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New City Home Care Marketing Plan

Assignment Instructions

You currently work as a marketing coordinator for New City Home Care, a private home health company that offers nursing care and therapy services to the elderly residents of a medium-sized Midwestern city with a population of about 55,000 people. The neighboring town, about 10 miles away, has a much smaller population, but as the population ages, this town is seeing an increase in retirees. The chief executive officer (CEO) of New City Home Care has decided that it would be beneficial to expand into this town by opening a satellite office. She is eager to be the first home health company to open a physical office in this new territory and has tasked you with developing a marketing plan. You have been asked to provide an executive summary to the management team of the marketing plan. The summary needs to explain how the following will used in your team’s marketing plan:

  • The company’s historical resident trends and current strategic plan
  • Demographic data
  • Quality standards
  • Marketplace analysis, including competition
  • Models and best practices for reaching the target audience
  • Developing recommendations to ensure alignment with company strategy
  • Writing the plan and setting expectations
  • Implementing the plan and proven best practices for implementation
  • Tools for evaluating and adapting the plan

Sample Marketing Plan For New City Home Care

Introduction

New City Home care is a private home health company which provides therapy and nursing care services to the elderly people residing in a medium-sized Midwestern city with a population of approximately 55000 individuals. The company is considering expanding its operations to the neighboring town, which is located about 10 miles away with a smaller population, though with increasing number of elderly people. Despite this change, the town does not have any single home care facility to cater to the elderly. The company thus plans taking advantage of being the first ones to open an elderly care center, but after understanding the market. This paper present the marketing plan for the New City Home Care in the intended new market.

Company’s Resident History and Current Strategic Plan

The history of the area is considerably important while making the marketing plan. The history gives an overview of the life of the people in the area and how they have been taking care of their elderly population in the past. The history can also tell on the changes taking place in caring for elderly people. For instance, a community which is used to community groups nurturing elderly people at home or where elderly people meet and provide each other support, may not be attracted to a facility offering residential services. In a different situation, elderly may be taken in by younger family members and be nurtured by them as part of the community tradition. In other communities, elderly are left to manage their situation, without obtaining any external help. Different situations will influence the marketing strategy to be employed in this case, and the success of the marketing process.The history also assists in understanding the preparations individuals make during their early age to be able to survive after retirement. The identified trend should be compared with that of the company to determine if they align based on the kind of customers anticipated by the company and the needs that the company address, compared to what is provided by the community in the region. The marketing department will use this information to define marketing techniques that will influence the decisions of most of the targeted customers despite of their traditional practices in caring of the old.

Demographic Data

Demographics data include data on age, gender, socioeconomic status, education, and household size among others. This information will helpthe company to understand the kind of population the market has, people’s lifestyle, their financial ability and social activities. This data is also used to identify the size of the targeted customers and its future trend based on the current population based on age. For instance, in this case, New City Home Care will assess the elderly population in the area using the demographic data. The organization will also manage to evaluate the future trend of the targeted population to determine the likely changes that may take place in the market in the future. This will be done by assessing the adult population as well as young people in the population. This will guide the organization in making decision on the best marketing strategy to employ and how they can influence the aging generation into considering its service. Demographics also assist the company in assessing the population ability to afford its services. Assessing the use of modern technology that include internet, smartphones, social media and electronic mails among the targeted elderly population will guide the marketing department in determining the most effective ways to reach the targeted audience (Majumder, et al., 2017).

Quality Standards

The market research should assess the company’s ability to maintain quality standard after the expansion, compared to the quality standard anticipated by the customers and permitted by the authority. Home of care may need to handle different health needs of the targeted customers.  This includes medical services and regular checkups for those experiencing chronic health issues (Amaria, 2013). They should also be able to cater for their social needs, and assistance in their daily life, by offering quality care. The facility provided should be easily used by the elderly people. The facility should be able to provide professional care givers, and be connected to a health facility that can take care of its customers even in during emergencies. They should be able to cater for physical, social, psychological, emotional and daily activities needs, and maintaining high quality of their services. These standards should be defined by the individual needs of the elderly people in the population.

Marketplace Analysis

The marketing plan will also need to conduct an analysis on the marketplace. Market analysis focuses on analyzing the customers to determine their willingness to utilize the company services and how much they would value such services. This will focus on determining the community understanding of residential care for elderly people and their attitude towards it. The assessment can include the elderly attitude orthat of their care giver; family members or guardians taking care of them (Winston, 2012). It will also determine the population willingness to give up their loved ones in a residential care and to pay for the services provided. The analysis will also assess the competition in the market. Although there is no any elderly care center in the region, there might be other practices that are used to ensure the survival of elderly people in the area. These practices can exact a high level of competition to the company and its services. The competition assessment should also check on possibilities of other organizations planning to venture into the same field in the area in the future to, determine how this might impact the organization operations in the future.

Model and Best Practices for Reaching the Targeted Audience

The model in this case should focus on reaching to the elderly people who are the targeted customers. It should therefore be founded on their best mode of communication; verbal or written, or the accessibility of assistance where need be. The model should also evaluate the level of accessibility. The communication mode selected should be able to access majority of the targeted audience. In this case, marketers should focus on places where elderly people are highly accessible which include spiritual or religious places like churches, and meditation centers, and also in hospitals. It is assumed that most of these elderly retired recently or they are about to retire, meaning that they are able to read and write. Thus, banners can be placed in such places to be able to communicate to the majority (Winston, 2012). Another best practice would include working with healthcare facilities in the area which would be requested to refer patients needing special care that cannot be provided at home to the organization. The model should focus on accessing as many customers as possible, and ensuring that they effectively understand the services provided in the organization and why they are useful to them.

Recommendation to Align with Company Strategies

The organization offers therapy and nursing care services to the elderly residence. The organization thus mostly targets elderly people who need therapeutic and nursing care services. It is therefore recommendable that the developed marketing plan should focus on attracting these elderly persons that need extra nursing care and therapeutic services, which are not available in their homes. It is also recommendable that the marketers should ascertain the actual therapeutic and nursing care services provided in the organization to ensure that the marketing results do not overburden the organization with conditions it cannot manage. For instance, elderly needing hospice care may be hard to manage, compared to elderly needing nursing care just due to the age issues. The right communication tools should be used to ensure the message get to the right persons. In addition the right message should be communicated. Based on the age of the targeted customers, the message needs to be simple, visible or audible, and easily understood.

Writing Plan and Setting Expectation

The marketing plan will start by identifying the mission and the objective of the marketing research. The aim of the marketing research will be to establish if the neighboring town is viable for company’s expansion. The research strategies will focus on assessing the demographics of the population and possible competitors, and wiliness of the population to embrace the services provided by the company.This will be followed by defining the targeted customers and means to get to them. Marketing strategies will then be employed to ensure the organization reaches most of the targeted customers effectively. It would be expected that with effective application of the marketing strategies, the organization will be able to attract a handful of customers within the first week of its establishment. It is also expected that provision of quality services to the first customers will build the residences confidence with the facility, encouraging enrollment of even more customers in the near future (Shipley, 2014).

Plan Implementation

Plan implementation will start by finding the best site to establish the physical office. Once the place is identified, the marketing department will develop adverts in forms of banner, flayers, radio, newspapers, and television adverts to inform the targeted population of the new center opened to serve them. Electronic media will also be used based on its usability among the targeted population or their caregivers. The above forms of advertisement will be employed since most elderly people are highly conservative. This means they will prefer consulting old media compared to new. Exemption will only be applied based on the analysis result. The services should then resumes immediately the first customer shows up. The implementation of the plan will therefore engage the marketing department and all other departments needed to enhance effective running of the center.

Tools for Evaluating and Adapting the Plan

The effectiveness of the applied marketing plan can be determines by use of various tools. One of the tools is the customers register book. Being a new center, the organization should consider keeping a register book, where customers visiting for the first time will be registered and offered customer identification number. This tool can be used to evaluate the marketing plan success based on the customers flow. Head count of elderly placed under the care of the organization can also be used to measure the success of the marketing plan. Another tool that can be used to measure the success is the financial tools. The organization cash in-flow from the center or the total revenue within a specific time period can be used to determine whether the marketing plan met its anticipation or not (Sychrova, 2013). Customers’ referral following provision of quality services can also be considered as part of the marketing success. The marketing department in healthcare considers quality of services provided as part of marketing. Provision of services of high quality will ensure that the customers pass a word of mouth to their friends, neighbors and relatives, and hence increasing of customers from referral. To measure this, the initial registration should consider asking customers how they learnt about the organization.

