Strategic Marketing Plan for Notpla Company and its Product Ooho
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This report is a comprehensive strategic marketing plan for Notpla Company and its product Ooho. It includes PESTLE analysis, SWOT analysis, and Competitors analysis, customer analysis, problem statement, objectives, marketing mix strategy, campaign evaluation, and budget allocation.
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Marketing management/ MRKT20052
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Marketing management1 Executive summary In the current era, every company makes need to make the strategic marketing plan that is essential for them Notpla company. The purpose of report is to conduct strategic marketing plan for Notpla Company whose product is Ooho, which is available in the market. The planning requires the analysis of the external as well as internal environment, which has done with support of PESTLE analysis, SWOT analysis, and Competitors analysis. The findings show that the business has wide range of opportunities in market. There is lack of threats and competitors for business in \ market. Along with this, the customer analysis has been conducted which shows is based on STP tool. The findings shows that potential customers of company include youth and adults who would like to make the purchase of product for their environment even on the high prices. The problem statement has been identified which is lack of awareness about the product in market, high prices and lack of network for distribution of product. Furthermore, the findings include the objectives and marketing mix strategies related to Notpla Company. Further, the evaluations of the campaign include in report with appropriate allocation of the budget related to the promotional budget.
Marketing management2 Contents Introduction......................................................................................................................................4 Company and its product & services...........................................................................................4 Situation analysis.............................................................................................................................6 PESTLE analysis.........................................................................................................................6 SWOT analysis............................................................................................................................8 Strengths..................................................................................................................................8 Weaknesses..............................................................................................................................9 Opportunities...........................................................................................................................9 Threats.....................................................................................................................................9 Competitor’s analysis....................................................................................................................10 Customer analysis..........................................................................................................................10 Segmentation.............................................................................................................................10 Targeting....................................................................................................................................11 Positioning.................................................................................................................................11 Problem statement.........................................................................................................................11 Objectives......................................................................................................................................12 Marketing mix strategy..................................................................................................................12 Campaign evaluation.....................................................................................................................13 Budget allocation...........................................................................................................................14
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Marketing management4 Introduction The report is prepared with the motive to form the strategic marketing plan in which the business is documenting outlining of marketing strategy as well as the tactics of company within the market. The business that has been selected on which the comprehensive marketing plan is conducted is Notpla who provide the product Ooho. The Australia market has been analysed for Notpla with the help of the different marketing concepts that include the situational analysis which possible with the use of tool like PESTLE analysis, SWOT analysis and competitive analysis. The customer analysis has been conducted which involves the discussion associated to segmentation, targeting and positioning approach for product with the justification. Further, the problem statement for the company is presented for the product that is introduced in Australian market in the year 2019. According to that, the objectives have been set that contribute in dealing with the problem. The marketing mix strategy of business has been conducted which shows how business can generate awareness about products in market. In the end of report, there is campaign allocation and budget allocation for the product. Company and its product & services Rodrigo Garcia Gonzalez and Pierre Paslier cofounded skipping the rocks lab in the year 2013b while their learning of innovation design engineering at the London Imperial College along with Royal College of Art. The company is Notpla who offers Ooho as their product that is edible and biodegradable that is considered substitute to plastic (Notpla, 2019). Ooho is considered as the flexible packaging for the sauces and beverages that is made from Notpla, the material is combining plants and seaweed. It has been found that Ooho get biodegrades in approx. 4-6 weeks or you can just eat it, which makes it an ideal for on go usage. This Ooho can be used by
Marketing management5 the people while doing sports activities (Notpla, 2019). Oohos can easily replace the plastic cups and bottles that are used for running events and different sporting events. Further, this product can be used for Cocktails, water, juice, sauces and other take away (Notpla, 2019).
