I think that the marketing strategy for this company needs a huge makeover! There are many ways to promote the business without spending a fortune on the type of media being used. Based off of my research I have found that most of the people that had heard of my company were referred by a friend or had gotten a post card. Word of mouth plays a huge role in this type of business. I believe that the company needs to play on this more and focus less on advertising through mass media.
Placing handouts at boutiques, marriage seminars, women's events, and wedding shops would cost significantly less than radio spots. They would focus more efforts on hitting the exact target market rather than just throwing the name out for everyone to hear.
I also think that an improved website would create more traffic. Online orders generate sales with a higher profit margin than sales through distributors. The image portreyed online will then reflect on potential customers which will inturn lead to more parties.
Monday, November 24, 2008
Through my marketing research class we have conducted research on my company. We conducted a pilot survey of a convenience sample. The sample was broken up into two different groups of women. The first were women that were attending a party, and the second consisted of women outside retailers in the OKC area. After analysing the data we found several things that will be helpful in developing a marketing strategy. I found three specific points of interest worth addressing. First, the awareness of the website was very low. Second, the radio station that is being advertised on, and the radio station that customers primarily listen to a very different. Finally, women are coming to the parties more for education and confidentiality rather than for the fun environment of the party itself.