am writing a marketing plan and the teacher wants me to write an executive summary, could you help with that. Here is what I wrote, what do you think? It is supposed to be one page in length.
I am writing a marketing plan and the teacher wants me to write an executive summary, could you help with that. Here is what I wrote, what do you think? It is supposed to be one page in length.
Executive Summary
This marketing plan is presented for Plato’s Closet, a thrift store located in Edison, NJ, which focuses on selling trendy used clothes and accessories from fashionable brands to young fashion conscious female consumers. Our marketing plan will show that we have the ability to be highly competitive and fill a unique niche and will also execute marketing steps to generate regular profits from sales at our store.
Our demographic consists of mostly teenage and young adult women who are into fashionable trends. The owners have identified this demographic as a strong market who are passionate about obtaining trendy clothes at a fraction of the price that would be sold as new in retail mall stores.
The store has a unique selling proposition as opposed to other general thrift stores as it only carries certain types of high-end brands, including high end and trendy athleticwear, and caters to a specific demographic. General thrift stores carry assorted merchandise and cater to the general public. Also our competitive analysis shows that we are the only store of this kind in all of Central New Jersey which gives us an advantage of limited competition. There is indirect competition from the internet through online sellers and vintage stores which may take away customers from shopping at our store.
Our marketing budget on a monthly basis is $4500 per month which will cover the costs of the different marketing strategies we expect to implement including posting billboards, distributing printed fliers in key locations where our targeted demographic is found, conducting informative surveys with existing and prospective customers and investing in SEO so as to drive traffic to our website and raise awareness of our store. After taking into consideration all of our various costs and expenses we project that we will need to generate approximately $22,000 a month to cover our expenses. We would like to at least generate a $10,000 profit a month and believe that by using our marketing strategies we could be in a position to generate at least $32,000 a month in total revenue which will be sufficient to meet our profit goal.
We hope that with our successful annual growth combined with exceptional customer service and reputation, that our store sales will continue to increase incrementally year to year. We think this business model has a lot of room for great success and will be realized through the implementation of this marketing plan.
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