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Strategic Marketing Plan for Weatherpruf Plc

Essay by   •  February 8, 2011  •  Business Plan  •  2,146 Words (9 Pages)  •  1,543 Views

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MARKETING STRATEGY

STRATEGIC MARKETING PLAN

FOR WEATHERPRUF PLC

BY ANDREW JUNIPER, REBECCA WOODWARD

& ANDREW DEIGHTON

Contents

1.0 Introduction / Goal Setting

1.1 Mission

1.2 Corporate Objectives

2.0 Situation Review

2.1 Marketing Audit

2.1.1 Market Overview and Sales Summary (current target)

2.1.2 Current Financial Position

2.1.3 PEST Analysis

2.1.4 Competition Analysis

2.2 SWOT Analysis

2.3 Assumptions

3.0 Strategy Formulation

3.1 Marketing Objectives

3.2 Strategy Options

3.3 Strategy Chosen

3.3.1 Core target markets / Marketing mixes

3.3.2 Basis for competing / Differential Advantage

3.3.3 Desired Product / branding position

4.0 Resource Allocation and Monitoring

4.1 Implementation Programme

4.2 Controls and Evaluation / Monitoring Performance

4.3 Financial Implications / Required Budgets

4.4 Operational considerations

5.0 Appendices

5.1 SWOT Analysis

5.2 Background Information

5.3 Research Findings

1.0 Introduction

Please find enclosed our recommendations (within a marketing planning framework) on how Weatherpruf can alter its marketing strategy to maximise opportunities and minimise threats from its external environment. This report details, specific recommendations, including their implementation, to enable Weatherpruf to position itself more effectively within the market place.

(Marketing planning is vital in business. It is the process by which organisations analyse the external environment and their companies current capabilities, decide upon courses of action, and implement those decisions. It is imperative that companies, continually re-evaluate themselves and understand the changes in the environment in order to maintain "strategic fit" between their capabilities and the market place).

Marketing planning is a systematic process that involves assessing marketing opportunities and resources, determining marketing objectives and developing a thorough plan for implementation and control.

2.0 Goal Setting

We understand from Mr Thomas, Managing Director of Weatherpruf, that the overall mission for the company is "to become the leading supplier of shoe polish within the UK market".

Specifically, he would like to maintain and grow its traditional market (wax). But also, look at how it can increase its overall dominance and profitability within the shoe-polish market as a whole.

1.2 Corporate Objectives

We believe that this can be achieved through the following objectives:

1) Regain at least 15% of Bloom's solid wax market share within 2 years.

2) To gain 80% availability within the major retailing outlets (including supermarkets) within 1 year.

3) To launch a new variant of Weatherpruf, in liquid form. (Thus exploiting the new opportunity / market share growth in the child / mother segment)

4) To reposition the wax products within the consumers minds, including building awareness of Weatherpruf's new product range.

5) Grow volume of wax - through existing links / retailers.

3.0 Situational Review (Where are we now?)

3.1.1 Market Overview & Sales Summary

Weatherpruf operates within the UK shoe polish industry. The industry is served by two distinct markets:

i) Solid Wax

ii) Liquid-based Polish

Wax Market

This is the traditional market for shoe polish, which has been established for over 100 years.

In 1999/2000,

Volume turnover: 200 million units

Sales Turnover: Ј40 million

Growth Rate: 0% (For the past 5 years the solid wax market

has been static)

Unit Price: 20p per unit

Variable costs: 15p per unit (Weatherpruf)

Wax Market: 10 million (contribution to fixed costs and profit)

Liquid Market

The shoe polish industry was revolutionised in 1990, with the introduction of a liquid based polish. This market has grown rapidly from a small market share to nearly a 1/3 of the market for shoe polish and accounting for half the volume:

In 1999/2000:

Volume Turnover: 100 million units

Sales

...

...

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