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Report on Marketing Concepts and Digital Communication

   

Added on  2020-04-01

14 Pages3045 Words139 Views
Running head: MARKETING CONCEPTS1Marketing Concepts and Digital CommunicationStudent’s NameInstitution’s NameDate

MARKETING CONCEPTS2Table of ContentsTitle page............................................................................................1Introduction..........................................................................................3Executive summaru.................................................................................3Steps in writing a marketing plan................................................................3SWOT and competitor analysis..................................................................5Mission..............................................................................................5Marketing and financial objectives .............................................................6Marketing mix strategy and digital marketing communication plan........................7Programs designed to achieve marketing and financial objectives..........................8Implementation and control of the marketing plan..........................................10Conclusion........................................................................................11List of references.................................................................................12

MARKETING CONCEPTS3INTRODUCTION This report focuses on the application of relevant marketing concepts by special F1collection- product advertised in a luxatic blog by Ray-Ban and Scuderia team. It is a racetrackproduct meant to give an experience of an F1 excitement will lower chances of injury. The mainfocus of this report is stipulated on a number of activities including; steps in writing a marketingplan, SWOT and competitor analysis, mission, financial and marketing objectives of the productlaunched, formulation of a marketing strategy with an emphasis on digital marketing andcommunication plan, current action plans designed to achieve the set objectives, and lastly

MARKETING CONCEPTS4implementation and control of the marketing plan. Application of these concepts is meant topositively favor marketing strategy and digital communication which widens the market fieldthereby creating a reliable and steady market for F1 collection-product. Executive Summary F1 collection is a product unveiled by Ray-Ban and Scuderia Ferrari team. It is aimedat giving a good rush as same as that of a racetrack. It is designed with a high art of technology.The team is meant to apply the marketing concepts such as marketing business plan andpromotion services to be highly competitive and fit in the marketing field. Its model is alsomeant to reach a target of funs such as Italian Formula 1 team. To achieve this, following themarketing concepts and proposed ideas is very significant to the achievement of the set goals.Steps in writing a marketing plan. A marketing plan is a document that outlines a business effort in marketing andadvertising for a given year. It describes business engagements and activities involved in theachievement of the set objectives, within a set limit of time. The following are steps that guide amarketing plan (Disanza, 2016). Situation analysis: This refers to the outlook of a current state of a company. Itincludes an overview of strength, opportunity, and weakness of an organization. In the case of F1collection-product, this analysis can be applied to assess the strongholds of the Ray-Ban andScuderia team, identify a new opportunity to market the product and to analyze the challengesencountered (Westwood, 2010).

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