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Ingenious Africa Media Business Plan
 

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INGENIOUS AFRICA MEDIA
ADVERTISING AND MARKETING BUSINESS PLAN 




Sample business plan
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2.1.3    Segment Attractiveness Assessment
The segment attractiveness assessment is aimed at determining or selecting a lucrative market segment for Ingenious Africa Media. The assessment is based on key factors such as the growth and growth potential of the identified segments. Other factors taken into consideration pertain to the profitability, size of the segment, risk and competition.
While the number of emerging bed and breakfasts is increasing, they have limited budgets for marketing and advertising. Lodges are slightly more attractive as compared to bed and breakfasts in terms of the marketing budgets that they have as well as their presence in more than one city.
In terms of profitability, hotels are more profitable to market; however, their needs and preferences with regard to advertising and marketing are more complex to satisfy as compared to bed and breakfasts and lodges. An advertising agency focusing on hotels would require advanced skills, competencies and expertise in order to provide strategic marketing consulting as well as develop rich multimedia. They have extensive budgets to meet these advertising needs making them an attractive segment to pursue. The number of hotels being established is growing making this market segment even more attractive to target. Game reserves are a profitable market segment as they essentially have lucrative budgets for marketing and advertising. They do however focus on cause marketing in which awareness building focuses on promoting the benefits of the natural environment – an advertising agency focusing on these would therefore need the relevant competencies and skills to assist with cause marketing. Tourist information centers and authorities are an attractive market segment to target. The main downside is that most of them have their own in house marketing and advertising professionals and only seek external assistance for highly specialised and complex marketing and advertising solutions. 

2.1.4    The Target Market
The selection of a profitable target market for Ingenious Africa Media is based on the segment attractiveness assessment. The target market for the business will cover bed and breakfasts, lodges as well as small to medium sized hotels and other resorts. Additionally, the business will also offer its services to small to medium sized transportation entities, travel agents and tourism information centers, golf estates, museums and heritage sites.



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