Buhi_Marketing Plan_KLong

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Marketing

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Feb 20, 2024

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Kelsey Longmore Sister Running MKT 351 February 8, 2024 Buhi Marketing Plan Executive Summary: Buhi Supply Co. is a renowned business that provides essential bags to those who need and use them. I have developed a strong marketing strategy to increase their brand awareness and reach a wider audience, ensuring their continued success. This marketing plan will help the company reach its full potential by increasing revenue, audience growth, and networking opportunities. Past successes and failures have been reviewed to inform future decision-making. Actionable strategies will be developed through data analysis to achieve these goals. Goals: Business goals are crucial for every company, particularly for Buhi Supply Co., where achieving cusses is paramount. Short-term goals are essential steps toward long-term success. By making goals, Buhi Supply Co. can confidently propose a marketing plan that is in line with its values and goals. It is important to align these goals with the company’s values, which encompass operations, brand, culture, and revenue. Operation is crucial for business success. It ensures smooth functioning and customer satisfaction. A strong brand is essential as it attracts customers and builds loyalty, even if the products are priced higher. Therefore, building trust with your customers is an important step. Culture, which encompasses values, practices, goals, and attitudes, plays a significant role in contributing to customer trust. Trust in an organization is built on its work environment, company policies, and employee behavior. Understanding your

perspective helps customers trust you, leading to customer retention, new customer acquisition, and ultimately, business growth. Revenue is the income generated from product sales. The result of all these values working together is what makes the business successful. Buhi’s Supply Co. prioritizes audience growth by targeting specific demographics to sell their bags. My objective is to expand the network and increase reach, engagement, and revenue. To achieve this, I will identify the needs of my audience and the platforms they frequently use. By tailoring my approach to their interests, I will enhance revenue, engagement, and reach, resulting in increased traffic . Baggage is an essential item for everyone, making it highly advantageous to promote Buhi's products. Whether for school, work, or sports, students, employees, and athletes all require bags. By understanding the reasons behind their need and the platforms they use, I can confidently drive sales. As I leverage this knowledge, I can effectively promote Buhi’s products and increase sales. Understanding the rationale for buying a product and the key drivers of purchase, such as price and style, is crucial. Careful documentation of these insights will undoubtedly aid in expanding my audience. Getting to know your customers and interacting with them is crucial. When they see you as a real person with genuine values, they are more likely to purchase your product. By interacting with them, I gain insight into their needs and preferences, which helps me expand my network, increase engagement, and ultimately boost revenue. The brand is essential in achieving my goals because it drives network growth. Company values stem from the brand and are critical to customers who seek to buy from a trustworthy organization with employees who uphold ethical values such as respect, honesty, personal

responsibility, and dependability. According to Radu Dandu's article 'What is Branding and Why Is it Important?', ethical values drive actions that shape customers' perceptions of your company. Bags are versatile accessories that can be used for a variety of purposes, including travel, work, school, and sports. It is common for individuals to own multiple bags, each with varying sizes, colors, dependability, and handle types. Different cultures have unique ways of utilizing bags, adding to their appeal. By highlighting the diverse uses of bags, I can effectively showcase their versatility and appeal to a wide audience. Distribution is the process of making products and services available to consumers. It demonstrates the dependability of a business concerning both the products it sells and the services it provides. Buhi is committed to creating durable and functional bags that can be used in a variety of ways. To address questions about pricing, shipping options, pickup and delivery, and distribution timelines, a company must develop a reliable and efficient distribution system that ensures the timely delivery of products to its customers. Providing comprehensive information about a product or service increases revenue by helping customers make informed decisions. It is crucial to ensure that all relevant information is readily available to potential customers to achieve increased audience growth and sales. Utilizing social media platforms can confidently increase revenue. Social media is centered around interaction, engagement, and connection, and as a company or brand, it can be used to boost sales. According to Hersh Chopra's article on revenue, various revenue streams contribute to a business's success. To increase sales, it is important to encourage customers to make purchases at their discretion. This can be achieved through appealing photos, catchy captions, and coupon codes.

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My social media strategy will achieve these goals and result in successful engagements. This goal overview will keep me focused as I work toward their fulfillment. Research and Findings SWOT Analysis Content Analysis - How Buhi’s Brand Compares Against Herschel - Buhi and Herschel are pretty similar in brand as they are geared more toward selling baggage that helps their customers. Their goal is to satisfy every aspect of their customer's needs when

looking for a bag that will help them in their daily lives. Whether their customers require a bag for sports, travel, work, or school they provide bags that will benefit them in those areas. Their goals are quite similar in audience target as they base their bags on those different areas and apply it to their audience. They work hard to gain an audience that will benefit from those certain bags. This allows them to market well and get revenue off of all their promotions. Both brands seem to price their types of baggage the same according to what will best assist their audience. Depending on the type of bag and audience they price these bags a specific way. Their audience statistics seem very similar according to how they price their items. Each audience has a different range of income which is why Buhi and Herschel post their prices for different items. - Best Times Herschel Posted - They only really posted at 11 AM on random different days in the week to their Facebook page so obviously this would be their best time of how many likes they got in total of all posts. This is something that could be used as a new strategy so that they will get more of an audience. If they are always posting at 11 AM they are always going to get the same average engagements. When you broaden your horizons and implement different times, you’ll be able to see what time your targeted audience gets on the most. On Instagram, the time strategy works fine though as their audience seems to engage at that time. So many more comments and likes were on their posts on Instagram which I think is good. - Any Trends You Noticed -

