Keep in mind that my project is opeing a daycare center in all Target Stores, No
ID: 394425 • Letter: K
Question
Keep in mind that my project is opeing a daycare center in all Target Stores, Now anwser the following questions
keep in mind this is for a marketing project
Now address the additional topics below to complete your marketing plan. Again, reference our example and the identified text chapters for additional context. Segmentation approach and rationale e.g., Demographic, geodemographic, behavioral, psychographic, etc. Target market(s) description Positioning statement Marketing mix details Address each "P" (product, place, price, promotion) of the marketing mix separately and explain your choices. This is the heart of your plan. Success metrics Discuss at least 3 metrics you might analyze to evaluate the success of your plan. International considerations Identify at least 3 business or sociocultural considerations in translating your marketing plan for use in a foreign market. Conclusion Summarize your plan and why it deserves to be funded.
Explanation / Answer
A daycare facility in a departmental store is a value adding feature where the kids are taken care for the duration their parents shop at the store. In this way, while the kids don't get irritated when they don't find the things appealing to them. , the parents may also shop for their stuff in peace, while the children enjoy their time, engaged in the activity of their interest. This is particularly true when the parents are there to shop for the month's grocery or they have many items to buy and look for.
The most appropriate segmentation approach is demograhic, as the target group for this facility are young couples or families who have young children below 10 years of age. The typical target market are the middle class families who don't have a governess or other person to look after the children back home, and are compelled to take them to shopping. A daycare ensures that they are look after well, are safe under supervision and engaged in productive activites and don't pester their parents while they are busy shopping.
The product is convenient, safe and engaging place for the kids to be engaged during their parents' shopping activity. It can be made more attractive by including interactive games, music, learning activities, eatables etc. with active attendants keeping them happy, engaged and content. Being a value added service, the facility can be provided to the customers for free. The cost of daycare may be compensated with increase in the footfall of customers with children. The facility can be promoted primarily in the neighbourhood of the location of store through traditional methods of advertisement in local dailies and radio /TV. Other means of reaching out to the customers are through concentrated social media campaigns and emails to the residents of the target area. Interactive promotions through facebook and youtube inviting parents with children might also work. Introductory schemes offering attractive gifts for children during first week of operation may also be announced.
Success of plan can be measured primarily through three factors viz. increase in footfalls, particularly of customers with children, increase in sales vs. expenses incurred in running the daycare, and return on investment ( time to recover the cost of daycare).
If the plan is to be implemented internationally, the main considerations are structures of society and family types, proportion of families among shoppers at an outlet, average ticket size of a purchase, demograhic conditions of society that affect shopping process etc.
The daycare at a departmental store is a novel idea, which may influence the parents to bring their children to the store when they go shopping. By tastefully designing the daycare and including attractive features, It can serve as an excursion to the child and enhance the shopping experience of the parents. The daycare facility may act as a differentiator for the Target and give it an edge over other stores who don't have such facility and help in attracting more customers who may end up purchasing more, adding to the sales and profitability of the store. With more and more family shoppers coming to Target, the demand for daycare facility is going to rise in future. Being an in- house facility having little inital investment and very little risk of failure, it is a welcome initiative . These characterstics make it an appropriate business for investment, which has high and quick return on investment, in terms of increased sales and improved customer experience.
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