Marketing Plan

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Mark D. Imhoff MM522 (Marketing Management) Marketing Plan Suspension Beds Sunday, September 18, 2011 ------------------------------------------------- Executive Summary Suspension beds is a revolutionary product of which is very attractive to expanding families, kids, students, and trend-setters. The product utilizes wasted overhead space in bedrooms for the purpose of freeing up the entire square footage of the room to use as one so desires. The product and company has little direct completion, the benefits are immeasurable and the growth potential for the company is enormous. The product leverages cost savings when it comes to customers needing more space, and conversational topics for those who have no space or financial…show more content…
There will be segmentation of the target market using home pricing, not home sizes, as home price will be adequate in this area. The primary targets will be as follows: Lower to Middle Income, Expanding Families; Within this demographic “space” requirements are continually challenged by the availability of funds to acquire it, particularly when speaking of home renovations and expansions. This will be the largest of the three identified Target Markets, consisting of approximately 1/2 of the overall TM. Geographically, this target market is located throughout the valley, in the middle-income neighborhoods which is approximately $30k to $62.5k household income (US Census Bureau, 2006 – Appendix A). The slogan “the cheapest way to add a room to your home” will be a key marketing tool for this particular segment of the target market. With the economic conditions and growing families, space is desired but not always an option due to cost so this will be a key focal point. This particular market makes up 52% of the total available market, more than 128,000 homes. (U.S. Census Summary File 3, Profile of Selected Housing Characteristics: 2000) Higher Income Market; In this demographic the strategy will focus more on the “wow factor” than space savings or financial viability. The company will also utilize standard ads, flyers, mailers, etc. The geographical areas of this demographic will be

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