Marketing Plan

Executive Overview Formed in 2006, RentSpec intends to be the global leader of rental item directories, dedicated to satisfying consumer demand for efficient targeted advertising and rental item search ability.

RentSpec is a searchable database accessible via the internet comprised of profiles (listings) of items (equipment, vehicles, etc.) that are available for rent. Anyone who visits www.rentspec.com can search the database for free and sort the profiles by location, category, price, etc.

RentSpec’s income is derived in part from fees paid by rental providers who want to promote the rental of their items by creating a profile for each of their items and listing the profiles on the RentSpec database. Other income is derived from supplemental advertisers who buy sponsorships, banner ads, and mailing list in order to advertise to RentSpec’s user-base.

Market Trends Renting as an industry is growing steadily. Generating passive income by renting out items is a business model being adopted by increasing numbers. Simultaneously, many more are noticing a growing necessity to rent rather than buy the items they need. The factors contributing to this growth can best be credited to the relentless advancement of technology and the population’s growing financial education.

Technology is improving at greater rates than ever before causing old technology to become outdated in less time. The result is that there are fewer buyers of any one product before it is replaced by a new, more advanced product. Therefore, in order to cover costs, manufacturers must increase the purchase prices of their products in order to compensate for the loss in sales volume. Theses high purchase prices have created a market trend in which the handful of consumers who do pay the price premium to purchase the item often attempt to recoup their capital outlay by renting it to others who have a need for the item but choose not to buy it because of its prohibitive cost.

The growth of the rental industry is further explained by the growth of the financial education industry. As evidenced by the number of financial television shows produced and books published on the matter, financial education has caused many to appreciate the independence associated with passive income derived from renting. Thus a trend has formed in which a rising numbers of employees are becoming entrepreneurs by buying assets and renting them out.

However, before RentSpec applauds itself too much for capitalizing on such lucrative market trends, it is important that it consider a potentially negative market trend which may be brought on by its success. A negative effect associated with RentSpec’s success is that retailers and rental houses may suffer once consumers know they can find the items they need on RentSpec. Although, to keep this concern in perspective, similar fears have existed since the start of internet commerce and studies have shown that a large majority of consumers still purchase/rent based on brand rather than the lowest price available.

Market Analysis The purpose of this Market Analysis is to define the markets RentSpec will operate in, segment these markets by characteristics, then based on these segments, create a list of target markets RentSpec will direct its marketing strategies toward.

A) Market Overview: RentSpec has labeled and defined the three markets it serves and has summarized the need in each market for a rental item database like RentSpec.

Rental providers- individuals or companies who rent out items to renters in exchange for payment.

Individual or companies belonging to this market have either: 1. Bought an item with the intent of generating income by renting it out.

2. Purchased an item for personal use or business operations and later decided to generate income by renting it out.

3. Made an arrangement with the owner of an item to act as a rental manager for that item.

No matter how one becomes a rental provider, they all face the same problem: They must promote the item or items they wish to rent out or renters won’t know it can be rented from them. The need for RentSpec lays in the fact that most rental providers do not have the budget or the expertise to do so. In response to this need, RentSpec was created in order to be the ideal medium for rental providers to post item-specific advertisements targeted at renters. RentSpec accomplishes this by pooling the fees collected from rental providers and using them to promote the site as a whole which in turn promotes each individual item.

Renters- individuals and companies who have a need to use/rent items listed on RentSpec.

As a renter, renting an item makes sense when it is needed to get something done without adding to personal possessions, when the need for the item is infrequent, or when the purchase price of the item is high. Essentially, it means getting use of an item for a fraction of the purchase price of that item.

Renting as opposed to buying has another intrinsic advantage; generally, rental items are more powerful, better built and more thoroughly tested than equivalent products offered for sale to the average consumer.

However, in our world of imperfect information and communication barriers, without a database such as RentSpec cataloging rental items and their locations, the process of finding the rental items that suit one’s needs can be incredibly frustrating. RentSpec is designed to remedy this so that renters can find the rental items they need with ease, allowing them to run their companies and lives more smoothly and efficiently. *Even though renters will be allowed access to RentSpec free of charge, this market is essential to RentSpec’s success. This is because so much of RentSpec’s value to the income generating markets lies in the site being known to renters as “the best place to search for rentals”.

Supplemental Advertisers- businesses not in direct competition with RentSpec that would benefit from advertising to RentSpec’s user-base.

Item profiles are not the only way to advertise with RentSpec. The renters and rental providers comprising RentSpec’s user-base are also members of target markets for many other businesses. Since these businesses are constantly seeking ways to communicate with their target markets, RentSpec has made banner ads, sponsorships, and member email lists available to them.

