Marketing Plan on Warren Bakery Assignment

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MARKETING
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EXECUTIVE SUMMARY
Warren Bakery is a UK based small firm which offers desserts and cakes to their
customers. Company is planning to enhance their social media presence so that high sales can be
achieved. By using market audit like internal and external analysis, impact of different factors
such as culture, political aspects etc. on business operations is acknowledged. Right audience is
targeted so that maximum sales can be attained. By using various social media zones, business
expansion strategy and activation plan is prepared to attain expected outcomes. At last, measures
and ways to manage social media plan through technique like bench-marking is performed to
analyze attained results.
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Contents
INTRODUCTION...........................................................................................................................................4
MAIN BODY .................................................................................................................................................4
Introduction to business..........................................................................................................................4
Marketing audit to acknowledge current market situation.....................................................................4
Objectives of business organisation.........................................................................................................7
Gather insight into target audience.........................................................................................................7
Social media zones and vehicles..............................................................................................................7
Formulation of experience strategy by using selected zones..................................................................8
Formulation of an activation plan............................................................................................................8
Manage and measuring ..........................................................................................................................9
CONCLUSION...............................................................................................................................................9
REFERENCES..............................................................................................................................................10
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INTRODUCTION
Marketing is referred as a business activity that is initiated by a business company so that
their services and products can be sold in large amount. With the help of marketing, popularity of
services or products can be enhanced in a considerable manner. Marketing plan is referred as the
important aspects of business plan as it benefits the company in gaining the attention of
customers in a proper manner (Batra and Keller, 2016). This is a detailed blueprint that specifies
the advertising techniques for the next financial year. This report is written in context with
Warren bakeries which is a London based small bakery offering cakes and desserts to their
customers. This assignment will include information about concerned business, marketing audit,
objectives of company etc. so that right kind of people can be targeted. Beside this, information
regarding vehicles, social media zone, activation strategy, monitoring and managing budget etc.
is mentioned briefly.
MAIN BODY
Introduction to business
Warrens bakery is a London based small bakery which provides cookies, desserts and
cakes to their customer base. Beside this, firm is popular for selling their sugar-free products
such as cookies, desserts and cakes without sugar. Due to this, people from all age group prefer
to buy their products. This company was started in 2011 and performing well in local market.
But as technology is getting advanced, people are becoming more dependent on it to perform
their basic activities and tasks. In this case, company is planning to enhance their social media
presence so that large number of people can acknowledge their services. By preparing social
media plan, company can increase their customer base and revenues as they will acknowledge
their needs and demands properly (Chaffey and Ellis-Chadwick, 2019).
Marketing audit to acknowledge current market situation
Marketing audit is referred to the way by which internal and external business
environment is evaluated in a proper manner. It is important for the business owner of Warren
Bakery to perform market audit so that they can identify their strengths and weaknesses in a
proper manner. In case of Warren Bakery, market audit is performed below:
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Internal factors: These business factors are internal to company and impacts the productivity
and profitability in a considerable manner. These factors are usually concerned with the values,
organizational structure and customer o the company. In relation with Warren Bakery, these
factors are discussed below:
Value system: It includes the ethical opinion and beliefs of a company. In case of
Warren Bakery, employees are treated properly and given appreciation or rewards on
monthly basis according to their performance. In case of customers, value of company is
to provide best service so that they can trust the efficiency and efforts of the employees
working in bakery. In this context, customers are also provided sugar free cakes and
desserts so that they can buy snacks and desserts as per their need (Erevelles, Fukawa and
Swayne, 2016).
Organizational structure: Firm possess a flat organizational structure where ten
employees work in a coordinated manner. In bakery, opinions of these employees are
given consideration and decisions are taken by including every working individual.
Organizational structure of company is robust.
Culture: Company has a role culture in which each employee has a specific role. Due to
this, employees are well familiar with their job roles and they perform activities as
expected by the business owner of company. Also, employees are given regular training
of using internet and social media for work purpose. Due to this, working productivity of
company is high.
