Develop a Marketing Plan

This document provides a comprehensive guide on how to develop a marketing plan. It covers topics such as conducting a marketing audit, developing feasible strategies, planning achievable marketing tactics, and measuring marketing effectiveness. Suitable for marketing students and professionals.

Running head: DEVELOP A MARKETING PLAN
Develop a Marketing Plan
Name of Student
Name of University
Author Note

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DEVELOP A MARKETING PLAN
Table of Contents
Part A..........................................................................................................................................2
Assessment 1..............................................................................................................................2
1.1 Conducting a marketing audit..........................................................................................2
Part-A: SWOT analysis.........................................................................................................2
Part-B: PEST analysis...........................................................................................................3
Part-C: GAP analysis............................................................................................................5
Part-D: BCG Growth Share Matrix......................................................................................6
Part-E: Five forces analysis..................................................................................................7
Part-F: Evaluation of marketing opportunity options........................................................7
1.2 Developing feasible strategies..........................................................................................8
1.3 Planning achievable marketing tactics.............................................................................9
Part A..................................................................................................................................9
Part B.................................................................................................................................10
Part C.................................................................................................................................11
Part D................................................................................................................................12
1.5 measuring marketing effectiveness...............................................................................12
Part B........................................................................................................................................13
Bibliography.............................................................................................................................14

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DEVELOP A MARKETING PLAN
Part A
Assessment 1
1.1 Conducting a marketing audit
Part-A: SWOT analysis
Internal Strength
The advantage of FitLife is
that it is has 182,000
members
It provides unique
equipments for gym
Unique resources such as
automated treadmill can be
gained by the company
Factors such as good
employee strength provides
selling opportunities
The USP of FitLife is the
existence of 70 health clubs
Weakness
Improvement on the
equipments can be made
Avoiding use of old
technology need to be
maintained
The prices of the equipments
can be a weakness
Factors such as lack of
promotion loose the sale
External Opportunity
Opportunities for expansion
in international borders
exists
Interesting trends like
robotic simulation of
exercises can be applied
Threat
Obstacles are faced from
new entrants
Competitors are using
technologically advanced
equipments
Quality of the services are
changing
Change of technology can be
a position threatening factor
Cash flow is less due to lack

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DEVELOP A MARKETING PLAN
of updated products
Lack of updated products can
threaten the business
Table 1: SWOT analysis
(Source: Created by author)
Part-B: PEST analysis
Elements Factors
Political The next local election in the Australia is in
2019. This may not have any impact on the
business
None of the pending taxation changes can
hamper the company
Business regulation will not have any impact
to the regulation or deregulation of business
The Government approach and other
political entities can have a positive impact
on the business
The time scale for changes in legislation can
be in 4 years of time
Political factors related to trading may
change in four years with the advent of a
new President
Economic The current economy of the Australia can be
considered as unpredictable as drop in
process may have a negative impact on the
development of the country or the company
The rates tend to vary depending upon the
fluctuation in the economic condition of the
country
The disposal income is at a constant rise due
to the growth of income. This is unlikely to

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DEVELOP A MARKETING PLAN
change in the next years.
The unemployment rate is significantly
moderate in Australia. Therefore, the rate of
hiring of workforce can be cheap
The fluctuating growth of the economy
needs to be considered along with the
depletion of the income level of the
customers
Socio-cultural The population growth rate in the Australia
is high with an average age of 37 years
The general shift in attitude may not have
any impact on the setting up of the company
in the country
The health and mobility of the society can be
associated with the fact that people are
willing to remain fit and healthy. The impact
of this is that FitLife can help in the
development of the society in a proper
manner
Employment patterns, job market trends as
well as attitude of the people tend to be on
receiving high profile jobs with proper pay
Australian people are secular and so
religious beliefs and lifestyle does not have
any negative impact
Socio-cultural factors such as age of the
people can have a change in the business
Technological Technologies like digitally enhanced bicycle
simulation can be used
New technologies such as robotic workout
exercises can be used in the future
None of the competitors have access to the

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DEVELOP A MARKETING PLAN
new technologies
Recent and modern technological hubs such
as CSIRO can work with the company
Technological factors such as quick
calculation of finances can be used for
enhancing the technological competence in
the company
Table 2: PEST analysis
(Source: Created by author)
Part-C: GAP analysis
Marketing objectives Gap Actions bridging the gap
Product The products are old and
lack development
Advance the products using
recent technology
Price Prices are less due to lack of
developed products
Align the price with the new
products for attracting
customers
Promotion Lack of proper information in
the use of official website for
promotion
Use newspapers and social
media to promote the
company
Placement Strategically placed in the
city centre
Need to have more branches
within the society so that
customers can gain the
benefit of the company
Table 3: GAP analysis
(Source: Created by author)
Part-D: BCG Growth Share Matrix
After the analysis of the BCG Growth matrix and the strategy of the company, it can
be said that the services in which FitLife need to invest is the development of facilities all
across the city.

