Marketing Plan Elements

Marketing- Infilling a market lead ethos thought out, researching on external opportunities to understand current and potential customers, developing the marketing plan and strategy. Managing budgets and market success.

• Product: Is the company's product something new, or does it fill a gap in a particular niche? Is it a quality product? If not a new product, will it compete effectively with existing products?

In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil

Develop a marketing strategy before making a marketing strategy, you need to know the market if the product will gain support to the consumer. Simple things such as segmentation, targeting and positioning are part of marketing strategy. A company should know how to compete to its competitors and has a high expectation to its product and has a better understanding of its target market. A company should have ability to invest money and can afford to have a great positioning in the market and can satisfy smaller to larger market that leads to a more efficient use of resources.

| * A need to have a certain product * Consumers will search until that product is found * Need products that stand out from others * Customers have problems making decision so the company will have to try to make that decision easier for them

Competition is a healthy and important part of doing business. It keeps everyone on their toes so to speak. Differentiating your business means defining your company in relationship to the competition. It means continuously making improvements and reinventing yourself. If you want to differentiate your business, you need to look at your business from your client’s point of view. By educating our clientele concerning the use of organic products that leave your skin and hair feeling vibrant and young, Impressions Salon & Spa has taken steps to set ourselves apart from our competitors. Some points of differentiation include: quality, performance and leadership, superior service, and customer support. Creating a differentiation strategy is to develop a Unique Selling Proposition. The Unique Selling Proposition is the biggest marketing weapon and is the key to differentiating your business from others like you.

This is where all of your conceptual discussion comes true in the marketplace. What does your product look like? Where are you selling it? How are you communicating with your consumers? What price signals are you sending? How do you service the customer through the decision process and post purchase?

An analysis is done on how the customer perceives the company’s products in comparison to the competitors’ products. Based on this understanding and the competitors’ prices the pricing is done.

Canterbury renovation is a chain of homeward store in city that specializes in bathroom fittings, bedroom fittings, mirrors and decorative items. The organization is considered to be the provider of efficient and cleanly designed products that have had a large impact on the way homemakers shop, and received such recognition that the store was made into a chain in order to fulfill the needs of a larger consumer market. Canterbury renovation offers bathroom fittings, mirrors, bedroom fitting and decorative items to its customers. The analysis of each of the aspect of the company overview is provided under the following heads.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

Product: Product should possess the best quality as compared to its competitors and provide state of art products to its suppliers. I will get the product certified with ISO that will help me in developing a USP for positioning the product in the market.

These factors are target market, Nature of product and services, Stage of the product life cycle and budget available for promotion. A target market can be in any of six stages namely: awareness, knowledge, liking, preference, conviction and purchase. Product related issues to be considered are :Whether product is demonstrable or not, what kind of services are required, what price is acceptable by target market and how much customization is possible. Product life stage calls for understanding of various phases such as : Introduction, growth, maturity and decline. Last but not least is promotion budget. Different methods are available for preparing budgets. (gupta, 2010)

the unique product in hole. Increase brand awareness and sales by the development of the

Starting a new product is never easy for a company. The difficulties they face are diverse in nature, and often they lack initiatives so that customers are not interested in the product.

Product – Product can be defined as the goods or services which is made to fulfil customer’s demands and needs. While making the product company should take care about its quality and features must be according to the customer’s needs to satisfy them.