External factors: These aspects are related with all those factors that can affect business through
external market and business environment. These aspects in context of Warren Bakery are
discussed below:
Political factor: UK is a developed and stable nation but due to Brexit, some
uncertainties are faced by the country. To overcome it, government in UK is offering
high support to small businesses and start-ups in the form of loan, subsidy and tax
evasion. This factor is in favour of Warren bakery (Felix, Rauschnabel and Hinsch,
2017).
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Economic factor: These factors relate to growth rate, interest rate, GDP, inflation rate
etc. per capita income of people in UK is high due to which they are capable to spend on
eating food like cake, cookies and desserts. This will increase the revenues of Warren
Bakery but due to increasing inflation rates, business can face some recession.
Social factor: Population is UK is educated and health conscious so they prefer to eat
food that will not harm their health. In this context, sugar-free products of company will
gain wide popularity and sales due to which sales of company will enhance in a
considerable manner.
Technological factors: It is very important for the Warren Bakery to update their
technology as per latest trends so that customers can be served in a proper manner.
Warren Bakery is required to increase their social media presence and advertising so that
maximum number of customers can acknowledge about their services or products.
Environmental factors: These factors are related with protecting environment from
various business activities. Following this laws, will increase the reputation of Warren
Bakery in the minds of customers due to which they will be able to achieve wide
customer base and sales.
Legal factors: It involves different legal norms and laws which are formulated by UK
government so that customers and workers can be protected from mistreatment of
business firms. If owner in Warren Bakery will follow these laws, company will be able
to secure themselves from penalties and fines.
SWOT Framework
SWOT is a business tool which will allow Warren Bakery in acknowledging their
strengths and weaknesses along with opportunities & threats so that high revenues can be
achieved in a desired manner. Below is performed SWOT analysis for company:
Strengths Weaknesses
Company offers both sugared and
sugar-free cakes, cookies and desserts
to customers through online sites and
social media platforms.
Social media following of company is
less in number due to which less
number of people acknowledge their
services and products.
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Orders of customers via social and
online sites are fulfilled in a proper and
timely manner.
They are weak in marketing and
promotional tactics over social media.
Opportunities Threats
Company can expand their product line
by offering beverages also.
Firm can expand their social medial
and online presence by using Facebook,
Twitter or Instagram for business
purpose.
Competition from large scale
organisations is high due to their active
presence on social media sites.
Threat from small companies is
increasing due to their enhanced social
media presence (Feng, Morgan and
Rego, 2015).
Objectives of business organisation
Social media objectives of business firm are stated beneath:
To increase revenues of firm by 25% in next four months through social media
advertising.
To enhance online sales by 15% in next 4 months.
To enhance Facebook people following more than 12,000 people in upcoming 4 months.
To create Instagram Profile to gain attention of maximum number of individuals in
London and outside regions.
Gather insight into target audience
To target their right audience, it is essential for the business owner of Warren Bakery to
segment them in a proper manner. This will help them in satisfying the needs of customers as per
their expectations and desires. Concerned company is going to target their customers in
accordance with demographics and social media millennials (Fortenberry Jr and McGoldrick,
2016).
Demography: Firm will target their customers according to their age. Most of the
customers of company are in the age group of 15 to 35 years. People from this age group
remains active on social media on daily basis. Targeting these people through social
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media and traditional advertising will help the company in achieving numerous success
and profits.
Social media millennials: These are those individuals that purchases a product and
service after seeing its promotions and advertisement on different social media platforms.
Owner in Warren Bakery can promote about their products on Facebook, Twitter and
Instagram to maximize their sales.
Social media zones and vehicles
There are different kind of social media zones and vehicles which can be used by Warren
Bakery so that their business can expand smoothly with the help of social media. Some of these
zones are mentioned below:
Social commerce: This type of social media zone is used for online selling or buying of
different goods or services. There is different type of channels in this zone which can be
used to sell and buy good in a simplified manner. For example, Groupon, TripAdvisor
etc.
Social entertainment: This zone includes of various social media channels that are
specifically used for enjoyment, entertainment and playing purpose. Some of channels
included in this zone are Come2play, Myspace etc (Gneezy, 2017).
