Astroguard- final report - AstroGuard Stronger safer...

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AstroGuard Stronger, safer protection 1 Contents Executive Summary ......................................................................................................................... 3 The Challenge ................................................................................................................................. 4 Company Analysis .......................................................................................................................... 5 SWOT Analysis of AstroGuard ...................................................................................................... 6 Market Research ........................................................................................................................... 11 Marketing Strategy ........................................................................................................................ 15 Timeline ........................................................................................................................................ 18 Phase I- Power Through! ........................................................................................................... 20 Home Depot .................................................................................................................................. 21 Designs .......................................................................................................................................... 27 Internet .......................................................................................................................................... 28 Word of mouth advertising ........................................................................................................... 37 Billboards ...................................................................................................................................... 40 Newspapers .................................................................................................................................. 41 Magazines ..................................................................................................................................... 42 Designs .......................................................................................................................................... 43 Phase II-Buzz Time! ................................................................................................................... 44 Internet Advertising ...................................................................................................................... 45 Newspaper and Magazine ............................................................................................................. 45 Designs .......................................................................................................................................... 46 Phase III- Know and Protect! .................................................................................................... 48 Newspaper and Magazines ........................................................................................................... 49 Fairs ............................................................................................................................................... 49 Postcards for insurance renewals .................................................................................................. 56 Financial Analysis .......................................................................................................................... 58 Appendix ....................................................................................................................................... 60
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AstroGuard Stronger, safer protection 2 Appendix A- Survey and results ................................................................................................... 61 Appendix B- Selling AstroGard .................................................................................................... 63 Appendix C- Contact information ................................................................................................ 65 Appendix D- Palm Beach neighborhoods ..................................................................................... 67 Appendix E-Rate Cards ................................................................................................................ 68 Appendix F-Works cited ............................................................................................................... 70 Appendix G-Emails exchanged .................................................................................................... 72
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AstroGuard Stronger, safer protection 3 Executive Summary The Associates are consultants to HurricaneFabric.com which manufactures AstroGuard a novel hurricane fabric material for homes. The Associates will help HurricaneFabric.com promote their newest product AstroGuard and help achieve 55.54% increase in sales in the test period of 2010-2011 in West Palm Beach, Florida to a target of 19,166 home owners. This growth of $2,904,412.15 will be achieved through: Direct Marketing at Home Depot through mailers to home owners Advertising on the internet in order to increase sales through and Effective word of mouth marketing Increasing customer awareness through billboards, newspapers, magazines, fairs and postcard mailers The Associates have conducted questionnaire surveys and developed a measurable, realistic and cost-effective program to achieve the above growth figure. We divided our marketing strategy into three Phases: Phase I- „Power through!‟ to be implemented from 15 May 2010 to 15 July 2010 where the focus will be to generate a need for hurricane protection to face the most active hurricane season. Phase II- „Buzz time!‟ to be implemented from 15 July 2010 to 31 December 2010 will focus on generating awareness about AstroGuard. Phase III- “Know and protect‟ to be implemented from 1 January 2011 to 31 March 2011 will focus on the impact and need of AstroGuard in providing home insurance. Each segment will generate the following revenues vis-a-vis the cost Strategy Revenues Cost Home Depot $1,857,389.17 $17,823 Internet $569,200.1 $55,000 Word of mouth $410,565.28 $12,177.16 Billboards, Newspapers, Magazine, Fairs and Postcards $67,257.60 $42,576.8 Through the various phases, AstroGuard has the potential to increase revenues to $2,904,412.15 in 2010-2011. The above marketing model can be implemented in various other cities throughout the state of Florida and other hurricane affected states. This model allows for growth in revenues as the budget for marketing increases. Anticipated revenues are $2,904,412.15 for an investment of $127, 576.96
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AstroGuard Stronger, safer protection 4 The Challenge The product that HurricaneFabric.com manufactures, AstroGuard, is a specially engineered polymer fabric that is made to withstand high winds and water during hurricanes. The company started manufacturing in 2005. Currently the state of Florida mandates all homes valued greater
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