Management of Small Business

Knoxville TN Security Company’s target demographic encompasses celebrities, diplomats, corporate leaders, banks and shopping centers. My business provides companies with the armed security officers, bodyguards and monitoring systems needed to secure the customer. We advertise our services through a variety of channels, such as social media, TV advertisements, print advertising, radio ads and brochures. In social media, we have a Twitter account and a Facebook profile where existing and future clients can inquire about our services (Vorhies, Morgan, & Autry2009). The qualities which make us a better option than our rivals is the fact that the client can negotiate the charges of our services i.e. our prices are not fixed.
The core competencies of the company include:

Possession of the current surveillance and alarm systems

The company has well-trained security guards/ body guards with combat experience

The company also has trained guard dogs for enhanced security

We also provide security against cybercrimes such as hacking

Knoxville TN plans on maintaining good customer relations by asking for referrals from happy clients. The company aims at forming networking groups with other companies which provide services to our target market. These include chauffer companies, landscapers, cleaning services and building managers. The company also utilizes it social media presence to attract new clients and maintain a good relationship with the currents ones. There are personnel who make sure that they reply to questions posted by the public about the company on social media and offer explanations where customers need clarity. The company also follows our clients’ social media pages to foster stronger relationships.

Advertising Section

For the newspaper ad, we are going to use the New York Times which has audience of about 1.12 million readers. The cost per ad is $1190. We are going to place an ad once a week which results in $4760 per month. For the radio ads, we will spend $1500 per week which amounts to $6000 per month. The company also intends to spend $2000 per week on television ads which makes $8000 per month. For brochures, the company will spend $500 per month. The company will also carry out advertising which will not cost the company any money. Some of the vehicles belonging to the firm will have writings of the company’s services and contacts. We also plan to carry out volunteer programmes such as provision of free transport within New York City on the first Friday of every month. The company will also provide equipment for the school which wins the high school football and basketball tournaments in the city for their next season (Forsythe, 2005).

Budget Section

Total cost of advertising for three months is as follows:

Radio

television

newspaper

brochure

Total cost

Monthly advertising costs

$6000

$8000

$4760

$500

$19260

Advertising Cost for 3 months

$18000

$24000

$14280

$1500

$57880

The success of every marketing strategy will be measured by looking into the number of new clients that the company gains after each month. The popularity of the company is also expected to grow on social media if the marketing strategies used are successful.

References

Forsythe, C. B., & Forsythe, L. (2005). U.S. Patent No. 6,937,996. Washington, DC: U.S. Patent and Trademark Office.

Vorhies, D. W., Morgan, R. E., & Autry, C. W. (2009). Product‐market strategy and the marketing capabilities of the firm: impact on market effectiveness and cash flow performance. Strategic Management Journal, 30(12), 1310-1334.