Marketing Plan on Insurance products – Assignment Instructions

Develop a 12- to 14-page marketing plan on Insurance products (not including the title and reference pages, charts and/or graphs) for any product of your choice. Your marketing plan must:

  • Analyze the specific marketplace situation in detail, including organizational strengths, weaknesses, environmental opportunities, and threats (SWOT analysis).
  • Develop an organizational mission statement, and forecast performance goals using your situational analysis.
  • Design a marketing strategy based upon your objectives.
  • Create an appropriate integrated marketing mix, which will include your ability to effectively appeal to the specific market segments you will be targeting.
  • Develop a written summary and specific recommendations for the implementation of your plan.

Writing the Final Paper The Final Paper: Must be 12 to 14 double-spaced pages in length (not including the title and reference pages, charts and/or graphs), and formatted according to APA style as outlined in the Ashford Writing Center. Must include a title page with the following: Title of paper Student’s name Course name and number Instructor’s name Date submitted Must begin with an introductory paragraph that has a succinct thesis statement. Must address the topic of the paper with critical thought. Must end with a conclusion that reaffirms your thesis. Must use at least four scholarly sources, in addition to the text.

Marketing Plan for A Fictional Goods and Services Company

Marketing Plan Part 2 – Pricing strategies ,strength and weakness, internal and external

You created a fictional start-up company entering a foreign (non U.S.) market with a good or service. Here you will continue to work on your marketing plan for the good or service the company is offering.

Write a five to six (5-6) page paper in which you:

  • Provide a detailed description of your company. The description should include, at a minimum, the product’s name, trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant.
  • Describe the company’s target market in terms of its size, competitors, and the specific needs and wants of potential customers that your product or service is likely to satisfy.
  • Analyze the pricing strategy relative to the company’s pricing objective, and internal and external factors that could affect the pricing of the company’s goods or services.
  • Determine the distribution strategy in terms of your target market, location, and selection of distribution channels.
  • Outline the promotional strategy in relation to marketing objectives, advertising program, and public relations activity.

Use at least two (2) quality references. Note: Wikipedia and other Websites do not quality as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Understand the key elements of business marketing including product, price, distribution, and promotion.
  • Determine the marketing planning process, market segmentation, and the development of the key elements of a marketing strategy.
  • Identify the key factors in establishing price.
  • Describe logistics and marketing distribution channels.
  • Explain the considerations of a promotional mix.
  • Explain the key components of consumer and business sales promotion.
  • Determine the roles of integrated marketing communications, advertising, and public relations in marketing.
  • Use technology and information resources to research issues in marketing.
  • Write clearly and concisely about marketing using proper writing mechanics.

View a sample paper on Interactive Marketing Plan  or order a unique marketing plan paper written by our professional writers at an affordable price. 

Preliminary Marketing Plan Of Armco Corporation

There are certain guidelines that must be followed when making a Preliminary Marketing Plan. First, it’s important to note that there are a lot of information provided by the internet including shopping for products, as well as connecting with various people across the world.  This brings up the issue to buy every item that a person might need by visiting several sites. This marketing plan is for the Armco, a company totally centered around providing the customers with a website having all the individuals and items that any person would ever wish to have (Romo n.p). The company has a plan to focus on the area of Latin America, particularly the Mexico since it is an upcoming nation economy and the first in moving towards the online retailing industry and therefore will be dominating the market share.

Among the marketing objectives of Armco Company include the specific description of target market that comprises of online services for every person who has the capability of using a computer for connecting in the market. Another objective is to focus on the sales for its first five years of operation, which however, will be small but that exactly what the Company is expecting. They are also expecting sales amounting to $500 million in the first year. On the second year to the fifth year, they will be expecting 750-775, 1.125-1.3125 billion, 1.6875-1.96875 billion, and 2.53125-2.953125 respectively (Romo n.p). Other objectives include to forecast on the profit for the first 1-5 years,  as well as penetration of the market and coverage.

On the other hand, the Company is also characterized with certain strengths, weaknesses, opportunities and threats. One of the strengths is that Mexico the growth of Mexico as a new market to explore has shown that there is an opportunity in online retail as well as the rise of online sales. The weakness that the company faces is the likelihood of new entrants in addition to the associated nonexistent switching cost, which will probably lead to a proponent competition. One of the opportunities is that while entering a new market will provide them different variables that will ultimately see the Company entering a multinational venture (Romo n.p). Finally, the major threat they will face will be from the political system of Mexico, which is characterized with bribes and corruption.

On the other hand, the Armco company also projects that the market will maintain a stronger growth rate for the coming few years, which will comprise of several entrants alongside the improvement of global infrastructure. They would probably rely on tourism as a significant source of revenue that has also been a greater contributor to the country’s economy. Therefore, this implies that corporations such as Armco will significantly benefit from tourism. The three most important products that Armco Company will consider having are such as Auto Parts, clothing and electronics (Romo n.p). They feel that these are the products that the Mexican consumers will mostly need apart from wants, but they will as well anticipate other products falling under the category of wants, which as well become their important source of revenue.

Finally, the Company anticipates that they the employees they would hire will all be the Mexican citizens, which will ensure that there is low skills and labor costs. Additionally, the Company will also ensure that the local and the national governments allows for a smooth entrance the Mexico since they will understand that the Company will be creating jobs and supporting their economy as well (Romo n.p). In conclusion, they will also ensure that they have an expatriate selected from a number of various applicants. He will be responsible for hiring, training, culture, strategy and research.

7 Page Marketing Plan – Star Mobiles Inc

Executive Marketing

Star Mobiles Inc. is a small and family owned corporation. The company sells Star OS based mobile phones with cutting edge hardware and software (Datamonitor, 2000). The company‘s market base is majorly comprised of youthful individuals aged between 18 and 35 years. An evaluation of the company’s strengths and weaknesses as well as the PESTEL analysis served as the foundation for the marketing plan and strategic analysis. The plan will focus on the internal strengths of the company, weaknesses, differentiation strategy, activities and responsibilities as well as a time plan for achieving the objectives of the plan (Hill & Westbrook, 1997). The plan also focuses on the company’s potential for overall performance, marketing communications in relation to the advertising strategy as well as media and social media tools that will be implemented with the plan in place. The objectives of the company include creating a guideline that will enable the company attain profitability. The plan is also aiming at ensuring growth of the company through brand identity. Finally, the plan will aim at establishing growth of the company in the next five years. The internal strengths of the company can be used to maximize profits while the weaknesses can be useful in identifying areas that need to be improved. Some of the strengths of the company include marketing and advertisement capabilities, vertical integration and a promising brand reputation. The differentiation strategy for the firm will be implemented by the company focusing on advertising products through social media and mass media as well as selling the handsets, which run on custom Star OS, to individuals who need greater functionality in their mobile phones. The weaknesses of the company include the lack of breadth and product offerings at different price points. The lack of diversified distribution channels as well as incompatibility of the phone with other operating systems is also a weakness in the company. With the marketing plan in place, it is expected that Star Mobiles Inc. will be successful in its endeavor.

1.0 Marketing Strategy

This marketing plan will illustrate the market segments as well as the strategies that will be used in getting customers and creating solid revenue streams from the business. The plan will be useful in streamlining the objectives and goals of the company. Our ideal customers who are still youthful prefer handsets that have more functionalities than just making calls and sending texts. This group of individuals loves mobile handsets with fast computing speeds, superior hardware and the capability of installing applications and software that can perform specific tasks.

The objectives of the plan are;

  • To create a guide that will enable the company attain profitability
  • To ensure growth of the company through brand identity
  • To establish the growth of the company in the next five years of business

 

The branding strategy by the company will be simple with main focus being on quality of devices. Star’s mobile phones will be fitted with high quality hardware components that are durable. With main focus on quality by the company, the company’s brand name is expected to grow. Prices of the products will be determined by adding a markup of 30percent on the products to establish the selling price of the handsets. The company will use company stores as the main distribution channels of the handsets.

1.1 Competition

The company’s main competitors are intra competitors who produce similar products and sell software to end users. These competitors are comprised of new firms and businesses as well as established firms that have produced and sold handsets over the years.

1.2 Strengths and Weaknesses

Star Mobiles Inc. has a number of strengths and weaknesses. The internal strengths of the company can be used to maximize profits while the weaknesses can be useful in identifying areas that need to be improved. Some of the strengths of the company include marketing and advertisement capabilities, vertical integration and a promising brand reputation.

