Interior Views sells accessories and home decorator fabric. It has been in business for five years. This destination store provides fabrics designed specifically for home decorators. With over 900 fabrics on display, and more than 10,000 sample fabric fabrics available for custom cutting, the store offers a wide selection of fabrics. As they make their purchase decision, customers can touch, feel and even take the fabric home.
Interior Views has gained a lot of knowledge from the years that it has been in business. The market has changed over the years and Interior Views will need to make key decisions regarding the future 5-year lease. It is time to take a step back and look at the past in order to establish a strategy for the future. This is the main purpose of the business plan. It will address issues related to location, finance and product. These are key factors in the company’s future success.
Interior Views has a local informational website, but it hasn’t been given the attention and focus that is needed to evaluate its marketing potential. Although the site provides information content, it is not able to generate revenue or improve the business’ image.
Market research indicates a specific and growing need in and beyond the local area for the products and services Interior Views offers in the local retail market it serves and there are indications that Web sales will play an increasing role in connecting customers with sellers. The most significant challenge is that the core target customer, women between the ages of 35 and 50, are some of the least likely of groups to shop on the Web. The shopping experience for decorator fabrics presents another challenge.
Interior Views’ online marketing goal is to support its continued growth, profitability and sustainability through the effective implementation of this strategy. The online sales and marketing strategy will focus on reaching additional customers through the internet using an eBay website. This will allow the company to generate more revenue and attention. The Web target audiences will include the most Web-savvy young customers currently served by the store (women between 35 and 25 years old) or potential customers out of area who are already shopping online to purchase Interior Views products. eBay’s website will emphasize its selection, competitive prices, and customer support to stand out among other Internet options.
1.1 Objectives
- A healthy gross margin is essential for each month.
- Each month, generate sales every business day.
- This year, achieve a moderate annual growth rate.
- Increase revenue through eBay-based sales up to $5700 per month at the end the first year with a 5% growth rate thereafter.
- To provide customers with additional information, it is important to improve “information channels” to increase their customer base.
- Through eBay/Web accessibility, you can meet the needs customers beyond the immediate service area.
1.2 Mission
Interior Views LLC offers a wide range of decorative fabrics and accessories for your home. The store is all about celebrating the home through the texture and color of fabric. The experience helps people to create a unique expression of their home. Interior Views aims to encourage people and to help them realize their vision.
1.3 Keys of Success
The following factors will determine the success of your company:
- Sell products of the highest quality with excellent customer support
- Continue to communicate with your customer base by using the newsletter, postcards and our website.
- Maintain gross margins greater than 45%
- Retain customers for repeat business and referrals.
- Additional sales can be generated to pay all expenses associated with the website.