Marketing Plan for Folio Books: Attracting New Target Segment (LB5202)

This report details a comprehensive 3-year marketing plan for Folio Books, aiming to attract a new target market segment in the competitive Brisbane market. It analyzes the marketing mix elements including product, price, promotion, place, people, process, and physical evidence, and outlines a detailed activity schedule. The plan includes budget and cash flow projections, demonstrating the potential for profitability with a projected net profit of $150,000. Non-financial resource implications, such as technological innovation and research and development, are also considered. The report concludes with recommendations for enhancing growth and competitive advantage, including strategies to leverage online presence and customer service to drive sales and brand image. The marketing plan emphasizes the importance of reasonable pricing, promotional coupons, efficient distribution channels, and customer service to ensure success in the market.

Running head: MARKETING MANAGEMENT
Marketing Management
Name of the Student
Name of the University
Author note

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Executive Summary
The marketing mix has helped in identifying the different prospects which can be helpful for
the company Foil Book Store to gain competitiveness in competitive Brisbane market. There
are different kinds of chances of generating profitability in the market as it will be affecting
the revenue generation of the company positively. From the cash flow and the marketing
budget of the company, there can be availability of net profit of $150000 which will be
enhancing their effectiveness. Lastly, the recommendations have been provided for
improving their prospects related to growth and improve competitive advantage.

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Table of Contents
4.2 3-Year Marketing Plan Mix for attracting the new Target Market Segment...................3
4.2.1 Product......................................................................................................................3
4.2.2 Price...........................................................................................................................3
4.2.3 Promotion..................................................................................................................4
4.2.4 Place..........................................................................................................................5
4.2.5 People........................................................................................................................5
4.2.6 Process.......................................................................................................................6
4.2.7 Physical Evidence.....................................................................................................6
4.3 3-Year Marketing Plan Activity Schedule.......................................................................7
5. PHASE FOUR – Resource allocation and monitoring..........................................................7
5.1 3-year Budget projections................................................................................................7
5.2 3-year cash-flow projections............................................................................................8
5.3 Non-financial Resource Implications.............................................................................10
5.4 Monitoring and Reviewing............................................................................................11
6. Conclusions..........................................................................................................................12
7. Recommendations................................................................................................................12
References................................................................................................................................14

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4.2 3-Year Marketing Plan Mix for attracting the new Target Market Segment
4.2.1 Product
The Folio Books has been able to target the wide range of audiences with the unique
kind of product related portfolio. From the last 30 years, the company has been successful in
providing the undoubtedly great bookstore with wide range of the magazines along with
different books for the different age groups (Abril& Rodriguez-Cánovas, 2016). The entire
kit related to product which can be sold by the company in the offline and online market
includes the following:
 Books- Selling and buying of the different fiction, education, cooking, drama as well
as architecture along with books related to current events (Aghazadeh, 2015)
 Textbooks- The selling and buying of the different books on the subjects such as
political science or education along with crime and technology
Moreover, the expansion of the bookstore in the online segment can be supportive in
including the proper database of million books which it buys each and every day. The reuse
of the books can be supplied to the people who need the same.
4.2.2 Price
While opening the bookstore in the online market, the companyFolio Books can be
becoming very popular amongst the different book enthusiasts as the diversified kind of
portfolio will be appropriate for increasing their target market. The pricing related policy is
the most flourishing aspect of the business and there can be inclusion of the Reasonable
Pricing Strategy which can be helpful for the company to increase their market share (Blut,
Teller&Floh, 2018). The respective strategy of pricing will keep the brand blooming as well
as thriving in nature.

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Moreover, on the different orders which are placed by customers over $35, the
shopping and delivery will be free in case of buying or renting the different books
(FoilioBooks.com.au, 2019). The prices which will be set for the different commodity will be
reasonable that will help the new target market to acquire more success. There can be
inclusion of discount pricing strategy which will be applicable to the loyal customers present
in the market that will increase their sales and brand image in an efficient manner (Bruni,
Cassia&Magno, 2017). In addition, there can be inclusion of several occasions wherein it will
be allowing the different customers to increase the product sales and it will be ultimately
resulting in larger number of revenues for the organization.
4.2.3 Promotion
As to encourage their own vision and mission of the company, the Folio Books can be
developing the strategic plans. The main aspect of the promotional policy is related to
encouraging the gift related coupons amongst the different customers who are the new target
segment. There are different vouchers which will be made available by Folio Books such as
of $5, 7, 9 denominations that can be utilised by the customers that can be working as the
perfect gift for the friends or the family members (Fan, Lau& Zhao, 2015). In addition, the
introduction of the online book store can be helpful for customers in shopping online with
proper convenience (Fuchs&Köstner, 2016).
For the introduction of the online stores of Folio Books, there can be extensive
advertisement as well as affiliated networks that can assist the brand in reaching new heights.
The other promotional aspects of the company will be including free shipping, providing best
type of choices in new and used kind of products. Lastly, there can be the other major
program which can be introduced by the company wherein the different individuals earn
commission. In such scenario, the individuals need to affiliate themselves with program and