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DEVELOP A MARKETING PLAN
The investment can help FitLife to gain recognition throughout the city by reaching
out to more customers.
FitlIfe need to drop the services like hiring old people as fitness trainers and instead
can hire reputed fitness people or existing people with skills and capabilities of acting as a
guide.
The marketing objective of FitLife can be benefitted from the dropouts as it can help
in the development of more talents within the organisation and consequently ensure that
young people get proper training from the employees.
Based on specific marketing objectives FitLife can gain national or international
expansion. This is because the company can attract more people to act as main contributors
for the promotion of the fitness centre.
The analysis proves that FitLife sits on the Star strategy that signifies the investment
for growth of the company.
Based on the value offering, market growth and market share can be attributed to
the development of modern technology within the company and the ability to attract the
interest of the customers.
The value offering is the manner in which strategies adopted by a company can add
cost for the development of a company (Babin and Zikmund 2015). For FitLife the value
offering is the star which can be considered as an investment for expansion. The cash
generation can be in the form of profits that are gained after the value has been generated
so that FitLife can continue with the growth of the company. The cash use signifies the
manner in which FitLife can implement the finances. FitLife can ensure that the finances
earned be used for the development of new training materials.
Part-E: Five forces analysis
Threat of New Entry
 Baymed Fitness
Centre
 Star Track
 The Jason Group
Supplier power
 Differentiation of
inputs
 Distribution channels
Buyer power
 Firm
concentration
 Information about
Competitive rivalry
 Crew
 Xtend Barre
 Flow Athletic

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DEVELOP A MARKETING PLAN
Figure: Five force analysis
(Source: Created by author)
Part-F: Evaluation of marketing opportunity options
Marketing Opportunity
Option
Feasible
Yes/No?
Rationale
Strategic alliances and
cooperative business models
Yes The strategic alliances and cooperative
business models can help FitLife to
continue with the development of its
strategies based on expansion and
acquisition
New products or services to
target specific markets
Yes It can help in drawing the customers to
seek registration at the fitness centre
Greater market penetration
with existing products or
services
No The existing products of FitLIfe is not
developed and due to this it can have a
hindrance in gaining the interest of the
target market
Take-overs No Take-overs cannot be feasible mainly
because the fitness centres can seek
investment. Take-overs can have a
negative impact as the managing
Threat of substitution
 Centennial Health
Club
 Speedo Fitness
centre
 98 Gym

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DEVELOP A MARKETING PLAN
strategies of the companies may not be
the same
New businesses and
franchising
Yes Franchising in areas of interest can have
a strong impact in the development and
the expansion of the company
Past purchase No The past purchases made by the
company cannot have any significant
impact on the present or future of the
company
Satisfaction level Yes Satisfaction level of the customers need
to be taken into account so that the
service can be enhanced
Creating marketing groups Yes Marketing groups can help in the
analysis of the target markets
Table 4: Marketing opportunity
(Source: Created by author)
1.2 Developing feasible strategies
Marketing mix Strategy Rationale Alignment
Product Target market
Differentiation
It can help in gaining
the interest of the
target markets
Can be aligned with
the aim of expansion
Price Market penetration
Bundle pricing
It can help in gaining
the interest of the
customers and
expansion
Alignment can be
made with the
products of the
company
Promotion Advertising
Direct promotion
Can help in
identifying the target
market
Can be aligned with
the development of
new products and
services
Place Market coverage
Direct selling
It is effective in
reaching the target
Can be aligned with
direct promotion

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DEVELOP A MARKETING PLAN
customers directly
Table 5: Feasible strategies
(Source: Created by author)
1.3 Planning achievable marketing tactics
Part A
Product
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
New products Manager 2000 2 Yes
Developed
products
Manager 1000 3 Yes
Important
products
Manager 1500 1 Yes
Price
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Price skimming Accounts
manager
500 4 Yes
Price bundling Accounts
manager
1000 3 Yes
Penetrating
pricing
Accounts
manager
1500 2 Yes
Promotion
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Social media Marketing
manager
2000 2 Yes
Newspapers Marketing
manager
1000 2 Yes
Television Marketing 1000 3 Yes

