This document provides a marketing and sales plan for a new weight loss pill in the international market. It includes information on marketing channels, budget, operations, milestones, metrics for success, marketing strategies, competitive advantage, product selling, target market, competition, and SWOT analysis.
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Running Head: INTERNATIONAL MANAGAMENT0 International Management (Student Name)
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INTERNATIONAL MANAGAMENT1 Table of Contents Executive Summary.........................................................................................................................2 Marketing and Sales Plan................................................................................................................2 Marketing Channels.....................................................................................................................2 Budget for Marketing and Sale plan............................................................................................2 Operations........................................................................................................................................4 Milestones........................................................................................................................................4 Metrics for Success..........................................................................................................................5 Marketing Strategies........................................................................................................................5 Competitive Advantage...................................................................................................................6 Product Selling.................................................................................................................................6 Target Market..................................................................................................................................6 Competition.....................................................................................................................................7 SWOT Analysis...............................................................................................................................7 Conclusion.......................................................................................................................................8 References........................................................................................................................................9
INTERNATIONAL MANAGAMENT2 Executive Summary Obesity is serious as well as common diseases over the world. In the recent, there are huge number of cases can be found that are suffering from fatness no staple in city or rustic area, as it is one of the extensive as well as mounting anxiety (Bray, 2017). Therefore, one of the pile is planning to introduce I the market that make lose weight that help in cope up from the challenge of obesity in an effective manner. In the following part there will be detailed analysis of the market in which the pill will successfully introduce and compete in the competitive market in an effective manner. Marketing and Sales Plan Marketing plan play a vital role in introducing new product in the competitive market in an effective manner. Pill will be the main product that will be launch in the international market. The main marketing objective of the company will be To spread awareness about the product at maximum, level To deliver huge number of pills at the international level To enhance the market share in the international market To make the world healthy Marketing Channels Through different channels the company will target their consumers that are explained in below points:
INTERNATIONAL MANAGAMENT3 Ecommerce: the product will be available in famous ecommerce sites such as Amazon, EBay, and other sites that will help the company to cover maximum consumers in limited period of time Fitness Gym: it is one of the effective sources of targeting consumers. Most of the consumers visit Gym to make their body fit. Therefore, the company will supply their product as a sample to the GYM that makes the product recognize among the consumers in an effective manner Social Media: it is one of the effective platforms to target the consumers. The company will advertise their product in social media such as Facebook. YouTube, Instagram. Traditional Marketing: the company will also adopt traditional method such as advertisement in newspaper, TV, distributing flyers and banners (Nijssen, 2017). Budget for Marketing and Sale plan Item Price(excludin g GST) GST Price (including GST) Total Value Social media Marketing50080.00580580 Searchengine optimization 1100100.0012001200
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INTERNATIONAL MANAGAMENT4 E-mail marketing 800100.00900900 Website200010021002100 Retail advertising500100600600 Flyers40060460460 Banners500100600600 TOTAL$5800$640$6440$6440 Operations Managing business play a vital role in the growth and success of any company. The goods and services that will be required for introducing product in the market are: Use of high technology Requirement of Materials as well as equipment Supplies used Expense on testing and evaluation The services of the business will provided with product:
INTERNATIONAL MANAGAMENT5 The store will be open till 7 days a week as all hours. The diet chart will be given by the dietitian and process will be explained by them. He will be available throughout the store answering all questions, the members might helping out people with their workouts as well as proper guidance will be provided to the consumers. Constantly feedback will be given to the members as we;; as support then as they strive to achieve their goals (Chernev, 2015). Milestones ActivityTime PeriodGrowth Objectives New Store Opening with new opportunities 6-7 monthsPlan to open 20 stores in the international market which include US, UK, Asia and where the number of obesity is high Give New face to the brand6-7 monthsCristiano Ronaldo can be the new face for the brand that will hit among the new users Analyse the high percentage of obesity 7-8 monthsTo target market accordingly Hiring more expertise5-6 monthsExpert Hiring for guiding
INTERNATIONAL MANAGAMENT6 consumers Enhanced channel of Distribution 8-9 monthsTo enhance the sale of such innovative product Metrics for Success Feedback form will be provided for the consumers in which they can share their results they feel after using the product Proper monitoring of the revenue will be done that will be generated on the weekly basis to evaluate the actual sale and performance of the company. Discount Coupons will be shown in the advertisement that will help in analyzing the success of the marketing campaign (Nyflot et al., 2015). Marketing Strategies The marketing strategy of supplements is majorly depends on the differentiation of the product with a powerful positioning. The marketing strategies of the new product are explained in below points: Product strategy The healthy Pill will be vended with revealed certificate of the world safety food approval. In order to recognize the brand, the product will be showed with the name of brand and
