Marketing plan, Last Assigment
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Liberty University *
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330
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Marketing
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Apr 3, 2024
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docx
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Executive Summary
The following marketing plan outlines the strategies and objectives for introducing "PetPal" to the market. Petal is an all-in-one pet care device that offers convenience and enhanced well-
being for pets and pet owners. This plan analyzes the company's strengths, weaknesses, opportunities, and threats, along with the industry, competitor, and customer analysis. It also outlines the marketing strategies, including target markets, positioning, product, price, promotion, and distribution strategies. Our automatic feeding and health monitoring device is a revolutionary product designed to simplify pet care and improve the overall well-being of pets. With the integration of advanced technology, this device offers pet owners a convenient and efficient way to monitor their pet's health and ensure proper nutrition. This marketing plan outlines strategies for product, price, promotion, and distribution to maximize the success of our product in the market. Product Strategy
Our product strategy focuses on highlighting the unique features and benefits of the automatic feeding and health monitoring device. We will emphasize its ability to accurately track and analyze pet health data, provide customized feeding schedules, and ensure proper portion control. Additionally, we will highlight the device's compatibility with various pet breeds and sizes.
Price Strategy
To ensure market competitiveness, we will adopt a pricing strategy that offers value for money. Our pricing will be set based on the cost of production, competitor analysis, and perceived value by the target market. We will also consider offering bundle packages and discounts for repeat purchases to encourage customer loyalty.
The pricing of the automatic feeding and health monitoring device will be determined using a comprehensive approach that takes into consideration various factors. Here are the key considerations for determining the pricing strategy: 1. Cost of Production: The cost of producing the device, including materials, manufacturing, and assembly, will be taken into account. This ensures that the pricing covers the expenses incurred in bringing the product to market. 2. Competitor Analysis: An analysis of the pricing strategies of similar products in the market will be conducted. This will help determine the competitive landscape and ensure our pricing is in line with industry standards. 3. Perceived Value: The perceived value of the device to the target market will be considered. This includes the features, benefits, and convenience it offers to pet owners. The pricing will be set to reflect the value customers perceive in the product. 4. Market Research: Market research will be conducted to understand the price sensitivity of the target market. This will help identify the price range that is acceptable to potential customers and ensure the device is priced competitively. Profitability: The pricing strategy will aim to achieve a balance between affordability for customers and profitability for the company. The pricing will be set to ensure a reasonable profit margin while remaining attractive to the target market. 6. Bundle Packages and Discounts: To
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Related Questions
a) Mr. Karl Lipton is the marketing communications coordinator for a major electronics manufacturer. He is assigned with charting out a marketing communications strategy for a new range of mobile phones developed by his company. Describe Mr. Lipton’s communications strategy over the course of the mobile phones' life cycle?
b) After implementing the marketing communications plan, the communications coordinator must measure its impact. Briefly describe the recommended approaches to measuring the results of a marketing communications strategy.
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Student Instructions: Complete the following information about the organization and products and/or services you will focus on as you develop a complete marketing plan throughout the course. You may need to do research to get answers to the questions below. Be sure the organization and offering you select will 1) remain interesting to you for the duration of the course, and 2) have sufficient information available for you to conduct research and make informed recommendations in your marketing plan.
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As a marketing manager in your company, you were asked to develop a marketing plan for a service that your company would like to bring to market. You can choose to adopt an existing company from a particular industry, or you can choose to create a new one. You are required to prepare the following:
To assess marketing opportunities by analysing customers, competitors, and their own company (3Cs),
To develop the segmenting, targeting and positioning (STP), and
To design effective marketing programs by devising appropriate recommendations for pricing, promotion, place, and services products (4 Ps).
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Part 1: Conduct research about a U.S. automotive and manufacturing industry and include all required information in the rubric.
