Consumer Market
Based on US census demographic data for 2000, our initial target market group is Caucasian between 24 and 34 years of age. This age group represents 37.86% of the total 38,577 population or 14,604 customers and the gender is evenly split. With a median age of 30.4 years, the Hoboken market is considered young, urban and professional with incomes above $75,000 [Census].
These particular segments of the current population are the affluent "yuppies" of the Hudson County area. These residents are established with high paying positions interested in a comfortable lifestyle that includes services of convenience, physical fitness, entertainment, political and social issues.
Market trends and target market growth
Hoboken demographics show that the market primarily consists of people 24-34 years of age, it also shows other markets where Hoboken Happenings can benefit from. The Hispanic community has the greatest population numbers of any minority group; in fact it is second to the Caucasian group. Additional markets include households with families and senior citizens [Census]. Segments or entire shows could be produced and marketed to these specific groups. Focus within the first year of operations is on the 24-34 year olds, but it is projected that as the television show gains recognition there will be extensive growth in these market areas expanding the community of business sponsorships the show attracts.
Analysis of market demographics shows that the rental market consists of about 15,000 units and of those units, renters age 24 to 34 occupy 43% of the units. [Census]
Hoboken Happenings will benefit from this transient market because the information it will provide has the potential to consistently attract new viewers sustaining its market share.
SWOT
Together, the combination of the Internet site and television show is a dynamic force. Local markets will view Hoboken Happenings as an exciting opportunity for increasing market share.
Strengths
- Knowledge of the Hudson County area: Most of our staff is involved in various community-based organizations. As such, our expertise or familiarities with events within Hoboken are above par. This is our core strength.
- First to market: A television show highlighting the virtue of Hoboken. We will develop brand recognition and a reputation for outstanding television programming focusing on the Hoboken community. We will make exclusive deals with local businesses, whereby they will air the television show during its regular time slot as well as assisting in the marketing and promotion of the show.
- Penetration: The viewers of WMBC-TV 63, a cable channel that will air Hoboken Happenings exceed over 58,000 viewers in Hoboken and its immediate area. [WBMCTV.COM]. The growing population of Cable TV presents exciting opportunities for Hoboken Happenings. The total viewer market of WBMX is 3.8 million. Hoboken Happenings has the potential to expand well beyond Hoboken. WMBC-TV is also available on satellite systems DirecTV and Dish Network providing even greater exposure.
Weakness
- Sales expertise: Currently lacking extensive sales experience, where advertising sales is the backbone of the organization. For a small company, our level of expense to gain advertisement resources may prove challenging.
Employee base: Without a large staff - as other media outlets have to service their products - our unit must be available 24/7 to respond questions, maintenance, and changes to our web and cable programs.
Identification: Until the show reaches the familiarity stage with viewers, business sponsor is more comfortable with other less risky business models.
- Television production: The ability to provide an exceptional line-up of shows that is both interesting and consistent with the actual needs of the citizens of Hoboken versus the perceived needs.
- Target market: Dependent upon on a market that tends to be spontaneous and extremely diverse in its views.
Opportunities
- The Internet is leading the way for marketing in the 21st century. Growth rates are exceeding expectations in web traffic alone. Surfers may stumble on our site and be directed toward the show.
- The diversity of local demographics is exciting. Attracting the major market as well as a wide spectrum of citizens is a must.
- National awareness. By building on the good will and patronization of local Hudson businesses and residents, Hoboken and the local areas will become nationally recognized as a place to live, work and enjoy.
- Hoboken’s population prides itself on having big city opportunities with small town values. We are relying on this aspect of the Hoboken culture, where Hoboken residents tend to support Hoboken initiatives and activities.
- Partnering with other web sites and businesses is an opportunity that will assist in providing widespread coverage including the often-understated word of mouth marketing, which we require.
Threats
- The economic climate will affect the need for our services. The improving economy is good and local residents and businesses have improved purchasing power. However, a serious recession will undermine our marketing efforts.
- Highly financed highly powerful media moguls.
- Our reliance on business partners to identify with the show, understanding its potential impact and their ability and desire to promote and market it.
- We will additionally be threatened by our reliance on the business customer reputation and commitment to customer service. Any damage to their service commitment and reputation will have a direct impact on our reputation.
- Existing television shows, in the same time slot as well as other Internet sites will be a constant threat.
- Our reputation and the potential viewing population will be affected by our ability to produce quality and interesting shows.
Competitive and industry analysis
Our competition comes from larger established cable and Internet services. These competitors exist to provide information on a consolidated level by delivering services to groups of cities rather than marketing to a specific locality.