The weaknesses of the company include the lack of breadth and product offerings at different price points. The lack of diversified distribution channels as well as incompatibility of the phone with other operating systems is also a weakness in the company.

1.3 Differentiation Strategy

The differentiation strategy for the firm will be implemented by the company focusing on advertising products through social media and mass media as well as selling the handsets, which run on custom Star OS, to individuals who need greater functionality in their mobile phones. With a successful differentiation strategy that focuses on cost, efficiency and quality, brand loyalty will be created among customers Silfverberg, MacKenzie & Korhonen, 2000).

1.4 Macro-environmental Analysis

The salient macro environmental issues such as the legal, technological, social and economic environment of the country will have an impact on the business. With the fast advancement in mobile technology, the company is expected to keep up with the fast trends and improve on existing technologies (Kotler, 1997). The legal environment in the country will determine to a great extent a number of aspects for the business. Taxation and other policies by the government will determine if the environment in the country is conducive for business. The social environment as well plays a great role in determining the success of the business. For instance, the music culture in the country complements the selling point of the latest handsets which are equipped with music players and high quality headsets. Finally, the economic environment in the country has a great impact on the business. With the growing economy and increase in the GDP, individuals have more disposable incomes and can thus purchase handsets from Star Mobiles Inc.

2.0 Implementation Strategy

2.1 Activities

The main activity in the implementation strategy of the marketing plan will mainly consist of assignments that will address who, where, how and when goals of the company will be realized. The activities of every member will be actualized and implemented within the implementation phase of the plan to ensure success.

2.2 Responsibilities

The hefty responsibilities in the marketing plan will be upon the managers who will be responsible for ensuring that the objectives of the plan are achieved and that they are achieved on time. The other members and staff within the company will make up team members who will ensure that the objectives of the marketing plan are actualized. These teams will work with fine goals that are molded from the main objectives of the marketing plan in ensuring that the plan is eventually successful.

3.0 Five Year Expansion plan

The company’s expansion plan is long term with the management of the company projecting an expansion that will take place for up to five years. In the plan, the company seeks to increase market share, increase growth of the company as well as ensure profitability all through. The main strategy in the expansion plan is to increase the customer base by selling more handsets to more customers. Once customers buy Star mobile handsets, they register online virtual accounts which will store personal content such as contacts, emails and media files. The customers will pay an annual fee for these services which will be treated as new revenue by the company. Within five years, this revenue from the collection of subscription fees is expected to increases the profitability of the company.

4.0 Media and Social Tools

In the development of the plan, both media and social media tools will be used. The company seeks to survey the needs of the market through mass media such as radio (Palen, Salzman & Youngs, 2000). In using the media as a tool, radio surveys through interactive sessions with listeners will enable the company establish the best plan. In addition, the social media, which is currently a popular tool for both businesses and communication, will come in handy while developing the plan. As such, the company will establish a fan page which will be used to observe and analyze customer trends as well as feedback and discussions from customers and prospective customers.

5.0 Potential for Overall Performance

The overall performance of the company will be related to the company’s marketing plan and objectives. Just as a recap, the objectives of the company include creating a guideline that will enable the company attain profitability. The plan is also aiming at ensuring growth of the company through brand identity. Finally, the plan will aim at establishing growth of the company in the next five years. These objectives will be achieved through ensuring that media and social media tools will be used in developing the plan. The competition facing the company being intra competitive will encourage innovation and creativity in the design and development of handsets as well as the software for the handsets. The teams working on implementing the plan will be working under supervision from managers and team leaders. These leaders will ensure that the objectives of the marketing plan are achieved in a timely manner.

6.0 Marketing Communications

The integrated marketing communications relevant to the marketing plan focuses mainly on the company’s advertisement strategy. The marketing communication includes direct marketing of the product to the clients, creating a strong and well recognized brand as well as strengthening the online presence of the company. With advertisement on mainstream media such as radio and TV, brand awareness and recognition is to be achieved. Supplementing the advertisement of the products on social media avenues will only work to strengthen the overall success of the marketing plan.

Marketing Plan

What Is A Marketing Plan

A marketing plan is a significant business document, which gives a description of the present position of the market for a business as well as the marketing strategy for a specified period as included in the business plan (Calkins, 2012).  It is worth noting that a marketing plan is a crucial part of a business plan. For purposes of the success of any business, the business strategist of a firm should gear the contents of the marketing plan towards the overall mission of the business or firm (Calkins, 2012). It is, also, significant to note that a marketing plan should address the sales/marketing tactics, financial situation, and product as well service lines of the business.   It should be clear that different firms or businesses usually have different marketing plans. This difference arises from the different missions that different firms embrace.

Development of a successful marketing plan entails assessment of a number of factors by a firm. According to Chernev (2011), the business requires having a record of its own strengths and weaknesses. In the world of business, there are problems as well as opportunities; the business should, therefore, beware of it internal strengths and possible external threats. It should, also, take note of its weaknesses and external opportunities.   The strategists can derive this record through conducting both external and internal analysis of the business. Situational analysis prior to development of a market plan has a resounding significance. This provides the business with information regarding the external environment, corporate review, competitive analysis, product category review, and brand review and consumer analysis (Chernev, 2011).  This implies that development of a market plan should be considerate of the regulatory policies, political influences, economic dynamics, social dynamics, economic dynamics, and international influences.  Corporate review in relation to developing a marketing plan may entail analysis of the mission statement, strategic intent, corporate vision, long term goals and corporate plan (Calkins, 2012).

The marketing plan should display what Calkins (2012) refers to as outside-in thinking. This implies that the business should conduct an analysis of its products and services with reference to the perspectives of the customers. This would provide an insight of what the customer wants. Besides, in order to develop a remarkable and successful marketing plan, the business should have accurate information about the target market.  Luther (2011) argues that the business ought to beware of its potential and current competition in order to develop a successful marketing plan. This is significant for helping to improve the position of the business in the market.  Through the marketing plan, the business should indicate its decisions on the way it intends to spend its resources on the market especially the target market. It is, therefore, significant that the business uses the information collects about itself, competition, markets, and customers to develop a marketing plan, which provides quantifiable objectives. The market/sales tactics, which the business employs should be effective enough to enable it meet and surpass its objectives. According to Chernev (2011), the business should implement the marketing plan within the required period and budget, and should measure its achievements basing on whether it met its objectives or not. It should, therefore, be clear that a marketing plan is a significant tool specially designed to provide assistance to the businesses as they compete for customers in the market.

Main Components Of A Marketing Plan

There are five main components of an efficacious marketing plan, which one should take into consideration.  The first component is the simplicity of the marketing plan (Luther, 2011).  The marketing plan should be well thought-out and impressive in terms of its size and scope. It should be easy to comprehend and be acted upon. It should, also communicate its contents in an easy and practical manner.  The second component of a marketing plan is the market focus (Luther, 2011). An efficient marketing plan should define the target market in a narrow manner.  This arises out of the fact that there could be many sellers in the market offering similar products. A marketing plan should therefore be discrete about the target market. It should define ideal customers or target markets in terms of classes of trade, geographic location, or trading channels (Luther, 2011).  For instance, the target market of a composter manufacturer might be environmental web sites, organic food retailers, farm stores, or various combinations. The third component of a marketing plan is concrete or measurable specifics (Luther, 2011). A reliable marketing plan should contain a lot of dates and other significant details.  It should contain strategies, details, programs and tactics. In the marketing plan, there should be a strong connection between the results and activities to result into hard numbers for measuring those results.  Therefore, the plan should be specific enough in the sense that it should have concrete and measurable objectives. The fourth component of a marketing plan is responsibility and accountability (Luther, 2011). It is worth noting that individuals are the ones who implement marketing plans, but not the groups or committees. Therefore, various parts of the marketing plan should be assigned to specific people for responsibility and accountability purposes. The fifth component of a marketing plan is the reviews and revisions (Luther, 2011). It is necessary to consider a marketing plan as a process of planning and not the actual plan. The process of planning entails establishing goals, quantifying results as well as tracing performance. For this reason, a marketing plan involves frequent reviews and revisions.

Main Purpose Of Developing A Marketing Plan

The main purpose of developing a marketing plan is to provide a clear indication of the kinds of steps, which the firm should undertake in order to achieve the goals of the business (Dugan, 2012). A marketing plan is helpful in the sense that it provokes firms to initiate specific products as well as services that can satisfy the needs of their target markets. A successful marketing plan is the basis of prosperous marketing, which would enable customers to understand why products and services of a particular firm are more appealing than the rest in the competition (Dugan, 2012). Therefore, a marketing plan is necessary for assisting a firm to access the target market (audience), increase its bottom line, and enhance its customer base.

