Marketing Plan for a New Product

This assignment focuses on developing a comprehensive marketing plan for a new product. It requires students to analyze current market trends, identify target audiences, evaluate competitors, and propose effective marketing strategies. The plan should encompass various aspects like pricing, promotion, distribution, and public relations.

Marketing Planning

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
1.1 Changing perspectives in marketing planning......................................................................4
1.2 Organisation’s capability for planning its future marketing activity....................................5
1.3 Techniques for organizational auditing.................................................................................5
1.4 Organizational auditing.........................................................................................................6
TASK 2............................................................................................................................................7
Covered in PPT...........................................................................................................................7
TASK 3............................................................................................................................................7
3.1 Marketing plan for a product or a service.............................................................................7
3.2 Marketing planning is essential in the strategic planning process for an organisation.........8
3.3 Techniques for new product development............................................................................9
3.4 Recommendations for pricing policy, distribution................................................................9
3.5 Factors affecting the effective implementation of the marketing plan................................10
TASK 4..........................................................................................................................................11
Ethical issues influence marketing planning. Along with the example of ethical issues and
consumer ethics.........................................................................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing Plan is elaborating a systematic, inter connected as well as logical step with
the proper process so that they can achieve the marketing goals. Marketing plan assist in
analysing the internal and external environment, markets, competitors. Along with this it helps in
specifying the objectives of marketing, necessary strategies as well as tactics (Hollensen, 2015).
Staff members of the business entity have to do proper allocation of resources which embedded
the control and have to take proper actions which helps in attaining the marketing goals in the
effective as well as efficient manner. Marketing plan is the appropriate tool which succour in
achieving the goals and objectives. The present report is based on Softwire Technology Limited
is a private company which provides a complete outsourcing services for the software
development. Company having expertise in many technology platforms including cloud. Along
with this staff members completed their projects in time and in their budgets. In the present study
discussion upon the types of marketing as well as human capabilities (McDONALD,
M.A.L.C.O.L.M and Brown, 2016). This includes the SWOT along with PESTEL analysis so
that they can analyse the potential for their future plans. Moreover, this report analysing the
barriers for their marketing planning and the ways to overcome on them.
TASK 1
1.1 Changing perspectives in marketing planning
Changing perspective in marketing plan is a tool or method which enables the
management to know everything related to the company so that they can attain the goals.
Traditional Marketing Planning – It is a traditional as well as old method to do the marketing
of the product along with the services. The staff members of Softwire Technology Limited have
to make their software or develop their software without knowing the expectations of the
consumer and wait for the sale. Along with this company is using normal medium for doing the
advertisements. In the current situation it is not the effective way for doing the marketing and
having mainly focus on sales (Meidan, Moutinho and Chan, 2015).
Modern Marketing Planning – It is upgraded version of traditional marketing and in this
employees of Softwire Technology Limited have to focus on consumers needs as well as

requirements and have to develop the software according to that. In this type of marketing they
are using best medium for the advertisement and by using the modern technique they can
increase their sales.
Changing Approach to Marketing Planning – In the starting time, Softwire Technology
Limited is using traditional approach in which they are developing the software but not focusing
on the needs of consumers and it affect the sale as well as profit of the business entity (Renz,
2016). To enlarge the market along with the expansion of the business, workers have to develop
software according to the requirements which assist in increasing the sales. In the present time,
business enterprise is using effective communication method for doing the advertisements so that
they can attain their goals.
1.2 Organisation’s capability for planning its future marketing activity
Softwire Technology Limited company having many resources which become their
capability for doing the marketing activity for the future so that they can attain the goals and
these capabilities are:-
Human Capabilities – Business entity having many employees in the various departments and
also in the various branches and according to that business entity members analyse the demand
of Software. Along with this firm having a team which helps in developing the Software
according to the demand of the consumers. They are having a lot of human power along with the
good leaders so that Softwire Technology Limited can make their bright future (McKenzie,
Neiger and Thackeray, 2016).
Physical Capabilities – Business entity is following good structure for doing the development in
Software and also having different branches which is a physical capability of them. The
employees Softwire Technology Limited have to make a good distribution of the Software which
they are developing or introducing according to the consumer wants. This helps the enterprise in
making a grip in the market.
Financial Capabilities – Business entity having a brand name as well as brand image in the
market. This is included in the most important part of the company and by this staff members of
the firm can make their proper budgets for developing the products. If the company having any
project for the future then they can easily get finance for this as their sales as well as demands
are good in the market and financiers are easily available in the market for these type of
organisations (Chaffey, 2016).

