Strategy and Implementation Summary
Electronic Detectives’ overall strategy is to capitalize on client’s buying patterns of demanding top-quality work with an emphasis on thoroughness in investigations to reputable companies.
We intend to create industry standards of excellence that will be leveraged into a significant brand image and name that will provide us with a highly defensible market position. This will allow us to have a higher profit margin than our competitors.
5.1 Sales Strategy
Initially, sales will be dealt with by Mr. Radcliffe and Mr. Orcott, as they have the most number of contacts in the industry. Mrs. Walters will handle the administrative side of sales to our clients including customer service and billing. As the company grows, we expect to add to our staff a permanent sales force to handle all aspects of our sales strategy.
In the majority of cases, we anticipate that the entire project will last about ten days from the time we have permission to go on site. This will insure good turnaround and customer satisfaction. We intend to have close customer relations by having each job developed, scoped, sold, and fulfilled by the same people.
5.1.1 Sales Forecast
Sales are based on the various contract projects we anticipate acquiring in the various market segments. Revenues are based on average costs per project based on estimated time and complexity of project plus an undisclosed profit margin. The company does not have any significant direct costs of sales.
|Year 1||Year 2||Year 3|
|Intellectual property lawsuits||$14,000||$60,000||$120,000|
|General practice lawsuits||$30,000||$75,000||$100,000|
|Direct Cost of Sales||Year 1||Year 2||Year 3|
|Subtotal Direct Cost of Sales||$0||$0||$0|
5.2 Marketing Strategy
In order to attract clients, Electronic Detectives will offer free consultations or an initial contract at reduced prices to promising firms. These promotions will build our reputation. In addition, Mr. Radcliffe and Mrs. Walters will be traveling to six trade shows and conventions across the Midwest and Western part of the country where we will have booths to advertise our services. Finally, we will be setting up cold calls to potential clients and have half and full page advertisements in such publications as Nation Law Journal, The Journal of Corporate Law, and Eisley’s Law Review.