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MK4024 – Contemporary Marketing Principles

Added on - 07 Oct 2021

  • MK4024

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Running head: MARKETING PRINCIPLE
Marketing Principle
MARKETING PRINCIPLE2
Executive summary
The main aim of this report is to make the marketing plan for Babysitters / Nannies online and
urban sitter. It is found that SWOT assessment is used to assess the strength, weakness,
opportunity, and threat of the company. It is also evaluated that PESTLE analysis is practiced to
measure the country’s condition. This report also demonstrated that Babysitters / Nannies online
and the urban sitter will segment business class family and high-income family to influence the
customers. It is also found that undifferentiated targeting strategy would be used to target the
customers. Furthermore, the differentiation strategy will use to attain the marketing objectives in
the targeted time period. It is evaluated that implementation and control measures will be used to
implement the plan in an effective manner.
MARKETING PRINCIPLE3
Table of Contents
Executive summary.....................................................................................................................................2
Part I: New Product Development and Rationale........................................................................................4
The rationale for a new product...............................................................................................................4
Business Mission.....................................................................................................................................4
Situation analysis.........................................................................................................................................5
Porter’s Five Force Model.......................................................................................................................5
SWOT Analysis.......................................................................................................................................5
PESTLE analysis.....................................................................................................................................6
Part II: Strategy, budget, implementation, and controls...............................................................................7
Marketing objectives...............................................................................................................................7
Strategy...................................................................................................................................................8
Demographic Segmentation.................................................................................................................8
Targeting.............................................................................................................................................8
Positioning...........................................................................................................................................8
Porter’s generic strategy......................................................................................................................8
Marketing Mix.......................................................................................................................................10
Budget.......................................................................................................................................................11
Start-up cost...........................................................................................................................................11
Profit and loss........................................................................................................................................11
Implementation and control measures.......................................................................................................11
Controls.....................................................................................................................................................12
References.................................................................................................................................................14
Appendix...................................................................................................................................................16
Exhibit 1: Start-up cost..........................................................................................................................16
Exhibit 2: Profit and Loss......................................................................................................................16
MARKETING PRINCIPLE4
Part I: New Product Development and Rationale
The rationale for a new product
Babysitters / Nannies online
The key benefit of developing the babysitters/nannies online and Sitter Babysitting App is to
gain the profit. For matching the nannies with family, the company completes the applications.
The application reviews involve every aspect related to home life that can impact on the
placement of nanny. It involves responsibilities and duties, living conditions, personalities,
benefits, general health of children, ages and behavior of children, any special needs, and more.
People can review the skills and work history and interview with nannies to determine the
interests and temperament and types of employment that they can discover ideal. This procedure
permits a company to make a placement that is best for both nannies and the family and one that
could be long-lasting(Nannies Inc., 2018). In the rare instance, while something does not work
out, the company are there to help the family.
Sitter Babysitting App
This app will be beneficial for every childcare needs such as part-time sitter and a full-time
nanny, backup childcare, last-minute sitters, occasional babysitters, and day-night babysitters.
This app would focus on searching or post a job for free, book and pay sitters with ease, sitters
keep 100% of agreed on rate, flexible pricing strategy to contact nannies and sitters, and never
worry regarding childcare again (Urbansitter., 2018).
Business Mission
The mission of Babysitters / Nannies online and Sitter Babysitting App is to develop the
application for hiring nannies and influences the high amount of customers for using the services
of the company in long-standing.
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