Academic Field

Communication, Publishing, and Business

Faculty Mentor Name

Amy Valente

Presentation Type

Oral Presentation

Abstract

The Friends of Hospice Thrift Shop is preparing to launch an expansion of their business by obtaining more square footage at their current location to develop a “boutique” atmosphere, with the goal of attracting more customers. Although the rental cost is quoted as being greater than the current cost of renting the space presently in use, it is hoped that the additional space will pay for itself by bringing in greater revenue. Furthermore, a trial-based reduced rate will be proposed in order to determine the success level of this expansion project, and whether profits will cover expenses to justify a permanent increase in the shop’s dimensions. It is believed that this growth will prove worthwhile because more people are frequenting thrift shops seeking low cost options due the status of the economy. At the Hospice Thrift Store, customers can find inexpensive, quality goods. This is especially appealing to low income clients, like senior citizens, who quantitatively comprise the majority of the current target market. The up-and-coming new generation of teenagers and twenty-something’s is another market worthy of targeting because of the products they seek. The new boutique can be marketed to this new demographic, who seek the new trend of vintage style. The shop relies on some newspaper advertising as well as word-of-mouth from loyal, satisfied customers. The ‘Heart in a Shopping Cart’ logo inspires everyone to feel welcome in the shop’s atmosphere and feel good about their purchase, knowing the funds go to a good cause. The primary marketing objective is to achieve steady profit growth over the course of the sixth month trial period. Upon presenting this marketing plan in May 2014, concepts have been implemented over the long term. Key words: The Friends of Hospice Thrift Shop, Marketing Plan, retail, marketing objective, consignment shop, advertising, boutique.

Keywords

The Friends of Hospice Thrift Shop Marketing Plan The Friends of Hospice Thrift Shop is preparing to launch an expansion on their business by obtaining more square footage at their current location, in order to develop a “boutique” atmosphere, with the goal of attracting more customers. Although the rental cost is quoted as being greater than the current cost of renting the space presently in use, it is hoped that the additional space will pay for itself by bringing in greater revenue. Furthermore, a trial-based reduced rate will be proposed in order to determine the success level of this expansion project, and whether profits will cover expenses to justify a permanent increase in the Shop’s dimensions. It is believed that this growth will prove worthwhile because more people are seeking low cost options due the status of the economy. At the Hospice Thrift Store, customers can find inexpensive, quality goods. This is especially appealing to low income clients, like senior citizens, who quantitatively comprise the majority of the current target market. The up-and-coming new generation of teenagers and twenty-something’s is another market worthy of targeting because of the products they seek. The new boutique can be marketed to this new demographic, who seek the new trend of vintage style. The Shop relies on some newspaper advertising as well as word-of-mouth from loyal, satisfied customers. The ‘Heart in a Shopping Cart’ logo inspires everyone to feel welcome in the Shop’s atmosphere and feel good about their purchase, knowing the funds go to a good cause. The primary marketing objective is to achieve steady profit growth over the course of the sixth month trial period. Upon presenting this marketing plan in May 2014, concepts have been implemented over the long term. Key words: The Friends of Hospice Thrift Shop, Marketing Plan, retail, marketing objective, consignment shop, advertising, boutique.

Start Date

10-4-2015 9:30 AM

End Date

10-4-2015 11:00 AM

Location

Liberal Arts Bldg 206B

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Apr 10th, 9:30 AM Apr 10th, 11:00 AM

The Friends of Hospice Thrift Store Marketing Plan

Liberal Arts Bldg 206B

The Friends of Hospice Thrift Shop is preparing to launch an expansion of their business by obtaining more square footage at their current location to develop a “boutique” atmosphere, with the goal of attracting more customers. Although the rental cost is quoted as being greater than the current cost of renting the space presently in use, it is hoped that the additional space will pay for itself by bringing in greater revenue. Furthermore, a trial-based reduced rate will be proposed in order to determine the success level of this expansion project, and whether profits will cover expenses to justify a permanent increase in the shop’s dimensions. It is believed that this growth will prove worthwhile because more people are frequenting thrift shops seeking low cost options due the status of the economy. At the Hospice Thrift Store, customers can find inexpensive, quality goods. This is especially appealing to low income clients, like senior citizens, who quantitatively comprise the majority of the current target market. The up-and-coming new generation of teenagers and twenty-something’s is another market worthy of targeting because of the products they seek. The new boutique can be marketed to this new demographic, who seek the new trend of vintage style. The shop relies on some newspaper advertising as well as word-of-mouth from loyal, satisfied customers. The ‘Heart in a Shopping Cart’ logo inspires everyone to feel welcome in the shop’s atmosphere and feel good about their purchase, knowing the funds go to a good cause. The primary marketing objective is to achieve steady profit growth over the course of the sixth month trial period. Upon presenting this marketing plan in May 2014, concepts have been implemented over the long term. Key words: The Friends of Hospice Thrift Shop, Marketing Plan, retail, marketing objective, consignment shop, advertising, boutique.