A company brand image is as important as having a viable business plan. Hard work, ethical business practices and consumer trust will be the foundation for building my brand image in order to have a competitive advantage of the competition and to obtain brand loyal customers. I will begin to build my company image through effective marketing and the building of a website to help my business stand out among the multiple golf stores. According to Glenda Jones (2000), “and catalogers and retailers move to the web, and Internet companies starting using direct mail techniques, branding is more important than ever” (p. 175). Therefore, a website will allow the company to create trust from our online customer base by providing them with high quality products at competitive prices the competition doesn’t offer.
What forms of advertising and marketing will you use?
In order to have marketing success, I will develop a strategic marketing plan that targets a specific audience. Beyond The Fairway will use the direct marketing approach to promote the business and its product. This will be done via emails, website, advertisement, and promotional material mail or passed out to potential customers. An effective market plan plays a critical role in gaining entry into the market. The textbook Launching New Ventures states, “ the marketing plan is the strategy for communicating the company’s message, developing awareness of the product or service (brand equity), and enticing the customer to purchase” (Allen, 2012, p. 215).
How will you publicize your business?
Since Beyond The Fairway is not the only golf store in the community, we will hire the public relation firm McDonald & Associates located in Dothan, Alabama to help boost the company image and acquire new customers within the community. There are many barriers in the golfing industry the hinders start-up company’s entry into the marketplace. A public relations firm will facilitate the transition into the market and shape public opinion.
How will you tap into social media to advertise your business?
The integration of social media is an essential part of my business plan. The use of the type of medium in businesses today can be the difference between success and failure. It has become an essential part of the way organizations market their product, services, and generate revenue. Rick Rector (2011), author for HME News states,
“Studies show that regular blogging helps position you and your company as an expert in your field. Linking those blogs to your Twitter and Facebook account allows your customers, both current and potential, to keep up with what you have to say and engage with you and your customer community” (p. 22).
Beyond The Fairway will incorporate the use of Facebook and Twitter into our business as a cost saving tool to reach my target market in order to increase our customer base and product sales. This will give us a competitive edge over our competition.