Review the sample marketing plan provided in the link. While more of a template or guide than a complete marketing plan, it does outline each of the parts of a marketing plan and provides fairly detailed suggestions and example formatting and images.
Analyze the marketing plan sample (using SWOT or another analysis tool). Identify at least two strengths and two weaknesses of each plan.
Submit a Word document with the following:
This example marketing plan is provided by the Small Business Administration.
Get help starting and running your small business at SBA.gov.
J&K Auto Repair
Marketing Plan
1. Marketing plan summary
J&K Auto Repair (J&K) will build a customer base made up of local community members
and drivers on the nearby highway. It will establish a reputation of a trustworthy business
with an experienced staff and competitive prices. J&K will gain an advantage over its
competitors by being one of the only local shops to offer both auto repair services and
auto parts for sale.
2. Market research
The Bureau of Economic Analysis and Bureau of Labor Statistics show that many
members of the local community work for the nearby university. These jobs pay well,
and many university employees earn well above the area’s cost of living. There is a strong
market for non-student residents.
Half of the university students have a car on campus. The university is roughly a two-hour
drive from the nearest major city, which means many students drive long distances for
internships and to visit family.
3. Target market
J&K estimates that 80% of its customers will come from
the local community, including the university, while the
remaining 20% will come from drivers on the nearby
highway.
3.1 Local community
The local community members represent the largest
share of J&K’s customer base, and are the best
opportunity for repeat customers.
3.2 University students and staff
J&K is located near a university. Creating awareness
about the business on campus will turn students and
university staff into customers.
J&K AUTO REPAIR
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3.3 Highway drivers
Drivers on the nearby highway represent hundreds of potential new customers each day.
They are a smaller, but important, portion of J&K’s customer base.
4. Competitive analysis
In addition to J&K, there are four auto repair shops within a 15-mile radius. But only J&K
and one other shop offer both auto repair services and auto parts. In its marketing tactics,
J&K will emphasize that it’s a shop where customers can have their cars repaired and buy
parts.
The majority of J&K’s inventory includes:
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Tires
Batteries
Brake parts
Chemicals (oil, antifreeze, more)
Wiper blades
Filters, belts, and hoses
Accessories (floor mats, seat covers, more)
5. Market strategy
J&K will build out its social media presence. It’s a free and effective way to create
awareness about the business and directly engage its customer base. It will purchase
advertising space in the print and online editions of both the local newspaper and the
university newspaper. J&K will also purchase ad space on a local TV news station’s
website.
To attract customers from the nearby highway, J&K will purchase a billboard ad that will
include directions from the highway to the shop. The business also will build relationships
with local tow truck companies with the goal of getting those companies to refer their
customers, many of whom are highway drivers in need of a tow, to J&K.
6. Budget
J&K has budgeted $1,000 for marketing. These funds have already been accounted for in
the business plan. J&K has broken down the cost by each marketing tactic.
Billboard: $500
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Local news TV station digital ads: $200
Local newspaper digital/print ads: $200
University newspaper digital/print ads: $100
J&K AUTO REPAIR
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Total billboard costs
7. Return on investment
J&K will revisit its marketing plan in four months to look at which tactics worked and
which didn’t. At that time, it will decide whether to cut the unsuccessful tactics and direct
those funds elsewhere, or give them more time to work.
J&K AUTO REPAIR
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Formatting
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