Marketing Plan for a New Product

This assignment presents a detailed marketing plan for introducing a new product to the market. The plan encompasses various stages, including pricing strategies, promotional campaigns, finalization and packaging of products, distribution channels, profit calculations, and annual report publication. It also emphasizes the importance of monitoring procedures, encompassing financial, customer, and innovation perspectives, to assess the effectiveness of implemented strategies.

Running head: MARKETING PLAN
Marketing Plan
Name of the Organization: NatureCare Products
Student Name:
Student ID:
Date Commenced:
Date Completed:

1MARKETING PLAN
Table of Contents
Situation Analysis............................................................................................................................3
Issues Statement...........................................................................................................................3
SWOT Analysis...............................................................................................................................4
Opportunities...................................................................................................................................4
Marketing Objective........................................................................................................................4
Corporate Mission Statement......................................................................................................4
Marketing Objectives...................................................................................................................5
Target Markets.................................................................................................................................6
Positioning.......................................................................................................................................6
Marketing Mix Strategy...................................................................................................................7
Services strategy..........................................................................................................................7
Pricing strategy............................................................................................................................8
Distribution channels (Place).......................................................................................................8
Promotional strategy....................................................................................................................9
People, Packaging, Programming, Partnership................................................................................9
Packaging.....................................................................................................................................9
Action Plan....................................................................................................................................10
Monitoring Procedures..................................................................................................................10
Reference List................................................................................................................................12

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Situation Analysis
Issues Statement
The company deals with products that help in taking care of the skin of the consumers.
The ingredients of the products are mainly natural and does not constitute of any harmful
chemicals that may result in damaging of the skin. Currently, the organization consists of a CEO,
an Operations Manager, Sales Manager, Marketing Assistant, five Customer Sales Officers and
five Administration staffs. The products of the company are mainly sold in the health stores
across the country along with their own websites that help them in selling online.
The internal issues of the company are that it wants to expand its business with the help of
efficient human resources so that the marketing of the products can be done in an organized
manner. It will help them in increasing their customer base.
The external issues are that the company wants to sell more through the online platform
by exploring the opportunities that are present by optimizing the search engines and increase the
use of the social media. This will help them in increasing their share in the market to a higher
number by identifying new markets where the chances of selling the products are huge
(Hollensen 2015).
Political
 Pressure from the
government in
accepting new reforms
Economic
 The rate of inflation is
high in the present
market
Social
 Aged population is the
highest purchaser of
these products

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 Stress on
manufacturing eco
friendly products
 The economic
recession has affected
the nature of the
business
 The women are
interested in it because
they like to take care
of their skin
Technological
 The company has a
good research team
who develops products
in an innovative
manner
 The use of natural
ingredients has helped
in upgrading the
products and being
recognized by the
consumers
Environmental
 The changes in the
climate has affected in
getting hold of the
natural ingredients
 Manufacturing the
products are done by
using green products
Legal
 Code of Practice has to
be followed by the
company so that it can
help in minimizing the
risk of breaching
regulatory provisions
 The employees will act
in a professional
manner in accordance
to the code of conduct
with the customers
 The promotions for the
company will be done
according to the code
of ethics by using the
channels over which
the company has a
certain level of control

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SWOT Analysis
Strengths
 Well established in the Australian market,
which has increased the sale of the
products
 The advertisements of the products have
featured in major magazines, which has
grabbed the attention of the customers
 Company has made good profits that
shows its brand value within the market
Opportunities
 Expanding in a foreign market like
Japan
 Increase its share in the market by
selling more products
 Increase the online purchases by
developing better search engines
Weaknesses
 The products are priced at a higher rate
 Jurilique and Botani are the competitors of
the company with respect to the price and
the products
Threats
 Competition is intense, as the rival
companies are producing the same products
at a cheaper price
 Availability of human resources is
less, which has decreased the
efficiency of the company
Marketing Objective
Corporate Mission Statement
The mission statement of the company is to provide the customers with the best and
natural ingredients that are available so that it can help them in creating values within the market.

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The source of the products will be natural so that it does not harm the skin of the customers,
which will help in gaining the trust of the customers.
Marketing Objectives
The importance of marketing objectives is that it helps the company in planning its
course of actions so that by following these steps it will help them in positioning their product in
the market. This will help the company, as the customers would be aware of the products and
will be interested in purchasing it for their uses.
 The objectives with respect to marketing for the company will be to increase its number
of retail outlets in the current market to 150.
 The company also wishes to increase the awareness about the products among the
customers within the market by 20 percent.
 This will result in increasing the share of the market by 15 percent.
 The company also plans to expand in a new country and explore the opportunities that are
present in that market so that the profits of the company can be increased to a great
extent.
 This will help the company in increasing their growth on an annual basis over the next
three year to around 10 percent (Berkowitz 2016).
 This can be achieved by maintaining better relations with the stakeholders and the
employees so that it can help in increasing the loyalty among the customers.
 The percentage of the sale of the products can be increased by producing the core brands
that is available within the company.

