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MKT-301Presentation.pptxCherryman Industries Ruby Collection
By: Stephen Ghanoo
Preview
SWOT Analysis
Product Description
Product’s Features and Benefits
Market Segmentation
Integrated Communications Plan
SWOT Analysis
| Internal | |
| Strengths | Weaknesses |
| Several product lines | The price list can be intimidating and usually require the help of a sale representative to read |
| Inventory availability | Cherryman does not offer assembly |
| Varied product mix | Sale representatives are 100% commission, may have difficulty attracting new sales representatives |
| Brochure has clear images that differentiate the available options | Product line does not include standing workstations |
SWOT Analysis
| External | |
| Opportunities | Threats |
| Increased federal funding for business startups | Low barriers to entry |
| Natural disaster | Government regulations and policy stance |
| Lower interest rates for business loans |
Product Description
Product Description
The Cherryman Ruby collection consists of desks, returns/bridges, bridge/kneespace credenzas, pedestals, hutches, door storage, bookcases, lateral files, wall mounted storage, conference tables, presentation boards, reception and privacy screens.
In other words, the Ruby line offers a variety of commercial office furniture.
The Ruby Collection gets its namesake from the solid wood “Paprika-Cherry” finish. The red color scheme is perfect for any design feature, whether it be traditional or contemporary.
Features and Benefits
Features and Benefits
| Features | Benefits |
| Power/data grommets | Hides power and other cords from sight Reduces clutter behind computer screens |
| Fabric covered tackboard | Allows tacking of notes/calendars Fabric is more durable than traditional cork board |
| Overhead storage | Maximizes storage space Reduces the need for bending over |
| LED task lighting | Can provide improved lighting Saves money by eliminating the need to purchase additional lamps |
| Radiused edges | No sharp corners prevents harm for employees Reduces the amount damage that can occur to the desk |
Market Segmentation Baby Entrepreneurs
These are entrepreneurs that are making the leap into their new places of business.
A lot of entrepreneurs get started at local incubators.
Market Segmentation Daddy Warbucks
This term is more indicative of the business lifecycle.
Businesses look to expand for various reasons to include:
Unable to maintain current clientele
Looking to serve a new geographical market
Aiming to increase market share
Some of our initial Baby Entrepreneurs may become the next Daddy Warbucks.
Market Segmentation Middle Men
The sales representatives that market Cherryman Industries sell commercial furniture to retailers who, in turn, sell to the end user.
The goal is to convince the Middle Men to take on Cherryman in the hopes of attracting new clients with a furniture line that is better than the competition.
Middle Men have brick and mortar stores that they can display the furniture lines that they sell.
Market Segmentation Summary
| Baby Entrepreneurs | Daddy Warbucks | Middle Men | |
| Age | 20-34 35-44 45-54 55-64 | 35-64 | 45-64 |
| Education | College degree | College degree | College degree |
| Professional Status | Steadily employed | Steadily employed | Steadily employed |
| Trigger for expansion | N/A | Franchising current business Unable to meet customer needs Changes in regulations Entering into a new geographic market | N/A |
| Indicators of Middle Men | Showroom Have a high level of experience Proven sales skills | ||
| Psychographic | Risk takers | Risk takers | Risk takers |
| Visionary | Visionary | Visionary | |
| Excellent leadership abilities | Excellent leadership abilities | Excellent leadership abilities | |
| Overworked | Persuasive | ||
| Flexible | Well dressed |
Integrated Marketing Communications
Newspaper Ad
| Project: Cherryman Industries Ruby Line (Commercial Furniture) | |
| Action Item Name: | |
| Action Item | Advertising. Newspaper Ad. |
| Description | This ad will contain a picture of Ruby Line desk, my contact information, and “Picture your new conference room!” |
| Objective | To find older, local entrepreneurs that need commercial furniture. I won’t use the words “office furniture” because that might confuse people who want to furnish home offices. I’m specifically targeting entrepreneurs, so I will use the business section of the newspaper. |
| Target Market | Daddy Warbucks (People ages 45-65+ have the highest readership of newspapers) |
| Budget | $2,000 for a 3’ x4’ ad in the Orlando Sentinel. |
| Metric | When talking with clients I will ask how they learned about me. I will keep a running log of the answers. I will review this log monthly in order to determine the feasibility of advertising efforts. The Orlando Sentinel reaches 1.1 million people per week in print and 30.7 million monthly online views |
Orlando Sentinel Ad
Direct Mail Campaign
| Project: Cherryman Industries Ruby Line (Commercial Furniture) | |
| Action Item Name: Direct Mail Campaign | |
| Action Item | Direct marketing. Distribute postcards to business districts that may need new or more commercial furniture. |
| Description | A color postcard with a picture of a desk from the Cherryman Ruby Collection on one side and bulleted features and benefits on the other side. |
| Objective | Find new or existing businesses that are in need or new or additional commercial furniture. |
| Target Market | A direct mail campaign targeted towards business only. I WILL NOT use a mass marketing strategy to try to reach every mailbox. I would target business districts and business incubators. |
| Budget | $1800 |
| Metric | When talking with clients I will ask how they learned about me. I will keep a running log of the answers. I will review this log monthly in order to determine the feasibility of advertising efforts. |
Cherryman Ruby Line
LR&R LLC:
Stephen Ghanoo (407) 555-5555
Business Incubators
| Project: Cherryman Industries Ruby Line (Commercial Furniture) | |
| Action Item Name: Business Incubators | |
| Action Item | Personal selling. |
| Description | Deliver sales presentations at local business incubators. |
| Objective | To narrow down the entrepreneurs that will be using actual office buildings, vice home-businesses. Once I have identified these individuals, I will identify individuals with plans for larger offices. I will pitch the Ruby Line to those most likely to be in need of a sizable office. Networking with new and established entrepreneurs that frequent business incubators could prove useful in finding new clients. |
| Target Market | Baby Entrepreneurs. New entrepreneurs regardless or age, income, education level. I have identified 29 incubators in the Central Florida area that I will target according to schedule constraints. |
| Budget | $0 |
| Metric | The number of face to face meetings I secure will indicate my success. |
NeoCon
| Project: Cherryman Industries Ruby Line (Commercial Furniture) | |
| Action Item Name: NeoCon | |
| Action Item | Personal selling. |
| Description | Interior design tradeshow with over 50,000 attendees and over 5,000 companies. I will network with people in the industry; this includes potential customers and manufacturers. |
| Objective | The goal is to get in contact with retailers that need new product lines to sell and/or display in their showroom. |
| Target Market | Retailers. |
| Budget | $850. |
| Metric | The number of new manufacturers that sign contracts with and new retailers that I secure will determine the success of the event. |
Conclusion Ruby Line
“A first impression is often a lasting impression”
As your customer walks in to your place of business; let their first impression be shaped by the warm, inviting atmosphere created by you and your team of professionals. Then by the professional, clean and sharp look of the office next.
The Ruby Line has over 250 customizable options to outfit any operation.
You only get one chance to make a good first impression, let Cherryman help you and let me guide you through the process.