The trend I noticed was the retro theme they used in all the photos and videos they posted. So, a lot of browns and bright colors along with the kind of glitchy effect. - Examples of Organic vs Paid Content - Most of their ads seemed to be organic ads as they weren’t promoted therefore making it known that it wasn’t paid for. All their ads were directly from the company itself with no CTA banner. This was from my observations. Below is an image of one of their ads (organic). - Difference Between IG and FB. Did They Prefer One? Do You Agree Based On the Demographics of Their Audience? - The difference between Facebook and Instagram was the amount of engagement they got on them. On Facebook, it was obvious that their audience was not from there because of the lack of engagement they received. Instagram had many more comments and likes for each post. It was crazy the difference I witnessed between the two platforms. It goes to show that their audience is mostly based on Instagram. I think for the audience they get on Facebook it needs to be revamped but Instagram seems great where it is at, in my opinion. - How Can You Apply What Herschel Did to Your Marketing Strategy? -

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I can look more into what platforms my audience engages in the most and use that for them. Another audience may be drawn to one platform whereas another audience is drawn to a different platform. Regardless I need to consider both and use specific trends that relate to that audience to get more engagement. Another thing is making sure I am well-practiced in customer service so that all customers are supported and satisfied. Identifying Your Target Audience Energetic Jill Percent of Market: 13% Age: 18-27 Gender: Female Income: $20,000.00 - $30,000.00 Interests Summary: Jill is a sporty fitness enthusiast who spends her free time teaching dance lessons or attending aerobics and yoga classes. She needs a good-looking tote or duffel to carry her gear in. She's excited to find a sporty bag that will look just as good as a carry-on as it will at the gym. Up-and-Comer Raj Percent of Market: 14% Age: 21-28 Gender: Male Income: $45,000.00 - $55,000.00 Interests Summary: Raj is starting a new job, and he's looking for a stylish, professional messenger bag to carry his laptop and documents. When he's not in meetings or traveling for work, Raj spends his free time reading the news and working on side projects.

Seaside Sally Percent of Market: 11% Age: 28-37 Gender: Female Income: $25,000.00 - $30,000.00 Interests Summary: Sally is a casual gal who spends her free time at the beach, and she needs a stylish new purse or totes to carry all of her beach essentials and children's toys on her next visit to the sea side. Whether sailing, swimming, or fishing, Sally is looking for something that's trendy, classy, and youthful that matches her beach-going lifestyle. City-Hopper Sue Percent of Market: 8% Age: 26-35 Gender: Female Income: $65,000.00 - $75,000.00 Interests Summary: Sue is a frequent flyer who loves planning her next sight-seeing vacation. She is on the lookout for a suitcase or messenger bag that is practical and durable, one that will simplify her packing and traveling both at home and abroad. Whether traveling for work or leisure, by plane, train, or automobile, Sue wants luggage that allows her to explore the world on her terms. Daypacker Tom Percent of Market: 30% Age: 24-31 Gender: Male Income: $25,000.00 - $35,000.00 Interests Summary: Tom is looking for a multi-purpose backpack for his next trip. An avid hunter, camper, and hiker, Tom needs a backpack that can carry his work essentials as easily as his camping gear. This bag should help him feel prepared, qualified, and pumped for his next wild excursion.

Hipster Mommy Kami Percent of Market: 7% Age: 33-42 Gender: Female Income: $95,000.00 - $120,000.00 Interests Summary: Kami wants a sturdy but trendy tote to carry her children's gear for school and extracurricular activities. A self proclaimed shopaholic with an eye for the latest look in dresses, shoes, and accessories, Kami's ideal bag reflects her fashion sense and makes it easy to organize her essentials while shopping at the mall or boutique. Back-to-School Mindy Percent of Market: 17% Age: 18-26 Gender: Female Income: $7,500.00 - $12,000.00 Interests Summary: Mindy is a fashion-forward college student who's looking forward to hitting the books this fall. Her university lifestyle relies on a messenger bag or backpack that conveniently holds her books, laptop, and other class supplies without sacrificing comfort or style. She spends her free time hanging out with friends. Examples of Social Media Content

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Definition of Social Media Distribution Channels Both Instagram and Facebook have been performing well as they are the two platforms that my current audience frequently uses. I have noticed that most of the products I promote are preferred by women, who seem to favor Instagram. In particular, I target Seaside Sally, Energetic Jill, and Back-to-School Mindy, as they have been more responsive. However, I have yet to find an effective way to reach other audiences. It is worth noting that these three audiences tend to use Instagram more than other platforms. I have observed that Facebook tends to resonate more with male audiences, such as Up- and-Comer Raj and Daypacker Tom. While these audiences may not be the most responsive to my promotions, I still find them to be more effective than others. It is my understanding that Facebook's platform is designed with a male-oriented approach, which may contribute to this trend. Women may prefer to see products in use, while men may prioritize functionality when in search of a product using different social platforms. As a result, women may be more likely to

use Instagram. Due to Instagram's focus on showcasing products in real-life situations, it may be perceived as more appealing to women. While Instagram is perceived to be more appealing to women, Facebook seems to be more appealing to a male audience. Based on my observations, it appears that men are more likely to use Facebook. According to what I have seen while using Facebook, people tend to share their achievements and travel experiences. This may be what gives the platform a more professional and travel- oriented vibe, which could be a reason why some men may prefer it over other social media platforms. Conclusion By observing my strategies and those of others, I have come to understand what works, what doesn't, and what could. This has enlightened me with goals and plans to improve my marketing strategy. Continuously applying both short-term and long-term goals will lead to greater success in reaching my target audience and generating revenue. I am looking forward to achieving my goals by the end of this process!

Buhi_Marketing Plan_KLong

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