PRICING: Prices will be earmarked to meet middle income earners purchasing levels since most of UK population consider themselves middle or working class people (BBC 2009). This marketing plan will use customer based pricing approach since we aim to penetrate into the market by persuading consumers from switching to virgin range of laptops;
1 Virgin ultra-laptop 14” (windows eight) – £650
2 Virgin ultra-laptop 15.6” (windows eight) – £700
As part of the market planning process, you must learn about your competitorsand how to position yourself in relation to them. Describe your strengthsand what you want to emphasize. Once you identify both direct and indirectcompetition (for example, the Internet as indirect competition), you candetermine how and why your services are special and benefit users in aparticular way. You can compete based on value, price, product, or service,or some combination of these. Your unique position in the marketplace mustbe touted in your marketing programs and marketing literature.
Without question, fee-based services require a business and marketingplan, since, as Ward explains, starting or managing a fee-based informationservice is very much like starting and running a small business.
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The marketing plan is a document that outlines how the business ..
The UK market can be divided into two tiers: national brands and other. National brands are produced by approximately 15 sizable companies and currently account for some 30% of all wholesale sales. The second tier, accounting for 70% of all apparel distributed, comprises small brands and store (or private-label) goods. Apparel is sold at a variety of retail outlets. Based on data from NPD Group, discount stores, off-price retailers, and factory outlets accounted for 30% of 2009 apparel sales, while specialty stores and department stores accounted for 22% and 18%, respectively.Another 17% were sold at major chains, and direct mail/catalogues accounted for 6%. The remaining 7% of apparel sales occurred through other means of distribution Market Segmentation The company plans to target females between the ages of 30 and up with a combined household income of more than €60,000. Within this group, there are no ethnical barriers, and customers have diverse backgrounds. The brand customer is a versatile woman who can fit into any environment and is willing to pay a middle market price for quality clothing.Customer currently shop in quality department stores and boutiques for mid to high value items that are used on special and semi-special occasions in a work and personal context. Customer is socially active, eating out, travelling and entertaining at home in addition to attending business related functions. The company’s target group is seen as having enough disposable income to spend on middle market priced quality clothing.Competition in our market segments is usually driven by who is offering the best quality, most interesting design for less. The key to success is the quality of the clothes:
Examples and Samples; Essay on “Marketing Strategy and Plan ..
A. Develop a proposal for your chosen business’s global strategic marketing plan in which you do the following:
1. Identify two new products and/or services that the company can sell or offer to a global market.
a. Discuss three different methods you used to determine that there is both a need as well as an existing global market for these products and/or services.
b. Explain one competitive advantage that the company will gain by offering these new products and/or services to a global market.
c. Discuss two inherent risks associated with launching the new products and/or services to a global market and how to minimize these risks.
2. Discuss the customer relationship management (CRM) software system you prescribe to track product and/or service inquiries and sales.
a. Explain how the information generated by the CRM software will be used to continue to drive CRM practices and track sales in a global market.
3. Discuss at least one distribution channel for the two new products and/or services.
a. Analyze key considerations for entering a global market (e.g., regional trade alliances, agreements, environmental forces).
b. Analyze how the global supply chain may affect the product or service.
4. Discuss a major pricing strategy (i.e., cost plus pricing, competition-based pricing, break-even-based pricing, penetration-based pricing, premium pricing) aligned to your products and/or services’ position within the overall market strategy of the global marketplace.
a. Identify costs associated with developing and launching the new products and/or services.
b. Evaluate consumer acceptance of the price set for the new products and/or services.
c. Evaluate competitor prices for similar products and/or services.>/p>
5. Discuss the promotional strategy you will use to promote your products and/or services in a global market.
a. Identify two mass media and two social media channels you would use to promote your new products and/or services in a global market.
i. Justify why you chose these channels based on market segmentation (e.g., demographics, psychographics, behavioral characteristics)
b. Discuss two sales promotion activities (e.g., coupons, games, contests, sweepstakes) you would use to promote your new products and/or services in a global market.
Without a solid marketing plan, too much is left to chance. When you rely on “hope based marketing” you’re at very high risk of losing money, time, and traction, because nothing is strategic and everything is reactive.
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A marketing plan has several facets that are related to accountability. This plan is basically a and leaders of a company. It is a commitment that the marketing staff and leaders make to take the company towards a specific direction. After outlining strategies and developing tasks, each team or person is assigned a task to implement. Assigning roles to the marketing staff as indicated in the marketing plan makes tracking milestones and communicating with employees during the implementation process easier.