1.3 Techniques for organizational auditing
Every company have to conduct their audit activity in a equal interval of time which
assist in examining and determining any mistake, opportunity and fraud that is happening around
the business entity. Analysis of the external factor defined as a strategic tool so that they can
evaluate the external environment of the firm which includes economic, social, technological,
government, political, legal as well as competitive information. There are two external factors
which affect the marketing planning of Softwire Technology Limited includes:
Technological environment - This is the main factor which affect the marketing planning
of the business entity. The level of technology, speed of technology, research as well as
development budget technology transfer are included in the technological environment (Wilden
and Gudergan, 2015). These elements affect the decisions of the business directly due to rapid
growth in technology. The employees of Softwire Technology Limited have to use the upgraded
technology in developing the Software so that while doing the marketing planning can not face
any obstacle.
Economical environment - It is also included in the important factor which affect the
marketing planning of Softwire Technology Limited. Inflation, interest rate as well as
unemployment are included in the elements of economical environment. These factors directly
affect the business organisation along with the decisions which they are taking. The decision
which are taken by the employees as well as managers of Softwire Technology Limited have to
proper checked and analysed. The elements of economical environment affect the company as
they are not in the control of the system (Goi, 2015).
1.4 Organizational auditing
Organisational audit refers to the activity which is created to assist the organisation so
that they can do the proper improvements in its operations by identifying strength as well as
weaknesses of the firm so that they can achieve the goals and objectives. The process of analysis
included in the part of planning process which involve in both external as well as internal audit
(Kozlenkova and et.al., 2015).
SWOT analysis - Softwire Technology Limited can do the proper and appropriate analysis or
evaluation by using SWOT technique so that they can attain the goals and objectives.
Strength Weaknesses

 Strong brand with a broad consumer
base.
 Consumer loyalty.
 High level of consumer.
 Business entity having a good and
active sales team which helps in
developing the Software (Cross, Belich
and Rudelius, 2015).
 Company having good track record
with the great power comes with the
great responsibility.
Company having poor marketing skills.
Low quality product.
Lack of innovation.
Plenty of competition in the market and for that
they have to use good technology.
Opportunities Threats
Strong growth in the market.
New market and mediums to exploit.
Disappearance of leading competitor.
The company having a great opportunity to
develop the software with the appropriate
programme and large chunks of money to
invest.
New low cost competitors could be emerging
so that purchasing power of the buyers is
increasing.
Overall growth in the market may be slow.
Losing out on new markets and company does
not manage to sell the products quickly.
Business entity does not offer any cheap
products and by that they can lose out their
market share (Dredge and Jamal, 2015).
TASK 2

Covered in PPT

TASK 3
3.1 Marketing plan for a product or a service
Marketing plan is a important document which includes the market evaluation, goals,
direction as well as marketing result. They have to make proper plan for doing the marketing
which includes some steps they are:
Situational review – The staff members of Softwire Technology Limited have to do proper
research of the market which helps in finding the internal and external factor and these factors
affect the marketing planning of the company (France, Merrilees and Miller, 2015). The
company can conduct the SWOT as well as PESTEL analysis which succour in finding out the

strength as well as weakness and opportunities as well as threats. Along with this it allows to the
stakeholders to make the alternatives for the marketing plan if there is a need.
Strategy Formulation – Then in this stage the staff members of Softwire Technology Limited
have to formulate the proper strategy so that they can attain the marketing objectives in future.
They have to use and allocate the available resources which helps in improving the sales and
earn the maximum profits. The manager of the business entity can use different strategies like
Ansoff or BCG matrix so that they can attain the goals and objectives (Miles and et.al., 2015).
Monitoring and control – By doing the proper planning, they can do monitoring as well as
controlling. Control includes the measurement, monitoring as well as evaluation. It is essential
for the marketer that they have to make a proper budget and have to put a control on budget so
that they can make a implementation and by that they can develop the software as it helps in
attaining the goals and objectives.
3.2 Marketing planning is essential in the strategic planning process for an organisation
Marketing planning is an important part of management department of the company as
this includes planning with respect to each activity and procedure carried out to complete the
procedure of marketing. The employees of Softwire Technology Limited have to make proper
marketing plan so that they can provide the appropriate information that enables the stakeholders
to measure the progress and have to highlight the most appropriate the marketing strategy. They
have to make effective marketing plan which assist in increasing the sales of product as well as
enhance and improve the profit margins of Softwire Technology Limited. There are some
advantages of the market plan which includes:
Staff members have to focus on the target market so that they can develop the product
accordingly (Vernuccio and Ceccotti, 2015).
Then they have to identify the consumers needs and wants.
Then the employees of Softwire Technology Limited have to determine the product demand in
the market.
Another one is that they have to identify the potential consumers.
The manager of Softwire Technology Limited have to identify the competitors by the competitor
analysis and by that they can attain the competitive advantage.
The manager have to do appropriate and relevant measurement so that they can generate
the operational activities and by that they can identify that how they have to make a profit. They

