Indianola Bait Shop Advertising Campaign

Transcription

1 Indianola Bait Shop Advertising Campaign Indianola Bait Shop Advertising Campaign Introduction to Marketing Indianola High School 1304 E. First Street Indianola, IA Keegan Noftsger Connor Koffman

2 Table of Contents Executive Summary...1 Description Objectives Identification of Target Markets Primary Market...4 Secondary Market...5 Advertising Media Necessary for the Campaign Advertising Schedule...7 Promotional Schedule...8 Budget Statement of Benefits to the Client/Advertiser...10 Bibliography...10

3 I. EXECUTIVE SUMMARY The Indianola High School marketing class was given an assignment to choose a local business of their choice, and create a marketing and advertising campaign for that business. My partner and I chose the Indianola Bait Shop. The reason that we chose this business over all the others was simple- we like to fish, and we like to support local businesses. Together we worked very hard to create this campaign, and we fully believe that this campaign will be successful if followed. The Indianola Bait Shop is located just south of Indianola. They provide quality baits, at a great and fair price. Although they have great baits, they don t necessarily have the best marketing and advertising strategies and plans. The objectives for the campaign included: increasing product line, increasing consumer awareness, and to create a name for the Indianola Bait Shop. To make these objectives successful, we had to find the target market, as well as the secondary target market. After finding these, we were better able to come up with advertising media and sales promotions. Our methods include signs, coupons, social media, and also renting a booth at a local fisherman s swap meet. We included a table for the upcoming year for carrying out these ways of advertising as well. Also included is a detailed budget, and also our statement to the client. Our budget lies just under $2, Our target market includes people that enjoy fishing, as well as individuals ages The current method of advertising for the Indianola Bait Shop is primarily through social media. The bait shop has a Facebook page that they utilize in order to reach the community. This is good, however it isn t good enough. There are more ways than just social media to reach the potential customers, and target markets. So, as stated before, by following the suggestions and ideas listed in the pages to come, we thoroughly believe that the Indianola Bait Shop will become more vastly known, as well as be able to produce more profit, and also increase their number of customers and potential customers. 1

4 II. DESCRIPTION Indianola Bait Shop is located on the south edge of Indianola, Iowa. This location is perfect for the bait shop, because it is located on the way to Lake Ahquabi. The Indianola Bait Shop offers a wide selection of live baits. The fine selections of baits include- crawfish, wax worms, minnows, nightcrawlers, and stinkbait. These are all sold for a friendly cost. The Indianola Bait Shop originally opened in 1997 under ownership of Lloyd Branchcomb. Branchcomb opened the bait shop in his detached garage, located on the south side of Indianola, just off of Highway 65/69. Branchcomb decided to open the bait shop when he noticed a lack of shops offering live bait in town. Branchcomb is an avid outdoorsman, who loves everything outdoors. In 2013, Branchcomb sold the Indianola Bait Shop to Tyler McAninch. The long term goal of the Indianola Bait Shop is to continue to provide quality bait to people who enjoy the outdoors. The population of Indianola in 2014 was 14,782 and it covers an area of square miles. The median income for Indianola in 2012 was $52,694. Strengths of the Indianola Bait Shop are: Good reputation among customers Location on main highway Weaknesses of the Indianola Bait Shop are: Lack of access to key distribution channels Lack of advertising Opportunities of the Indianola Bait Shop are: Lack of competition in the surrounding area Customers looking to support small businesses Threats of the Indianola Bait Shop are: Larger chain stores in the near area Lack of personnel at store The products that the Indianola Bait Shop offer are of the highest quality available. They come from different dealers around the state of Iowa. The bait shop markets their products by 2

5 utilizing their social media webpages. By doing this, the customers are able to see that new items are for sale. The prices at the Indianola Bait Shop are very reasonable. The prices for live bait at the Indianola Bait Shop are typically a little more expensive than that of Walmart, or Caseys. This is because the bait shop can t get wholesale prices like bigger businesses can. However, customers are typically glad to pay that extra cost for the great customer service that the bait shop offers, as well as the quality of the goods offered. The Indianola Bait Shop is located off of Highway 65/69, which is the road most take to get to Lake Ahquabi. This means that the customers can easily stop on the way to the lake. Customers enter the shop through a garage door, and self-serve their baits themselves. After gathering the items they wish to purchase, they leave money in a locked box. After paying, the customer is responsible for leaving the bait shop and closing the garage door. As stated before, the Indianola Bait Shop utilizes various different social media websites to promote their business. Also, they have a large sign right above the shop door. To attract attention of drivers, they have a small road sign located on the west side on 65/69. Several people have said that they would think it d be a good idea if the bait shop promoted themselves more. Some ideas were that the bait shop could place newspaper advertisements, coupons on the back of receipts, and a bigger sign on the side of the road. III. OBJECTIVE(S) OF THE CAMPAIGN We came up with three objectives for the Indianola Bait Shop. We came up with these ideas on our own, as well as through the survey. By following through with these objectives, the Indianola 3

6 Bait Shop will create a better name for itself, increase consumer awareness, and also increase their product line. Thus, they will become stronger as a company. Below are the three objectives: 1. To create a name for the Indianola Bait Shop In order to create a name for the Indianola Bait Shop, the bait shop will carry the highest quality, and the freshest bait available. 2. Increase consumer awareness by increasing consumer base by 10% This will be done by sponsoring school events, placing ads and coupons on the back of receipts, and better road signs. 3. Increase product line To do this, the bait shop will need to contact different vendors to be able to sell fishing poles, fishing line, hooks, sinkers, etc. IV. IDENTIFICATION OF THE TARGET MARKET A. Primary markets Demographic Psychographic Geographic years old Medium to high income Men Individuals who enjoy fishing Individuals who fish with live bait Individuals seeking high quality from local business Individuals who live in the Indianola area 4

