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12-MM522_Marketing_Plan_-_Exemplary_Marketing_Plan_1

12-MM522_Marketing_Plan_-_Exemplary_Marketing_Plan_1 - HO...

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HO Craftsman Rolling-stock Marketing Plan Keller Graduate School of Management – Online MM522 John Superb Student July 2007 Final Draft
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Executive Summary HO Craftsman Rolling stock is an Internet based company that will develop, manufacture, and distribute kits of model railroad rolling-stock whose prime component is scale wood. The company mission statement is: HO Craftsman Rolling-stock will supply top quality, wooden, craftsman level kits of HO scale rolling-stock that appeals to the existing model railroad craftsman, and which will be uniquely appealing to first time crafters. HO Craftsman Rolling-stock will offer unparalleled support to their customers and will improve and develop their offerings based primarily on customer input. HO Craftsman Rolling-stock will supply top quality, wooden, craftsman level kits of HO scale rolling-stock. These wooden kits will be considered craftsman level because of the tools, skill-set, and time involved. Significant effort will be expended to reduce the intimidation level of this kind of kit. This will be the only offering of its type, although kits like these were available until 10 years ago. It is believed that poor marketing was the primary reason for the disappearance of those kits. HO Craftsman Rolling-stock believes that leveraging the strength of the Internet, a well targeted advertising campaign, and development of comprehensive customer assistance will allow these types of kits to become popular again. There is considerable market inertia to be overcome. The mantra of the past 20 years has been fast, cheap, and easy when it comes to model railroad rolling-stock. By emphasizing quality, realism, and pride of ownership in its messaging, HO Craftsman Rolling-stock expects to overcome those entry barriers into this market. The model railroad market is currently estimated at 500,000 participants who spend approximately $550,000,000.00 per year on their hobby. The market trend is that the participants are getting older and their numbers are shrinking at the rate of 2% per year. With the average model railroader approaching retirement, it is believed that the active participants will have even more time to spend engaging in their hobby. There is also a significant portion of the market that is considered inactive. This is defined to mean that they do not have, or have access to, a working model railroad layout.
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One of HO Craftsman Rolling-stock’s prime goals will be to entice this portion of the market to become a bit more active by building a display quality rolling-stock kit. Because there are no direct competitors for the products that HO Craftsman Rolling stock will bring to market, it is highly unlikely that there will be any short-term reaction from the existing model railroad companies HO Craftsman Rolling stock will distribute its products primarily through direct means.
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