These precision advertising tools fulfill the need for some RentSpec rental providers to promote their brand in addition to their individual items and allow other advertisers to contact the RentSpec users corresponding to their target markets.

B) Market Segmentation: RentSpec’s target markets are established by segmenting each of the above markets into groups of consumers with common characteristics. The following explains what method of segmentation is used in each market.

When posting an item on RentSpec, the item is required to correspond to one or more of the categories provided by RentSpec. Since rental providers that post items within a given category generally share attributes such as the industries they work in, media they are exposed to and needs when it comes to renting out items, RentSpec segments rental providers into groups or “target markets� which are likely to post items within a RentSpec category. The same is done with renters who are segmented into target markets likely to search for items within a category.

Segmenting supplemental advertisers by category would be inefficient since areas of the website with high advertising value to certain businesses would be overlooked. Thus, RentSpec segments supplemental advertisers by the industries in which they do business. These industries commonly share attributes like the typical content of the web pages they place banner ads on, the parameters of mailing lists they buy and the content of web pages they sponsor.

C) Target Markets: By using RentSpec’s categories to segment renters and rental providers and industries to segment supplemental advertisers, the following target markets are established in each market: Rental providers: -Air-Conditioning & HeatingBackground: Media Exposure: -Photo & VideoBackground: Rental providers in this category commonly work within the Film, Television or Print industry as freelance technicians, operators or producers. Others may be technophiles Media Exposure: Industry Publications, On Set Advertising, Word of Mouth, Local Industry Directories.

Renters: -Air Conditioning & HeatingBackground: Media Exposure:

Competitive Overview Renters, rental providers and supplemental advertisers have had to, until now rely on inefficient means of accomplishing their respective goals. As outdated as these means now are due to RentSpec, they must be viewed as competitors for as long as they siphon away the attention and discretionary income of RentSpec’s prospects. RentSpec must make prospects aware of the increased efficiency listing, searching or advertising on RentSpec offers. RentSpec’s competitors include: INNEFICIENT ADVERTISING Media vehicles selling ad space targeting similar audiences- Media such as magazines, journals, television, directories, websites, etc. who target the same supplemental advertisers RentSpec targets are in competition with RentSpec for portions of those businesses advertising budgets.

Strengths1. As a new company, RentSpec does not yet have the established reputation and audience other media vehicles who have been around longer already have.

2. To some, on-line advertising has a stigma of being ineffective.

3. Professional rental providers who can afford to buy traditional ad space may view it as superior to listings because it allows them to promote their brand rather than just their individual items.

Weaknesses & Opportunities1. By purchasing banner and skyscraper ad space in addition to listing space on RentSpec, professional rental providers can just as effectively promote their brand on RentSpec. Brand promotion can also be accomplished on RentSpec when Renters click on the “view other items listed by this rental provider” link.

2. RentSpec’s technology has the ability to target renters and rental providers with much greater accuracy than many other media vehicles.

Known competitors in this area include:  American Cinematographer Magazine- Film Industry related magazine.  Videographer Magazine- Video Editing, Audio, Lighting and Video camera related magazine.  All Other Competitors (listed below) Rental provider Directories - An industry or geographic area such as a city supporting a sizeable industry will commonly have a published or on-line directory identifying the individuals and companies servicing that industry. Professional rental providers with items relating to that industry are listed and often advertise in them, renters search through them and make calls in hopes of finding the item they need, and other advertisers pay to buy ad space within them.

Strengths1. Being listed in such directories is often free.

2. Since only professional rental providers are listed as rental providers in directories, professional rental providers may see their listing in the less cluttered space of a directory as having an advantage over paying to list on RentSpec and being grouped among indi-rental providers.

Weaknesses & Opportunities1. Individual rental providers have no voice in typical directories. They are commonly listed as industry labor and the rental items they own remain unknown to the renters using the directory. It is simply not efficient for an indi-rental provider to advertise in directories or for the directories to list everyone who owns rental items as rental providers.

2. The internet surpasses print in both speed and ease of use. RentSpec’s categorization and search ability makes finding the rental items renters need a much easier and more efficient process compared to flipping through print directories and making cold calls.