What distinguishes our company from others is our focus on Hoboken, it citizens and the businesses that serve them. Currently, there is no other television show being produced that specializes and is dedicated to highlighting all that Hoboken has to offer. The purpose of the show will be to feature segments on entertainment, human interest, food, history, health and fitness, politics, education and government. The goal of the show is to highlight Hoboken landmarks, hidden gems, and treasures.
Hoboken Happenings will offer its service via WMBC-TV 63. It will be part of a cable station that will offer community, ethnic, Christian and children’s programs. Capitalizing on the eloquence of a local native, Carmelo Garcia, as the show’s host, will bring a cadre of resources, which will be fundamental to the initial start-up of the television show.
In addition, Hoboken Happenings will a create collection of products with the show’s logo to be used for contests, promotions as well as direct sales. These products include:
Keys to success and critical issues
A major key to our success will be to establish a reputation as knowledge providers of information to our local areas. Both the cable television show and the web site provide an insightful, concise and thorough expose of Hoboken and the local business.
A second major key to our success is our relationship with our sponsors in terms of quality and price. Businesses who deal with Hoboken Happenings know they are getting a good service at a fair price. The immediate exposure to 58,000 Hoboken residents and potentially 3.8 million viewers is the carrot to realizing the revenue that is expected to be generated.
Our success is dependent on our ability to execute our plan and to meet or exceed business partner expectations; to consistently provide sophisticated, interesting television programming and specifically meeting the following criteria:
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Timing the kick-off of the television show and its accompanying Internet site. It is crucial that the event be large enough to attract a minimum percentage of potential viewers. Additional follow-up campaigns must be consistent and continual until the market has been saturated with the news of the new cable television show. A high degree of professionalism and a dedication to the goals and mission is absolutely crucial and will make a significant difference in the success of the business.
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Opportunity: As the first company to provide service of this kind to the citizens of Hoboken, we have the opportunity to provide businesses with an additional venue to gain exposure to the Hoboken community.
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Flexibility: Providing timely news and information while adapting to the current and future market environment. There is an apparent rise in the number of couples purchasing property and deciding to remain in Hoboken instead of moving to the suburbs to raise families. As, baby boomers approach retirement age, their will be a significant increase in the aging and senior citizen population. Hoboken Happenings will have to stay abreast of the changing and emerging markets, possibly shifting the types of shows produced. While the productions will primarily focus on the 24-34 year old market, it may need to reduce production for that market and increase the production of family oriented shows.
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Pricing: The advertising pricing model is competitive with local market rates. This model will position us to be profitable at the end of year one. The pricing model will remain stable for the first year, but will fluctuate higher or lower depending on the viewer base created by marketing activities. Business partners will be willing to pay premium dollars if viewers can be looked on as potential customers.
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Technology: The production of the television show will be outsourced to Chloe Rose productions. Chloe Rose is an experienced firm and is highly regarded in the Hoboken community. The Internet site will be maintained and upgraded in house.
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Distribution: Hoboken Happenings will offer its service via WMBC-TV 63. We will be part of a cable station that will offer community, ethnic, Christian and children’s programs. Cable services will penetrate approximately 3.8 million households. An experienced sales staff, preferably experienced in radio and television advertising, will provide the promotion and sales of the television show. This staff will primarily be made up of Hoboken residents, those who are either native or longtime residents of the community. Hoboken is a small town with small town values. It is believed that business customers would respond to someone who is local to the community rather than an ‘outsider’.
ENVIRONMENTAL ANALYSIS
Macroenviromental factors
Our business faces several risks to its viability and success. They are:
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Business risk. Our reliance on local business very high. There is a risk that the potential business partners will not support the idea of the television show for various reasons, including a lack of belief that its impact will not be strong enough to provide the business community with an additional resource to communicate business services. Additionally, business partners may not accept responsibility, or aggressively promote and advertise the production of the show.
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Financial risk. There is high risk that the capital raised does not cover promotional activities to keep campaigns running for 45 consecutive days. Initial projects and plans may require shifting. Generally shifts in plans require additional costs measures.
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Technology risk. We will rely on linking with other Internet sites where traffic is high and the potential to reach customers is high. There are no plans to pay to be a sponsored site by the search engines. We are taking a risk that the sites we link to, will provide enough traffic to drive Internet users to the site.
