Jomakins Furniture Limited: Marketing Plan (Essay Sample)

JOMAKINS FURNITURE LIMITED: MARKETING PLAN Presented by: Francis Meshileya Instructor: Dr. Karen Sanborn MountainStrayer University. Course: Marketing management (MKT 500)11/1/2014
Executive summary
The rate at which the today’s educational sector is expanding is competitive for both learners and the societies. The learner needs to be an elite scholar and get the best that the educational system can offer in a productive manner. The competition among educational sectors increase and the needs to improve teaching technique increases as the years go by. The strategic to great teaching is students who are attentive and focused. That is the reason Jomakins is introducing a unique class room Desk, chair called "The Throne." The Throne has the prospective to be an operative tool that would help in educational development.
Most students fined their chairs and desks uncomfortable for a learning environment so Jomakins is providing classroom chairs that are comfortable and extremely luxurious providing the most needed comfort in the educational sectors. The majority of students find their desks uncomfortable and restrictive , providing a limited work space where falling asleep in class all seem to be frequent problems for students. The Throne is the solution to these problems along with many others.
Our merchandise is chairs and desk designed with mind of comfortable and learning. The chair and the desk are high attractive, made with quality materials and offering students enjoyable sitting and working skill in the classroom. The chair consists of reclining and adjustable chairs, while the desk have more space for writing and reading, also Jomakins Furniture also providing a comfortable footrest added to legs of individual chair. The outcome of the chair and Desk provides lots of advantage in the competitive market over ordinary cost of others.
Jomakins operational plan to produces The Throne is both rated efficient and the effective of cost of production. The materials to be purchased are woods, plastics, steels, and other synthetics materials. Wholesale companies with leading ratings and reputation will build and test prototypes before mass assembly starts.
There is a need for the educational sector to increase their standards as it become more competitive and expensive. We believe Jomakins furniture’s (The Throne) have captured junior’s schools, high schools, college and universities. Our products is very prevalent choice for classroom furniture’s and we strongly have faith in this products leading us to 25.9 % increase and 2.9 % in our market shareholders market sales over the 4years period of being in business which prove to be a very valuable and profitable investment for present and future education
Sales Forecast
The company was established in November 5th 2010. Funds for furniture were procured from a loan for $200,000 from Capital One Bank. Within the first 4 years of being in business, Jomakins furniture generated $230,000 in yearly sales. We expect to see a dynamic increase of about 30.5% in the next 4years. Our goals for sales are during fall, summer, and spring. Every time schools resume the more sales the company will generate.
The following table below shows projected Chairs, Desk and Throne sales. As the company gets established in the market, we anticipate growth sales for the next three years.
Sales

Year 1

Year 2

Year 3

Year 4

Chair

100,000

120,000

125,000

128,000

desk

80,000

90,000

100,000

105,000

Throne

20,000

30,000

25,000

27,000

Total sales

200,000

140,000

150,000

160,000

Direct cost of sales

100,000

110,000

125,000

132,000

Others

0

0

0

0

Percentage increase in sales


20%

25%

30%

We company acclaim using Live Plan as the relaxed way to create involuntary financials business plan
Thorough Environmental Analysis
Jomakins furniture is a family owned and run furniture investment located in 111 Longcreek ways in the beautiful city of Centreville Maryland. The company specializes in classroom chairs and desk. We presently employ 12 full-time and 4 part-time employees. We are supplying chairs and desk designed with mind of comfortable and learning. Since the chair and the desk are of high quality and offer students enjoyable sitting and working skill in the classroom, it is handmade and requires 2 hours of assembly. The outcome of the Chair and Desk provides lots of advantage in the competitive market over ordinary cost of others.
Political Factor
As we all know, education is vital in to the economy and all political parties . Regardless of the party, the politicians will always want to be seen as supporting the educational system. With that said, politicians from both sides would what to be interviewed in a school setting where the students are using The Throne so they can give the impression that they support students comfort, learning and safety. Competitive Forces
The highest competitors of the company are Bassett furniture, pottery barn furniture, Ashley furniture, Wayfair, Allmodern and international furniture. The company brand name and its value of the product quality, numerous ranges of school furniture’s included make a strong basis to challenge the competitive market effectively. Currently, the company has the largest market share that is more than 2.9 % as the global market level.
Economic Forces
The amount of furniture establishment that failed in the united states from year 2001 -2008 was 120,000-16000 according to America Statistical Abstract of the State. Run and owning involves a lot of dedication and hard work. Our market would cater to people age of 4-37 year olds make up 52.5% of the population of the student to goes to schools.
Legal and Regulatory Factors
Starting any business in America involves licensing, fees, Permits and regulations and building furniture’s is no exception. Jomakins would have to get the right license to build and supply furniture’s. There would be extensive inspections to make sure that there are no hazardous materials since the products would be used in schools with children and adults alike. Jomakins would also have to procure a license in other to supply the throne to both public and private schools.
Target Market 4Ps, 5Cs and STP
4Ps: The 4Ps is the concept of marketing in the plan that assures the effectiveness of the business success in the market. Therefore, product, place, price, and promotion are collectively known as 4P’s. In this concern, the products of the Jomakins furniture are genuine that attract institutions attention and motivate to purchase furniture’s for their daily use. The unique features of the furniture products fulfill the needs and expectation of the schools. Further, the main place that the institution chose to sell its furniture is main cities in the USA and other countries. It sales the products through retail stores and online shopping.
Moreover, the price of the products is very challenging that constrains the effects of the competitors pricing strategy. It basically adopts price differentiation strategy because of the quality and unique features of the products. At last, the promotional strategy of the company is also very effective because it advertise its products through television, and newspapers as well as on the Internet to reach towards maximum customers at the global level.
Secondary Market 4Ps, 5Cs and STP
5Cs: The 5Cs are related to customer, company, competition, collaborators, and context in the marketing strategy of a company. Therefore, the Jomakins furniture in the context of customers makes essential school’s care products to satisfy the student needs and wants with an effective price. The company has established its market because of the valuable products that required in every institution for studies purpose and educational development. The company reputation and branding are the strong points that influence more and more schools at the global level. The technology of the company is very advanced that also establish a strong foundation to satisfy the needs of the students.
On the other side, Wayfair and Ashley ...