Essay about Business Plan

12194 Words Aug 6th, 2011 49 Pages
Executive Summary

MARKETING PLAN

PRODUCT CONCEPT

Baby Go Round, Maternity and Children’s Resale Shop’s mission is to provide a place for expecting mothers and their families to buy and sell clean, safe, gently used clothing and other pregnancy/children related items. Baby Go Round is a resale shop that focuses their attention on maternity and children. Pregnancy and childhood go by so quickly who wants to pay full price for these items? Baby Go Round provides families with an alternative to purchasing maternity and children’s clothing and maternity and children’s items at retail price. It also provides an outlet for families to sell their slightly used maternity and children’s clothing and items to the store, providing
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TARGET MARKET ANALYSIS The target market for Baby Go Round is pregnant women or families that have children. The women would fall between 21-44 and their children would be up to age 12. Baby Go Round would target an average household income of $40,000-$120,000 per year. This is based on the research that shows a typical resale shop client has an average household income of $40,000 to $50,000 (http://www.costar.com). In addition, Baby Go Round believes that this average income is rising due to the recession (http://www.knoxnews.com).

Baby Go Round has chosen Geneva, Illinois since it has a population that matches its target market. In 2010, the population for Geneva, IL was 24,416 with a growth rate of 25.12% (http://www.bestplaces.net/city/illinois/geneva). According to the 2010 census, Geneva, Illinois has a “median age of ... 36.2 at the time of the last full census survey (The United States average at the time was 35.3).” The average family size was found to be 3.31 compared to the National average of 3.14, meaning that Geneva, IL has larger families and can be concluded that they also have more children (http://www.americantowns.com). According to the 2000 US Census report, people between the ages 20 and 44 years of age make up 30.7% of the population in Geneva, IL.. The US Census data from 1999 found families who have an income ranging from $35,000 to

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