marketing objectives essays

marketing objectives essays Like any new company, we will have to pay initial sunk costs that we predict to be substantial due to our need for multiple delivery cars. Consequently, we understand that generating a profit in our first few years of operation may be unrealistic. With this in mind, we will focus on developing our market share in the initial years of operation to increase our ability to generate profits later. To build market share, we will focus on the following areas: Increasing awareness within our target market Encouraging our target market to use our service Covering enough expenses to remain in business We believe that these objectives will develop our market share and, at the same time, provide our company with enough revenue to control our debt. Increasing Awareness Within Our Target Market We at Time Savers are fortunate to have the ability to analyze a service similar to ours already in operation. Time Finders has been in operation in the Ithaca market for several years and offers a similar service. We asked Time Finders what forms of advertising they found most effective for their particular service. They responded by saying that they had tried many forms of advertising and found most did not provide enough benefit for the financial cost required. They went on to say that they only advertise through the PennySaver, which is a weekly coupon publication advertising local businesses. In our survey, we included a question that asked about the participants current awareness of Time Finders. According to our surveys, Time Finders was essentially unknown to our respondents. Our results showed that only 6% of respondents had any prior knowledge of Time Finders. This lack of awareness significantly limits Time Finders potential market and resulting revenues. Our surveys also revealed that only 28% of respondents (lowest response category) would look for information about our service i...