Marketing Flyer Plan Essay Sample
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Marketing Flyer Plan Essay Sample
This paper will cover the development of a marketing flyer plan for XYZ Construction, Inc. XYZ Construction, Inc. currently is a private construction company that is predominately funded by state and federal contracts. The company has made plans to move from the private sector to the public sector in hopes to increase revenues and business by offering services to the private and residential construction industries. XYZ Construction, Inc. has 12 months to revamp and/or develop different departments and areas of their company. For this task XYZ has brought in a private consultant (Jamaz Hall) to develop and implement a marketing plan that will ensure a smooth transition into the public sector. The first step is to create a marketing flyer that will outline the company’s services to old and new customers. The tactical marketing plan will include: product features, promotion, merchandising, pricing, sales channels, and service.
XYZ Construction, Inc.
XYZ Construction, Inc. is a private family owned company founded in the 1950s. Their service background is in the horizontal construction work area in which they construct roads, airfields, and bridges. XYZ has 16 office locations in 11 states and the location in Denver, Colorado is the headquarters. XYZ has approximately 2300 employees year-round and increase to an average around 4500 employees during peak construction periods.
To effectively create a marketing flyer plan there are different types of data that must be collected before creating the final product. The data being collected must include ocular inspections, doing consumer research, identifying appropriate times to distribute, and identifying competitor’s distribution. Ocular inspection. When doing an ocular inspection meaning evaluating potential deployment areas is key in effective distribution of the XYZ flyer. Buttell (2009) states, “A robust marketing plan that clearly defines your niche and your potential audience” (p.7). Information gathered about the different areas are key to effective marketing. The data collected should include information such as; how many individuals visit or live in those areas and if those individuals are the consumers that the company is attempting to target (Buttel, 2009, p. 8).
This would be understanding the company’s target market. Going more in debt with the information would be knowing when the target audience is passing by certain areas and/or arriving at certain places that XYZ plans to distribute the marketing flyer. Consumer research. Consumer research is a continuation of the ocular data collection process. XYZ has to determine when and how to deliver the product to the consumers. Buttell (2009) states, “ When you have a niche and have defined that, you immediately carve out a whole section of channels where you can be marketing, so you can start focusing your efforts instead of joust showing up and doing anything” (p.8). This means XYZ needs to know what distribution points the consumers are going to and when are the consumers going to these distribution points.
This would allow XYZ to deploy the marketing flyer at precise locations, days, and times of day. It will also give XYZ the advantage of knowing the more prominent locations to get a greater response from the consumers. Identifying appropriate times to distribute. Understanding the best times of the year to distribute the marketing flyer is also paramount. XYZ has to understand when consumers are more likely to spend money. “The biggest mistake that many make even seasoned professionals-is to jump to tactics” (Buttell, 2009, p.8). What Buttel is stating is no company should just go purchase billboard space or advertising pages without devising a plan first. For example, if XYZ was a retail company then during holidays and tax-free periods would be the opportune times to distribute a marketing flyers detailing their services.
XYZ has to also gather information on when there services are more likely needed during the year as far as the environment goes (Buttell, 2009). This means if in the winter months construction builds are slow then it would be at XYZ’s disadvantage to distribute marketing flyers when the consumers are not buying their particular services. Identifying competitor’s distribution. Knowing your company’s competitor is paramount. Not knowing is a potential threat to XYZ’s marketing schemes. This data should be collected and analyzed closely because by knowing where the competitor is marketing, XYZ could then strengthen their presence in these areas to possibly overpower the competitor. However, XYZ has to know which areas they have no chance of dominating and leave the areas alone to avoid spending unnecessary funds that will not give them positive responses.
XYZ Construction, Inc. is on the verge of entering the public sector in the next 12 months. Their services have been used strictly on government contracts and XYZ wants to expand their services to the residential and private construction areas. XYZ Construction, Inc. also wants to offer their services to a national and international audience.
XYZ Construction, Inc. will need to do extensive market research on how the construction industry operates in the residential and private arenas. To their advantage they have extensive experience through government contracts that can and will help them flourish in other areas because of the work references they can offer. XYZ has to evaluate and understand their marketing strategy thoroughly because of the new clients and work markets they are attempting to enter.
Target Markets. XYZ Construction, Inc. has hopes of expanding their reach into the residential and private construction sectors. The different markets they want to expand in for both arenas consist of:
• Airfield Construction
• Road Construction
• Bridge Construction
Market demographics. Since XYZ Construction, Inc. primary services has been solely in the government contracting areas, they will have to adjust to a different audience market. Although XYZ may not have a specific demographic they are wanting to market to from a geographical standpoint, but by the use of technology they should be able reach consumers nationally and internationally. Market needs. XYZ Construction, Inc. offers a niche set of services in the construction industry. XYZ will have to focus on how they are going to ensure their services to their new customer base. NorthCentral University (2011) describes these needs as: • Quality craftsmanship. XYZ must show how their employees take pride in their work and that they have the qualified skillsets and skill levels to take on any project.
