Method of creating and implementing a marketing plan for a retail store chain with measurable profit enhancement
First Claim
1. A method of creating and implementing a marketing plan for a retail store chain including the steps of:
- a) developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products;
b) implementing said plan in said retail store chain;
c) measuring gross sales and gross profits for stores in said chain including determining whether said plan has enhanced gross sales and gross profits;
d) responsive to said determining step, modifying said plan in a modified plan designed to enhance gross sales and gross profits;
e) implementing said modified plan; and
f) repeating steps c, d and e.
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Accused Products
Abstract
A method of creating and implementing a marketing plan for a retail store chain includes the steps of developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products, implementing the plan in the retail store chain, measuring gross sales and gross profits for stores in the chain including determining whether the plan has enhanced gross sales and gross profits. Responsive to the determining step, the plan is modified in a modified plan designed to enhance gross sales and gross profits. Once the plan has been modified, the modified plan is then implemented. The process is repeated through measurement of gross sales and gross profits for the modified plan, with subsequent modification and implementation of that plan. In this way, the plan is substantially perfected to maximize measurable enhancements in gross sales and profits of a retail store chain.
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Citations
20 Claims
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1. A method of creating and implementing a marketing plan for a retail store chain including the steps of:
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a) developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products;
b) implementing said plan in said retail store chain;
c) measuring gross sales and gross profits for stores in said chain including determining whether said plan has enhanced gross sales and gross profits;
d) responsive to said determining step, modifying said plan in a modified plan designed to enhance gross sales and gross profits;
e) implementing said modified plan; and
f) repeating steps c, d and e. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method of creating and implementing a marketing plan for a retail store chain including the steps of:
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a) developing a media and marketing plan tailored for the specific needs of a retail store chain including concentration on marketing of high margin products, said developing step including the step of creating a business model and measurement system, said measurement system including use of techniques chosen from the group consisting of cost analysis, measurement tracking schedule, ROI model, customer experience validation, and research and renewal model via point-of-sale and sales tracking data, said developing step further including the step of determining particular selling techniques that will be used in each particular store of said chain, said selling techniques including one or more chosen from the group consisting of cross-selling of related products, up-selling of products, private label recommendations, affinity product tie-ins, product usage suggestions such as menus, recipes, and how-to lists, health and fitness suggestions, occasion-based marketing tie-ins, and feature/advantage/benefit communications;
b) implementing said plan in said retail store chain, said implementing step further including the steps of defining and quantifying media content variations by market and store, said market variations including one or more chosen from the group consisting of demographic make-up, store size, SKU availability, and fixture type and size;
c) measuring gross sales and gross profits for stores in said chain including determining whether said plan has enhanced gross sales and gross profits, said measuring step further including the steps of determining the frequency of conducting measurements and shopper research, and analyzing retail point-of-sale and sales tracking data, said analyzing step including consideration of one or more criteria chosen from the group consisting of gross sales, gross margins, and market basket size analysis;
d) responsive to said determining step, modifying said plan in a modified plan designed to enhance gross sales and gross profits;
e) implementing said modified plan; and
f) repeating steps c, d and e. - View Dependent Claims (17, 18, 19, 20)
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Specification