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INTERNATIONAL MANAGAMENT7 the logo with the introductory marketing campaign. It is daily usage product that can be buying frequently by the consumers (McDonald & Wilson, 2016). Price Strategy Healthy Pill will be launched at $300 wholesale price and $350 retail price per unit. The company is estimated to make a inferior price of the personalize product when the product line will be expanded by launching the Healthy Pill. Therefore, the company will use cost-pricing strategy. Place Strategy Selective placing will be the strategy of the company in which the marketing will be done through popular pharmacy as well as online retailers. In the starting phase, distributor partner will be added until proper coverage of major target will be done. Promotion The business company always uses advertisement to promote their product so do Healthy Pill. The company will create an attractive advertisement of the product as well as will express the features of that pill. The company will use various platforms such as social media, direct marketing, and sales promotion for their product to reach out maximum consumers (Ryan, 2016). Competitive Advantage The main competitive advantage of the product is that such product is very effective that generated the instant action on the body as comparison to the other product of competitive company. It has total assurance of quality as all sic major processes are certified as well as
INTERNATIONAL MANAGAMENT8 recognized. The Healthy Pill consists of forty eight nutrients which is actually required for the body of any individuals. It is provided into the tablet form that can be easily carried by the individuals in more effective manner. Therefore, such features mad the product more competitive in the market as well as will made unique for other products that are already available in the market. Product Selling The company will sell “Healthy Pill” in the market which is in the form of tablet. It is introduced into the nutrition grade plastic ampules before delivery. It contain huge amount of carotenoids such as beta carotene as well as yellow xanthophyll that consist of antioxidant properties. It helps the company to lose the eight that change the body into proper body shape in an more effective manner. Target Market The specific market segment being targeted during the launching phase includes student, businessman, medical users, and professionals. Geographic:the company will target country of high income such as US, UK, Malaysia. Demographics:the product will be available for male, female and adult. Moreover new mother will be the main target for the company due to they gain weight during the pregnancy that can be effective tablet for them to come in the normal structure in limited period of time.
INTERNATIONAL MANAGAMENT9 Competition The product will face huge competition in the market due to wider market coverage by existing companies. The competition in the specialize health care product for the nutrients supplements such as Dongtai City Spirulina Bio Engineering Co. Ltd, Ningbo Green Heath Pharmaceutical Co., Taiwan Chlorella Manufacturing company, King Dnarmsa Spirulina International Inc. re the major factors. The key competitors are: Ningbo Green Heath Pharmaceutical Co who is the leading manufacturing company of food and drugs with CGMP as well as American NSF Certificates. Elken Sdn Bhd is one of the leading companies in Malaysia, Elken has become a sterling example of a home that grown success. Taiwan Chlorella Manufacturing Company is one of the leading and oldest chlorella producers in the global market. They deliver quality product at reasonable prices to their consumers (Balaravi et al., 2017). SWOT Analysis Strengths The product contain huge number of nutrients that help in losing the weight more quickly than other products It has successful experiment The company has strong Research & Development team that keep improve or innovate the product in more effective manner. Weaknesses
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INTERNATIONAL MANAGAMENT10 It is one of the new products and brand in the market therefore; there is lack of brand reorganization in the market and does not have any image. People who are sensitive to iodine o allergic should avoid such Pill. Opportunities Good improve is available at lower cost. The company can used advanced feature at value added price to get reasonable profits There is increase in demand for health care product in the recent. Individuals show concern towards their health Threats There is great pressure of pricing There is great increase in competition in the international market (Phadermrod, Crowder & Wills, 2019) Conclusion From the above analysis it can be concluded that effective marketing planning is one of the key to the success of any business. One of the companies is planning to introduce innovative Pill in the market that is used to lose weight in an effective manner. The company will target the consumers at international level and will concentrate on their operation to mad the product succeed in the market. They will use various channel to market their product that made their product more successful. G=however, they need to adopt strong marketing strategies to compete their competitors or which they need to offer low price product in the market that will help in attracting maximum consumers.
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INTERNATIONAL MANAGAMENT12 References Balaravi, B., Chin, M. Q., Karppaya, H., Chai, W. J., Quah, L. W., & Ramadas, A. (2017). Knowledge and Attitude Related to Nutritional Supplements and Risk of Doping among National Elite Athletes in Malaysia.Malaysian Journal of Nutrition,23(3). Bray, G. A., Kim, K. K., Wilding, J. P. H., & World Obesity Federation. (2017). Obesity: a chronic relapsing progressive disease process. A position statement of the World Obesity Federation.Obesity Reviews,18(7), 715-723. Chernev, A. (2015).The marketing plan handbook. New York: Cerebellum Press. McDonald, M., & Wilson, H. (2016).Marketing Plans: How to prepare them, how to profit from them. London: John Wiley & Sons. Nijssen, E. J. (2017).Entrepreneurial marketing: an effectual approach. London: Routledge. Nyflot, M. J., Zeng, J., Kusano, A. S., Novak, A., Mullen, T. D., Gao, W. & Ford, E. C. (2015). Metrics of success: Measuring impact of a departmental near-miss incident learning system.Practical radiation oncology,5(5), e409-e416. Phadermrod, B., Crowder, R. M., & Wills, G. B. (2019). Importance-performance analysis based SWOT analysis.International Journal of Information Management,44, 194-203. Ryan, D. (2016).Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers.
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