Marketing Plan
Student’s Name
Institutional Affiliation
Introduction
It is important to have the right products in the right place so as to achieve the objectives of the company. The main objective of the company for every product is to make a profit. For this to be successful there is a need for an effective marketing strategic plan that ensures the products get to the right market. Market research is an important part of the business plan as it allows the business to gain a substantial positioning statement of the whole business and there is actually evidence that the products are profitable in the actual sense. It also creates a path for ensuring that there is a sales plan and strategy in place.
Analysis
How the marketing plan targets the market segment
The planning process allows the marketing team to understand the customers so that they are able to create a great need in the customers’ minds. They also understand the products and increase their base so that there are many loyal customers to the products (Raychale, 2018). The planning process also allows the discovery of what works for the business and also a great understanding of what the competitors are doing. Through this, the customers understand why the product is unique compared to the rest. The market plan will show the market segmentation and target market for a rabbit meat eatery, rabbit palace. The market plan will give an overview of the whole business.
Positioning statement
For the healthy desires of many people in the population, Rabbit Palace is an eatery that delivers the best prepared and cooked meat in the region and connects people with their desires to eat healthily and make healthy choices. The experience in the eatery gives one an amazing choice from other meat choices and provides enough nutrients that help to rid malnutrition.
Definition of the product
With many of the Americans taking healthy choices of food, there has been an increase in the consumption of white meat which is proven scientifically to have health benefits, unlike the red meat which is perceived to have harmful effects. Rabbit Palace will provide quality services and products by ensuring that the rabbit is acquired from the company's farm hence the rabbit have been reared under specific conditions hence they are good for consumption by the customers. The value addition will be the main source of income as the rabbits have four products including meat, skin, fur, and fertilizer in the form of manure.
The eatery will sell the meat and will have products such as roasted meat, fried and boiled meat, sausages, bacon and also rabbit stew served with carbohydrate and some vegetables. The eatery will also have a butchery that at the back to sell excess meat to customers and those customers who love cooking at their homes and also other customers that have businesses such as restaurants and processing industries.
Pricing strategy
The rabbit market is an upcoming one as there is still a potential market for rabbit meat. The company will, therefore, use different pricing strategy depending on the product as the market may have a different affinity for the products. Premium pricing would suit the cooked meals as the customers will have a taste of the meat hence this strategy ensures that the products are effective and the customers are able to understand their worth (Woodruff, 2018). This will also ensure the quality of the products hence the business will be committed to developing high-quality meals to meet the expectation of the customers.
There are other strategies that can be used to ensure that the products gain a strong customer base such as penetration strategies. These are strategies that offer low prices for certain services to draw attention from the competitors to this particular product (Woodruff, 2018). The increase in awareness also maximizes the profits and ensures that the company has a strong customer base before increasing the prices. The products that will focus on this strategy will include the waste materials from the eatery which will serve as a value addition for the company such as the skin and the fur. This will ensure that manufacturers are attracted to the products and they can actually purchase the products to use them as raw materials.
Promotion plan
This is a strategy that will be used to promote the products so that they can be used to execute most of the marketing strategies for the company. The promotion plan creates a kind of communication between the company and the consumers concerning the products. The company will use a four aspect promotion plan to ensure the objectives of the plan are met. Advertising is important as it ensures that that different audience is reached. The company will use different advertising channels such as print and mass media. There are also social platforms such as Facebook that can be used to advertise the business.
Personal selling will also be used where some of the sales people will set meetings with customers who we can supply the products and also who prove to have great usage of the products such as large hotels that may need raw rabbit meat. Sales promotion will also be used to publically sell the products (Whitehead, 2008). These can be through creating tradeshows, road shows and also creating print-outs that are issued to different individuals of the target population. Public relations are a great promotional tool as it will ensure that the public are aware of the products and they enact campaigns that are viable to the public.
Target locations with an assessment of their viability
The target location for the products will be strategically positioned in areas where there are other eateries as people tend to hang around these areas. These are also close the middle class and suburb areas who can afford a meal and also the cost of the products. The location will also target the areas that are frequented by the young people and also those people that have a posh lifestyle such as they are not struggling to get their daily bread. This will ensure that the customer base increases and the business is able to make profits at the opening of the business.
Conclusion
Rabbit Palace is a business that will not only focus on an eatery but also a wide range of products that add value to the company. The business will focus on meat and also the other materials that can be sold as raw materials for other manufacturing companies. The company will focus on a premium pricing for the meat products and a market penetration strategy for the rest of the products such as skin, fur, and fertilizer. The promotional strategies that will be used include advertising, personal selling, sales promotion and also public relations. This marketing plan has an objective of ensuring that the targeted market gets great insight into the product.
References
Price, R. (2014, October 16). Suddenly it's Britain's trendiest food. But read on and you may never want to eat rabbit again. Retrieved from https://www.google.com/amp/s/www.dailymail.co.uk/news/article-2794875/amp/suddenly-s-britain-s-trendiest-food-read-never-want-eat-rabbit-again.html
Rachael. (2018, June 20). The Importance of a Marketing Strategy for Businesses in 2018 & Beyond. Retrieved from https://www.lyfemarketing.com/blog/importance-of-a-marketing-strategy/
Spacey, J. (2018). 11 Examples of Target Customers. Retrieved from https://simplicable.com/new/target-customers
Whitehead, L. (2008). ADBASE | Blog | How to Create a Promotional Plan. Retrieved from http://www.adbase.com/Blog/Marketing-Planning/PromotionalPlan
Woodruff, J. (2010, July 30). Different Types of Pricing Strategy. Retrieved from http://smallbusiness.chron.com/different-types-pricing-strategy-4688.html