In conclusion, a marketing plan is a significant business document, which gives a description of the present position of the market for a business as well as the marketing strategy for a specified period as included in the business. Development of a successful marketing plan entails assessment of a number of factors by a firm. The main components of a marketing plan are simplicity, market focus, concrete or measurable specifics, responsibility and accountability, and reviews and revisions. The main purpose of developing a marketing plan is to provide a clear indication of the kinds of steps, which the firm should undertake in order to achieve the goals of the business.

Marketing Plan For Waters Bottling Company

You are the new marketing manager to The Waters Bottling Company (WBC) of Munsonville, NH. They have never done any marketing for their water before so they will need to be educated as to the role of marketing in their company’s success. They started their company last year and want to “do it right” according to their president and founder, Dr. M. Waters. (The M stands for Muddy so he prudently only uses the initial. He also is rather fond of Blues music, which he would like to incorporate into the marketing plan in some way.) They want to sell their crystal clear, granite filtered mountain water to the “right” market. It is your job to identify that target market. At this point, they don’t even know how the product should be packaged or have a name to identify it. You will get to make that determination and carry that product through the entire Marketing Plan.

Imagination and creativity combined with solid marketing concepts will be the basic framework for your report. They will be relying on you for all of the details to make this product successful. They are well funded and ready to bring this product to market, with your help and guidance.

Use the attached Marketing Planning Guide to build your marketing plan for their naturally mineral rich pure mountain water. Be sure to relate the marketing concepts/ theories to this product/ company as you build the marketing plan over the length of the course. The competed sections of the marketing plan will be submitted in theDropbox for each module. Use each of the outline items as headers/ subheads for your analysis. Be concise and apply each of the appropriate concepts to the WBC scenario.

This must be in APA format must be at least 15 pages, 5 pages per section of the marketing plan guide, so you must do the first three sections. It should have in text citations and references to go with it. I have started the paper with the first section outlined it needs content and the rest of the sections outlined and done as well. It is due on Wednesday and cannot be late.

 

 

Stategic Marketing Plan.

Assignment Question:

The ‘Strategic Marketing Plan (Part I)’ as assignment one provides you with a hands-on experience in understanding the concepts related to the strategic marketing management and specifically in applying this plan to SportUNE. Additionally, this marketing plan will also enhanced your understanding of the opportunity analysis through critical aspects such as forecasting the market knowledge,market segmentation, targeting, differentiation and positioning. Please accessthe SportUNE’s website to retrieve more information about the business offerings www.sportune.com.au

  • ldentifythe relevance ofthe mission, SMART objectives and hierarchy of strategies for Sport UNE.
  • Define the industry in which your SportUNE will compete by assessing the industry’s five competitive forces and highlight the appropriate conditions for the strategic fit of prospector/analyser/defender/reactor strategies.
  • Discuss the market and industry attractiv enessthrough macro and micro level analyses in order to address the strategic challenges ofthe SportUNE’s business.
  • Briefly discuss the relevance ofthe marketing research forthe strategic decision-making ofthe SportUNE’s business and identify the influence of product, pricing, distribution and promotion policies on marketing decisions.
  • Describe the significance ofthe overall segmentation, targeting, differentiation andtpositioning strategies for the SportUNE.

Obviously some theories an concepts in Chapters 1- 7 will be more relevant to the Strategic Marketing Plan (Part I). You must choose which ones are more relevant and explain whythey are more relevant. You must apply the concepts and theories you have learned from your reading ofthe text to the Strategic Marketing Plan (Part I) analysis and
not just list or describe them. Please try to keep your assignmentwithin the total word limit.

You must use correct referencing of the textbook and other resources used in your assignment to passthe assignment. Use of more references may attract higher marks. Marks will be deducted for incorrect referencing and poor presentation (ie., spelling and grammar). lfthere is no referencing in your assignment it will be deemed to be plagiarism and the plagiarism policy will be enforced. You will receive a higher mark for applying a critical analysis to your discussion.

Please refer to the marking template below forthe way in which the marks will be distributed. Also referto the grading

Marketing Plan of any US company – Pricing Strategy and Channel distribution

Marketing Plan of any US company – Pricing Strategy and Channel distribution

1. Determine and discuss a pricing strategy (Penetration or Skimming).
2. Determine and discuss pricing tactics (Product line pricing, Value pricing, Differential pricing, or Competing against private brands) to be used for your product.
3. Identify any legal and ethical issues related to the pricing tactics.
4. Prepare a marketing distribution channel analysis identifying the wholesaler, distributor, and retailer relationships.
5. Discuss how the distribution strategy fits the product/service, target market, and overall marketing objectives for the company.

Business Marketing – Elements of a Marketing Plan Paper – Vonage

Socially, the needs for cloud communications services; not only businesses but also consumers, provided an opportunity for the founders of Vonage, who capitalized on it.Technologically, the desire of effective organizational communication services also created a business idea for the Company.  Many businesses that showed less growth organically, this created a technological opportunity. From this, the company was, therefore, able to build a strong foundation from which these businesses could achieve growth organically. Competitively, the need for iCore operations facilitated the company’s well positioning and efficient integration of the iCore operations into the Vonage platform (Davidson, 2007).

The purchasing patterns have showed declining patterns; it has been experiencing a shrinking target market potential. This is associated with the stiff competition that is heating up between the company and the Grasshopper. The competitors offervery competitively quite innovative unified communication solutions for smaller businesses. Small businesses, therefore, have diverted their purchasing patterns, others seeking preference to the Grasshopper company. The deviations in the purchasing patterns are associated specifically by the Company’s pricing structure; although Vonage offers a relatively more range of extensive pricing options, its lowest price is still giving its competitor a higher purchasing advantage.

On the environmental scan of Vonage provider Company, there are key trends that can influence the Company’s future. These trends are as a result of the environmental forces. For the technological,environmentalforce, there is the demand for hosted telephony services. This is among the small sized to the medium sized businesses. Evidently, this trend is growing at a tremendously high rate. Very many companies in the line of communication have therefore recognized the opportunity as well as the need to major on this trend. They are consequentially offeringtheir hosted Voice over the IP solutions thereby targeting the exploding small sized to medium-sized VoIP markets.

The many companies are much willingtoincrease effectivelytheir revenues as well as margins, but they need various alternatives to the significant capital expenditures. Vonage Company should not be an exception for it to be able to guarantee its future in the very competitive market. In response to this technological trend, Vonage has therefore offered what is knownas a turnkey, cloud-based VoIP platform whereby interested companies can build and at the same time brand advanced business VoIP solutions to start generating revenue in as few as just three months (Cherry, 2005).

On the social environment forces.  The demand for more efficient global social networks that can link the social aspects of the small sized to medium sized businesses is as well heating up. Vonage Providers unlike its competitor Grasshopper, has not capitalized on this trend and consequentially, this might have serious repercussions on the business purchasing patterns.

Economically, there is a trend in the pricing structures where most communications providers have employed a large extension of pricing option to choose. Vonage too has a relatively large extensive pricing structure that it offers its target markets. However, concerning the pricing structures, there is the issue of the lowest pricing structures. Since the target market ranges from the small businesses to medium sized businesses, the pricing structures should be in such a way that it provide room for the small price options.

Vonage competitive environmental forcesalso involve the many upcoming numbers of similar competitive communication providers companies. The key trend from Vonage’s competitive environment pertains to VoIP Market Position and Brand. There had been an increasing demand for these quality services. Vonage provider’s major source of its competitive advantage gets much associated with its capitalization on this trend. To the response to this trend, Vonage has evidently high brand recognition that has tremendously enhanced their ability to sell profitably their services through convenient direct and retail distribution channels. This has a consequential effect of allowing them to capitalize on their growing market demand for VoIP and broadband (Norris, 1999).

On regulatory, the trend has been on the innovative and Low-Cost Technology Platform. This has enabled Vonage to therefore to regulate their cost structure about traditional telephone and cables. They have done this by providing for an online billing as well as anautomated payment system.

