Integrated Marketing Portfolio: Financial Analysis & Strategy Guide

1 9-1 Capstone Component 1 And 2: Integrated Marketing Portfolio and Executive Summary Presentation Muhammad Lewis Southern New Hampshire University MKT 700: Marketing Capstone Instructor: Kayla Pierce

2 Financial Analysis and Pricing Structure Memo: Date: January 29, 2024 To: Jamie Green - Jamie’s Floral Delights From: (Mo) Muhammad Lewis Subject: Integrated Marketing Portfolio and Executive Summary Presentation Greetings Green The recent meeting was highly successful as we delved into the target market and the proposed location in the Missouri. To gain a deeper understanding of the potential profitability in Missouri, a comprehensive financial analysis has been conducted to assess the financial implications of entering this market. Kindly refer to the enclosed analysis going with this memorandum. Thank you Mo Lewis Financial Analysis and Reports The key to success lies in understanding your target audience, gathering insights about your competitors, figuring out the best strategy, and finding the specific market segment that deserves your utmost focus. Within this comprehensive guide, you will discover a wealth of information that will greatly boost your brand's success in its designated market. To enhance the rate of success for your brand among florists, it is crucial to enhance your sales, services, and marketability. To carry out this, there are numerous invaluable viewpoints that your brand can adopt.

3 It is essential to guarantee that each interaction with your business creates a lasting impression of positivity and memorability. It is crucial to recognize that a considerable number of potential clients may seek guidance in selecting the perfect floral composition that suits their requirements. (Royer). Nevertheless, it is important to consider that generating profitability for your brand will require a significant amount of revenue. Below, you will discover the detailed breakdown of the expenses involved in opening a new franchise when the opportune moment arises. Competitors:

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4 However, after conducting a thorough analysis of your competitors in the Kansas City, Missouri region, I have made several noteworthy observations that have the potential to enhance your brand. One particularly impressive rival in the florist industry is (www.lindasfloralandgifts.com). This well-known establishment offers a wide variety of rose options suitable for different occasions such as Christmas, birthdays, and expressions of sympathy along with some unique delivery methods to their customers. It is highly helpful to integrate comparable options into your brand and offer your customers a wide range of choices. This strategy will enable you to outperform your competitors and achieve greater sales and recognition. Not only will it enhance the attractiveness of your brand, but it will also boost sales and distinguish your brand from competitors in your locality. Moreover, it is worth considering the provision of next-day delivery or express services to both new and existing customers, ensuring that they receive their orders faster than those offered by your competitors. The prompt and dependable transportation of floral arrangements plays a vital role in preserving their quality and freshness. Due to the delicate nature of flowers, their stunning beauty and enchanting fragrance can fade quickly if not handled with the utmost care. Any delay in delivery could result in withered or damaged flowers, ultimately reducing the overall worth and appeal of the arrangement. (RPM Delivery Inc.). Additionally, you have the chance to enhance your sales and drive more traffic to your website by offering a diverse range of seasonal discounts to your customers. Recommend implementing monthly email marketing campaigns and prominently showcasing these discounts on your website. Furthermore, I highly recommend integrating a social media platform such as Facebook, Instagram, and Linkin to interact with your customers and obtain their valuable insights about your product, as this is currently not included in your existing framework.

5 Taking this action will allow you to attract the attention of both fresh buyers and devoted customers, ultimately resulting in a significant increase in your overall profits. Moreover, it will enable consumers to set up a better communication channel with their beloved florists. Don't miss out on this opportunity to enhance your earnings and strengthen your bond with your clientele. Reach and Sustainability: To ensure the long-term success of your product and effectively target your desired market, it is imperative to prioritize the freshness of your product throughout the shipping and local sales process. Neglecting this crucial aspect could potentially undermine consumer confidence and have a detrimental impact on the overall success of your product. According to an article from ideas.ted.com, the flower industry in the United States boasts an astonishing annual value of $55 billion. Interestingly, a significant portion of the flowers bought in the country are not sourced locally but rather imported from Columbia. (Sustainably- chic.com). It is highly advisable to obtain your flowers from local farmers and growers within the Missouri community. By doing so, you not only contribute to the growth and development of your local community but also aid in job creation and foster a sense of trust within the community. Furthermore, your brand must perfect its SEO capabilities to ensure that your customers can

