Agrimin Marketing Plan: MKTG6002 Assessment of Marketing Strategy

This report outlines a marketing plan for Agrimin, a Western Australian mineral company. It details the company's mission, vision, and objectives, emphasizing the development of an effective marketing framework to gain a competitive advantage. The plan includes a marketing mix analysis (product, price, place, promotion, people, process, physical evidence) tailored to Agrimin's operations. It also covers segmentation, targeting, and positioning (STP) strategies, focusing on geographic, demographic, behavioral, and psychographic segmentation to identify and reach target customers effectively. The report further includes action programs derived from these strategies and a SWOT analysis to evaluate Agrimin's strengths, weaknesses, opportunities, and threats, providing a comprehensive roadmap for achieving the company's marketing objectives. Desklib offers similar documents and study tools for students.

MARKETING PLAN

Table of Contents
MARKETING PLAN Table of Contents......................................................................................1
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
Task-1..............................................................................................................................................1
Marketing plan.............................................................................................................................1
Marketing mix.............................................................................................................................2
Segmentation, Targeting and Positioning....................................................................................3
Action programmes.....................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing plan is related to those plans which are developed by the organisation for the
development of company in the market and to achieve some task and projects. Marketing plan of
the organisation is based on the future approach because the main aim to develop marketing plan
by the organisation is to achieve future goals ands objectives of the organisation. The marketing
plan of the compony has many heads such as executive summary, mission, vision and objective
of the organisation (Dion and Sitz, 2020). It is required for the company to develop effective
marketing plan because it enables the management of the organisation the direction for work and
also its employees. It provides road map to the organisation. There is a cut throat competition in
the market and many big players are present in the same industry which provides extensive
competition to one another. This competition in the market minimises the profit margins of the
company. Effective marketing structure of the company is the only solution of this problem.
Marketing stimulates the demand of the product in the market which helps the company to gain
competitive advantage of the industry. The organisation which is chosen here to demonstrate this
report is Agrimin. This report states a well-established marketing plan which the company want
to conduct in their near future. The well systematic report relate to the marketing mix are stated
in this report. The concept of segmentation, targeting and positioning are well defined in this
project.
About the company
Agrimin limited is a western Australian based mineral company which deals in different
types of minerals and chemicals. Agrimin has strong relationship with the local persons and
landowners of the area where the amount of potash is located.
Task 1
Marketing plan
Executive summary
The management of the Agrimin has includes many well experienced and well qualified
executives and managers which perform every responsibility with great accuracy. The top level
executive of the company always try to make the company more successful and organised. The
top level executives of the company wants to expand the operations of their business to earns
huge revenue for the organisation.
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Mission
The mission of the organisation is to become leading mineral and chemical company of
the world having multiple operations in different types of countries
Vision
The vision of the company is to provide useful mineral to their customers their loyalty.
The main aim of the company is to serve different types of customers with their chemicals and
minerals.
Objective
The overall objective of the company is to develops the effective marketing framework in
the organisation which helps the Agrimin to gain competitive advantage in the industry.
Marketing mix
Marketing mix is a concept of marketing strategies that a business organisation needs in
order to stand in a market and accomplish its business goals. Agrimin uses this tool of marketing
to to get clarification of what to produce, for whom to produce (Genoveva and Siam, 2017). It also
helps in understanding the company with the needs of customers, promotional activities, market
place and other factors of marketing. Description of marketing mix with the concept of Agrimin
are as below:
 Product: With the help of this tactic, Agrimin describes its product to be produced to
meet the core needs of target audience. Agrimin gets clarification of manufacturing
mineral products for sheep and cattle by targeting customers from cattle farms, sheep
farms, etc.
 Price: Agrimin uses competitive based strategy of price to determine its product price in
market. This strategy works by determining price of products set by competitive rivals in
market. It is either done by slightly increase in price range or decrease in price of a
product as compared to its competitive rivals.
 Place: Agrimin sells its product not only by setting up premises in market but also by
launching websites, android/apple applications, catalogue, SEO, etc. Company uses its
own personal website for trading products on digital platforms.
 Promotion: Agrimin uses different type of promotional marketing techniques which
includes traditional marketing, social media marketing, advertisement, PR etc. that helps
in connecting with customers beyond geographical area.
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 People: Agrimin has a number of employees, trainers, managers, designers, web
developers, sales persons to represent consumers, etc. Employees are well trained to
solve consumer queries regarding products and problems faced. Digital team works on
tracking sales and connecting audience of digital sites.
 Process: Agrimin is involved in the multi process which includes laboratory,
manufacturing, warehousing, etc. Company uses the process of business partnering where
company combines with its suppliers and farmers and shares a portion of profit with them
in return.
 Physical Evidence: Agrimin just does not have physical appearance as stores and
premises but also has a branding as a manufacturer of mineral products and dairy
products in the market of UK. Agrimin also operates with distribution of its products to
different distributers around UK.
