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Essay on Marketing Plan

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❶Introductory pricing will be differentiated with the post launch pricing taking into account the first mover advantage. Distribution This process involves ensuring the products reach the customers on time.

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2.3. Market Assessment
Essay on Marketing Plan
Marketing Plan Essay – Get Ready for Some Serious Work

I believe that an indoor baseball practice facility and batting cages will be a thriving business. The local competition consists of a Family Fun Center that has old style, outdoor, batting cages only.

These cages are often over crowded and are often defective. Also, when it rains or is cold, business drops off dramatically. The Chula Vista area is experiencing rapid growth and a rapid influx of baseball players, from Little League thru High School, that will need a place to train, year round, to give them the competitive edge that they will need to be successful.

The Golden Spikes Baseball Center will provide baseball players of all abilities the opportunity to hone their skills and to become as successful as they can be. The local Chula Vista area is devoid of such a facility and the time is right to establish an indoor baseball practice and batting cage facility.

It is clear that the overwhelming majority of baseball players both at the Little League and high school levels are boys. The five percent that I am estimating for females comes mostly from the local high school softball teams that I will market this facility to.

The five percent could, therefore. Change for the positive. There is need for a high quality indoor baseball practice facility. There is a practical need baseball practices to be as controlled as possible. An indoor facility satisfies this requirement. There is a need to combine both an indoor practice facility for baseball with state of the art batting cages.

Players and coaches are looking for a controlled environment in which to hone their skills. The Golden Spikes Baseball Center provides such an opportunity. Trends for such a facility are favorable. I can think of three major trends that will allow this business to be successful:. Particularly in Chula Vista. There will be many more families with many more kids moving in. The time is right to establish an indoor baseball practice and batting cage facility.

Disposable income is becoming tighter and tighter for many families. Strengths The major strength that I have is the growing community. I moved into this neighborhood three years ago and there were still many areas of open spaces and grazing fields for cattle. All of those areas are gone. In their place are houses upon houses.

This means more families and more kids. When I moved in three years ago, the local Little League was just forming.

Today, kids are being turned away from the league because the league has reached its breaking point. Another powerful strength is the relationships that I have built within the local Little League community.

I have coached in this league since its inception and I have made some solid contacts. These contacts also stretch into the local high school community. I have also been involved in the sport of baseball for most of my life. I have a keen sense as to what coaches and players are looking for in a practice facility. Weaknesses The major weakness that I am faced with is that I have no experience in establishing and running a business.

I have always worked for Fortune companies and the thought of starting my own business scares me to the point of paralysis. I also am not independently wealthy nor do I have a rich uncle with cash to spare.

The South West, which is a tourist destination region, has the next largest cluster of hospitality establishments. Appendix 2 details the corresponding projected employment levels and the change in catering and hotels for the period from to Recent industry research reveals that views on the comparative performance of the different categories of hotels cover a wide range.

Some researchers aver that the four-star and five-star hotels viz. The best returns are estimated for hotels in the medium level categories, whilst the low budget and luxury hotels are making profits PwC, , p The adopter categories are expected to comprise of hotels and their ultimate individual customers.

JKL Plc needs to address target market segments that will minimise the speed to market and maximise the sales and profitability of the company. It is this group of establishments that is professional and profitable. Within the above target group, the company needs to first focus on the medium level category of hotels viz. This will also include the budget hotels category, which is expected to continue to perform well in future. This needs to be followed by addressing the luxury and low budget hotel segments.

JKL Plc, with regard to geographical spread, needs to initially address the hospitality establishments that are situated in London and the South-East region of England. This should be followed by the next largest cluster of establishments, which are located in the South-West tourist destination region.

The marketing mix of JKL Plc, as indicated by the 4P configuration of product, price, promotion and placement, is provided below. The functionalities of MRD have been thoroughly detailed in the earlier Section 2. The product positioning enables MRD to be considered as a fully-converged convenience device that is energy friendly and helps in improving the comfort levels of all the customers of the hospitality industry.

JKL Plc will differentiate its pricing according to the needs of the different target market segments and the corresponding value added functionalities preferred by the prospective customers.

Introductory pricing will be differentiated with the post launch pricing taking into account the first mover advantage. There is no competition within the fully-converged devices market, as yet. However, the pricing structure has taken into account the prices of remote devices that are less converged in terms of the functionalities offered.

JKL Plc needs to engage in extensive promotion and advertising activities. Although it does undertake adequate marketing activities for its established FMCG business, it will need to create a fresh budget for the integrated marketing strategy that includes promotion and marketing activities for the successful introduction of the MRD.

The marketing message for the new product introduction has to be created in consonance with marketing objectives, the target market, other key stakeholders and the vital USPs or features of the product Scott, , p The company will need to engage in promotional activities that span the pre-launch, launch and post-launch phases, including participation in industry and trade fairs. It will also need to focus on industry print media including specialised trade and industry journals and magazines.

It is a nationally acclaimed event that promotes green and environment friendly causes. The launch will also be aired on national and local TV and radio. The company will organise a string of presentations and demos to industry participants, mainly hotels and specialist electronics retail outlets that will stock the product.

