Roger Mills of Kiai Marketing Group
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MARKETING REPORTKiai Marketing GroupBUSINESS 1220EJune 5, 2016Executive Summary There are several challenges that Roger Mills of KIAI Marketing Group are facing, including deterring a target market and find his first customer, determine the product’s selling price as well as how much to pay his employee, and achieve the first year profit goal $5000. Kiai Marketing Group as a new business, Kiai lack of brand awareness. In order to be success of Kiai Marketing Group, Mills should decide target small businesses as his target market, price his product and service at $1200/ year, hire students and place produce in the right location, and promote his product and service. Kiai Marketing Group is a start up company and lack of brand awareness. Roger Mills should target small business as his first client. Since small business have support from the London government and they both eager to target student demographic. Moreover, Kiai’s products are unique and novelty; it is easy to attract students attention. This not only can build awareness among students, but also appeal more potential clients. Determine product price is another challenge for Roger Mills. The wisest way to determine the selling price is using the median number of Cost Per Impression (CPM). Since Mills can not guarantee the impression and he do not give customer a “cheap” option, the median number should be perfect to Kiai. Therefor, $1200/ year should be products’ selling price. This is a reasonable and competitive price for Kiai, which can help Kiai increase brand awareness. What’s more, Mills should hire 10 university students as his group number, and promote his clients’ logo. Also, Mills should pay his employee $18 every week which is an appropriate price for students, and attract more students will work for him in the future. In order to achieve Roger Mill’s personal profit goal of $5000, Mills should consider some marketing strategies to promote his product. Attending the Trade Show, creating business cards, becoming a membership at the Small Business Centre, attending networking sessions as well, these are the most effective way to promote Kiai Marketing Group. It is helpful for Mills to increase his band awareness and get marketing share. In sum, the following paper presents a marketing plan for Kiai Marketing Group, which could help Roger Mills achieve success. Roger Mills and Kiai Marketing Group will run successfully and achieve his goal.Marketing Challenge As Roger Mills, the owner of Kiai Marketing Group (Kiai), there are three major marketing challenges Mills has to face, including deterring his target business and target market, determining the selling price, as well as the number of employees should be recruit and employee salary. Aim to achieve a personal profit goal of $5,000 for the first year and operate a successful business. Roger Mills have to make decisions and overcome challenges. Internal Analysis Finance Mills just finished his second year of university and willing to spend his personal savings to operate this new business. As a university student, Mills does not have sufficient funds to invest into his new company. Kiais financial position should be low and has a limited marketing budget, which is mean that Kiai does not have enough fund to be competitive compare to its competitors. Marketing As a start-up company, Kiai has limited brand awareness. This may be a big challenge for Kiai attracting its first client. However, Mills selected 10 western students and asked them to introduce Kiai’s products and clients’ advertisements; this is a good way to word of mouth to be discovered by potential clients. When someone notices the laptop, employee not only introduces the customers’, but also increase brand cognitive among students.
Human Resources Roger Mills was in a winner team of the Impact Apprentice what mean that Mills have entrepreneurial and managerial experiences. Also, Mills is the only manager of Kiai, so he can make any decisions and will not affect by others. However, there is no one can give him appropriate advices during the hard time. Moreover, Mills hopes to be entering the HBA program at Ivey Business School, meaning he has the passion and ability for entrepreneurship. Mills plans to hire 10 university students as Kiais group members. This is good for Kiais development because peers influence is unpredictable, and it is an opportunity to increase Kiais awareness among western students. Operating Compare to other traditional advertisements, Kiais form of advertising is really creative, it is a great chance to stand out, be different and be memorable. However, it is hard to guarantee the exposure. Because of Kiais limited financial position, Mills just connect with a small, one- person, local print shop. This could be a problem, if Kiai grow fast in the future, the small producer does not have ability to meet Kiais increased demand. External Analysis PEST Based on case mentioned, student government has restricted many companies from advertising on university campus. Although Kiai is different with traditional advertising company, it still is an advertising company. It is really dangerous for Kiai, if student government restricts Kiai advertise on campus, which probably mean the end of Kiais business. It is extremely important that Mills need to build a good relationship with student government before Kiais advertisements run on campus. Kiai is located at London, Ontario, which one of the top ten cities in Canada. There are lots of big corporations, meaning the citys economy is in a good position all over Canada. In the future, London will attract more and more big companies located here. University students definitely a big market for the most of businesses. This is also a big opportunity for Kiais development.University is a transition point for students stepping in real society. Most students use laptop in class, this creates a big number of opportunities for Kiai practice his idea. At the same time, it also can increase awareness among students, which are the most significant for the new business.