Marketing Plan for NOBLE Cholesterol Control Drink

The assignment requires a comprehensive marketing plan for NOBLE Cholesterol Control Drink, including market analysis, target market identification, segmentation, positioning, and product differentiation. It also involves calculating the Break-Even Point (BEP) and preparing a marketing budget. Additionally, the student is expected to analyze the actual performance of the marketing plan and provide recommendations for improvement.

Marketing

EXECUTIVE SUMMARY
Marketing can be carried out as a process because in which concluded different activities
and operations. At this time there are available different marketing tools and techniques such as
online marketing, advertisement on TV, mobile phones, posters and so more. This report will
discussing about actual market condition and position of Marks and Spencer thus it wants to be
launch a new product is NOBLE. Therefore, will be make appropriate budget for the marketing
and calculate BEP of the company.

Table of Contents
INTRODUCTION...........................................................................................................................1
1: MARKET ANALYSIS ...............................................................................................................1
2 : MARKETING STRATEGY.......................................................................................................3
3 : TARGET MARKET SELECTION ...........................................................................................3
4: PRODUCT OR SERVICE POSITIONING................................................................................4
5 : MARKET MIX DECISION.......................................................................................................4
6 : FINANCIAL PROJECTION......................................................................................................5
7 : MARKETING PLAN ASSESSMENT......................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
In modern era, employers are focus on to adopt smart and advance marketing tools and
techniques within the organisation because with the help of them company can easy to promote
their services at world wide level. Therefore, this report based on Marks and Spencer which is
leading retail store of UK. In the context of this, here will be launch a new NOBLE drink within
the market it is a cholesterol lowering juice which helps to control cholesterol. With the help of
this drink, company can easy to resolve cholesterol problems of the clients. (Wilson and et. al.,
2012) Additionally, will be evaluating the market condition then will be develop appropriate
marketing strategies and select appropriate target market. In order to this, marketing mix
decisions also will significantly explain in the context of new product of Marks and Spencer. At
the last, effective financial projection will developed there will included current break even point
and also next 2 to 3 years which company wants to be earn in the future. In this addition, will
effectively analyse the market assessment plan through the suitable methods and techniques.
1: MARKET ANALYSIS
Market analysis can be carried out as a process because with the help of this study can
easy to identify the actual market conditions and trends. Generally, it is the part of industry and
global environmental analysis.(Jobber and Ellis-Chadwick, 2012) Along with this, there are
included four major elements which are effectively define under below such as:
 Company analysis: Basically, Marks and Spencer is a growing retail company of UK it
dealing with cloths, home products, luxury food items, accessories, cosmetics and so
more. At this time M&S has approximately 979 stores across all over the UK additionally
included 615 branches that sells food products to clients. Currently revenue of this firm is
£ 10,624 million.
 Customer evaluation: Marks and Spencer focus on to attract large number of customers
towards company so that respectively increase their profit and sales of their products and
goods. Apart from this, at this time most of persons wants something attractive better and
high quality of products for getting fully satisfaction. Due to this, employers of M&S
adopt smart and innovative techniques at work place. Marks and Spencer company has
large number if customers who affected by Cholesterol problem.
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 Conditions analysis: As per the financial report and announcement M&S has only 8.5%
sales in the last year that systematically and continuous increase 23.4%. Hence, according
to the financial report regularly increase profit and sales of the selected organisation.
 Competitors analysis: At this time, M&S is a leading retail firm of UK due to this
continuously increase competition in the external market place thus it have several
competitors such as ALDI, ASDA, TESCO, CENTRA and so more. (Hair and et. al.,
2012)
Illustration 1: SWOT analysis
(Source- Haughey, 2017)
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2 : MARKETING STRATEGY
It is an important concept which is used for launching new NOBLE drink product within
the market place, thus have to choose appropriate pricing strategies, promotional tools and
techniques etc. In this addition, marketing manager can effectively manage all over marketing
activities and achieve their decided goals and objectives in an impelling mode.(Haughey, 2017)
Meanwhile, market strategies means how Marks and Spencer going to be launch their new
product is NOBLE which is helps to reduce cholesterol of customers. Thus, there was using high
quality of raw materials, Beta glucan soluble fibres “ Biovelop B” for producing NOBLE drink,.