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Personnel risk. As a small entity, every employee will be a key player in the success of the television show. A high level of exposure will need to be consistently managed. For every aspect of the business, training and cross training must be managed effectively, in order to reduce the risk of being left without coverage. Commitment and dedication will be required of each employee.
Microenvironmental factors
- We will heavily rely on the expertise and reputation of Chloe Rose Productions. As an extension of our organization, their expert execution producing the show is a direct reflection upon us. If in anyway Chloe Rose fails to live up to its reputation or the expected level of professionalism, it will greatly affect our reputation. The viability of the show relies heavy on Chloe Rose’s ability to delivery its services. Their execution, good or bad will reflect on our business. We must proactively monitor the success of each production and continually canvas the industry for alternate solution providers in the event that Chloe Rose Productions are not meeting expectations.
- The show has to comply with certain media laws and regulations regarding its contents. If the FCC determines that our programming has violated any codes, we could be fined and/or shut down. If fined, the cost of the fine could be detrimental and put the organization in financial ruin.
- Another risk we may encounter, especially, if the success we anticipate materializes. That risk is that of another, larger well-funded organization may want to capitalize on the success of the show and attempt to create and promote a show similar to the one we’ve designed.
- There is also the risk that our analysis and interpretation of the demographics and current Hoboken market is flawed and overly optimistic.
MARKETING STRATEGY
The show Hoboken Happenings believes that the goal of businesses in Hoboken is to create an environment where customers are exposed to the products and various amenities their great city has to offer by marketing and advertising to customers. Our marketing strategy will reflect this goal as the show establishes its reputation in the city of Hoboken and the greater communities. The show's focus is to highlight as the model 21st century city. The expected primary viewer spends most of their time visiting Hoboken's beautiful waterfront parks, main street, cultural events, wining and dining in Hoboken's finest and hippest restaurants and bars. The show will offer viewers the opportunity to explore Hoboken's milestones, learn where to taste the finest food and wines, and listen to the great stories of its past time. It will provide viewers the excitement of being apart of the mile square city without the big city hassle of NYC. It will also offer businesses the opportunity to capitalize on an audience that is intrigued by Hoboken's rich history, for example the home of "Old Blue Eyes Frank Sinatra and the birthplace of Baseball. Hoboken Happenings will have everyone captivated by providing a show that will promote the benefits of its service to businesses and the community.
Mission
Hoboken Happenings mission is to become a media vehicle for city of Hoboken, its residents, the viewers and its businesses. Its purpose is to highlight Hoboken's natural treasures and unique composition to the citizens of Hoboken. Hoboken Happenings seeks to connect travelers, Hoboken enthusiasts, newcomers and old timers with the very fabric that has made Hoboken businesses thrive and flourish.
Marketing objectives
Our objective is to provide current news, history and public interest stories about and from the citizens of the Hoboken and surrounding communities and to become the market leader for merchants, entrepreneurs, businesses, the city and residents.
Financial objectives
Our financial objective is to become profitable in one year, achieve an annual financial growth rate of at least 10% by the end of year two.
Target market
Hoboken Happenings will target the following groups:
- Couples and individual homeowners and renter: This is the customer group that meets the demographic profile of customers that spend money in Hoboken -- ages 24-34, single or married, with household income greater than $75,000.
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Local businesses and corporate clients who have a stake in Hoboken: These are groups that belong to local community groups like the chamber of commerce, rotary club, hospitality association, community organizations i.e. schools, real estate commission.
- Hoboken Happenings advertising agent will target local businesses, government entities and the chamber of commerce in an attempt to secure corporate accounts.
Hoboken Happenings plans to focus its initial efforts on a network of local stakeholder in the greater Hoboken area. As Hoboken Happenings grows, marketing efforts will expand. The major prospects are located in Hoboken and representatives of corporate clients like the "W" Hotel, Toll Brothers, Coach USA, NY Waterway, NJ Transit, Bon Secours, Chase Manhattan Bank, Wiley & Sons.
E. Positioning
As a unique service to the Hoboken community, we intent to market the brand of the Hoboken Happenings show so that it can be easily recognized. We will use a marketing mix that will work for our initial target audience of 24-34 year olds as well as the projected family with children and Hispanic population market.
F. Strategy summary
The Hoboken Happenings strategy will communicate the benefits and opportunities that the television show will provide.
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Communication Develop shows recognition through the use of effective advertising, marketing communications and promotions. Our message will be to inform Hobokenites about the comings and goings of the city that they have chosen to call home.
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Timeframe In the short-term our strategy will to get the show and its accompanying Internet web site up and running without production glitches. Our strategy also includes promotions to gain visibility with our target audience.
