Bookstore Marketing Plan

The weakest part of Overholt Bookstore’s current marketing plan, besides not having one, is the lack of consist weekly consumer foot traffic. The Bookstore has a surplus of consumer foot traffic at the beginning and at the conclusion of each semester, but remains stagnant in between.

DMC’s HACC Bookstore marketing plan will increase this area and rejuvenate the Bookstore to become the authority for collegiate supplies. The stipulation of this plan is that this will all be accomplished for under the $10,000. 00 budget. Situation Analysis Company AnalysisThe young company of DMC has awakened the Marketing Industry ever since it conception ten years ago. With forward thinking and fresh ideas, DMC has quickly risen to the top of the Marketing Industry and has become the choice for National and International brand management for companies like Apple Inc (iPad and iMac), Sony Records Corporation (Justin Beiber and Jason Durillo), EA Sports LLC (Madden 2010 and Call to Duty II), and Broadway Productions Inc.

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(Avenue Q and Jersey Boys). DMC’s current advertising portfolio holdings are estimated at $1. 2 billion dollars for the next 5 year.Organized and incorporated while the founding members were students of HACC themselves, this current marketing plan is an endeavor of love and gratitude towards their alma mater as much as being a leader in the Marketing Industry. Derrick Beard, Cofounder and Vice President of Video Game, has not only developed an impressive collage of top selling video games but also heads the department of Gaming Advertising. His succesful product launch of Madden 2010 and Call of Duty II has once again proven his expertise and industry leading concepts of “Speed Branding” that has captured the broad consumer market of video games.

This market’s consumer demographic ranges from 10 to 50 years of age. Mr. Beard has secured a 10 year partnership between EA Sports and DMC for all Marketing Plan rights. His knowledge of diverse age demographics and “Speed Branding” will be a cornerstone of our marketing plan to understand the complexity of consumers at a community college. Jonathan Fertal, Cofounder and Vice President of Technology, has had a long term partnership with Apple Inc.

since the conception of DMC. DMC’s first major marketing campaign was for Apple’s iPad and iMac.While working with Apple’s CEO Steven Jobs, Mr. Jobs was impressed with then little know marketing company comprised on community college students. With Mr.

Job’s assitance and guidance, DMC became to be known in the Marketing Industry as “The Apple of Advertising,” because of its uncharacteristically innovative marketing mixes. Jonathan’s double Masters Degree in International Business and Marketing from University of Pennslyvania’s Wharton School of Business has shaped his understanding of global consumer habits. Currently DMC the exclusive rights to Apple’s marketing program.Mr. Fertal’s undertanding of technology as a cornerstone for education will be utilized.

Mihir Patel, Cofounder and Vice President of Theater and Entertainment/Public Relations, played a key role with his marketing mix for the Broadway smash hit Avenue Q and Jersey Boys. Mr. Patel thorough knowledge of the Theater, on and off Broadawy, Market has solidified DMC as the benchmark of marketing for all theater companies to include New York, Las Vegas, London, Duboi and Hong Kong. Mr. Patel’s foundamental views on Public Relations and “Consumer Individuality” program has become the ndustry norm for understanding diversity and individuality within the every changing global employment field.

Mihir Master’s Degree in Sociology from NYU with a minor in Theatrical Productions has aided him to develop his theatrical eye that will be beneficial to HACC’s marketing plan for visualization and consumer behavior analysis. Chio Sheppard, President of DMC and Vice President of Music/Recording Industry, conjunction with Sony Records Corporation has made Jason Duirillo and Justin Beiber world wide phenons in the music industry.His “Vocal Branding” program has propelled both musicians to the top of the R and B charts. Mr. Sheppard’s mentors of Quincy Jones and DJ Fab Five Freddy has shaped his understanding of the Music Industry as well as his Masters‘ Degree in Contemporary Music Studies and Economics from Juillard and Stanford University.

Through his persistenc and forward thinking, DMC is the sole marketing company for Sony Records Corporation. Chio has become the ligthing rod for the Music Industry’s crusade adgainst illegal music downloads. His unique $. 0 per play and “Vocal Branding” has almost elimiated illegal music downloads from the cyberworld. Mr.

Sheppard’s understanding of elasticity of supply and demand will be a cornerstone for HACC business plan. DMC’s Mission Statement In the ever crowded market place of advertising, Dynamic Marketing Concepts Inc. will partner with clients to achieve: 0 Their ambitious marketing goals and strategic brand objectives 1 Deliver the highest professionalism and services 2 Provide creative solutions, forward initiatives, timely responses and strategic planning 3 Industry leading customer service.Customer Analysis Consistent with traditional community colleges, HACC’s core value of providing an affordable education to its surrounding community has developed a diverse student population. The student population, HACC Bookstore’s primary customers (referred henceforth as customer), are more varied and diverse than traditional four year colleges and universities. According to HACC’s Harrisburg Student Population Demographics, Fall Semester of 2009-10 the total student population is 10,642 has a median student age is 26.