6 easily find your brand. This enhancement plays a crucial role in attracting consumers to your business. The visibility of your floristry business website holds immense significance. Without being easily discoverable by individuals seeking a florist to send flowers to, your business will not attract any customers (Flowerstoreinbox.com.au, Feb 27,2023). On the other hand, there is a lack of comprehensive information about your company on social media platforms, which hinders consumers from gaining a deeper insight into your organization. Hence, it is equally vital to address this aspect. Audience: Based on the available information about the florist industry, I propose focusing on specific areas such as wedding, funeral, and boutique arrangements to achieve significant sales expansion during holiday periods. The average cost of wedding flowers is $2,200, with most couples spending between $500 and $3,500. The average floral budget is 8% to 10% of the total wedding cost (Tara. Farmer, Sep 2023).

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7 Please be aware that each organization experiences a typical expenditure, as previously said. I firmly believe that it is possible to set a price that will attract your customers and guarantee profitability. A perfect example of this is when a potential client desires to plan their own wedding. By employing target segmentation, one can efficiently partition their audience into smaller, more distinct groups. This method empowers marketers to customize their marketing strategies according to the unique requirements and preferences of each group, leading to more influential and pertinent campaigns. (THURSD, 2022). In my perspective, an overwhelming majority, approximately 90%, of individuals have resorted to roses to convey their affection towards their significant other or loved ones amidst challenging circumstances. Consequently, your primary focus should revolve around targeting females aged 25 and above, males aged 25 and above, and individuals who engage in gift-giving activities. The greater your comprehension of your intended audience, the easier it becomes to engage them effectively through your marketing endeavours. Although individuals who are not part of your

8 target audience may still make purchases, the return on investment (ROI) is likely to be relatively lower when compared to this specific group. (THURSD, 2022). To appeal to your intended customer base, it is imperative to consider specific elements including the pricing, delivery service alternatives, and the variety of occasions and floral arrangements you intend to provide. Furthermore, careful consideration should be given to the methods employed for advertising these products to captivate the target audience. I believe that using social media platforms, ensuring a regularly updated website, and incorporating paid marketing tactics will effectively entice prospective customers. Commercial, political, legal, or cultural factors influence: It is undeniable that in the floral industry, certain factors require meticulous attention when engaging in business activities. These factors encompass devising efficient marketing strategies to promote your products in a commercial environment, while also being cognizant of the political and legal dimensions that influence the industry. Based on the available data, it is evident that a florist brand possesses the capacity to experience a substantial surge in its earnings by venturing into the commercial sector, renowned for its expansive market size. The florist industry is expected to see a steady escalation in revenue, with a compound annual growth rate (CAGR) of 2.8%. By the conclusion of 2023, it is estimated that the industry will reach a revenue of $9.0 billion. (IBISWorld).

9 Therefore, it is highly helpful for your brand to investigate potential prospects in the business sector to achieve a boost in sales growth and meet your projected revenue goals in the upcoming fiscal year. Additionally, your brand should support a genuine and non-political approach while marketing your flowers to consumers, while also demonstrating respect for the culture and industry in which you operate. Furthermore, to effectively market your product, it is crucial to

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10 create a compelling influence on your customers. The package you provide should align with their innate values, ultimately fostering a desire for repeat purchases. Likelihood of Success: According to the data presented regarding your rivals and the market analysis, establishing a fresh branch in Missouri and other areas within the United States has the potential to generate substantial profits for your brand. A floral arrangement always proves to be a reliable choice, whether it is a modest addition for a young individual's inaugural prom or a heartfelt gesture on Valentine's Day. The floral industry, responsible for crafting these beautiful bouquets, thrives as it generates an impressive revenue of over $5 billion annually. Given the abundance of prospects to enter this market and reap financial gains, the present moment presents an excellent opportunity to embark on a florist business venture (OptimoRoute, April 7 ,2022). Nevertheless, it is crucial to recognize that this expansion will need considerable investment. Nonetheless, if you carefully consider all the information provided, it will ultimately prove to be a successful and rewarding endeavour. Expand your offerings beyond just flowers by including gift baskets, seasonal wreaths, and homemade candies. By positioning your store as a "year-round gift oasis," you can tap into a wider customer base and increase your revenue potential. This strategy can be particularly advantageous during slower periods. Additionally, consider collaborating with local crafters to instantly boost your inventory and offer unique products to your customers (Mika. Lo, 2023). Financial Forecasts

