Plastic Recycling Marketing Plan

This assignment focuses on creating a comprehensive marketing plan for a plastic recycling business. It delves into market research, identifying the target audience, outlining marketing strategies, and detailing the financial aspects of the operation. The plan encompasses various elements such as product differentiation, pricing, promotion, distribution channels, and a cost analysis. Additionally, the assignment emphasizes the importance of sustainability and ethical practices in the recycling industry.

MARKETING PLAN

TABLE OF CONTENTS
1. Current Situation..........................................................................................................................1
2. Objectives....................................................................................................................................1
2.1 Financial objective................................................................................................................1
2.2 Marketing objective..............................................................................................................1
2.3 Sustainability objective.........................................................................................................1
3. Target Market...............................................................................................................................2
4. Marketing Strategies....................................................................................................................2
4.1 Positioning............................................................................................................................2
4.2 Product or offering................................................................................................................3
4.3 People....................................................................................................................................3
4.4 Process..................................................................................................................................3
4.5 Physical evidence..................................................................................................................3
4.6 Price......................................................................................................................................4
4.7 Placement or distribution......................................................................................................4
4.8 Promotion..............................................................................................................................4
5. Marketing Implementation...........................................................................................................4
6. Budget..........................................................................................................................................5
7. Evaluation and Control................................................................................................................6
8. References....................................................................................................................................7