Known competitors in this area include:  Phonebooks Worldwide- In print and on-line  The Miami Production Guide- Local Film Industry production directory in print & on-line  The LA 411- Local Film Industry production directory in print & on-line

 The NY 411- Local Film Industry production directory in print & on-line  www.mandy.com- Worldwide Film Industry related production directory in print & on-line  www.kftv.com- Worldwide Film Industry related directory in print & on-line linking  RentalSite LLC- One of the more sophisticated on-line directories allowing renters to search for rental providers by category and geographic region (not post-code). In addition to well thought out categories, RentalSite has an impressive list of domain names that lead customers back to their website. However, the site is structured so that rental providers only list the name of their company and what type of items they rent. This hardly benefits renters as they still need to make numerous calls in order to find the specific items they are looking for. RentalSite seems geared towards professional rental providers and does not accommodate the needs of indi-rental providers. Lastly, RentalSite’s promotion efforts are limited to on-line advertising.

Other Rental Item Directories- Currently the only other competitors in RentSpec’s category of rental item directories are RentBay and www.kempsclassified.com. Since RentBay is not operational, we will focus on Kemps.

Based out of the United Kingdom, Kempsclassified.com is an offshoot of kftv.com, a free global film industry production directory. Kempsclassified works very similar to RentSpec in functionality and is considered RentSpec’s most analogous competitor in categories relating to the film industry.

Strengths1. Building on the name of the world known Kemps Production Services Handbook, Kemps lends brand name recognition to Kempsclassified.com and uses its website (kftv.com) as gateway to attract renters.

2. Confining itself to the film industry allows Kempsclassified to not only list items for rent, but also list items for sale and items wanted. This allows them to position themselves as the website for all film industry rental item needs.

3. Item searches can be filtered by the type of currency accepted by the rental provider.

Weaknesses & Opportunities1. Having launched in 2005, Kempsclassified does not yet have a large subscription base (173 items) and is for the most part confined to the UK. 2. Renters can only search for items via post-codes in the UK. 3. Categories are not nearly as exhaustive or detailed as they could be.

4. In order to pay for a listing, rental providers are directed outside of Kempsclassifid.com to a third party credit company website, giving the site an unprofessional feel.

At the moment, all of these competitors have greater market share and budgets than RentSpec. If they were to alter their products, service offerings or marketing, they could possibly pose a serious threat to RentSpec.

Potential competitors were they to some extent alter their products or service offerings include: Auction Sites- E-Bay, Yahoo, etc.

Classified Sites- Trader-Online, Craig’s list, etc.

Strengths, Weaknesses, Opportunities, Threats Strengths 1. RentSpec CEO; Leo Tamargo’s experience as a rental provider and numerous connections with renters and rental providers in the film industry are vital to the successful launching of RentSpec. His contacts serve as focus groups, will seed the directory in its early stages, and will be the source of an effective word of mouth campaign.

2. As an on-line company, RentSpec benefits from low fixed costs.

3. As an early adopter of technology, Leo Tamargo is excellent at keeping a pulse on what is new, innovative and efficient. By staying abreast of technology, RentSpec is expected to thrive under his command.

4. RentSpec is the pioneer of rental item directories. According to the 22 immutable laws of marketing, being first in a category often grants leadership of that category. Category leaders commonly enjoy solidified positions in the minds of consumers which are difficult for competitors to dislodge, and brand name recognition to the point that the leader’s brand name is often adopted as the generic category name (consider Tylenol and Velcro).

Weaknesses 1. There are currently no customer service or relationship management programs in place to deal with problems and maintain customers.

2. As a capital poor startup, RentSpec is forced to bootstrap which may make it difficult to meet all of its goals.

3. RentSpec’s management team has no experience running a business of this type. They are also not knowledgeable enough in web design to make significant changes to the website.

Since there is currently no web developer on staff, this could result in slower responsiveness to problems and suggestions as they come up.

Opportunities 1. In many industries throughout the globe, it is common practice to rent rather than buy items.

2. The growth of renters and rental providers in the marketplace can be stimulated by technological advances which make it more economical to rent rather than buy a piece of soon to be outdated technology, economic slowdowns which dissuade consumers from making large purchases, and the economic prosperity of industries who commonly rent.

3. The integration of new PDA, cell phone and mapping technology would add value to RentSpec users by making the site more accessible and useful.

Threats 1. Competitors with larger budgets upon seeing RentSpec’s success will attempt to push it out of the market.

2. The economic decline of any industry renting the items listed on RentSpec.

3. Something out of left field which we have not anticipated.

Goals and Objectives A) Sales Goals: RentSpec’s sales goals are to sell enough item profiles, banner ad space, sponsorships and mailing lists to cover the Fixed and Variable operating costs totaling $XX,XXX.XX associated with its first year of operation.

In order to meet sales objectives, we must acquire roughly X# of active listings per month.

B) Marketing Objectives: In RentSpec’s first year of operation, its marketing objective is to court the renters, rental providers and supplemental advertisers related to the US film industry.

