Assignment 3

Marketing Plan for Stock All: Part 2

April Smith

Strayer University

Prof. Maiosun “Mimi” Kawwaff

February 7, 2018

Marketing Plan for Stock All: Part 2

Stock All is a newly established business organization that primarily operates in the smartphone industry. The company is new to the market but has a vision of expanding within the region and eventually goes global. Whether or not this will happen depends on its marketing efforts (Baker & Hart, 2016). For businesses to be successful and expand their territories, they need to develop effective marketing plans and utilize the best strategies to implement them.

Branding

Branding is necessary for all businesses, large or small. It enables a business to create its name and leave its mark on the market. The brand name for Stock All is Stock All.

Logo

Slogan

The slogan of the company is "Connecting you to the world", basically communicates the primary objective of the company. Stock All users will be connected the world, and the world will connect back to them.

Brand Extension

Brand extension is a marketing strategy whereby a company sells its new products under an established brand name. It is an effective strategy because it assists a business organization to achieve customer loyalty. The company was originally established to manufacture and sell smartphones. It will go ahead to manufacture and sell Wi-Fi routers. These routers will be sold under the company's brand name, Stock All. This is a form of brand extension in the sense that the new product will be sold under an already established brand name. Through brand extension, a company manages to maintain its customers because they already have some knowledge about it. It is a more economical way to market products.

Marketing Strategy and Implementation Plan

A marketing strategy is basically an approach that a business organization uses to reach out to the customer (Roger, 2012). Depending on the stage at which the business is, a variety of marketing strategies can be applied to achieve this purpose. With respect to stock all, one marketing strategy will be utilized. The company will focus on brand establishment. This is a marketing strategy that will enable the company to create awareness about its existence in the market. The implementation of this strategy will involve marketing the company and its products on different platforms such as the internet and television. This will enable it to reach out to a very large population of potential customers. Brand development and establishment will take about 3 months of extensive advertisement.

Positioning

A positioning statement is a phrase, which explains how the product or brand is able to meet customer needs in a better way as compared to the competitors (Lynn & Close, 2011). It is an effective marketing strategy; therefore, it has to be developed in the right manner to make sure that it achieves the purpose, which it is supposed to. Below is the perceptual map from which the positioning statement for Stock All is developed.

Below is the positioning statement for Stock All

“Stock All provides you the most durable smartphones at a lower cost”

Relevant Customer Behavior

The reaction of customers concerning a particular marketing strategy of a company has a significant impact on whether or not the marketing plan will be successful. With respect to the stock all marketing plan, the customers will have a positive attitude towards the company. This is because the marketing plan and strategies are clear. For instance, the brand name indicates that the company has a wide variety of products that customers can choose from. Secondly, the logo and the slogan communicate the intention of the company to its customers. A combination of all these concepts will enable the customer to clearly understand the company and this will have a positive impact on their behavior.

Mission and Company Introduction

The mission statement is basically a phrase that defines what the company intends to achieve in the future (Baines & Page, 2013). This is a guideline or a roadmap that keeps a business in check. The mission statement Stock All is,

“To connect the world through affordable smartphone technology”

With respect to the mission statement, the company's major purpose is to ensure that smartphone technology is affordable and people are able to connect with each other across the world.

Stock All is an organization whose major interest is in the smartphone industry. As much as the industry is saturated and competitive, the company believes that it has something to offer to the market.

References

Baines, P. & Page, K. (2013). Essentials of Marketing. Oxford: Oxford University Press.

Baker, M. & Hart, S. (2016). The Marketing Book. London: Routledge.

Lynn, R. & Close, G. (2011). Consumer behavior knowledge. New York: Routledge

Roger, A. (2012). Marketing: The core. New York: McGraw-Hill