Borrow My Tools will seek to leverage its competitive edges to quickly gain market share. Borrow My Tools has developed a marketing strategy that will generate visibility for the company regarding the various services that it offers. The sales campaign will have the goal of converting possible customers or one-time customers into dedicated, frequent users of Borrow My Tools' services. The proper implementation of these strategies will be a key element in Borrow My Tools market penetration and growth into a profitable business.
Borrow My Tools will focus on two key elements which comprise the competitive edge, an advantage that will assist in fast growth in the market:
Borrow My Tools will use a targeted marketing campaign as a way of developing visibility for the company. The marketing campaign will concentrate on the following consumer benefits:
Several different marketing methods will be used:
Borrow My Tools will place newspaper advertisements in the local newspaper to raise awareness about the various services that it offers.
Borrow My Tools will also have a half page advertisement in the Yellow Pages. It expects a significant amount of business from the Yellow Pages. This is based on the philosophy that when a person is interested in a service they are not familiar with they will consult the Yellow Pages.
Borrow My Tools' sales strategy is concerned with the need to convert one-time users into frequent customers. This is especially important because any person that has a home and an improvement project has many different projects. This also applies to the handymen whose full-time job is the completion of projects that require specific tools. If Borrow My Tools is able to impress the handymen then they will make Borrow My Tools their preferred vendor.
The assurance of increased sales, driven on repeat business is quite simple, ensure that customers always have their expectations exceeded. Additionally, a customer who is happy with a service provider is will tell friends about their positive experiences. A referral from a personal friend based on experience are often the strongest recommendations that can be offered.
The sales forecast will be tracked by the different tool categories that Borrow My Tools offers. The cost of goods sold will be based on the time it takes for the service department to review each pice of leased/rented equipment and bring it back to like new specifications for the next customer.
The sales forecast is a conservative prediction of sales. It is broken down by month for year one and tracks yearly totals for years two and three. Preceding the following table are graphical representations of the forecast by month as well as year.
Borrow My Tools has identified several milestones that will assist the organization in reaching pre-identified goals. Milestones were chosen to be realistic, achievable, yet lofty. The following table details the specific milestones, what department is responsible and the time frame for accomplishment.