9 years old comprised of 42% full-time and 58% part-time students.HACC campus wide has experienced a 33. 5% increase in student enrollment since 2005-06. This equals a large diverse customer base that is growing. This is one of the few areas in the United States economy that is expanding during the recession that must be captured as our customer base.

The Bookstores customers can be divided into two large categories; traditional and non-traditional students. Ex. 1 Ex. 2 The marketing plan will define traditional student as a student who has graduated from high school within the last six months.This group will be treated as customers that are looking for fashion, individuality and style in this particular order of wants and needs.

This group is not particularly interested in price as much as fashion. There is not a precise definition for non-traditaionl students, although age and part time working status are common defining attributes. A non-traditional student has the following characterisitics: 4 “Delays enrollment (does not enter postsecondary education in the same calendar year that he or she finished high school). Attends part time for at least part of the academic year. 6 Works full time (35 hours or more per week) while enrolled. 7 Is considered financially independent for purposes of determining eligibility for financial aid.

8 Has dependents other than a spouse (usually children, but sometimes others). 9 Is a single parent (either not married or married but separated and has dependents). 10 Does not have a high school diploma (completed high school with a GED or other high school completion certificate or did not finish high school). (NCES) This group will be treated as informed consumers, there wants and needs are convenience, price, and quality. This group of customers are time starved, although price is important, the convenience of their purchase is paramount over any other factors.

Our goal is to satisfy the wants and desires of both groups within the HACC’s Overholt Bookstore. Industry Trends Barnes and Nobles Bookstores Competitors Analysis Office Max (they display their adds on their trucks everytime they deliver to the school, they are capturing the customers!!!! ) Staples Half Price. comCollege Egg Ex. 3 | Office Max| Staples| HACC | | | Calculator 1| $119. 99| $119.

90| $129. 99| | TI-84 Plus Graphing Calculator| Calculator 2| $13. 99| $13. 99| $14. 99| | Sharp EL-W535B Scientific Calculator | Pen 1| $0.

99| $1. 79| $3. 72| | Medium Point Pens (dozen price)| Pen 2| $25. 49| $18. 79| $31. 83| | Uni-ball Vision rollerball pen (per dozen)| Paper 1| $1.

49| $1. 99| $3. 10| | Filer Paper, College Ruled (120 ct)| Binder| $13. 29| $13. 79| $15.

44| | 3 Ring Binders D-Ring Heavy Duty| Printer Paper| $7. 19| $7. 79| $11. 77| | Multipurpose Paper 20#| Pencils| $3. 6| $3.

99| $4. 95| | Pencils 24 pack| USB| $29. 99| $19. 99| $33. 87| | 4 GB USB Flash Drive| Staples| $3.

56| $2. 49| $4. 03| | Staples Swingline 5,000 count| Folder| $2. 39| $2. 89| $4. 99| | 2 Pocket Folders| Marker| $10.

49| $15. 99| $19. 28| | Dry Erase Markers, 12 pack| Notebook| 2. 69| 2. 66| 5. 18| | Composition Notebooks| | | | | | | External Market Environment Analysis Textbook market driven by Publishers not the school.

Price of books and weak buy back program Financial Aid Economy, increase in CC attendence SWOT Analysis Strength – virtual monopoly on campusWeakness – price and visability Opportunity – increase sales and Threat – online and other school supply stores Marketing Plan Objectives The key components of HACC’s Overholt Bookstore marketing plan is matrixed by 4 points. Each point will be independently developed but depend on each other point to provide strenght and coninuality to our marketing plan. Point 1) Increase of foot traffic and visibillity: Increase in foot traffic refers to the fact that majority of the customers view the Bookstore as a destination for the beginning and the end of the semester.The customers habit is to visist the Bookstore to purchase their required textbooks and materials for their classes at the beginning of the semester and to sell back their textbooks at the end of the semester with few to no visits during the semester. As a component of HACC and a service to their customers, the Bookstore must increase their offering to their customers.

During the semester, the Bookstore does not receive enough customers and therefore are not fully servicing the needs of their customers. The Bookstore must attract customers weekly or biweekly, and thus increasing its visibility.Visibitily refers to two points; the physical view and the needs satsifying object. The Overholt building is small and is obsecured by landscape its south side that is facing Cooper. Cooper as the most visibily building on campus has tramendious visibility.

