Report: Marketing Objectives and Strategy Formulation for Dr. Muscle

This report examines the marketing objectives and strategy formulation of Dr. Muscle, a mobile-based application designed to help users build muscle. The report begins by outlining Dr. Muscle's mission, vision, and business objectives, which include maximizing sales and revenue. The main body of the report then delves into the marketing mix (4Ps) of Dr. Muscle, focusing on their new offline store launch. It details the product (offline training), pricing strategies (competitive pricing), place (prime locations for the store), and promotion techniques (discounts, advertisements). The report concludes by emphasizing the crucial role of marketing in achieving business goals and objectives, and the importance of a well-defined marketing mix for effective communication with the target audience. The report also references relevant academic sources to support its analysis.

SET MARKETING
OBJECTIVES AND
STRATEGY
FORMULATION

Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Marketing objectives of Dr. Muscles.....................................................................................4
Marketing mix of Dr. Muscles...............................................................................................5
CONCLUSION................................................................................................................................7
REFERENCE...................................................................................................................................9

INTRODUCTION
Marketing is a very important aspect for which the business organisations exist in the
marketplace. It is the act through which the goods are sold to customers in exchange of money.
The company uses various marketing strategies for making people aware about the new products
and services or modification in the existing services. Business enterprise which is to be
considered for this report is Dr. Muscle which is a online mobile based application that helps the
people in building muscles and body. This report will explain the marketing strategies and
marketing mix of the new product which was launched by the company.
MAIN BODY
Marketing objectives of Dr. Muscles.
Marketing is the set of defined objectives and goals which are accomplished by the
organisation with the help of relevant strategies. It is the detailed documentation plan which
highlights the different strategies and goals and the manner to achieve them. Such goals and
objectives is required to be consistent with the overall business aims and emphasis must be given
to the marketing team. The business objectives needs to be SMART which symbolises the
specific, measurable, accessible, rare and time bound. It is very important for the organisation to
set a particular objective, mission and vision which will helps as guide and provides a roadmap
in order to fulfil the aims. It explains that where the business is at present and what it must
achieve in future and the manner to work on it. Every business organisation has a set of definite
marketing objectives and those who does not have, such organisations does not sustain for the
longer period of time in the market.
The marketing objectives are created by the organisations when the company is planning
to launch a new product so that it can make people aware about the new products and services
which will boost the sales. Therefore, the new product and service introduced by the Dr. Muscle
is their physical store or offline store where customers can be trained in order to build and
develop their body, loose weights, etc. For this, the organisation has set the mission, vision and
business objectives which are discussed below:
Mission: The mission statement for the Dr. Muscle is “ to provide innovative fitness and
lifestyle programs with the help of friendly and professional workforce who will encourage
people to enhance the quality of their life”.

Vision: The vision statement of the Dr. Muscle is “ to be the premiere medically based
health and wellness facility which will provide innovative and collaborative programs that will
consider the health and well being of the community as the same”.
Business objectives: The business objective of the Dr. Muscle is:
 To maximise the sale of products and services by 10% by end of third quarter of 2019.
 To maximise the revenue from the new launch of product by 2% by the first quarter of
2020.
Marketing mix of Dr. Muscles.
Marketing mix is a very crucial aspect in the business organisation. It is the instrument
which involves placing the right product at the right time and at correct price. This technique will
be very useful for providing the customers the option to choose the products and services. If the
organisation is not using this tool than this will affect the profitability and financial stability of
the company adversely. Each and every element of marketing is has a significant role in the
marketing mix of the company. It will be advantageous for the Dr. Muscles in exchanging and
progression of goods and services. With the help of this, the company will be able to provide
regular supply or goods and services which will also generate the employment opportunities for
the people. This will have a stronger contribution in raising and building the status of the people.
Marketing mix has four elements namely, product, price, place and promotion. All these
elements will be discussed by considering the new product which will be launched by the
company. The new product which Dr. Muscles is planning to launch is their physical showroom
for workout. Earlier the company trains the customers through online application but now the
company is opening their offline store to train the customers. The following is the marketing mix
of 4P’s of Dr. Muscle :
 Product : It is the first constituent of marketing mix which is concerned with the
physical product that can be sold to the customer. The product is one of the most
important element in the business organisation and is used by customers in order to
satisfy their needs and requirements. Therefore the marketing manager of the Dr. Muscles
will place a strong emphasis on defining the product, its importance, benefits, features,
unique selling proposition, level of competition, etc. Therefore, the product which will be
sold is the Dr. Muscle is their offline store where the organisation will focus on providing
training to the male and female so that they can build their body and give it to the proper

shape. They will train properly to the customers who are highly health conscious and
wants to reduce weight quickly. The another important feature of this will be that the
company will also provide proper diet chart to their customers which is required to be
essentially followed by them.
 Price : It is the another constituent of the marketing mix where the company has a strong
focus on devising different pricing strategies. Price is a very important concern for the
customers and they wishes to spend this on the useful products and services. It is the real
worth which the customers gets in exchange of the products and services. The price
factor is mainly described as per the cost of product and the manner in which the
customers are willing and excited to pay. It is one of the important element because
majority of the customers are price conscious and if prices are high then customer hardly
show any interest in buying the product and if prices are low then it is presumed by them
that the product must be of lower or poor quality. Therefore, Dr. Muscle will devise
different pricing strategies for different set of customers. It will devise the competitors
pricing strategies where the price will be set by the organisation by considering the price
of the competitors and it will kept below them. This strategy will help the company in
targeting the customers who compare the prices and services offered by the competitors
and find the Dr. Muscles better.
 Place: This is the another important constituent of marketing mix where the focus is
given on the place where the sale will take place. It determines the suitable channel of
distribution through which the product can be reached to the customer. The place is the
physical location from which the customer can obtain the service of the organisation. For
instance, Dr. Muscle will sell its products and services through online and offline channel
both. Through online they will sell their services of developing body and muscles with
the help of online application while in offline mode they will have their own store in
which different customers will visit and such store will be located in one of the prime
location so that people can easily recognise and access to it.
 Promotion: This is last constituent of marketing mix where the emphasis is given on
communicating with the customers through which they will known with the relevant
products and services. Promotional instruments and tools helps the organisation in
conveying people about the new product of the company or modifications in the existing

products of the company. For this, Dr. Muscle will use different promotional techniques
like discount offers, vouchers, trail session, advertisements on television, radio,
newspaper, digital hoardings, social media, etc.
CONCLUSION
From the above file it has been concluded that marketing plays a very crucial role in every
organisation. Without proper marketing and its strategies no business enterprise can attain the
business goals and objectives. In this report, the marketing objectives are set by the company for
newly introduced product which will help in accomplishing the aims and objectives.
Furthermore, marketing mix is used by the company in order to effectively and efficiently
communicating with the people.

REFERENCE
Books and Journals
Felix, R., Rauschnabel, P.A. and Hinsch, C., 2017. Elements of strategic social media marketing:
A holistic framework. Journal of Business Research 70. pp.118-126.
Frambach, R. T., Fiss, P. C. and Ingenbleek, P. T., 2016. How important is customer orientation
for firm performance? A fuzzy set analysis of orientations, strategies, and environments.
Journal of Business Research.69(4). pp.1428-1436.
Gillespie, K. and Riddle, L., 2015. Global marketing. Routledge.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Nagle, T.T. and Müller, G., 2017. The strategy and tactics of pricing: A guide to growing more
profitably. Routledge.
Thompson, A., Strickland, A. J. and Gamble, J., 2015. Crafting and executing strategy: Concepts
and readings. McGraw-Hill Education.