Promoting the grand opening should not be a problem considering the adequate budget of
$10,000. It is suggested that Thomas advertise the grand opening by the way of advertisements on bus and direct mail coupons. Using Pattison Outdoor advertisements, Thomas should advertise on both the back and side of buses. Advertising on buses is a great way to reach the entire town, as it will drive through all parts, rich and poor. These advertisements will be very visible to both drivers and pedestrians. A strong bus ad campaign may help create buzz about the new Marble Slab location. Young adults frequently use public transit, and therefore may be more exposed to the advertisements. The advertisements should focus on the Marble Slab’s location and the fact that there is now a …show more content…
The distribution of the magazine is limited to downtown Toronto, and is far away from Oakville. This option would not have been at all useful in attracting young adults from Oakville. The Toronto Star was too expensive and not focused enough. Advertising a small local store in a newspaper that is read by an extremely large geographic area would not have made sense. This is an option the national advertising fund may consider, but Thomas should not.
Financial Feasibility & Conclusion
The suggestions outlined in this marketing report will help Penny Thomas open and operate a successful Marble Slab franchise on Oakville, ON. By targeting the young adults of
Oakville, Thomas can make steady revenue to meet her commitment of $400,000 to the franchisor. If her goal is reached, it is noted that she will potentially result in a small net loss, however most new businesses do not make a profit in the first year. With breakeven revenue of approximately $427,000 (see Exhibit 1), she has a good opportunity to make profit in the future.
Following the suggestions above, Thomas’ Marble Slab will be Oakville’s new “hot” place for
young
$10,000. It is suggested that Thomas advertise the grand opening by the way of advertisements on bus and direct mail coupons. Using Pattison Outdoor advertisements, Thomas should advertise on both the back and side of buses. Advertising on buses is a great way to reach the entire town, as it will drive through all parts, rich and poor. These advertisements will be very visible to both drivers and pedestrians. A strong bus ad campaign may help create buzz about the new Marble Slab location. Young adults frequently use public transit, and therefore may be more exposed to the advertisements. The advertisements should focus on the Marble Slab’s location and the fact that there is now a …show more content…
The distribution of the magazine is limited to downtown Toronto, and is far away from Oakville. This option would not have been at all useful in attracting young adults from Oakville. The Toronto Star was too expensive and not focused enough. Advertising a small local store in a newspaper that is read by an extremely large geographic area would not have made sense. This is an option the national advertising fund may consider, but Thomas should not.
Financial Feasibility & Conclusion
The suggestions outlined in this marketing report will help Penny Thomas open and operate a successful Marble Slab franchise on Oakville, ON. By targeting the young adults of
Oakville, Thomas can make steady revenue to meet her commitment of $400,000 to the franchisor. If her goal is reached, it is noted that she will potentially result in a small net loss, however most new businesses do not make a profit in the first year. With breakeven revenue of approximately $427,000 (see Exhibit 1), she has a good opportunity to make profit in the future.
Following the suggestions above, Thomas’ Marble Slab will be Oakville’s new “hot” place for
young