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The document discusses strategies for a plumbing business to attract wealthy clients in the high end home renovation industry. It recommends increasing prices by 4% annually to boost margins and revenue per customer. Unique selling points are highlighted as using top quality materials and crews to provide 3D renderings of renovations. Marketing will target wealthy neighborhoods through client databases, social media, and search engine optimization. A 4% annual revenue increase is forecasted.
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Ad
marketing mix
- 1. Strategy? Attracting wealthy clients Increase margins+ increase the revenue earned by customer+ create awarness
- 2. Segment? High end segment of the renovation industry Advantages: less economically sensitive than the other groups
- 3. Unique Selling Points? Quality -Top notch crew -Best material Skill 3D images of the future renovation
- 4. Marketing Mix Diagram Target Market Product Price Place Promotion A new Associate: A Plumber who worked with high end segments before Wealthy Neighborh ood: West Mounts & West Island & Building in Ville-Marie Keep Increasing the price: Start by 4% Advertise on the new plumbing services: Database Actual clients + Social Media + SEO
- 5. Revenue projection? Forecast raise of 4% per year
Editor's Notes
- #3: Mr Kadiri primarily in the high-end segment of the renovation industry, which is who he will continue to target under this plan. This group is less economically sensitive than the other groups, which will be useful in offsetting some of the negative economic news emerging in the housing sector.
- #4: -Kadiri earned his reputation for quality control by ensuring that he only worked with a top-notch crew and used only the best materials. This required him to spend more than his competitors in capital, labour, and supplie, however the end result was that he was able to continue accruing a higher-end clientele. -In addition, as a result of his background, Kadiri was also able to offer his clients 3D images of his future renovations. This assuage any concerns customers may had, and ensured a smoother sales process as well. It was also an innovation that his competitors could not replicate, earning the company a significant competitive advantage.