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Home My WebLink About10-24-95 (1996 Marketing Plan) City of Lakeville Community and Economic Development 1996 Marketing Plan (OCTOBER 24, 1995) • ~i~son ~nr~ceEing ~aroup. Is P.O. Boz 859. Wzyzaln, htn. 55391 (612) 376.2216 . Marketing Planning ~ratnework Marketing Goal Marlcnting Tools 1. Total Market/basic needs M 2. Segments of the market Segmentation Matrix A R 3. Tazget market selection Target Mazket Grid K 4. Key buying criteria Key Buying Criteria E Worksheet T 5. Other mazket factors Internal/External Factors Checklist R 6. Competitive Positioning Positioning Maps E Identify and S satisfy customer S~azY of competitive • needs better than advanta es` E com tition and at a profit 8. Objectives A 9. Strategy Strategic Direction and R (Unique Selling Proposition)' "LJ.S.P." Worksheet C H 10. Marketing Mix 1 • Product I • Price ~ Implementatio • Promotion Plans • Place (channels) • Personal Selling 11. Finandals 1 (P&L's, Projections, budgets, etc.) Results 12. Timetables 1 13. Risks and Issues • 'The Key to Strategy City ~i` Lakeville ~ Mark~~in~ flan 1996 Marketing Objectives 1. To have all 237 business owners to know about Lakeville and the advantages of locating in the community. • 2. To have four companies relocate to Lakeville within the next 12 months -one Manufacturing, Distribution/Wholesale, Business Service, and Medical/Health Services 3. To firmly establish in the minds of business men that The City of Lakeville is a business friendly community they can profitably grow their business. ~ Wilson Marketing Group, Inc. (612) 476-2216 Marketing ~t~atey Positioning Strategy Position the City as a well managed community offering a business owner a great competitive value, including a strategic location, quality and trained work force, abundant land, an established infrastructure, and a transportation system that provides excellent access to both the Twin Cities and national markets. Product Differentiation The City is to differentiated from surrounding communities through emphasis on: • -large blocks of land available now - established transportation systems - economical relocation costs (land, utilities, etc.) - a City that is business friendly - quality residential living Segmentation -Niche Markets Business owners who live within 15 to 20 minutes of Lakeville - Manufacturing - Transportation/wholesale - Business services - MedicaUhealth services ~ Wilson Marketing Croup, Inc. (612) 476-2216 • T r rke a get Ma t Characteristics o Privately held companies o Corporate headquarters D 0 or more employees o Owners live within 15 to 20 minutes of the City of Lakeville • o Types of firms - Manufacturing - Distribution/Wholesale - Service (finance, insurance, business services, engineering, accounting, and management consulting) - Medical/Health Services Wilson Marketing Group, Inc. (612) 476-2216 ~ Target Market NLmber of Prosnect~ Count -Manufacturing 68 -Distribution 8 - Wholesale 24 -Service o finance, insurance, etc. 21 o business services 65 • o engineering, accounting, and management services 8 - MedicaUHealth Services 15 -Other 28 Total Prospects - 237 business owners ~ Wilson Marketing Group, Inc. (612) 476-2216 Competitors Primary -Tier 1 Apple Valley 55124 Burnsville 55306 and 55337 Eagen 55120 through 55123 Secondary -Tier 2 • Bloomington 55420 through 55439 Edina 55410, 55424, 55436, and 55439 Farmington 55024 Prior Lake 55372 Richfield 55423 Rosemount 55068 Savage 55360 through 55378 Shakopee 55379 Lakeville 55024, 55044, and 55068 Wilson Marketing Group, Inc. (612) 476-2216 Distrilbution Strategy o Direct Mail -targeted mailings to 237 business owners - mailing to the business owner's home 1. Overview of Lakeville as a great community to raise a family. 2. Video and/or Interactive media showing the City as a great place to live. - mailing to the business owner's place of business 1. Letter and brochure describing the opportunities to relocate to Lakeville. 2. Targeted video and/or Interactive media on the • benefits of relocating to Lakeville. o Personal Sates Primary -Community and Economic Development Secondary - All city employees - City Council, Economic Development Commission, and Chamber of Commerce Partners - Land owners, developers, real estate companies, construction firms, etc. ~l~lfu~ Wilson Marketing Group, Inc. (612)176-2216 Advertising and Promotion Printed materialc -Professional looking materials - All materials coordinated - Packaging that businesses expect from vendors - City specific and industry specific materials ' Video - Overview on the City • -Overview on what makes Lakeville a good place to relocate - Industry specific videos to be inserted into the overview Internet - Overview of the City of Lakeville Interactive Comnttter Media -Overview of the City of Lakeville - Overview on what makes Lakeville a good place to relocate • -Industry specific videos to be inserted into the overview Wilson Marketing Graup, Inc. (612) 476-2216 Public Relations o On every list and survey o In every newspaper article o Town Square project o One or more articles published • Market Research o Annual surveys - Satisfaction Survey of business owners - of targeted business owners ~ Wilson Marketing Group, Inc. (6l2) 476-2216 Budget Estimate Videos * - $15,000 - Residential video $ 4,000 -Business video (standard) $ 3,000 - four industry specific (total) $ 8,000 ($2,000 - 3,000 each) outside production house cost - ifyou use the City's video production capabilities, the cost will be reduced. Purchase mailing list $ 1,000 Direct mail cost $ 1,700 Estimate (237 prospects -two mailings at $3.50 per mailing) ~tandard format for information sheets $ 100 Printing of information sheets $ 250 Estimate (50 sheets at 100 copies each at a cost of $ .OS each) Market research $ 100 Miscellaneous $ 1,000 Total $ 19,150 Note - I recommend that the City of Lakeville partner with the landowners, developers, contractors, and real estate companies to share the cost of this project. By doing so, the community can present a very professional business image to the business owners. Each person or company that contributes funds to this project would receive copies of the videos, reproduction rights to the information sheets, and a copy of the list of business owners. • Wilson Marketing Group, Inc. (612) 476-2216 ~ Partners 1. Presentation of the City in the most favorable manor 2. List of 237 prospects . 3. Copies of Residential Video for use in their marketing programs • 4. Copies of Industry Specific Videos for use in their marketing program 5. A coordinated effort to persuade a business owner to relocate to the City of Lakeville ~L~~ Wilson Marketing Group, Inc. (612) 476-2216 Action Plan • Start Completion Description Date Who 13y~d e_t When Comoleted Standardize information 11/1 1211 Carol S 100 All eaisting sheets information sheets have common format Develop new information! l/IS 12/15 Carol $100 Sheets ready for sheets printer Print new information 12/15 12!22 Carol $ 250 Sheets available sheets Produce residential video 11/1 1!1/96 MichaeU $ 4000 Video master Chris completed Produce business video 11/1 1/2/96 MichaeU $ 3000 Video master Chris completed Produce industry specific 11/1 1/2/96 MichaeU $ 8000 Video master videos Chris completed Purchase direct mail 11/15 11/30 Michael $1000 Computer disk has • names from TRW arrived Develop direct mail 12/1 12/29 MichaeU N/A Master letters ready letters (home & Carol business) Rank business owners 12/1 12/15 MichaeU N/A List ready names for direct mail Carol campaign Public relations campaign 12/l on going Carol N/A Articles published Have extra videos sent 1/5/96 1/12/96 Carol N!A Videos sent to landowners, developers, contractors and real estate Companies Direct Mail Campaign 1/15/96 1289/96 Michael $1700 Packages sent out Market research 5/1/96 5/30/96 MichaeU $ 100 Tabulated resulU Carol Wilson Marketing Group, Inc. (612) 476-2216