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 The company also needs to increase its budget in the advertisements of the core products
so that it can help in selling the products in a better manner.
 The new markets need to be explored by applying proper methods of research and
development along with the process of innovation.
 The feedbacks of the customers need to be taken in to consideration so that it can help in
providing them with additional offers along with the main products (Chaffey, Smith and
Smith 2013).
Target Markets
The company would target the women who are working and are between the ages of 25-
55 years. The research that was conducted by them showed that almost 70 percent of these
customers are interested in the skin care products. Since of the customers in the current scenario
are concerned with their health, taking care of their skin will also be important. The women
customers are keener on taking care of their skin, as they are conscious about their beauty and
will look in to the opportunities that are being provided by the company. The company will also
provide products for children and male counterparts as well, which will help them in attracting a
major number of customers towards themselves (O’Donnell 2014).
Positioning
The company will position itself in the ‘high price, high quality’ segment of the
positioning chart. This is because the price of the products are high because if the use of natural
ingredients so that the customers can be satisfied in using the products. Since the level of
competition is high in the market, the company will try to offer the products in a better manner

7MARKETING PLAN
so that the quality is assured for the customers for the price that they are paying. This will help
the customers in trying out the products rather than purchasing the products at a cheaper price
sold by the competitors (Parente and Strausbaugh-Hutchinson 2014).
Marketing Mix Strategy
Services strategy
It can be recommended that the search engines for the website of the company needs to
be developed in a better manner so that it can help the customers in accessing the products in an
easy manner.
The use of the social media such as Facebook, Twitter and others needs to be done so that
the customer base can be increased. As most of the customers in the present market are using the
social media platforms in an extensive manner, it will be easy for the company to reach the
maximum number of customers.
The retail outlets need to be increased in new places so that the customers can visit the
stores and purchase it after viewing the products.
The staffs who will be employed in the stores have to take note of the customer feedbacks
so that the company can provide the products according to their needs and preferences.
The company also needs to try the door-to-door selling so that the customers who cannot
come to the stores or have no access to the internet can get better information regarding the
products produced by the company (McDonald and Wilson 2016).

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Pricing strategy
The prices of the products need to be changed gradually so that it can help in identifying
the products that are selling at a faster manner. The decrease in the price of those products will
help in increasing their profits as well.
The company during the time of deciding the prices; needs to identify the strategies of the
competitors so that it can help them in putting the price price tags on the products, which will
help them to be competitive.
The company needs to provide the loyalty cards, bonuses and discounts for the customers
so that it can help in increasing the base and the loyalty of the customers towards their products
(Solomon 2014).
Distribution channels (Place)
The relationship with the suppliers has to be maintained by the company so that the
products can be obtained from them at a cheaper price. This will help in\\them in keeping the
margin of profit low from the customers.
The company needs to ship its own products to the identified wholesalers so that they can
supply it in the local market.
The products that are present in the retail outlets needs to be monitored so that the stocks
can be replenished and the customers can purchase it.
The use of proper network of communication has to be maintained so that it can help in
transferring the messages easily (Fleisher and Bensoussan 2015).

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Promotional strategy
The company needs to use the print media so that the products can feature in the
newspapers and the magazines for the readers to know more about the products.
The social media platforms will provide the company with a good customer base, as it
will help in attracting most of the customers.
The availability of premium products needs to be done by the company so that it can help
the customers in recognizing the different products that are available.
The company can sponsor wellness events so that it can help in associating the brand
with the customers about taking care of their skin (Solomon 2014).
People, Packaging, Programming, Partnership
Packaging
The packaging of the product is important for the company, as it will help the company in
preserving the product by packaging it in a better way. The transfer of the products from one
place to another may result in damaging the product, which can be taken care by providing a
better package.
It also helps in attracting the customers towards the products. The choice of the colors
will help the company in grabbing the attention of the customers.
It plays an important role in the promotion of the product as well. The information that is
available on the outside of the product will help the customers in getting the information about
using it in the right manner.

10MARKETING PLAN
The packaging will also help the customers in getting all the information regarding the
content of the ingredients that are present within the product. This will help in facilitating the
decision to purchase the products by the customers (Parente and Strausbaugh-Hutchinson 2014).
Action Plan
Action Plan Timetable (Period Plan Covers eg. Nov 2017 to Nov 2018)
Details of Activity Employee Assigned Timetable
(Start and Finish Dates)
Pricing of the product
4 1st week to 3rd week of Nov
Promotion of the product 6 4th week to last week of
Dec
Finalizing the products 2 1st week to 2nd week of Jan
Packaging of the products 3 3rd week of Jan to 1st week
of Feb
Distributing in the retail
stores
4 2nd week of Feb to 3rd week
of Nov
Calculation of the profits 3 3rd and 4th week of Nov
Publishing annual report 2 Last week of Nov
Monitoring Procedures
The company needs to monitor the changes that are taking place within the company so
that it can help them in understanding the way the strategies taken up are working in the market.
The financial perspective will be monitored by the accountants so that it can help in
understanding the profits or the losses that the company is facing in every month from the stores
and the online selling.

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The customer perspective will help the company in monitoring that the products are
being designed according to the needs of the customers so that they can be interested within the
products. The perspective of innovation also needs to be taken in to account so that it can help in
understanding the process of innovation that has been taken up by the research and the
development team in making the products according to the likes of the customers (Chaffey,
Smith and Smith 2013).

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Reference List
Berkowitz, E.N., 2016. Essentials of health care marketing. Jones & Bartlett Publishers.
Chaffey, D., Smith, P.R. and Smith, P.R., 2013. eMarketing eXcellence: Planning and
optimizing your digital marketing. Routledge.
Fleisher, C.S. and Bensoussan, B.E., 2015. Business and competitive analysis: effective
application of new and classic methods. FT Press.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
O'Donnell, A., 2014. The contribution of networking to small firm marketing. Journal of Small
Business Management, 52(1), pp.164-187.
Parente, D. and Strausbaugh-Hutchinson, K., 2014. Advertising campaign strategy: A guide to
marketing communication plans. Cengage Learning.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Upper Saddle
River, NJ: Prentice Hall.