Company Introduction, Market Segmentation & Product Positioning
Antonio Sanguinetti
Dr. Eva Ananiewicz
Strayer University
Marketing Management
July 21, 2012
This paper will describe the details of a fictitious company and provided its background and will develop a marketing plan with a focus on segmenting and positioning its product and service. Thirdly, this paper will determine and decide upon at least one (1) foreign market for the product and service.; identify the marketing segment for the product and provide a rationale for this segment and discuss the target market and provide a rationale for this target market. Also, it will perform a SWOT analysis (strengths, weakness, opportunities, and threats) for the
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After researching the foreign markets, our department proposes that Canada would be our direction to go with to expand our business. The selection that we made is due to many factors. One of the factors involved is that Canada’s housing starts for 2012 is down by only percentage points. (Centre for the Study of Living Standards, 2012) This allows us to believe that the economy is still strong in the Canadian foreign market. There is new construction going on in Canada and there is potential for the market to go back up.
Discuss the potential audiences for a marketing plan and the needs of those potential audiences.
BACS anticipates that a majority of our clients will be building owners and property management firms contracting on behalf of building owners. BACS expects that the business’ client base will consist of commercial, industrial, and residential clientele. However, we anticipate that its secondary client base will come from the residential arena (homeowners). As time progresses, BACS may engage more complicated industrial and high-end commercial and industrial installations. The first group to be targeted is the owners of homes that are 12-15 years old and the second group is those that frequent the home improvement and construction supply stores.
Identify the marketing segment for the product and provide a rationale for this segment.
The HVAC industry is comprised of companies that manufacture,
I. Executive Summary II. Situation Analysis o Market Summary Target Market Demographics Geographic Demographics Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis Strengths Weaknesses Opportunities Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast
This marketing plan will also engulf vision of the company, its mission statement, product and services, and underlying factor of the business. The plans will also contain a vivid description of the company in terms of its business product as well as SWOT analysis to demonstrate its strengths, weaknesses, opportunities, and threats. A market target segmentation of customers, strategic mission, and its foreign expansion
Market needs: To follow the client wishes, due to the highly raising prices of real estate, we were considering building affordable housing. Also, another option is to construct offices for the city to use.
2) What are the key components of a marketing plan? List and describe each component briefly.
Canada 's housing market is at an all-time high, they are known in Vancouver for having the most expensive housing market. This expensive market is not just a Vancouver problem, it is an issue growing throughout the nation and is depriving the average citizen to be able to purchase a house in their lifetime. There is a major issue with the state of the market and how it affects the current citizens. Issues have been rising where the average wage in Vancouver is estimated at seventy-one thousand per family household, according to the Vancouver Sun (2014), yet the average costing home as reached between five hundred thousand in the municipality to over one million within Vancouver, according to articles by Beth Lindsay (2015) of the Vancouver Sun, and Troy Landereville (2015) of The Maple Ridge Times.
CBPRO is a leading real estate company in Virginia, an independent franchisor of the Coldwell banker brand since 2001. CBPRO’s business focuses on residential real estate services such as selling, buying, and leasing houses; has 299 agents in 13 offices. The residential real estate industry is influenced by the ups and downs of the economy. In good times it fuels consumers confidence and spending, and in bad times consumers are cautious and not willing to invest in a house etc. CBPRO had a breaking sale of 2,848 percent in the first three years of services and during the plummet in the economy, sales flattened down to 2.5 percent, as was the case with the industry in general. (Coldwell Banker – Virginia Beach, Page 279). Due to high competition in the residential real estate industry (especially locally), coupled with fluctuating national economic conditions, and narrowly defined target customers, CBPRO faced several distinctive challenges; residential and clients lists were important to CBPRO business and to its competitors, especially the local competitors.
The housing market in Canada has exponentially increased across the country in a very short time frame. Housing prices have reached highs that have never been seen before in certain cities, especially Vancouver and Toronto. Foreign buyers, although a small amount has directed the housing market in Canada, especially from investors in China. From the currency earned in their native country and their buying demographics have been the driving force behind the growth. Canadian incomes cannot compete with foreign buyers as they do not reflect the local market thus eliminating local competition and purchasing. Studies have also shown that white collar crime could be common occurrence regarding of foreign buyers. Many Canadians feel buying a
Table Of Contents 1.0 2.0 3.0 Introduction Executive Summary Situation Analysis 3.1 Identification Of The Problem 3.2 Market Analysis 3.3 SWOT Analysis 3.4 Target Market Marketing Communication Strategy 4.1 Marketing Communication Plan/Objectives 4.2 Marketing Budget 4.3 Schedule for Key Marketing Communication Activities 4.4 Promotional Strategies 4.4.1 Advertising Strategies 4.4.2 Promotion and Public Relations 4.4.3 Sales Force 4.4.4 Comprehensive Support Program 4.5 Product Strategies 4.6 Distribution Strategies 4.7 Pricing Strategies 4.7.1 Potential Customer 4.7.2 Sales Forecast 4.7.3 Return on Investment (ROI) Conclusion
Recognition of consumer behavior towards the decision of marketing strategy is necessary for developing effective marketing plan
Executive Summary…………………………………………………………………………………………………3 Current Marketing Situation……………………………………………………………………………………4 SWOT Analysis………………………………………………………………………………………………………..6 Target Market…………………………………………………………………………………………………………6 Positioning and Competitive Map…………………………………………………………………………..7 Price……………………………………………………………………………………………………………………….10 Distribution…………………………………………………………………………………………………………….10 Sales Force……………………………………………………………………………………………………………..10 Advertising &
The second part will present the SWOT analysis based on internal and external environment. The last section is to set the marketing objectives for developing the marketing strategies.
Question: Outline the marketing process and explain the importance of each element of the marketing plan.
Market segmentation is usually regarded as one of the main elements of marketing, with benefit segmentation commonly referred to as the most meaningful form of segmentation. Even though the importance of segmentation is broadly accepted, limited research, do exist about cosmetic medical products (Mohr, Sengupta, & Slater 2010, 79). There are very few real examples of segmentation studies available. This article has focused on Johnson and Johnson products marketing strategy globally. The spread of global culture is normally facilitated by the rise of global capitalism, the proliferation of transitional corporations, homogenization of global consumption, and widespread aspiration for material possessions. International market researchers have discussed the breadth of convergence of cultural values across countries.
This paper presents a marketing plan for the Electric Car Corporation (ECC); a first mover in manufacturing an electric car in the United Kingdom. The paper starts with a brief introduction to the company, its product offerings, and areas of operations and then explains why a marketing plan is essential in the strategic planning process of an organization. Afterwards, the process of new product development at ECC has been discussed. The marketing plan starts with a comprehensive situational and SWOT analysis of the company as well as its new product offering. In this paper, the SWOT Analysis is done to analyze the company's core strengths, major weaknesses, potential opportunities and threats which can be helpful for its short term and long term marketing planning.
Whereas the mission defines the scope of a business or business unit and the goals define its strategic performance dimensions, its business unit competencies determine the means for achieving success.