Part 2: Conduct research about the industry and specific real world company you selected in week one to obtain data ( Remember the industry and company does not have to be within the automotive and manufacturing industry). Include a Porter's Five Forces diagram. Please select an industry and company that interest you as you will continue to conduct resesrch on the industry and company throughout the course.
Part 3: Compare the U.S. automotive and manufacturing industry to the industry and company you selected. Remember to include a Porter's Five Forces diagram comparing both industries and summarize the findings.
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Please add more and improve our conclusion in our paper
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ABC Company, a well-established tech company, is gearing up for the launch of a new line of innovative products in the upcoming year. The company aims to captivate its target audience and secure a strong market presence through effective marketing planning. question -- Identify and discuss three strategic marketing objectives that ABC Company should consider for the launch of its new product line.
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THE THREE WAYS TO IDENTIFY AN OPPORTUNITY INCLUDE:
a.Observing trends, conducting brainstorming sessions, and studying industry trade journals.
b.Observing trends, solving a problem, and finding gaps in the marketplace.
c.Studying industry trade journals, talking to consumers, and solving a problem.
d.Reading books, solving a problem, and findings gaps in the marketplace
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C. how can a company effectively identify and target the most profitable customer segments within a chosen market? What strategies can be used to maximize profitability within these segments?
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- The report should reflect the current external and internal marketing environment and propose a relationship marketing plan.
- The report should cover two main areas:
First, current situation analysis: this analysis is a useful technique for understanding the company’s strengths and weaknesses, and for identifying both the opportunities open to it and the threats it faces. The purpose of this section is to answer a number of questions such as: How can you (i.e., the company you have chosen) use your strengths to take advantage of your biggest opportunities? How can you use your strengths to overcome your biggest threats? What can you do to reduce or eliminate your weaknesses to make the most of the opportunities available? How can you minimize your weaknesses, so that you are better positioned to overcome your threats? When performing this analysis, the most careful attention should be paid to the main issues and considerations that affect your relationship marketing strategy.…
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Conduct a marketing operational analysis for Bosch Car Service, identify the gaps, and develop a revised Marketing strategy.
report should include, Executive summary, Situation analysis, Positioning of the brand and competetive advantages, Revised markerting strategy going forward, Conclution and recommendations
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Table: Factors causing the decline in salesFactors % ContributionDelayed deliveries 15%Lack of delivery personnel 8%Inaccurate sales orders 25%Wrong deliveries 32%Delayed invoicing 6%Pilferage 7%Expired items 7%
a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.Hint: know the vital few %
b. What are the vital factors or vital contributors to the problem?
c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?
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Answer the following question stated in a paragraph.
“An error they are making with market segmentation”
*article is listed below
Product Case Study
Sam and Micaela first met while studying marketing at San Juan College. Both were ambitious and had plans to run their own businesses. Over time they decided to start a business together. Initially they spent many months discussing what sort of business they should go into. They considered various service businesses, like consulting or an internet- based training offering. However, it was eventually an opportunity in the children’s toy market that appeared to have good potential.
They had observed that parents were becoming increasingly time-poor and, as a result, had
less time to spend with their children. And in order to compensate for this, the parents typically spent large amounts on their children to entertain them. Obvious examples were the success of PlayStations, iPads, PC’s, and mobile phones.
Sam argued, “these are big ticket…
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Create plan for a business administration student who has graduated with an associate degree by using the following steps
A mission statement
A SWOT analysis
A description of the target market(s)
A brief outline of the marketing mix strategies—the product, pricing, distribution, and promotion strategies
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Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…
arrow_forward
Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…
arrow_forward
Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…
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Subway Restaurant (Sandwiches, Cookies, Drinks and etc.)
A. Describe what Subway differentiates from its competitors in the market. Please select an attribute important to the consumers and expound why you use the products or avail the services of this brand.
