Point of View Marketing Assignment by Susan Raber Example of a Marketing Plan for a niche independent bookstore

1. Marketing
Plan
The Writerly
Bookstore Susan Raber
MRK 2100.502 Foundations of Marketing
February 2024
Writer y
Bookstore

2. 03
07
Mission & Values
Branding
04
08
Current Market Analysis
SWOT Analysis
05
09
06
10
Marketing Strategy
Marketing Channels
Marketing Mix
Budget
11
Action Plan

3. Mission & Values
The Marketing Plan starts with the mission statement that
communicates the company’s main purpose, and serves as an
essential point of reference for all marketing efforts.
A values statement is often included as these expand on the
company’s priorities and core principles.
The Writerly Bookstore Sample Mission Statement
The Writerly Bookstore dedicates its resources and services to authors, aspiring writers, and book reviewers
so they can continue to provide the world with stories that inspire, educate, and entertain.
The Writerly Bookstore Values Statement
We believe the world needs more stories that inspire, educate, and entertain. Through our commitment to
providing quality books, we can encourage free speech and positive change. Through our community and
industry partnerships, we equip writers to explore new ideas, produce quality work, share their insights, and
change the world through creative storytelling.

4. Current Market
Analysis
A market analysis includes information about pertinent
industry, consumer, and resource metrics that allow a
company to focus their marketing efforts and pivot to
overcome challenges. It also serves as the basis for the
SWOT analysis..
A market analysis of the retail bookselling industry would include information such as:
How the book market has been affected by ebooks, audiobooks, and podcasting
The status of in-person shopping and the immediate availability offered by digital devices
The impact of economic downturns on discretionary spending, such as a shift from new books to used
books and libraries
How major players in the publishing industry, such as Penguin Random House, Hachette, HarperCollins,
Simon & Schuster, Macmillan, as well as small imprints and independents impact sales of new books
Which genres account for the largest market share of new book sales
The ability to market books via social media channels such as Instagram, YouTube, GoodReads,
LibraryThing, TikTok, and Litsy
Futurecasting of innovations that impact publishing and booksellers

5. Marketing Strategy
The Marketing Strategy must identify these three elements:
The target market is the
consumer or audience to
which the business aims its
marketing messages and
resources. The plan must
take into account the
culture, demographics,
education, and economic
status of its audience.
The marketing mix is the
framework of product,
price, placement, and
promotion that helps the
business differentiate itself
from its competitors.
The goal of differentiation is to create
a sustainable competitive advantage
with unique and desirable products
and services that are not easily
relicated and are sustainable over a
long period of time.
Target Market Marketing Mix Sustainable Competitive
Advantage

6. Marketing Mix
Identifying the marketing mix creates the foundation of the
marketing plan and allows the business to optimize its
message and resources.
Products
New, used, and collectible
books
Large section of books
about writing, editing,
publishing, and literary
criticism
Author Events
Writer Events
Editing Services
Price Place Marketing
The following is an example of the Marketing Mix for The Writerly Bookstore,
a niche market independent bookstore targeting book critics, authors, and
aspiring writers.
20% discount on all hard
covers and trade paperbacks
Loyalty program
Online shop w/ free shipping in
the U.S. on orders over $30
All clearance items priced at $2
Events are free to attend
Editing service offers
introductory price point to
aspiring writers
Located near a university
with a highly rated MFA
program
Easy-to-use website with
online shop; international
shipping offered
Highly trained staff with
publishing industry
expertise
Stellar customer service
Efficient and secure
fulfillment system
Collaboration with
university writer’s program
Collaboration with local
paper recycling center

7. Branding
Branding uses the company’s mission and values, target audience,
and marketing mix to craft a unique identity that is memorable. The
most common elements of branding are the logo and slogan.
The Writerly Bookstore logo is
simple and classic, with a
fountain pen motif to
communicate a serious and
purposeful attitude toward
books and writing.
Writer y
Bookstore
Stories start here.
The store slogan, “Stories start
Here”, is also simple and direct
expression of the store’s
mission and values.

8. Strengths
High traffic location
next to a university with
a highly rated creative
writing program
Services, resources,
and events that draw
writers and the public.
Readers want to
interact with writers and
follow them to our
store.
Weaknesses
Competition from online
discount booksellers
Operational costs for
free events impacts
profits
Target audience is a
small niche market
No connection to e-
book market
Opportunities
Expand partnership with
university to increase
foot traffic and local
awareness
Promote presence of
authors and writers to
draw dedicated readers
and tourist traffic
Host NaNoWriMo
events in November
Threats
Economic downturns
impact discretionary
spending
Discount and used
bookstores create
pressure to reduce
prices
Different reading
experiences of physical
vs. digital books
SWOT
Analysis
A SWOT (Strengths, Weaknesses, Opportunities, and Threats)
Analysis helps businesses assess the internal and external factors
that impact their success.

9. Marketing
Channels
By focusing on the places where a company’s target audience interacts, you
can focus on the needs and wants of the different market segments, as well as
the messaging that will appeal to diverse consumers.
INSTAGRAM
A segment of Instagram that
celebrates books is referred to a
“Bookstagram.” Relevant segments
on this platform: young female
readers and aspiring writers,
established authors who like to
interact with their readers.
YOUTUBE
YouTube is a popular platform for
readers and reviews to share their
opinions and analysis of books.
They refere to themselves as
“BookTubers.”
LIBRARYTHING
This site is where readers, authors,
publishers and libraries store and
share their book catalogs, as well as
hosting many online books clubs.

10. Event hosting
36%
Promotional Materials
26%
Website
20%
Digital Marketing
12%
Travel
6%
Budget
Analyzing the marketing budget can reveal
where spending should be adjusted to invest
more in methods that result in the highest
returns.
Event hosting is the highest marketing expense, but
brings in the most foot traffic, including tourism dollars
for events featuring popular authors.
Promotional materials expenditures are too high
compared to what is spent on digital marketing and the
website.
Consider adding sponsorships for university students
who want a full-time career in publishing, literary
criticism, or creative writing.
01
02
03
INSIGHTS

11. Action Plan The action plan is where all the elements come together. By
reviewing the information compiled for the marketing plan, a
business can reinforce what is working, rework what isn’t, and add
in what’s missing.
Leverage University Partnership:
Increase collaboration with university to offer exclusive events, workshops, and book signings to strengthen the attraction of both aspiring writers and avid readers
from the community and beyond.
Offer deeper discounts to students and faculty members, and a branded sponsorship for students.
Curate Diverse Collections:
Focus on stocking more diverse collection of books that cater to minority group writers, authors, and book reviewers .
Ask for recommendations from the university's creative writing faculty and students for featured collections to assist with updating inventory.
Expand Author Events and Book Clubs:
Step up efforts to host regular author events, book signings, and readings to showcase both established and emerging writers.
Add book talks featuring critics and reviewers; record and post to YouTube channel as cross-promotion.
Improve the In-Store Shopping Experience:
Create a few cozy seating areas and dedicated writing spaces.
Improve training for staff so they can offer personalized recommendations.
Add a bar for coffee and snacks to encourage customers to spend more time in the store.
Increase Digital Marketing Efforts:
Develop a stronger online presence through website, email newsletters, and social media. Use these channels to promote upcoming events, highlight featured books,
and engage with the reading community, both local and regional.
Explore more partnerships with local bloggers, book influencers, and writing organizations to expand the store's reach and attract new customers.
Address Ebook Market:
Partner with an ebook platform to provide digital options for customers who prefer ebooks.