The RentSpec categories associated with this industry are:

Strategies The strategies used to accomplish marketing objectives are as follows: A) Positioning: As the pioneer of a new category, RentSpec must position the concept of rental item directories in the minds of renters and rental providers as “the best method to find rentals” while at the same time positioning itself as “the rental item directory with the most utility.”

An indicator that RentSpec has accomplished this is the RentSpec brand having achieved dominant mind share so that it is associated with the entire category of rental item directories. For example, when an individual performs an on-line search for a rental item, he or she would be “rentspecing” the object. Or when inquiring how one went about renting an item an individual might ask “did you ‘RentSpec’ it?” It is important that RentSpec retain its status as a proprietary trademark since generic terms cannot be protected by intellectual property law. The name RentSpec was created to evoke the concept of renting and imply that the items on the website have the “specifications” required to get any job done. Also, since the Latin word “spec” means “to look” RentSpec can be literally translated as “the place to look for rentals.”

Another positioning goal is for RentSpec to own the word “Utility” in the minds of its consumers. Similar to the way in which Volvo owns “Safety”, RentSpec’s ownership of the word “Utility” would reinforce its identity as a tool so quick and effective at finding rentals, Jack Bauer would use it. Thus, when a renter or rental provider needs to get something done, they would immediately consider renting or advertising via RentSpec.

The following marketing strategies are designed to achieve these positioning goals.

B) Product: RentSpec has a range of product and service offerings satisfying the needs of it 3 markets.

The following features and benefits analyses explain each product, its features and how they benefit the intended user: Rental providers Products/Services: The presence of their rental items on the popular RentSpec rental item directory.

RentSpec provides rental providers the tools needed to create profiles of their rental items and leases them space on the RentSpec database for periods of time so that they can post the profiles they make.

The following explains the aspects of www.RentSpec.com that are designed to assist rental providers in this process:

Feature Links to the resources page are present at the header of every RentSpec web page.

The login/register your items link takes users to the RentSpec login page where one can enter their User ID & Password or create a new account.

The registration contact info & user ID page collects the necessary non-financial information to create a RentSpec rental provider account. Email, User ID & Password must be entered twice to prevent misspellings. A confirmation e-mail will be sent to the e-mail address the user has entered upon completing of the registration.

A Member’s account page is accessed by logging into the RentSpec system with their user name and password. The page gives members the ability to view and sort snapshots of all items they have listed, edit them, edit their contact & billing information, add items, edit items, hibernate their items, make one time payments with a credit card of their choosing, view past statements, see their current billing activity, next payment date and next estimated automatic payment amount.

Each day, a fee will be charged for every item a rental provider has actively posted on RentSpec.

At the end of the month these fees will be summed and automatically paid with the credit card information recorded on the billing information registration page. A confirmation email will be sent to the rental provider after each monthly payment.

On the add item page, rental providers are given the option of pre-paying a non refundable fee which will post the item for a year and cost 10% less than had they paid month to month over the course of the year. If they chose to pre pay, rental providers may use the credit card on file or one of their choosing and must decide whether the item is to automatically renew after a year, convert to a fee-per-day item, or be deleted.

If a member’s credit card has expired or been canceled and RentSpec is unable to collect the fees owed, all profiles except prepaid will be hibernated, inaccessible and no additional items will be allowed to be listed until the account is updated and all outstanding balances are paid.

The automatic payment information display shows renters their current balance, their next automatic payment date, and the estimated amount they will owe by that date as long as they do not add or remove any items before that time.

Clicking Current Balance Details takes members to a page where they can see a breakdown of the fees that comprise their current monthly balance and shows them how many active days their prepaid profiles have remaining.

Members can view their billing history by using the past statements feature which will display the amount charged and items listed for up to 5

Benefit The resources page helps educate RentSpec users on how to maximize their income and convenience when renting out items and legally protect themselves in the process.

Using the login/register your items link as the only lead into the account login and account creation points prevents confusion by providing rental providers only one button they need to remember.

This section of the registration process puts RentSpec in touch with its rental providers so any conflicts can be resolved and creates the username and password rental providers will use to gain access to the site and post items. The confirmation e-mail re-assures the rental provider that the registration process has been effective.

This page is the base from which members can customize their presence on RentSpec. Keeping these tools in a centralized location helps rental providers stay organized and effective. These tools are explored in detail below.

This payment system is a hassle free way for rental providers to list or remove as many items as they like, whenever they like. It also saves rental providers time by automatically paying their balance at the end of the month without requiring the rental provider’s repeated involvement.

