Marketing Goals & Objectives
– Beantown Bakery attempts to convey a green, fresh and healthy lifestyle. We will divide our marketing campaign into two main areas. The first is a projection of nature conservancy, support for green energy measures, recycling and a healthy lifestyle. This will appeal those looking to stay thin and healthy or to those who practice vegetarian/vegan diets. The second is a focus on businesspeople. Because of our location, we want to ensure that we attract employees from nearby businesses. This will appeal those in the work force who are looking for a quick breakfast or a place to bring in potential customers for meetings.
– We have four primary goals for Beantown Bakery: First, to project an image of a healthy eatery. Second, to obtain 25% of the corporate client market. Third, to achieve monthly sales of $40,000 after the first sixth months of operations. Last, to achieve 33% Return on Investment after the first six months of operation.
– We want to become the first place people think of when it comes to a healthy and quick snack. We intend to grow through several venues of advertisement and through word of mouth. The business community is very interconnected and if we can satisfy our customers we expect that positive feedback will be communicated throughout. Positive word of mouth and a variety of advertisement tactics will aid us in our growth.
Marketing Strategy and Tactics
– To achieve an image of a healthy eatery, we will be sure to promote a healthy diet. Our menu will consist of a variety of different options that our customers can choose from that will be compatible with the many different diets out there today (including vegetarian/vegan, gluten free, etc.). Daily we will provide a featured combination of coffee and snack that will fulfill each of these diets.
– Our goal is to bring in many customers through several forms of advertisement. We want to get consumers to believe that Beantown Bakery is the best choice for them. By luring customers in through our advertisements, we will then capture their approval through the actual taste testing of our products.
– To achieve our monthly sales goal, we hope to not only get our customers to come in and try our products once, but also get them to come back again. We will do this by not only providing them with a good experience, but also giving out coupons that will be hard to resist. We will have ongoing promotions and almost daily updates on our webpages, offering and explaining said promotions. Our goal is to continue to grow each month. Every month we will add another featured product that might instigate curiosity on behalf of our customers.
– We will use both Product Differentiation and Market Segmentation. Our strategy will consist of showcasing the differences between our products and also appealing to both businesspeople and those that lead a healthy lifestyle.
Product: The difference between our products and those of our competitors is that we offer organic and healthy options. Our focus isn’t in creating calorie-rich treats, but in offering a variety of healthy options. We offer low-sugar products for those looking to stay thin, and for those with diabetes or similar conditions. We also offer products for vegetarians and vegan alike. Our competitors do not have the same products, which will give us an advantage in our market.
Price: Our prices are affordable, but a bit higher than those of our competitors. This is due to our location and the higher incomes of our expected consumers. We will always have different offers and deals that change on a monthly basis. The services we provide will justify our pricing and we do not believe this will account for a loss in profit.
Place/Distribution: This is a very important part of our marketing. We are located on Summer Street in the Financial District. This means that businesspeople will be relatively close to our location. We also offer catering services, which means that we will take our products to the consumer’s location. With these two things we hope to have an advantage, since none of our primary competitors offers this service.
Promotion: We will rely on publicity in several venues, word-of-mouth and public relations. We hope to receive positive reviews, and have our business expand through positive word-of-mouth.
– We will employ different advertising strategies. They range from physical to online advertisement. The specifics are:
Direct Mail Campaign: We have developed a postcard/coupon that we will send out through direct mail. This coupon gives a free sample of a choice of products and requires that the customer comes into the store, so that they can have a first hand experience of what Beantown Bakery is all about.
Email Marketing: Our coupon includes an email subscription option. Those who would like to receive updates from Beantown Bakery can check the card. These will be available at the store and will be mailed to customers through our direct mail campaign and they will also be available through our Twitter and Facebook pages. We have contacted a company called Vertical Response and they offer a “Pay-as-you-go” plan that allows us to pay 1.5¢ per email credit (2011). This way we can base our email list on the received subscriptions and pay accordingly.
Facebook Page: We have created a Facebook page. We will begin by inviting all of our friends and hopefully the page fans will grow. On the page, we will advertise our offers, have links to all our pages, and post-constant updates of our products, etc.
Twitter Page: Twitter works in the same way as our Facebook page. Everything that is advertised on Facebook is advertised on Twitter. We hope to increase the number of followers and have people ‘tweet’ about us. This will give us considerable popularity.
Cable TV: We are in the process of contacting Comcast Spotlight, and inquiring about prices. We are interested in Spot Cable Advertising since it allows us to target different markets and to focus only on certain areas. This will be helpful since we are targeting two different areas: those who are interested in health and fitness and businessmen.
Commercial Concept 1: A woman is jogging on the street. She is an African American female, in shape and in her late 20’s. She passes by Beantown Bakery and sees the delicious treats on the window and can’t seem to help herself. She backtracks and walks in. Seconds later she walks out munching on something and with a cupcake in hand. She looks at the camera, smiles and continues jogging. On the screen appears the phrase (along with a voiceover) saying, “Love your cravings. Love your health.” Then the Beantown Bakery logo appears, with the phrase “Boston’s organic bakery” under it.
Commercial Concept 2: First scenario: three men in business suits are waiting for a table at a busy restaurant. One of them addresses the other two, anxiously, and assures that it will only be a few minutes. The other two look upset and constantly look at their watches. The viewer comes to understand that these are potential clients. The first scenario is repeated at two other different restaurants, with the same main businessman, but different clients. A voiceover begins, “Don’t let this happen to you. Come to Beantown Bakery, where a table is always waiting”. The last scene is the same man handing over a contract, with the other two men drinking and eating something baked (clearly enjoying it) and saying, with a mouthful, “Sure, I’ll sign it.” A screen appears with the words “Beantown Bakery, where business happens…”
– Beantown Bakery aims to serve those in the business industry who are also interested in a promoting a healthy diet.
Geographic Segmentation: We are located on Summer Street in the Financial District in Boston, MA (LoopNet). This means we will be targeting nearby businesses and businesspeople. Some of the Zip Codes we are looking to target are 02108, 02109, 02110 and 02111.
City Size: The city is comprised of 589,141 citizens. We are targeting a neighboring market of 30,000 and up.
Demographic Segmentation: Beantown Bakery is fundamentally an organic bakery. Generally speaking, those interested in healthier options tend to be adults, since they are more educated on the benefits of purchasing organic and or healthier options. Also, because of our location, we will be attempting to attract men and women involved in the business world, among others, of course.
Gender: Male, Female
Age: 19-34, 35-49, 50-64
Education: Some college, college graduate and post-graduate.
Life Stage: Adult to Senior
Income: 45,000-74,999, 75,000 and over
Occupation: Professional, sales supervisors, home-based business owners.
Psychographic Segmentation: A very key part of our business is the focus on green measures. This means our targeted customers will be those with interests in environmental preservation.
Personality: Gregarious and ambitious.
Values: Achievers, believers, strivers, makers.
Lifestyle: Moderate to upscale.