The paper “ The Role and Purpose of a Marketing Plan to a Medium-Large Sized Manufacturing or Service Сompany" is an affecting example of term paper on marketing. When a company, person or business firm decides to make a business plan, an important component of that overall business plan will be the marketing plan. A marketing plan is meant to clearly pinpoint the direction that you have decided to take in order to market your business, brand or service. It also acts as a guide on how to promote your business, attract and retain customers and exploit identified marketplace opportunities. Marketing is a very sensitive issue to a company as it determines how an organization performs generally knowing very well that marketing is involved in selling the company and its goods or services.
Therefore planning on how to carry out the act requires careful considerations with the full knowledge of what is being sold and the view of the customers towards the good or service being sold to them. This paper looks at considerations put in place in the making of a market plan for a vehicle manufacturing company, Ford Motors.
The company is considering this decision in light of its entry into African market with a new brand, Ford Escape2008. A new market plan is required to market this new brand which is an improvement of previous Ford Escape models. This therefore calls for a different approach in marketing for it has an entirely different target market than other target markets which are already taken care of. Factors That Determine the Making of a Marketing PlanThe following constitutes considerations made during the making of a market plan (a) Determine the challenges (b)Analyzing the situation (c)Market segmentation (d)Marketing Strategies (e)Alternative marketing methods/strategies(f)Short & Long-Term Projections(g) Controlling resultsChallengeIt is important to come up with a statement giving a detailed description of the product or service that a firm has decided to take in order to market your business.
It is paramount to overall knowledge of the product being marketed and what are the expected goals such as the sales figures and the strategic goals. On realizing the challenge that is ahead of the firm, it is necessary that important requirements are put in place.
This may consist of increasing the staff though this is mainly done after establishing the marketing strategy to be applied. The challenge statement should put to detail the role of each staff and breakdown the company's objectives into smaller manageable ones. Situation AnalysisIn analyzing the situation prevailing in the market, the customer should make the first priority. The number of customers being targeted determines the intensity of the whole process. A large population will call for a more intensified exercise and vise versa. The way forward ought to recognize the strength of concentrating a particular consumer base with a selected basket of goods or service.
The consumers taste, behavior, and personal attributes should also be considered. Adding value to the product or service in question is what drives and re-energizes the marketing process. In analyzing the situation, the firm should differentiate the competitors from the collaborators. Collaborators do range from potential companies that the company may consider in making a joint venture to distributors. This may at times include other firms that the company is capable of turning into subsidiaries.
On the other hand, competitors should be analyzed in way to tell their market position either as a market leader or follower. It is at this point that we analyze the market in which the company is to operate in. In order for a company to have the best and reliable information various tests are done. The main ones are SWOT analysis and PEST analysis. Here is how these tests are conducted.