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Target Customer Consumer Our initial target customers are young urban professionals age 24-34.
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Target Customer Business Corporate account acquisition. The corporate sales program will depend upon specialized literature and personal promotion. Corporate accounts generate recurring revenue and will help diversify Hoboken Happenings sources of income.
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Customer Experience Increase revenues by establishing package deals and allowing merchants to have their business become a segment on the show. By providing excellent programming, advertising revenue will increase and the customer base for those firms sponsoring the show will increase as a result.
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Competing Alternative There are well over one hundred television stations available to the television viewer. By limiting our view of the world, confining our product and uniquely identifying the market scope, we believe that our niche of this vast industry will be profitable and enduring. It is our hope and belief that the opposing competition will not be interested in this small market of the world.
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Resulting Experiences As mentioned previously, it is believed that by providing excellent coverage of news worthy events, local personalities and human interest stories, our business partners will be willing to pay advertising dollars to receive the outstanding exposure the Hoboken Happenings television show and web site will bring.
MARKETING MIX
Products, services, and experiences
The Hoboken Happenings Television show and web site will provide citizens and visitors of Hoboken, news, information, and historical facts about the town, in which they live, visit and enjoy.
Pricing
The advertisement pricing is competitive with today’s television industry for cable television. A $60-second commercial will cost approximately 900.00. The potential market reach is 58,000 for Hoboken residents and the larger viewing audience expands to approximately 3.8 million households for WBMC TV. The pricing strategy will need to cover the cost of production and advertising. The potential revenue for the television shows will be based on the business customer’s actual and perceived improved customer base and is subject to fluctuations.
Advertising options include:
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Running time per commercial spot @ 60 seconds, for a frequency of six airings once per week. These rates will be $900 per spot; a total six-week run will go for $5,400.00.
- Airtime will be available in 30-second intervals as well.
- The entire show with varying sponsors will generate $10,800.00.
- An entire show with one sponsor will receive an $800 discount, totally $10,000.00.
Promotion
Our promotional mix will be directed at creating a brand name,
bombarding potential viewers with the name of the show to create a word of mouth marketing blitz.
- Targeted Advertisement (“pull”)
The initial promotion will be a kick off campaign during the Hoboken Fall Art and Music Festival. It will include a booth along Washington Street promoting the new show. To attract customers to the booth, which will be decorated with a Hoboken Happenings signature slogan, there will be a high profile Hoboken native entertainer (Joe Pantoliano of the Sopranos), city officials, and music. Additionally, the following will be used as giveaways during the promotion:
There will be a sign-up sheet to receive additional information about the show and a corresponding contest to win the above jacket. This will be the initial drive for a membership mailing list, name, address and most of all email addresses. The email list will be used to promote the show, sending notices of upcoming shows, date and times of important promotions as well as coupons for the advertising businesses.
High Profile entertainer $5,000. [Celebrity]
Flyers $1750 [printer]
Banner $550 [bannerads]
Promotional Items $2500
The print campaign will include:
- Advertising on the side of the local buses that move throughout the city. 3000@ month for 6 months for the fully painted bus advertisements [Academy]
- Posters and miniature post cards of the posters. The posters will be placed throughout the city and in the windows of local businesses. The post cards will include airdates and times. $800 for 100 posters [printer]. May print more than one time, different posters may be used. This is to supply the businesses with posters for windows.
- Street sized banners will be draped across Washington Street to communicate and inform the citizens of Hoboken about the show and developing web site. $550 @ piece would like 3. One to drape across the Hoboken City Hall. Two to cross Washington Street. [bannerads]
- Advertisements will be taken out in the local papers, i.e. Hoboken Reporter, and the New York Times. New York Times ¼ ad, on Sunday, one run, $34,000, Friday, $28,822.
- Radio Spots on AM stations will be used as a separate campaign in conjunction with a high profile guest on the show. [Profit]b
- The television show will promote the web site and its connection to the television show.
- Linking with high profile Internet sites will be utilized to direct surfers to the show and to the streaming videos of the local businesses that are highlighted.
- Kiosks will be utilized in high profile areas such as the Hoboken Terminal and the Hoboken Ferry. App @ 3200,00 [Kiosk]
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Pop-up ads may be used when a search is done on Hoboken, New Jersey or when someone accesses the town web site, Hoboken.Org and the ever-popular Hobokeni.com. By partnering with Hoboken’s two most popular Internet sites, a link on their web sites will provide for additional exposure through their sites. Hobokeni.com’s pay-for-placement with Google, may be an added draw for Hoboken Happenings. When web site surfers search for television shows and the like, it may see in its result set, Hobokeni.com/HobokenHappenings.com.
