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Define the targeted market share

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Reference no: EM133519442

Assignment:

Zakdee's Garden Center has decided to move forward with the expansion to Knoxville. The new location might be free-standing, in a major shopping mall, or in a lifestyle center. It is planned to be between 15,000 and 30,000 square feet to generate the planned sales volume in the first year, depending on the location selected within the Knoxville area.

The store is expected to gross $1.27 million in the first year of operation, with an average unit sale of $8.15. Staffing is expected to include a Manager, 2 Assistant Managers, and between 15-20 full and part-time employees. During peak selling periods such as holidays, additional part-time employees will be hired as needed.

Market research conducted shows that consumers in Knoxville prefer high-quality products with moderate to higher-end price points, and they prefer a wide range of products to choose from. Outdoor living is a key component of this demographic, and product assortments should reflect this factor.

Addressing the following questions:

1. Develop core strategy statements for:

  • The products and services the store will sell to customers.
  • The type of customer service the store will provide.

2. Categorize the store's target customer groups, define the targeted market share, and explain your reasoning.

  • Recommend a location within the Knoxville, TN metro that would be ideal for this new store.
  • Explain why your research points to this solution.

3. Develop a plan for the store, including justifications for your decisions, that contains the following elements:

  • A general sales plan for the store opening.
  • Identification of the types of merchandise the new store will feature.
  • A general staffing plan for the store opening.

Reference no: EM133519442

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