Business Plan for the Period Starting
January 2015
EXECUTIVE SUMMARY
Business Description
The Book Nook is a new retail business due to begin operations on January 2, 2015. The business is a bookstore intended to serve the community of Bentonville, Arkansas and the surrounding area. Our goal is to provide customers with a wide selection of material and to promote reading in the community. The Book Nook will offer a variety of books and magazines that appeal to residents of Northwest Arkansas; Bentonville currently does not have a retail outlet specifically dedicated to books. The Book Nook aims to fill this void.
Ownership and Management
Melissa and Benjamin Adams, who have been married for 11 years, own the business.
Melissa Adams has
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With impeccable customer service, extremely competitive prices, and a cozy coffee bar, customers will be converted to a sale. The Book Nook will also offer local delivery to residents.
Marketing Strategy
Our major target market is the greater Bentonville area and by extension Northwest Arkansas. Since the major industries in the area are retail and service, we will also target people involved in those industries. Children and their parents are also a major target market. Book titles will reflect the make-up of the community and their interests. In addition to best sellers and other major genres, we will also stock titles focusing on leadership and management.
Summary of Financial Projections
Our revenue projections increase from $250,000 in 2015 to $275,000 in 2017. We project small growth in revenues of .05%-1% in 2016 and 2017 due to an expected increase in the number of people buying books as well as a larger share of the greater Bentonville book market. Direct cost of sales average 60% of gross sales for the purchase of books. Net income is projected to increase from $5,000 in 2015 to $43,000 in 2017 as both unit and dollar sales
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The exterior of the building will be clean with welcoming landscape. Further plans for promotional activities include:
• Sponsorships: The Book Nook will sponsor some local sporting events, including a little league team. It will also be involved in the community, sponsoring at least one child during Christmas from the Angel Tree and helping hold fundraisers if necessary to assist customers that have medical concerns or other potential issues.
• Digital Marketing: The Book Nook will use social media to communicate with customers and to monitor posts and Tweets for feedback. We will offer special deals to our Facebook Fans. We will also create commercials to play on YouTube and on the company website.
• Television: The Book Nook will be advertising via television during some of the more inexpensive time slots. We will be targeting television programming that is more educational, such as during documentaries and possibly children’s programming.
• Radio: The Book Nook will be advertising on local radio, targeting time slots that are within talk shows.
Supply Chain
Targeted Audiences: Which One Suits You? According to Steve Craig in Signs of Life in the USA, the economic structure of the television industry has a direct effect on the placement and content of all television programs and commercials. Craig is a professor in the department of radio, television, and film at the University of North Texas, Craig has written widely on television, radio history, and gender and media. His most recent book is Out of the Dark: A History of Radio and Rural America (2009). Craig talks about the analysis of four different television commercials, showing how advertisers carefully craft their ads to appeal, respectively, to male and female consumers.
Target audience for this campaign was educated, professional men and women, ages 21- 29. These audiences should be interested in several areas of pop culture and have friends to socialize the campaign. These audiences should have social media access so they could be informed from the campaign’s social media plan.
Another acquisition would occur in March of 2013 when Amazon would announce its intentions to purchase the book social networking website Goodreads.com. While the amount Amazon paid for the deal was not disclosed it adds a new layer to Amazon’s e-book services. The Goodreads website allows its 16 million members to review and catalogue books and creates a social environment in which book lovers can interact. Like many of the other social networking sites users can create friends lis...
... book repackaged, but remain faithful to the original. In a perfect world, teens would read simply because they understand the immense benefits of reading; however, realistically sometimes teens need a gentle push to impel them toward reading. I believe this app provides that push.
Pedimented entrance to the building. Digital image of the ad. Bluffton. Web. The Web.
