The Marketing Plan (Work in Progress)
Lifetime Gift Registry
Bus 610- Professor Ronisky
Lifetime Gift Registry is beginning its first year of operation. Lifetime Gift
Registry recognizes that marketing activities are critical to the success and profitability of
the business. Lifetime Gift Registry offers a virtually unlimited number of options for
gift-giving providing “one stop shopping” by providing its members with the ability to
add/purchase items from any store in the world for any gift-giving occasion. Our
customer market is middle to upper class working households with children as well as
single, employed, young to middle aged males. They have extensive gift giving and
shopping needs and prefer the convenience and speed of shopping from their home
Industry/ Environment Analysis
Technology We will maintain and provide an easy to navigate website where
customers are “happy” to shop online and feel our registry is of great
In order to remain competitive and ahead of the curve, we will frequently
make updates and improvements to our website and remain cutting edge.
Our customer’s privacy and security is very important to our organization.
Our customer’s financial and demographic information will be protected
by using the most up to date computer software security programs. As our
company grows we will continue to research and implement the leading
Economic Approximately 85% of all internet users shop online
Internet shopping makes up over 20% of all retail sales
29% of internet shoppers age 54 and younger polled state they will shop
Only 12% polled 54 and over reported they plan to shop online
Cultural In order to reach all customer demographics Lifetime Registry will include
many different types of companies, provide customer support in a variety
of languages, and possibly offer links to specific company’s based on
origin/language. We will need to specifically recognize the various “gift
giving” related holidays and increase advertising/marketing efforts during
We will need to establish settings for customer personal pages to provide
our customers the ability to express individualism by offering an option to
build and design their own personal page by choosing the background
design from a list of templates, select colors that they like, fronts, include
their picture, etc. Personal settings will also provide customers a choice as
to the level of security they set and decide who can see their pages and
have access to the list.
Knowledge One of the factors that will determine the quality of service delivered is
dependent upon how well the staff has been trained. Training will be
developed, implemented and maintained in order to support and develop
the skills of the workforce.
Finances Marketing budget of $185,000 for the 1st year, $225,000 for the 2nd
year; including website upgrades, quarterly mailings and monthly
Plan to spend approximately 1% of our revenue in marketing
The following SWOT analysis captures the key strengths and weaknesses within the
company and describes the opportunities and threats facing Lifetime Gift Registry.
Strong relationships with private label manufacturers that provide merchandise in
Efficient operations evident by immediate assist when needed through our
customer support, speedy & efficient delivery of products
Registry is a convenient & heplful service for anyone needing to purchase gift
Saves consumers time shopping around at various stores
Saves consumers worry or guess work as to what someone wants to receive as a
The lack of brand awareness due to the fact that Lifetime Gift Registry is a start-up
The proven strategies for developing online visibility are still being identified and
Limitations, not all companies/ stores offer a gift registry
An efficient business model within a growing industry.
The ability to service the entire country.
Provide differentiation through enhanced convenience and service attributes.
General trepidation of Internet-based business.
Copy Cats…. participating registries may attempt to remove themselves from our
Lifetime Registry and develop a similar type consisting of all the stores they
personally own (ie. Buy Buy baby, Bed Bath Beyond- same owner)
Adopting the marketing concept means that an organization must provide greater
customer value than its competitors. Being good is not good enough if a competitor is
better. It is impossible for an organization to develop strong competitive positioning
strategies without a good understanding of its competitors and the strengths and
weaknesses of the competitors.
Three levels of competition exist.
Direct competitors (other “generic” registries )
Universal Wishlist and Gift Registry Service for use as Birthday , Christmas Gift List or
Wedding, Baby Registry
Universal Wishlist and Gift Registry Service
MyRegistry.com is a leading service for online gift registries for weddings, baby
showers, birthdays, holidays and any other gift-giving occasions
Competition exists between products that can be substituted for one another (store or
Offers a number of green suggestions, but celebrants can fill in their own ideas and link
to products outside this site to offer the widest and most meaningful gift selection
possible encouraging non-material, second-hand, homemade, and environmentally
Honeyfund.com is the free honeymoon registry; free for both couples and guests with no
travel purchase required.
