Marketing plan assignment sample is worked out to provide an example of the plan that will help to define the further directions of the company and identify its primary needs to achieve the stated aims. Marketing plan consists of the particular sections that include: market research (gathering and classifying the current data about the market of the the organization as well as its dynamics, customers, competition, and the current sales volume for the industry as a whole), market plan strategies (include advertising, direct marketing, training programs, trade shows, website), marketing plan budget (means that top managers need to review their current financial situation), and marketing goals (monitoring of the marketing plan results). Besides, the organization needs to identify the strategies that are working and those that are not working.
Before performing the marketing analysis, an understanding of the core term has to be achieved. Thus, market research means gathering and classifying the current data about the market of the organization. Besides, a short introduction to the company itself has to be performed. The company PeopleAhead works with the improvement of the career advancement. Particularly, it provides a basis for the potential employees to find, advance, and develop the careers they already have by sharing their aims, holding conversations on their professional opportunities and development plans, and communication with other professionals in the related areas.
On the basis of the examining of the market dynamics, customers, and the current sales volume for the industry as a whole, it has been revealed that the company currently helps people with the career advancement and improve the human capital in the organizations. The website of the company acts as a networking platform for the professionals and career matching. The market dynamics is reported to be positive. Besides, the company has its constant customers and productive sales.
The examining of the competition will be focused on the small and medium businesses as these entities are underserved by the great competitors in the online recruitment market. Simultaneously, such choice stems from the fact that this demographic has a less effective recruitment procedure that would cause advantages mostly from the services of PeopleAhead. Within this segment, the HR managers are responsible for the sourcing of the applicants.
The market plan strategies are the following: the company will become the leader of the career advancement online service where people would create a history and establish the connections in the place that would make the company a staple among the chosen websites. The company will deliver the professional development and the career opportunities to provide people with the opportunity to create the professional records and useful career advancement instruments.
The marketing plan budget is the following: the overall cost structure would include the administrative and general operating expenses, the sales agent salaries, and marketing. The first year, marketing monthly costs are considered to be $6,250. Monthly overhead is expecting to achieve $24,750 and be constant.
The marketing goals are: to use the brand matching technology; to establish a critical mass of the customers; to drive the traffic to the site through the marketing blitzes; and to start using the word-of-mouth advertising from the satisfied customers. Monitoring of the marketing plan results has to be performed as well.
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Back to blogJan 17, 2017
Filed under: Writing Tips — Tags: marketing plan, marketing plan sample — Joan Young @ 4:57 am
ASSIGNMENT ON MARKETING MANAGEMENT
- one or few products, relatively undifferentiated
- Generally high, assuming a skim pricing strategy for a high profit margin asthe early adopters buy the product and the firm seeks to recoup development costsquickly. In some cases a penetration pricing strategy is used and introductory pricesare set low to gain market share rapidly.
- Distribution is selective and scattered as the firm commencesimplementation of the distribution plan.
- Promotion is aimed at building brand awareness. Samples or trialincentives may be directed toward early adopters. The introductory promotion alsois intended to convince potential resellers to carry the product.
The growth stage is a period of rapid revenue growth. Sales increase as more customers become aware of the product and its benefits and additional market segments are targeted.Once the product has been proven a success and customers begin asking for it, sales willincrease further as more retailers become interested in carrying it. The marketing team mayexpand the distribution at this point. When competitors enter the market, often during thelater part of the growth stage, there may be price competition and/or increased promotionalcosts in order to convince consumers that the firm's product is better than that of thecompetition. During the growth stage, the goal is to gain consumer preference and increasesales. The marketing mix may be modified as follows:
- New product features and packaging options; improvement of productquality.
- Maintained at a high level if demand is high, or reduced to capture additionalcustomers.
- Distribution becomes more intensive. Trade discounts are minimal if resellers show a strong interest in the product.
- Increased advertising to build brand preference.
The maturity stage is the most profitable. While sales continue to increase into thisstage, they do so at a slower pace. Because brand awareness is strong, advertisingexpenditures will be reduced. Competition may result in decreased market share and/or prices. The competing products may be very similar at this point, increasing the difficulty of differentiating the product. The firm places effort into encouraging competitors' customersto switch, increasing usage per customer, and converting non-users into customers. Sales promotions may be offered to encourage retailers to give the product more shelf space over competing products.
RAHUL GUPTA, MBAHCS (2
SEM), SUBJECT COCE- MB0030, SET-2Page 3