Académique Documents
Professionnel Documents
Culture Documents
Michelle Perez
Capstone Project
for
_________________
Steven Reiquam, Ph.D.
Capstone Advisor
_________________
Amy Kelsall, Ph.D.
Academic Director
________________
Jim Davis, Ph.D.
Dean
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ABSTRACT
are able to raise consumer awareness about their company’s products. The
TABLE OF CONTENTS
INTRODUCTION....................................................................................1
Product Development.................................................................5
Research ................................................................................ 10
Marketing mix......................................................................... 14
Advertising .......................................................................... 17
Branding ................................................................................ 26
REFERENCES ..................................................................................... 57
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INTRODUCTION
old rules of marketing rely on clever media ads and mass marketing to
whole package.
smarter and better connected to the world than ever before. They post
they admire and circle the wolves around companies they don’t. Smart
Small businesses may not have access to all of the new technology
their customers and interactions with them can offer valuable insight
stating “Open for business” once would suffice for attracting customers
both small and large. Unfortunately, little relevant data exists about
Marketing will illustrate how small businesses can implement this new
marketing model.
LITERATURE REVIEW
fewer than 500 employees (SBA 2008a). This definition can be more
industries, but in general, the Small Business Act states that a small
a small group.
4. The relative size of the firm within its industry must be small
significant comparisons.
roughly half of all private sector employees in the United States. They
to 80 percent of net new jobs annually over the last decade, and
fact, of 26.8 million small businesses in the U.S. 19.5 million firms are
this Capstone seeks to address the marketing needs for this segment
of U.S. companies.
Product Development
experience.
divided neatly into two camps and, although crossover was not
and even advertising are three distinct disciplines (Guth and Marsh
consumers.
Guth and Marsh cite some ways IMC has redesigned the
mass audiences
Using these strategies, IMC ensures that the target market is the
have learned to ignore, businesses are learning that it’s often not the
company with the largest marketing budget that will win over
have slowly realized that the best way to serve their customers is to
Target Market
messaging to consumers.
things about the audience such as what they read, what they watch on
television, where they shop, and how they buy. In addition, a well-
with huge corporations for market share and revenue. The speed and
messaging that resonates with the audience. The criteria listed above
Research
monitors data to evaluate costs, profit, loss, and the overall financial
data, research plays a critical role in the IMC process. For that reason,
marketing strategy.
cars to produce and in what color, informal research can tell the
marketers why a consumer will buy a certain car and provide insight
marketing strategy.
Marketing Strategy
Marketing mix
has merit, the IMC model has modified these elements to develop a
choices about products. Given that the average American sees more
seeking products that offer specific solutions to their needs and wants
are often willing to pay more for the product (ibid.). Accordingly,
those expectations.
Promotional elements
extent that the marketing fails to have an impact with any consumers
effectiveness of marketing.
Advertising
the most vilified. The public increasingly views the constant flow of
product awareness, this marketing channel does not have the stand-
Direct Selling
Sales Promotion
customer rather than to sell one item to ten customers. With sales
product or service.
Advertising Mass Fees paid for space • Efficient means for • High absolute costs
or time reaching large • Difficult to receive
number of people good feedback
Public Relations
and other media (Guth and Marsh 2007). Unlike traditional advertising,
hold more credibility with the public (Kerin, Hartley, and Rudelius
that, unlike other forms of marketing, a business has little control over
2007). Unless consistently able to garner attention for issues that are
must answer the questions of who, what, when, where, and why,
answer the question of “so what?” — or why should the public care
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public? Raising the question of how to make it matter to the public will
New media
use IMC to reach target markets with relevant messaging and obtain
business strategy.
and trade (Strauss, El-Ansary, and Frost 2006). In fact, the Pew
Research Center found that although the Internet has changed how
target markets will receive their messaging and its impact on their
begin and end with a simple website offering a homepage with the
For that reason, businesses must ensure that their website, and their
efforts.
listed in the top ten results receive 78 percent more traffic than
to their website.
Branding
catchy jingles (Keller 2008, 2). As one expert notes, the power of a
equity, or value, that carries over into future interactions with the
One text notes that most customers want brand loyalty just as
choices each time they select a product, consumers want products that
development.
Redmond has been selected as the primary target market for Verve
the city.
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Central Oregon 2008a). With the influx of residents has come the
(ibid.).
projects will further serve to spur economic growth in the city and
consumers.
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community.
tracked by Google Analytics to garner insight into how the site is used
Appendix A
Verve Marketing
Marketing Plan
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EXECUTIVE SUMMARY
Redmond, Oregon, due to its rapidly growing industries and the large
include:
expert;
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operations.