Too often I have heard customers talking in small groups and discussing thier need to visit Staples or Office Max after classes to purchase small basic school supplies. These same customers are mere yards away from their Bookstore but, the Book Store’s visibility is not reconized as a means to their need.Once the Bookstore has increased it’s foot traffic, it’s visibility will increase as well. Ex. 4 ;amp; 5 Point 2) Inplement ebook purchases/eliminate textbooks: Our bold strategy includes phasing the Bookstore out of the Text Book market.

This is the ultimate “Go Green” campaign. In line with DMC’s Mission Statement, this progressive move is ahead of the industry trend. The Collegiate Text Book march is set and established by the publishers. This highly priced and valuable sources are viewed by our customers as over inflated (when purchased) and undervalued (when sold back).In this ever fluctuating supply and demand market with consistant edition changes and revisions, the customer are left helpless.

Publishers demand for a new edition, the professor’s demand for the latest revision, too often a new text book one semester is of no value because a new edition has been released and now becomes manditory to the students. This is often the case even if the difference between the two editions is less than 100 words and a few updated graphs. The customers are left with a negative experience and view of the store that they purchased the textbook from, often this negative view is associated with the Bookstore.The Bookstore must increase its inventory and labor during the beginning fo the semester to handle the increase in customers only to decrease hours and staff afterwards. This sciclical labor and buget fluctuations produce an unhealth labor force. STAT AVERAGE PURCHASE TEXTBOOKS FULL TIME STUDENT $.

AVERAGE BUY BACK $ Our plan is to phase out all text books in 5 years and rely on more etextbooks. The increase in etextbooks (or electronic text books) will save thousands of trees, reduce our ecological footprint and create a healthier ecosystem.The switch to etextbooks will also save our customers money. Average etextbook is 38-70% less in cost than traditional textbooks, this also reduces space hogging storage and display space in the bookstore, and there is no need to sell back. Once the customer purchases the etextbook it is there to save.

They could save all their collegiate etextbooks on a thumb drive! Professors can still be involved with publishing and collaborating with their colleges for published works, new editions will become truely new works instead of mere editing and updating.The tremedious increase of used book purchases and textbook leasing via the internet has shrunken the market on used book purchases in bookstores. Instead of fighting in such a large market for a small share of used book sales, we suggest eliminating this small profit stream and focusing on etextbooks. This forward thinking plan will also satisfy all users; publishers, professors, and our customers. This increase of satisfaction from our customers will acutal change their habits (the toughtest change to make in customers).

STATS, CHARTS, INFO INCREASE OF EBOOK PURCHASES, INCREASE OF ONLINE PURCHASES OF USED BOODS ETC.Point 3) The swtich to etextbooks will rejuvinate another market, ebook readers. Nook, Kindel, and Ipad are the leading companies in this market. This will be further discussed under Overview of the Marketing Strategy section. Apple iPad NookKindle $400 $150$139 Point 4) Increase effort into understanding the Bookstore’s customers: HACC has a diverse student population; recent highschool graduates, returning college students, career changing students, job retraining student, casual students, part time and full time students.The Bookstore must identify and retool its marketing mix to address this diversity.

They are mutlicultural, multinational, multiethnical and multigenerational. This will be explained further in the Oview of the Marketing Strategy and “consumer individuality” section. The overall goal of the 4 point matrix is to increase sales, meet the needs of the customers, and to a greater part of services to the College and its student body. Overview of the Marketing Strategy Etextbooks: Point 2 discussed the positives of eliminating traditional textbooks in 5 years and Point 3 discussed the implementation of using etextbook readers.The three readers all have features that allow users to read text, but the Nook and Kindle are the most economical.

Unfortunately neither the Nook or the Kindle allow page mark ups (highlighting or underlining) or have applications for taking notes, diagrams or viewing powerpoint/presenter slides. Although the Apple iPad has these features (plus access to email, world wide web, word processing and much more) the price tag is unreachable for many students. Mr. Fertal, with his inroads with Apple and close relationship with it’s CEO Mr.Steven Jobs, has negotiated a collegiate purchase program. At an astounding price of $200, Apple will suppy the Bookstore with their iPads with no initial cost to the HACC.

Once the iPad is purchased, the school will make monthly payments to Apple on units sold. The iPads will be preloaded with all the essential software (word processor, spreadsheet program, notetaking, diagram drawing, slide presentor, email and wifi). The customers will also be able to purchase Apple accessories and add ons at the Bookstore with the same payment plan after the sale.Apple will also have several workshops, held on campus at the beginning of the semester for the new users as well as its legendary online and telephone tech support. The success of this pilot program will launch Apples iUnivserity campaign to other college and university book stores.

