Marketing Plan

Running Head: ENTREPRENURSHIP 2

Executive Summary

Latasha Felder

Grantham University

G00170633

Entrepreneurship

November 02,2021

Executive Summary for an Embroidery Company

Abstract (Elevator Speech)

Management of the vast client base interested in embroidery is the company’s focus to promote sales processes and attainment of different business goals. The company facilitates growth in different capacities by involving a productive business structure that operates in a structured approach to managing client requirements. Employees get trained using concurrent technology and traditional methods of preparing products to suit client requirements. It is imperative to continue managing the client base by promoting high-quality products directed at generating major profits and increase in customer satisfaction. The development of products suitable to different client age groups is another business strategy that improves the company’s market share.

Executive Summary

The embroidery company’s mission is to facilitate high-quality products that suit the needs of clients. Promoting aesthetically pleasing and high-quality embroidered products is a crucial component of the company to facilitate quality services at all times. Promoting customer satisfaction is imperative since it increases the company’s productivity. Using current technological marketing techniques promotes more profits in the company since it shall be possible to gain a large market share.

The company’s information involves its organizational culture whereby a manager oversees all daily activities. Departments crucial for business continuity include the production, accounting, and information technology departments. The production team is crucial for the manufacture of products in different sizes and specifications suitable for clients. To ensure the marketing and reach a wide audience, the IT team develops and maintains an e-commerce website that promotes productive sales and service to clients. The accounting team oversees all financial management requirements that promote business development.

Management of clientage groups is imperative for the marketing procedure since it determines how the sales process would occur. The projected sales demographic group is shown in figure 1 below. The company’s growth would grow more as it manages the demographic groups and produces goods like clothes, curtains, bags, and decorative items suitable to clients’ design requirements. (Ibrahim et al., 2019). Persons in the 46-90 age group shall purchase more of the company’s embroidered products. Advertisements to such groups are thus crucial for better management of the company’s business process.

Figure 1

Apart from selling embroidered products, the company shall offer services to teach interested persons the craft of embroidery. The services would get paid on a subscription basis and allow productive management of the art and increase in its profitability. It shall be possible for the company to grow more as it sells products and offers frequent services directed at improving clients’ expertise in the art.

The embroidery company requires more growth since currently, its financing methods include personal investments and bank loans (Bobbink, 2020). It is imperative to generate more sales and increase the company’s capital since there can be more product development based on the funds. Investors would improve the company’s employee numbers which operate concurrently with major profitability in the company’s operations. Effective plans for the company include developing social media advertisements and start offering house calls for clients that require products to get decorated in their homes. These techniques will improve company profitability and generate reliable business operations.

References

Bobbink, W. (2020). Thirteen sources of finance for entrepreneurs: make sure you pick the right one! Retrieved 29 October 2021 from https://www.ey.com/en_nl/finance-navigator/12-sources-of-finance-for-entrepreneurs-make-sure-you-pick-the-right-one

Ibrahim, M. S., Hanif, A., Jamal, F. Q., & Ahsan, A. (2019). Towards successful business process improvement - An extension of change acceleration process model. PloS one, 14(11), e0225669. https://doi.org/10.1371/journal.pone.0225669

Expected Sales Process percentage of expected sales

1-7years 8-18 years 19-45 years 46-90 years 0.2 0.04 0.03 0.73