Pre-paying is the most desirable form of payment for RentSpec. Thus, in exchange for prepaying, RentSpec gives rental providers a 10% discount on the fees it would pay month to month over the course of a year. Thus the discount is a gift, thanking loyal rental providers who post items for a year anyways and an incentive designed to encourage fee-per-day rental providers to commit to a longer period of time.

This feature enables members whose account has been frozen by RentSpec because their credit card on file for automatic payments has expired or been canceled, re-instate their account, reactivating all their items.

These indicators help rental providers make sure their expenses on RentSpec are within budget and prevent them from being surprised at the amount charged at the end of the month.

This tool is designed to remove any uncertainty rental providers may have about the origin of their monthly fee and helps them make decisions regarding pre-paid item profiles.

This feature aids rental providers in keeping track of their advertising expenses so they can judge the effectiveness of their advertising

The value RentSpec provides rental providers is only partly derived from the features of its website. These features would be valueless without a large population of renters searching the site looking for rentals. Thus, as part of its product/service offering, in order to attract renters to the site, RentSpec is constantly engaged in effective promotional campaigns (see promotion strategy for more information).

Renters Products/Services: The use of a website that provides renters with tools so that they can easily locate rental items with the specifications they require and communicate with rental providers.

The following explains the aspects of www.RentSpec.com that are designed to assist renters in this process:

Feature RentSpec’s high contrast color pallet uses black, white and occasional bright colors that stand out on LCDs in bright conditions.

Links to the resources page are present at the header of every RentSpec web page.

Benefit This is helps renters searching for items while outdoors on a laptop or in other extreme conditions easily see the website.

The resources page helps educate renters on common rental practices and procedures.

The home page main category display lists each main category with active links that take the user to a page listing the category’s sub-categories or to the advance search page with the chosen category selected in the category selection tool.

Keyword Search searches the item title, make, model, item description and conditions for rental of all items listed under the category selected.

The keyword search on the homepage searches items in all categories.

Country & Postcode search ability allows renters to search for items within a scaleable radius of any postcode globally. It also allows renters to see how far in miles an item is from a postcode.

This makes it easy for renters to get a general idea of what is available on the site and is a convenient way to begin searches via category.

Search via rental provider’s name scans the names in the account and contact info name fields to limit search results so that only items owned or managed by rental providers with that name appear.

The category selection tool is a series of scrollable windows on the advance search page in which each window displays the subcategories of the category selected in the previous window.

Only items listed under the last window’s category are returned as search results.

The search items priced between feature limits search results to items who’s per day rental cost is within the parameters set by the user.

Price & distance search result sorting tools allow renters to sort their search results so that they are listed by either lowest price 1st or by closest item 1st.

Item Snapshots appear on the advanced search page as search results and are comprised of one thumbnail photo of the item, the item title, make, model, price per day, distance, a portion of pricing details & conditions for rental text and a link to the item’s detail page.

This feature helps renters make use of referrals they have been given or advertisements they have seen which have prompted them to rent an item from a specific rental provider.

The # of Returned Results indicates the number of items a search has returned.

The # of results per page sorting tool limits the number of search results displayed on the advance search page.

The Page x of x indicator displays which page of search results the user is currently viewing.

When the user advances to a different page, a new set of returned results (item snapshots) will appear beneath the advance search parameters.

In addition to the item title, make, model, price per day, and distance from postcode that appear on the snapshots, Item detail pages contain an item description, an item ID #, contact information, 3 full size images of the item and the full pricing details and conditions for rental

This provides rental providers an expedient way to search for the items they are looking for without regard to category. It can also be used to further refine searches done using the category selection tool.

This feature helps renters find items that are conveniently located to wherever they are on the planet.

This feature allows renters to search with precision by confining the search area within a category or subcategory.

This saves renters time and money by limiting search results to items that rent within their price range.

This helps rental providers organize their search results depending on what is more important for the application: time & convenience or renting on a low budget.

Displaying search results on the advance search page bellow the search parameters allows renters to instantly see how tweaking their search parameters alter their search results. The information presented in the Snapshot is designed to save the renter time by displaying key information so the renter can be selective about which items he or she chooses to look at in detail.

These features help renters stay focused and organized by regulating the number of search results displayed per page. This prevents renters from potentially becoming overwhelmed by a seemingly endless list of search results. Using this feature, renters can see how many items (search results) a search has returned and based on that, decide how many items to review per page.

These detail pages help renters become familiar with the item so they can decide whether or not to contact the rental provider and rent the item.

