Bower Buddies Business Plan
Change all reference of Richmond, Virginia to Ft. Lee, Virginia
Write a four to five (5) page paper in which you:
1. Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension.
2. Assemble a marketing strategy for your product, and determine an appropriate time table to implement your plan). Provide a rationale for your response.
3. Prepare a positioning statement. Include a perceptual map that shows your company's position against its competitors. From this map, create a statement that depicts your position. For example, “Our product is the fastest in its class for half the price.” Note: See pp. 54 - 55 in the textbook for examples of perceptual maps. You may use Microsoft Word, PowerPoint, or other equivalent software to create your perceptual map.
4. Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement and marketing strategy are right for the identified target market.
5. Develop your company's mission statement and company introduction.
6. Use at least five (5) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources.
Your Company Name: Marketing Plan
Branding Strategy
(Thoroughly develop a branding strategy for your product / service that covers the brand name, logo, slogan, and at least one (1) brand extension.) Simply highlight and retype over this information.
Brand Name
Enter your Brand Name Here, discuss why you chose this brand name, how it will align to your target market and your product.
Brand Logo
Enter your logo here ( it does not need to be very large), discuss why you chose this brand logo, how it will align to your target market and your product.
Slogan
Enter your slogan here, discuss why you chose this slogan, how it will align to your target market and your product.
Brand Extension
Enter your Brand Extension here, discuss why you chose this brand extension, how it will align to your target market and your product and why you chose it.
Overall Strategy
Enter your overall strategy including all of the previous headings in this section.
Marketing Strategy
(Thoroughly assemble a marketing strategy for your product, and thoroughly determined an appropriate time table to implement your plan). Thoroughly provided a rationale for your response..) Simply highlight and retype over this information.
Positioning Statement
(Thoroughly prepared a positioning statement. Thoroughly included a perceptual map that shows your company's position against its competitors. From this map, thoroughly created a statement that depicts your position.) Simply highlight and retype over this information.
Positioning Statement
Enter your Positioning Statement here and discuss why you chose this statement, how it aligns to your target market, how it aligns to your business, why you chose it, etc.
Perceptual Map
Enter your Perceptual Map here. Look in your textbook at Chapter 15, there are numerous examples.
Customer Behavior
(Thoroughly examine the relevant consumer behavior for your target market. Thoroughly explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement and marketing strategy are right for the identified target market.) You do not have to hit TAB or ENTER to space over, the template is set for you. Simply highlight and retype over this information.
Company Introduction and Mission Statement
(Thoroughly develop your company's mission statement and company introduction) Simply highlight and retype over this information.
Company Introduction
Enter your Company Introduction here, discuss why you chose it and how it will help your business.
Mission Statement
Enter your Mission Statement here, discuss why you chose it and how it will help your business.
Conclusion
(Enter your conclusion here.) You do not have to hit TAB or ENTER to space over, the template is set. Simply highlight and retype over this information.
References
(Enter your references here.) You do not have to worry about spacing the second line over to be in accordance of APA, because as you can see, the format is set in the template. Hit enter after this line of text and enter your references, then go back and delete this text.
You are required to have a minimum of 5 references.
Bowers Buddies
Student’s Name
Institution Affiliation
Bower Buddies Business Plan
Brand Strategy
The business will go by the brand name Bowers Buddies. . The term “Bowers” is an emblematic word which implies that Bowers Buddies pet home or pet den that offers careful and safe seclusion for pets. Similarly, the term “Buddies” means a friendly and caring environment or home for pets. Therefore, the name Bowers Buddies is a suitable brand name since it paints a picture of a caring, friendly and welcoming image to the clients’ mind who will develop trust and confidence to leave their pets on our hands.
Brand Logo
The logo is designed together with the business slogan to create a unique recognition to the clients. The logo conveys the tone of the business, whose main aim is to provide products and services that will help pet owners to have a peaceful (Pearson, 2016). Also, the logo helps the business to develop an immediate acumen on the business products and services to clients. The logo not only build the Company’ brand recognition but it will give a definitive identity from other competitors.
Brand Slogan
The company shall adopt the slogan, “Show Them You Love Them.” The slogan is a psychosomatic phrase set to question pet owners on whether they are taking care of their animals or not. Americans are known to be pet lovers, and they will be willing to purchase any service available to control, prevent and maintain the health conditions of their animals as a way of expressing love and care to them.
Brand Extension
The company has an underlying plan to adopt two forms of brand extensions, namely horizontal and vertical expansion as growth cooperate level strategies in the long run. Under horizontal expansion, the company will open other lines of business in Ft, Lee neighborhoods such as Carytown, Oregon Hill and Randolph to capture the lucrative pet market in Virginia. The plan will be initiated by locating strategic positions in these segments, and increasing the number of employees to facilitate the operations in those segment. Under vertical expansion, Bowers Buddies plans to go nationwide by purchasing a franchise from G’day Pet Care Company, which is an already established pet care provider with over 7000 stores across the U.S. Choosing G’day Pet Care offers an appropriate franchise relationship since they provide products and services that are similar to what Bowers Buddies is going to offer.
Over Strategy
The establishment of a strong brand will be centered on the four core competencies of the Company, namely Quality, Uniqueness, Friendship and Integrity. The core values are set to create a buddy-like relationship between the Company and pet as well as the Company and pet owners. The brand strategy is built a recognizable brand based non consumer behaviors and assumptions. For example, consumers always thinks of their pets as family member and always ready to care about the health and well-being of their family pets. All the pet owners have high expectation in terms of quality, unique and affordable products and services. The product adoption will base on the needs and gaps in the market and designed by pet care professionals, which will lead to brand establishment, acceptance and recognition.
Market Strategy
In the first year of operation, Bowers Buddies market strategy will be focused on building a friendly relationship with the few clients to build early customers loyalty. Actual marketing efforts will include advertising through local pet shows participations and social media platforms such as Facebook and Instagram. In the subsequent years, the Company will strengthen its marketing effort and expand their advertising options to include celebrity endorsements, ads on pet industry lifestyle magazines, TVs, sponsoring pet shows and franchise boost from G’day Pet Company. In particular, the content in ads will be set to evoke customers’ emotions to establish a deep understanding and mutual beneficial relationship (Luther, 2011). For example, through pet shows and competition, the Company will use this opportunity as a way of accessing the customer’s mind and heart of their customers. To tap clients’ mind, the Company will use the promotion stages to educate customers on the benefits of pet care and inform them of the available services and products they can purchase to show love and care to their pets (Int'l, 2011). To capture client’s heart, the Company will set a program to register pets’ details such as name, age, weight and breed, where the company can send a celebratory email for each pet’s birthday.
Positioning Statement
Bowers Buddies core idea is to ensure pet owners experience fun and happiness with healthy and well groomed pets. Additionally, the Company’s intends to expand to other states within the USA in ...