MARKETING PLANEXECUTIVE SUMMARY:JM
Bookstore is a retail store specializing in workbooks, educationalgames, teaching aids, school supplies and many others. It primary costumersare teachers who wants additional resources for the classroom and teachingaids for their students. And also parents seeking educational resources tosupplement their children learning in school and during the month of May toJune they start buying school supplies for their children. Also students whowant to buy materials for their project in school. It’s best selling productsincludes includes workbooks, science experiment, classroom, decorationssuch as bulletin board art and posters. The store has been in operation since2005. For the first three years of its operation, the store has exceeded itsrevenue projections. The business is expected to post its first profit for theyear 2008. to achieve its sales, the store has relied primarily onrecommendations among teachers and weekly advertisements in the localnewspapers. Because the store has little direct competition, it has been able tomaintain an average 48% gross margin avoiding price reduction except toclear out seasonal items. The retail space adjacent to JM bookstore becamevacant in February 2010, when the jewelry store occupying the spacerelocated this vacancy presents an attractive opportunity, given the strongsales. JM bookstore has experience within minimal advertising. Theremainder of this marketing plan details how the owners intend to takeadvantage of this feasible expansion opportunity. In response to theopportunity presented by a vacancy in the retail space next door. The storeseeks to expand in year 2010. Technical Aspect Expanding into the existingspace will increase square footage by approximately 80%. The space from theexpansion would be used to provide a much broader selection of educationaltoys and games. This product selection of mix is designed to generate moresales among “active parents”. In addition to draw more active parents into thestore, JM bookstore plans to increase its budget foe marketingcommunications. The additional funds would be used to double the frequencyof advertising and to sponsor public relations activities such as speakers at the public library. The owner will be responsible for implementing this planswhich calls for opening the new space by July 15, 2010. Success will bemeasure in items of meeting the schedule and achieving the sales and profitobjectives.