The 3 full size photos provide varying views of the object, the item description provides specs and common uses for the item, the details and

Again, the functionality of the website is only part of the value RentSpec provides. The ability of renters to find the items they are looking for is dependent on rental providers having posted those items on RentSpec. Thus, as part of its product/service offering, in order to attract rental providers to the site, RentSpec is constantly engaged in effective promotional campaigns (see promotion strategy for more information).

Supplemental Advertisers Products/Services: Mailing lists, banner ad spaces and page sponsorships capable of capturing a variety of target markets with precision.

RentSpec provides supplemental advertisers three options for advertising to its user base of renters and rental providers.

Feature Supplemental advertisers can buy Banner Ad space on various web pages throughout RentSpec. Banner ad space is comprised of both skyscraper and header ads and is leased for variable periods of time.

Supplemental advertisers can also buy e-mail or real-estate mailing lists of members who have permitted the sale of their contact information.

These lists are generated based on the parameters set forth by the advertiser.

Resources page sponsorships are similar to banner ads except that it is indicated that the advertiser sponsoring the page has provided the information on the page.

Benefit Banner ads strategically located on certain RentSpec web pages help supplemental advertisers deliver targeted advertising messages to their consumers for the time period they desire and in the banner ad format they wish.

Many supplemental advertisers benefit from such direct marketing. It is an effective way to target likely consumers of a product or service with a personal feel.

Sponsorships benefits supplemental advertisers by lending a level of authority to the advertiser for having supplied information to a website the consumer already knows and trusts.

C) Processes: RentSpec’s automated processes were already discussed as features of the RentSpec product.

Required customer interaction and RentSpec’s non-automated processes are discussed here.

Item Search When searching for an item, renters must use their knowledge of the item and what the item is to be used for to come up with key words to search for and categories to search in which will direct the RentSpec search engine.. Once a list of search results has been generated, renters further inspect the profiles which appeal to them by viewing those item’s detail pages. Renters may need to compromise and tweak search parameters such as distance and price in order to find an adequate list of search results. When a suitable item has been found, the renter contacts the rental provider using the contact information available.

Membership Registration/Login In order to post an item profile on the RentSpec database, a rental provider must first be logged in as a member. In order to log in or become a member, the rental provider first clicks the area of the header labeled “register your items.” They will then be taken to the login page where they will be prompted to log in or register if they do not yet have an account. If they have an account the rental provider enters his or her username and password and is taken to their member homepage from which they can add, edit, and delete items as well as change billing information. If they do not yet have a membership, their only option is to hit the register button which will take them to the member info registration page. On this page rental providers input the requested information regarding contact info, and their desired username and password. Once all required fields are completed and the rental provider hits the submit button, they will be taken to the membership billing info page. On this page rental providers input their credit card information which will be used at the end of the every month to automatically pay any fees incurred during that month. Once this page is completed, a confirmation email will be sent to the rental provider confirming his or her membership and they will be taken to their new member homepage.

Add Item Once a rental provider is logged in as a member and on his or her membership homepage, they can begin the process of adding items by clicking the “add another item” button. By far the most involved process a rental provider will engage in using RentSpec, adding an item has 8 steps.

1. The member selects the primary category by clicking “edit category” and using the category selection page to highlight the category and or subcategory desired from a series of six windows whose contents change depending on the selection highlighted in the previous window.

2. Members then select the secondary category in the same fashion as the first.

3. Members then input a per day price in the price field and select the corresponding currency.

4. In the details box, members input the item’s title, manufacturer, and make as well as a description of the item and an explanation of any pricing details or requirements for rental.

5. Next, three photos of the item can be uploaded.

6. The rental provider must them make a decision to either display their contact information on file or attach a different set of contact information to the profile.

7. The rental provider is next provided the option of paying a non-refundable fee for the item to be listed for a year using their credit card on file or one of their choosing. If this option is chosen, the rental provider must decided if at the end of the year, the pre-paid profile is to automatically renew for another year, be converted to a fee-per-day item or be deleted.

8. Lastly the profile is previewed and if deemed acceptable, submitted. Upon submission, the member is taken back to the member homepage where the item now appears in the item profiles section beneath the billing info box.

Customer Support When RentSpec customer support is contacted via phone, the caller is greeted by RentSpec’s automated operator. The caller will be asked to choose from a list of possible departments to resolve their problem. Each customer support representative will be trained in proper phone etiquette and RentSpec technical problem resolution procedures. The department support representative who takes the call will collect & record the necessary information from the caller, store it in their database and assist the caller as best they can. If the representative deems it appropriate, he or she will instruct the accounts payable department to issue a refund and/or inform the web developer or database manager of changes that need to be made. If the representative is unable to help the caller, he or she will refer the call to the Customer Service Manager.

