Strategy and Implementation Summary
The following sections will outline the marketing and sales strategy for CS.
5.1 Value Proposition
Chicano Stylez offers customers high quality clothing, unique and diverse products, a cultural community center, and educational services for children.
5.2 Competitive Edge
The following components make up the competitive edge for CS.
- Unique and high quality products and services
- Cultural atmosphere
- Loyalty amongst customers
5.3 Marketing Strategy
Our marketing strategy will focus on pricing, promotion, distribution, sales strategy, and forecast.
We are focusing our market on the Hispanic/Chicano population of downtown Eugene. Our strategy will embrace these customers as a community with respect and esteem. To do this, our marketing resources are centered around customer loyalty and satisfaction. Our strategy also embraces the idea of consistency.
- The marketing budget will not exceed $5,000 a year.
- Our marketing promotions will remain true to our company objectives and mission statement.
We target people who look for a high quality and unique product as well as a cultural atmosphere. Unlike other Latin based retailers, we offer community involvement.
- CS is a store for continued customer purchase and loyalty. It is crucial to maintain a consistent pricing strategy.
- We will not exceed a competitor's price by more than 5-10%, and will always honor a competitor's price when dealing with a customer.
- CS will maintain an advertising plan that will consist of a radio advertisement on the local spanish station and a display in the phone book.
- Publicity is the essential strategy for CS. We aim to involve the community through public relations and utilizing different forms of media to get our name out.
Our most important marketing programs are:
- Publicity: Through media, get our story and mission statement out in the community.
- Sales promotion: Have a prominent booth at the park to collectively speak to the community and offer our products for free.
- Encourage employees to sell by giving bonuses based on performance.
- Have a large base knowledge of products so that we can sell quality to the customers.
- Display sample items and have a great return policy to build trust and loyalty to increase customer base.
5.4 Sales Forecast
We expect sales to increase at a steady rate of approximately 2-5% for the first year. It will begin slow as we open, but will quickly pick up as our customer base increases. In December it will jump to 9% due to the holidays.
CS would like to see an increase of 20% for the year 2002, and an increase of 30% for the year 2003. We feel that we can accomplish this steady goal and maintain this amount of sales.