have to make a good marketing plan which helps in obtaining the goals and objectives and
capture the opportunities (Noori, 2015).
3.3 Techniques for new product development
The new product development process having the potential because the company having
the inherent uncertainty in the process as well as proper methods which is available for the
product development. The employees of Softwire Technology Limited have to do the proper
development in Software so that they can provide the actual and maximum satisfaction to the
consumers. To fulfil the purpose of the business entity have to conduct the proper research so
that they can develop the sustainable environment of the country which is very crucial which
assist in providing a best experience of doing the work and have to provide the full satisfaction.
The demand of the new and innovative software of Softwire Technology Limited is very high
(Xiang, Magnini and Fesenmaier, 2015). The management or administration of the business
entity have to design the appropriate strategy along with the proper planning so that they can use
or allocate resources for the development which succour in providing the best satisfaction to
customers or the other company members who are using the software's of Softwire Technology
Limited. The designing of Software is very good and accurate and the working of that is also best
so that other members who are using this they can not face any problem and can maintain the
records or information properly. They have to provide the software according to the needs and
wants of the consumers or the other company members then only they can improve the sales and
attain goals and objectives.
3.4 Recommendations for pricing policy, distribution
Distribution Mix represents the way of distribution, the methods of transportation and on-
hand inventory level. It is important that company members have to conduct the following
options of the product distribution which includes:
 Retailing
 Internet sales - website
 Mail Order – throughout brochure
 Wholesaler
The employees of Softwire Technology Limited have to select a proper distribution way for the
development of the product and have to concentrate with the product price (Xiang and et.al.,
2015). Price policy would affect the sales of the product or software which the business entity

develop and on the basis of that they can earn profit or facing a loss and after that they can find
out that for whom the product to be sold and what are the services should be attach. After that
they have to sell the products to the consumers. The recommendation for the pricing strategy is
that they have to develop the product with the appropriate production as well as marketing cost.
The staff members of Softwire Technology Limited have to use proper distribution strategy
which assist in selling the products and have to make franchisee in the markets. Along with this
they have to use e-commerce because targeted consumer using both distribution channel. The
employees of Softwire Technology Limited have to use effective tool of the communication to
advertise the product. They can provide the advertisement through magazine or newspapers.
Along with this they can use television and Internet ads (Mason, Kjellberg and Hagberg, 2015) .
3.5 Factors affecting the effective implementation of the marketing plan
The staff members have to make proper and effective marketing plan and that marketing
plan must be implemented effectively so that they can ensure the successful obtain of the
objectives which are mentioned in the plan. The success of the plan implemented to the various
activities which is directly depends on the certain elements of the marketing so that they can
attain the goals as well as objectives. The workers of Softwire Technology Limited have to
maximise the profit as well as minimise the risk in a business which assist in making a suitable
marketing plan and by that they can satisfy the needs of consumer. They have to to use
appropriate marketing tools and have to use correct information which helps in enhancing the
flexibility (Liu, Eng and Takeda, 2015). There are some factors which affect the progress of
Softwire Technology Limited in a market:
Management not supportive: By taking the assumption higher authority of the Softwire
Technology Limited do not agree with the proper marketing plan and decide that they are not
supporting this plan. So, they have to use proper elements so that they support and by that they
can attain goals.
Budget limitation: Without the financial support marketing team can not do proper research and
by that they can not make good marketing plan.
Illegality: The manager of the business entity making a marketing plan and if this marketing plan
is against with the law or regulations which are introduced by the regulatory bodies then it might
lead to take a legal action to Softwire Technology Limited.