There are many lessons I can learn from Vonage are many but most evidently is there level of innovation and creativity (Hülsmann & Pfeffermann, 2011). Their unique innovative ways have great significance in effectively achieving a competitive advantage in any business. Vonage has very educative business running strategies that can be employed by the upcoming communication businesses, of all this strategies, I can point out their unique abilities to create an attractive value prepositions while minimizing on cost. The other more evident lesson on their journal is how to effectively augment capacity at a very low incremental cost.

To Vonage, I recommend that they capitalize on the trend revolving the pricing structures. Their ability to improve the purchasing patterns of target markets is much dependent on it. Secondly, on service reputation, Vonage should consider the Installation of virtual phone PBX by the way of a private branch structure. It willget geared towards improving the company’s marketability. Finally, Vonage should consider strategies meant to increase its target market to include the large businesses.

MooStastic Company Marketing Plan and Sales Strategy

MooStastic’s Target Market

The diverse combination of the Raleigh, North Carolina population is a market segment in which there is potential sales of the non-alcoholic beverages especially the wide covering milk drinks MooStastic offers. The coverage of the distribution pattern of milk beverage supplied by MooStastic would be spread across the general population of Raleigh, North Carolina. This is because of the general acceptance of the milk drinks of the company across the young and the old of Raleigh City. This would cover a population figure of an estimated figure of 431746 of the general 9,848,917 of the entire North Carolina population. The supply and distribution of the company’s products will cut across the various Raleigh City, North Carolina religious population which constitute 46.41%of the population and even the non-religious population too (North Carolina, 2009).

The consumption of the milk drinks just like any other dairy product within this city has got no religious boundaries and would cover the 11.30% Catholic affiliates, 6.68% Christians and 0.99% LDS, 1.31% Eastern faith, 0.38% Jewish, and 1.14% who affiliate with Islam. The consumption coverage of the milk beverages produced by MooStastic would maneuver across the city’s ethnic composition of whites who constitute 57.5% of the population, 29.3% African Americans, 0.5%American Indians and Alaska natives, 4.3% Asians, and 11.4% Hispanics or Latinos. The beverages of MooStastatic is affordable across the varied income distribution of the Raleigh’s population from the lowest earning of $10,000-$20,000 which constitutes 9% of the Raleigh population to the high category of over $200,000 (5%) earners(North Carolina, 2009). Both the female (53.8%) and male (46.2%) composition of the Raleigh population is a target market at equal measure as the milk beverages have no specific gender affiliation.

Demographic Description

CONSUMER

Age range: 2 and above

Income range: $10,000 and above

Gender: Both males and females

Occupation: Not specified

Marital Status: Any

Family Size: Any

Ethnic Group: All

Level of education: Any

Home Ownership: Not specified

BUSINESS

Industries: Non-alcoholic Beverages Industries.

Sector: Milk Drinks

Years in Business: Six months

Company Revenues: Milk drinks sales, $1,000,000 for the past 6 months.

Number of Employees: 547

Number of Branches: None

Square Footage:97 square meters.

Company Ownership: Sole Proprietorship

The Company’s Market Competition

MooStastic marketing plan takes into account the competition posed by the market it operates, Raleigh, NC. The competitive analysis of the plan gives focus on the identification of:

Who?

The soft drink industry in Raleigh experiences a stiff competition from the various competitive firms in the market. The market of soft drinks in this market calls for a clear strategic positioning in which MooStastic would find its grounding to remain competitive and achieve continuity in such a competitive market (Fisher, Pride & Miller, 2014). The magnitude of Raleigh, NC soft drink competition comes from major firms like Variety Beverages Llc. which isa large producer of energy drinks, S & D Coffee Inc. Of Raleigh, Stockton Graham & Co., and Tasty Beverage Company Llc.

What?

The basis on which MooStastic Company competes takes a large spectrum of aspects. These include firstquality. The company puts lots of emphasis on the quality of its products to ensure that its consumers get value for their money as a result of consuming the best of all non-alcoholic beverages in the city(Luther, 2011).Secondly, the other area of creating competition is the emphasis of health concerns that the company has given much weight in making sure that the products the company produces has less health effects.

How?

The competition in Raleigh City’s non-alcoholic beverage firms has always been at its top notch. This makes the company to scale out its competitive edge in an explicit manner in which it maintains its market share and ensure business continuity. Though, the industry’s competition is high, companies like MooStastic ensures that it fits within such challenges in order to continue doing business in this market(Fisher, Pride & Miller, 2014).

Future

The potential future competitors of MooStastic Company are Grapes Expectations Wine, Variety Beverages Llc, Alternatives Wines Inc. and Ararat Import Export CO.

Barriers

The non-alcoholic beverage industry of Raleigh, NC experiences barriers to entry for the new competitors in particular areas. These include the huge capital needed for establishing the business which many among the new competitors find unsustainable. Another barrier is the expertise involved in the production of non-alcoholic beverages. Only a few firms and individuals have patents to these expertise and such production rights.

Another aspect of barrier to entry include the economies of large scale production. The Raleigh’s non-alcoholic beverages firms operate in a market with significant economies of scale which the incumbents have already exploited, thereby deterring new entrants.

Branding

MooStastic would explore on the elements of branding in order to heighten its competition against the market leaders within this market segment. The company would ensure that it develops a company’s brand, which include identity system, name and the messaging platform (Luther, 2011). The marketing strategy of branding offers a creation of a differentiated image and name with an aim of establishing a presence in the minds of consumers and make sure that they attract and keep customers. Branding ensures creating a bond among the various business partners and provide a basis submissive perspective from customers.

Market share Distribution

MooStastic is managed towards a plan to differentiate it from the entire competitive rivals in the market.

Competitor % of Total Revenues % of Total Units sold Trend of market Share (Increasing or decrease?)
Grapes Expectations Wine $208,622 65% Increasing
Variety BeveragesLlc. $153,827 73% Increasing
Alternatives Wines Inc. $99,027 49% Decreasing
Ararat Import Export CO. $156,345 58% Increasing
Pepsi Bottling Ventures LLC $255,000 44% Increasing

 

What Customers Want: The Five Fs

The company gets to understand, assess, analyze and conveniently strive to come up with what would be the exact need of the various customers.

  1. Functions: The milk drinks produced by MooStastic meet the customers’ needs by being put available in different flavors thereby offering a wide variety of consumers’ choice.
  2. Finances:The pricing of the company’s milk drinks is relatively cheap as compared to the prices of other non-alcoholic beverages in the market. The customers find the price affordable and with this low price they can save and invest part of their remaining earnings.
  3. Freedom:The choice that the company’s product to its customers creates a greater freedom among the customers. The easily accessible distribution units across the city helps in ensuring timely reach of the products to their respective customers. This helps them spend less time and resources to get the products and thus ease of life operations at a relax atmosphere.
  4. Feelings: The Company’s products heightens the bar to create a greater feeling from their consumption among its customers. The milk products are everybody’s preferred Non-alcoholic beverage and this per sie creates a higher self-esteem among its consumers. The affiliation that the customers create with the brand of the company’s products has made the customers to have respect for the salespersons and the entire company in general(Westwood & Institute of Directors, 2002).
  5. Future:the consumption of the milk drinks that the company has been producing has experienced an increasing trend in consumption as they are considered healthy and safe for consumption. This indicates that the consumption of the products would still be promising even in the future.

Among the Five F’s, Feeling is the most important motivating factor to ensure that the company’s target market make purchases. The feeling of safety, healthy and long living aspects of the Milk drinks make customers to feel part and parcel of the products and thus feel at ease purchasing similar products day in day out.

The Company’s Marketing Platform

MooStastic Company would exploit on the online marketing. The advancement in technology has been the basis of change in the world of marketing among the various competing firms in an industry. The online marketing has been advanced further with the emergence of social media category in reaching every aspect of the target market that businesses would want to incorporate in their system.

The Online Marketing Tactics

  1. Website: The Company’s website is the foremost avenue on which its products get to firstly create an impression on their consumers. The consumers would find every information they need on a product on the company’s website. The company’s website is set to maintain the company’s image and every information fed through this site holds the greatest level of credibility. The website is operated on the basic objectives of integrity and reliability.
  2. SEO/SEM: The Company will ensure driving of traffic through a paid search engine marketing. The company will lease such search engine from vendors at a fee to facilitate effective online marketing.
  3. Email Newsletter: The Company will provide a weekly email newsletter on the company’s new product, promotions among other operations (Westwood& Institute of Directors, 2002).
  4. Blogs: The Company has not contemplated using blogs, though there greater flexibility in its undertakings and incorporating such elements will just be instilled when deemed necessary.
  5. Social Media: The capitalization of the social media platform is an area that MooStastic would fully exploit as the IT world is changing to social avenues like Twitter, Instagram and Facebook for a worldwide exploration, information dissemination and networking.
  6. Other Online Advertising: MooStastic will invest in any other online advertisement as would be fit for the operations of the business.

