Free Sample: Marketing Strategy of a Hypothetical Company paper example for writing essay

Marketing Strategy of a Hypothetical Company - Essay Example

The company plans to tap into the dissatisfaction expressed by the citizens of large cities regarding domestic alp, with issues such as high price, theft, low quality of work and high turnover rates cited. HEM aims to address these issues with professional staff that only visit the house on a weekly basis for a few hours for efficient household maintenance. Executive Summary Household Maintenance (HEM) provides a unique and revolutionary service ;n home maintenance offering a comprehensive preventive maintenance program to preserve and enhance the value, life, and beauty of people’s home in Pun.

HEM is founded to meet the needs of today’s busy homeowner and provide our customers with the precious gift of extra time. Extra time to spend on things more enjoyable and important to customers. Ham’s goal is to provide customers with comfort and peace of mind knowing that their home Is being well cared for by professionals solely dedicated to home maintenance as a core competence. HEM will constantly strive to earn the customers continued business with each and every service visit. Our goal is to provide with extraordinary service while treating customers and their homes with the utmost respect and care. . Situation Analysis 2. 1 Customers HEM desires to target various classes of customers by making Its services affordable. HEM alms to provide Its services across all major cycles In India In the next 5 years & tap the population of 30% middle class consumers who find household services expensive & a luxury. The challenge is to change the mind-set of people by making our services affordable & the best. 2. 2 Competitors HEM is aware of its Pun competitors like Spice n Span Residential Cleaning Services, Betel Facility Management & several other such firms.

All these firms provide many household services but lack In some way. We have developed a comprehensive maintenance plan for residential homes that entails over 500 work Items covering tutorial components, mechanical/electrical systems, appliances, utilities, and more. The maintenance plan has been crafted from exhaustive research into appliance, component, and equipment manufacturer’s maintenance recommendations, consumer agency safety guidelines and reliability engineering. HEM Services is the one-stop shop for home maintenance.

The cost of domestic care services is on a steady rise. The estimated cost of domestic help per annum stands at $ This market has huge potential and the scope of operations is very wide. The working middle class provides a perfect target racket as the number of women who want to be career-oriented is increasing and therefore, a need for domestic care arises. 3. Market Opportunity & Issues The market is ripe for such service as there is a lack of competition from the organized sector.

The only challenge facing the company is the housemaids from the unrealized sector. However, we will overcome that challenge by means of providing great services at affordable prices. Our company will also be of benefit to the society as we will employ people from the neurosurgeons sector and bring them under the organized sector ensuring better wages and working conditions for them, and excellent uninterrupted services for our customers. 4. Objectives Our objective is to capture at least 15%of the market share nationally within a span of 15 months.

The costs for such operations will not be very high as the market requirement is of unskilled labor and thus, labor costs will remain low. Since there is no explicit requirement of any plant or machinery the fixed costs will remain low and be restricted to rent and wages and the regular employee-benefit payments. 5. Marketing Strategy HEM plans to market its services primarily to the middle, upper middle and higher lasses in large towns/cities by using billboards, newspaper ads and other mediums.

The company understands that word of mouth is of paramount importance in the household maintenance sector in the Indian context and so, proper measures will be taken in order to provide excellent service to first time customers as well as regular customers. HEM will market itself as the intelligent, cheaper alternative to having domestic help- which it will also portray as oppressive and conducive to child labor. Time saving will also be a major marketing point for HEM. Aggressive marketing traceries will be undertaken to ensure all the people in the targeted cities know of HEM and how it works. . Target Markets The target market for our particular service will be the working middle class, upper middle class and the wealthy. We will capture the existing market share and then expand the market to provide our services to the upper middle class and the wealthy by ensuring the best possible safety and efficiency procedures practiced by the company and its employees. 7. Positioning HEM will position itself as a customer-oriented brand; a brand that gives its customers he most precious gift of Extra Time to do the things that are most important to them. 8.

Marketing Mix with different price points to meet the budgets of various customers. After exhaustive research, HEM plans to offer the following options Base package: includes weekly visits by HEM professionals for the cleaning, and dusting of the home Mid range package: Includes weekly visits by HEM professionals for cleaning, dusting, car washing, and overall general upkeep of the home of the customer Silver package: Includes twice a week visits by HEM professionals with all the features of the mid range package with he inclusion of clothes washing, gardening (if applicable), a driver and general upkeep of the customers home.