Such events could also be held in the relevant trade and industry platforms. The firm will also make use of internet tools such as chat rooms, social networking sites like Facebook and Twitter and the organisational website to maximise national reach and encourage product discussion. The hospitality industry is generally considered to lag behind in technology implementation. This has become a barrier to technology adoption as faster technology evolution constantly renders current technology obsolete Khosrow-Pour, , p However, the major barriers to technology adoption lie in the cost of technology deployment, the standardisation of technologies that are required to be converged and security of the e-commerce payment mechanisms.

The speed of adoption is largely related to the above factors, along with the bandwidth speeds that are becoming increasingly important due to the requirement of immense volume of real-time online content. This issue will also be addressed by JKL Plc through its various communications and campaigns to its potential customers. It has been assumed that the concept testing exercise has also been successfully conducted and the trial rates and repeat rates confirm the potential of the product.

The trial rate represents the extent and speed with which customers will make an initial purchase of a new product. The trial rate is checked jointly with the repeat rate to gauge the sales potential and the consumer satisfaction of the brand. Adequate stocking will be ensured to satisfy the forecasted demand across all sectors and geographical spread of the industry. The distribution network and its modes will also be in place well before the launch of the product.

Budgeting is critical to all marketing plans. The details of the budget for the introduction and launch of the MDR will need to be prepared by considering the different costs associated with MDR kits, the pre-launch beta testing at potential customer locations, press releases, post-launch promotional events and media expenses as well as annual promotional expenses.

Table 1 below details the MRD sales forecast and the related marketing budget for 5 years. It is felt that the sales forecast should be based on the total room stock of approximately , rooms, excluding the , that are not available for a considerable part of the year. However, room supply has been assumed to grow at 5 percent per annum. The MRD sales have been assumed to grow from 3 to 12 percent of the target market during the 5 years.

The average MRD price of GBP in year 1 is expected to stabilise at GBP for years 2 and 3, followed by a 20 percent drop in the subsequent 2 years due to economies of scale. The launch event allocation of GBP , is considered to be adequate for about invitees.

The post-launch promotional activities will include the cost of site displays, press kits, promotional material and merchandising material. It is felt that the post-launch media expenses of GBP , in year 1 should suffice for the TV, radio and print media.

Annual promotional expenses have been considered at 1. It is imperative that a market feedback mechanism be put in place for periodic evaluation of the new product. Corrective measures will consequently need to be taken to rectify the product malfunctions and issues that are thrown up by such feedback.

The resultant coordination between the design team and production will lead to better product performance and speed of adoption and ultimately to improved customer satisfaction levels. A well structured system is required to be established to ensure periodic financial performance reviews that compare budgets with actual performance.

The product performance reviews need to address the customer and market issues. Damage control is an integral part of marketing activity Scott, , p 8. The product performance can for instance be impacted by an unsatisfied customer who could complain about its mode of functioning, user friendliness or even its digital display. This project report involves the preparation of the marketing plan for the launch of the MRD for the hospitality industry in UK.

The relevant product and market assessments have been done and it has been demonstrated that there is a definite market for converged electronic devices that can be suitably deployed in the hospitality establishments throughout the target market.

It is evident from the marketing plan presented above that the product has good potential for its introduction in the UK hospitality industry. However, adequate care needs to be taken for the successful implementation of the project, especially considering the fact that the group will have first mover advantage.

It is important that a proper feedback mechanism be implemented to enable product enhancements in order to maximize customer convenience and satisfaction levels. Skip to content support superbessaywriters. Product Concept The single integrated application on the MRD is designed to enable access to most of the premium and desired functionalities and services offered by the hospitality establishment to their customers.

Technical Assessment Both wired and wireless technologies enable the integrated functioning of portable remote devices for availing multiple functionalities concurrently. Market Assessment The European hotel industry is controlled by independent, managed and family owned small hotels.

Political Conditions The political environment within UK is stable. Economic Conditions Considerable medium and short term risks still exist in the current economic environment. Technology Conditions There is robust implementation and consumption of high technology merchandise. The technology savvy population is open to innovative products Environmental Conditions Direct savings in electricity consumption will be achieved with the MRD introduction. Legal Conditions Innovative products need to comply with UK statutory, regulatory and electronic standards.

Target Market The adopter categories are expected to comprise of hotels and their ultimate individual customers.

2. 2. Technical Assessment

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Marketing plan A marketing plan is a detailed, researched and written report that a business uses in order to outline the actions that should be taken to.

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Free marketing plan papers, essays, and research papers. Marketing Plan essaysMarketing Plan: The overall purpose of a marketing plan is to develop and establish a direction and detailed strategy for marketing efforts. This could either be a composite plan for a portfolio of brands or for a single brand. The preparation of a marketing plan involves thr.

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Mar 28,  · Marketing plan A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line. Marketing plans cover between one and five years. A marketing plan is a detailed, researched and written report that a business uses in order to outline the actions that should be taken to customers and c.