Marketing management6 Situation analysis The situational analysis is collection of the method that managers make use with the motive to assess the external and internal environment to understand customers, capabilities and many others. The below given is the situational analysis on Notpla for the Australian market has been conducted below – PESTLE analysis Political factors: - The political factors comprise of the fluctuations in policies, structures, and working of business. In Australia, government is taking different initiative with the motive to bring promote the biodegradable products which promote the environment (Baker, 2014). Considering the rise in the production of plastic drastically has made the government to form the plastic recycling area. It has been found that 14% of the plastic is recovered from recycling or the energy recovery. This makes them to take the steps that can reduce plastic and there are many ministers who say to ban plastic (Australian Government, 2019). This makes the government to support the Notpla because they are providing the biodegradable products that contribute effectively as there products are able to replace plastic cups and bottles. Economic factors: -The economic factors includes GDP and purchasing power of clients that can influence the working (Chernev, 2018). In the year 2018, GDP of Australia is recorded as 1432.20 billion US dollars. The value of the GDP reflects that the economy of the country is approx. 2.31%. It has been found that GDP of the country is continuously improving from the year 2016 to 2018 and it is expected to improve the GDP. This shows that there is rise in purchasing power of clients (Trading Economics, 2019). The customers of Notpla can easily make purchase of the Ooho as they have high purchasing power.
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Marketing management7 Social factors: - It includes change in purchasing patterns and behaviour of customer in market. Most of customers in Australia are getting educated with the fact that use of plastic is affecting the environment very badly (David, 2011). Thus, one of reasons due to which customers can easily adopt this Ooho product is their concern towards the environment. However, it has been found that generally prices of this product remain high which affect the customers and they do not purchase products. Along with this, the traditional pattern is followed by company in which they continue to make use of plastic for all the purposes as they remain unaware about this new product. Technological factors: - The up-gradation and development in technology is major reason that affects the working of company. Notpla Company has effectively utilized the technology by using Sachets that remain plastic free to the wasteful saucepots and condiment sachets. The company can encapsulate a wide range of salad dressings and condiments, sauces and many others. These sachets of Notpla are so much effective that it remains convenient way to provide the sauces to take away. It is found that Notpla liner is waterproofing and grease proofing cardboard boxes that are easy for the takeaway system (Notpla, 2019). Further, the product is made from seaweed that is one of the nature’s most renewable resources, brown seaweed. The company also has opportunity in the upcoming market with the launch because they can use the technology (Notpla, 2019). Legal factors: - Business need to abide by rules and regulations related to business. Notpla Company can enter into the market of Australia for which they are required to take the permission from the government who allows them to open their business and to perform the activity of business because it remains beneficial for the business (Dawson, 2014). Notpla company can easily get the license for operating the business operations in Australia.
Marketing management8 Environmental factors: - The businesses that operates in the external environment need to ensure that they meet all the responsibility towards the environment. Notpla Company is considered as one of business who is able to achieve the operation with their new product that leads to biodegradable in the atmosphere (Ho, 2014). This will also contribute successfully in decreasing issue related to plastic that is affecting the environment. SWOT analysis It is an internal and external analysis in which strengths and weakness are considered as internal factors (Frynas & Mellahi, 2015). On the same side, the opportunities and threats of the company are considered as external analysis. Notpla Company SWOT analysis has been conducted: - Strengths Biodegradable product: - Notpla Company major strength is that it offers the Biodegradable in approx. 4-6 weeks that replace the use of plastic in market. This product contributes effectively in improving the environmental condition. Waterproofing and grease proofing: - Notpla Company offers the waterproofing and grease proofing cardboard boxes, which allow the customers to take away the products. The lined cardboard is offered which is coated with the oil or corn both remains non- sustainable. Weaknesses Lack of awareness: - The lack of awareness about the Sachets bags in the market and how they work is one of the weakness which is faced by the company because its affects the sales or revenue of company (Frynas & Mellahi, 2015).
