During this course, you have compiled a marketing plan for your fictional start-up company. Share with your fellow classmates the most important part of the marketing plan, and include an explanation of your company and product/service, situation analysis

Comprehensive Market Plan

Overview of the company

Women on the Go is a startup company that specializing on advising women on clothing and how to purchase clothes that best suit them. The Company aims at the affluent women who have less time and knowledge on what and how to wear. Therefore, the Company using its esteemed workers like the fashion designers or fashion specialists can reach the clients either online or through physical contact. However, as much as Women on the Go gives first priority to affluence women the firm also serves other populations such as gentlemen but in a low percentage compared to their female counterparts.

Women on Go utilizes cutting out the middleman business model this is because the organization relies the impact of the middlemen to both the clients and that applies to the case of hiking of the prices when the demand increases. The Company has benefitted from the business model because they are in a position to engage the clients directly and through the process their interests, preferences and tastes are put into consideration and the aftermath to the situation is the profit increment (Allen & Helms, 2006). The organization’s mission, vision and objectives are clearly stated and every worker puts that into action that has resulted to the success for the Company for a long period of time. Similarly, they value clients and their satisfactory that why is it known despite the fact that it is a start-up company.

Market Research Strategies

In the need of ensuring that it remains relevant Women on Go should conduct market research so as to be in position to understand the nature of the target market and how to respond to the needs of the market. A good market research will bear information that will facilitate selection of the proper strategies. Market research analyzes information on the clients, competitors and the company before the decision is made on the best alternative. Therefore, it is important Women to Go should invest intensively on the same if they want to attain the profits level. The organization should put into consideration every finding from the market research because the smartness that will be observed in this case will directly affect the strategy to be used.

Women to Go should use the survey as the market research strategy. The survey will enable them to get the feedback from the customers about the services as well as how their specialists handle the clients. The fact that the Company is in its infancy stages it should be keen to ensure that the participants involved in the interview are among the loyal and esteem customer of the organization. The condition is important because these clients understand all the corners of the firm and they can be in a position to clearly speak about the service-provider without being manipulated. The Women to Go management should be keen on any information submitted during the survey that should also include the non-verbal cues because of the relevance of the data availed when it comes to the alignment of the organization’s goals with its activities.

Women to Go faces stiff competition from other companies and brands that are well-known but for the Company to be in a position to withstand the pressure that comes with the stiff competition it is important that it attains the competitive advantage which will make it profit-driven. For this company to attain the competitive advantage it is necessary that the organization analysts identify the gaps that should be covered and how well to do so (Hitt et al., 2012). The firm should ensure that they don’t restrict themselves to provision of advice but they should gradually introduce something that gives wide range of choices to the customers. The Women to Go should take notes from other brands so that they can be in a position to evaluate their strength as well as weaknesses from these two aspects the Company will align itself according to the elements that can aid in the attainment of competitive advantage.

The macro environment through a political, economic, social, and technological (PEST) analysis

The existence of the Women to Go is legitimate because the legal formulae was adhered to during the registration. However, the authorities are there acting passively so that so as to avoid the clash between the two parties but these organs ensure that businesses operate in areas that are favorable to carrying out the defined obligations. The operation of this Company to various areas means that it emits something back to the economy such as taxes and the provision of jobs. All these activities surrounding the macro environment in this section has an impact on the economy. However, for the social settings engaging the affluence woman about what to wear and how to wear creates a rapport that may continue after the ordeal but remember the ideologies should create on the basis of the scenario in the question. Technology assists in the detention of knowledge but it can also aid the marketing process and reaching out to the distant buyers through the online platforms.

Conclusion

In summary, the market plan is important for any business that wishes to remain the commercial world. However, most of those who intend are carried away with the fear of failing to achieve their marketing goals. Therefore, businesses should take enough time to prepare the marketing plan because of the important that it bears in the organization’s economy lives.

References

Allen, R.S., & Helms, M.M. (2006). Linking strategic practices and organizational performance to Porter’s generic strategies. Business Process Management Journal

Hitt, M.A., Ireland, R.D., Hoskisson, R.E. (2012). Strategic management cases: competitiveness and globalization