Tuesday, April 19, 2011

The Cost Behind the Treat

Projected Financials

Although Sugar Berry is a fairly new company with limited capital, we feel that our suggestions are relatively inexpensive and are necessary for the company to spread the word of what Sugar Berry has to offer the Greater Lansing Area.   The use of Facebook and other social media are fantastic marketing tools, and free vehicles of communication between businesses and consumers.  As mentioned above, the shop uses its FB fan page as a way to advertise its new flavors and special deals to its customers.  As a complement to the Facebook page we feel that a store website is absolutely crucial to extend to those Internet users who aren’t users of FB and other social media sites.   The only expense attached to operating the site is an annual fee of $30 for the domain name.
                 Flyers and brochures are both a useful and cost effective means of creating awareness, and are a great promotional tool to communicate special deals and discounts to new and loyal customers.  The local Fed-ex store of off Michigan Avenue and Harrison has very reasonable rates for printing flyers in bulk.  By spending $35 every month, Sugar Berry has the potential to introduce it self to 300-500 potential customers per month.  Flyers would be very effective in the summer months as people flock to ice cream parlor for a refreshing treat.
                 The only other aspects of our proposed marketing plan that would require funding are the print advertisements in the State News, the LSJ, the Campus Special coupon book, and radio advertisements.  Print advertisements in newspapers can be rather expensive, so perhaps this part of our plan can only be implemented when the company becomes established and has the money to do so.  In order to get the best results and ROI from the ads, we feel that  running the ads solely during the spring and summer would yield the biggest response since this is the ideal time for frozen treats.
     The great thing about being in the capital of Michigan and near several college campuses is that there are so many venues to reach out to numerous people for such a low cost.  Most businesses are more than happy to team up and get the word out about what both companies have to offer.  There are also many events that Sugar Berry could eventually sponsor or be a part of, such as Sparty's Spring Party and Relay for Life.  

No comments:

Post a Comment