Business Expansion Plan
Situational Analysis:
J&J Trades is entering its third year of operations and its business is steadily expanding via word of mouth and referrals from within the community. However, in order to enter the next phase of expansion and growth, extensive marketing will be crucial to develop a strong and distinctive brand as well as create exposure and awareness. J&J Trades offers a variety of one-of-a-kind accessories as well as custom made designs and costumes.
Market Summary:
J&J has researched its niche target market and the viability of its product line. It is clear that there is ample demand for their products and room for expanding their line and offering more variety and choices to their customers. The popularity for costume clothing inspired by yesteryears is not a passing fad but a trend that influences mainstream fashion. Costume pieces can be incorporated into everyday wear and thus increase the usage and therefore the demand for their products. The challenge is to create awareness and to reach a wider audience that may be persuaded to purchase their products. By creating partnerships and collaborative efforts with others who sell similar or tangent items, J&J Trades can expand its reach and gain new customers.
Target Markets:
• Collectors • ComicCon enthusiasts • Renaissance Fair patrons • Seasonal customers (Halloween) • Theater
Market Demographics:
Typical J&J Trades customers generally fit the following profile:
• Geographic:
o Customers generally come from within the general Los Angeles area although they have also had customers from outside the area. By taking advantage of the wide reach of the Internet and delivery services, J&J Trades has been able to serve customers from Northern California and across the U.S. o A higher percentage of customers are male. o No data has been collected regarding
J&J Trades is entering its third year of operations and its business is steadily expanding via word of mouth and referrals from within the community. However, in order to enter the next phase of expansion and growth, extensive marketing will be crucial to develop a strong and distinctive brand as well as create exposure and awareness. J&J Trades offers a variety of one-of-a-kind accessories as well as custom made designs and costumes.
Market Summary:
J&J has researched its niche target market and the viability of its product line. It is clear that there is ample demand for their products and room for expanding their line and offering more variety and choices to their customers. The popularity for costume clothing inspired by yesteryears is not a passing fad but a trend that influences mainstream fashion. Costume pieces can be incorporated into everyday wear and thus increase the usage and therefore the demand for their products. The challenge is to create awareness and to reach a wider audience that may be persuaded to purchase their products. By creating partnerships and collaborative efforts with others who sell similar or tangent items, J&J Trades can expand its reach and gain new customers.
Target Markets:
• Collectors • ComicCon enthusiasts • Renaissance Fair patrons • Seasonal customers (Halloween) • Theater
Market Demographics:
Typical J&J Trades customers generally fit the following profile:
• Geographic:
o Customers generally come from within the general Los Angeles area although they have also had customers from outside the area. By taking advantage of the wide reach of the Internet and delivery services, J&J Trades has been able to serve customers from Northern California and across the U.S. o A higher percentage of customers are male. o No data has been collected regarding