1. Current Situation
Nowadays, in the society and country pollution taking a huge place which creates
negative impact on the health system of a nation. Further, issue of this particular situation arises
due to several things like noise, plastic, carbon, chemicals etc. The present plan is on the basis of
recycling wastage plastics and reuse them. From the majority of industries and business, wastage
plastics came with a huge quantity. Due to this, level of pollution enhances where the need of
recycling of plastic has become unavoidable. The present proposed marketing plan is prepared in
order to provide recycling services to people and in order to decline pollution level in the market.
2. Objectives
When a company or person is going to make any kind of plan within workplace than at
the very first and foremost prepared objectives and purposes (Westwood, 2010). For the present
service of plastic recycling, financial, sustainability and marketing objectives are stated below:
2.1 Financial objective
The objective of the present proposed marketing plan in terms of finance is to enhance
net income by 10% at the end of next accounting period. Along with this, increasing revenue
consistently is also another purpose of recycling plastic business.
2.2 Marketing objective
Another purpose is relating to marketing which is to use highly effective promotional
strategies and enhance awareness among people about recycling plastic service provided by the
firm. Further, it will help to enhance brand image among people.
2.3 Sustainability objective
The sustainable objective behind providing services of plastic recycle to the people is, to
make the environment of Australia eco-friendly. Along with this, reduce pollution level which
occurs because of wastage plastics is another sustainable purpose.
Further, in order to meet the above-mentioned objectives related to the financial,
marketing and sustainability, the present plan is to be prepared.
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3. Target Market
When any kind of business or marketing plan is prepared by the company then target
market is selected. Under this, a group of people or customers are targeted by the person or entity
in order to provide products and services. Majority of the wastage plastic comes out from the
industries or business in the country. Due to this particular situation, the target market of the
plastic recycling service will be business and firms who are using plastics. Apart from this,
students of the school mostly throw wrappers of the snacks, chocolates, and drinks anywhere. It
leads to incurring situation of the pollution in Australian market up the certain level (Armstrong
and et.al., 2015). Therefore, school students will be also targeted in the present marketing plan.
The reason is that wrappers and wastage plastic generated by such targeted people will be
declined up to the larger extent. Henceforth, the target market of recycling plastic service will be
businesses and school students.
4. Marketing Strategies
Actions used by the firms in order to promote and sell products and services of the
business are considered as the marketing strategies. Further, various tactics of marketing for the
plastic recycle business are stated below:
4.1 Positioning
A particular thing which leads to creating an effective brand position of product or
service in the market is known as positioning. Recycling procedure of wastage goods and
services for making them useful for customers itself is a brand position. The basic reason behind
this is that it leads to creating eco-friendly environment in the country. Apart from this, the
positioning of the plastic recycling service will be less time consuming for recycling such
products (Taghian, 2010). Along with this, by reproducing the higher quality of eco-friendly
plastics the present services will be created brand positioning in the relevant industry of
Australia. Besides these all, with the help of mobile applications also recycle plastic service will
be positioned in the market properly.
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4.2 Product or offering
It is a key concept or element of the marketing mix which helps to the service offered in
order to attract customers. Under this marketing plan, the company will provide a higher quality
of services after completing the procedure of recycling. Apart from this, it will consider the high
level of innovative techniques and vending machines. The reason is that such kinds of
technologies will be supportive to recycle the plastics in an appropriate direction. It is one of the
highly significant aspects of any marketing plan because the product is a base for attracting huge
customers. Moreover, this particular scheme will attract targeted consumers like businesses and
school students for recycle the plastics and create an attractive environment (Vaňa and Černá,
2012).
4.3 People
Another aspect of the marketing strategies is people associated with the proposed services
in whether direct or indirect manner. Key people of the present service will be managers, labors,
technical employees, distributors, and customers. When looking at the consumer aspect then
basically two types of people will be focused which are students of school and industries. By
using these all the stakeholders, the proposed marketing plan will be accomplished and above
objectives can be achieved properly.
4.4 Process
Under this process of collecting wastage plastics and recycle them in order to make
useful is involved (Morgan, Katsikeas and Vorhies, 2012). In the proposed marketing plan, the
firm will consider highly innovative vending machines and other significant technologies. These
will be supportive in order to enhance the quality of recycled plastics.
4.5 Physical evidence
When looking at another marketing mix i.e. physical evidence, then packaging of the
recycled plastics will be highly attractive. Along with this, store from where such kinds of
services provided to targeted people will be also attractive. Hence, in this plan packaging of the
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plastics as well as interior design of store both will be attractive which lead to enhance customers
and net income.
4.6 Price
Price is one of the key aspects for which both seller and buyer highly concerns at the time
of offering and purchasing any kind of product or services. In order to provide recycle plastic
services to the businesses and students, cost-plus pricing strategy will be undertaken by the
manager (Wymbs, 2011). Higher the price lead to reducing the purchasing power of the
customers towards this stated service. Hence, by using the cost-plus pricing method charges will
be taken of recycling plastic service.
4.7 Placement or distribution
An aspect of marketing where products and services are delivered up to the customers is
known as placement. In the present marketing plan, recycled plastics will be distributed using
two ways which are like the physical store and online application. Majority of the customers
targeted by this service are businesses and students who generally prefer online application.
Further, avoid going physically and waste travelling time. Hence, online distribution system will
be considered majorly and sometimes physical store as well.
4.8 Promotion
The promotion element of marketing strategies has a pivotal role in each firm which
helps to enhance awareness among people about the service offered. There are basically two
ways involved for promoting goods and services which are like traditional and modern
(Garrigos-Simon, Lapiedra Alcami and Barbera Ribera, 2012). The present service of plastic
recycling targeted to the businesses and students where it will consider modern marketing
techniques. Under this, proposed services will be promoted through several social media sites
and networks, direct e-mails etc. Further, it will create a page on the social media like Facebook
which is highly used by the businesses and students. Apart from this, newspapers will be also
considered by the firm for marketing recycle plastic service.
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5. Marketing Implementation
Once the above overall plan of marketing is scheduled or completed then implemented as
well as executed in the workplace of recycling plastics. In order to implement the plan, manager
go through some effective steps which are stated below:
 At the very first right expectations and objectives will be settled out.
 After setting above aspects, the team, as well as the secure resources, will be built in the
firm.
 The plan which is made is communicated to organization's members.
 In this step, timelines or deadlines to accomplish works along with proper tasks are
selected (Click, 2015).
 Preparing dashboard in order to track the success of the plan.
 Monitoring and evaluating within a specific period of time.
 Employees should have willingness in order to adopt the plan.
 Communicate outcomes or results and on the basis of that corrective actions taken if
required.
6. Budget
The statement which shows that how many financial resources will be required in a
particular plan is known as a budget. For the present marketing plan, the budget is stated below:
Particulars Amount (in $)
Purchase of vending machine 10800
Research of the market 1060
Rent of physical store 2000
Charges for using online application 1200
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Using procedure of plastic recycle 2900
Marketing expenses 1000
Wages to human resources 5600
Distribution of recycled products 750
Other expenses 490
Total cost 25800
7. Evaluation and Control
Once the plan is implemented and executed in the workplace then needs to be evaluated
as well as control. In order to review present prepared plan, key performance indicator and
balanced scorecard will be considered by the analyst (McDonald and et.al., 2011). The reason is
that it helps to identify and analyse all the objectives like marketing, sustainability, and
financials. Therefore, corrective actions in order to achieve such framed purposes of the
marketing plan will be taken in the proper direction.
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8. References
Books and Journals
Armstrong, G. and et.al., 2015.Marketing: an introduction. Pearson Education.
Garrigos-Simon, F. J., Lapiedra Alcami, R. and Barbera Ribera, T., 2012. Social networks and
Web 3.0: their impact on the management and marketing of organizations. Management
Decision. 50(10). pp. 1880-1890.
McDonald, A. M. and et.al., 2011. Using a business model approach and marketing techniques
for recruitment to clinical trials. Trials. 12(1). p.74.
Morgan, N. A., Katsikeas, C. S. and Vorhies, D. W., 2012. Export marketing strategy
implementation, export marketing capabilities, and export venture performance. Journal
of the Academy of Marketing Science. 40(2). pp. 271-289.
Taghian, M., 2010. Marketing planning: Operationalising the market orientation strategy.
Journal of marketing management. 26(9-10). pp. 825-841.
Vaňa, K. and Černá, Ľ., 2012. The marketing audit as a method of the evaluation of the
marketing plan. Research Papers Faculty of Materials Science and Technology Slovak
University of Technology. 20(Special Number). pp. 131-136.
Westwood, J., 2010. How to write a marketing plan. Kogan Page Publishers.
Wymbs, C., 2011. Digital marketing: The time for a new “academic major” has arrived. Journal
of Marketing Education. 33(1). pp. 93-106.
Online
Click, L., 2015. 8 Important Steps to Successfully Implement Your Marketing Plan. [Online].
Available through: <https://flybluekite.com/how-to-implement-your-marketing-plan/>
[Accessed on 5th October 201
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