- Coupons for the sponsoring businesses will be available for retrieval via the web site.
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We will promote our service by utilizing the business partners to encourage customers to view the show
- by convincing businesses in the local area to air the show in their establishments
- By keeping businesses current with the latest print campaign advertising the upcoming coming shows.
- Coupons – the television show will push viewers to the web site in order to receive coupons from business highlighted on the show.
Channel
Hoboken Happenings will focus primarily on nonpersonal communication channels such as major events like the Hoboken Arts and Music Festival and major media, such as newspaper ads, signs, posters, and banners. However, we will additionally use the personal form of communication by utilizing the business sponsors and encouraging them to create word-of-mouth campaign by promoting the show and airing the show on the premises.
Service
The credits from the television show will provide an Internet web site in order for viewers to retrieve information about the show and the businesses highlighted, Customer service will be also be provided on a rotating basis from all members of our small employee base. The team will provide information to customers who call in with questions about programming or information they may have seen on the show as well as facilitate the resolution of customer complaints and queries. The team will direct viewers to the web site for future reference.
Calls will be monitored to determine if there is a reoccurring subject matter being identified. Our ability to be responsive and professional when dealing with the call-in viewers is as critical to our success as the marketing campaign. Word of mouth is a strong tool and the better we can interact with the viewers, the more positive their experience will be.
Internal Marketing
The success of Hoboken Happenings depends on the success of the employees. We are a small organization and the input of everyone is critical. We will draw on the experience of each individual, utilizing and integrating the skill sets of each. Motivation is a key feature and bonus incentives will be developed to create a competitive atmosphere among employees.
Business advertising sponsors will be our primary source of revenue and a highly motivated and sophisticated staff is the backbone of our organization.
MARKETING RESEARCH
This plan is based upon census data, WBMC Cable Television data analysis, and advertising industry sales analysis and information from the Division of Human Services, Hoboken, NJ.
FINANCIALS
Sales/revenue forecast
Our plan assumes solid growth in advertising sales as the awareness of the television program increases. As more viewers become aware of the show, we will increase efforts to attract advertising revenues through the push/pull strategies outlined above. Through the success of the show we will realize improved revenues.
From the results of our analysis, the plan reflects growth in the first year. Sales and Net profit remained constant. Hoboken Happenings seeks to keep a steady flow of minimum expense as they maximize the growth prospects. The chart below depicts the relationship of expense to Net Projected Income.
As greater awareness is gained through diverse marketing channels, many avenues of potential sales would be exploited for a greater profit margin. The resulting data collected indicates that with an aggressive marketing strategy this project can generate annually $ 289,340.00 dollars in net sales. In the first year as expenses and revenue are collected and reported within six weeks of production, we anticipate a periodic out-flow of cash in the amount of $ 90, 198.75 for overhead purposes. Matching Revenue to cash out-flow, the in-flow to be realized would be $ 161,167.50 dollars. What is relevant here is that for every $ 1.00 invested in the project an earning of
$1.80 is realized. The chart below is indicates that percentage wise
expense in the first year is higher than the return. We find this to be truthful because of the aggressive marketing strategy.
The ratios analysis conducted for the purpose of capturing succinctly the growth prospects of the project were the Net Profit
Percentage, which provided for us the measurement we needed to assure profitability. Comparing net sales after expenses, labeled as revenue and matched it against sales after allows, the resulting figures were positive for implementing Hoboken Happenings. Even-though the project seems possible in the first year the operating percentage made us a little skeptical of the first years’ implementation. The total operating expense was $ 721,590.00. The ratio analysis for total expense to net sales was 56 % when total expense was compared to net sales. The allowance percentage was 10% when total annual allowances were compared to net sales. Return on investment (ROI) was below 100 %. This is low but reflects a positive return actually is based on the premise that
that an aggressive approach to cost management, combined with an effective interactive marketing strategy, the Hoboken Happenings projected ROI would be 79%. This is low but reflects a positive return based on the premise that Hoboken Happenings will minimize minimizing its cost of investments. Depending on the marketing plan to push and generate avenues, an aggressive sales pitch is also factored in Hoboken’s Happenings marketing strategy.
Marketing Expense Budget
The production and marketing expense budget for the project is paramount to the success of the show. We want to implement the project and become successful by keeping costs low. Therefore the expenses budget is kept steady for the first year of operations. The chart below represents the overhead for the first year of productions. The variations on the chart represent the cost for various fixed cost items for advertisement, productions and technical support.