However, it can be consider a procedure because in which systematically analyse and set
effective cost of product as per their demand and quantity. Additionally, choose online suitable
promotional method for promoting product at world wide level. (Kozinets and et. al., 2010)
3 : TARGET MARKET SELECTION
In the context of target market selection of M&S, it helps to define where it wants to be
expand their business firm in several areas. Meanwhile, it is necessary to target an effective
market by the marketing manager of the firm because due to this respectively increase profit and
sales of enterprise. At this, Marks and Spencer target persons as per the demographic base who
belongs to 30-45 age because these type of persons are largely affected by cholesterol problem.
One of the major aim behind selecting this target market is to reduce cholesterol issues from the
country. Due to this, employers of the Marks and Spencer can easy to compete with their major
competitors of the retail market of UK as well as get attention from large number of clients.
(Kotler, 2011)
Generally, market segmentation categorised into three main section which all are
systematically elaborated under below :
 Demographic: In the context of demographic segmentation in which market divided as
per the age, gender, income level, education, race, religion and so more. Marks and
Spencer set their target market as per the demographic segmentation style due to this they
target people who has 30-45 age because these persons are highly influenced by
cholesterol hence employers of the firm seeks to be increase their sales as well as reduce
cholesterol problems from the nation.
 Geographic: In this segment, market categorised into different areas according to the are
code, city, state, region and country. (Hoffman and Fodor, 2010)
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 Psycho-graphic: At the last, in which divided targets as per the status of the family and
their occupation.
4: PRODUCT OR SERVICE POSITIONING
Product positioning helps to define actual benefits or profits of selected NOBLE drink
product within the chosen target audience within the external market place. With the help of this
concept, can easy to identify and evaluate the actual market condition of the an particular item is
that favourable or not. Therefore, in the context of M&S while it wants to be launch a new
product is that cholesterol lowering NOBLE drink and decided their target market then it is
essentials to set appropriate and reasonable cost of an particular item and should be maintain
their quality. Additionally, marketing and production manager have to be include some effective
and unique features within the particular product such as packaging, attractive colours, style,
quality, price, size, weight and so more. Due to this, customers can easy to differentiate among
M&S of NOBLE product with other company's goods. Along with this, it aids to increase profit
and sales of the organisation therefore marketing manager have to be focus on to adopt smart
marketing techniques and methods at the work place so that they can set a brand image in the
competitive market place. (De Vries, Gensler and Leeflang, 2012)
5 : MARKET MIX DECISION
Marketing mix is an important concept of the marketing because with the help of this
manager of the marketing department can easy to examine their products and quality through
using appropriate methods and techniques. Basically, in which included four major aspects such
as product, price, place and promotion. With the help of appropriate marketing strategies
enterprise can get success in the competitive market place as well as reach their decided goals
and objectives. Therefore, there are systematically demonstrating marketing mix of the NOBLE
product which launch by M&S which is representing under below:
Product Price
Generally, Marks and Spencer is an top retail
store of UK at the world wide level. Therefore,
M&S seeks to launch cholesterol control
NOBLE drink within the market place so that
with the help of this customers can reduce and
Employers of Marks and Spencer follows
medium pricing strategy for deciding the price
of NOBLE drink. The profit margin is
designed by company is 23.5%.
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control their cholesterol level. Price – cost price = profit
Price = profit+ cost price
Price = 23.5% of cost price + cost price
price = 4992.34 + 21244
Price = 26236.34 or 26236.34/ 10622 = 2.47
pounds/ unit. It will be price of the NOBLE
product.
