Your Marketing Plan

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Assignment 3: Part C: Your Marketing Plan

Due Week 8 and worth 280 points

To conclude your marketing plan, in Assignment 3, you will describe the company’s, marketing strategy, implementation strategy, expansion plan, social media strategy, monitoring methods, and integrated marketing communication strategy.

Note: You may create and / or make all necessary assumptions needed for the completion of this assignment.

Write a six to seven (6-7) page paper in which you:

1. Develop the company’s branding, pricing, and distribution strategy.
2. Classify the company's major competitors as inter- or intra-competitors. Categorize the competitors' major strengths and weaknesses.
3. Develop the differentiation strategy in relation to the closest competitor.
4. Establish whether the company's intention is to be a leader or follower within the industry.
5. Specify two (2) social media and / or media tools that you would use as you develop your plan. Justify each of your chosen tools.
6. Suggest the integrated marketing communications that are most relevant for your marketing plan. Relate each marketing communication to your company's advertising strategy.
7. Use at least five (5) academic resources that address sustainability and monitoring of effective marketing plans and determine the applicability for your hypothetical company. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify 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:

• Develop strategies to assess performance and achieve marketing goals.
• Develop pricing strategies and distribution channels for products.
• Analyze integrated marketing communications and its relationship to advertising strategy.
• Evaluate marketing research tools involved in the marketing process.
• Use technology and information resources to research issues in marketing management.
• Write clearly and concisely about marketing management using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.

MARKETING PLAN: COPERNICO LIMITED COMPANY                                        

MKT 500

10/30/2015

            With the current rise of insecurity in Africa mostly Kenya, I decided to venture in that country and install a security firm. My security firm is called Copernico Limited Company. It is located in Nairobi Kenya whereby our main work is installing security gadgets in hospitals, commercial buildings, airports and even homesteads. We not only deal on security gadgets for buildings but also install them in vehicles. We also deal with tracking devices for vehicles. Our mission is to ensure that public and private places are safe from theft and burglary. My company currently has a work force of 40 employees. 25 of them are technicians who assist me in the installation of the gadgets. The other 15 comprises of secretary accountants, marketers who help in looking for contracts and other social laborers.  I import my security gadgets from japan and look for contracts in Kenya where my technicians help me in the installation process. I also deal in employing security guards and assigning them to various companies. The security guards that I employ are highly trained and some are from the military. My security guards are mainly located in public places such as bus stations, churches in buildings and other places that may face threat of attacks be it terror attacks or even theft from burglars.                                                                                                    

Currently there are fewer security firms in Kenya therefore the competition is quite minimal. The major security firm in Kenya that seems to pose competition is G4S which mainly comprises of police officers as security guards and also offer the services of security installation devices. Therefore the current market is quite good in terms of competition. From the time I started the company, statistics show that it has grown by 6% in the market structure. That is a good progress considering that I am still a newbie in the country.

            Kenya currently spends US$50m and $100M on security equipment. This puts my company in the expenditure list therefore helping it to grow. My company is a large tax payer in the company also therefore it contributes to the revenue of the country. In my estimation the finance department saw that 5.3% of my expenditure contributes to the economy of the country. Despite the percentage being high the economy of the country is still good and it is growing gradually making my company to also nurture accordingly.

            Kenya is currently politically stable, a factor which is very vital for the success of a country. I am currently working with the current government to help them install security devices in public places due to the recent terror attacks. I have had several contracts with the government which has made my company to increase in terms of familiarity. This has led to private firms contacting me to provide my services. Political stability in a country is a vital factor that determines the success of various enterprises or firms. When the country is at harmony it creates a favorable working condition for the firms.

            With the current trend in technology there is a great adjustment in terms of the security devices. More improved gadgets are being introduced to the market therefore improving the level of security. This enhancement has helped my company as I am able to provide quality services. Improvement in technology has forced me to train my guards on the new security threats since thieves and also terrorists have also advanced in their techniques therefore my guards should also be informed and be prepared.

            The society now is currently embracing the new security enhancement techniques therefore making my company to be relevant. Sociocultural norms have greatly changed and people are accepting my new methods of ensuring security.

Copernico Company targets hotels, schools, churches, banks, commercial buildings and play grounds as their primary clients. These are the areas that security needs to be emphasized. The statehouse, major industries and individual homestead are the secondary targets that we aim.

My product which is providing security service is the best product currently with the emergence issues. My clients need to be safe and I come in hand to provide security for them. Schools, Churches and buildings are mainly targeted places by terrorists and also thieves therefore by providing my service I will have satisfied their need. My services are found online through my website www.copernicoltd.org. They can also look for my services at my offices which is located at Nairobi. I can also be contacted via my email [email protected]. My price is quite fair for the primary market to afford and it solely depends with what type of service a client wants. If a client only wants guards I charge $150 per each guard one hires. When a client wants the installation of security devices that depends with the building and the equipment he/she wants. The prices are negotiable making me to attract a lot of clients. Copernico Company mainly promotes itself through the media including the social media. We advertise ourselves in TV stations and also Radio stations to increase our popularity in both the primary and secondary markets.

