Feasibility Study Template
facility from which to store and ship its products. Such a facility would require a significant capital investment as well as increased operation and maintenance costs. However, based on anticipated growth projections, ABC must ensure that all store locations maintain adequate inventories on hand to satisfy customer demand.
5. Marketing Strategy
This section provides a high level description of how the organization will market its product or service. Some topics which should be included are: how does an organization differentiate itself from its competitors; types of marketing the organization will utilize; and who the organization will target. Marketing efforts must be focused on the right target groups in order to yield the greatest return on investment.
In order to be successful, ABC must differentiate itself from competitors in order to appeal to customers in the online marketplace. To do this, ABC will utilize its practice of personalizing its product packaging which it currently offers in-store customers. Current competitors do not currently provide any personalization of packaging. Customers will have the ability to personalize messages on or inside of product packaging, request specific color-based themes, or tailor packaging for special occasions or events.
ABC will implement a customer e mailing list in order to send product promotions, sales advertisements, and other special offerings to customers who register. Additionally, ABC will offer referral incentives to customers who refer our products to friends and family in order to provide additional incentives. ABC will also maintain a customer database in order to determine its target customer groups and geographical regions. ABC will research marketing intelligence providers to determine the benefits and costs of purchasing customer information for bulk email campaigns as well. Another important consideration of ABC’s online marketing strategy is cost. Electronic marketing communication costs are very small in comparison to direct mail marketing which ABC currently utilizes. However, we expect the additional revenue from online sales to greatly outweigh these additional electronic marketing costs.
It is important to note that ABC’s current marketing and sales staff will require training in online marketing and sales practices. This training will need to be contracted to a training provider as part of our startup costs and schedule.
6. Organization and Staffing
With many new products or services there may be a need for additional staffing or for an organization to restructure in order to accommodate the change. These are important considerations as they may result in increased costs or require an organization to change its practices and processes.
The ABC online sales campaign is not anticipated to significantly affect the organizational structure of the company. There are, however, several staffing additions required to successfully implement the online sales campaign. All of these positions will work within existing departments and report to department managers.