COMPANY OVERVIEW
the area and provide marketing services that reflect the area’s
providing better marketing products and more a creative vision for its
clients.
Market Summary
Marketing Research
and it offers direct flights to major cities such as Portland, Seattle, Los
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Angeles, Las Vegas, Salt Lake City and more. Redmond’s passenger
accommodate the visitors and allow for more flights into Central
Situation Analysis
SWOT Analysis
STRENGTHS
visits most often take place at the client’s workplace. By meeting with
insight about the client’s business culture. This enables Verve to create
selection of styles and specialties, Verve Marketing can ensure that the
climate.
WEAKNESSES
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market.
will fall to the company’s founder, Michelle Perez. Additionally, the lack
OPPORTUNITIES
will spend the majority of its first year working on building a strong
presence in Redmond.
THREATS
Redmond community.
prices and the sluggish real estate market. The economic challenges
Competition
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their marketing needs, the bulk of their marketing and public relations
will write the ad copy for clients seeking radio ad time. Although these
Business News 2008 Book of Lists named thirty marketing and public
relations services.
Service Offering
• Copywriting;
• Copyediting;
• Promotional development;
• Branding consultation;
Marketing Strategy
core customers. Outlined below are some the ways Verve Marketing
Marketing Objectives
in Redmond.
Strategy
use website.
purpose of networking.
Commerce members.
per week.
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release distribution.
Marketing Mix
Service Solutions
on an ongoing basis.
Public Relations
During its first fiscal year, Verve Marketing will create and
submit no less than eight press releases for publication. Press releases
Personal Selling
Marketing’s success. Sales calls will provide Verve Marketing with the
company.
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Advertising
Website
and will serve as the medium by which potential clients can read
Value
each of its clients and will bill for services based on the type of work
being performed. Billable time will include all time spent on planning,
three ways:
Project Based
fee based on the type of project, the amount of time involved, and
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will be drafted and signed by the client and by Verve Marketing. Any
estimated cost upon signing the contract; other costs must be paid in
Ongoing
One-time
per hour plus expenses. This cost is commensurate with other small
carte services will be billed at a flat rate based on the quantity and
Financials
Financial Overview
for approximately 1000 hours at the rate of $65 per hour. Assuming a
Verve Marketing
Projected First-Year Revenue &
Expenses ANNUAL
Public Relations 43,680
Branding Consultation 6,240
Promotional Development 6,240
Marketing plan Development 6,240
Fees 12,000
Total Revenue 74,400
Phone-office 240
Phone- Cell 600
Website 1,400
Advertising 5,492
Technical support 480
It/computer equip 1,200
Meals / entertainment 668
Travel expenses 1,831
WAGES 19,344
Payroll taxes 2,708
Office supplies 240
Postage 180
Trade subscriptions 60
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Memberships 460
Printed materials 600
Business license 50
Web domain registration 15
Legal counsel (contracts) 300
Total Expenses 35,868
percent of revenue 48%
NET INCOME 28,932
Implementation Plan
below. Once a month, the company will review and evaluate the
year.
Implementation steps
Website Development
Direct Selling
Verve
Marketing
Home
Page
Pricing Testimonials Clients Blog RSS Feed Collage Sunriver Britz Michelle News Other
Greetings Soaring Beads Perez Articles
Profile
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Appendix C
REFERENCES
Abrams, Rhonda. 2000. The successful business plan. Palo Alto, CA:
of Advertising 27(2):279–297.
Cascade Business News. 2008. 2008 book of lists. Bend, OR: Cascade
Publications, Inc.
can bring the current marketing mix into the 21st century.
Population. http://www.edforco.org/communities/redmond/
http://www.edforco.org/COFacts/population/population.html
http://www.edforco.org/communities/redmond/
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Guth, David W., and Charles Marsh. 2007. Public relations a values-
http://www.bendbulletin.com/apps/pbcs.dll/article?AID=/20070
214/BIZ0102/702140324/0/CLASSIFIEDSAJAX
Bulletin. July 9.
http://www.bendbulletin.com/apps/pbcs.dll/article?AID=/20080
709/NEWS01/807090445
http://www.bendbulletin.com/apps/pbcs.dll/article?AID=/20080
509/BIZ01/805090440
http://www.redmondcofc.com/index.cfm?fuseaction=home.page
&content_id=1026&site_area=live
index.cfm?fuseaction=Home.Page&content_id=1029&site_area=
work
http://www.sba.gov/advo/stats/sbfaq.pdf
http://www.sba.gov/advo/research/us88_05.pdf