Marketing Management Internship Project
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Transcript of Marketing Management Internship Project
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Project Summary
• Current Benefits• Conceptual Ideas• Timeline• Financial Impact• Risk Analysis• Pros and Cons
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Through increased awareness of our membership benefits among associates, current members, and prospects, we intend to grow our membership base and increase retention rates.
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Membership Loop
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Tire & Battery Center
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Tire & Battery CenterBecause you are a member, did you know that our tire and battery center offers free: flat tire repairs, battery checks, air pressure checks,
and tread depth checks.
0%10%20%30%40%50%60%70%80%90%
100%
8170 6663 6667 6319 6412 6313
MemberAssociates
Average Member 31%Average Associate 77%
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Tire & Battery Center
Current Benefits• Free flat repairs• Free battery check• Free air pressure check• Free tread depth check
Conceptual Ideas• Wheel alignment equipment- Offer free alignment when
upgrading to plus or renewing
- Offer an (e value) $10 off prior to a purchase of 4 new tires
Timeline• October (fall season)
-Promote winterizing
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If Sam’s Club offered Wheel Alignments as a service to the tire/battery center,
would you take advantage of it?
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100%
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MemberAssociates
Member Average 84%Associate Average
83%
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Impact of Wheel Alignments
Pros• Competitor driven
(COSTCO)Long- term profit by:- Increase member
satisfaction- Increase plus
memberships
Cons- Starting cost
(equipment and certifications)
- Not enough space - Labor wages
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Tire & Battery Center
Alignment Financial Impact• Equipment $38,000• $452 amortization per
month for 7yrs.• $30 align. cost * 80
expected monthly align. = $2400 PROFIT
• $2400 – $452 = $1948 PROFIT per month
• Associate state certification cost $27
Risk Analysis• Safety/Physical liability of
associates• Increase liability
insurance• Significant financial risk
due to lack of sales
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Jewelry
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JewelryWould you take advantage of our Jewelry dept. if we offered: ring cleaning and adjustments?
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Members Associates
Member Average 53%
Associate Average 56%
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Jewelry
Current Benefits• 1 & 2 yr. warranty• 100% refundable• Plus Membership
additional yr.
Conceptual Ideas• Ring
Cleaning/adjustment• Host education classes • Make cost comparison
sheets• Demo fragrance
Timeline• February & December
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JewelryFinancial Impact• Total Cost of Hosting Educational
Classes – minimal• Total Cost of Cost Comparison
Sheets – minimal• Total Cost of 2 Fragrances Demoed
over a month- $48.00• Expected Sales – 17 bottles @ • 10 bottles x $34.67 = $346.70 • 7 bottles x $36.27 = $253.89• Total Expected Sales = $600.59• Total Profit = $192.24 • Total Profit / Total Cost = ROI• ROI = 300%
• Total Dollars = Total Profit – Total Cost $144.24
• *Total Cost of Demo Cart = $150.00 initial fee
• There will be a small loss on the first use of the Fragrances Demoed, however, the SECOND time and beyond these numbers are accurate.
Risk Analysis• Hosting class (low)• Cost comparison sheet (low)• Fragrance demo (moderate-high)• Ring cleaning/adjust. (extremely
high)
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Impact of Jewelry Benefits
ProsFragrance demo• Increase sales• Member satisfaction
Educational Class• Informative• Test pilot for other
departments
ConsFragrance demo• Safety Issues• No profit
Educational Class• Ineffective
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Cost Comparison Sheet
Jewelry Cost Comparisons - Example
Item Competitor Price Our Price Savings
.75 ct. t.w. 14K White Gold Diamond Studs $3,400.00 $ 1,104.00 $2,296.00
14K Gold Freshwater Pearl Earrings 6.0mm
$85.00
$27.88 $57.12
.20 ct. t.w. Black & White Diamond Pendant
$600.00
197.12 $402.88
Total Savings $2,756.00
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Conclusion
We hope that because of our dedication and research that these ideas will be considered as a future reference to bring in new members and enhance the shopping experience of our existing valuable members.
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