Marketing management9 Lack of attention of customers: - The lack of attention of customers is one of the major weaknesses that are faced by Notpla Business. The product that is offered by company is unique but at same time, there is lack of attention of customers towards the product. Lack of distribution: - Company deals with lack of distribution system as they don’t have any link in market to reach customers. Opportunities Generating awareness: - In the near future, product will be used by most of the customers but for this, company need to create alertness in market about product. Diversification: - Similar like Ooho, the company can use the technology to bring the new and innovative product in the market that meets the growing needs and contribute effectively towards the environment. Thus, this means that the company has the opportunity of diversification in which they diversify their products. Threats High threat of new entrants: -It is one of major threats might be deal by the business under which is possible with due to high-end technology that is available in the market. This technology makes the other companies to enter into the market with new and innovative technology (Hollensen, 2015). Rise in use of plastic: - The rise in the use of plastic will affect sales of company, as people will consume plastic instead of Ooho product that is introduced by company in the market.
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Marketing management10 Competitor’s analysis Notpla Company is one of the new companies who will perform the operations in the market in the year 2019. This is reason due to which the company do not have any other similar company who give the competition to Notpla. The company will find that is lack of competitors in the market because the idea is innovative. However, Notpla Company will have competitors in the near future when the new technology will come with the innovation. Customer analysis The analysis of the customer has been done with the help of segmentation, targeting and positioning for Natpla Company. Segmentation The company majorly segment based on following categories: - Demographic FactorsIt include age, marital status, occupation, gender, ethnicity, and many others (Kotler, 2015). Geographic factorsThe factors include state, region, city, and many others. PsychographicThis includes factors like values, lifestyle, personality and others. Targeting The target market is the group of customer to whom the business will provide the products and services on prior basis. Notpla will apply the multi-segment strategy that makes them to target more than one market (Lovelock & Patterson, 2015). Notpla company majorly target customers with different age group majorly people with the age of 18-25 years include both male and
Marketing management11 female because it include youth who are more concern about environment of the company. Currently, the company is targeting the Australian people with different regions and areas. Youth people have their own values towards the environment that makes them to contribute for the welfare of company. Most of the youth and adults are aware about the use of biodegradable products, which makes them to use Ooho product. Positioning The position of the company shows the company image in the mind of clients. Positioning of business in eyes of customers stands in high edible and biodegradable with high price in market of Australia. The positioning statement of the business is “sustainable packaging start-up” in the market, which proves to be one of the best companies with the sustainable practice by going against the plastic use (Notpla, 2019). Problem statement This section contribute in identifying the problem the Ooho product will face when introduced in the market of Australia in the year 2019 which is based on the customer as well as situation analysis (Wilson & Gilligan,2012). The major problem that has been identified is lack of awareness of business, as Notpla Business is not capable to make effective communication among the customers. Moreover, the product is new which means that it will take the time for the product to get familiar in market. The another issue which has been witnessed is related to the price of Ooho product is relatively high as it involved the new technology and comparing to its substitute that is plastic the price of Ooho is high. In addition, distribution of the product is also an issue that is identified because of lack of link and tie-ups in market.
Marketing management12 Objectives To increase the brand awareness in market by 20% in next 2 years To conduct the marketing campaign to promote the products and services for the betterment of environment in next 1 year (Luca and Suggs, 2010) To form new distribution challenges by contacting different intermediates and distributor in next 1 year. To adopt new technology that can contribute in decreasing the prices with the help of research and development in next 3 years. Marketing mix strategy The marketing mix is one of the tools that pursued by company to promote or generate the awareness about the product in market for Notpla (Wilson & Gilligan, 2012). ProductThe product that is provided by company is Ooho that is made up of Sachets which is used at the place of plastic cups and bottles. Ooho is considered as the flexible packaging for the sauces and beverages that is made by plants and seaweed. In the near future, the business will make use of the new technology to improve the product and bring diversification. PriceThe price that is offered by Ooho is high but the company should start researching for the new ways though which they can keep the quite low prices for their customers (Hollensen, 2015). PlaceThe location is Australian market where the products will be offered by the company including different areas and regions. The company will
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Marketing management13 be connected with the new distributor, which helps them to make their products available in the market. PromotionThe company make use of the promotion for generating the awareness in the market. It has been found that Notpla company needs to generate the awareness that is possible through social media tools that helps the people to become aware that they can protect their environment. The promotion is possible with assistance of advertisement, social media sites, newspaper, and many others (Kumar, Rahman, Kazmi, & Goyal, 2012). Campaign evaluation The overall control measures for the entire plan will be evaluating the feasibility of the business in the near future. The study will contribute in analysing that the business will survive in the market of Australia for long or not. The brand value and awareness can be measure that will show that the company will be able to stay in market or not. If in case, the company will get the high brand awareness in the market then they will be able to complete the marketing plan. Revenue is one of the measures that can be used with the motive to evaluate that profit can be earned by the company or not (Rothaermel, 2015). This will help them to achieve the best from company in the market. The contingency plan for the business is to educate the people through different session in college, schools that will be effective tool for generating the brand awareness.