Honors 10/10: In conjunction with Phi Theat Kappa, PTK, (the largest International two year honor society) the Bookstore will launch its Honors 10/10 program. This program will promote and recognize academic successes and accomplishments. This program will also include students on the Dean’s List.All active PTK and Dean’s Lists members will received 10% required textbooks and 10% off on all Book Store items (excluding Apple products). The Honors 10/10 program will utilize Mr. Patel “consumer individuality” program that focuses on each unique individual as being precious and unique.

Consumers/students are not mass produced robots, they are unique students that should be celebrated as individuals, promoting their hard work. P2P Tutoring: For many students, juggling work, studies, and family responsibilities has left them starving for time.Buget cutbacks have left many tutoring labs understaffed and inexcessable for the juggling students. When these students fall behind in their classes or just can not grasp the concepts, their only resource is the school sponsored tutoring labs. Unfortunately, these labs are too often over stuffed with students and under staffed by tutors.

These students too often wait hours for tutoring help that lasts only a few minutes. Many students are left still confused and now less time. To assist those students that are working hard to achieve their academic dreams, the Book Store will launch their Peer to Peer (P2P) Tutoring.P2P tutors will be recruited from PTK and Dean’s List students. These tutors will be employed by the Bookstore and scheduled on an appointment only basis.

The P2P tutors can provide one-on-one assistance. The P2P tutoring program will reward hard working students of PTK and the Dean’s List with the students that directly need the help (and at the time they need it. ) The hourly fee for these tutors will be $14. 00 per hour; this fee will be split $10 for the tutor and $4 for the bookstore. The Bookstore will handle the fee collection and distribution to the tutors.

The Honors 10/10 and P2P program will be monitored and tracked via current school identification cards P2P will initially start very small (8 tutors) utilizing a small area in the front left reigion of the Bookstore and as the the focus shifts from traditional textbooks to etextbooks, more room will become available for tutoring. We will earmark $2,000. 00 for start up tables and chairs for the study area. HACC Foundations has also donated 8 sets of outside tables, chairs and umbrellas to the P2P Program for warm weather tutoring outside the Bookstore to enhance the learning environment. BeforeAfterEx 6 ;amp; 7 The P2P program will feature Mr. Shepherds “Vocal Branding” program.

This program was developed by Mr. Shepherd for his R ;amp; B clientel. Vocal Branding focuses on the individual student and their needs, rather than having the student conform to pre-established learning objectives. The tutoring program will each be custom taylored to the students needs. Ex 8 ;amp; 9 Strategic Repricing: The last key area of the Bookstore is merchandise selection and pricing. In a comparative shopping list between the Bookstore, Staples and Office Max; the Bookstore is consistently 20% higher on most products.

This ony fuels the prejudice belief that the Bookstore is a second option to the other school supply options. We suggests a new merchandiser manager with an aggressive pricing stucture to be more competitive with other retailers. We are sure that any profit lost due to less mark up of inventory will be recouped and increased once all the programs are in place, thus increasing foot traffic and sales. The Strategic Repricing Program will utilize Mr. Beards “Speed Branding” approach. Each consumer is inundated with hundreds of thousands advertisements a day.

Advertisements must compete with other advertisements to be remembers and eventually wanted. Mr. Beards Speed Branding focuses on seconds to put the product infront of the consumers and make an impression. This program focuses on the needs and wants of the consumers and rapidly provides of these items. These identified items will be revoled weekly to stay current with the students wishes. Differentiation and Positioning THE place for all your collegiate school needs.

.. Take adavantage of being the only bookstore on campusMarket Segmentation ;amp; Target Market Selection Demographics Find all counties, age group, income level for surround areas (database) Geographics Northeastern US, strengths and weakness (database) Psychographics Associates degree return to work, Transfer 4 year, Government retraining program and find job Population of Market Diversity in age, race and national origin (data base) Marketing Mix Product etextbooks ipad,kindle,nook honors 10/10 p2p Price restructure pricing strategy, commodities, necessities, apparel Place Pic of bookstore, promo swarm teamsPromotion Appendix Control and Evaluation P and L, sales, flow and activity based on fiscal dollar volume DMC will perform these task, if chosen for pro bono as alumni.. Appendix Appendix A: Proposed T-Shirts: Appendix B: Honors 10/10 Flyer: mathematical formula sum 10% discount + 10% = I’m smarter than you Appendix C: Tutoring Flyer: Midterms, Finals, Online Appendix D: iPad Flyer: only for those heavy (note) days Appendix E: eBook T-Shirts: Go e (little e) or go green, now more choice (in a start cheesy ad style, new and improve world) Appendix F: Proposed Study