11 Annual Sales and Revenue According to the Society of American Florists, a retail floral shop generates an average of $362,318 in annual revenue, but many florists most likely bring in $200,000 or less in annual sales (Cho, 2020). Since Jamie’s Floral Delights is a start-up venture the sales and revenue for the first year will be projected at $200,000. Additionally, based on the compound annual growth rate (CAGR) of 6.34% provided by Mordor Intelligence (2023) the projected sales and revenue for year two will be $212,680. $200,000 x 6.34% = $12,680 $200,000 + $12,680 = $212,680 Year 1 Annual Sales CAGR Year 2 Annual Sales $200,000 6.34% $212,680 Market Share As of 2022, there were 33,477 florist businesses in the US which was a decline of -0.5% from 2021 (IBISWorld, 2023). While there is a decline in the number of florist shops in the US the biggest issue when it comes to market share is that 32% of the market revenue is generated by four companies (IBISWorld, 2023). This does not leave Jamie’s Floral Delights with much room, so the projected market share for the business would be less than 1%. The focus should be more on how the business can grow annual sales and revenue which will eventually lend to an increase in market share over time.

12 Expected Annual Return on Investment To create a projected profit and loss statement for the year ending 12/31/2024, consider the projected sales income for the year and other income that could come from delivery fees and consult fees. The total income for 2024 would be $220,000. Now the average start-up cost for a floral business is between $10,000 - $50,000 (Soard, 2019). Along with expenses for website/advertising, supplies, equipment, and inventory, there are expenses for taxes and other miscellaneous items. The total expense for 2024 would be $87,500 which would generate a net income of $132,500. The expected annual return on investment would be 151.4%. Profit and Loss Statement for the Year Ending 12/31/2024 INCOME % of Total Income Sales Income $200,000 91% Other Income 20,000 9% Total Income $220,000 100% EXPENSES Website/Advertising $5,000 6% Supplies (Vases, Ribbon, etc.) 5,000 6% Equipment 10,000 11% Inventory (Wholesale Flowers) 10,000 11% Taxes 50,000 57% Misc. 7,500 9% Total Expenses $87,500 40% NET INCOME $132,500 60% Calculation: Expected Annual Return on Investment sales income - cost of the investment/cost of the investment x 100 132,500/87,500 = 1.514 x 100 = 151.4% Break-Even Point

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13 The fixed cost for advertising/website, supplies, and equipment is $20,000. While the projected cost of flowers is $10,000 that could change based on the wholesaler, season, customer demand, and type of event. The variable cost per flower is $1.40, based on the purchase of 160 flowers for $225. By using a markup of 350% the sale cost would be $4.90 per flower. This would yield a break-even point of 5,715. In the first year, 5,715 flowers must be sold to break even and cover fixed costs. In the second year, there would be additional expenses, such as the purchase of a small used van for deliveries and the hiring of one part-time worker. This would increase fixed costs and an additional $30,000. If variable cost increase by 3% that would be a break-even point of 13,889. In the second year, 13,889 flowers would need to be sold to break even and cover fixed costs. Year 1 – Break-Even Point Calculation 20,000/ (4.90 – 1.40) = 20,000/3.50 = 5,714.28 Year 2 – Break-Even Point Calculation 50,000/ (5.04 – 1.44) = 50,000/3.60 = 13,888.88 Marketing Environment Analysis The flower market represents an 18-billion-dollar global industry that supports millions of people who grow, transport, and sell them (Fredenburgh, n.d.). When COVID hit in March of 2020 the world went into lockdown and as a result, the EU cut flower market lost $1.2 billion in the first six weeks of lockdown (Fredenburgh, n.d.). Even farms in Africa and South America were affected as flower exports from Kenya dropped 85% (Fredenburgh, n.d.). However, good also came out of a bad situation. The flower market was able to grow through online sales