Segmentation, Targeting and Positioning
STP Analysis is the framework that scrutinize product and services with communicating
behaviour for benefit of specific customer segment. It has three steps that helps the company to
connect with specific customer segment that saves time and money. Agrimin is a cattle feed
company that use this framework for selling the product to their specific customer without
wasting time on other (Munandar, Oktaviani and Angraini, 2020). This has some steps to connect the
customer that are discusses below:
Segmentation: first step of this model is segmentation that main goal is to create various
segment on the basis of company product. Agrimin company produce cattle feed that is good for
cattle fertility then company identify that customer who have cattle and do business of dairy
products. This strategies has four segments:
 Geographic segment: In this segment, audience based on country, state, region and
province that help the company to decide among them.
 Demographic Segmentation: In this segment, people are divided on the basis of gender,
age, population, education, etc.
 Behavioural Segmentation: In this segment, people are dividing on the basis of
interaction of customer on areas. It includes what they purchase, how often they buy,
what they browse. Agrimin is target on behavioural segment because their only customer
is those who have cattle.
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 Psychographic Segmentation: In this segment, the audience is divided on the basis on
potential of customer such as lifestyle, hobbies, activities.
Targeting: It is the second STP marketing model which main goal is determining the segment
that have decided before and make their desired conversion. In Agrimin, the segment is
behavioural on that basis target strategies are studies:
 Size: In this factor, it is studies that how large the segment is for future growth potential.
In Agrimin the size of customer is large and this product is basic need for customer that
will be needed every time
 Profitability: In this segment, it is considered that the area which are covered by
company give profit or not. In Agrimin, the company is providing diverse quantity of
product in market and that product will always be profitable because better quality of
product that compete the other market. Reachability: Reachability means how can customer reach in product. It is considered
that it is easy or not, because it affects sales of product. Agrimin company is a large
company that have many distributions of channel which provide products to the
customer easily.
Positioning: It is the last step of model, in which company make efforts to make the customer
permanent in the competitive market by providing different benefits.
 Functional Positioning: In this, company provide different function to the customer that
attract them (Scheer, 2019). In Agrimin, company provide the best quality with reasonable
price that is easily available in nearest shop that save the money of customer in
transportation.
Action programmes
Agrimin develops various marketing strategies to expand their business operations and
earns revenue from it. These strategies become action of the company and the brief discussion
related to the same are given below.
 The marketing mix helps the company to enables the customers about the Agrimin’s
product and services in few time.
 The concept of segmentation, targeting and positioning of the Agrimin helps the
company to examine the target customers and the markets through which the company to
positioned their product.
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TASK 2
Marketing plan for Agrimin to meet marketing objectives of the organisation:
Marketing Plan is defined as a strategy that a business follows to advertise and promote
its products and services to the target market for attaining goals of the organisation. It narrates
the operations of business which are engaged in achieving the objectives of company within
predetermined schedule and involves representation of existing position of the business.
Executive Summary:
Within Agrimin, marketing plan is designed to recognize the targeted audience and for
development of strategies to reach out to them. Marketing Plan help the supervisors of Agrimin
in stating marketing goals of company which are lined-up with mission and vision of the
business (Shah, Azhar and Bhutto, 2019). The basic marketing plan for Agrimin includes sales
forecast, budget, situation analysis and distinct promotional strategies.
Vision: To start an innovative potash export industry within Australia and to create a favourable
influence on some of the country’s most inaccessible aboriginal communities by generating
opportunities as well as sustainable economic development.
Mission: Company has a mission of being leaders of the world in the field of controlled delivery
devices, developing the scientifically proven commodities manufactured to the best quality as
well as supported by a valued team of human resources within the organisation.
Objectives:
 To develop an effective marketing framework by 10% in a year which help the company
to gain competitive advantage by producing fertilizer products of high quality.
 To make scientifically developed products by 15% in a year and offering dedicated
support with a committed team of staff.
SWOT Analysis:
It is a tool that is used to measure and analyse the internal and external factors which
impacts the functioning of business within the organisation (Yaghtin, Safarzadeh and Zand, 2020).
Agrimin uses SWOT Analysis for identifying and analysing the influence of external and
internal forces that impacts the performance of their business. The SWOT Analysis of respected
company is explained as below:
Strengths:
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 Increased consistency: Within Agrimin, the automation of the business activities
brought the consistency in the quality of the products and also helps the administration of
the company to adjust themselves according to the demand conditions in the market.
 High skilled manpower: Through successful training and development sessions, the
workforces within the company become highly skilled. The respective organisation invest
a large amount of resources in the training sessions of their employees that makes them
not only skilled but also motivated them to achieve the objectives of the organisation in
an effective manner.
Weaknesses:
 Difficulty in facing challenges: Agrimin has not been able to face the challenges that are
occurred because of new entrants in the market segment as well as lost its small
customer-base in niche market (Wohlgemuth, Getzner and Park, 2017). The respective
organisation has to develop interior feedback mechanism from sales team directly on
ground to overcome from these challenges.
