2. 1. Executive Summary
Forbes Experiential Marketing and Models’ (FEMM) marketing strategy is
outlined in the following plan. FEMM is an experiential marketing company who
supplies models and brand ambassadors to companies looking for brand
exposure. FEMM is currently located in the greater Toronto area and will be
growing into other cities across Ontario.
FEMM will use highly trained staff to retain and gain new clients. By hosting
engaging events FEMM will prove their differentiation amongst the other
experiential companies in the local industry. FEMM will be offering the best
customer service while keeping the price point lower giving FEMM a lead in the
industry.
2. Company Description
Forbes Experiential Marketing and Models (FEMM) is an experiential marketing
company owned by Courtney Forbes. We create unforgettable moments by
bringing your brand to life through sampling, special events, and promotions in
retail, bar, and other environments. We have a team of both male and female
promotional models who deliver an impression and communicate clear messages
about your brand creating a more effective medium. This will allow customers to
engage and better connect with your brand.
3. 3. Strategic Plan
Vision
Our vision is to be Toronto's leading provider of excellent experiential marketing
solutions.
Mission
It is our goal to provide and create unforgettable moments using fresh ideas
while using efficient service adding measurable value. Our client's goals are our
goals and together we will reach our desired results.
Goals
Our goal is to engage consumers with enjoyable and memorable brand
experiences by creating and delivering innovative ideas which we will execute
with perfection every time. Getting your product into the hands of your target
market, the people who matter, is our top priority.
Core Competency
We have a team of the best promotional models that are excited to achieve
success for your brand and put your product in the spotlight. These experienced
brand ambassadors offer a deeper engagement with your consumers giving them
a reason to believe in your product and/or brand at the moment of truth.
4. Strengths
- Wide knowledge in experiential marketing
can provide customers with broad experience
and talent to execute programs
- FEMM is able to give customers a more
personal approach, which can create lasting
relationships
- Low overhead costs
- Lower employee turnover by keeping
employees happy with bonuses based on new
customer leads
- Experienced and dependable employees to
give better customer service and lower costs
on training
Weakness
- As a start up company FEMM does not have
funding to run marketing campaigns
The size of the company is a weakness because
larger companies can commit to larger events
where numerous brand ambassadors and/or
models are needed
- The success of FEMM depends on wide
awareness
Opportunities
- the city of Toronto is giving grants for special
events which increases the number of events
and the need staffing
- economic momentum is running high in
Toronto
- the population of Toronto has grown from 2.6
million in 2011 to 2.79 million in 2013; growing
population means growing attendees at events
opportunity to partner with other experiential
marketers when they are in need of more
staffing
- opportunity to partner with event planners
and other event services companies to expend
our markets together
Threats
-Many similar companies who offer the same
services
-More events take place in the summer so the
seasonal nature of the business will affect the
ability to earn revenue in the winter months
5. Market Segmentation and Positioning
FEMM targets companies looking to achieve brand awareness through live events
and demonstrations using high quality brand ambassadors and promotional
models. FEMM will provide this by offering excellent customer service through
extensive training and recruiting of the employees who will be conducting these
events. FEMM will also offer customers creative, innovative, and exciting new
ideas to replace outdated traditional advertising, which will improve their ROI.
6. 5. Marketing Program
Pricing
FEMM will offer a slightly lower price than competing companies. The goal is to be
competitive on price while offering the better service. This will give FEMM a lead
in the industry ensuring repeat business and referrals.
Promotional Strategy
FEMM will train staff on networking skills and strategies using word of mouth to promote
and provide more contacts and accounts.
FEMM will host events around the GTA and invite local business owners and event
management personnel. FEMM’s staff will use their expertise to impress the guests and
encourage them to use FEMM for their upcoming events.
FEMM will use social media outlets, such as Facebook, Twitter, and Instagram by posting
photos and writing live feeds about FEMM and about the events they are hosting. FEMM’s
contact information will be including in the posts giving a call to action.
FEMM will contact SNAP Newspaper Group before hosting events. SNAP takes photos of
local events for their newspaper that is distributed in those cities free of charge. This will
help FEMM will reach their target markets and give them brand exposure at no cost to
them.
Distribution Strategy
FEMM will put emphasis on training staff to provide excellent customer service. Accounts
will be gained through relationship building.
FEMM will start in the greater Toronto area and once FEMM builds a name and customer
base FEMM will start positioning themselves in other cities across Ontario.
