Marketing Plan: Final Paper

6530 Words Jun 9th, 2012 27 Pages
Marketing is essential for every business, be it a small household business or a large multinational group. All businesses depend on marketing in one way or the other. Setting of goals according to entrepreneur’s visions marks the starting o f the plan. It is better to do proper research and documentation before launching a product in the market or else the results will not be according to one’s thinking. Raymond Morose is the owner of Pet Palace and has been running this business for the last 44 years (Manta, 2010). Raymond Morose is running the business with a small staff but is very clear about his goals, as he has set his goals according to SMART approach. SMART stands for specific, measurable, achievable, relevant, and time-based and …show more content…
This will not only retain the existing customers but will also attract new ones to increase the customer base to optimal level.
SWOT Analysis – Allergy Be-Gone Marketing plan is always based on information regarding product, customers, market and competitors. The best way to analyze all this information is through a SWOT analysis. SWOT stand for strengths, weaknesses, opportunities and threats. This analysis takes into account both internal and external factors, internals being strengths and weakness, and external being opportunities and threats (Kotler & Keller, 2009). Pet Palace can get to know its strengths and weaknesses by its analyzing internal environment. Strengths of Pet Palace include its good name, its loyal customer base and its product quality. Pet Palace should overcome its weaknesses if it wants to gain from its strengths. Current business of Pet Palace is retail store business and it has no experience of production business. Allergy Be-Gone requires a production unit and production skills that Pet Palace does not possess. This can make the capital requirements higher than anticipated. Pet palace can earn huge profits from Allergy Be-Gone because the currently available solution for allergy problem cannot match with it. Currently available options to customers are shampoos, hand sanitizers and air purifiers (Allergy Relief Pet Care Products, 2010). All of these are

More about Marketing Plan: Final Paper