Individuals in need of customer support can also e-mail their issues to the proper department’s customer support representative who will respond promptly, store the correspondence, and recommend possible updates to the RentSpec Frequently Asked Questions page.

Supplemental Advertisements Advertising account representatives will take calls from interested supplemental advertisers and routinely work to develop relationships with potential supplemental advertisers through cold calling, industry events and networking. Once a supplemental advertiser is acquired, the account representative assists the client in filling out the necessary forms. The forms vary depending on the type of advertising requested.

Banner ads: In the case of banner ads, the form collects the following information: 1. Is the ad a header or skyscraper?

2. Which pages will the ad to appear on? (prices may vary) 3. What is the file format of the banner ad?

4. What form of payment will be used?

Upon receipt of payment and the banner ad file, the account representative will deliver the file along with the form to the web developer who will then append the advertisement to the website.

Mailing lists: When a supplemental advertiser requests a mailing list of RentSpec users, the account representative will collect the following information: 5. What attributes should the rental providers on the list possess? E.g. they must be rental providers of items in a specific category, location, price range and have posted X # of items.

6. What contact information should the list provide? Available options include: e-mail addresses, real-estate addresses, cell, tell and fax numbers.

7. Should the list include account holders, rental managers or both?

8. What format is the list to be provided in?

9. What form of payment will be used?

Once the form has been completed and payment received, the account representative will deliver the form to the database manager. Once the database manager has created the list, the account representative delivers it to the client via e-mail, post or in person.

Sponsorships: In the case of a sponsorship, the form collects the following information: 1. What content is being posted on the page being sponsored?

2. Where will the sponsor’s logo be positioned on the page?

Once the form has been completed and content, logo & payment have been received, the account representative will deliver the form along with logo and content to the web developer who will then amend the page being sponsored to reflect the changes requested by the sponsor.

D) People Since RentSpec provides a highly automated service offering, there are few human actors taking part in the service delivery and thus influencing the consumer’s perceptions. The few who do take part are discussed here.

Customer Service Representatives: RentSpec’s customer service representatives are cubicle employees fielding phone calls and emails from rental providers and on occasion renters who call in with questions, or complaints regarding their interaction with RentSpec. They are recruited via classified ads and referrals and are trained by customer service managers to handle a variety of problems RentSpec users may encounter.

Since it is difficult to measure the quality of service customer service representatives provide callers, their motivation for doing a good job is to prevent angry callers from complaining to their supervisor and thus causing them to loose their salary. Potentially, a program may be put into place in which at the end of a customer service call, the caller will be put through to a customer service manager to rate the quality of his or her service. Representatives with stellar service records will be financially rewarded.

Customer Service Managers: In order to recruit, train, and supervise customer service representatives, customer service managers are necessary. They are hired and trained by the head of the customer service department who is also a customer service manager. Customer service managers are motivated to effectively perform their job by the fear of loosing their job. Thus, these individuals must be well paid and cared for.

Supplemental Advertising Account Representatives: Part account managers, part personal sellers, account representatives attract and nurture companies to advertise with RentSpec via banner ads, sponsorships or by purchasing mailing lists.

These individuals are recruited by the head of supplemental advertising accounts via classified ads and referrals. They are then trained as salespeople to court potential advertisers and coordinate their campaigns with RentSpec. They are paid on salary and motivated to excel based on commissions they receive from portions of the ad monies they bring in. In order to deliver value to their clients they must cultivate positive working relationships with other RentSpec employees who they will need to call upon to assist them.

Accounts Receivable Also known as the billing department, if these employees are disorganized, payments may get lost causing customers to become upset. Thus they must be carefully recruited and trained to handle RentSpec systems. They may be called upon by customer service representatives to activate or deactivate an account manually, or by advertising account representatives to take payment from an advertiser.

Accounts Payable Customers may interact with employees of this department in service recovery situations making them important aspects of RentSpec’s position in consumer’s minds. Refunds must be prompt and efficient to preserve customers in case of a mistake or reasonable dissatisfaction.

Web Developer The artist of the internet, RentSpec’s web developers are key components in keeping the site running and posting advertisements for paying clients. If they are not customer friendly, fast and efficient, customers may be turned off from doing business with RentSpec.

Database Manager This employee is the eyes and ears of the CEO and marketing department. Using Microsoft Access to read and manipulate the RentSpec database, the Database manager is in charge promptly and accurately reporting RentSpec’s “specs” and providing mailing lists to account representatives who in turn provide them to supplemental advertisers. A breakdown in the chain of information could cause the loss of an advertising client.

