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Market planning for Bio-magnetic watch

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Added on  2020-03-23

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The major advantage of creating a marketing plan for a business is that it makes clear to business in order to identify the customers and clients, the plan helps business facilitate marketing communications that will produce outcomes and it provides guidance and concentration which help the companies to cater the customer requirements and achieve the business objective effectively. Executive summary 2 Introduction 4 Steps of marketing plan 4 Situational analysis 4 Micro-environment 5 Intermediaries 5 Customers 5 Competitors 5 Macro-environment 5 Demographic 5 Technological 5 Opportunities and issue statement

Market planning for Bio-magnetic watch

   Added on 2020-03-23

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RUNNING HEAD: Market plan for Bio-magnetic watch1Marketing Plan-Biomagnetic watch
Market planning for Bio-magnetic watch_1
Market plan for Bio-magnetic watch2Executive summaryMarket planning may be defined as a process of examining one or more potential marketplaces in order to identify how business can extremely compete in them. The market planning procedure results in the marketing techniques which can be used to increase sales for the business generating it. The main purpose of marketing planning is to set the company on a particular course in marketing. A marketing plan enables a business to implement an integrated strategy with regard to the customer and the sales objective. The major advantage of creating a marketing plan for a business is that it makes clear to business in order to identify the customers and clients, the plan helps business facilitate marketing communications that will produce outcomes and it provides guidance and concentration which help the companies to cater the customer requirements and achieve the business objective effectively.
Market planning for Bio-magnetic watch_2
Market plan for Bio-magnetic watch3Table of ContentsExecutive summary.........................................................................................................................2Introduction......................................................................................................................................4Steps of marketing plan...................................................................................................................4Situational analysis..........................................................................................................................4Micro-environment......................................................................................................................5Intermediaries...........................................................................................................................5Customers.................................................................................................................................5Competitors..............................................................................................................................5Macro-environment......................................................................................................................5Demographic............................................................................................................................5Technological...........................................................................................................................5Opportunities and issue statement...................................................................................................6Major issues.................................................................................................................................6Determine market segments.....................................................................................................6Differentiate a product..............................................................................................................7Marketing objectives.......................................................................................................................7Short-term objective.....................................................................................................................7Long-term objective.....................................................................................................................7Marketing strategies.........................................................................................................................7Target segmentation.....................................................................................................................7Positioning strategies...................................................................................................................7Branding strategies.......................................................................................................................8Marketing mix strategies..............................................................................................................8Action programs..............................................................................................................................8Budget analysis................................................................................................................................9Monitoring and control....................................................................................................................9Conclusion.......................................................................................................................................9References........................................................................................................................................9
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Market plan for Bio-magnetic watch4IntroductionThis report creates the market planning for launching a new product that is Bio-magnetic wrist watch in the Australian market that incorporates latest electronics technologies for the fingers touch and activities. The report analyzes the external and internal environment of the business is launching a new product in the market of Australia such as market, industry, competitors, consumers, company. The report also determines the main threats, opportunities, strength and weakness and the main problems that will be directed accessed in the plan, creating suitable strategies in order to implement a marketing strategy plan, determining the appropriate control techniques for marketing strategy plan and suitable measures to evaluate a marketing strategy plan. Steps of marketing planAccording to Ernst et al. (2010), the marketing planning for launching Bio-magnetic watch in themarket consist several steps which are explained below:Situational analysisSituational analysis is a collection of techniques that supervisor use in order to examine an organization’s external and internal environment to comprehend the business potential, consumers and business environment (Hollensen, 2015).Micro-environmentMicro factors are those factors which directly impact the organization. The main micro-factors which affect the company are as follows:IntermediariesThe company can use various intermediaries which are the middlemen that are retailers, agents, distributing market service business for the watch.CustomersThe customers buy the product only when it fulfills their objective. Biomagnetic wrist watch helps the people in maintaining energy level rises and balanced. This watch offers a whole
Market planning for Bio-magnetic watch_4

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