This article outlines the marketing plan for Desklib, an online library for study material. It covers the target market, positioning statement, marketing mix, and extended marketing mix. The article also includes information on process and people.
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Running head: MKT600 MARKETING MKT600 Marketing Assessment 2: Proposal Marketing Plan Student’s name: Name of the university:
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1MKT600 MARKETING Table of Contents Introduction......................................................................................................................................2 1. Marketing strategy.......................................................................................................................2 a. Recommended target market...................................................................................................2 b. Positioning statement...............................................................................................................4 2. Marketing mix.............................................................................................................................5 a. Products....................................................................................................................................5 b. Explaining the different levels of products and how Donald should apply.............................6 c. Pricing strategy........................................................................................................................7 d. Distribution..............................................................................................................................8 e. Promotional strategy................................................................................................................8 f. Extended marketing mix........................................................................................................10 Conclusion.....................................................................................................................................11 Reference List................................................................................................................................12
2MKT600 MARKETING Introduction A marketing plan is a strategy which outlines the business marketing and advertising efforts for the year to come of an organisation. Marketing plan mainly describes activities of the business which accomplish the specific objectives within the time frame (Fan, Lau & Zhao, 2015). Marketing in the recent time has drastically evolved and marketing is now the critical element for the business administration. Therefore, each of the organisations designs the marketing plan to apply the knowledge of generating an effective marketing strategy. Donald B is a chocolate product maker and owns two stores in Melbourne. Donald B wants to grow the brand internationally and nationally. Therefore, the purpose of the assignment is to devise a marketing strategy for Donald B. In the first part of the assignment, target market and positioning map of Donald B will be given. In the following section, the marketing mix variables are described with instances. 1. Marketing strategy a. Recommended target market Market segmentation Market segmentation is a strategy that involves segregating a broad range of target market into consumer subset based on the common interests, needs and priorities (Alt & Iversen, 2017). DonaldBcansegregatethemarketbasedonthegeographicsegmentationwherethe segmentation will be based on the rural and urban. Donald B has two stores in Melbourne based and the geographic segment of the market will be based on the semi-urban and urban consumers
3MKT600 MARKETING live in Melbourne. When the stores will be expanded to different locations in Australia, Donald B will target the customers based on urban and semi-urban consumers who live near the stores. Demographic segmentation of Donald B could be based on the income group and the age of the customers. Donald B can make segmentation based on the higher-income group and the young generation based on the age. Higher income group can afford to have money to visit the chocolate stores. Psychographic segmentation of chocolate consumers can be based on the personality, attitudes, lifestyles and class of the customers. Based on the psychographic segment, the buyer behaviour of the customers gets changed and the customers’ preferences depend on the size of the chocolate; large block, small block and bars. Behavioural segmentation can be done on consumers’ eating habits. Donald B can divide consumers based on who like to eat chocolates and who like to send the chocolate as gifts. The customers visit the chocolate outlets to spend time with the near ones and to have the best chocolate. The segregation of the market will be done on customers’ perception of the common needs, interests and priorities. Primary target market The primary target market of Donald B can be children and teenagers who are aged between 4 and 17. Donald B will set the primary target market based on the age and income group of the customers. The primary target market of Donald B will be from the higher income group as the customers must afford to visit the chocolate stores. Donald B's consumers will be young and fromthe higher income group.
