Rochester Business Plan

ROC On to the Inner Loop

A Marketing Plan to Retain Rochester's Youth

Rochester's 18-28 year old population has been leaving this city in mass amounts. This is common knowledge, and our plan is targeted towards the target audience in efforts to keep them here for a longer duration of time.

We feel that there are several beautiful attractions that make up the Greater Rochester Area of which this target audience is unaware. This marketing plan aims to get this market out into the suburbs and city of Rochester to see the diversity and unique options that our area provides. This will alleviate the negative stigma held by the 18-28 demographic by bringing to their attention the ample business and recreational opportunities available. We seek to build a stronger sense of community through interactions with businesses, local marketing campaigns, and more effective communication with this demographic.

With our creative and influential ideas we intend to retain Rochester's young adults so that the city will flourish with a new generation of hope.

1. Current Situation page 2

2. Target Audience 3

3. SWOT 5

4. Trends 6

5. Benchmark Cities 7

6. Evidence 9

7. Marketing Objectives and Goals 9

8. Marketing Strategy 10

9. Marketing Tactics 10

10. Cost and Implementation 13

11. Measuring Success 13

12. Summary 14

13. Appendices I-IV 15-17

14. Works Cited

Current Situation

Economic:

Despite the fact that the unemployment rate is at the national average of 5.4% (as of Feb. 2005), there seems to be a negative stigma about Rochester. Upon taking a poll of approximately 75 students spanning many different majors from SUNY Brockport, RIT, and Roberts Wesleyan College (results can be seen in Appendix I), we have realized a trend of reasons as to why people do not stay in Rochester upon graduation.

Many claim they would stay if they were provided with a decent job. Although this is a very difficult problem to overcome, we feel that much can be done to minimize the would-be emigrates, including the incorporation of many social events in order to make Rochester feel more like home.

Social and Cultural:

There tends to be a negative attitude toward Rochester winters. Although we cannot change this we think there is much opportunity in the winter season to attract more people and make Rochester a more pleasant place to live.

We have also found that many college students enjoy the arts provided by Rochester, but many are unaware of the cultural gems of the greater Rochester area. Organizations like the "Rochester Area 20 Somethings" (RATS) and newspapers such as The City and The Insider seem unable to attract people to events. We hope to offer suggestions about where to go, and also to promote interaction among city residents.

Rochester has many excellent aspects as it is rated 7th out of 354 cities in the recreational amenities category. Also, our city is rated 30th out of 354 metro areas for overall place rating, which included cost of living, climate, crime, transportation, job outlook, education, the arts, healthcare and recreation. We plan to make this more evident to area residents, while encouraging them to take advantage of the variety of events offered.

Government Influence:

Our government situation in Rochester is relatively sound however, a major deterrent that creates a heightened negative stigma is that Monroe County has the fourth highest tax rate in the country. This, we feel, is something that must be taken into account in order to attract young professionals to the city. We understand the reasons for high taxes and know that we cannot change them, but we feel that this may turn away potential inhabitants. Therefore, the need to focus on financial strengths of the city is imperative.

This can also have a negative impact on small businesses. In starting a small business, many look for areas where low costs can be maintained, and barriers to entry are small. Our high taxes could be pushing small businesses and entrepreneurs away from our area, and thus costing our city growth. Businesses are currently responsible for 60% of the total tax revenue for Monroe County.

A proposal of the state wide government that may be beneficial for small businesses is George Pataki's "Operation Spur" plan. This will benefit upstate New York by offering a tax break to small businesses and requiring them to calculate their taxes on in-state sales only. The program will be advantageous for many companies. Because the business world is growing more global everyday, it gives more of an incentive to grow nationally without being double taxed.

Housing:

According to www.retainthebrains.com, Rochester housing is 27% more affordable than the national average. This is quite advantageous and attractive to potential newcomers. However, owner occupied housing has been growing stagnant since 1970, with only a 5.4% increase from 1990-2000. For renters, this city is becoming more attractive as the rent growth rate from 1970-1980 was -35%, and is now 5%. This could be attributed to the high taxes in owning a house and low costs in renting. For example, apartments around Rochester range from $266-$679 per month, with reasonable utility expenses.

Compared to major cities in the North-East, overall cost of living is very low in Rochester. When compared to Boston, Washington and Atlanta, Rochester holds a score of 94.5, with the rest at 132, 127.7, and 109.4 respectively.

Local Media:

Media in the city of Rochester is more than adequate for the city's needs. There

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