Business Plan INSIGNIA SYSTEMS

Insignia Systems, Inc. Business Plan

The Business Profile: Insignia Systems, Inc.

Business Description

"Insignia Systems, Inc. markets, sells and supports in-store advertising and promotional products, programs and services designed to provide retailers and consumer goods manufacturers with highly effective in-store programs and point-of-purchase display materials" (Insignia Systems, 2012)

Insignia is engaged in advertising to customers in a retail environment who may otherwise not see the product advertised. One of the slogans that the company bases its success on is the empirically stated fact that "Over 70% of all brand purchase decisions are made in-store?" (POPAI, 1995). Due to this fact, Insignia works with retail stores to create a vision of how they will market their unique products within the store.

Insignia Systems also works as a consulting firm to retail businesses with regard to in-store promotions that allow customers to accumulate award points or show their loyalty, and be awarded, in other ways. The focus of this type of marketing is to get the customer back into the store so that they can continue to make buying decisions that grow the store and work for the customer.

The company has four separate divisions that are engaged in different modes of in-store, retail marketing. According to the company website the POPS division is "a product- and account-specific, in-store advertising program. POPS program signs combine vital product selling information and images from consumer goods manufacturers with retailers' logos and current store prices to produce a powerful shelf-edge sign that delivers a complete "call to action" at the point-of-purchase" (Insignia Systems, 2012). Another important function of the retail in-store marketing experience Is being able to mark over stocked or impulse-type buys with the appropriate signage. Insignia allows the customer to do this with a professionally designed sign maker, which shows the customer that the store is professional in every way. Another division that is important to customers is the production of Stylus software that allows the customer to create signs and displays with a computer or a tablet. Insignia systems also has a media division which "offers laser media printable supplies, such as cardstock and vinyl labels, in sheet-fed form for use in laser printer applications. Our media provides our customers with sharp, quality images resulting in outstanding performance. Insignia also provides a variety of colors and sizes to fit all of your signage needs" (Insignia Systems, 2012). These divisions, the sales department and the consultation team work with customers to determine what their needs are, find a solution for that level of marketing.

As of right now, Insignia has plans to move into the Canadian market and is tailoring its product offerings for that region. The present efforts of Insignia Systems in POP and other forms of direct, in-store advertising will remain basically the same in this market since it is roughly equivalent to that in the United States.

Targeted Market and Customers

Retail stores too often rely on the customer to decide what they actually want when they walk into the store. The reality is that customers often either forget that they need a particular item, or they are busy searching for something specific and do not see that certain items might be useful also. Therefore, the marketing platform of the company is to make sure that every customer who walks into a store that has been serviced by Insignia Systems, knows exactly what is available to them, and that they also realize what sales are ongoing, what products have been reduced in price, etc. To make sure that the message the sales associates are giving to the customer is enhanced with collateral information.

Large multinational businesses often have a marketing department that assists them with in-store product placement and helps to determine where the best areas to place signs would be. Unfortunately, small to medium sized retail establishments do not have the luxury of large marketing departments that are dedicated to this area. Thus, the marketing strategy of Insignia Systems, and the customer base, comes from these small to medium sized businesses that are unable to afford a separate department, but can afford to outsource or hire a consulting firm to help them with product and advertising placement.

A section below is specifically dedicated to how the customers in the Canadian market will be targeted, but there should be little that changes. Canada had many smaller retailers that would benefit from the products currently being offered to the U.S. market. However, a market survey must be conducted to determine what differences do exist, and see if they can be exploited for use in the expansion of services.

Growth Trends in this Business

The main issue that has retarded growth in this industry has been the growth of internet...

Many companies who do POP sales also help companies conduct online marketing campaigns, but that is not the focus of Insignia Systems. The POP business has seen a slight uptick in business over the past four quarters as Insignia's target customers rally from the economic downturn. The growth model is in signing up more businesses to become partners in point-of-sale-purchasing. The trend is upward right now, but it is a slow growth trend at the moment.
The primary method for continued growth right now across the industry is through expansion of opportunity. It seems that the market in the United States is well saturated with companies that provide similar services to Insignia Systems. Since this is the case, it is necessary for the company to pursue a growth model of expansion into other markets. The Canadian market is largely untapped as far as specialty POP businesses are concerned, which makes it a perfect arena for initial expansion as a test market.

The Business and the People

Vision

The stated mission of the company is to "help our customers compete more effectively by providing the finest in-store promotion tools available. We aim to be the most respected in-store promotion company in the world" (Insignia Systems, 2012). This aim is fostered by a group of core values that complete the vision of the company for its employees and customers. Namely that, "Insignia is built on a foundation of respect. We respect our customers by providing truly great products and outstanding service. We treat our customers as we would our best friends" (Insignia Systems, 2012). This mission and set of core values applies to every single employee of Insignia Systems, and the company works to make sure that every employee and every customer feels that they have been treated with respect; that the employees perform at a high level for the customers, and; that the customers feel that they have gotten service that cannot be compared to any other company in the industry. This will not change due to any growth efforts of the company. The customer will always come first.

Employees

The company is always looking for employees who will exemplify the values and vision of Insignia Systems. The company states that it "Is seeking motivated and enthusiastic individuals with a dedication to success. As part of our team, you will benefit from a competitive salary, a comprehensive benefit package, a 401K plan, an employee stock purchase plan and an energetic work environment with opportunities to grow, learn and have fun" (Insignia Systems, 2012). Employees at insignia systems work in a team atmosphere to design the best solutions for customers, develop software and other products that set the industry standard, and consult with customers to design the best possible solutions for their advertising problems.

Because of the growth model of Insignia Systems, the company is now accepting applications for its Canada offices. This expansion will give the company the ability to glean even more experienced and knowledgeable employees from the region. A campaign is being implemented which will see Insignia in jobs fairs and other similar venues to promote the company and seek those desiring employment in what promises to be a growth industry.

Communications

In-company communications equipment consists of cell phones and walkie-talkies that allow teams to speak to one another and managers quickly and efficiently if problems arise. The company communicate with its customers via all media types that are available. Customers, potential customers and the general public can contact the company via the website by sending a direct email, to the company and receiving either an email, phone call or letter in reply. The company also has access via social media and plans to provide more marketing for this venture in the future.

The venture into Canada will require that quicker communications be established between the office in Canada and those in the United States. This means that direct access will be employed so that customers have a 24-hour hotline that they can call with any questions, complaints or questions. Also, Canadian employees, especially management, will have direct access to the main headquarters any time of the day or night. Call center employees (this service will likely be outsourced to a company specializing in this service such as Call Center Services, Inc. As a less expensive alternative) will be directed to contact the necessary party within the company if…