Amazon Kindle is one of Amazon’s recent remarkable products. Kindle is a portable device which allows user to read, download, and store e-books due to its wireless connection and internal memory (Amazon, 2009). The first version was originally launched in US market in 2007 and achieved success as sold out in five and a half hours (Patel, 2007). Later, Kindle has been through several upgraded versions; Kindle original, Kindle 2, Kindle DX, Kindle DX Graphite, and the most recent version Kindle 3 with improvements mostly on the shape, contrast, memory capacity, and operating system. Earlier versions of Kindle had been criticized for its aesthetic and user interface issues. Reviews from customers and gadget experts motivated Amazon to further improve the product.
Marketing through Social Media (Exploratory Essay) Throughout the ages there have been many intriguing ways that businesses have portrayed their product or services for accessibility. Recently, businesses have been researching how to market the businesses product through the World Wide Web. With websites such as Facebook, Twitter, Instagram, it started becoming popular within the past 20 Years. People have started to rely heavily on the internet over the past decade, whether it be for searching for information on products or people.
In developing this contemporary and iconic building, the design focuses on practical attributes and optimises energy efficiency. The design strategy encapsulates four key aspects:
We see advertisements all around us. They are on television, in magazines, on the Internet, and plastered up on large billboards everywhere. Ads are nothing new. Many individuals have noticed them all of their lives and have just come to accept them. Advertisers use many subliminal techniques to get the advertisements to work on consumers. Many people don’t realize how effective ads really are. One example is an advertisement for High Definition Television from Samsung. It appears in an issue of Entertainment Weekly, a very popular magazine concerning movies, music, books, and other various media. The magazine would appeal to almost anyone, from a fifteen-year-old movie addict to a sixty-five-year-old soap opera lover. Therefore the ad for the Samsung television will interest a wide array of people. This ad contains many attracting features and uses its words cunningly in order to make its product sound much more exciting and much better than any television would ever be.
.... Amazon uses the internet to allow customers to make content searches, for instance inside books. In addition it has used e-commerce to enable customers to buy online access to certain books through its upgrade program (Webanalyticsbook.com, 2007).
1999; Niu, Chiang, & Tsal, 2012). Therefore, manga magazine or comic books also play an important role when targeting otakus. Magazines and books are the original form of social media. The influences of these paper publications spread from domestic Japan to worldwide (Kawamura, 2006). Moreover, some otakus like collecting comics or manga books. They treat these books as a part of their daily lives, so advertising through these paper publications can help the company attract more otaku
In recent years, digital media has become more popular, and is one of the reasons why print media is facing a financial crunch. The average American adult spends five hou...
During the past few years, the publishing and reading world has been facing a veritable digital book onslaught. E-books have been outselling print books on Amazon since 2011 (Polanka, 7). While digital book sales skyrocketed, print book sales, especially those of mass marked paperbacks, diminished. Even the fact that e-books are not much cheaper than print books does not seem to interfere with the former’s popularity. It would seem that the age of print books is about to end, and quite soon.
Social media is an outlet that allows a company to introduce new products, control the speed of how they want to introduce their products and free advertisement. Sending out a tweet or putting up a status would let your customers know about a product that is released. This benefits companies because they spend less money on televised commercials, which takes more time to produce and will not reach as many generations that it could by using social media. Any social media site is free, and it takes less than 10 seconds to put out a post on any website. Facebook has also launched Facebook advertisements, which assist advertisers by showing advertisements to a user based on demographic factors, such as location, age, or gender, and which can further engage the audience by incorporating social context into advertisements, such as displaying when someone’s friend has liked an advertiser’s Facebook page (Li, Lin, & Chiu, Fall2014) . There is nearly 100 million daily active snapchatters and growing. Teenagers are constantly on their phones checking their pages so there is no way they will not know about the product being released. Marketers can discover potential customers for market positioning by filtering the content that online users mention or discuss (Li, Lin, & Chiu,
Digital marketers must keep up-to-date with the consumers preference, trends and needs, in order to meet these needs and to be able to remain competitive in the market . The connectivity created by digital media leads to enhanced product benefits such as online games and applications (Pride & Ferell, 2014). However, the use of the internet to sell products could be a disadvantage to the business since the goods being sold are intangible, the consumer could research and find reviews describing a product as low quality which could result in sale losses (Brand Driven Digital, 2013).