Marketing Strategy for a Self-Storage Business
Marketing Strategy for a Self-Storage Business
By:
Mayra Ramirez, Alyson Voyles, Suzanne Guebara
Andrew Buckham, Israel Tijerina
Contents
EXECUTIVE SUMMARY 1 THE CHALLENGE 2 SITUATION ANALYSIS 2 Company Analysis 2 Customer Analysis 2 Competitor Analysis 3 Climate 4 SWOT Analysis 4 MARKET SEGMENTATION 6 MARKETING STRATEGY 7 Product 7 Price 8 Distribution (Place) 9 Promotion 9 CONCLUSION 10 BIBLIOGRAPHY 11
Figure 1 - Competitor Pricing 3 Figure 2 - SWOT Analysis 5 Figure 3 - Locations and Pricing 8
EXECUTIVE SUMMARY
WK Investments operates 4 self storage facilities in the Midland/Odessa area. These facilities operate as Loop 250 Self Storage Center and Midkiff Self Storage Center in Midland, and as West County Road Self Storage Center and Grandview Self Storage Center in Odessa. While the company is the market leader in this area, we feel there are certain measures the company can take that will help both maintain a market leader position and possibly attract new customers.
WK Investments currently has a strong market position as a leader in the market. They do have higher prices than the competition; however, the current position allows them to be the price setter in their perspective markets and their prices are justified with their superior products/services.
In researching the customers that use the facilities most often, we recommend the following market segments to focus on: * Homeowners * Renters * Vehicle Owners * Renters
The marketing strategy that we recommend for the company is a strategy of differentiation. We feel that this approach is best suited for the company because their product is superior to competitors in the area. Because we want to highlight the special features of each location as well as the superior service, we feel that the differentiation approach would work best for this company.
After a careful analysis of the company’s customer, the competition, and other
By:
Mayra Ramirez, Alyson Voyles, Suzanne Guebara
Andrew Buckham, Israel Tijerina
Contents
EXECUTIVE SUMMARY 1 THE CHALLENGE 2 SITUATION ANALYSIS 2 Company Analysis 2 Customer Analysis 2 Competitor Analysis 3 Climate 4 SWOT Analysis 4 MARKET SEGMENTATION 6 MARKETING STRATEGY 7 Product 7 Price 8 Distribution (Place) 9 Promotion 9 CONCLUSION 10 BIBLIOGRAPHY 11
Figure 1 - Competitor Pricing 3 Figure 2 - SWOT Analysis 5 Figure 3 - Locations and Pricing 8
EXECUTIVE SUMMARY
WK Investments operates 4 self storage facilities in the Midland/Odessa area. These facilities operate as Loop 250 Self Storage Center and Midkiff Self Storage Center in Midland, and as West County Road Self Storage Center and Grandview Self Storage Center in Odessa. While the company is the market leader in this area, we feel there are certain measures the company can take that will help both maintain a market leader position and possibly attract new customers.
WK Investments currently has a strong market position as a leader in the market. They do have higher prices than the competition; however, the current position allows them to be the price setter in their perspective markets and their prices are justified with their superior products/services.
In researching the customers that use the facilities most often, we recommend the following market segments to focus on: * Homeowners * Renters * Vehicle Owners * Renters
The marketing strategy that we recommend for the company is a strategy of differentiation. We feel that this approach is best suited for the company because their product is superior to competitors in the area. Because we want to highlight the special features of each location as well as the superior service, we feel that the differentiation approach would work best for this company.
After a careful analysis of the company’s customer, the competition, and other
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