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MKT100

( Presented by: Student Course Date Remember to use apa ) ( Marketing Plan Company name )

Marketing Plan

The marketing plan is a tool used to develop and present a company’s marketing strategy. At minimum, the plan should contain descriptive information on the company, its products or services, target customer, marketing research, advertisement, promotions, and a list of actions items that is supported with a strategy plan for execution.

Directions: Create a fictional start-up company that serves the U.S. market with a product or service.

Company Overview

Owner(s):
Company Name:
Product Name:
Location:
History (yrs.):

Section 1: Executive Summary

Provide a detailed description of your company. The description should include, at a minimum, the company’s name, its history, founders, business purpose, and mission. This could be written using multiple sentences, but no longer than a single paragraph.

Fayee Designs is Startup Company that can into existence in January 2014. The company deals with the production of design wear for children, women and men. It also specializes in the provision of wedding arrangement services at a highly competitive price. A group of three designers, James Brown, Jack Daniels and Jeff Walters, started the company. The three founders met while in college pursuing major in fashion technology. The business purpose of Fayee design is to make profit while providing high-quality services to its customers. Fayee Designs is on a mission to be among the top players in the fashion industry.

The company provides services in wedding planning. It also offers wedding designs for couples who want to use the same designer to make clothes for the entire wedding. It makes designer wear for children, women and men. It has a trademark that is characterized by a black and sketch of the family that seems to embrace fashion.

t description

Describe, in detail, the product or service the company produces or services. Include trademark, color, shape, packaging, labeling, and any characteristics that you deem relevant.

You can also include a picture of the product in this section for visual aid.

{This section does not require any references or citations}

Section 2: targeting customers

Consider who your customers are and identify your market segment. Analyze the business customers / clients you wish to target. Your analysis should include, but not be limited to, their demographic profile (e.g., age, gender, ethnicity, etc.), psychographic profile (e.g., interests, routine, habits, etc.), profession (e.g., income, occupation, education), geographic location (e.g., country, region, city, rural, urban, climate) and their precise wants and needs as they relate to the products and / or services you offer.

Demographic profile

[Describe your demographic profile.]

Psychographic profile

[Describe your psychographic profile.]

PROFESSION

[Describe your profession.]

geographic LOCATION

[Describe your geographic location.]

Wants and needs

[Describe precise wants and needs as they relate to the products and / or services you offer.]

Use at least two (2) quality references cited in APA format to support this section. Consider how you came up with this demographic and why this target population would be interested in purchasing your product.

Example of citing research to support your customer: According to a report conducted by the SBA (2014), 90% of millennials prefer technology products that are compatible with social media.

The company targets people who are interested in designer wear that spells elegance. It targets organizations that would like to design uniforms for employees and students. It also targets modelling agencies that require fashionable and unique wear for the runway. It will target all kinds of people interested in fashionable designer (Duncan, 2008). It includes men, women and children. The company produces fashionable wear that fits every age. It has clothes for the old and the young.

Majority of the consumers targeted by the organization live in urban areas. It is because people areas are more ready to spend on clothes compared to people in rural centers. The company’s potential customers are the working class, who are required to have a wide range of clothes for different occasions. It targets people working in banks, courts, fashion agencies and general offices. These people need clothes that make statements of what they mean at every occasion (Mittica, 2013). Fayee Designs is in a good position to develop the best wear for its potential customers.

Section 3: Unique Selling Proposition

Consider what distinguishes your company from competitors, their products and / or the price of their products and services.

unique selling proposition (usp)

Describe your unique selling proposition (USP). Next, explain the key aspects of your business, products, or services that make them unique when compared to your competition. (e.g., Southwest Airlines’ USP is providing customers with low airfare without compromising service and comfort.)

marketing objectives

Describe the marketing objectives of your company. Your marketing objectives should, at a minimum, address potential customer profile and market segmentation. Explain the manner in which you conducted your secondary market research.

Use at least two (2) quality references cited in APA format to support this section. Use your references to define your understanding of USP and depict the importance of describing your marketing objectives.

Section 4: Pricing and Distribution Strategy

You will now consider your company’s strengths and weakness, along with your product or service price.

My company has the opportunity to benefit from its strengths which include excellent staff that have a sound knowledge of their work, great internal communications, great and innovative minds behind the work and quite excellent internal organization within the company. The company is however struggling with quite a number of weaknesses which are mainly what seems to be out of our hands. First of all, we are currently struggling to meet deadlines even though we are just the initial stages of our company. We also lack a good deal of market experience as a company. Although not in excess, we are lacking successful marketing strategies in new areas other than those that we have demonstrated on our working capability. We suppose that we lack updated market research data too besides not being at a stable financial position.

