LB5202 Marketing Plan: Folio Books' Online Market Strategy

This report provides a detailed marketing plan for Folio Books as it ventures into the online market. It begins with an executive summary outlining the report's objectives, which include a competitive analysis, primarily focusing on Amazon. The report then delves into goal setting, including a corporate mission statement and SMART objectives for the new online store. A thorough situation review, including a SWOT analysis, examines Folio Books' strengths, weaknesses, opportunities, and threats. The report further analyzes the current marketing strategies and target market, followed by a competitive positioning analysis. Strategy formulation includes the definition of SMART objectives and the identification of a new target market. The core of the report is the marketing plan mix, detailing strategies for product, price, promotion, place, people, process, and physical evidence. Resource allocation and monitoring are also discussed, along with a financial plan. The report concludes with recommendations and references to support the proposed marketing strategies, including attractive designs and Porter's generic strategies to enhance market share and achieve the goals outlined in the plan.

Marketing Management

MARKETING 1
Executive Summary
The main motive of this report is to learn the concept of marketing plan. In this paper, market
plan is developed for Folio Book as it enters the online market to sell the books. In this report,
the competitive analysis has been done. It has been found that the Amazon is the main
competitor of the company that delivers the similar services to consumers. In this paper, the
marketing plan is prepared by using the 7 P’s such as price, place, promotion, people, physical
evidence, product, and process. The marketing plan is designed to attain the SMART Objectives.
The Gantt Chart represent the monthly activities to spread the online business of the company.
At the end of the report, the porter’s generic strategies, attractive designs are given as
recommendation to the company to attain the market share.

MARKETING 2

MARKETING 3
Contents
Introduction.................................................................................................................................................3
Phrase One- Goal Setting............................................................................................................................3
Corporate Mission Statement..................................................................................................................3
New Target Market Goals.......................................................................................................................3
Phase Two- Situation Review of Current Folio Books Market................................................................4
Description..............................................................................................................................................4
SWOT analysis........................................................................................................................................4
Current marketing strategies and target market.......................................................................................5
Competitive positioning analysis.............................................................................................................8
PHASE THREE – Strategy formulation and target market segmentation...................................................9
SMART objectives..................................................................................................................................9
New target market...................................................................................................................................9
Marketing Plan Mix...............................................................................................................................13
PHASE FOUR – Resource allocation and monitoring..............................................................................15
Marketing Plan Activity............................................................................................................................15
Financial Plan............................................................................................................................................16
Conclusion.................................................................................................................................................17
Recommendations.....................................................................................................................................17
References.................................................................................................................................................19
Appendix...................................................................................................................................................22

MARKETING 4
Introduction
Marketing Plan is a business document outlining the marketing strategy. It covers the
variety of marketing related details such as goals, cost and action steps. In this paper, the
discussion is made on marketing plan (Kotler, Burton, Deans, Brown, & Armstrong, 2015). The
main purpose of this report is to understand the concept of marketing plan. In this paper, the
marketing plan is prepared for Folio Books. Folio Books is the books store that offers the wide
range of books. Now, the book store wants to expand their business online to provide the
services to large number of consumers. The marketing plan of Folio Book is prepared by
analyzing the market environment.
Phrase One- Goal Setting
Corporate Mission Statement
The mission of Folio Books is to provide the books of great writers in whole world.
Vision of the store is to spread the services in whole world to spread the knowledge and
productive information.
New Target Market Goals
Folio Book Store sets the new targets while establishing the online store. Before establishing
the business, the store has to sets the SMART Goal. The new targets are discussed below:
 The main goal is to spread the knowledge and information about the world.
 Another goal is to achieve the profits by the particular month
 Folio Book store is to earn approximately $20000 in sales by Year 3.

MARKETING 5
 Increasing the viewers of readers or buyers per month (Noe, Hollenbeck, Gerhart, and
Wright, 2017).
Phase Two- Situation Review of Current Folio Books Market
Description
Folio is owned by the London publisher, which was incorporated in 1971. This edition
features special binding and finally includes artist- commissioned and the researched artworks.
The main goal of folio is to produce editions of world`s literature in an worthy way (Folio
Books, 2019).
SWOT analysis
Strengths Weaknesses
Strengthened of local store network
Wide variety of fiction, general books
and non-fiction in several languages
such as Chinese, English, Malay
The store has a relaxing ambience for
new reading and finding experience for
the book lovers.
Attractive colouring walls and also have
different department to provide the
books
Different shelves for discounted books
The company has been expanding by
bringing several issues such as customer
power because of lack of market research
Effected by IT (information technology) and
internet where the market for traditional
books and papers will not be bright enough
to distribute the resources
Electronic business has been taking more
and more position in the modern era
(Phadermrod, Crowder, & Wills, 2019).

