Running Head: Marketing plan for Stock All
Marketing plan for Stock All
2
Marketing plan for Stock All
Student’s Name
Institution
Marketing plan for Stock All
A marketing plan is an essential element of any business organization as it determines the ability of such an organization to sell its product (Baker & Hart, 2016). It is through the marketing plan that an organization is able to identify its customers and provide them with products and services that will meet their needs. Prior to coming up with a marketing plan, it is important for a business to look at its products as well as the market. This enables it to understand the best strategies to utilize.
Introduction
Stock All is a business organization that primarily manufactures and sells smartphones. It is a new organization that has just entered the market and it is still learning on how well to establish itself. The company is based in California but has plans to go regional and global. As earlier stated, Stock All manufactures and sells smartphones that vary in terms of features and functionality. This variation enables the business to target different customers.
Environmental Analysis
Regardless of the industry in which a business operates, it is affected by a number of factors not exist both internally and externally. It is important for the marketing department to understand the factors in the environment to understand the best strategies that can be applied at any given point. Whether or not the marketing plan of a business will be successful depends on the kind of strategies that are applied and this can only be achieved if the environment is effectively analyzed.
i. Competitive Forces
The kind of a marketing plan that Stock All should utilize should depend on the competitive forces that exist. The smartphone market is among the most competitive given the number of businesses that engage in the industry. Basing on this, Stock All will have to create a strong and competitive marketing plan in order to get a significant share of the already crowded market.
ii. Economic Forces
Marketing is an investment that has an impact on the economic conditions of the organization (Lynn & Close, 2011). The management team of Stock All should determine whether or not this investment is worth it. Prior to creating and implementing a marketing plan, the business should you look at its financial resources. It needs to have sufficient resources that will enable it to carry out a successful marketing exercise. Basically, economic forces affect the ability of a business to market its products.
iii. Political Forces
Political forces also have a significant impact on the marketing activities of an organization. It is the political class that sets the regulations that govern businesses. Stock All needs to take into consideration what has been enacted as law to make sure that it does not infringe any.
iv. Legal Forces
Stock on should also ensure that it gets on the legal documentation before en ...
Running Head Marketing plan for Stock AllMarketing plan for S.docx
1. Running Head: Marketing plan for Stock All
Marketing plan for Stock All
2
Marketing plan for Stock All
Student’s Name
Institution
Marketing plan for Stock All
A marketing plan is an essential element of any business
organization as it determines the ability of such an organization
to sell its product (Baker & Hart, 2016). It is through the
marketing plan that an organization is able to identify its
customers and provide them with products and services that will
meet their needs. Prior to coming up with a marketing plan, it is
important for a business to look at its products as well as the
market. This enables it to understand the best strategies to
utilize.
Introduction
Stock All is a business organization that primarily manufactures
and sells smartphones. It is a new organization that has just
entered the market and it is still learning on how well to
establish itself. The company is based in California but has
plans to go regional and global. As earlier stated, Stock All
manufactures and sells smartphones that vary in terms of
features and functionality. This variation enables the business
to target different customers.
Environmental Analysis
2. Regardless of the industry in which a business operates, it is
affected by a number of factors not exist both internally and
externally. It is important for the marketing department to
understand the factors in the environment to understand the best
strategies that can be applied at any given point. Whether or not
the marketing plan of a business will be successful depends on
the kind of strategies that are applied and this can only be
achieved if the environment is effectively analyzed.
i. Competitive Forces
The kind of a marketing plan that Stock All should utilize
should depend on the competitive forces that exist. The
smartphone market is among the most competitive given the
number of businesses that engage in the industry. Basing on
this, Stock All will have to create a strong and competitive
marketing plan in order to get a significant share of the already
crowded market.
ii. Economic Forces
Marketing is an investment that has an impact on the economic
conditions of the organization (Lynn & Close, 2011). The
management team of Stock All should determine whether or not
this investment is worth it. Prior to creating and implementing a
marketing plan, the business should you look at its financial
resources. It needs to have sufficient resources that will enable
it to carry out a successful marketing exercise. Basically,
economic forces affect the ability of a business to market its
products.
iii. Political Forces
Political forces also have a significant impact on the marketing
activities of an organization. It is the political class that sets the
regulations that govern businesses. Stock All needs to take into
consideration what has been enacted as law to make sure that it
does not infringe any.
iv. Legal Forces
3. Stock on should also ensure that it gets on the legal
documentation before engaging in its marketing. The company
needs to get the necessary licenses and permits that will allow it
to perform its marketing efforts within the legal framework.
v. Technological Forces
Technology is a significant factor in business in the modern
world. For the purpose of having an effective marketing
exercise, is important for a business to utilize different
technologies to make sure that it achieves its target. Stock All
can consider technology buy marketing through different
platforms such as the internet and television. This will enable it
to reach a large number of potential customers.
vi. Sociocultural Forces
Businesses exist in societies that have different cultures. While
conducting its marketing efforts, Stock All should consider the
culture of the people in which it carries out its businesses. It
has to come up with strategies that are acceptable in the society
(Roger, 2012).
