Marketing Plan Preparation For Extreme Dents Pty Ltd

Describe goals and objectives as they apply to business. pg 181-182; wk 6 lecture, pg 1

How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.

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3. List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5

I've been a long time buyer of [product, service] and can't imagine buying anything else. I know a lot of folks probably email to complain and it can be tough responding to those, so I thought I'd add a little sunshine to those.

“One of the most talked about ideas in marketing during the 1990s was the notion of integrated marketing communications (IMC). And while marketing managers still clearly feel that it is a valuable concept and one that will play an increasingly important role in their companies, there is unfortunately a great deal of evidence to suggest that truly integrated marketing communications is the exception rather than a rule”

Mariotti & Glackin (2013) provide that development of marketing strategy and competitive advantage is from the "Four P's". The "Four P's" include product, price, promotion, and place. This paper further outlines each of the "Four P's". Mariotti& Glackin (2013) recommend continually referring to the mission statement and vision statement while developing the marketing strategy. This reference helps to build the marketing strategy and form the core competency for the business. The first part of the business plan, the mission and vision statements, are stated below:

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D1. 4Ps: Discuss each of the four Ps of marketing as they relate to the company’s products and services.

Several facts are changing in today’s marketing communications. Owing to the growing numbers of alternative communication media and promotion, marketing communication does not just primarily focus on advertising and promotion. Organizations and entrepreneurs begin moving toward the process of integrated marketing communication (IMC), which has emerged as a new concept and the major communication development in marketing in the 21th century. More and more companies adopt IMC to convey a consistent message about their brand and products to derive competitive advantage and brand value. In addition, IMC has developed into a beneficial strategy for companies to reach more customers as well as build good customer relationships. Smith et al.

Marketing plan for the business which consists of 4 P’s Product, price, place and promotion

Product, Price, Place and Promotion also commonly known as the 4P’s are the major factors or tools with which a firm or an organisation operates in the market by offering a superior value proposition to its clients and customers and thus earning value back from them in return to achieve the objectives of its shareholders. These 4P’s are combined together to form the marketing mix of a firm.

The 4 P’s of marketing will be evaluated during this stage. The marketing plan and promotional mix allows the business to build a strategy for the delivering packaging, pricing, promotion, and communication vehicles to provide the best value to the consumer. A sound marketing plan is vital in winning in the market place.

The 4 strategies are product, place, promotion, and pricing. Before you touch on the other P’s you have to have a product. Figuring out your product is the first thing. The product includes packaging, warranty, after-sale service, brand name, company image, and value. Next you want a Place which involves the physical distribution and involving all the business activities concerned with storing, transporting raw material or finished product. You want to make sure you products arrive in good condition at the designated place when needed. In order to get you product into places and be recognized you will want to promote your product which brings us the 3rd “p”, “Promotion”. Promotion includes advertising, public relations, sales promotions, and personal selling. The promotions role is to bring about mutually satisfying exchanges with target market by informing, educating, persuading, and reminding them of the benefit of a product or organization. The most flexible of the

Here is an example: ABC Company introducing a new detergent to the market in their first year marketing objectives is ‘to capture 5% of the detergent market in Britain within the first year of operation’.