After choosing a suitable communication vehicle, cost of the process should be matched with the budget and adjusted. This helps to improve the convenience and support of the staff and also helps to understand the mix of marketing. Only a particular segment can be targeted to focus.
Target market may be same where company providing their services from last so many years or it can be new market that leads expansion plan of the company. An organization should choose the best channel that can enable it maximize on its profits Porter The threats for the marketing plan are the major competitors, governmental regulations, changes in customer attitudes and other important areas.
The SWOT analysis and the purpose of the marketing plan have been discussed in the paper. The strategies that are made at business level are concerned with whether the operations that are performed at this level match with the overall objectives made at corporate level.
It is not possible for the entire segment to accept one strategy. Frequency of the advertisement in TV can be kept at minimum during the week days and maximum at weekends when children are staying at home watching TVs.
They try to introduce attractive product to the customers. Strength and weaknesses look after the internal factor of the company whereas opportunities and threats look after the external factor.
These are prepared in relation to the products and services that are sold that result from marketing strategy implemented through marketing programs. The quality of the product also creates value Singh 5. Even businesses that start as innovators in their field soon find themselves with competition.
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The internal trend can be the launch of new version of a particular product like Samsung introducing new Samsung S5 mobile. Market led Stategic Change. The marketing strategies must take place within the mission, vision, and objectives of the business.
Marketing objective The basic strategy of a business is to determine a business objective. These include target market objectives and market shares- total number of new or retained customers and rate and size of purchases made in a business. The business plan includes details about the marketing and financial perspectives.
Product identification involves knowing the identity of a product from its source of production, raw materials used in production, work —in- progress, finished product storage and the delivery of the products to the customers.
Competition When preparing marketing plan one should take into consideration the reasons that make a customer prefer a product from one business as opposed from its competitor. Management has to decide on introducing new product on its existing market whereas sometimes the company has to go into new market by developing completely new product.
Thus, there has been a focus on the assumptions of marketing strategy. This is the corporate strategy of the company. Market The size and mark up of a market is determined by the products being sold in a business.
Different age group like children, youth, adult and old is made. These resources will assist the company to react in the dynamic condition. Only clear sets of goals give a proper direction to the company. Pay only for approved parts Marketing Strategy Essay: Work should be evaluated by using external consultants.
There are most importantly two important measures for identifying the competitors. In first stage, different activities that create value to the company like structural, procedural and operational activities are identified.
As discussed earlier, corporate strategy is focused more on profitability. If the value is not cost effective, the product may not be suitable for the company to produce. In general, corporate strategy defines the overall mission of the company.The plan analyzed the product offering and life cycle, marketing strategy, target market, positioning, marketing mix as well as implementation and control.
It also made use of strategic clock, BCG matrix and Ansoff Matrix to help evaluate the strategic direction of the company and proposed recommendations.
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Companies. Marketing strategy assignment essay on: Marketing plan for business. Introduction This paper Consist information about marketing plan that focuses and provides in depth information on definition of marketing plan, role and nature of marketing plan, relationship between marketing plan and business plan, structure of marketing plan, elements of marketing plan and their relevance in the marketing.
Free Essay: The Major Marketing Strategies Most of the major marketing strategies can be classified into one of the following four categories: * Product *. The purpose of this assignment is to investigate as a marketing manager that what is marketing & what is the process involved in developing market.Download