14 because the pandemic caused a surge in e-commerce. This means that Jamies’s Floral Delights can sell and grow in the domestic US market and the international market. Per Mordor Intelligence (2023), the US floral market size will increase from $49.02 billion to $66.6 billion between 2023 and 2028. Jamie’s Floral Delights will be a part of this increase in market size. Marketing the online floral shop will be done through social media sites and a website. By creating a social media presence, the business can have no limitations on gaining customers. Pricing Structure The pricing structure that will be used is cost-based pricing. It’s a pricing strategy that adds a markup to the price of a product. For a start-up floral business, this is the easiest way to keep pricing simple. The markup will range from 350% to 400% with the possibility of an additional 20% of the retail price for labor. While the cost-based pricing structure doesn’t make the customer a part of the calculation (Deland, 2022), for a start-up floral business, this is the easiest way to keep pricing simple. The business will provide a multitude of flower and plant varieties, flower arrangements, and add-ons, so cost-based pricing will be more efficient. The ideal profit margin is 70%. The projected profit margin for year one is 60%. A few things that we can plan to improve on for year two are taking on larger delivery orders, increasing recognition in the wedding and event market, and opening new channels of distribution. A new channel of distribution would be becoming partnered with BloomNation. BloomNation is a Santa Monica-based online marketplace for local florists and allows florists to keep 90% of their sales (Cho, 2020). This will not only help expand business in the US Market but also give a wider presence online.

15 Integrated Marketing Communication Plan Promotional Objectives The marketing communication plan for the Jamie Floral Delight brand will employ various social media platforms and marketing campaigns to bring attention to your brand. In recent times, social media has become a primary avenue for brands to promote themselves, and they have also utilized social media influencers to endorse their products. I strongly believe that this approach is an ideal method to introduce your product to your target audience and market in the future. By leveraging social media, the Jamie Floral Delight brand will be able to showcase its offerings, including coupons and promotional deals that will be available. Additionally, it is highly recommended to utilize various forms of promotional marketing to enhance brand visibility and generate awareness. These means include Email Marketing, Social Media Marketing, and Content Marketing, all of which serve as effective tools for engaging with the audience. The implementation of email marketing enables the brand to regularly send promotional events and deals to customers via email, ensuring that they are informed about upcoming promotions. Social media marketing, on the other hand, necessitates the deployment of paid advertisements to expand brand awareness and attract a larger consumer base. Lastly, content marketing allows Jamie's Floral Delight to showcase its products to the audience through videos and digital advertisements, providing a visual perspective and insight into the brand's floral arrangements. Overall, by utilizing these diverse communication channels, Jamie's Floral Delight can effectively engage with its target audience, promote its brand, and establish a strong presence in the market.

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16 Communication Options Jamie's Floral Delight demonstrates a remarkable ability to utilize various communication channels to establish meaningful connections with its intended audience. The maintenance and upkeep of its well-established website is of paramount significance as it enables direct interaction between consumers and the cherished brand. However, it is important to consider that maintaining your website can also be beneficial for tracking your Key Performance Indicators (KPIs), which in turn assists the brand in making informed strategic decisions regarding daily consumer interactions and how much one makes in profit and sale and the demographic and where your product is being purchased. Key Performance Indicators (KPIs) serve as essential measurable indicators that gauge progress towards a desired outcome. These KPIs play a pivotal role in directing both strategic and operational enhancements, establishing a foundation for informed decision-making, and directing attention towards the most significant aspects (KPI.org, 2024). Here is an illustration of how a Key Performance Indicator (KPI) will appear when monitoring the metrics for Jamie's Floral Delight using sites like Google Analytics.

17 Figure#1: Image retrieved from www.hanafloristpos.com Additionally, it would be highly advantageous to establish a social media presence to directly engage with consumers. By leveraging social media platforms, Jamie's Floral Delight can effortlessly share its latest floral arrangements with clients and receive valuable feedback regarding the quality of service provided. Considering the competition in the market, it is recommended to make use of the Google Renounce website, particularly Google ads, to initiate promotional campaigns. This strategy will

18 enable your brand to gain a competitive edge and effectively reach a larger audience. However, it is crucial to acknowledge that this approach involves certain expenses. Generally, the average cost per click (CPC) in Google Ads varies across industries, with Search advertisements averaging at $2.69 and Display advertisements at $0.63. Despite the costs, the return on investment will be worthwhile if you consistently deploy the minimum required advertisement daily (Sydney Go, Dec 15, 2023). This will allow your brand to attract more consumers and yield a high ROI. To illustrate, here is an example of the cost of paid advertisements in the florist industry along with a simple starting point/Budget for paying for this advertisement. Figure#2: Image retrieved from www.loveliveson.com/flower-shop-advertising-and-marketing-strategy Figure#3:

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19 Image retrieved from Semrush Blog .com Deploying paid advertisements is crucial as it ensures that your ads for Jamie's Floral Delight will be prominently featured on Google SEO and various social media platforms. This strategic approach will effectively capture the attention of a broader audience, resulting in increased revenue and a significant boost in sales for your brand. To provide you with a visual representation, below is an illustration of how these paid campaigns will appear across multiple platforms and will share your reviews and the location of your business. Figure#4:

20 Image retrieved from Semrush Blog .com The details will undoubtedly enhance your comprehension of the strategies employed by your competitors to boost sales and revenue. You should adopt these same approaches to attract a larger customer base and secure long-term business success. Timeline and Measures of Success To optimize the effectiveness of your marketing campaign and attract customers, it is advisable to create a timeline that incorporates the implementation of these strategies every two months throughout the year. This approach ensures favourable outcomes and maximizes attention. The rationale behind this recommendation is that the gift of giving begins with Valentine's Day, which marks the start of heightened activity in terms of individuals purchasing bouquets for their sweethearts and planning weddings during the spring and summer seasons. Additionally, this period allows for the availability of the freshest flowers, enabling your company to offer the highest quality products to customers. By utilizing these methods to

21 promote your brand, you can guarantee a significant increase in traffic. I am confident that this approach will fall within the company's budget and lead to a successful marketing campaign, ultimately resulting in a beneficial and profitable return on investment. In terms of budget allocation for these marketing campaigns, I suggest investing a minimum of $5,000 per year to foster growth and attract a diverse range of consumers, both young and old. Legal and Ethical Factors Compliance with the regulations set by the state and local government is of utmost importance when it comes to selling products in your respective industry. Adhering to these guidelines not only ensures the protection of your consumers but also allows your brand to operate within the legal framework. In the case of selling plants and products, it is specifically crucial to comply with the guidelines provided by your state and local government agriculture department. For instance, in Missouri, there are specific rules that need to be followed when selling plants or flowers to your community. Acquiring the appropriate certification for selling these products is a necessary step to abide by the legal rules. The Nursery Dealer's Registration-Inspection Certificate is one such mandatory requirement under the Missouri Plant Law. This law states that every nursery dealer must obtain this certificate annually for each location from which they sell, offer for sale, or distribute nursery stock within the state. Complying with this requirement is essential for nursery dealers who wish to engage in the sale or distribution of nursery stock in Missouri (Mo.gov, 2023). Furthermore, it is advisable to avoid overpricing your customers or engaging in price gouging practices solely to maximize profits. Such practices can result in a loss of customers who may choose to take their business elsewhere. To ensure that your pricing strategies align with the

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22 regulations, it is recommended to consult with your legal team. They can provide guidelines on staying within the legal boundaries and assist you in obtaining formal and written guidelines from your state agriculture department. These guidelines should cover aspects such as pricing and product processing, enabling your brand to maintain longevity and thrive in the market. Sample Marketing Communication Based on the information provided for this marketing campaign, the forthcoming advertisement for Jamie's Floral Delight aims to enhance the return on investment (ROI). The primary objective of this advertisement is to promote the brand and attract new customers, thereby increasing sales. Additionally, it aims to establish a connection with potential customers for the upcoming season. The main idea behind this campaign is to introduce the brand to a wider audience, generating momentum and providing insights into what the brand has to offer in the upcoming year. The flyer accompanying the campaign will capture the interest of new consumers, encouraging them to sign up for the newsletter and available perks while purchasing

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23 floral arrangements during each season.

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24 Justification Based on the information provided for this marketing campaign, the forthcoming Therefore, based on the comprehensive Integrated Marketing Communication plan outlined above, I am confident that by adhering to its principles, Jamie's Floral brand will experience a significant boost in sales and attract a larger consumer base. These outcomes will undoubtedly contribute to the brand's long-term success and sustainability. Looking ahead, the company aims

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25 to leverage its established foundation to expand into other states and establish a global presence. This strategic move will not only drive sales growth but also attract a multitude of new consumers, ultimately leading to increased success and a higher return on investment for the brand. Implementation, Evaluation, and Control Implementation: The primary objective of Jamie’s Floral Delight establishment is to establish a stronger presence within the Missouri community and the online market. To increase sales and achieve a return on investment (ROI), it is crucial to raise awareness about specific aspects of this brand. The integrated marketing communication (IEC) strategy aims to attract new consumers by analyzing metrics that reflect the online traffic passing through the website. Furthermore, it is essential to measure key performance indicators (KPIs) to evaluate the financial and operational achievements of Jamie’s Floral Delight as the brand grows. Therefore, the goal is to ensure your brand thrives and becomes productive in the future. As a result, the key aim is to ensure the long-term prosperity and profitability of your brand. This can be achieved by implementing a comprehensive approach that incorporates social media marketing, local advertising, and utilizing your primary online platform, such as your website, to effectively communicate and establish connections with your target audience. Methods that will be used for the Jamies Delight Brand: Social media marketing will serve as the primary strategy for drawing attention to the Jamie's Delight Brand. To achieve this, the brand will employ various paid social media