Download full sample paper on MooStastic Company Marketing Plan and Sales Strategy or order a plagiarism free paper on a company of your choice at an affordable price. 

Interactive Marketing Plan

Executive summary

The soap and detergent company in this paper is a venture in an industry with established competitors. The paper details the mission statement of the company; develop quality products, systems, and plans in the cleaning services and products industry. This gives the company a platform of investing first in the products and later on in the services associated with the products. The company will begin with the soap and detergents but once the company is established, it will develop strategies to widen its portfolio. Products, promotion, place, and the price of the products will be manipulated in creating the market entry behavior. Unique products, more innovative and differentiated will be introduced in the market and tested in the light of segmentation.  Segmentation is closely related to the place aspect of the marketing plan. While place is a general reference, segmentation of the market is done with objective of strategic positioning of the company.

It is also vital to observe the role of technology in the business. It has an impact on the novelty of the products, efficiency in production, communication, and brand building. Two broad perspectives of branding will be employed in this marketing plan. First perspective is on product and second perspective on the company. The company will undertake the branding with the aim of creating a long term identity of the brand and the consumer. This is mainly referred to as the brand culture. Brand culture on the company and the specific products will enable the company overcome the possible challenges and completions in the situation of oligopolies. Specific products ought to be differentiated in creation of competitive heterogeneity. Therefore a strategic and intelligent relation of the product, place, price, and promotion will give the company a competitive advantage. In essence, the marketing strategy is a system made of sub systems. Each sub system is made of independent but also interrelated strategies. Differentiation strategy has an absolute characteristic, but it is related to the branding, distribution, and pricing plan. The plan is integrated.

Mission statement and company introduction

The mission statement of the company is to develop quality products, systems, and plans in the cleaning services and products industry. The mission is designed to capture the information in the vision and strategic objectives of the company. The company endeavors to communicate will all the employees the mission and the logic behind it. This sets the entire organization to a specific vision and eliminates any form of ambiguity over the identity of the company. The manufactures soaps in solid and liquid form, and detergents. This is a new company in the cleaning services and products industry (Dearden, & Kowalski, 2003; Wang & Yang, 2011; Iacobucci, 2013).

Company’s branding, pricing, and distribution plan

The company will undertake the product and company branding. The branding on products will focus on special aspects associated with the specific soaps and detergents. Company branding will consider the vision, the mission, and the objectives of the company. Pricing of the products is determined by the costs, expected profits, the competitors, and the market segment. Distribution will initially be done  by collaboration with the existing distributors. The company will however recruit its direct distributors in the process.

Company’s major competitors; strengths and weaknesses

The price and the quality are the abstract references to the competitors. The companies that share product characteristics may invest in innovation to widen their portfolio. Increased product differentiation distinguishes the competitors into market colonies of specific products.

Strength

The company has a strong fixed capital a factor that guarantees supply to the market as long as the production variables are available. The products are open to a wide variety of changes in terms of color, shape, packaging, smell, and chemical compositions. Therefore it is possible to meet varied consumer tastes.

Weakness

The company operates on casual labor, mostly the distribution and conveyer operators. The labor coherence, transition, and labor turn-over is likely to be high.

Differentiation strategy and The Company as a leader in the industry

The extent to which the company distinguishes itself in the market determines whether it becomes the lead company or the follower. Smythe and Zhao (2001), Boyaci and Ray (2003), and Iacobucci (2013) detail three systematic aspects on differentiation strategy.  First is the optimal market structure. Companies exhibit perfect competition and the products are homogeneous. This is where several companies produce similar products. Quantity and constancy in supply is the differentiating factor in such a scenario. The second aspect is the imperfect competition structures. This is where the companies produce heterogeneous products though within the same category of products. In this case, the product prices do not determine the changes in the market structure. The third aspect on differentiation strategy is welfare maximization. This aspect befits a company that has been in operation for long. The business is established and the company sustains its brand through strategic corporate social responsibilities. Welfare maximization is also potent for horizontal mergers, entries and public offers (Smythe & Zhao, 2001; Boyaci & Ray, 2003; Iacobucci, 2013; Utama, 2007).

In the light of the company under consideration, heterogeneous and homogeneous aspects of differentiation will be employed in the first years of operations. The company will concentrate on innovative products and first mover effect. It will be expected that new innovative products will create faster market share. Consistency and bulk productivity will be significant in meeting the competition (Smythe & Zhao, 2001; Boyaci & Ray, 2003; Iacobucci, 2013).

Effects of salient macro-environmental issues on marketing strategy

The business development plan observes competition, politics, legal issues, and technology factors as salient macro – economic factors. Domestic and international competition in the industry may affect the marketing model of the company.  This is because changes in the demand and supply of the production factors may impact on the quality and the quantity of the detergents. Some of the chemical are imported from abroad, whereby the international market may affect the variable costs and eventually the price of the products. In this case, if the competitors will not experience the same effect on the variable costs, they may have an upper hand in terms of quality and quantity. Political issues affect the market mainly in terms of fiscal and monetary policies. For instance, if there is high taxation on the products the prices may also increase. If the market does not have the purchase power, the sales may reduce.

Taxation policies, inflation, political stability, and the general business environment are inclined to the political system of the country.  Legal issues that pertains to company registration, acquisitions, partnerships, mergers, franchising, Initial Public Offers, and licensing have direct effect on the present running of the business and the prospective development plans. For instance if the company plans to merge with a complementary company, the legal procedures must be invoked, and its salience determines the success of such a process. Technology affects the efficiency of production, communication, and advertisement. Innovation is significant in coming up with high quality products that meet the market demand. Technology is vital in product differentiation. It provides the means by which products can be advanced and be differentiated (Iacobucci, 2013; Smythe & Zhao, 2001; Stonehouse & Snowdon, 2007; Jondle, Maines,  Burke & Young, 2013).

Possible significant trend that will impact the business

The technological trends will significantly impact the business. First, it will enhance communication within the company and outside the company. Second, technology is responsible for innovations in the industry. Innovation is fundamental in making homogeneous or heterogeneous products. The two product characteristics are significant in product differentiation. Therefore, technology will create competitive advantage (Iacobucci, 2013; Smythe & Zhao, 2001; Stonehouse & Snowdon, 2007).

Implementation strategy

5 year expansion plan

The five year expansion plan of the company is derived from the overall marketing strategy. Utama (2007) and Iacobucci (2013) showed that market and product development ought to be based on the initial plans that the company sets forth. McLean (2005) observed that organizational development strategies must exhibit a robust continuity plan. This manifests in its market share, the specific products and services, organizational units and the management structure. In light of the company considered in this study, expansion plan will consider the product, place, promotion, price, customer, competitors, and collaborators. The following table will detail the strategy.

 

Time

Organizational aspect

Description of the strategy

Remarks

The 5 year plan

·         The five year plan is a continuous process that is developed from the first year of business implementation.

 

·         In essence the description of the strategy spells the target of the company within the five years.

·         In some cases, the company may achieve the targets before the expected duration.

i.            Product (types)

 

 

ii.            Place

 

 

iii.            Price

 

 

 

 

iv.            Promotion

 

 

 

 

 

 

 

 

 

v.            Customer

 

 

vi.            Competitor – specific companies will be targeted. Dividing the companies into the categories of most competitive, less competitive, least competitive

 

vii.            Collaborator

 

 

 

 

The fourth “C” Company will be factored in the competitors section

·         3 solid soaps, 3 detergents

·         20 sq. km within the locality of the manufacturing plant

·         95% of the mean price of the competitors in the location.

·         Discounts, live product crusades on roads, printed A4, A3, A2 and smaller banners, internet,  billboards around in the least promising segment

 

·         Domestic households

 

 

 

·         Target lesser and least competitors

 

 

 

 

 

 

 

 

 

 

·         Existing distributors, getting sales representatives from the competitors

The company must ensure that the factors are put into operation in a harmonious manner. For instance, pricing must consider the place, and the nature of the product. In this study place will be determined by the segmentation plan.

 

Further, segmentation will be done in light of the positioning and targeting plan of the company.

 

The competitor may have better pricing but consideration of improved quality and quantities have a counter effect on the competitors pricing.