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4MKT600 MARKETING Secondary target market Donald B has its current stores in Melbourne and Donald B wants to expand the business in different locations. Donald B’s secondary target market will be based ongeographic locations as the customers live near the stores will be target customers. In the geographic locations near the stores; all age groups will be targeted. b. Positioning statement As stated by Osterwalder et al., (2014), market position means the consumers’ perception of the product or the brand in relation to the competitors' in the market. Moreover, market positioning also means to the method of creating the image of the product in the mind of the customers. The positioning of the brand can be defined as the strategic process which involves the marketing of the products. A positioning statement is the USP of the product which makes the product or different from other competitors existing in the market. There are mainly three types of positioning; functional positioning is used when the product can provide a solution to the issue and the customers can get the benefits from the products. Symbolic positioning is useful for establishing the brand image that assists to create the brand equity. Finally, experiential positioning is about the making cognitive and sensory stimulation in the minds of the customers (Walker, Hanson & Enjeti, 2015). Donald B chocolate store can position itself by establishing the image of the product based on the audiences. As stated by Datta, Ailawadi & Van Heerde (2017), the brand image of the organisation can be made through intended advertising, promotions, pricing and placing strategies.Thepositioningstatementoftheproductcanbe‘sharinghappinessthrough chocolate in every occasion’. Donald B chocolate stores will be the best choice for the festive
5MKT600 MARKETING occasions and auspicious events in the family. Donald B can position itself in the market to be a luxurious chocolate brand which can provide comfortable chocolate outlets. In addition, Donald B gives the high-quality chocolate-based products which have fine taste. The wrapping of the Donald B products can be used in gold colour which will symbolise the luxury and wealth. Figure 1: Positioning map of Donald B chocolate outlet (Source: Self-developed)
6MKT600 MARKETING 2. Marketing mix a. Products Donald B owns two stores in Melbourne and Donald B wants to expand the business in different locations in Australia along with the international market as well. Donald B offers to the consumers cocoa product, confectionery, crystallised or glazed fruit, drinking chocolate, liquorice,marshmallow,candiednutandcandiedpopcorn.Theconsumerscanhavethe chocolate based products in the stores of Donald B or the consumers can also have the products in supermarkets of Australia like Woolworths and Coles. Donald B always focuses on the product quality along with flavour which must be rich and intense. Donald B uses the finest cocoa and the utilisation of modern artisan way makes the chocolate tastes perfect for the consumers. In the supermarket, Donald B can sell the box chocolate, chocolate bars, drinking chocolate, chocolate beans and dark chocolate. Donald B will offer chocolate products in two forms; first in the form of owned chocolate stores in different locations and second, in the supermarkets. Donald B may take the strategy ofproduct line stretchingbecause Donald B will expand the market to an international and national level where different types of products will increase the current customer base of the organisation. Donald B can launch new types of chocolate products which will be beyond the current chocolate product range with some additional feature. As stated by Stark (2015), product line stretching strategy can be used by the organisations in the down market or upmarket. Donald B can get the advantage of expanding the products as it is the growth strategy for the small organisation and it increases the market share and revenue. Donald B can come up with a completely new range of chocolate product or Donald B can upgrade to existing products by adding some additional characteristics.
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7MKT600 MARKETING b. Explaining the different levels of products and how Donald should apply Customers choose the products based on the products’ perceived value (Lee & Kotler, 2015).Core benefitis the rudimentary need that customers satisfy by having the product. Donald B can provide taste which will be the core benefits of Donald B’s chocolate products.The generic productis the version of the product which contains the attributes absolute necessary for the function. Therefore, a generic product of Donald B will be a chocolate based product. Donald B can come up with the low-end chocolate which costs lower price. According to Davies & Kitchen (2015), theexpected productis having the set of features which the buyers normally expect from the product. Donald B will provide the characteristics of chocolate products which are taste, chocolate colour and quality. Donald B will give the best ambience of the chocolate stores which will attract the customers with chocolate based products with right pricing. Augmented productis the additional feature or related attributes of the products which can make differentiate the product from the existing competitors. Donald B will take the strategy of product line stretching which will enable Donald B to make different products from the competitors. Donald B can make a chocolate product which will provide the flavour of strawberry or blueberry. In addition, Donald B can bring the new product containing cocoa nibs andsoft-texturedchocolate.Thepotentialproductcomprisesthetransformationand augmentation of the product which can be done in the future to ensure the customers' loyalty (Huang & Sarigollu, 2014). Donald B will use the product line stretching strategy to surprise the customers with new product range those will not harm the health of the customers. c. Pricing strategy Donald B has its stores in Melbourne and it is going to expand the business in Australia and in international spheres. It will sell the chocolate products in two ways; through outlets and