Competition exists among all organizations that compete for the consumer's purchasing
power (the overall industry - retail)
Specific to this retailer
The mission of the Lifetime Gift Registry is to provide our clients with a convenient
and reliable method for one- stop shopping. Customers who use the service will enjoy
the comfort of knowing they have purchased a personally requested and individually
wanted gift. Our clients who maintain a registry for themselves, allow family and friends
endless and effortless options for gift buying.
Obtain 2,000 customers over the 1st year, increase by 35% through the 2nd year
1st year sales forecast $650,000, 2nd year $725,000
Increase market share by over 7% during the 1st and 2nd years
Lifetime Gift Registry will position itself as a one-stop Internet boutique of high-quality,
competitively-priced merchandise. Lifetime Gift Registry’s competitive edge will be its
easy to use website and superior customer service. The desired positioning will be
Lifetime Gift Registry’s website design will be a competitive advantage because
research indicates that an easy-to-use website significantly increases sales. Too
often sales are lost because of complex websites. Keeping it simple will be a great
Lifetime Gift Registry’s other competitive edge is superior customer service.
Customers that call in with issues will be pleasantly surprised at the amount of
personal attention they receive, and how quickly issues are only resolved.
Superior customer service will be a powerful asset.
Lifetime Gift Registry plans to become the premier and most widely used gift registry in
the world. Our services will be endorsed and communicated through various methods.
We will promote our services via on-line advertisements, in- store displays and signage,
as well as print ads in large periodicals.
1. Market Needs
Lifetime Gift Registry is providing its customers with a wide selection of products from
individual stores. Lifetime Gift Registry seeks to fulfill the following benefits that are
important to their customers.
Selection: Customers demand a wide selection so all of their gift selections needs
can be met by one store.
Quality: There are hundreds of different stores selling products within the
U.S. Offering a products good quality but within a range of price categories is very
important in order to meet the preferences of our customers.
Customer Service: Consumers want to patronize companies that have customer
service as a priority. Lifetime Gift Registry will model their customer service
policies and processes after those of South-West Industries, a leader in the area of
2. Market Trends
The market trend for online purchases has seen a steady increase during the past decade.
This trend is fueled by several factors:
Consumer’s ability to shop any time
Consumers enjoy the time-saving from not having to navigate the traffic jams and
queues of holiday shopping
Information based on results of recent Nielsen survey of US shoppers
3. Market Growth
Despite the recession in the US economy, online buyers spent 29 billion during the 2009
holiday season. The number of Internet users in the US was forecasted to reach 205
million in 2010, accounting for 66% of the total population. The older Canadian
generation is the fastest growing segment of online users, quickly catching up to the
younger generations. Online spending in Europe is expected to grow 18 percent and
nearly 11 percent growth for the United States.
The short-term growth of mobile online shopping has been nothing short of phenomenal.
In the United States, purchases attributed to mobile online shopping specific to retail
grew from $396.3 million in 2009 to an impressive $1.4 billion in 2010. ABI Research
believes that in 2011, mobile online shopping in the US will double again.
Teens are a robust part of the economy. They have significant discretionary income of
their own to spend and also wield increasing influence on household purchases.
Leaders in the online retail community include:
Toys R Us
North america B2C E-Commerce Report 2010
Break Even Analysis
1. Difficulties and Risks
Problems generating visibility.
Software/hardware issues that challenge order placement and fulfillment.
2. Worst Case Risks May Include
Challenges securing additional capital (example: loans)
Keys to Success
Accessible website with the “feel” of a virtual store that is easy, entertaining and
fun to surf.
Excellent vendor relationship that will facilitate quick shipment of orders.
Establish an effective strategy for advertising
Create a store image that our target customers will see as attractive