BUSINESS PLAN

Module 1 discussion

Week 1

Lead Logistics is a local logistics firm specializing in transporting and delivering freight (ex. furniture and appliances) locally. Lead has a very specific target audience that will guide our branding and how we will do our marketing strategically. This business will consider the VALs types when choosing our target audience. VALs highlight eight types of individuals in the market and they include; thinkers, makers, innovators, strivers, achievers, experiencers, survivors, and believers (Kohli, 2018).   

This business will target three of the eight groups of individuals, and these are the thinkers, the believers, and the achievers. The thinkers are very rational, and would not sign up until they do thorough research and considerations. They are the group that is most likely to use technology in the most functional way possible, and they prefer the traditional approach of seeking intellectual growth. The believers believe in access to basic rights, and use their faith to motivate others. They value the stability of service and will also be our target group. The achievers believe that money is the source of authority, and are hardworking, high achievers, and are guided by clearly defined goals. Furthermore, this group believes in the use of technologies that will boost their income, thus the taxi service online platform will resonate with their goals (Kohli, 2018). The most appropriate places to advertise to these target groups are through social media, outdoor branding campaigns, and door-to-door campaigns.

References

Kohli, M. D. (2018). Social media tools for department and practice communication and branding in the digital age. Radiographics, 38(6), 1773-1785.

Week 2

 The market product used is Lead Logistics. A transportation firm that transports freight locally. The freight consists of goods such as furniture and other appliances for local businesses to their customer.

      Getting this business started will require a lot of marketing since it is a market niche that is already populated, but with a lot of improvements still to be made. Marketing this service will first require the understanding of who the target market is, and how we can segment and isolate them from the rest of the community. This will guide who sees our advertisements, which will be mostly on social media. This will include paid advertisements across social media platforms to increase the number of viewers (Walters, 2017), visuals throughout the community, and in-person marketing; by going into local stores and talking to management in the attempt to secure delivery contracts.  The understanding of the target market will be guided by the VALs approach which acknowledges several demographic and psychological traits that determine consumer behavior. The key to an effective marketing approach for this business is to profile the customers to understand who exactly our target market is.

References

Walters, M. &. (2017). Customer super-profiling demonstrator to enable efficient targeting in marketing campaigns. . South African Journal of Industrial Engineering, 28(3), 113-127.