8MKT600 MARKETING through the product. Donald B will take the competitive pricing strategy as it sets the price of the products based on competition in the market.Competitive pricingsets the price of the products at the same level of competitors. It can be used by Donald B when Donald B will find the similar products. The advantage of competitive pricing is that competitive pricing avoids the price competition in the market (Toptal & Cetinkaya, 2015). Competitive pricing helps the small brand to make competition in the industry where the consumers can opt new product apart from the existing ones. The competitive pricing must cover the production cost and it may result to have the low profits. Competitive pricing let the organisation control the competition by preventing losing market share. d. Distribution Donald B wants to expand the chocolate outlets from Melbourne to different parts of Australia and in the international market. Donald B takes the supplies of raw materials from the local people and Donald B takes the supplies of cocoa from the international suppliers. Donald b can take the strategy of the franchise in order to expand the business. It will have its own stores and it will have the franchisee stores in Melbourne, Sydney, Adelaide and Perth. The stores of Donald B will be located in the urban and semi-urban areas where they can easily target the upper-class people and the young people. Donald B will segregate the market into two parts, a hypermarket and supermarket. Donald B will use selective distribution strategy as it is the strategy which lies and operates between exclusive and intensive distribution. According to Nagle & Muller (2017), selective distribution is associated with the selling of the products at outlets with specific locations. In selective distribution, Donald B will use more than one, however lesser numbers of intermediaries which can carry the products of the company.
9MKT600 MARKETING e. Promotional strategy Donald B will take the push promotions through direct negotiation with retailers and it will also take an efficient supply chain. Push promotional strategy is associated with taking the product directly to the consumers making aware of the brand (Tuten & Solomon, 2017). Donald B will take the strategy of the point of display and it will also take the right packaging design to allure the customers. On the other side, a pull strategy is associated with motivating the consumers to search out the brand in the right process. Donald B will take the mass media promotions through advertising and customer relationship management. Donald B will use print media to advertise the chocolate products through newspaper and magazines. Out-of-home (OOH) advertising will be done through hoardings and billboards. Donald B will advertise about discount pricing on the selected franchisee outlets which will increase the footfalls of the consumers. Print advertisements must be done using glossy, high- quality print and fantastic way. Donald B will start Facebook, Instagram and Twitter advertising. Social media is a cost- effective advertising strategy (Viloria, Wilches & Acuna, 2016). ActivitiesFacebookTwitterInstagram Organisation’sbrand presence Sharing content, news and stories Sharingpostsand tweets Sharingvideosand images Viral brand exposureFacebookpageand sharing a viral video Making tweeter page and retweets Company page Socialmediasite focus Comments, share and likes Tweets on right time and using the hashtag Comments and likes
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10MKT600 MARKETING Website trafficPasting direct link on Facebook Sharingthelinkon tweeter handle Sharingimageand link Donald B can also use SEO (Search Engine Optimisation) strategy as it will increase the numbers of users search for Donald B using a search engine. PPC (Pay-per-click) can also be used to increase the direct traffic to the website of Donald B. Donald B will pay the publisher when an advertisement is clicked by the users. f. Extended marketing mix Process The process is related to mainly service system and Donald B needs to manage the queuing system in the franchise and own chocolate stores while the customers pay the bills. Donald B can ask the staffs to prepare the chocolate based products in front of the customers in the stores so that the customers can observe the preparation of the chocolate. This transparency can improve the customer-organisation relationship. Donald B stores can start the alternative bill payment system as it can be done by using app payment. The stores can provide toilet facility or parking facility. The smooth process can improve the retention of the customers and process can tailor the needs of the individuals. People People are the employees of the organisation and services are consumed and produced at the same moment. In the Donald B chocolate stores, the staffs need to be trained and the staffs mustbehavewellwiththecustomers.Salespersonsaredifferenttypes;productdelivery salesperson, missionary salesperson and technical salesperson (Wei, Samiee & Lee, 2014).
