Marketing Plan
re* Start with a situational/SWOT analysis, by labeling the different strengths, weaknesses, opportunities, and threats faced by this business venture with regard to the sports calendar offering that you are working on. Typically, strengths & weaknesses are factors internal to the firm, while opportunities & threats are factors posed by the external environment.
Strengths- The rising number of students each year are going to contribute to the growth and sales of the student calendar. There is a 7% annual growth rate, which would allow for the calendar to grow and increase sales each year. 66% of the students that showed interest in purchasing the calendar were freshman. Since the majority of the 7% growth rate is contributed to incoming freshman, there is a large growing market of consumers. The campus bookstore only sells 2 types of calendars. Both of these calendars are not school spirit related, and they are not a school year calendar. Since the students plan to create a school year calendar with student/school spirited photos, there isn’t any competition with a school calendar within the bookstore.
Weaknesses- The students have a limited time frame in order to develop and market their calendar. They are only given 9 months until the start of the fall semester to develop, create, and market their calendar to the students. Also, the students only have around 20 hours per week to dedicate to the project. With a limited start up budget of $8,000, the students need to use their money wisely. Since they need to sell the calendars in order to pay for their grad school, they are starting a high-risk project. If the calendar does not sell well, they are losing the $8,000 they raised and are not generating profit to pay for their tuition.
Opportunities- Since FAU has 8 campuses; there is an opportunity to sell to a broad area of all 8 campuses. With the start of the new football team, there will be an increase of school spirit and school related pride.
Strengths- The rising number of students each year are going to contribute to the growth and sales of the student calendar. There is a 7% annual growth rate, which would allow for the calendar to grow and increase sales each year. 66% of the students that showed interest in purchasing the calendar were freshman. Since the majority of the 7% growth rate is contributed to incoming freshman, there is a large growing market of consumers. The campus bookstore only sells 2 types of calendars. Both of these calendars are not school spirit related, and they are not a school year calendar. Since the students plan to create a school year calendar with student/school spirited photos, there isn’t any competition with a school calendar within the bookstore.
Weaknesses- The students have a limited time frame in order to develop and market their calendar. They are only given 9 months until the start of the fall semester to develop, create, and market their calendar to the students. Also, the students only have around 20 hours per week to dedicate to the project. With a limited start up budget of $8,000, the students need to use their money wisely. Since they need to sell the calendars in order to pay for their grad school, they are starting a high-risk project. If the calendar does not sell well, they are losing the $8,000 they raised and are not generating profit to pay for their tuition.
Opportunities- Since FAU has 8 campuses; there is an opportunity to sell to a broad area of all 8 campuses. With the start of the new football team, there will be an increase of school spirit and school related pride.