Marketing management14 Budget allocation The below given is promotional budget which majorly include promotional budget as well as the advertisement budget which will be conducted by company to target large number of audience for Notpla. Promotional Budget MethodAmount 1. Advertisement Print Media Newspaper$900.00 Journals$600.00 Online advertisement$1200.00 Total$2,700.00 2. Direct Marketing Online media Facebook$900.00 Twitter$1,000.00 E-mail Marketing$200.00 Total$2,100.00 Total amount$4,800.00
Marketing management15 Conclusion In the end of the report, it is found that Notpla is one of the new start-up who is entering into the market with their new product that is Ooho. This product is introduced in the market with the motive to replace the use of plastic and to use Ooho that is one of the biodegradable products. Strategic marketing plan is prepared for the existing company that include the situational analysis with the help of PESTLE, SWOT and competitive analysis. This analysis displays the opportunities and threats that are obligatory to take care by business according to market. In addition, the customer analysis has been done which helps the company in understanding their potential customers. Along with this, the problem statement is formed which shows that company has the issue of price, lack of awareness and lack of distribution of product. In addition, the objectives are prepared, according to which the marketing mix strategy are formed by the company. The promotional budget of the initial level has been prepared which shows the major expense that will be done by the company.
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Marketing management16 Reference Australian Government. (2019).Plastics and packaging.Retrieved from: https://www.environment.gov.au/protection/waste-resource-recovery/plastics-and-packaging Baker, M. J. (2014).Marketing strategy and management. London: Palgrave Macmillan. Chernev, A. (2018).Strategic marketing management. Chicago:Cerebellum Press. David, F.R. (2011).Strategic management: Concepts and cases. India: Pearson/Prentice Hall. Dawson, J.A. (2014).The Marketing Environment (RLE Marketing). New York: Routledge. Frynas, J.G. & Mellahi, K. (2015).Global strategic management. USA: Oxford University Press. Grant, R.M. (2016).Contemporary strategy analysis: Text and cases edition. New Jersey: John Wiley & Sons. Ho, J.K.K. (2014). Formulation of a systemic PEST analysis for strategic analysis.European academic research,2(5), pp.6478-6492. Hollensen, S. (2015).Marketing management: A relationship approach. India: Pearson Education Limited. Išoraitė, M. (2016). Marketing Mix Theoretical Aspects.International Journal Of Research – Granthaalayah,4(6), 25-37. Kotler, P. (2015).Framework for marketing management. India: Pearson Education.
Marketing management17 Kumar, V., Rahman, Z., Kazmi, A.A. & Goyal, P. (2012). Evolution of sustainability as marketing strategy: Beginning of new era.Procedia-Social and Behavioral Sciences,37, pp.482-489. Lovelock, C. & Patterson, P. (2015).Services marketing. Australia: Pearson. Luca, N.R. and Suggs, L.S. (2010). Strategies for the social marketing mix: A systematic review. Social Marketing Quarterly, 16(4), 122-149. Notpla. (2019).About. Retrieved from:https://www.notpla.com/about/ Notpla. (2019).Products. Retrieved from:https://www.notpla.com/products/ Notpla. (2019).Technology. Retrieved from:https://www.notpla.com/technology/ Rothaermel, F.T. (2015).Strategic management. UK: McGraw-Hill Education. Trading Economics. (2019).Australia GDP.Retrieved from: https://tradingeconomics.com/australia/gdp Wilson, R.M. & Gilligan, C. (2012).Strategic marketing management. New York: Routledge.