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DEVELOP A MARKETING PLAN
manager
Placement
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Direct marketing HR manager 500 2 Yes
Suitable location HR manager 750 4 Yes
Market coverage HR manager 1000 3 Yes
Grand Total
Total cost: AUD$13,750 Total Timeline: 31 weeks
Table 6: Performance criteria
(Source: Created by author)
Part B
Currently based on the analysis of the Product Lifecycle model (PDLC), it can be seen
that FitLIfe is at the declining stage. This is mainly due to the rise of competitors in the
industry with which FitLife has failed to cope up with. At the introductory stage, FitlIfe
needed the support of the investors so that it can continue to develop its tactics in the
business. The growth stage witnessed the company to gain popularity and as a result of it,
the company managed to create 70 health clubs. It also accounted for 182,000 members in
the company that highlighted the maturity stage. At this stage, FitLife was one of the most
important fitness companies in Australia. However, with the rise of competitors like 98 gym,
Crew, Star Track and others, FitLife failed to continue its domination as an effective
company in the fitness industry.
Part C
Introduction
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Identify target
market
Marketing
manager
1000 4 Yes
Develop
equipments
Marketing
manager
1500 4 Yes

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DEVELOP A MARKETING PLAN
Growth
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Approach target
markets
Marketing
manager
200 3 Yes
Expand the
company
HR manager 2000 4 Yes
Maturity
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Recruit talented
staffs
HR manager 4000 4 Yes
Gain
opportunities for
expansion
HR manager 2000 3 Yes
Decline
Tactics Owner Cost (in AUD$) Schedule (in
weeks)
Accountability
Analyse financial
condition
Finance
manager
2500 4 Yes
Promote new
products
Marketing
manager
3000 3 Yes
Grand Total
Total cost: AUD$16,200 Total Timeline: 29 weeks
Table 7: Performance criteria
(Source: Created by author)
Part D
The implementation of the marketing tactics that FitLife adopts need to abide by the
Australian Consumer Law. The law is a part of the Competition and Consumer Act 2010.

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DEVELOP A MARKETING PLAN
At the same time, the company cannot indulge in any form of discrimination on the
customers or the employees as per the Racial Discrimination Act 1975 (Fitlifept.com.au
2019).
The privacy of the customers is kept intact and any information related to the
personal information shared by the customers is kept intact as per the Privacy Act 1988.
Ethical principles such as anti discrimination is practised along with the non-violation
of privacy and unethical use of promotional pictures are undertaken in order to maintain
the satisfaction of the customers.
Laws related to the Work Health Safety Act 2011 are maintained to ensure proper
health of the customers as well as the employees.
1.5 measuring marketing effectiveness
Marketing metric Example of implementation
SWOT analysis The implementation is done in order to analyse the internal
capabilities of FitLife and its external influences in the market
PEST analysis Can be implemented in order to understand the external
business environment so that strategies can be formed
GAP analysis Can be implemented in analysing the gap that exists between
the current marketing mix practise with that of the required
practise
BCG analysis The implementation is done in order to identify the effective
value that FitLife can provide to the business market
Five force analysis The implementation of this strategy is done in order to analyse
the potential threats and the competitors that exist in the
business. Analysis of the buyers and sellers are also conducted
in the process
Product life cycle analysis Can be implemented to understand the stage at which FitLife
exists and the manner in which it can hope to improve
Table 7: Performance criteria
(Source: Created by author)

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DEVELOP A MARKETING PLAN
Part B
Communication with the stakeholders can be done either by learning the language
spoken or by taking help from interpreters. Communication can be used to develop and
maintain effective relationship, mutual trust and confidence by virtue of the behaviour.
Manner of hand shake, attire, eye contact can help in communicating with people from a
diverse culture. As a leader team members can be motivated by providing them with the
opportunity to express their views. This can help in the development of the trust among the
leaders and ensure that every team member understand the role that is expected from
them.

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DEVELOP A MARKETING PLAN
Bibliography
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Fitlifept.com.au 2019. Home – FitLife. [online] Available at: http://www.fitlifept.com.au/
[Accessed 13 Feb. 2019].