 

The industry has competitors with homogeneous products and services therefore other factors such as consistency of quantity and quantity become critical.

In industries of perfect oligopolies the continuous supply of products and services creates trust in the company.

 

 Social and media tools

The company will consider two levels of social and media tools; real market media tools and virtual market media tools. The real market media tools will include, print posters of various sizes, banners, bill boards, communication via the radio, television, and promotion activities. The virtual market will target online communication channels. The websites, social media, and the blogs will facilitate in reaching out to this market. Virtual communities are fast creating a virtual economy. People can access information about the products of the company, order or buy the products. In light of this strategy, the company will use the online communication channels as means of communication and a platform for marketing. Other aspects such as online stores, orders and transaction will be instituted later phases of business development.

Performance standards, monitoring methods, financial controls, and Overall performance of the company

Hill, Perry and Andes (2009) and Smythe and Zhao (2001) hold the view that liquidity, profitability, leverage and qualified opinion are vital in standards, monitoring, controls and company performance. Liquidity is cash on total assets. This will be critical in the detergent and soap manufacturer. The company will establish a system of production by purchase of plants and machinery. These will form the fixed costs of the company. Profitability is determined by the difference in income and the costs. Leverage of the business is the ratio of total liabilities and total assets. Profitability of the company will increase if the variables costs reduce but the quantity remains the same or increases. This is achievable by buying low cost production materials; reducing the variable costs. Monitoring the trends in the variable and fixed costs will facilitate in calculation of the marginal costs and marginal revenues.

 

Integrated marketing communications

Williams, Petrosky, Hernandez and Page (2011) Wang and Yang, (2011), Durham and Kellner (2006), and Iacobucci (2013) detail how marketing must be strategic both in terms of meeting the immediate need of the business and the long term, sustainable markets reach. The immediate plan of the business is to take the product to the market and get the reaction to the products. The long term marketing plan will entail initial market entry behavior, product culture creation, and customer identity with the company. Business market entry behavior is critical in creation of the first impression and first mover effect. Therefore the marketing communication must meet the highest possible standards. The communication ought to envisage the following factors. First is the product. The market must get the accurate information about the actual product that the company is selling. The consumer may not know the company, but the manner in which the product is described should be able to attract the customer. Second is the company brand name.

The communication ought to market the company that manufactures the product. However, the company must take caution to balance between the image of the company and the product. For a new company, products should be given prominence while for an already established company, the market may identify with the new product because of the company brand. This is referred to as the brand extension effect. Third factor to consider is the means and medium of communication. This is closely related to the segmentation strategy of the company. A market segment that relies on popular mass media may be reached via printouts, bill boards, radio, or television. Market segment that relies on the internet are better reached via websites, blogs, and social media.

As indicated in the marketing strategic plan, the company will adopt different medium and means of communication at different stages. For instance in the first year of the business, it may not advertise on television. This is because the target market may not have the national outlook. The other means of marketing is the use of marketing executives. This are employed or contracted persons with responsibility of marketing the products and the company. The marketing strategy must find harmony and steady coordination so that the communication is coherent and sustainable. The company ought to develop a strategy of having a long term impact on the consumers. The market should be cultured to identify with the products air the company (Williams, Petrosky, Hernandez & Page, 2011;  Iacobucci , 2013; Wang & Yang, 2011;Durham, & Kellner, 2006; Utama, 2007))

Developing Competitive Advantage Through Strategic Marketing Planning

Developing Competitive Advantage  Assignment Instructions

Your company is embarking on a Strategic Planning Process taking a 3-year view. You are responsible for the strategic marketing part of the plan and in particular the area of developing  future competitive advantage.
Wilson, R. M.S., Gilligan, C., and Pearson, D. (1992) describe the first 3 stages of the strategic marketing planning process thus:

  • Where are we now?  (Strategic and marketing analysis)
  • Where do we want to be?  (Strategic direction and strategy formulation)
  •  How might we get there? (Strategic choice)

 

You are expected to create a formal paper for your board and your marks will be based on the relevance of this paper to the following:
You will be assessed on your ability to:

  1.  Critically evaluate the company’s current strategies for sustainable competitive advantage
  2.  Set out the desired competitive position 3 years from now
  3.  Offer clear recommendations on what the company needs to do to achieve that position
  4. Write a logical, well-presented and accurately referenced piece of work

 

The  paper should be 2,500 words.  You are strongly advised to keep your work relevant to the subject matter.
Key sections with suggestions as to word count:
Contents Approximate Word Count Weighting
1. Brief summary statement of the economic environment your company is likely to be operating in 200 10%
2. Where are we now?
Evaluation of current competitive advantage 650 25%
3. Where do we want to be?
Our competitive position in 3 years’ time 900
30%
4. How do we get there?
Clear recommendations on what the company needs to do to achieve 3. above 750 25%
5. Bibliography (not included in the word count) 10%
3. Submission instructions:
You must submit ONE SINGLE FILE written in Arial 12 with one and a half (1 ½ ) spacing and the text should be justified. You should also include a cover page that has the following information:
• Edinburgh Napier University
• SOE11140 Marketing within the Global Economy
• Project 2 – Marketing
• Your own matriculation number (no names, please)
• Your word count
Note: This is a marketing project and not an economics project. Your marketing lectures will cover the theoretical content and higher marks will be awarded for evidence of wider academic reading.

Marketing Plan and Sales Strategy

C.O.R.E (Clearly Organic Refreshing Elixir) has come to the market with a non-alcoholic beverage to address the health concerns of customers. Many consumers today need products that have high nutritional caloric value and that can help solve their obesity problem. C.O.R.E is here to produce a deionized water served in a 20 oz bottle with the cap containing dehydrated contents of the elixir which have various health benefits. The company demonstrates great concern for health and this is depicted in its mission statement which reads, “C.O.R.E. is committed to providing wholesome and healthy refreshment for the body and the “core” of one’s being. It is our desire to develop a foundation of health and prosperity that will impact all of the lives that we touch and influence.” C.O.R.E’s factory and bottling location is in Richmond County, in the state of Virginia.

C.O.R.E’s target market will be consumers aged between 18 and 40 years and who need fewer calories in their daily diet. These customers will have to be health conscious and who are ready to maintain regular fitness. The company’s target market is largely located in gymnasiums and fitness centers across Virginia and who make regular purchase at the health stores and markets within the region (Kotler, 2000). This group of customer will be of any education level provided they are health conscious and ready to maintain regular fitness. C.O.R.E will also target customers in College campuses located in Virginia such as Virginia Tech and the University of Virginia. According to the United States Census 2010, the total population of Virginia is 8,001,024. With this large number, a better part of the population is likely to consume C.O.R.E’s non-alcoholic beverage. The company’s local market located in Richmond within hundred mile radius of the bottling factory is likely to provide a good market for C.O.R.E product demonstrated by a large population of 9, 254.

C.O.R.E is a unique brand that lacks competition in the non-alcoholic beverage market. Even though large companies like Coca Cola and Pepsi have served customers for quite a long time with their soft drinks, their products do not meet similar consumer needs as C.O.R.E’s product. C.O.R.E offers a nutritious alternative to other high calorie beverages and juices. It is therefore suitable for customers who need low calorie in their diets, a need that no other company in the non-alcoholic beverage industry can satisfy. Additionally, C.O.R.E offers a non-alcoholic beverage that is suitable for weight management because it is capable of burning body fat. The soft drinks produced by other companies in the industry like Coca Cola and Pepsi do not burn body fat and therefore cannot compete against C.O.R.E. However, the company must be prepared for rigorous competition which may arise once it is established in the market (Kotler, 1994).

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Wolverine Software Inc. Marketing Plan Example

Wolverine Software Inc. Marketing Plan

Product Statement

Wolverine software Inc. is a mid-sized corporation in the first year of its being with a new ownership and administrative team. It’s currently operating a private entity. The company is currently producing workforce management software that is used for specifically tracking projects and employees, with almost 1000 clients in every organization imaginable. The business is not stable and it keeps on fluctuating due to decline and growth of the economy since one of the major profit margins for the company is a SaaS i.e. Software as a service design in providing the software.

 

Contextual Analysis

The SaaS is put on the company’s sever and clients are charged on monthly basis depending with the number of employees accessing the system. A major challenge experienced by the company is how to increase stand-alone installations to help avoid fluctuations in cash flow, which could be attained through selling the software outright to clients and charging a license fee for the number of employees registered in the system. To improve the strategic analysis and marketing plan for the company, a comprehensive SWOT analysis was conducted. This detailed plan will basically focus on a strategy to enhance the company and find means to advance relationships with present clients, upgrade the software version to further better manage the needs of the target market and benefit from the newer technology opportunity.