7 B. Secondary markets Demographic Psychographic Geographic Women Children Retired Individuals Individuals who enjoy supporting small businesses People who enjoy high quality bait People who enjoy purchasing bait from a bait shop Individuals who live in Warren County V. LIST OF ADVERTISING MEDIA SELECTION NECESSARY FOR THE CAMPAIGN Advertising Media: Roadsign: By placing the road sign at the entrance of the drive, customers and potential customers will know where the bait shop is located. This sign will be attractive, as well as appealing to the customers. The sign will be lit by solar powered spotlights, and held together by strong wood, and supported by wood posts held down with over 640 pounds of concrete. All prices are found from All prices are totaled for the quantity necessary. The following outlines the costs for materials to make the sign: (2) 4 in x 4 in x 10 ft treated posts $25.14 (2) One gallon Valspar primer-white $55.94 (1) Stencils $11.87 (1) One Gallon BEHR Black paint $28.87 (2) ScotchBlue Painters tape $12.54 (2) Outdoor Solar Goes Green Spot Light $ (8) 80 lb. Concrete Mix $27.68 Sample of what sign may look like 5

8 (16) ½ in x 3 in Lag Screws $12.80 (3) ½ inch Washers $3.54 Total: $ Sales Promotion Activities: Receipt: By purchasing a space on the back of local store s receipts, the Indianola Bait Shop will be able to spread local awareness about the location of the store. Besides being able to spread local awareness, the bait shop will also be able to showcase some of their products available to purchase. Included on the receipt will be: Name of the bait shop, phone number, Facebook page, address, and a $1 off coupon. The coupon will draw in new potential customers that may have been wondering about trying the bait shop, as well as giving loyal customers a nice treat. High School Sponsorship: For Sponsorships the Indianola Bait Shop will donate money. The Indianola Bait Shop will donate to the Indianola High School basketball, and other school teams. Indianola Bait Shop will donate $ to both sports, hopefully getting our name out during those sporting events. This can be by a banner at the sporting event, and/or the bait shop logo on the sports team poster. Prices: Indianola High School Basketball team $ Indianola High School Wrestling $ Total: $

9 Vendor Booth: By purchasing a booth at the Mid-Iowa Fisherman s Swap Meet, the Indianola Bait Shop will be able to spread awareness about the location of the store, as well as communicate one on one with local fisherman. This will bring attention to the bait shop, as well as leave a lasting impression on the customers. With a great lasting impression, the customers will remember the bait shop, as well as spread positive feedback to other potential customers. Prices: 2 day 12ft x 12ft booth $ VI. SCHEDULES OF ALL ADVERTISING PLANNED Month Road Sign Facebook January Purchase materials from The local Circle B Assemble sign Prime and paint sign Install road sign for the public to see Make more frequent posts February-December Maintain the road sign for a professional look Along with more frequent posts, share specials and coupons, as well as post customers catches from using the products offered 7

10 VII. SCHEDULES OF ALL SALES PROMOTION ACTIVITY(IES) PLANNED Month Coupons School Sponsorship January Contact Hy-vee to Contact the put the company on High School the back of their about receipts sponsorship February March-December Contact Fareway to put the company on the back of their receipts Make payment on receipts for the year Make payment towards sponsorship Make payment towards sponsorship Vendor Booth Contact the MidIowa Bassmasters about buying a vendors booth Set-up and advertise at the swap meet VIII. BUDGET There are a couple items that you will need to buy in order to better your business. However, there is one thing that is free. This would be the Facebook page, (which reaches many people).below is a table that lays out all of the costs for advertising and marketing. Although it may look like a lot of money at first, remember that this is for an entire year, and possibly beyond that in the case of the sign. 8

11 Project: Items: Cost: Roadsign- (1) ¾ in x 4 ft x 8 ft oak $49.97 plywood 2) 4 in x 4 in x 10 ft $25.14 treated posts 2) One gallon Valspar $55.94 primer-white (1) Stencils $11.87 (1) One Gallon BEHR $28.87 Black paint (2) ScotchBlue Painters $12.54 tape (2) Outdoor Solar Goes $ Green Spot Light (8) 80 lb. Concrete Mix $27.68 (16) ½ in x 3 in Lag $12.80 Screws Subtotal: (3) ½ inch Washers $3.54 $ Receipts Fareway $ for 3 months Hyvee $ for 3 months Total for a year: $1, High School Sponsorship Basketball $ Wrestling $ Subtotal: $ Fish Swap Meet 2 day booth $ Subtotal: $ Overall Total: $1,

12 IX. STATEMENT OF BENEFITS TO THE CLIENT/ADVERTISER By following the plans that we have listed, the Indianola Bait Shop will successfully grow in the community. Besides growing in the community, the bait shop will gain customers. We feel that by following the plans, the customer loyalty will grow, as well as the number of customers will grow. This will be by word of mouth, as well as the Facebook and the roadsign. If the sales go up by 15%, we will find the campaign a success. X. BIBLIOGRAPHY All prices and information were gathered from the websites below: "Home Improvement Made Easy with New Lower Prices Improve & Repair." Home Improvement Made Easy with New Lower Prices Improve & Repair. 15 Nov Web. 15 Nov "Mid Iowa Bassmasters." Mid Iowa Bassmasters. 15 Nov Web. 15 Nov < "Receipt Advertising." Office Supplies. 15 Nov Web. 15 Nov < "Warren County Iowa." Warren County Iowa. 15 Nov Web. 15 Nov < "Google Images." Google Images. 15 Nov Web. 15 Nov < 10