 High unemployment rate: The organisation must invest essentially more amount on the
training and development of its manpower instead of its competitors. This should be done
because the company is having high unemployment rate and by providing training to
them, Agrimin can gain competitive advantages in the industry.
Opportunities:
 Global expansion: It is an opportunity for Agrimin to expand its market at a global level
so that it can increase its market share universally. Expansion in market share and market
segments results in increment of profitability of the company.
 New markets: Opportunities for the development of new markets helps Agrimin in
increasing its efficiency and viability in the company. Managers of respected company
should serve their services by offering some discounts and perks by maintaining a level
of profitability to their targeted audience so that more and more market-base can become
the loyal customers of the company.
Threats:
 Changing buying behaviour of consumer: The changes in buying behaviour of
consumer from online mode could be a threat for Agrimin as well as present physical
infrastructure that drives model of supply chain
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 Pandemic of Covid-19: Economic lockdown during pandemic situation becomes the
threat for company because at the time of pandemic the political system of the respective
country imposed restrictions on travelling. Due to which company faced a down turn in
its business operations which decreased the sales volume of the company.
STP: examples of unique services in travel and tourism industry
STP is a three phase model which helps in finding market segments to target its customer
base for selling products in a way that it can build an image of company. Agrimin use this
marketing model to classify propositions with evolving and serving important information to
capture a large number of audiences and these phases are detailed as follows:
 Segmentation: It is defined as a process which is used to divide the market into segments
of identifiable and distinct group of customers for determining significance of each
market segment. Human resources of Agrimin use this approach to categorise market-
share on the basis of state, region, country.
Targeting: A process in which attractive segments are selected from the stage of segmentation is
termed as targeting. Targeting strategy used by manpower of Agrimin is based on individuals
and households that belong to age-group of 25-50 years for providing fertilizers (Weerawardena,
2018). This helps them to focus on a particular segment of targeted customers within the market-
share.
 Positioning: The last phase of STP model which concentrates on the analysis of
comparison between company's and competitor's product is defined as Positioning. The
strategy used by workforce of Agrimin is value based promotioning strategy. Through
social media, offline and online advertisements, digital marketing, etc, they can promote
their products. They use this process because it helps in determining the position of their
own business as well as it is beneficial for gaining competitive advantage in the market.
Action Plan
The action plan of Agrimin has been based on the 4Ps of marketing mix which is
explained as under:
 Product: The company deals with a huge service portfolio and brings unique products
within the market such as standard fertilisers of high quality with special features. The
company has developed its marketing strategy by expanding the market and offers best
quality products at affordable price.
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 Price: The respected company uses Penetration pricing strategy in which the targeted
audience is attracted by the new and innovative products offered initially at a lower price
by the employees of company.
 Place: Agrimin is situated in Australia and offer its products through an intermediary
channel that is an agent. Managers of the company must think of to expand its business at
other geographical locations and they should offer their products like fertilizers through
online mode also so that it can capture more of its target-base and can easily reach out to
them.
 Promotion: The different ways of introducing and offering standardized fertilizer
products is defined in the promotion element of marketing mix. The existing company
must highlight the unique or special features and benefits of its fertilizers while
promoting it. Human resources of company can promote its products by advertisements,
word-of-mouth, sales promotion.
Forecast:
Forecasting is a significant part in Agrimin while introducing new products or new
market segments. It is done on the basis of analysing present and past information of the
marketplace (Stoychev, 2020). Forecasting not only finds the opportunities in the market but also
prepares the supervisors of the company in facing the challenges that will come in future such as
dearth in resources, infrastructure issues, security and cross-border regulation, etc. Throughout
this stage, an estimated budget can be designed by the respective company that will provide it an
idea for using the resources up to the maximum level. The budget for the same purpose is
designed under:
PARTICULARS Amount(£)
Trainer 200, 000
Equipments 400000
Marketing 50,000
Safety measures 50,000
Total 700000
Control:
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The final stage in marketing plan is to control the activities that incur losses or any fault
within the company. This function of marketing helps in measuring and analysing the
performance with standard goals and if any deviation occur then the controlling function will
takes the correct measures. Within Agrimin Ltd., the managers of company should establish
distinct standards and deadlines for specific projects to ensure that a particular project must be
completed within a set deadline (Wafler and Badir, 2017). Controlling function helps in designing
the standards of performance that helps them in analysing the effectiveness and efficiency of
marketing process within the company. It can extend the sales volume of company along with
maintaining cash flow as well as can enhance the size of customer-base. It will be convenient for
supervisors of company to analyse the feedback of their targeted audience with the help of
controlling function. Hence, controlling is the most significant function in marketing plan for
making a check on errors occurred and takes corrective action to rectify them.
CONCLUSION
It is concluded from this report that the marketing plan is the essential framework which the
company is required to develop for the overall development of their business. This report
concludes well established marketing plan which is developed by the management of the
company contains mission, vision and objective of the organisation. This report concludes
different factors of marketing mix which enables the user’s information related to company’s
different aspects systematically. There are different action programmes which develop due to the
different strategies followed by the organisation.
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REFERENCES
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