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Marketing plan related academic resources e.g essays, assignment instructions and sample answers, research papers, article summaries , movie and book reviews e.t.c

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.

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