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Marketing Plan

Essay by   •  December 6, 2012  •  Research Paper  •  1,966 Words (8 Pages)  •  1,396 Views

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Portfolio

Executive Summary

The business intends to brand decision corridors, define brand essence, display brand benefits, and engage in QDVPIII marketing models, incorporate sales drivers, select target groups and in trade activities. Various combinations of these vehicles will be actioned to create the pull required to achieve sales targets.

The Challenge

Products to be marketed are 1. Customer Service Training, 2. Consultancy Services, 3. Seminars, 4. Motivational Presentations, 5. On Site Evaluations. The challenge will be to encourage sales of these packages as the business has neither tangible presence nor goodwill locally. With limited resources the brand benefits of each sku will be positioned, channeled and visible to drive sales in the short run. The sales breaks out targets are: Customer Service Training- $100,000 per month, Consultancy Services- $100,000 per month, Seminars- $100,000 per month, Motivational Presentations- $100,000 per month, On Site Evaluations- $100,000 per month. Justifying portfolio inflows of $500,000 per month. These figures represent only the targets for the first 60 days commencing September 1 2009. This is to allow for teething pains and the completion of brand creation, registration, and trade launches.

Situation Analysis

Company Analysis

The business will brand position and market the portfolio to establish the brands locally, regionally and internationally. Focus will be on maintaining profitability while selling value for money to the end users, the company operates with a culture that's committed to enjoying the challenge while living the dream. Strength comes from the team-portfolio combination, the team has international accreditations and the portfolio was created with both on and off trade in mind thus producing a product mix that has high appeal to all sectors. Weakness comes from the issue of the company being new to the local trade; as such the business has very little goodwill, in calculable market share, and experienced competition. Market share is less than 3% at this time.

Customer Analysis

There are eight (8) customers currently, of that five (5) are classified as active. Three (3) have done business within the last 30 - 60 days. This is unacceptable. The new pool will be put into two (2) groups I. Private Sector and II. Public Sector. As all businesses are driven by the 'bottom line' value for money is a key driver. The decision processes will be consumer driven allowing for the packages to be tailored to the needs of the end user/s. concentration of the customer base is extremely high, the products are marketed to local, regional, and internationally registered companies.

Competitor Analysis

The competition enjoys medium to high end positioning in the trade. Their strength comes from over 15 years experience in the market place. Weakness comes through the perception of the business being an employment agency as the name suggests. It is estimated that market share of 45% is covered by the major competition; the competitor's portfolio appears to be extremely diversified to soak up as much market share as possible in various sectors.

Collaborators

In the short run a branch will be opened and commissioned to operate in the Kingston metropolitan region. This will facilitate rapid responses to market trends. The majority of the businesses have a presence in this region, no further justification is needed.

Climate

S.T.E.P Analysis

Social, Technological, Economic, Political

Political Factors

 Tax policies are not deemed to be overly burdensome, as the commodities in the portfolio are all service based they require little inputs, taxation will mainly factor on the back end.

 Employment regulations should only affect the business if persons deemed to be consultants spend more than 2 weeks in the island. All other areas are non issues

 Environmental regulations will not apply to the business. There is no waste generated that requires unique care, nor contravenes the Basel agreement.

 The services offered have no trade restrictions, the Caricom Single Market and Economy is of singular importance. This agreement allows for the free flow of services throughout the region.

 The political climate is deemed to be relatively stable; the Westminster model still holds democracy in check.

Economic Factors

 Economic growth has been slow since the global credit crisis; the tourism sector felt some reprieve when Mexico was affected by the H1 N1 virus causing an increase in tourist arrivals.

 Interest rates are fairly stable; the central bank had recently moved to reduce interest rates. Major fluctuations are not expected.

 Inflation is projected to reach 14% by the end of 2009. C.P.I lists miscellaneous goods and services as contributing 11.6% to inflation as at March 2009.

 The foreign exchange rate as shown by the central bank weighted average at 18 Aug 2009 is: $1USD = $88.9938JAD, $1CAN = $80.5575JAD.

Social Factors

 Health consciousness and safety are not issues that should adversely affect the portfolio

 A population growth rate for 2008 was 0.779% thus increasing the demand for basic amenities by a similar margin.

 Real data on age distribution was difficult to find. The data available spoke to figures from 2005. Extrapolating on that figure using a population growth rate 0.779% from 2005 to present day persons between the ages of20-59 is estimated to be 1,397,793

Technological Factors

 R & D activities are usually used more by larger corporations than the small to midsized enterprises.

 Automation has not been a big factor for many industries, this is apparent through the number of enterprises that are still very labor intensive.

 Technological incentives are available through the government for mainly energy and manufacturing.

 The rate of technological change is not a fast one there are sign that the change is taking place. Many public sector bodies offer services on line; most of the private sector has

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