Social community: Under this zone, those channels of social media are included which
are used for the purpose of social media interactions. Warren Bakery can use this channel
to interact with maximum number of people about their services or good in a shorter time
span. Various channels which are included in this zone are Instagram, Facebook, Twitter
etc.
Formulation of experience strategy by using selected zones
To advertise and acknowledge people about their services or products, Warren Bakery
has decided to use social community zone i.e. Instagram and Facebook channel as their business
expanding strategy. In this case, the organisation is planning to prepare Instagram profile and
addition of pictures, videos and other information about products of business. This will help
them in gaining attention of maximum number of customers (Homburg, Jozić and Kuehnl,
2017). Company is also joining hands with successful pages on Facebook for promotion of their
products so that their fan following can increase in a high manner. By offering discounts and
posting about their services in regular basis, revenues and profit margins of company can be
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increased in a considerable manner. This will help the company in gaining strong position
against rivals and competitors.
Formulation of an activation plan
In order to achieve their expected results and objectives, concerned company is required
to formulate an activation plan. This plan will help the company in increasing their customer
base so that they can earn high profits and revenues. In this context, company is initiating a
campaign in which products of company will be offered to customers in the form of free
samples. This will help the company in acknowledging their customers about the high standards
and taste which is not compromised while producing products. This campaign will start from 26th
July 2019 to 16th August 2019 in different locations within UK. Within these 20 days’ company
will try to tell maximum of their customers about their social media presence and online order
service. This will help the concerned bakery in achieving their objectives properly (Kannan,
2017).
Manage and measuring
In order to manage and accomplish their social media plan, company requires around
1200 pounds. Within this money, promotional tactics through professional advertisements on
social media and online sites will take place. Estimated time for these activities is 4 months. In
order to measure their performance over social media, company can monitor their sales
increment due to online orders in upcoming four months. Beside this, company can use
Instagram and Facebook following to understand their increase in popularity because of social
media within time period of four months (Kerin and Hartley, 2015).
CONCLUSION
As per above depicted report, it has been concluded that it is vital for a business firm to
enhance their social media presence through different social media marketing plans so that they
can maximize their customer base without any complex work. By formulating right business
objectives, segmenting and targeting people properly, preparing strategy and activation plan
sales due to online media can be increased. This will result in high profitability to company. By
measuring and managing business performance, essential improvements can be carried out in a
timely basis.
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REFERENCES
Books and Journals
Batra, R. and Keller, K. L., 2016. Integrating marketing communications: New findings, new
lessons, and new ideas. Journal of Marketing. 80(6). pp.122-145.
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
Erevelles, S., Fukawa, N. and Swayne, L., 2016. Big Data consumer analytics and the
transformation of marketing. Journal of Business Research. 69(2). pp.897-904.
Felix, R., Rauschnabel, P. A. and Hinsch, C., 2017. Elements of strategic social media
marketing: A holistic framework. Journal of Business Research. 70. pp.118-126.
Feng, H., Morgan, N. A. and Rego, L. L., 2015. Marketing department power and firm
performance. Journal of Marketing. 79(5). pp.1-20.
Fortenberry Jr, J. L. and McGoldrick, P. J., 2016. Internal marketing: A pathway for healthcare
facilities to improve the patient experience. International Journal of Healthcare
Management. 9(1). pp.28-33.
Gneezy, A., 2017. Field experimentation in marketing research. Journal of Marketing
Research. 54(1). pp.140-143.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science. 45(3). pp.377-401.
Kannan, P. K., 2017. Digital marketing: A framework, review and research agenda. International
Journal of Research in Marketing. 34(1). pp.22-45.
Kerin, R. and Hartley, S., 2015. Marketing: the core. McGraw-Hill.
Kotler, P. and et. al., 2015. Marketing. Pearson Higher Education AU.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Shaw, S., 2016. Airline marketing and management. Routledge.
Wedel, M. and Kannan, P. K., 2016. Marketing analytics for data-rich environments. Journal of
Marketing. 80(6). pp.97-121.
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