Environment Analysis

From an environmental analysis, an entrepreneur software programmer that had a good idea to bring it to life invented Wolverine Software in the year 1996. He decided to move to something else after sixteen years elapsing and sold the business to the current leadership. The software possess distinct status in the market place as one of the first to offer a SaaS model for clients that may have the required infrastructure to support installed software in their environments.  The program in particular tracks employees by use of time clock software, collects and calculates hours based on the complex business rules specific to every client and also possess direct exporting functions so that the data gathered and calculated can be used to process paychecks for the employees.

Customer Analysis

To know how better to reach out to new clients, and to better understand their motivating factors in the search for new time and attendance software, Wolverine needs to conduct current customer surveys and market research to establish benchmarks, that will help find their strengths as perceived by clients (Eisenberg&Eisenberg, 2006). The focus should be on customers and their continued satisfaction and loyalty and to do that the company needs to stay abreast of the needs of current and future clients (Mittal&Frennea, 2010).

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Marketing Plan for a D’Body Herbal Body lotion

Branding strategy for your product for D’Body Lotion

The D’Body brand is among the most recognized skin and beauty care brands worldwide. D’body Incentive Herbal Lotion was established in 1940 and the D’body brand now covers up to nine product varieties ranging from facial moisturizers to sun care and body lotion products. Since Millan Limited, the company that owns D’Body Incentive Herbal Lotion, launched the product; the company has constantly focused on developing natural, safe, and innovative remedies for skin rejuvenation. In 2001, Millan Limited Company received an ISO 9001:2000 certification. The brand name depicts the fact that the body lotion gives an individual a wholesome healthy skin and the confidence to handle everything since one is sure they look amazing. With time, D’Body has developed a range of skincare products namely D’body Intensive Herbal Lotion, Protecting Body Lotion, and Nourishing Body Lotion. The growing public acceptance of the D’body products in the market is tremendous. The brand developers successfully used the available knowledge of skincare market to create natural products that help soothe irritated skin and maintain skin glow.

D’Body brand adopts two types of extensions namely brand extension and line extension. These authors identified two approaches to brand definition. D’Body Incentive Herbal Lotion brand is the driver product whereas D’Body Nourishing Body Lotion brand is primarily the identifier product.

The slogan

The slogan gives the customers an insight to the company’s objectives (Armstrong, G., Kotler& He, 2000). D’body brand focus has always been to create products that both their male and female consumers can relate with and enjoy constantly over the years. Their main objective is to produce a product that transforms the consumer’s skin soft and impeccable. This objective has been depicted in the several slogans that the company has used over the years. Their initial slogan was ‘’for the skin you deserve’’ while other slogans followed, such as ‘’naturally flawless skin”, ‘’your skin, our business’’, ‘’making you stand out’’ and ‘’get your groove on’’. The slogans are incentives that enable the brand leave a memory in the customer’s mind and it helps the customers to relate to and understand the product.

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Marketing Plan: Star Technologies – Sample Paper

Marketing Plan: Star Technologies

  1. Executive Summary

Star Technologies is a small family-owned company that specializes in the development and sale of custom-made calendar software and other technological products to more than 100 businesses. Companies use the software-based calendars for promotional purposes. The company is based in Orange County, California. It has 20 employees. However, it faces scheduling problems since its business is seasonal. It usually has high demand between October and December. Its staff is usually idle in the other months due to low sales in the months. One of the major challenges that the company faces is formulating strategies that would help in increasing its profits in during the off-season. As such, an evaluation of the company’s strengths, weakness, opportunities and threats would help in determining the most efficient strategy that the company should use to increase its profitability (Pride & Ferrell, 2012). The above factors act as the foundation of this marketing plan.

  1. Environmental analysis
  1. Marketing environment

Competitive forces: There is very high local competition in specialty advertising industry, which is Star Technologies’ main industry of operation. However, competition nationally is weak. It is difficult to obtain the sales figures for the entire industry since most business do not engage in business on a national scale. Paper calendars hold 90% of the market share with many different companies sharing the 10% market share of the software based calendars. However, the software-based calendar market is expanding rapidly. Star Technologies has a 205 market share of the software-based calendar market.

Economic forces: The need to reduce expenses has necessitated companies to reduce their promotional budgets. However, a significant proportion of companies have cut their budgets for mass media advertising. Most companies have increased their efforts on specialty advertising as one of the major means of sales promotion. This is due to the fact that specialty advertising enables companies to receive more value for every promotional dollar.

Political Forces: Any political forces would not influence the operations of Star Technologies in the near future.

Legal forces: Specialty advertising is usually distributed through mail. However, most parties consider some of the products as ‘junk.’ As such, Star Technologies’ products are classified as junk. In the future, there may be legislation to regulate advertisements delivered through mail. This would affect Star Technologies operations.

Technological forces: An emerging technological trend is the use of the tablet computers. Tablet computers enable users to store a wide variety of information. Software-based calendar products would continue being adapted to fit this technological trend.

Socio-cultural forces:  In the contemporary world, consumers usually have very little time for leisure. Ease of use is the major factor that makes products be successful. Consumers ignore products that do not enable them save time. Software-based calendars fit with the paperless society trend. They enable customers to automate their repetitive tasks.

  1. Target Market

Commitment to service and quality has enabled Star Technologies to implement a niche differentiation strategy. This has differentiated the company from other products in the industry. The primary target market consists of large corporations that use brokers or dealers to sell their products. The secondary target market of the company includes small companies. Star Technologies’ most profitable product is a calendar product that can be used by a PC. Customers can customize the product using artwork, logos or text. Customers can purchase the product online or purchase a disk that disk that contains it. However, most of the sales are online. Star Technologies advertises its products through social media and online advertisements. It charges large corporations $100 to acquire its products. Star Technologies is the market leader in the sale of software-based calendars. Offering high quality products is one of the major factors that have made the company have a competitive edge in the industry. Star Technologies collaborates with vendors in the sale of its products.

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Marketing Plan Proposal Draft

Sometimes, brands need to be repositioned in the marketplace for a variety of reasons, from gaining new market share to creating an image. You have suggested this during your previous meetings with your client over the last few weeks. As the marketing consultant for your client’s brand, the management team has requested a  marketing plan proposal draft

Some of the information you already know from working with your client for a few months. Other parts you will have to research and create now. You will have your colleagues and the client review most of it before completing the final sections of the plan and submitting it to the client for final review.

The first marketing plan proposal draft must include the following sections:

  • Situational Analysis: Include the current industry, market size, growth potential, competitive environment, and future opportunities.
  • Product Positioning Strategy: Choose a positioning strategy for your product designed to change the perception of the current product by the targeted customer group.
  • Customer Profile: Include the details related to your customer’s demographics and psychographics.
  • Marketing Communications: Include 1 message appeal by designing an advertisement for your target market and 1 communication channel for delivering the message to your target market(s). Explain why this message and media matches your target market.
  • Distribution Placement Strategies: Include at least 2 distribution options/channels to get the product to your customer. Explain why you chose these channels.
  • McDonald’s is the brand to use
  • also include intext citation and references please

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Develop Social Media Marketing Plan

Drawing on the concepts, skills, techniques and learning of the course, plus personal experiences and observations, you are an expert Social Media Consultant required to develop a Social Media Marketing Plan for an organisation which either has no Social Media  presence or a poor one. Alternatively, your plan could focus on an existing (or newly-launched) product or brand within the organisation. The term ‘product’ is used in its widest sense and includes physical goods, services, destinations, people, ideas etc. The organisation may be a business or not-for-profit organisation. It should have at least 5 employees or a minimum turnover of $0.5m and can be chosen from:

· A company/business you are familiar with through current or previous employment
· A product or brand discussed in class
· A company/business of interest, even if you have had no direct connection
· A current high-profile company (e.g. featured in business press)

social media marketing plan
social media marketing plan

It does not have to be Australian but, if it is an overseas company, it must have a website and/or social media presence expressed in English with appropriate referencing. It should be chosen because it has little or poor current Social Media presence and you consider it needs to implement an Social Media Marketing Plan to become more relevant in today’s world.
You should avoid choosing a multi-national organisation unless you focus on a single country where they have a presence.
If it is a very large company, you should focus on a single business unit to be realistic.