Marketing The marketing department is in charge of presenting the company to the world. Its job is to establish RentSpec in the proper location within the minds of consumers. In order to do this, RentSpec must have an excellent marketing team providing PR and Promotion.

Customers: Renters, Rental providers and Supplemental Advertisers make up RentSpec’s customer base.

Since RentSpec is a new product, it is likely that new customers will need to be educated about what RentSpec is and trained in how to use it. RentSpec’s promotional strategies, physical evidence associated with the site and customer service and account representatives are all prepared to educate and train customers.

E) Physical Evidence The physical evidence of the products/services RentSpec provides its consumers is indicated by the following: Rental providers The physical evidence of the presence of a rental provider’s items on RentSpec and the popularity of the website is apparent in: 1. Member pages and their item profiles.

2. Interaction with renters involving contracts, insurance certificates, conversations, etc.

3. The money derived from the rental of an item by a renter who found it via RentSpec.

4. RentSpec advertising.

5. RentSpec stickers designed to be placed on the item.

6. Monthly credit card statements 7. Payment confirmation and special offer E-mails from RentSpec.

8. Word of mouth about RentSpec.

Renters The physical evidence associated with using RentSpec to locate rental items and communicate with rental providers manifests itself in the form of: 1. Search results & item detail pages.

2. RentSpec advertising.

3. Interaction with the rental provider involving contracts, insurance certificates, conversations, etc.

4. The use of the item rented.

5. RentSpec stickers appearing on the items rented.

6. Printed item profile pages.

7. Word of mouth.

Supplemental Advertisers An advertiser’s purchase of mailing lists, banner ad space or sponsorships capable of capturing a variety of target markets is evidenced by: 1. The actual mailing list in print or electronic form.

2. The forms used to collect information about the advertisement.

3. The appearance of the advertisement or sponsorship logo & content on RentSpec pages 4. Increased business which could be attributed to RentSpec advertising.

5. User base statistics provided by RentSpec.

F) Pricing Rental providers In exchange for having their items’ presence on RentSpec, rental providers are obligated to pay a fee which is to be automatically charged to their credit card account on file at the end of every month. The fee which can vary in amount is an accumulation of smaller fees accrued throughout the month. Every day rental providers must pay .35¢ for each item they have active on RentSpec (up to 5 hibernated items can be excluded). However, rather than have multiple charges of .35¢ appearing on a rental provider’s credit card statement, RentSpec’s billing system tallies and combines these charges into one transaction to take place at end of the month. Rental providers can also pay for one year of an item’s presence on RentSpec in advance and in exchange pay 10% less than had they been automatically charged at the end of the month for 12 months.

These pricing strategies are designed so that rental providers perceive RentSpec has having a favorable cost/benefit ratio. The retroactive nature of the main billing system ensures that rental providers only pay for the services they use. The low perceived cost associated with charging .35¢ per item per day lowers resistance when deciding to post an item. The automatic credit card transactions which do not requiring the rental provider’s involvement are out of sight and thus out of mind.

Additionally, the 10% yearly discount on item’s paid for in advance rewards loyal RentSpec rental providers.

Renters RentSpec is free to search. By not having to login or pay subscription fees, renters are more inclined to use RentSpec to find the rental items they need. This is essential because the more inclined renters are to use RentSpec, the more value RentSpec offers income producing rental providers.

Supplemental Advertisers RentSpec’s banner ad and sponsorship advertising rates are comparable to similar websites.

The mailing lists are comparable to mailing list distributors. I need to look up what these comparables are.

G) Place RentSpec is located on the World Wide Web at www.rentspec.com. Since many renters will be using RentSpec in a variety of locations, RentSpec’s place strategy is to optimize the website for viewing on mobile devices. RentSpec employs a high contrast color scheme and mobile device formatting to make viewing in bright light and or on handheld devices possible.

H) Promotion Website optimization keywords.

Logos Email campaigns Ads in periodicals targeted at producers & crew Production guides You Tube viral commercial Bargain Trader Free Production/Construction Pop-Up tent RentSpec Item Stickers

Table of Contents 1) Executive Overview 2) Market Review a) Trends Overview b) Market Segments c) Target Market (Primary and Secondary) 3) Competitive Overview 4) Strengths, Weaknesses, Opportunities, Threats 5) Goals and Objectives a) Sales Objectives b) Marketing Objectives 6) Strategies a) Positioning b) Product c) Processes d) People e) Physical Evidence f) Pricing g) Place h) Promotion 7) Action Plan and Implementation a) Media Mix b) Schedule c) Budget d) Assignments 8) Tracking and Evaluation a) Response Tracking Procedures b) Sales Reviews