Business Plan For New Super Market
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Business plan for a new super market
Opening a super market requires one to have a good plan that can help him or her to achieve the goals. This is a business plan for a supermarket that will start operating in the near future. The plan will include how the business is expected to be marketed and how product promotion will be done. The plan will also look at the manner in which pricing will be made as well as the marketing strategy that will be used to be able to win many clients.
Marketing strategy-sales and distribution
To market get the products to the premises of the business, the company will have to start by using the services of movers who have been in the industry for long. They know how to handle different goods and their services will be an important of the business as it will ensure that the goods reach the company. Since the supermarket will be inside the university, it will be important that the supplier be people who come from around. Majority of the sales will be made to the students since they are the major target market.
After some time, the company will have to come up with strategies of ensuring that they get better supply strategies. The company will have to buy a van that will be used to supply the products to those who buy the good in bulk. The supply will just follow the general supply chain that is always used by many companies. Making such sales can be a problem if the company does not come up with a long term solutions.
Another important aspect that has to be considered by any company that wishes to start operations is pricing. The prices charged on the goods will determine whether clients will love the company or not. The first strategy that will be used is to look at the retail prices around. In case the company comes up with prices that are way above what the competitors charge their clients, the clients will not be willing to purchase the products from the supermarket. One of the best ways that has been noticed by the management is to come up with a strategy that puts the prices slightly below that of the other retail shops in the region. Clients are always attracted to businesses that charge less than the others in the industry. To achieve this, prices in the supermarket will be slightly lower than that of the other retail shops so that clients can go ahead and buy from the supermarket. The prices will be adjusted once the clients have known the supermarket and are already used to purchasing from it.
Advertising and promotion
Advertisement and promotion form a major part of making the business famous. The only way that the supermarket will be able to get clients is when advertisements are done. The promotion will not only be done on the products but also in the region around the university. For the students in the university, it will be easy because posters will be put in the university to inform them of the opening of the supermarket. Since there is no such business within the university premises, it is likely that majority of them will love the idea and will be willing to buy goods from the university. For the others, the supermarket management will organize a caravan that will aim at informing the public of the opening of a supermarket with better prices for them. Reduced prices will be a good marketing tool since it has already been discussed as marketing tool that will attract many clients.
Once the supermarket has carried promotion and many clients already know about the goods and their prices, it will also be important to come up with a harvest strategy. The harvest strategy will help the company to get more clients and also increase the money that they make from the whole process.
Continuity of business strategy
It is expected that during the first days, clients will flock the supermarket and after some days they might reduce in number. It will be important to come up with a strategy that the clients are retained and that the income keeps going up. The first way that will be used to retain the clients is by coming up with after-sales services that will make the clients eager to shop in the supermarket. Once the supermarket becomes stable, they will start by offering free transportation to the clients. This is a step that is likely to increase the number of clients who visit the supermarket to do their shopping. Most people love places where they are always sure to get other services apart from what they have paid for. Another way that will be used by the supermarket to retain the clients is by coming up with smart cards that give the clients points any time they shop in the supermarket. Every client will be interested to shop in the supermarket so that they get enough points to be able to redeem so that they get free gifts. The supermarket will come up with a way of including the prices of the gifts in the prices of other commodities so that no losses are incurred in the process.
The supermarket also has plans of coming up with other branches in future. The branches will be managed from the head office. The supermarket will also franchise in future. Once the name of the supermarket becomes very popular, they will allow other upcoming supermarkets to use the name. This will not only make it famous in other regions but will also increase the number of clients. To continue the business well, another long term goal of supermarket is to come up with a strategy of diversifying the products and services that they offer to their clients. It is the only way that the company will survive even when the other businesses that it runs go down.
The success of the business will also require that an identity be made. The name of the company will play a huge role in making the company to be very famous. The name of the company is one of the things that any person that needs to start a business must put into consideration. The success of the business has always determined the extent to which people will get familiar with the business. The name of the supermarket should be something that people can relate with in daily life. Apart from franchising, the supermarket will also have to use its identity to get into other sectors. The best way that companies have been able to ensure that they remain successful is by ensuring that they use their names to do other businesses.
The success of the supermarket will also depend on the things that will happen between the time it is opened and when business will start picking up. The best businesses are those that maintain the same standards that they started with. The supermarket will continue to come up with other things that can bring profit to the company. These will include service provisions that can bring more profit to the company. Enlargement of the company is something that will lead to better days ahead for the supermarket.
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