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26 marketing campaigns on platforms such as LinkedIn, Instagram, Facebook, and Twitter. These campaigns aim to generate interest and establish momentum, ultimately redirecting traffic towards the brand's landing page on their website. Therefore, this method will result in a broader outreach to both the local Missouri community and the entire country. By utilizing social media, Jamie's Floral Delight brand can effectively present its products to a wider audience through daily storylines and posts. This strategy not only offers a glimpse into the brand's current offerings but also provides a preview of what customers can expect in the future. Consequently, it will enable the brand to distribute its product nationwide, thereby boosting sales and enhancing the company's return on investment (ROI) in the long run. Additionally, Jamie's Floras Delight will implement an alternative approach by integrating targeted advertisements in local newspapers, such as the news section of Springfield New-leader.com. This strategy aims to reach out to individuals who have limited internet usage and prefer traditional methods. However, those who rely on online news sources can also access the brand's website to explore more about its offerings. By utilizing this advertising method, the brand will provide valuable insights about its products and services, while simultaneously driving traffic to its landing page. Consequently, this approach will effectively enhance the brand's local visibility and exposure. The brand must adhere to the initial budget of $5,000 while utilizing the marketing methods mentioned earlier. Our objective is to allocate the budget between social media campaigns and newspaper advertisements, dividing it into specific sections. The proposed plan is to execute these campaigns from February to September. By implementing these strategies effectively, I am confident that the Jamies Floral Delights brand will attract a significant number

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27 of customers both regionally and internationally. Timeline: 1. From February to June, Jamie's Floral brand will be launching an exciting event through various social media platforms such as YouTube, Facebook, and Instagram. This event aims to introduce the brand to the public and provide valuable insights to potential customers. A spokesperson will be present to represent the brand and share information about the unique offerings it has in store. Additionally, during this event, the brand will unveil exclusive consumer deals and offer coupons for their exquisite floral arrangements. This live broadcasting campaign, which follows a minimalistic approach, will require a budget of $500. 2. Moving on to July and August, the focus will shift towards showcasing the company's floral arrangements to a wider audience through social media. The dedicated marketing team will diligently share messages and updates about the brand's offerings daily. This consistent effort aims to raise awareness about the brand and attract a larger consumer base. By leveraging the power of social media, the brand hopes to boost its sales and establish a strong presence in the market. 3. As the season comes to a close in September, the marketing team will organize multiple local events to provide detailed information about the services offered by the brand. Although these events are not the primary focus during the final month, they serve as an additional avenue to engage with potential customers. Furthermore, with the traction gained through the brand's web domain, an email list will be compiled to share exclusive deals and promotions. This strategic approach allows the brand to effectively reach its target audience and further enhance its reputation. To facilitate seamless ordering for new customers, the company plans to allocate the remaining $4,500 to develop a user-friendly application. This application

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28 will enable customers to conveniently place orders on the go, providing them with the flexibility to shop from the comfort of their own homes and at their preferred time. Evaluation: The IEC also relies on demographic and geography reports to gain a deeper understanding of its target audience. The demographic report provides valuable information about the characteristics and preferences of the individuals engaging with the IEC's offerings. This data enables the IEC to tailor its messaging and outreach efforts to better resonate with its audience. Furthermore, the geography report allows the IEC to identify geographical areas where its initiatives are most successful or where there may be untapped potential. This knowledge can inform future marketing campaigns and resource allocation. Demographic As a result, the IEC will primarily focus its efforts on attracting individuals who fall within specific age and gender categories, as they are the ones most likely to demonstrate a genuine interest in the art of floral arrangements. These individuals are more inclined to dedicate their time and resources to creating and presenting floral gifts to their significant others during sentimental periods or during those special times of the year that hold a particular significance. By tailoring its demographic profile to target these specific individuals, the IEC aims to provide a platform that caters to their unique needs and preferences in the realm of floral arrangements. Example of a Demographic for floral arrangements:

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29 Figure#1: Image retrieved from www.flowerstoreinabox.com.au Figure#2: Image retrieved from www.flowerstoreinabox.com.au

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30 Figure#3: Image retrieved from www.flowerstoreinabox.com.au Geography and ROI The Jamies Floral Delight brand has its roots in the Missouri area, but its primary objective is to expand its reach within the local community and surrounding areas during the initial stages of its launch. To ensure that the brand resonates with the community, our marketing team intends to employ metrics to track the community's response. Utilizing tools like Google Analytics will enable us to monitor these metrics effectively and gather valuable feedback, thereby ensuring that the brand remains aligned with the community's preferences and expectations. By implementing these strategies, I am confident that the brand will experience a significant increase in website traffic and a low bounce rate conversion. This will play a crucial role in attracting the ideal consumer base. The ability to track and analyze metrics through tools like Google Analytics will provide valuable insights into the community's engagement with the

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31 brand, allowing us to make informed decisions and adjustments to further enhance its alignment with the target audience. To rectify the discrepancy between the individuals you aim to engage with and those who visit your website, it is recommended to initiate the process by crafting a personalized segment that caters to your ideal demographic. This strategic approach will enable you to establish a stronger connection with your target audience and ensure that your website attracts individuals who closely match your intended audience (Christie. Osborne, 2024). The effectiveness and profitability of different marketing campaigns can be measured by the Return on Investment (ROI), which is a crucial metric. For Jamie's Floral Delight brand, the monthly expenses for advertising, direct listing and hosting, and other marketing campaigns amount to approximately 10 thousand units. At the end of each quarter, the ROI for these marketing efforts will be assessed to evaluate their impact on the overall performance of the Jamie's Floral Delight brand. By monitoring the ROI, the brand can make well-informed decisions regarding resource allocation, identify successful marketing channels, and optimize future marketing investments to achieve maximum returns. This analysis allows Jamie's Floral Delight to effectively manage its marketing activities and ensure the best possible outcomes for its brand. Examples of these metrics for floral arrangements: Figure#1:

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32 Image retrieved from www.transparencymarketresearch.com Figure#2: Image retrieved from www.transparencymarketresearch.com Control: Jamie's Floral Delight strives to effectively communicate its brand's objectives and goals by highlighting the specific segments that align with them. Moreover, the company diligently monitors and implements the outlined plans to ensure their successful execution and long-term achievement. By staying on top of these plans, Jamie's Floral Delight aims to establish a solid foundation for sustained success. If the metrics do not meet the desired targets, the frequency of check-ups will be increased to a weekly basis. This intensified monitoring approach allows for the timely identification of areas requiring improvement. By closely monitoring progress on a more frequent basis, Jamie's Floral Delight can promptly address any shortcomings and make necessary adjustments to enhance performance. However, if no progress is observed even after a month of intensified monitoring, the company

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33 will make budgetary adjustments to effectively tackle the situation and drive positive outcomes. Global Trend: Global trends have a significant impact on the productivity and growth of every brand. These trends provide valuable insights into market dynamics, enabling brands to anticipate and adapt to the ever-changing market conditions. By leveraging global trends, Jamie's Floral Delight can effectively forecast market movements and anticipate the product lifecycle, thereby enhancing its strategic decision-making process. The influence of global trends on brand performance cannot be overstated. By closely monitoring these trends, brands gain a deeper understanding of consumer preferences, emerging markets, and technological advancements. This knowledge empowers Jamie's Floral Delight to proactively respond to market shifts, identify new opportunities, and stay ahead of competitors. Moreover, by aligning its strategies with global trends, the brand can position itself as an industry leader and build a strong reputation for innovation and adaptability. In essence, global trends serve as a compass for Jamie's Floral Delight, guiding its actions and enabling it to thrive in a rapidly evolving marketplace. Examples of the Global Trend floral arrangements: Figure#1:

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34 Image retrieved from www.transparencymarketresearch.com Figure#2: Image retrieved from www.transparencymarketresearch.com Reference:

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35 Cho, H. (2021, April 21). How to Start a Floral Business: Tips on Seed Money, More. NerdWallet. https://www.nerdwallet.com/article/small-business/start-floral-business#:~:text=So %20let's%20say%20you%20run,growers%2C%20wholesalers%20and%20retail%20florists . Deland, A. (2022, August 22). Understanding Pricing Strategies, Price Points And Maximizing Revenue. Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2022/08/22/ understanding-pricing-strategies-price-points-and-maximizing-revenue/?sh=302120007e96 Fredenburgh, J. (n.d). How the Covid-19 pandemic hit the cut-flower chain . BBC. https://www.bbc.com/future/bespoke/made-on-earth/how-the-covid-19-pandemic-hit-the-cut- flower-chain.html IBISWorld. (2023, December). Florists in the US - Market Size, Industry Analysis, Trends and Forecasts (2023-2028). https://www.ibisworld.com/united-states/market-research-reports/florists-industry/ #FinancialBenchmarks IBISWorld (2023, December 14). Florists in the US - Number of Businesses. https://www.ibisworld.com/industry-statistics/number-of-businesses/florists-united-states/ Mordor Intelligence. (2023). US Floriculture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028). https://www.mordorintelligence.com/industry-reports/united-states- floriculture-market Soard, L. (2019, May 4). The Average Cost in Starting Up a Floral Shop. https://smallbusiness.chron.com/average-cost-starting-up-floral-shop-13355.html We Love Florists. (2021, January 28). Florist Pricing: A Basic Guide to Markup. We Love Florist: A Floristry Resource Website. https://www.weloveflorists.com/2021/01/28/florist- pricing-a-basic-guide-to-markup/

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36 Linday. Floral. (2023) Retrieved from RPM Delivery Inc. (2023). THE IMPORTANCE OF LOCAL DELIVERIES FOR FLOWER SHOPS https://rpmdelivery.com/blog/the-importance-of-local-deliveries-for-flower-shops/ #:~:text=Quick%20and%20dependable%20deliveries%20also,and%20appeal%20of%20the %20arrangement . THURSD. (2022) How to Define Your Flower Business's Target Audience https://thursd.com/articles/define-your-flower-business-target-audience Sustainably-chic.com, (2023) A Guide To Ensure Your Flowers Are Sustainable & Ethical https://www.sustainably-chic.com/blog/sustainable-flowers Royer. (2023) 3 Ways Florists Can Differentiate Their Businesses From Competitors https://www.royercorp.com/3-ways-florists-can-differentiate-their-businesses-from-competitors/ IBISWorld. (2023) Florists in the US - Market Size, Industry Analysis, Trends and Forecasts (2023-2028) https://www.ibisworld.com/united-states/market-research-reports/florists- industry/#IndustryStatisticsAndTrends Franchisegrade.com. (2023) 1-800-Flowers.com Franchise Review https://franchisegrade.com/franchises/1-800-flowers-com Flowerstoreinbox.com.au, (Feb 27,2023) Why is SEO so important for Florists? What are the fundamentals I can do? https://www.flowerstoreinabox.com.au/blog/why-is-seo-so- important-for-florists/ Tara. Farmer, (Sep 2023) Average cost of wedding flowers https://fash.com/costs/wedding-flowers-cost

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37 OptimoRoute, (April 7 ,2022). Running a Successful Florist Business in 2022: A Complete Guide https://optimoroute.com/florist-business/ Mika. Lo, (2023). How to Be a Successful Florist https://work.chron.com/successful-florist-14860.html KPI.org. (2024). What is a Key Performance Indicator (KPI)? https://www.kpi.org/kpi-basics/ Go, S. (2023, Dec 15). How Much Does Google Ads Cost? 2024 CPC Analysis. Semrush Blog. https://www.semrush.com/blog/google-ads-cost/ Missouri Department of Agriculture. (2023). Nursery & Greenhouse Management https://agriculture.mo.gov/plants/nurseries/ Flower Store in a Box. (2019). Who are your floral customers? https://www.flowerstoreinabox.com.au/blog/floral-customers/ Osborne, C. (2024). 5 Metrics every florist should track each month. https://education.teamflower.org/learn/business/5-metrics-every-florist-should-track- each-month Maximize Market Research PVT. LTD. (2024). Floriculture Market-Global Industry Analysis and Forecast (2023-2029). https://www.maximizemarketresearch.com/market-report/global-floriculture-market/ 23982/ Transparency Market Research, Inc. (2024). Cut Flower Market. https://www.transparencymarketresearch.com/cut-flower-market.html

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9-1 Capstone Component 1 And 2- Integrated Marketing Portfolio and Executive Summary Presentation-N

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