Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a convenience store business plan, your marketing plan should include the following:
Product: in the product section you should reiterate the type of convenience store business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to regular convenience items, will you offer items such as grab-and-go food, or fast food?
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the product categories you offer and their price ranges.
Place: Place refers to the location of your convenience store business. Document your location and mention how the location will impact your success. For example, is your convenience store business located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers. Also, if you operate or plan to operate kiosks, detail the locations where the kiosk(s) will be placed.
Promotions: the final part of your convenience store business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Making your convenience store extra appealing to attract passing customers
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media advertising
- Partnerships with local organizations (e.g., gym members get a free cup of coffee with each protein bar they purchase)
- Local radio advertising
- Banner ads at local venues