Marketing Plan

Marketing Plan

Marketing Plan

Executive Summary

Sheffield cutlery is an UK based company that designs and manufactures cutlery products. The designs are based on the customer's need. The typical customer is either someone purchasing a handmade gift for a friend or relative, or someone who is interested in owning unusual everyday cutlery. Sheffield cutlery is a unique business opportunity that will allow Sue Glazer to combine her love for ceramics and parlay this affinity into a money making venture.  Sue will leverage her creative artistic skills to create innovative and attractive designs that will generate a strong demand.  Additionally, by offering low production, as well as custom designs, Sheffield cutlery will win over customers because of the great deal of flexibility.  Sheffield cutlery will gain a loyal customer base through a customer-centric business model. This business model makes the customer's satisfaction the highest priority. Sheffield cutlery will leverage its competitive advantage of a customer-centric business model to rapidly gain market share in the custom cutlery niche. Profitability will be reached by month nine and revenues for year three are projected to reach $78,000.

Introduction

Cutlery, in general usage, is the term used collectively for all types of cutting instruments. These include implements that are used for industrial, commercial and domestic purposes. Specifically, cutlery refers to utensils employed in the household like flatware utensils, including knives, spoons forks and other specialized implements, for eating and serving food. Swords, scissors, manicure and pedicure sets & instruments (Sheffield Cutlery Official Website, 2011)

Cutlery is broadly divided into two categories i.e. kitchen and table cutlery and non-kitchen and non-table cutlery. The general conditions in which companies in the cutlery industry can function cost efficiently have become increasingly fiercer in recent years due to growing internationalisation in the procurement and sales markets. The abolition of international trade barriers, the introduction of a uniform currency system in Europe, plus ever shorter product life cycles have all allowed new providers to penetrate the cutlery market. Diverse local conditions bring competitive advantages - e.g. cheaper raw materials, energy and labour costs, which frequently allow these providers to offer their products at a lower price than the traditional German cutlery producers can. As market barriers become less stringent and brand piracy increases, it can only be assumed that the market situation for European producers of tools and cutlery will become even fiercer in the coming years - much to the disadvantage of the traditional companies. In a conflicting area of increasing pressure in competition and costs on the one hand and limited resources on the other hand, the question arises in which value creation activities these limited resources should be invested - an issue which will assume more and more significance in the future (Hardie, 1997, 41).

Especially, in times of economic downturn a high rate of repurchase, a high customer loyalty and a positive company image are factors of success resulting from a high customer satisfaction. But how can companies achieve a high level of customer satisfaction in times of fiercer general conditions? For ...