The chart also indicates that all budgeted expenditure is kept below two hundred thousands dollars ($200,000.00). In the next two years Income and expenses are expected to spike slightly, as a direct result of our aggressive growth plan. During this interval, we anticipate higher returns. The chart below provides a visual effect of the same.
Marketing expenses will be high the first year, stabilize the first half of the second year and become lower in the third year.
Break-even analysis / D. Profit and loss analysis (Please see excel spreadsheet for details.
In the first few weeks of operation no income is realize, however midway into the reporting cycle, the Web site and other push marketing activities would cause revenue to spike high above the income level.
The most important assumptions crucial to our success are:
Investment Assumptions:
- Initial investment from founders = $350,000
Key Sales Assumptions:
- Year two sales will increase 100% over year one
- Every show will have full advertising sales
Key Staffing Assumptions:
- Employee base will be the 7 founder partners and two key sales people
- Chloe Rose production contract will remain stable for 3 years
5.0 Controls
As Hoboken Happenings is a new cable and web service, we are planning control activities to evaluate our customer service and technological infrastructure. This will allow us to respond efficiently to any problems that could happen. We are also watching customer satisfaction early and through the course of our startup, for any signs that our advertisement margins are eroding or our customers are dissatisfied with our product. Furthermore, we are tightly controlling marketing schedules to make sure our programs are available and on time.
5.1 Implementation
To monitor the success of Hoboken Happenings, our marking plan will include a detailed project plan based on a six-month analysis for each cable/web milestone. This will allow us to trail and synchronize our resources as they relate to our original plan. Our plan is an overview of milestones in conjunction with the needs and task activities as they relate to our company’s implementation script. Included in the plan is a rundown of the cost to bring Hoboken Happenings on board. Specifically, the plan is as follows:
To implement our plan we have built a solid organization around five major areas:
- Marketing and Sales
- Administration and Finance
- Account Management
- Information Systems
- Legal Services
Information Systems Division: This unit consists of the key in house personnel to manage the web site. They will design and develop the Hoboken Happenings web sites. They will ensure that the web site is supported 24/7, test against it, and provide feedback to the marketing team. The team will also update the web site daily.
Marketing Division: The effective marketing of the show and the associated services to the general public will be the responsibility of the Marketing and Sales Division
Administration and Finance Division: Standard administrative and financial activities will be the responsibility of the Administration and Finance Division. This will include the handling of all correspondence with customers and local businesses including collection of sales.
Account Management: This department will handle client’s account and schedule airtime, web advertising etc. They will be attuned to clients needs and facilitate resolutions if the need arises. It will process and oversee customer transactions and ensure customer satisfaction.
Legal Services: Legal services will be outsourced. The selected law firm will provide sound, experienced advice that helps solve complex legal issues that may arise.
5.2 Marketing Organization
Hoboken Happenings was founded 7 months ago by CEO Carmelo Garcia (the “mayor”). His executive team consists of President Karen Rucker; Emerson Deline, Chief Financial Officer; Ravinder K. Pal, CIO of Technology; Maryian Michail, Chief Marketing Officer; Ceres Martin, Vice-President of Technology; and Marshall Toledo, MIS Director.
As growth occurs, Hoboken Happenings will hire a Marketing firm to handle mass cable and online media advertisements. The firm will prepare sales material to support our service and advertisement campaigns. The projected PR Company will ensure quality of operations and distribution for the reputation and image of Hoboken Happenings.
5.3 Contingency Planning
Hoboken Happenings has prepared a contingency plan if there is a severe downturn in the local economy. This may be the result of market forces or competitor price reduction in media or advertisement costs.
Our incident plan calls for promotion items to be executed on a short-term basis in both Web and Cable outlets. This will allow us the time to secure market share while still maintaining a profit base. Also, should our technological infrastructure be affected by disaster, Hoboken Happenings has confirmed that backup services are in place to safeguard against off-air transmission emergencies.
References:
Celebrity:
Kiosk:
Profit: www.profitguide.com/howto/ article.jsp?content=20031216_165108_3576
Academy: Academy Bus Service, 111 Paterson Avenue, Hoboken, N.J. 07030
Phone: (201)420-7000 or (800)442-7272 Fax: (201)420- 8087
Reporter:
Census: U.S. Census Bureau,
Hoboken:
WBMCTV:
Bannerads:
Printer: www.adcoprint.com