Introducing the Marketing Plan | Assignment

Added on - 12 Nov 2020

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MARKETINGPLAN
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 3............................................................................................................................................3P1 Background of business.........................................................................................................3P2 Overview of macro environment and potential strength and weakness of business..............3P3 Marketing objective of business............................................................................................5P4 Marketing segmentation, targeting and positioning...............................................................5P5 Marketing Strategies..............................................................................................................6P6 Marketing-mix.......................................................................................................................9P7 Marketing budget for new product/service..........................................................................10CONCLUSION..............................................................................................................................10REFRENCES.................................................................................................................................11.......................................................................................................................................................11
INTRODUCTIONMarketing is a huge concept associated with activities of buying and selling of productsand services in a business, which further include advertising, selling and delivering of productsto end users. In this report, efficiency and significance of marketing plan at Softtech companywill be evaluated which will help in pulling together all it campaigns that may arise over aspecific time with additional information and instructions to measure or monitor them. Softtechcompany delivers order based and personalised software engineering, digital design solutionsand consultancy services to various leading brands of UK. The project also focuses on company'sinternal and external opportunities and threat that will assist in market planning to launch its newproduct and services successfully.TASK 3P1 Background of businessA marketing plan is an operational document of Softtech Company that outreach andadvertise to generate leads and reach its target market. Marketing plan provides them marketingresearch to support pricing decisions and new market entries as well as tailor and communicatemessage to various demographics and geographic areas. However it will also help in setting orselecting platforms for promoting product and services in addition to which marketing plan helpsin setting success metric of Softtech Company. The software developing company work withmany customers such as largely established product merchant to start-up internet ventures. Thecompany will be working with one hundred and thirty employees. Softtech's aim is to create bestpossible environment to produce outstanding quality software and deliver high customersatisfaction. Goal of the company is to hire brightest people, and provide them great autonomy,remunerate them as well as give then number of opportunities to serve back to their local or othercommunities.P2 Overview of macro environment and potential strength and weakness of businessBusiness environment refers to all internal and external factors that affect functions ofSofttech company including employees, customers, management, supply or demand and businessregulations.
SWOT analyses of Softtech: The Internal environment includes strengths andweaknesses of company whereas its opportunities and threats comes under external assessmentof company.Strengths: Softtech have well qualified and skilled work force that help in deliver satisfactoryservices and software solutions as well as developing market share. The company is high insocial services and employee well-being which strengthen its employee relationship.Weaknesses: Research and development capabilities at Softtech are poor in performance andunable to explore too much new trends and techniques.Opportunities: Softtech technologies can develop their existing market by capturing morecustomers. Although the company can also invest more in its research and developmentdepartment to increase its efficiency.Threats: Softtech technologies have many competitors as well as threat of other substitutesproducts and services.PESTEL analyses of Softtech: The external environment includes all uncontrollablefactors that impacts over operations and functions of business.Political: Due to dynamic political condition at UK, business operations at Softtech get affecteddue to chance in policies and regulations.Economic: These conditions are unstable in UK due to BREXIT effect which further effectscustomer's demand and purchasing behaviour in Softtech company.Social: Due to changing and varied demographics in UK as well as social benefits this factoreffects company's activities in many ways.Technological: Due to high technological advancement in UK, Softtech and its competitors havemany opportunities in market.Environmental: Many environmental laws and regulations exists in UK which must be followedby Softtech company to perform its functions and activities successfully. The laws may carriesenvironmental acts that are concerned with company's production, technologies and otherprocesses.Legal: With high stability in legal condition at UK, there are many rules and policies that has tofollowed by Softtech Company during manufacturing and marketing its software solutions.
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