Our greatest opportunity is that similar services in the market are quite expensive compared to what we offer. Besides, we diversify to the extent of being at a position to cater for every department of home care. There is also the motivation by the opportunity to grow since we are only a beginning company with a huge pool of prospective client base. The recent Economic down turn from which the whole nation is yet to recover means that most people are spending less (Swink, 2011). There are also competitors that have similar products and who have been in the industry for long. They also have a higher financial muscle than our company.

My firm is a services only organization. This implies that the supply chain will not involve vendors since will involve tools and equipment used in offering services and not products for sale. This, however, doesn’t mean that our firm lacks a logistics department. Its work involves procuring working tools and then ensuring that they are in order. Finally, operational aspects are met by sequencing time and work in such a way that the time lost between one job and another is as little as possible (Morris, & Morris 2008). Of the available jobs, instead of using outside vendors (or merchandising rather) we subcontract heavy jobs to some other firms or if they are just small menial jobs that have increased beyond our capacity we employ casual workers that are laid off as soon as the jobs are over.

Internal factors that influence our pricing strategy are mainly the number of employees with their levels of skills still being crucial in determining the remuneration and salaries to be offered. Prices are usually inclusive of production cost and labor cost is a part of this production cost (Byrd, & Megginson 2013). External factors that influence our pricing strategy are mainly our competitors and to a smaller extent the prices of the inputs such as detergents. As our competitors increase or lower their rates, we also respond accordingly. Basically, being a begin company, this is very important since we have to always keep our prices low until when we’ll be well established when we’ll raise the prices if there will be a need to.

strengths, weaknesses, opportunties and threats (SWOT)

Determine the key strengths and weaknesses of your company, as well as the opportunities and threats it faces within its industry.

The SWOT Analysis is a very useful technique for in business. Go to Mind Tools’ Website and read “SWOT Analysis” for a better understanding of the topic, located at http://www.mindtools.com/pages/article/newTMC_05.htm .

supply-chain and operational system

Discuss your critical steps within your supply-chain and operational system. Explain the key aspects of your strategies for producing and distributing your products and services to both your stores and customers. Determine whether you will use an outside vendor or do everything in-house.

pricing strategy

Analyze the company’s pricing strategy relative to its pricing objective. Examine major internal and major external factors that could potentially affect the pricing of the company’s products or services.

Use at least two (2) quality references cited in APA format to support this section. Use your references to define your understanding of SWOT and depict the importance of describing your supply-chain and pricing strategy.

Section 5: Distribution Plan and Promotions Strategy

You will consider mechanisms by which your customers will purchase your products and / or services (e.g., online, storefront, direct sells) and the primary manner in which you intend to reach new customers (e.g., TV, radio, social media, special events).

Consider the marketing materials that you intend to use. According to the textbook, marketing materials are collateral used to promote your business or products. Promotional strategy may include free trial offers, money-back guarantees, and buy two (2) for the price of one (1) type of deals.

distribution strategy

Determine the distribution strategy in terms of your target market, location, and selection of distribution channels. Indicate whether or not you will leverage the following strategies: use stores located in different regions, sell online, and / or hire a sales team to sell directly to suppliers and door to door. Recommend three (3) strategy options to get your product or services out to your customer base.

1. Insert strategy option to get your product or services out to your customer base

2. Insert strategy option to get your product or services out to your customer base

3. Insert strategy option to get your product or services out to your customer base

marketing goals

Outline your main marketing goals for promotions, offers, and giveaways. Discuss the key types of marketing materials that you intend to develop and share.

Use at least two (2) quality references and cited in APA format to support this section. Also consider including charts, graphs, tables, and pictures to support your marketing goals as it relates to promotions, offers, and giveaways.

action steps (conclusion)

Propose at least three (3) action steps that you can use to move your plan forward. Consider how, when, and who will be involved in the execution of this plan. Formally wrap up your marketing plan.

A conclusion is not traditionally included in a marketing plan, but a list of action steps are often included within the plan. The conclusion provides you with an opportunity to reflect on your plan and support academic level writing.

Reference list (APA format)

References

Duncan, K. (2008). Start: How to Get Your Business Underway. Chichester, U.K.: John Wiley & Sons/Capstone.

Mittica, C. J. (2013). Top Trends for 2014. Wearables, 17(10), 42-48.

How much of a difference can Walmart really make? (n.d.). Retrieved November 13, 2014, from http://www.greenbiz.com/blog/2012/04/16/how-much-difference-can-walmart-make

Kincheloe, J. (2002). The sign of the burger: McDonald's and the culture of power. Philadelphia: Temple University Press.

Schiffman, S. (2012). The Ultimate Book of Sales Techniques 75 Ways to Master Cold Calling,

Sharpen Your Unique Selling Proposition, and Close the Sale. Cincinnati: F W Media.

Kotler, P. (2000). Marketing management. Upper Saddle River, N.J: Prentice Hall.

American Marketing Association. (1992). Marketing management. Chicago: American Marketing Association Publications Group.

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Marketing Plan