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Emerging Business

Essay by   •  July 1, 2013  •  Research Paper  •  1,238 Words (5 Pages)  •  1,282 Views

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Table of Contents

I. Executive Summary

II. Vision and Mission Statement

III. Company History

IV. Company Products Services and Offerings

V. Marketing Strategy

VI. Competitor Analysis

VII. Description of Management Team

VIII. Appendix

I. Executive Summary

This plan presents Good Vapes as a reliable, profitable, and successful emerging business that will continue to grow in revenue and number of operating units. This report begins with Good Vapes' vision and mission statement, a description of its products and offerings, then proceeds with an overview of our marketing strategy, and finishes with a summary of our operational analysis.

II. Vision and Mission Statement

Good Vapes consistently offers the best vaping experience, produces the highest quality of made to order e-liquid in the market, and is recognized as an industry leader when it comes to providing the most friendly, knowledgeable, and comfortable customer service at a fair price for our fellow vapors.

Good Vapes is and will continue to be, as we expand into multiple national markets, synonymous with the following:

The most friendly, knowledgeable, and comfortable customer EXPERIENCE in the vaping community

Products are made from the highest quality American products available

Hand crafted and made to order E- juice

The most knowledgeable and helpful vendor for all products and services offered

We are a destination, not just a retail store for vaping materials

III. Company History

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IV. Company Products and Offerings

A personal vaping device (e-cig) is a small electronic device that allows a 'vaper' to inhale nicotine enhanced flavored liquid. The liquid contains liquid nicotine (adjusted to the user's request), USP grade ingredients, and natural flavors used in food production. The liquid is inhaled through a small personal electronic device simulating the action of smoking a cigarette. The inhaled substance is then exhaled by the user as water vapor. Preliminary testing has shown no adverse or negative health effects on users, and in many cases an overall improvement of total health has been reported. Preliminary testing has shown that vaping eliminates 4,200 different toxic chemicals that a traditional cigarette contains.

Our targeted customer base is divided into two segments. One segment of our target customer base is an individual looking for an alternative to smoking a tobacco product. Our product is a healthier, cleaner alternative to smoking traditional cigarettes. Our product is easily accessible to any current smoker not based upon age, sex, education, location or income. According to the Center of Disease Control and Prevention, there are an estimated 45.3 million adults that have reported as being an active smoker in America. Of this population, 68.4% or roughly 31 million people have reported that they would like to stop smoking traditional tobacco products. Out of the smoking population, 23.7 million smokers have tried one or more alternative methods to quit smoking within the last calendar year. Another portion of our guest base is the already existing community of vapers looking for a more personal experience. This portion of our customer base is very diverse and growing in quantity daily and is projected to increase exponentially over the next four years.

Our revenue stream is driven by two different categories. We sell personal vaping devices, replacement parts, accessories and modifiers for people looking for actual equipment or needing to upgrade their current E-cig. These are the physical component and tools used by vapers to replace the physical cigarette.

Good Vapes brand E-Juice is the product that we sell that keeps contributing to our increasing success and keeps a sustainable competitive advantage over other entities within the industry. Our handcrafted e-liquid is made to order in a wide variety of strengths, sizes and flavors to suit the individual needs of each vaper. Every drop of our liquid is made from the highest quality of US ingredients available in the marketplace. We currently have two hundred flavors for our customers to enjoy, and increasing our inventory with every recipe we perfect. The quality of components, precise ratios of ingredients, and the care we put into every order make our liquid far superior to anything else available to our customer base.

V. Marketing Strategy

The proven key to success in the retail industry is consistently providing the best customer service in the industry. A secondary key to success is an effective marketing strategy and how we place our products and brand in the market. With our multi layered effective marketing strategy and our superior standards of service, we are sure to create more customer traffic as well as increased frequencies of visits. Our marketing strategy consists of three layers that are different but equally important.

In store:

A. Interactive white board in new location to increase interactivity within store

B. Creating a rewards program

a.

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