target marketing

Objective

Measures of Success

Have the student body interest and excited in our business being introduced on campus.

· Conduct a poll that displays a majority of interest

To become profitable within the first year of entering the market and become self-sustaining.

· Review P and L statements and make decisions to keep business earning money.

Become a staple of campus tradition and community.

· Check back in years to come to see the campus wide impact.

Strengths

· Purdue is known for Grand Prix so this would be a marketing strength as an attraction when people visit.

· It will be easy to find people to run and maintain the property with the multitude of students looking for jobs.

· There is a major lack of competition.

· The market is large because there is nothing nearby that is similar so it will attract families, undergrad and graduate students.

· It will be located on campus therefore it will be walking distance for students

· It is open to all ages so you do not need to be 21 to enter

· It has many different activities so it will appeal to many different people for different reasons

· There will be a large space for private events.

· We have Hospitality degrees and varying business experience.

· We have access to Purdue campus for marketing and advertising.

· We have inventory experience to keep the food and beverage sections running.

· We know what students want to have from their perspective.

Weaknesses (Internal)

· Financials will be high from labor costs, equipment, design, and upkeep

· Lack of knowledge.  As a team we would have to hire someone with the better know how to design and train.

· There will be a lot of training that needs to be completed for staff

· All of the activities on this complex require a lot of land which may make finding a location difficult

· Finding a good price balance to make it appeal to college kids and make a profit will be pricy

· There will be constant upkeep for the go-karts and the batting cages machines

· The operating cost may be high to keep the go-karts running on either gas or electric

· There is a lot of liability with having so many hands on activity that we need to be covered for

· There may be a lull after launch and once the place has lost its new appeal.  May need marketing to build up client base

· We have not tried to start this specific type of business before.

· We have not had to deal with any of the legal aspects of setting up a business before.

Opportunities (External)

· Creating/building/opening an outdoor entertainment facility would be a great project for college kids since there are so many areas involved

· Purdue is famous for go-kart races, we could connect with GP and get some of their go-karts on display or use their help to design go-karts

· We could develop a membership program and have special nights just for members

· Could work along with Purdue with big conventions and have them be able to utilize our space with the amount of land it takes up

· It is a new team building activity space that will be utilized on campus

· This would be a great place for dry Greek functions as well as a fun day for any organization on campus to rent out the facility

· There could be special race nights or a competition that goes on for many nights

· We could have special promotionals during GP week to hit home the association

· We could have signs up of “all-stars” which would be people with fastest times or best golf scores ect.

· We could include F and B packages to appeal to families and larger groups and would help us make more money

· We can coordinate with the engineering and technology department and give students a chance to do some real application projects.

· There will be plenty of space to do large events for groups around Purdue.

· Being near the dorms would make us a better competitor due to potential access issues.

Threats (External)

· Winters are extremely harsh at Purdue so we would have to close business

· With it being the techy age, people are trying to do less outdoors

· There is competition with bowling in the Union

· The majority of our revenue would have to come from a limited amount of time when weather was good and students are on campus which will hurt us

· Go-kart racing could be potentially dangerous and deter people

· There will be a lot of insurance and liability that the company will need to take on to be able to have these activities

· Summer would be a slow season with less kids on campus (could market to the summer camps though)

· There is still illegal drinking that would be a competition for the complex.  Even though this is a good alternative, it is still an option.

· Because there is a need for this there may be a sports complex being built in the Lafayette area that may become competition

· The intramural sports are a big competition, but we do not require a team or a certain number to do our activities.

· We will have to get permissions from Purdue to build on campus which would be hard.

· We would need to keep our equipment up to date to stay relevant.