Business Plan on "Business Plan for Marketing and Advertising Organization"

Business Plan 17 pages (4641 words) Sources: 10

[EXCERPT] . . . .

Business Plan for Marketing and Advertising Organization Creativity Sure

Company Description

Mission Statement

Offers to Customers

Organizational Goals

Industry Analysis

Competition

PEST Analysis

Marketing Analysis

Target Market

SWOT Analysis

Marketing Mix

Business Model and Resources

Business Risks and Business Strategy

Planning and Financial Considerations

The contemporaneous business community is characterized by numerous features, one of the most notable of its characteristics being the incremental focus placed on customer attraction, retention and satisfaction. This feature has generated an intense need for marketing specialists that are able to support companies in developing and implementing the most suitable marketing strategies that maximize their chances of a successful outcome. Creativity Sure is such a company and the aim of this business plan is to reveal numerous features of the company, including its goals, product and service offering, an objective analysis of the market, the business model and the resources to be used, the barriers or planning considerations. The paper will come to an end with a section on financial estimates regarding the cash flows, P&L and balance sheet for the first three years of operations.

2. Company Description

Creativity Sure is a small size company, at the time hiring no more than 20 individuals, organized as follows: one marketing manager, one financial manager, five marketing specialists, three marketing assistants, two designers, two IT specialists, four sales personnel and two cleaning staff. The company was established to activate in the advertising industry and offer specialized assistance to numerous companies in the regional environment. Despite its relatively reduced size, Creativity enjoys several benefits, such as highly capable and adaptable staff members or the incorporation of cutting edge technologies in their product and service offering.

2.1 Mission Statement

Creativity Sure's mission statement comprises of the elements most crucial to its operations -- the customers, the employees and the profits. Basically, it has been constructed to state the following:

At Creativity Sure, we are committed to helping our customers adapt and respond to the emergent challenges of the modern marketing community by presenting them with high quality products and services, created and delivered by highly skilled staff members. In achieving our financial goals, we make customer satisfaction, employee satisfaction, environmental and social responsibility our main values.

2.2 Offers to Customers

Creativity Sure is able to handle an entire marketing campaign for any given customer. Our services commence at consulting in matters of packaging, product placement or enhancement of brand recognition to end with promotional sales and product strategies adjacent to the life cycle of a respective product (introduction, growth, maturity and decline). Aside consultancy services, Creativity Sure is also able to create advertisements applicable in various media channels (television commercials, street banners and flyers, radio advertisements, inscriptions for automobiles, internet advertisements and so on). The company ensures all customers of the uniqueness of their order, of the increased levels of commitment to serving the customer and of the customization of the marketing campaign to the unique characteristics of each client.

2.3 Organizational Goals

Creativity Sure's objectives are organized onto three categories: (1) achieve customer satisfaction through the offering of high quality products and services; (2) create a pleasant and challenging working environment that cherishes and reaps the benefits of employee diversity and (3) register sufficient levels of profitability that allow us to continually reward our employees but also continually invest in improving our skills, increasing our popularity and maximizing our chances of success in the industry.

3. The Idea

The idea at the basis of Creativity Sure, as revealed by the actual name of the company and by its UPS is that of customization of each marketing endeavor to the unique features of each customer. Otherwise put, the unique selling proposition is that Creativity Sure responds to the specific requirements of each customer by developing marketing campaign suited to the personalized needs of each client. The company will not use the same ideas for more that one customers and will nominate a specialized team to address the specific needs of each customer.

The development of the idea occurred with the realization of the increasing levels of competition within the business community and the growing focus on marketing campaigns that attract the consumers. More specifically, increasing numbers of economic agents place more emphasis on marketing operations as a determinant of their overall success. However, not all companies are able to hire marketing specialists with full time norms. Creativity Sure comes to the aid of these economic agents by collaborating with them on temporary basis, as required by each marketing endeavor (such as the launch of a new product line or the strengthening of the brand). The costs of such a practice are reduced in comparison to those of hiring a permanent marketing team and the gains materialize in that the campaign or certain elements in the campaign, as requested by the client, are customized to meet unique needs. Despite the attractiveness of this idea, its feasibility is challenged by the need to invest large sums of money.

4. Industry Analysis

The generic name of the industry in which Creativity Sure will operate is that of Advertising and Public Relations Service Industry and the players within are generally focused on creating media campaigns that promote the products, the image or the interests of their customers. Throughout the past few years, the sector has significantly expanded and so has the number of people interested in getting a job in advertising. The competition for jobs (in fact, the number of job seekers is significantly higher than the number of available positions) can be simply explained through the fact that advertising is a glamorous domain. However, layoffs are current and they often occur whenever the advertising company loses a contract with a client and is unable to rapidly replace it. Also, jobs are lost when major clients cut their advertising budgets or when advertising organizations decide to merge. Mergers and acquisitions are also common and they are often decided in order to strengthen the competitive position of the respective entities.

In 2006, there were 48,000 players in advertising and public relations industry in the United States alone. From these, 40% offered full services to their customers, in the meaning that copy-write, design and air advertisements on multiple media channels -- only these entities that offer full services are regarded as advertising agencies. Despite its relatively reduced sizes, Creativity Sure is an advertising agency as it offers the full range of marketing and advertising services. Of the remaining 60%, most of them are specialized in a single field of operations and on a niche market, such as the creation of billboards or the distribution of samples. The internet has come to play a major role in the operations of advertising companies as more and more economic agents use it to promote their customers' interests. Ultimately, "advertising and public relations services firms have found that highly creative work is particularly suitable for their services, resulting in a better product and increasing their clients' profitability" (Bureau of Labor Statistics, U.S. Department of Labor, 2009).

4.1 Competition

As previously mentioned, the advertising and marketing industry is characterized by intensifying competition. Yet, it has to be noted that just like in any other industry, there are two types of players -- small size entities and large companies. The demand for the services of these institutions is generated by the needs of economic agents that manufacture and sell consumer goods, entertainment products and services (such as film makers or restaurants), financial services, technologies and telecommunication products and services. The success of an advertising organization depends directly on its ability to generate creative outcomes and maintain fruitful relations with its customers. The large size companies enjoy the benefits of scale economies, or increased access to resources and customers, whereas the small size entities are best able to compete in the local markets by offering a limited array of specialized products and services (Hoovers, 2009). Creativity Sure is set to defeat the odds in the meaning that we aim to offer a large scale of customer services, just like a large size company, but within the resource constraints of a small size company. Despite the challenges such a proposition implies, we believe that the current approach will minimize the limitations of the two separate types of advertising entitles, combine their benefits and maximize ours and our customers' chances of successful outcomes.

The ten most notorious players in the American advertising industry are Yahoo! Sure, Google Sure, The Endeavor Agency Sure, Amazon.com Sure, Safeway Sure, AOL LLC, Staples Sure, the Convergys Corporation, the R.R. Donnelley and Cons Company and the Dun and Bradstreet Corporation (Hoovers, 2009). They are all present at a global level and possess large and loyal customers, as well as sufficient resources to maintain their customers and status. It is as such probable that they will not consider Creativity Sure as a threat. In terms of small size entities in the region, these refer to three players -- Karina Advertising (specialized in billboards), Falling Agency (specialized in marketing via… READ MORE

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