• Well-thought-out designs. XYZ must ensure that before they began any new or existing build they have proper well planned design layouts to ensure they are giving customers exactly what they request. • Customer service. XYZ’s customer service has to be exemplary for the simple fact they are treading in unfamiliar territory. Knowing your customer is a key business driver and while XYZ may be familiar with the construction industry, they are not familiar with how customers operate in residential and private construction areas. (p.159) Market trends. XYZ Construction, Inc. will have to understand the trends of the new market they are diving into.
Extensive research on what the current competitors offer its consumers and from there conclusions can be made on what the consumers are not being offered by other construction companies (NorthCentral University, 2011). XYZ could then market these new construction services, options, features, etc. as a bonus to this new market they are exploring. Market growth. XYZ Construction, Inc. has already determine how they could expand their business reach by wanting to expand into the residential and private construction areas. However, XYZ must determine where there may be room for growth within the industry from a residential and private construction standpoint (NorthCentral University, 2011).
XYZ Construction, Inc. has to take in consideration their new market and what is the success rate in this new market. To successfully do this an effective SWOT analysis which would outline XYZ’s strengths, weaknesses, opportunities, and threats.
o Extensive experience in the construction industry through government funding.
o Multiple locations established in 11 states.
o Residential and private construction areas are a new unfamiliar market.
o XYZ would be dealing with new customer base.
o Increasing revenues by expanding into private and residential construction areas.
o Creating more jobs for the economy.
o Competitors that are already established could demolish their
marketing efforts. o Customers could like current companies and resist XYZ’s attempts to merge over.
XYZ Construction, Inc. is charting in unknown territory. When dealing with the competition XYZ must be creative to the fact they must offer a service different or noticeably greater than that of their competition. They must rely on the industry experience to help spring board them over the competition (NorthCentral University, 2011).
Products & Services
XYZ Construction, Inc. provides horizontal construction work to include bridges, roads and airfields. The employee skillsets consist of light & heavy equipment operators, civil engineers, project managers and administrative staff located in Denver, Colorado at the company headquarters (NorthCentral University, 2011).
Keys to Success
XYZ Construction, Inc. must attempt amaze the public market by showcasing their innovative designs, excellent work ethics, talented and skilled employees, great customer services, and offering competitive prices to the consumers. A combination of these keys business drivers will increase the success rate of XYZ Constructions, Inc. efforts to expand (NorthCentral University, 2011).
XYZ Construction, Inc. as a new kid on the block pertaining to residential and private construction areas they will have to establish themselves as a legitimate construction company to the public. XYZ will have to properly adjust their finances to control their new cost to engage in the new market. XYZ will also have to maintain their presence in the government construction industry to keep their company moving forward (NorthCentral University, 2011).
XYZ Construction, Inc. should focus their marketing strategy on providing exemplary customer service to their new consumers. Working on government contracts has given them the experience to service large and small scale projects. XYZ will just have to showcase these skillsets through catering to their new customers.
XYZ Construction, Inc. mission is to expand their horizontal construction services into the private and residential construction markets on a national and international levels.
• To create a marketing flyer that will catch the attention of new customers. • To create a dominating presence in the new market.
• To maintain revenues while expanding in a new market. • To have quarterly increases in the new market once they go public. • Having a successful plan to maintain project management throughout the expanding.
XYZ Construction would have to create a financial plan that includes a financial forecast that covers months, quarters, and yearly forecast. XYZ has to evaluate the current market they are expanding into because they are unfamiliar with the demand of their services. XYZ will also have to evaluate the current demand of the government agency in which they will have to uphold their current presence (NorthCentral University, 2011).
A financial strategy will also be key because XYZ is wanting to go public and trade their company in the public sector. A thorough financial strategy will help get potential suitors to invest in the company. Also, the company will need to open offshore accounts because they are attempting to expand internationally. It will have to be a well thought out plan to facilitate procedures that will need to happen so that products and services can be handled in a timely manner when dealing with international customers (NorthCentral University, 2011).
XYZ Construction, Inc. has to evaluate their cash flow, labor productivity, liquidity, employee production and customer satisfaction. The higher level officials within the company has to start implementing strategies that will help transition into the new market and ensure these strategies cater to their ability to expand operations nationally and internationally. Creating the marketing flyer will be the first attempt to gain a presence within this new market.
Buttell, A. E. (2009). 4 Steps to an Effective Marketing Plan. Journal Of Financial Planning,6-8. Northcentral University (Eds.). (2011). SKS7000: Executive concepts in business strategy [VitalSource e-book]. Boston, MA: Pearson Learning Solutions.