STUDENT MARKETING PLAN FOR “BAGELS BY THE BAY”
A Marketing Plan Presented by:
Table of Contents
1. Background 1
2. Strategic Focus and Plan 1
( Mission Statement 1
( Goals 1
( Competitive Advantage 2
3. Situation Analysis 2
( SWOT Analysis 2
( Competitor Analysis 3
( Company Analysis 3
( Customer Analysis 4
( Customer Analysis 4
4. Market-Product Focus 4
( Marketing and Product Objectives 4
( Market-Product Grid 5
( Target ...view middle of the document...
As a general rule, they enjoy taking advantage of their beautiful location by engaging in many outdoor activities. They pride themselves on being a safe place to live and visit. Like many other small communities, they have formed a strong community bond and are very supportive of one another.
The inhabitants of Three Harbors are not the only ones who like to enjoy their beautiful scenery. Every year thousands of people make the trip to Northern Michigan on and their way they cross right through Three Harbors. During any given summer day a sea of cars fill the streets of the town. Everyone of these people has a similar characteristic- they need to eat and drink. Bagels by the Bay will work to fulfill these needs.
2. Strategic Focus and Plan
This aspect of our marketing plan focuses on the strategic planning of Bagels by the Bay to make it a successful business. There are three areas that we will discuss: mission statement, financial and nonfinancial goals, and competitive advantage.
To provide tourists and local citizens with a low-fat, healthy meal alternative with high quality products and service.
1. To break-even in profits versus losses within the first two years of business.
2. Within five years, obtain a 15% profit from sales.
3. To maintain financial stability so that we can stay open year-round unlike many other businesses in our area which are only open during the tourist season.
1. Within five years, expand our services to catering for special events.
2. To create a demand for business outside the tourist season.
3. Employ seven to ten workers on average.
4. Within ten years, expand Bagels By the Bay to two locations, such as 7th Avenue in Three Harbors and either the towns of Beaver Bay or Silver Bay.
5. Sell high quality meals at an affordable price.
Bagels By the Bay’s most obvious competitive advantage is the product line. The menu consists of healthy, low fat choices of different sandwiches, soups, and salads. These are items that the other fast food restaurants do not offer. To ensure the exceptional product line, Bagels by the Bay focuses on using top-quality ingredients in its products. Customer service and satisfaction is also a high priority. Another competitive advantage is that Bagels by the Bay is locally owned and operated unlike many of the franchises that have moved into Three Harbors, such as Hardees, McDonalds, Burger King, and Subway. Location is another key factor of which we have an edge over our competitors. Our location is readily visible, easy to access, and in the middle of a high traffic zone during the tourist season.
3. Situational Analysis
The SWOT (Strength, Weakness, Opportunities, and Threats) analysis provides a brief description of the present environment in which Bagels...