Target Market
Businesses exist in societies that have different cultures. While
conducting its marketing efforts, Stock All should consider the
culture of the people in which it carries out its businesses. It
has to come up with strategies that are acceptable in the society.
i. 4Ps
For the purpose of achieving effective marketing, a business has
to make the right decisions with respect to utilizing the 4ps of
marketing. As earlier mentioned, the product in this marketing
plan is a smartphone. With respect to the place, Stock All will
avail its products in different stores across the country for easy
access by but it's primary and secondary target market. The
products will be priced competitively on the basis of the
existing similar products. This will enable customers to have a
choice. As far as promotion is concerned, the company will use
4. different means to promote its product such as the internet,
television, and billboards at strategic locations (Erica, 2012).
ii. 5cs
The customer is the major focus in this case. They need high-
performance phones that are affordable. The company will
satisfy the needs of the customer by providing them with the
products that require. This will be analyzed through the
frequency of purchasing as well as the quantity of the products
purchased. The second C is the company. Stock All is a
company that is in a position to meet the needs of the
customers. Thirdly, there is competition. The greatest
competitors are Samsung and Apple because they target the
same customers. Fourth, the company will utilize collaborators
such as suppliers and distributors to make sure that the products
reach out to the market effectively and efficiently. Lastly, there
is the context. A business operates in an environment that is
affected by different factors. In this case, one of the limiting
factors is the economic conditions. The labor costs are high and
this will be expensive for the business.
STP
The SLP model basically consists of segmentation, targeting,
positioning. This are essential elements in marketing because
they have a significant and direct impact on the efficiency and
effectiveness of the marketing plan.
Through market segmentation, it will be necessary to determine
particular characteristics of specific market segments in order to
serve them in the right manner. To achieve market targeting,
stroke all will evaluate the potential attractiveness of the
different market segments and select one of them to focus on.
With respect to product positioning, the marketing department
will you make sure that communication is done in the right
manner for the market to understand what the product is (Baines
5. & Page, 2013). This will involve using effective communication
channels such as the internet and television.
Goals
In the next 1 year, the goal of the company is to create
awareness and attract customers. Basically, it is concerned with
letting the market know that it exists. In the next five years,
Stock All looks forward to being among the top smartphone
sellers in America. One of the ways to know whether or not the
goals have been achieved is by looking at their market share. A
significant increase in the market share will indicate that the
company has managed to achieve its goals.
SWOT Analysis
Strengths
1. Competitive marketing team
2. Financial stability
3. Effective marketing strategies
4. High-quality products
Weaknesses
1. Lack of market familiarity
2. Limited workforce
3. Inexperienced management team
4. Poor employee coordination
Opportunities
1. Exploring new markets
2. Applying better marketing techniques
6. 3. Improving product quality
4. Growth of the market share
Threats
1. Competition
2. Tough economic conditions
3. Political instability in selected areas
4. Risk of business failure
References
Baines, P. & Page, K. (2013). Essentials of Marketing. Oxford:
Oxford University Press.
Baker, M. & Hart, S. (2016). The Marketing Book. London:
Routledge.
Erica, O. (2012). Strategic Planning Kit. New York: John Wiley
and Sons
Lynn, R. & Close, G. (2011). Consumer behavior knowledge.
New York: Routledge
Roger, A. (2012). Marketing: The core. New York: McGraw-
Hill
Marketing Plan for (your company): Part 2 2
7. Marketing Plan for (the name of your company)
Part 2
Student Name Here
Strayer University
Prof. Mimi Kawwaff
November 9, 2015
Running head: Marketing plan for (your company) Part 2 1
Marketing plan for (your company): Part 2
This is your introduction paragraph. Here you will provide the
reader with an introduction to your paper.
Branding
Develop a branding strategy for your product that covers the
brand name, logo, slogan, and at least one (1) brand extension.
Marketing Strategy and Implementation Plan
Assemble a marketing strategy for your product, and determine
an appropriate time table to implement your plan). Provide a
rationale for your response.
Positioning
Prepare a positioning statement. Include a perceptual map
that shows your company’s position against its competitors.
From this map, create a statement that depicts your position.
See pp. 54 - 55 in the textbook for examples of perceptual
maps. You may use Microsoft Word, PowerPoint, or other
equivalent software to create your perceptual map.
Relevant Consumer Behavior
Examine the relevant consumer behavior for your target
market. Explain the main reasons why the brand name, logo,
slogan, brand extension, as well as the positioning statement
and marketing strategy are right for the identified target market.
Mission and Company Introduction
Develop your company’s mission statement and company
introduction.
8. References
(Insert relevant, high quality references in the following format.
You need more than 3 references here)
Access Eric, R. D. (1991). Emergent literacy: An early reading
and writing concept. Issues in Adult Literacy Education. The
ERIC Review. Retrieved from EBSCOhost Hansel, G., & Gretel,
D. (1973). Candied houses and unfriendly occupants. Thousand
Oaks, CA: Fairy Tale Publishing.
Hellriegal, D. & Slocum, J.W., Jr. (2011). Organizational
behavior: 2011 custom edition. Mason, OH: South-Western
Cengage Learning.
Imel, S. (1991).ERIC and the Adult Education Act: 25 years of
collaboration.
Retrieved from: http://www.ericdigests.org/pre-9219/adult.htm
Mulally, A. (2010). A message from Alan Mulally. Retrieved
from http://corporate.ford.com/news-center/news/press-
releases/press-releases-detail/message_from_alan_mulally