Place Promotion
Marks and Spencer is a international brand of
UK due to this it got more than 1000 stores at
the global level and its operating their business
more than 50 countries across all over the
world. Apart from this, It using their outlets,
Major retail stores of UK and Online services
for providing NOBLE drink to clients as per
their order.
Employers of the Marks and Spencer very
carefully and effectively adopting marketing
strategies so that they will significantly
advertise and promote their products. Along
with this, it adopting and using unique selling
proposition with the help of this customers can
easy to differentiate NOBLE to other its
competitors. In this addition, employers of the
firm us fitness models in the advertisement,
Guerrilla marketing, Graffiti and attractive
flyers.
6 : FINANCIAL PROJECTION
Financial report of the Marks and Spencer define its actual financial condition and
position in the competitive market place. At this time Marks and Spencer is an leading British
retail store of UK due to this current share price of M&S is 311.9 Gbp. Due to this, there are
representing some financial information and investment about decided NOBLE drink of Marks
and Spencer which is aids to control cholesterol so that with the help of this employers of the
firm will significantly take better and appropriate decisions. (Berthon and et. al., 2012)
Basis 2017 2018 2019 2020
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Sales 10622 10804 11013 11184
Sales Volume
(Per unit)
2656 2106 3671 2794
Selling price
(Per unit)
4 5 3 4
Variable cost
(Per unit)
2 2 2 2
Fixed Cost
(Pounds)
4000 4000 4000 4000
Sales Revenue 10624 10530 11013 11176
BEP (Break
Even Point)
2000 1333.33 4000 2000
Budget
Contents 2017 (Pounds) 2018 (Pounds) 2019 (Pounds)
Personal 60 70 90
Market research 50 60 65
Marketing
communication
120 150 180
Channels 30 40 55
Customer acquisition
and retention
60 70 110
Promotional
activities:
Road show 8 9 11
Advertising 7 9 9
Total marketing 335 408 520
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Budget
7 : MARKETING PLAN ASSESSMENT
This is an mandatory part of the marketing plan because without appropriate assessment
of the implemented plan employers of the firm will significantly take effective and better
decisions as well as take suitable decisions regarding any critical situations. Therefore, it is
necessary to be make an effective extra marketing plan for controlling and managing activities in
an systematic style. Apart from this, marketing manager should have some capabilities and skills
so that they can easy to handle and control any kind of critical situation of the firm. Along with
this, after implementing the marketing plan in action have to be systematically analyse and
evaluate its actual performance and position through the using smart methods and techniques. So
that employers will find out appropriate solutions for resolving them. Marketing manager of the
company have to be make a basic alternative plan for the control marketing activities and
conditions. Therefore, with the help of some effective concepts marketing manager can easy to
examine actual performance and outcomes of the plan. (Grönroos, 2011)
 Anticipated Results : After implementing the launching the NOBLE drink in the market
then ROI will either increase or decrease. Thus, as per the ROI level of the drink product
can easy to examine the actual working performance and results of the implemented
NOBLE.
 Control: Within the market place may be occur several activities which have to be
control and managed by the marketing manager of company. Basically, Critical Path
Model will be used to completing the activities within the decided time period.
 Competitor response: Competitors outcomes plays vital role for every company it will
be take for the analyse and identify the marketing strategy of M&S which respond to
competitive target of the market. Marketing strategies will significantly address political
and economical changes in the plan. (Michaelidou, Siamagka and Christodoulides, 2011)
CONCLUSION
From the above mentioned report it has been concluded that marketing is a concept which
is used by most of the companies for promoting their products and goods across all over the
world. Therefore, there has been launch a new cholesterol control NOBLE drink by M&S as well
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as systematically analyse the actual market situations and conditions. Additionally, appropriate
and effective marketing strategies also has been chosen and focus on an particular target market.
Therefore, has been elaborated marketing mix of NOBLE and demonstrated financial position of
the selected new product due to this here has been systematically calculate BEP and prepare a
marketing budget. At the last, effectively analyse and evaluate the actual performance of
marketing plan.
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