MARKETING 6
to attract the consumers.
Opportunities Threats
With development of internet and
information technology, traditional book
store faces big opportunities while
developing in new market
Traditional management system has the
chance to create, and become efficient and
effective
Opportunities for popular organisation will
enhance and affect Asian area by
conducting and participating in book
festivals
The store lacks consumer confidence in
order to buy the online system
Increased transportation cost by the courier
company
Monopoly in the online business as being
held by the players
Current marketing strategies and target market
Earlier, Folio Book store is physical store that offers the wide range of book services to
consumers. The current marketing segment of Folio Book Store is
Types of
segmentatio
n
Segmentatio
n Criteria
Folio Book target segment
Books Services Favourable
Operating
Area of
services

MARKETING 7
System
Geographic Density Urban/rural Urban/rural Urban/rural Urban/rural
Age All Age 18-30 20-35 20-45
Demographic Gender Males and
Females
Males and
Females
Males and
Females
Males and
Females
Life-cycle
Stage
Bachelor;
Married;
Couples;
Children;
Students:
Families:
Youth;
Old age
Bachelor;
Married;
Couples;
Children;
Students:
Families:
Youth;
Old age
Bachelor;
Married;
Couples;
Children;
Students:
Families:
Youth;
Old age
Bachelor;
Married;
Couples;
Children;
Students:
Families:
Youth;
Old age
Income High earners
Middle Class
High earners
Middle Class
High earners;
Middle Class
High earners;
Middle Class
Occupation Professionals,
students;
Professors,
Students
Managers,
Managers,
Executives,
Professionals,
students;
Professors,

MARKETING 8
executive and
managers
Professionals,
Professors,
students;
Professionals,
Professors,
students
executive and
managers
Behavioural Degree of
Loyalty
Strong
loyalty;
Strong
loyalty;
Strong
loyalty;
Strong
loyalty;
Benefits
sought
Knowledgeabl
e
Advance
intelligence
Knowledgeabl
e
Knowledgeabl
e
Knowledgeabl
e
Advance
intelligence
User status Potential, and
new readers
Potential, and
new readers
Potential, and
new readers
Potential, and
new readers
Psychographi
c
Social class Middle and
upper classes
Middle and
upper classes
Middle and
upper classes
Middle and
upper classes
Lifestyle Succeeded
Explorer;
Educated
Succeeded
Explorer;
Educated
(Aghdaie, &
Alimardani,
2015).
Succeeded
Explorer;
Educated
Succeeded
Explorer;
Educated

MARKETING 9
Competitive positioning analysis
Folio Books has to analyze the threat of competitors while enter the market. It is required
to analyze the competitive companies and their strategies so that it can provide the services to
consumers.
High Cost
Low
Quality
High Quality
Low Cost
AmazonPeachpit
Folio Books

MARKETING 10
There are various book stores that provide the similar services to consumers. The famous
online book stores are Peachpit, Valore Books, Alibris, and the others that provide the wide
range of books to the people for increasing the knowledge. The main competitor of Folio Book is
Amazon as it provides the wide range of books to the people. Amazon is the online book seller
that sells the books in the whole world. The threat of competition is high for Folio Books while
establishing the online book store in the market (Zhukova, 2017).
PHASE THREE – Strategy formulation and target market segmentation
SMART objectives
The SMART objective can be-
 Targeting 20000 viewers per month
 Achieve sustainable profits in a year
 Enter the new market every month by organizing campaigns to promote online store
 Invited authors to sell their books to increases the wide range of books in store to attract
new viewers in every six month
 Earning $20000 in million in sales by year 3
 Two potential new target segments with justification of one purpose plan
New target market
The store will target current college students so that it can fill the positions in the regional
campus marketing, advertisement, customer support, sales, and other critical operational
positions (Wheelen, et. al, 2017).The company can mainly target those consumers who are

MARKETING 11
already users of the company. The company has to target the same consumer with the new target
people. These are discussed below:
Segmentation Type
Segmentation Criteria
Target Customer
Segment
Geographic Region Folio Book is
available in all over
the world. The main
target are those
market where the
large number of
people lives together
or have the large
number of youngster
Such as India and
China.
India and China are
the countries that
have huge number of
teenagers
Density Urban/ rural areas