Letter of Transmittal
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28th May 2011
Ms. Jessy
LEGO Group,
28, Jalan Senget,
10350 Kuala Lumpur.
Dear Ms. Jessy,
Enclosed is a report detailing the preparation steps needed to do before launching the products in the domestic market. As discussed during our meeting, I have also made recommendations tailored specially to your business’s need.
The report provides background to the company and industry as well. Benefit and features of the product lines are also briefly explained. The report also provides in-depth analysis on the external environment of the market. Other than that, recommendations on product strategy, promotional strategy, pricing strategy and distribution strategy are included in the report.
The information
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Marketing plan contains of marketing objectives and strategies for segmentation, target markets, positioning, and marketing mix (Kotler & Armstrong, 2010, p.78).
A clear marketing plan will acts as a proposal for the company to achieve goals. Other than that, a clear marketing plan will also achieve competitive advantage in term of cost leadership, and the differentiation of new or existing products and services (Keetch, n.d.). With a marketing plan, the company will know the pricing of the competitors, thus the company will try to reduce the cost of the product and lower the price in order to compete with competitors. Through differentiation strategy, company will distinguish their own products by increasing the quality of the products or making improvement towards the product to gain competitive advantage.
The drawback of marketing plan is marketing plan will lead to wrong decision making (Bellis, n.d.). Wrong analysis of the data and wrong interpretation in marketing plan will lead company to a wrong decision making. A wrong decision making will cause company a huge loss in term of monetary and also market share.
Moreover, there is insufficient information regarding LEGO in the Malaysian market. Most of the information available refers to the situation or example in the western
A marketing plan can be viewed as a roadmap in which an organization navigates through a sequence of steps in order to promote a service, goods, or program (Thomas, 2015) (May, Apr 12, 2012). Therefore, in order to initiate the occurrence of any marketing activity, it is vital to have a marketing plan to follow in the event to create awareness, attract customers, and to gain business (Thomas, 2015). In having a marketing plan, the organization must delineate their marketing initiative through a sequence of designated steps by strategically organizing, marketing activities while defining who will be their targeted potential customers (Buttell, Jan/Feb 2009). In meeting the strategic objectives of a marketing plan, it should
A marketing plan is a comprehensive blueprint which outlines an organization 's overall marketing efforts. A marketing process can be realized by the marketing mix, which is outlined in step 4. The last step in the process is the marketing controlling.
o Marketing plan is a document that lists activities aimed at achieving particular marketing outcomes in relation to goods or services. The plan provides a template for
A well-developed marketing plan is an essential blueprint for a business to attain the prime financial support and consumer base it requires in order for it to develop and grow. A marketing plan’s detailed structure allows manager’s to define the business’ marketing strategies in clear and in-depth formats that feature a precise roadmap to future growth and expansion. A first class and properly structured marketing plan will guide the entire organization’s marketing actions and keep them focused and dedicated toward achieving the company 's overall goals and strategies.
The aim of the report is to research, define and analyse the target market, segment, competitor product and marketing mix as they are important prior to the product launching.
Marketing planning involves looking at all angles, the best strategy that will enable a company utilize it resources efficiently. Organizational resources are scarce and thus planning become inevitable. Analyzing the marketing requires adequate knowledge with proper strategies to seize opportunities that exist. Market planning requires that organization understand their internal and external environment. Internal
Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in
This report will consist of 3 parts. Part A focuses on the situational analysis, Part B focuses on the objectives and Part C focuses on the marketing plan.
The Marketing Plan is a highly detailed, heavily researched and, hopefully, well written report that many inside and possibly outside the organization will evaluate. It is an essential document for both large corporate marketing departments and for startup companies. Essentially the Marketing Plan:
A successful strategic marketing process must be thoroughly developed prior to implementation. A strategic marketing plan according to Vega & Rojas (2010) is “to assign and to coordinate effectively the marketing activities and resources in order to achieve the company’s goals or strategic mission" (p. 3). The strategic plan must include target goals consistent with the company's mission statement, a plan for implementation, and a process for controlling and correcting deviations. Target goals are met by identifying marketing segmentation, which is targeting a specific market for a particular service or line
Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company’s marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix.
This new product launch marketing plan gave a detailed view of target markets, key buying behaviors. It also showed how each stage of the PLC would be managed
A marketing plan is a written document that summarizes what the marketer has learned about the marketplace, indicates how the firm plans to reach its marketing objectives, and helps direct and coordinate the marketing effort.' Kotler et. al. (2006) The marketing plan for Imperial Tobacco will include an overview of the company (strategy, values, financial situation, market share and management
The main purpose of writing this report is to explain what are main elements of a marketing plan. To deeply understand what are main elements of a marketing plan, defining marketing plan and being aware of the importance of marketing plan first is necessary. Marketing plan basically consists of description of the target market, competitors, and product or service, marketing strategy, analysis, and marketing budget.
A strategic marketing plan focuses on the goals, objectives, strategies and strategies related to the goals. Goals are comprehensive and it provides the general guidelines on how the marketing organization wants to achieve, such as an expanded market segment (Kotler et al, 2013). Objectives are tied up together with target goals and provide further specific, determinate results - for example, an increase in the market share of a specific geographical area for a particular product, with a certain amount