These are the factors which affect the effective implementation of the marketing plan and
by that they have to conclude that they have to use those factors which are essential would
impair the marketing plan into a account so that they can draft a good plan of marketing
(Donnelly and et.al., 2015).
TASK 4
Ethical issues influence marketing planning. Along with the example of ethical issues and
consumer ethics.
Ethics is very important for the business entity and can be seen as morality. Business
ethics is the right or wrong by the morality in relation to the business activities. Sometimes the
manager of Softwire technology Limited have to manage the conflicts between the right versus
right rather than wrong versus wrong. Ethics is a relate theory which assist in showing and
guiding the individual person of the compact that what is right and what is wrong for doing the
development on Software. In simple term it has been describe as the moral value which can be
prohibit the unlawful thing within Softwire technology Limited. It is very critical, important as
well as essential for the success of the business entity (Saunders, Barrington and Sridharan,
2015). There are six elements which are included in the ethics like morality, trust, responsibility,
principles, reliability along with the behaviour. Company profit is directly related with the
growth as well as profits with ethics. The decisions which are taken by the top management
based on ethics in doing various planning along with the strategies for the business activities
such as marketing and consumer service so that they can fulfil the demand with the greater
satisfaction to the society (Marketing plans, 2017). These are the benefits for doing the adoption
of ethical policy of the commercial function are as follows:-
 Improvement in the quality of doing the development in Software.
 Win-Win marketing.
 Moral marketing compass.
The staff members of Softwire technology Limited have to use the appropriate strategies
which will assist in enhancing the ethical behaviour and also avoid the unethical behaviour in the
business entity. Top managers of Softwire technology Limited provides the encouragement to
the subordinates for the development of Software by providing the support and care upon the
ethical practices (Fleischmann, Meyr and Wagner, 2015). It is recommended that in business

organisation, top managerial level have to focus on institutionalization of the ethical norms as
well as practices that are incorporated into all the organisational levels. Softwire technology
Limited should be avoiding these unethical issues which are:
Product – Company having misleading information and also having a lack in the quality control.
Along with this they are not doing the good development of the product and services as well as
having unfit product description.
Price – Company have to do proper development of Software according to the needs, wants as
well as requirements of the consumers. Expensive price with a poor quality product. So, they
have to develop for improving the sales.
Place - Softwire technology Limited have to do the appropriate development of Software that
they are having the different product price in the different locations (Hollensen, 2015).
Distribution – Company have to do proper control for the product supply as well as increase the
product selling price when they the services are out of stock.
Advertisement - Softwire technology Limited have to do appropriate advertisement with their
consumers. Along with this they have to use their morale ethics. They have to show the fair part
of their products (Ethical marketing, 2012).
The concept related to ethical issues which is concerned with the conflicts of consumers,
disputes as well as disagreements. There are some effects on the ethical practices of Marketing
Planning of Softwire technology Limited are:
Market Research – Invasion of privacy as well as stereotyping are some issues which the
business entity facing. If stereotyping is not done in a proper manner it may result to a
undesirable consequences.
Market Audience – Another problem which is related to ethical issue raises before Softwire
technology Limited is that vulnerable audiences in emerging markets in the developing nation as
the public are not aware about the competent marketing ploys properly.
Using ethics as a Marketing Tactic - Softwire technology Limited having a fear of the damages
to their reputation which are associated with the press revelations of the unethical policies. This
having a affect on the brand name of the business entity as well as sales of the company
(McDONALD, M.A.L.C.O.L.M and Brown, 2016).
The company members have to follow the appropriate marketing plan so that they
become successful by taking consumers rights into account. They become immoral in the

product sales along with the product purchase as it may cause a bad attitude or situation. For
Example, If consumer purchasing a product which is illegal or against the law. Then the staff
members of Softwire technology Limited would be consider about the consumers rights for
improving the sales of the business entity. It will directly affect the market itself as well as
unethical behaviour will be spreading around (8 Steps to Create a Great Marketing Plan for your
Event, 2017).
CONCLUSION
It has been inferred from the above carried out analysis that they have to make
appropriate marketing plan so that they can not face any problem in attaining the goals. The staff
members of the business entity have to use appropriate techniques for the organisational auditing
which assist in reaping the targets. The employees have to make proper survey for the demand
and trends of the consumers and on the basis of that they have to do marketing planning which
helps in earning maximum profit. The workers have to do proper analysis of the market so that
they can develop the new product on the basis of needs and requirements which assist in
attaining leading position in the competitive market. The employees of the firm have to focus on
the culture then only they have to make a merchandise and do the production.
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