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The Marketing Plan Assignment - Prom Coast Ice cream and Sorbet

   

Added on  2020-10-22

11 Pages2968 Words196 Views
PROJECT

Table of ContentsINTRODUCTION ..........................................................................................................................3EXTERNAL ANALYSIS ...............................................................................................................3Macro environmental trend analysis ..........................................................................................3Micro/ Industry analysis .............................................................................................................5TARGET MARKET .......................................................................................................................8INTERNAL ANALYSIS.................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTION Marketing of the products and services is required top promote the product and attractcustomers towards the business for the success and growth of the organisation. Marketing planassist in scheduling the activities related to the promotion of products to successfully promote theproduct in the target market. The business is related to ice-cream and sorbet making which issituated at Toora in Victoria, Australia which was started in the year 2016. The name of thebusiness is Prom Coast Ice cream and Sorbet which is involved in ice-cream manufacturingindustry. In this project, It will contain the information about internal and external factors whichmay affect the business operations. Moreover, it will provide understanding of the target marketof the business. The company provides various products which consist of dairy, Non - dairy andgluten etc. The business is facing intense competition, expensive regulation cost etc. Themarketing plan is important for this business it assists in attracting more customers towards thebusiness. It consists of components of marketing mix such as price, place, promotion andproduct. With this P's of marketing the business is able to identify their success rate and canattract customers towards the products by focusing on these elements of marketing.EXTERNAL ANALYSIS Macro environmental trend analysis Environmental analysis is important for business to identify the business opportunitiesand threat which may have their impact on the business operations. The Pestle analysis assist inidentifying the macro environmental factors which have their impact on the organisationactivities. Political trends : Political factors are those which are related to the governmentintervention in the business activities. It means if there are any changes in thegovernment policies, taxation polices etc (Kerzner & Kerzner, 2017). then the ice creamindustry will be affected at large. For example, changing taxation rate in this industryhave their impact on the business operation due to which the profitability of theorganisation is reduced with the increase in the taxation rate. The regulation which areimposed on this industry have their negative impact on the business operation. Economic trend : It consists of economic factors which includes, inflation ,demand andsupply, interest rate etc. as if there are any changes in these factors the ice creammanufacturing industry will be affected. It is identified that the consumer price of the

ice cream and Sorbet is increased which is beneficial for the growth of the industry asconsumer spending increases the demand for the ice cream products provided by thiscompany. For example, if there is increase in inflation than the price of the ice creamproducts will rise due to which the demand for the products provided by this companywill reduce and thus it will have negative impact on the business whereas on the otherhand if there is economic stability in the market which will be beneficial for thecompany has will perform its operation effectively and efficiently (Larson & Gray,2017). Also, the business operations are affected due to seasonal changes as customersare less attracted in winters as compared to summer towards ice cream. Social trends : It consists of trends such as change in lifestyle, demographics, behaviourand attitudes which have a significant impact on the business operation. Changes in thesetrends have impact on the company profitability and customer base. Changes incustomer preferences to healthy products is the trend which is emerging. Customersrequires healthy products to consume safe products for their health safety. Prom CoastIce cream and Sorbet provided coconut ice cream which is healthy for the consumptionof the customers and thus it attracted most of the customers towards the brand.Technological trends : The technological trends are increasing with the advancement intechnology there have been increase in using the various website which assist inattracting the customers toward the products and services. Technology assist inproviding better packaging and seal system. Prom Coast Ice cream and Sorbet is usingthe Facebook and other social media sites to attract customers toward their ice cream. Ifthe company is using the latest technology for the business operation than it will have apositive impact on the business and vice versa.Environmental trends : Growing trends of environmental friendly products have theirimpact on the business activities. With the change in climatic condition the productsprovided by the ice cream industry have their impact. It is required that the organisationinvolved in the ice cream industry must perform their activities without harming theenvironment and use the machine that consume less energy to reduce the negativeimpact on the business operations.Legal trends : There are various laws and legislation which have their impact on theactivities performed by the organisation involve din this industry (Schwalbe, 2015). For

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