Marketing Plan and Marketing Strategy Assignment

Running Head: MARKETING
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Marketing Strategy and Plan
Student’s Name
Institutional Affiliation
Date of Submission

MARKETING
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Introduction
For many years, there has been confusion between a marketing plan and a marketing strategy.
However, it should be noted that marketing plan and marketing strategy are two different
platforms that are not baked together. Such is due to the fact that the two feed off each other. On
the contrary, the difference between them is blurry. As marketing strategy is all about the larger
picture of what a business organization offers, proposition of value and brand messaging;
marketing plan is all about the manner in which business organizations get through such brand
messages (Electric Boat Association, 2017). In this case, the brand messages include:
1. Platforms
2. Creativity
3. Timing
Another important factor to note is the fact that marketing strategy has the potential of getting
absorbed into statements of corporate value alongside other strategy documents. Regarding the
mentioned differences between marketing strategy and marketing planning, this strategic
research paper will achieve its objectives through the conducting of analysis in marketing
opportunity and research of the identified product. By so doing, the paper will assess the new
product’s potentiality and future demand. In this case, we will assess a solar powered vessel
known as the 42m Solar Dream. Regarding the same, analysis on market opportunity; as
mentioned before, will be performed. However, the main objective of this paper is to have Solar
Dream market potentiality assessed. The market for this particular product, its marketing mix
and also demand will be assessed. On market opportunity analysis, this paper will conduct a
PESTEL and SWOT analysis (Electric Boat Association, 2017).
Product Description
The Solar Dream vessel is one aimed at creating a sailing experience in a way that is eco-
friendly. The vessel happens to be an incredible catamaran which is also 42 meters in length.
Among its unique features is a solar cell that is 360-square-meter in cross-section. With the
same, the vessel is considered to be efficient, ecological and able to provide a hybrid solution for
propulsion. On the same innovation achievement, the credit goes to one Swedish yacht designer
known as Dennis Ingemansson (Groom, 2017). Dennis introduced the Solar Dream idea then

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collaborated with the Ned Ship Group (a Turkish shipyard) to develop a sailing vessel that is
wonderful and eco-friendly. Just to add on the design, this particular yacht has an ultra light back
up carbon fiber of a hull. This hull is purposed to allow the vessel achieve its top speed of 22
knots with less effort. Also, the yacht has a 580 square meters interior spacing alongside an
owner’s suite that is double plus a capacity of approximately ten people. It also has three guest
rooms which provide an experience that is luxurious. The main advantage associated with the
yacht is its ability to fuel efficiency (Farris, Bendle, Pfeifer & Reibstein, 2010).
Marketing Trends and Environment
Out of a business organization’s value proposition does a marketing strategy grow. However,
this value proposition compiles a company’s competitive advantage within a given market. With
value proposition, a company is able to provide all marketing’s key message. Taking an example
of Walmart, for our case analysis; this is a discount retailer which provides low prices. Its
marketing and business operations happen to be revolving around the same. From the example,
we should understand that a business organization does not have to create a strategy for
marketing from scratch (Kurtz, Mackenzie & Snow, 2009). Most companies will begin with
value proposition after which they distill the main marketing message from the same. As long as
the intended value proposition is well stated, everything gets considered as complete. All the
assets for marketing are judged depending on how proper they communicate the value
proposition. To have the efforts of marketing efficiency furthered, research in marketing is
integrated to strategic marketing so as to identify the audiences that are untapped and also refine
consumers that are targeted. Afterwards, an objective for strategic marketing is then set.
Marketing plans that follow, there on, will then inherit on delivery responsibility. Such plans
should be concrete for instance, sales increment (Kelley & Jugenheimer, 2008).
Marketing plans can be defined as documents of operation which obtain more attention. Such is
due to the fact that these plans are everyday work which a business organization does announce
itself to the business environment. Having said so, it is evident that a marketing plan without any
form of message would be of no meaning. It is the goal, the target and the message which forms
the core of any given marketing strategy. Several research activities on marketing portray that
individuals have always needed vessels that are eco-friendly. On the same, the new eco-friendly
vessel will address issues on:

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1. Ensure sustainability
2. Pollution prevention
3. Other environmental issues
In the current technological world, the demand of such eco-friendly vessels is associated with
features like having a small crew, extreme comfortability, fuel efficiency and being eco-friendly.
The catamaran will, therefore, be a brilliant place to spend time, relax with one’s friends and
family and also hang out. Other features that will be incorporated in future models of the yacht
include:
1. A gym
2. A massage room
3. Sauna
4. Jet skies
5. Diving equipment
All these features are intended to keep passengers comfortable. Also, since people need fun
while they cruise on waves; plus being able to experience marveling aquatic life, the
development of the yacht ensured the exploration of the market potentiality (Luxatic, 2017).
Marketing Analysis and Research Techniques
i) SWOT Analysis:
This is a research analysis technique used to conduct the subject’s strengths, weaknesses,
opportunities and trends. We shall, therefore, conduct a SWOT analysis for the identified vessel.
In the table highlighted below, Solar Dream’s current gaps regarding the marketing mix is