Confidential Business Plan: Do not distribute or copy this document without permission 12
Our pricing will likely be mark-up based from our wholesale purchases. This would place a flat mark-up on
all products comparable to other retail stores. We may also have periodic sales when inventory needs to
be turned over, such as seasonal products when the season demand is slowing. Our pricing will likely have
little flexibility and will be determined based on the prices quoted by wholesalers, which will decrease as
we grow and our inventory turnover levels increase.
We believe that our sales team will be the key to our competitive edge in the market. Marcus’s Hardware
Ltd. will focus on staffing sales/customer service team in-house that are educated about the products and
have a background in the industry. During down-time, the owner can reach out to property owners and
smaller residential contractors to potentially offer them quantity discounts and special service offerings
to switch from their existing hardware services provider.
Although we may not be able to gain significant media coverage because of our lack of innovation, we can
have community engagement and promote our brand by sponsoring young sports teams or academic
activities. This will gain us trustworthy exposure to the young couples demographic, which likely recently
purchased a home based on demographic profile research.
We will have two types of advertising. The first implemented is bundled brand advertising, such that we
focus on creating awareness into the overall market and focusing our value proposition. The second form
is pulse advertising based around seasonal products, such as lawn and garden during the spring. During
the first year we will gain statistics based on requested surveys distributed to customers and mailing list
registrations to determine the address for billboard placements along roadways with major traffic and
direct mail advertisements sent out to new homeowners in our area.
Website & Internet Marketing
We recognize the importance of having an online presence within social media, local search engine
optimization and a reliable website submitted to Yelp/Google Places and other directories. The Internet
is the new yellow pages and having a basic website that communicates our family focused identity,
community engagement and sector expertise will suffice initially.
It is vital that whenever anyone searches for a hardware store in our area that we are among the very top
results. Moreover, we understand the importance of reputation management and reviews, which we
believe will be a positive reflection of our overall focus on customer service. Larger hardware stores
cannot replicate our community engagement or values, they are perceived as false, which enables us to
bond emotionally with our loyal customers and establish our brand.