5. EDSR 06-12-2006 - Laserfiche WebLink

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W ^;~LF 1. Briefly explain your proposal. What do you think makes a successful marketing plan? A successful marketing plan is one that will provide the City of Elk River with a realistic and effective "road map" for achieving its Economic Development Objectives. To be successful, we believe that your plan must include these essential components: Situation Analysis: We will conduct primary and secondary research regarding the overall business climate, the economic development "industry," your primary and secondary markets, competitors, clients and prospective clients, and your own organization. This stage of the project will include meetings with EDA members and City staff, interviews with clients and prospective clients, and the collection of secondary information regarding the business climate, industry, market, competitors, clients and prospects, as well as a SWOT (strengths, weakness, opportunities and threats) analysis of your own organization. ^ Objectives: We will meet with EDA members, City Staff and other City officials as required to develop a complete understanding of your Economic Development Objectives. ^ Strategies: In light of your Objectives and the Situation Analysis, we will formulate and recommend high-level Marketing Strategies designed to achieve your economic development goals. ^ Tactics: We will develop and recommend specific Tactics designed to implement your Marketing Strategies. These Tactics will include specific action plans with detailed budgets and schedules. (Although it is beyond the scope of this proposal, as afull-service marketing and communications agency, we are also well-equipped to implement the chosen Tactics on your behalf. We can seamlessly take your plans from concepts to reality.) ^ Tracking: The City has done an good job of tracking its results relative to its past Strategic Industrial Marketing Plans. We will continue and build upon those efforts. We will develop a set of quantitative and qualitative measures by which results can be measured. We will also help you to track results on an ongoing basis so that "mid-course corrections' can be made if there are changes to your Objectives or to the business climate, the industry, your markets, your competition, your clients and prospects, or your own organization. The Importance of Research Although all aspects of the Strategic Marketing Planning process are necessary, we believe that the research component -the Situation Analysis - is perhaps the most vital. No one can develop a relevant marketing plan in a vacuum. It is crucial to gain a thorough understanding of the overall business climate, the economic development "industry," your markets, your competitors, your clients, your prospects and your own organization. Only by considering your Objectives in light of that data can we formulate effective Strategic Industrial Marketing Strategies and Tactics. WOLF MnRtcErtNG & MEDIA is exceptionally well qualified to conduct that research. We have completed extensive research projects for numerous clients, including economic development agencies (Wright County), architects (Walsh Bishop), contractors (Stahl Construction, Rochon Construction) and others. These projects were completed using precisely the same interviewing methods that will be required for your project. We have the training and experience you need to obtain meaningful data -and we will pull no punches. We will share all the data, both positive and negative. WOLF MARKETING & MEDIA LLC, 18300 MINNETONKA BLVD., SUITE 208, DEEPHAVEN, MN 55391-3272 PHONE (952) 960-1 423 • FAX: (952) 960-1426 • WWW.WOLFMARKETING.COM