B. Describe a specific target market for this brand and discuss why they are the appropriate segment to target upon to.
C. Elaborate what you think is the value proposition of Subway when it comes to its products or services.
You may perform additional research regarding the brand but the answer should be in own words. Satisfactory answer means a helpful rating! Help me understand this pls.... fulfill all 3 requirements in one long paragraph. Make this very well and do not get other work, i will track those! tenkz
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write a marketing plan for an organization based on
a new product or service that they could offer.
Short profile of the company
Industry analysis and any marketing research that
needs to be done
SWOT and PEST analysis (in brief)
Competitive analysis
Marketing goals for a new product or service
Describe how this impacts the current marketing mix
of the company such as product, pricing, place of
distribution, and promotional messaging
Target market identification
Marketing strategies and tactics
How the success of the marketing plan will be
measured
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Your company's marketing manager implements the company's new marketing strategy and tactics on the market. What types of information does your marketing manager need to monitor to judge the plan's implementation success and strategic effectiveness ?
a. human resources numbers, company budget, competitor campaigns
b. profits, customer relations, sales information, and competitor reactions
c. administrative costs, billing procedures, customer complaints, worker turnover rates
Please explain why you chose A,B or C
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Keeya group of industries is a biscuit making company that is expanding by increasing its products visibility. The company has hired a Marketing Manager who will be primarily responsible to help Keeya market on various online and off line platforms and improve its brand name. You have been assigned the responsibility to identify the important knowledge, skills and abilities that this marketing manager should have. Explain which level of TNA would be suitable in the current situation and how would you go about doing it.
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A retail company wants to analyse the effectiveness of its recent marketing campaign in
driving customer engagement and sales. They have collected data on customer interactions,
website traffic, and sales for the past three months. The objective is to determine the impact
of the marketing campaign on customer engagement and sales and provide actionable
insights for future marketing efforts.
A) How do you think the marketing campaign impacted customer engagement based on
the data analysis?
b) Which customer segment showed the highest increase in sales during the campaign
period, and what factors might have contributed to this?
C) What specific insights or trends did you identify in the data that can help the company
improve its marketing strategies?
d) If you oversaw the marketing campaign, what changes or adjustments would you make
based on the data analysis results?
e) How can the company leverage the findings from this analysis to enhance its future
marketing efforts and increase…
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2.
Refer to the previous activity and create a table of information from the following:
Identify and list the regular reports (5 reports) that are needed in your business.
List the regular recipients of each report listed
Provide the frequency of distribution (how often the report is needed) of each of the listed reports
Indicate if you have a standard template for the report
Regular business
reports
Frequency of
distribution
I have a template
Yes / No
Regular recipients
Page 2 of 31
2021-05-01 12:32:01
Learner Signature
Date
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3) If the Company have no marketing strategy, explain the following consequence that might affect to their goals, mission and objectives.
a) Losing out to competitors
b) Losing market share to existing and start-up competitors
c) Gaining and retaining fewer customers
d) Missing out on opportunities for better targeting
e) Lack of planning and discourage to execute good ideas.
f) Easily collapse
g) No direction in attaining the company’s goals and objectives
h) Lack of management
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Write a summary lead and two following paragraphs of a news release for:
Your organization which produces bottled mineral water on the change of ceo which will bring about changes in sustainability practices.
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Create a new product for Kellogg's company that could be an extension of an existing brand(family branding) or totally new branded product(individual branding)
In order to assist in developing the marketing plan, the report should cover the following sections
1. introduction
2. Business mission statement (Source either from the company or your decision)
3. Marketing environmental analysis
External environmental analysis
Macro-environment: PESTLE analysis
Micro-environment: Porter’s Five Forces
Internal environmental analysis: SWOT and TOWS analysis (both in a table format listing a few key points – the SWOT and TOWS tables are not included in the word count)
Optional: BCG Matrix (not included in the word count)
4. Marketing objectives ( develop SMART objectives based on marketing environment analysis)
Based on UK marketing. Please use your own words.
Many thanks
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