11MKT600 MARKETING Donald B can employ the salesperson to sell the chocolate and PR team will be used as a technical salesperson to identify the needs of the customers. Customer services give expertise, technical support and coordinate the customers according to their needs. Donald B can employ the skilled employees so that young employees can ensure the success of the organisation. Donald B needs to ensure the training of the employees. Physical evidence In Melbourne, Donald B already has two physical stores and Donald B is going to expand the business in different locations. Donald B’s stores, legal papers, buildings, products and office builds are the physical evidence. The cosy ambience of the franchisee stores and owns stores of Donald B are the physical evidence. Physical evidence helps to manipulate the perception of the customers (Gallo, Antolin & Monitel, 2018). Conclusion It has been noticed that the organisations get help from marketing plan which exactly assists the organisation to coordinate the marketing efforts and ideas of the market. Donald B will target the young generation and upper-class people who can afford to visit the chocolate stores. The USP of Donald B chocolate stores will be premium quality and prices will be kept as competitive. Selective distribution strategy will ensure that supermarket and chocolate stores will have enough stores. Social media marketing, online marketing and print marketing will be promotional strategies of Donald B. This marketing plan will help Donald B to achieve the marketing objectives.
12MKT600 MARKETING Reference List Alt, J., & Iversen, T. (2017). Inequality, labour market segmentation, and preferences for redistribution.American Journal, 1(1), 21-36. Datta, H., Ailawadi, K. L., & Van Heerde, H. J. (2017). How well does consumer-based brand equity align with sales-based brand equity and marketing-mix response?.Journal of Marketing,81(3), 1-20. Davies,T.,&Kitchen,B.(2015).Confectionery:Growingandprocessingcocoain Australia.Food Australia,67(5), 28. Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business intelligence through the lens of the marketing mix.Big Data Research,2(1), 28-32. Gallo, P. J., Antolin-Lopez, R., & Montiel, I. (2018). Associative Sustainable Business Models: Cases in the bean-to-bar chocolate industry.Journal of Cleaner Production,174, 905- 916. Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to the market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113- 132). Springer, New York, NY. Lee, N.R. & Kotler, P., (2015).Social marketing: Changing behaviors for good. London: Sage Publications. Li, F., & Mo, D. (2016). The burgeoning chocolate market in Australia.The Economics of chocolate, 383.
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13MKT600 MARKETING McAlexander, J. H., Koenig, H. F., & DuFault, B. (2016). Millennials and boomers: Increasing alumni affinity and intent to give my target market segmentation.International Journal of Nonprofit and Voluntary Sector Marketing,21(2), 82-95. Nagle, T. T., & Müller, G. (2017).The strategy and tactics of pricing: A guide to growing more profitably. Abingdon: Routledge. Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014).Value proposition design: How to create products and services customers want. New Jersey: John Wiley & Sons. Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014).Consumer Behaviour: Buying, having and being(Vol. 10). London: Pearson. Spiteri, S. A., Olstad, D. L., & Woods, J. L. (2018). Nutritional quality of new food products released into the Australian retail food market in 2015–is the food industry part of the solution?.BMC public health,18(1), 222. Stark, J., (2015). Product lifecycle management. InProduct Lifecycle Management (Volume 1). Springer, Cham. Toptal,A., & Çetinkaya,S. (2015). Theimpactof priceskimmingon supply and exit decisions.Applied Stochastic Models in Business and Industry,31(4), 551-574. Tuten, T. L., & Solomon, M. R. (2017).Social media marketing. London: Sage. Viloria, A., Wilches, M., & Acuna, N. (2016). Turnover increased Massive Consumer Products through the Implementation of Design Standards based on the Buyer.Indian Journal of Science and Technology,9(46), 23-45.
14MKT600 MARKETING Walker, R. H., Hanson, D. J., & Enjeti, M. (2015). Destination Branding and Positioning-The Tasmania Experience, Its Unique Characteristics and Implications. InProceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference(pp. 23-33). Springer, Cham. Wei, Y. S., Samiee, S., & Lee, R. P. (2014). The influence of organic organizational cultures, marketresponsiveness,and productstrategyon firmperformanceinanemerging market.Journal of the Academy of Marketing Science,42(1), 49-70.