MARKETING PLAN

Marketing Plan: Grace Intereior Designers

Marketing Plan: Grace Intereior Designers

Introduction

The paper discuses the research plan for supporting the marketing program of a hypothetical company “Grace”. Grace will provide interior design services to the residential customers operating in U.S.A. Grace is a company that operates internationally and now wants to expand its market to U.S. However, the company will have to conduct a thorough research before entering the market. Prior to research, some of factors including segmentation, positioning and SWOT are important to consider; therefore, this paper discusses the marketing objectives, market segments overview, SWOT and marketing positioning.

The Marketing Objectives

The primary marketing objectives are as following

To exceed customer's expectation by proving quality services and products

To earn the reputation of being a premium service provider within the period of six months following the marketing campaign.

To increase the number of clients by 16% every year through superior performance

To develop a start up business in U.S that is sustainable in the long run.

Marketing Segment

Grace will initiate its services in the city of Claremont. This segment is selected because the city is growing by 6% annually for the last five years. Currently the population of the city is 700,000. The greatest population increase is in the city's affluent area; therefore, Grace will target this affluent segment keeping in view the goal of marketing skimming. The three main market segments for Grace are:

New home construction- The Company will compete for the interior design project which is associated with the new homes. The company will undertake the construction partnership with the builders for this purpose. The services for these segments will include the floor or carpet design, master planning, strategic planning and lighting (Irvine, 2006).

Remodeling- the remodeling services will include furnishing and are doing the homes.

Interior design of existing homes- it will include the minor changes and renovations in the existing homes

Target Market

The target market for this segment is the individual having an average income of $200,000. These are the people who are conscious about their life style and tend to spend more on their home decoration. They are the affluent individual usually business class, whose interest is in the appearance of their homes, which is the status symbol for them. Grace will target the segment according to demographics and lifestyle (Knackstedt, 2001). The target market is further divided into groups of customers who would want modern, classic, youthful, traditional, or elegant outlook. The 80,000 residents of the affluent areas have an average income of $200,000 and have an average home value of $350,000. There is a new construction being done in the south west section of the area that requires the remodeling of existing homes. Therefore, this new, affluent segment will be an attractive opportunity for Grace to start off its operations, and satisfying the residential demands (Knackstedt, 2001). One important point is that Grace will be targeting the residential customers but not the business segment, the reason being that Grace is new in the market, and it will gather experience and adequate finances to ...