The service that we provide to the market is a necessity therefore it has a good image in the market. We are up to date with the current technology making my company relevant. The goal of my company is to ensure that security is tight in the country and reduce cases of insecurity. This is the reason I am a preference to most of my primary and secondary clients. Kenya Security Association is my major collaborator and it has helped me in distributing my services to the country. According to 2014-2015 financial years, there was an increase in the market size. The increase was recorded to be 2.2% which is a great improvement. This is evident that my customers are gradually cumulating. There are a number of benefits that they gain from my services. First and foremost is that they will work at peace knowing that there is no security threat and that they are safe. This is the prime reason that will make my market to grow. Customers approach me for my services which are readily available. For instance if a school wants my services they can easily reach me through my email whereby we negotiate and I deliver the services to them. There is no stiff competition in the security field as managing such a company is quite expensive therefore my market is good. I am currently located in Nairobi, the central part of Kenya making my clients to easily locate me. The climate which comprises of several factors such as economic climate, political climate and technology is favorable with my company.

Determining my market using the STP method I can conclude that my company has fit the function in the market. Before starting my company I did identify that people needed security with the current occurrence of terror attacks in the country. The niche was there so I filled that gap by providing security services. My services cater for everyone and in any geographical location in the country. Therefore my targeted primary and secondary clients are fit. The market indeed was large enough therefore yielding a lot of profits. That shows my market target was good. Lastly I positioned my service in a place that is really needed. I am currently striving to ensure that all buildings around Nairobi are fitted with my security equipment. By next year I plan to increase my market size by at least 5%. This will ensure that I yield more profit. In the next five years I plan to move my company across East Africa and Africa at large. The best way that I will track my record is by keeping records of my market margins and noting the changes. This will help me in knowing if there is an increase or a decrease in my customers. My accountants will do the job of comparing the statistics of the records. 

  I have done a survey to identify my strengths and weakness in order to analyze my company opportunities and threats. The strengths that were identified during the survey included a good managerial team. From the survey it was found out that Copernico Company has a good managerial team who is able to supervise the projects effectively and the relationship with his employees is good therefore making the job to be done at its best. There is a good client relation in the company and the ways clients are served is good. This is one of the strengths that the company has that it makes it to be superior to the competitors. There is sound finance therefore the risk of bankruptcy is minimal. This ensures that we can deliver our service to its best quality. The cash in Copernico Company is steady which makes sure that we have a sound finance. The financial management team alternatively is skilled. Our brand name has established itself therefore making our marketing to be easy. We have an established customer base that refers other customers. The weaknesses that were found to pose a threat in our company included; firstly we did delay in providing our services. It took a lot of time in completing one project which hindered us from moving on to another project. There is high staff turnover which has greatly affected us. With improvement in technology daily our equipment are slowly becoming outdated making it a weakness. Lastly our major weakness is that we don’t take the opinions of the people outside thinking that we can do it by ourselves.  The opportunities that I have found are, firstly there are few competitors therefore increasing the market size. There was a law that passed which postulates that all public places should be fitted with CCTVs and other security equipment. That is an opportunity for my firm. There are increased sales from the terror attack therefore giving me that opportunity. Kenya is currently on the verge of calling investors therefore they have reduced their interest rates and also tax revenue has declined, that is the greatest opportunity I can say.

 The main threats that I face are increased prices from my suppliers. My competitors are poaching my employees therefore they trade my secrets. Improved technology is another risk as it makes my equipment to be out dated. Lastly my suppliers are failing to meet the quality standards of my product which is a big threat as it will lead to loss of customers.

REFERENCES:

1.      Ferrell, O. C., & Hartline, M. D. (2011). Marketing strategy. Australia: South-Western Cengage Learning.pg 122

2.      Building Customer-brand Relationships - Page 41

3.      Folsom, W. D., & Boulware, R. (2004). Encyclopedia of American business. New York: Facts On File.

4.      Percy, S. (2006). Regulating the private security industry. Milton Park, Abingdon, Oxon: Routledge for the International Institute for Strategic Studies.

5.      Cockayne, J., & Mears, E. (2009). Beyond market forces: Regulating the global security industry. New York: International Peace Institute.

 assignment 2

Copernico Company limited has been in the market since 2007 after the post-election violence in Kenya. The logo of the company is a frame of a house with a large letter C at the canter that is shaped like a padlock which is in color purple and the background of the house is white. This logo symbolizes our work which is to create a safe place to homestead. The structure of a house symbolizes who is our target and that is those living in homestead; it shows we work with buildings. The letter C which is shaped like a padlock reflects that the building is secured and that there are no dangers of burglary. We decided to use color purple in our logo as purple reflects royal and it is our prime responsibility to make our clients to feel like they are majestic.

            Our slogan as a company is ‘Beyond Expectation’ which simply means that we provide services that the people can’t really think of. We ensure that we have checked all the security loop holes and mend them before finishing our work. Our company figures out all the threats that may happen within a building and when we sign a contract our aim is to keep the premises secure in all ways. The slogan Beyond Expectation simply defines our services and that we do our work to the best. Our security services are provided to the maximum level.

