MARKETING PLAN 4 Running Head: MARKETING PLAN 1 Table of content 1.0 Executive summary 4 2.0 Situational Analysis 5 2.1 Market Summary 6 2.2 SWOT Analysis 6 2.3 Competition 6 2.4 Product / Service Offering 7 2.5 Keys to Success 7 2.6 Critical Issues 8 3.0 Marketing strategy 8 3.1 Mission 9 3.2 Marketing Objectives 10 3.3 Financial Objectives 11 3.4 Target Markets 12 3.5 Positioning 13 3.6 Strategies 14 3.7 Marketing Mix 15 4.0 Controls 16 4.1 Implementation 17 4.2 Marketing Organization 18 4.3 Contingency Planning 18 5.0 Conclusion 19 6.0 References 20 Executive summary The marketing plan covers the organization Stay Fit situated in Hoffman estate. The privately owned business offers fitness services to its clientele. Economic growth in the nation is stagnant and competition facing the business is high. The business has adopted a marketing strategy to increase market share and ensure that it remains profitable. The paper evaluates the environment in which the business is located to determine the useful marketing strategies to use. The position of the company is also evaluated and the factors affecting its position in the market. The objectives of the organization enable the management to understand the goals of the organization. The paper covers marketing mix used by the organization as a marketing strategy. Marketing mix enables the organization to sell its products in the competitive market. Through marketing mix, the
One of the most important concepts of marketing is the marketing mix. The marketing mix must be delivered in the right way to the right people at the right time, it is important that all elements are given equal and balanced importance and managed. The marketing mix is considered as the blend and batter of the ingredients which determines the appreciation by the consumers.
The marketing mix is the general phrase used to describe the different kinds of choices organisations have to make in the whole process of bringing a product or service to the market...
Marketing mix is used at the MARC facility to develop and implement a plan to achieve organization goals. The four variables product, price, place, and promotion are within the organization’s control and therefore, the mix of those four elements are key in marketing decisions. Marketing mix is the combination of all the experiences, tools, innovations, and creativity that the MARC uses to make consumers their clients. All four P’s are needed in a marketing mix they should all be tied together. Revenue, while promotion, place, and product generate cost. Producing, designing, distributing, and promoting products come with expenses.
In this paper about the Marketing Mix, it will explain the elements of the marketing (product, place, price, and promotion). I have enclosed a chart about the Pricing Strategies Mix. I will also be selecting an organization by the name of Target in which I am familiar with and will describe the four elements of the marketing mix and how it impacts the organizations developmental marketing strategies and tactics.
Planet Fitness has taken the workout world by storm, reaching an amazing store count of 1,124 in only 23 years of business. This outstanding success didn’t occur through luck, but through fantastic marketing strategies that have had a considerable impact on other gym’s ideology on how to attract customers. In this paper, Planet Fitness’s creative marketing plan will be described in full, from what their product offers to how they successfully attack an extremely competitive market.
La Fitness Franchise Startup Cost, Profit Margin, Revenue and Locations LA Fitness is a widely known Health Club firm based in Irvine, California, Los Angeles, United States. In this article, we shall explore LA Fitness as a company and the franchise opportunity it offers to entrepreneurs and business persons. We shall commence by focusing on the antiquity of the firm. We shall then go ahead and look at the cost required to start-up an LA fitness franchise and the fee that the company asks its franchisees. We shall also be pondering the training and supports that the firm extends to its franchisees.
Figure 2.4 Managing Marketing Strategies and the marketing mix. Page 49 (Reference Armstrong, G., Adam, S., Denize, S., Kotler,P., 2015. Principles of Marketing 6e.6th ed. Melbourne: Pearson Australia Group Pty Ltd
The marketing mix is a combination of 4 P’s (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. ‘The marketing mix is designed to produce mutually satisfying exchanges with a target market’.
FitTime, like most other gyms and workout centers, operates in the fitness industry. The Fitness industry continues to steadily grow as entrepreneurs and small businesses see worthwhile market opportunity. With the ongoing obesity epidemic in the United States, fitness and exercise opportunities are becoming more and more popular for Americans. However, as a result of continued growth within the industry, fitness centers and gyms have become highly competitive businesses. In this paper, we will analyze strategies and processes related to the fitness industry and provide insight on how FitTime owner
The 'marketing mix' is a set of controllable, tactical marketing tools that work together to achieve company's objectives. The marketing mix analysis is also called 4P analysis. This analysis contains a set of controllable strategic tools of marketing which work in simultaneously to attain the objectives of an organization. In this paper we will analysis two organizations with respect to their marketing mix. The companies that I have chosen for this task are Pepsi Co and Coca Cola.
Submitted By: Submitted To: M.Umair Sheikh Mam. Anushey Reg# NI-F7-BBA-212 3rd Semester Date: 21st October, 2008 Introduction: Marketing Mix is a major concept in modern marketing and involves practically everything that a marketing company can use to influence consumer perception favorably towards its product or services so that consumer and organizational objectives are attained, i.e. Marketing mix is a model of crafting and implementing marketing strategy. There are four P’s in marketing mix which are: 1. 2. 3. 4. Product Price Place (Distribution) Promotion. SONY Corporation Sony Corporation is a multinational conglomerate corporation headquartered in Tokyo, Japan, and one of the world 's largest media conglomerate with revenue of
Marketing mix is nothing but a critical mix of right amount of efforts and mechanism that is made up of the product that an organisation offers, market segmentation and the marketing strategy, selling the product at the right price and to the right customers through right people.
Marketing mix refers to the enterprise for their target market needs, control various marketing factors (product, price, place and promotion) to optimize the combination and comprehensive utilization, in order to accomplish better economic and social benefits (Chai, 2009, p.4). Place and product will be attached more importance in this section.
For an organization of your choice, critically assess whether the marketing mix contributes to the success of that organization”.
Marketing mix is one of the basic and the very important part of marketing plan. It includes all the elements that are important for an organization from manufacturing to sale of the product. It can be considered as the set of marketing tools that blends together to generate a marketing response in the market. Every organization uses this tool to make its marketing plan. Primarily it consists of 4P’s, but now it is extended to 7P’s of marketing. (Jain, 2013)