Marketing Plan (Funeral Home)
Marketing Plan
8/23/04
EXECUTIVE SUMMARY It starts off with a competition analysis. This gives a good background on the competition of the industry. It goes into detail about key points in the competition at a national level and also at a local level dealing with our own personal competition. The plan conducts a SWOT analysis in detail about how our business matches up with its competition. The SWOT analysis takes me into our business relationships. It goes through the importance of alliances and our relationships with other businesses. Next is our target market. This gives a good description of who we are targeting for our business and who we aren't so much. After the target market, it guides you through our marketing strategy. This includes pricing, financial, marketing, and promotional strategies involved in the funeral business. After the strategies, it gives a thorough description of the services we provide and the prices. That leads the plan into the promotional decisions. This includes different ways our firm will promote our business to the public. Finally, it concludes with an evaluation of the performance of our business. It measures how well we reached our goals and what we need to improve on.
INDUSTRY AND COMPETITORS
The funeral home industry has been at a steady decrease for the past decade. Not only is this present at a local or regional level, but at a national level. The traditional funeral service and burial are becoming less favored. Instead, across the country, families are preoccupied by external distractions. These distractions have nothing to do with the funeral homes' capabilities, but with the growing popularity of cremations. "Our cremations have tripled in the past 5 years," said Jason Monell, a funeral director in Northern Kentucky. Cremation has been a popular choice in the West for years, but the trend is sweeping the country as cremation gains wider acceptance. "In 2002, arrangements for 22 percent of all deaths
8/23/04
EXECUTIVE SUMMARY It starts off with a competition analysis. This gives a good background on the competition of the industry. It goes into detail about key points in the competition at a national level and also at a local level dealing with our own personal competition. The plan conducts a SWOT analysis in detail about how our business matches up with its competition. The SWOT analysis takes me into our business relationships. It goes through the importance of alliances and our relationships with other businesses. Next is our target market. This gives a good description of who we are targeting for our business and who we aren't so much. After the target market, it guides you through our marketing strategy. This includes pricing, financial, marketing, and promotional strategies involved in the funeral business. After the strategies, it gives a thorough description of the services we provide and the prices. That leads the plan into the promotional decisions. This includes different ways our firm will promote our business to the public. Finally, it concludes with an evaluation of the performance of our business. It measures how well we reached our goals and what we need to improve on.
INDUSTRY AND COMPETITORS
The funeral home industry has been at a steady decrease for the past decade. Not only is this present at a local or regional level, but at a national level. The traditional funeral service and burial are becoming less favored. Instead, across the country, families are preoccupied by external distractions. These distractions have nothing to do with the funeral homes' capabilities, but with the growing popularity of cremations. "Our cremations have tripled in the past 5 years," said Jason Monell, a funeral director in Northern Kentucky. Cremation has been a popular choice in the West for years, but the trend is sweeping the country as cremation gains wider acceptance. "In 2002, arrangements for 22 percent of all deaths
Bibliography: Conner, Deirdre. "Roanoke, Va entrepreneur anticipates demand for cremation boxes." Roanoke Times. 7/06/2004. Newspaper source http:/search.epnet.com/direct.asp?an=2W62640226228&d=nfh. Monell, Jason. Personal Interview. 8/15/2004.