Sze Cheng
AMN 211.0118 Travel, Tourism and Hospitality Marketing
Professor: Val Ginter
Title of work: Marketing advice
October 4, 2006
Dear Kirsten,
Thank you for seeking my advice on your business. You have found the right person to talk to as I've studied at LaGuardia Community College. Based on what I have learned from my marketing class, I would like to give suggestion as below:
Product, price, promotion and distribution (place) are basic concepts of marketing. First of all, you have chosen the right products and place to kick off your business. From what I have observed at the college, there are lots of students who carry laptops to school; some of them do not have cases to protect their laptops. Also, every student needs book bags; in this aspect, you have enough customer sources. Second of all, the place, I suggest you to look for a shop within 300 meters from the college. For example, spaces opposite to the college’s main building; that area has higher mobility since 7-Eleven and some coffee shops are located around there. Or, you can also consider the area opposite to the 7 train, as students must pass by there to reach the college.
Now, let’s talk about the price. The majority of LaGuardia students are from low income families, so it is unwise to set the price too high. I suggest you carry out a research study first. Check the price from your competitors near the college, as well as Staples, Best Buy and Target to decide what price you should set for your products. Do not set the price far away from them. Your advantage is: your boutique is very close to the college. In contrast, you have fewer items than those big names; so to speak, your customers have limited choices. For your reference, price of computer cases at Best Buy is from $19.99 to $199.99.
The last thing is promotion strategy. How do you let people get to know your products and boutique? You can design flyers and distribute them to students. Also, hang a banner outside your shop with the slogan “opening sales, 10% off” to get people’s attention. Or, ask your friends who study in LaGuardia to use your products and let them do the promotion for you. To impress customers by giving them discounts at the beginning of your business is a kind of promotion. Customer satisfaction is based on their past shopping experiences; once they are satisfied with your products and services, they will come back and express their experiences to friends, colleagues and so on. It would become a free promotion for your business.
The above is just my two cents but I do hope it helps. I wish you best of luck in your new venture. Let me know if you need further information.
Good Luck!
Sze