Mission Statement

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Mission Statement

What's the "30-second elevator speech" you'd tell someone who asked what your company does? Include the main benefit to your customers as well as a description of your product or service.

For example, "Company A saves medical clinics millions of dollars by providing access to a centralized patient database." Or, "Company B designs flower arrangements at wholesale rates for weddings and special events." Remember, every person who receives your mission statement is a potential customer or partner. Keep your message short. Include the chief benefit your company provides that will encourage potential customers to ask for more information.

Here's a sample mission statement for Red Mountain Spa:

Red Mountain Spa is an all-inclusive resort that offers fitness adventures and healing programs to renew your mind, body, and spirit.

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Target Market

Describe your preferred buyers . To help you with this, look at your current customers (or those of your competitors , if you have a new business). Consider demographics such as sex, age, marital status, job title, and job industry, if applicable .

Also consider psychographics , which are the lifestyle behaviors and attitudes of your ideal customers. This information gives you an understanding of your prospects' potential buying decisions and patterns. Armed with this insight, you'll be better able to address any concerns or questions, and then guide shoppers through the purchase process. Psychographic questions include activities and purchases made in relation to business/education, health/fitness, and recreation/leisure.

Both sets of information are necessary in designing an effective advertising campaign. Your entire campaign would be dramatically different if you market a car to 16 ‚ 25 year-old men who play extreme sports, as opposed to 35 ‚ 45 year-old married women with children, who subscribe to parenting magazines. It's likely that you'll have multiple target markets.

The more you know about your ideal customers, the better you communicate with them and develop a relationship. Relationships are key to both initial and repeat sales.

One sample target market for Red Mountain Spa could be the following:

Women
30 ‚ 55 years of age
Subscribers of Body & Soul , Spa Finder , and Yoga International magazines
Working professionals in a corporate environment
Exercise 4 ‚ 5 times a week for health goals and to reduce stress
Participate in relaxation exercise such as yoga and meditation
Frequent patrons of day spas

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Unique Selling Points

What makes your product or service different, and better, than your competitors'? Consider product, price, and distribution factors. Is your product or service of higher quality? Is your price lower than your competitors ', or do you offer convenient payment terms? Do you ship your product in recyclable packaging material, which is better for the environment? Make a list of your unique selling points. Then prioritize them in order of their value to potential customers.

If one of Red Mountain Spa's customer groups subscribes to health publications and is already participating in stress-reducing fitness programs such as yoga, for example, then Red Mountain should emphasize their strength in this area, in terms of both their relaxing location and the services they offer (as shown in Figure 2.2). Considering their target market is already familiar with spas, Red Mountain needs to set themselves apart not only from other vacation resorts, but also from other spas.

Figure 2.2. Red Mountain Spa's fitness page showcases their numerous classes ‚ more than 35 offered per week.

Sample unique selling points for Red Mountain Spa include the following:

Location: Set in picturesque and serene red mountains of the American Southwest, 90 minutes from the Las Vegas airport
All-inclusive resort: Meals, health and fitness classes, healing programs, special events, and resort facilities
Number and diversity of fitness classes: More than 35 weekly programs including yoga and a gentle martial arts emphasis ‚ Yoga, YogaSpin, Pilates, Chi Ball Method, T'ai Chi