Stage 2 - Pre-Marketing Research Template.docx
Market a Product or Service, Lunchtime at the
LaundromatPre-Marketing Research Template
Analyze the Market Using the project resources, identify and
analyze critical elements of the market surrounding Drip & Dry
as a business. As you read the materials, take notes here on the
follow key questions:
Who are Drip & Drys current customers? What do their
customers need? Which needs are met through what Drip & Dry
offers? What are Drip & Drys primary market segments? Are there
new customers they can attract? Pay attention to Portland, Maine
census data and the factors that lead to a successful
laundromat.
College students and renters who dont have washer and dryers in
their homes. Fast efficient washer and dryers at a low cost. The
low cost to wash and dry their clothes. Age 18-25 is 40%, 26-35 is
25%, 36-50 is 15%, and 20% is 51 years or older. In 2013 66,318
lived in the area. 96% was urban, 4% was rural. The population
change since 2000 is +3.2%. Yes there are new customers they can
attract with the many services they provide.
What are Drip & Drys strengths and weaknesses as a company?
How do customers perceive the company? Based on what you know about
Drip & Dry and its surrounding context, what are the potential
opportunities for the company and what are some potential threats
to Drip & Dry? Pay close attention to the map of Portland and
information on the local restaurant scene. Take note of other
restaurants and laundromats near Drip & Drys location.
They identify with people who are most likely to use their
services. They are conveniently located in the rental community.
(weakness) High cost of facility, little or no profit for first few
years. 60% of customers are satisfied. (Opportunities) other
facitlies are expensive, loyal customers, high demand for service
due to location. (Threats) a lot of competitors in the same
business with the same service. Advertising to a larger audience. A
new facility opening up in the same area.
What is the proposed idea for new food offerings? Who might
Carrie and Fred need to collaborate with in the business community
in order to make the proposed idea a reality?
Healthy menu optionsSubway or jimmy johnsLocal restaurants than
can pre-make foodCaf ole- primarily Mexican foodCoastal
cateringSlammin sandwich shop
Who might Drip & Drys competitors be in the area? What are
their strengths and weaknesses?
Lake effect Laundromat- provides his customers with full-service
coffee bar and bistro, and in the winter they offer several hot
chocolate options. They have a great menu for desserts.
Weakness- having two employees scheduled at one time. Equipment
costs are expensive. Small facility.
Spin Cycle their menu items can be ordered in several different
ways. They have a liquor license (the only one). Offers special
events on a nightly basis.
Advertising for Friday and Saturday is costly; know who your
customers are for certain events.
What are the potential marketing channels that are available to
promote Drip & Drys offerings? Which channels are likely to be
most effective and why?
College students- flyers on campus to advertiseEstablish
relationships with local colleges in the area and present what
services are being offeredTv ads, magazine and newspaper adsSocial
media posts community bullentin boards, radio aids printed
flyersKnow your audience and advertise to them
What are the digital tools that Drip & Dry can use to market
the offerings? Which tools seem most appropriate and why?
Internet Facebook, twitterFacebook because it most popular tool
for communication and can be used to advertise
Bill boards on bus stops and on the high way
What funding is available to market the offerings? How should
the funding be allocated to support the marketing efforts?
The owners used savings and borrowed money from lendersThere is
20,000 to advertisePurchase a highway bill board, so drivers can
learn about the business. Take out radio ad, tv commericals, sent
flyers to local residents by mail.
How have other laundromats diversified their offerings? What are
their additional offerings? What has made them successful?
Art exhibitionsDog wash servicesLive entertainment Standing out
above the competition Making smart business decisions
Copyright 2014 College for America at Southern New Hampshire
University. All rights reserved. PROJ-35974