            A brand extension Copernico Company limited will also take on which will include other services not only security for buildings and cars but also providing personal bodyguards to prominent people. It will also provide transport security services for valuable goods which are transported from one place to another. Our main aim is to offer security services in all areas that need security. We want Copernico Company to be a security shop for individuals whereby a client can have all the security issues solved as soon as he/she contacts us.

            My 2015 marketing strategies is basically first to engage my customers in my business. In my website I will create an online platform whereby I will interact with my esteemed customers and get to know their grievances concerning my services. The online platform will also make my customers to interact with each other therefore increasing the awareness of my brand. (Carly S. 2015).

            I will also ensure that I have Google Ads which will assist in making my brand popular. Research shows that 90% of the current population uses internet therefore by using Google Ads.( Online.2015). To advertise my product will be effective as a lot of people will encounter my brand name when using the internet. To me this is the most effective marketing strategy. I will also make sure that I open account on social media that will enhance my popularity. This way I will get to interact with a lot of people who are in dire need for security. A blogger page is also useful whereby I will be writing articles that are related to security issues. The blogger page will also be a good marketing tool.

            Lastly my marketing strategy for 2015 is that I will ensure that I attend six trade shows that are held annually in Kenya in every province. The trade shows are nationals and will have different security firms presenting their products. I will ensure that each show has members of the marketing department. The trade shows helps us to explain to people about our products and how they help the society. The trade shows are held in different parts of the country therefore by attending all of them it will bring popularity of my brand name.

            For Copernico Company limited is the leading security firm in Kenya and is going to have a superior customer service; my products will be delivered in advance and I will ensure that I provide my services even to the interior parts of Kenya. My firm will ensure that the service it provides is affordable to every individual in the country. Therefore the type of service that an individual wants will depend on his affordability. I believe that with the current prices and my up to date equipment my clients will enjoy my services and the product offered will advertise itself. Since people can easily find me I believe that I will have a wide range of clients.

            Statistics shows that for the past five years the number of my customers has been increasing gradually. Therefore this shows that my product has been embraced well in the society. My slogan I can say is what makes many people search for my company. The slogan reflects my services and how best I provide the services. My logo is another advantage of Copernico Company as it simplifies what we do (Adelene. 2014). When a client just sees the logo he/she interprets our services which make us to stand out in the security market. My brand extension which is to ensure that I provide all the security issues problems is well suited in the country with the current issues of insecurity rising. This therefore ensures that my products will reach a large targeted group. Lastly my positioning statement which is simple will ensure that my targeted customers to enjoy my products. The positional statement will make sure that I will enlarge my market and even at one point I will cross the borders.

            Copernico Limited Company is in Business to ensure security level of each individual is catered for. We really value our clients and we want to ensure that there safety is catered for. Our services are of the best standards and our equipment is of the latest technology. Our prices are negotiable which makes us the best company to approach for your security matters.

            Copernico Company main aim is to ensure that people are safe. Our mission is to cater for individual security as well as the public. We have a great passion in ensuring that people conduct their day to day activities without worry over insecurities. We mainly provide our services to public institutions, vehicles, individual homesteads, supermarkets, banks and many other places. Security is a key issue which should be put into consideration and that is why we are here to help you.

            In determining the feasibility of my product I am quite certain that it will be a success and not a failure. Using the four main components that are used in determining the feasibility I have come into a conclusion that my product is the best currently. First and foremost my market size is big and has grown by 2.2% since last year. This is evident that I have a large population of buyers. The demand for my product has risen since cases of insecurity started in the country. I can proudly say that 35% of Kenyans uses my security equipment. The competition still is not that big as there are few firms dealing with security issues.

            In conclusion Copernico Company has filled a niche in the market. Providing security services to the country currently is the best product that people can be offered.

REFERENCES:

Adelene. 2014. Consumer Behavior and the Marketing Strategy. Retrieved from www.brightblue.com.au/index.php/blog/article/consumer-behavior-and-marketing-strategy

Carly S. (2015). Introduction to Brand Strategy: 7 Essentials for a Strong Company Brand. Retrieved from www.blog.hubspot.com/blog/tabid/6307/bid/31739/7-cpmponents-that-comprise-a-comprehensive-brand-strategy.aspx

Online. (2015). Assessing The Feasibility of a New Product. Retrieved from

www.npd-solutions.com/feasibility.html

Neil P. (2015). Content Marketing Strategy:5 Obvious Content Marketing Stategies.         Retrieved from www.contentmarketinginstitute.com/2015/07/content-marketing-strategies-overlook/

Online. (2015). Feasibility Analysis. Retrieved from www.toolkit.smallbiz.nsw.gov.au/part/20/100/455

Online. Conducting a Feasibility Study. Retrieved from www.fao.org/docrep/w6864e09.html

Stayman D. (2015). How to Write Market Positioning Statements. Retrieved from http://www.blog.ecornell.com/how-to-write-market-positioning-statement/

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