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promote their website. When the transaction will be made from the link which is the
customized one, it will be providing the individual commission (Hanssens& Pauwels, 2016).
4.2.4 Place
It is the appropriate teamwork that has helped the company to reach the new heights
and made them successful. In the current scenario, the staffs working with Folio Books are
trained and supportive who are suitable in providing proper instructions and guidance.
However, with introduction of online store, there should be introduction of new and proper
distribution channel to supply such products to the customers (Hasan& Ali, 2015). The
company can introduce different offices in different central joints wherein the staffs will be
hired for handling the online transactions.
Additionally, while introducing the online book delivery services like e-commerce
business, there should be proper assurance that the different deliveries are being dispatched
within stipulated time frame for avoiding inconvenience among customers. There are
different options related to shipping which can be offered to customers within 24 hours or
seven days. The individuals can easily open the online account on official website of Folio
Books and can perform following activities:
 Confirm, Cancel or refund orders
 Working with customized kind of invoices (Išoraitė, 2016)
 Creation of the customized report related to sales and download the same
 Generation of labels for shipping
4.2.5 People
While introduction of the online services for the customers in the market, the main
people who will be involved in the process are the Sales Staffs to the Managing Director.
Having the right type of people is essential in nature in the online business as it makes the

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business offering more effective. In the online services of selling books, there should be
proper introduction of the special customer service department or robotics need to be
involved that can be helpful in altering the demands of the individuals who are consuming it
and gain competitiveness in the market as well (Morgan, Whitler, Feng& Chari,2019).
4.2.6 Process
In case of Folio Books online service, there will be different options available for the
customers that include the Cash on Delivery, Prepaid or Pay Later options that can be helpful
in attracting large number of customers in the market (Rutz& Watson, 2019). Moreover, in
the online delivery service, there will be various other aspects such as standard delivery or
premium service delivery which will be appropriate for the services.
4.2.7 Physical Evidence
In the physical evidence, there can be introduction of the different kinds of brochure
or bills which are related to purchase of the book. When the customer is paying prior of
receiving order, it can be seen that there can be physically printed bills or through invoice
generated in the mailbox of the customers that can be attracting effective and loyal customers
(Trigeorgis&Reuer, 2017).

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4.3 3-Year Marketing Plan Activity Schedule
Figure 1: Gannt Chart of Marketing Plan Schedule
(Source: Created by author)
From the Gantt Chart, it can be analyzed that these are the different marketing
activities are required to be undertaken by the company for improving their business
activities and improve their effectiveness in the online market. The market research and the
strategies related to marketing are required to be identified effectively which will be able to
generate positive outcomes and it can be delivering proper benefits to the customers.
5. PHASE FOUR – Resource allocation and monitoring
5.1 3-year Budget projections
Budget Table 2019-20 2020-21 2021-22 Total
Marketing Expenses 20,000.00 15,000.00 15,000.00 50,000.00
Revenue Earned 50,000.00 50,000.00 100,000.0 200,000.00

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0
Cash Flow 30,000.00 35,000.00 85,000.00 150,000.00
Return on Investment(ROI) 1.50 2.33 5.67 3.00
Return as a % of Revenue 0.60 0.70 0.85 0.75
From the 3 years budget planning for the Foil Book Store, it can be seen that there
will be possibility of the loss in the next three years that can affect the growth of the company
negatively. With the appropriate kind of budgeting, it will be suitable in creating the
environment of the earning profits, in such scenario, Folio Book Store needs to understand
the competitive business environment which will be generating huge sales and profitability
and earn high level of revenues.
5.2 3-year cash-flow projections
Create a 3-year marketing plan to
attract the selected target market
segment.
Amoun
t($)
Year -1 2019-20
1 Give advertisements in social media 5000
2 To use Face book as a platform to
enhance the visibility
5000
3 Twitter shoud be taken as another
alternative for marketing
5000
4 Linkdn to be used for all professional
people
5000
20000

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Year - 2 2020-21
1 To make a survey through the market
survey organization so as to see the pulse
of the customers
4000
2 To give offers so as to sale the slow
moving stocks
1000
3 To attach with the payment portals like
Google pay, Paytm etc for making
payment easy
10000
15000
Year - 3 2021-22
1 To launch big day sales 5000
2 To give flash sell offers 5000
3 To give benefits of earning points each
time you buy
5000
15000
From the cash flow, it can be seen that the company Foil Book Store will be able to
gain high level of revenues in the market within the next two years in the future by
introducing the online store of selling and buying of books. Moreover, there can be
introduction of the other segments in the online market that can be meeting the various
demands of the customers under one roof and it will be allowing the company to improve
their prospects in the competitive market.
5.3 Non-financial Resource Implications
The different kinds of non-financial resources which are available in the market
includes the technological innovation, research and development, patents along with

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intellectual properties. In case of Folio Book Store, there should be huge implication of the
technological innovation that is to start the online store of selling books, the robotic
innovation is the key element which can serve the needs of the customers at any point of the
time and it will be suitable for growth in the market(Varadarajan, 2015).
In addition, there will be high level of necessity of the research and development
activities which will be enhancing the scope of the online book store and it can be suitable for
invention of new products such as loyalty schemes or the purchase of the books or resale of
the products after generating high level of sales and profitability.
5.4 Monitoring and Reviewing
With the help of the monitoring and controlling, it will be allowing the business of
Foil Book Store in checking the different variance in budget as well as actual. It is essential
as Foil Store can take the necessary actions for meeting the marketing related objectives.
There are different kinds of tools that can be monitored by Foil Book Store can be helpful in
analysing the marketing plan which are described as follows:
 Analysis of the Sales-The analysis of the sales can be one of the major aspects for
identification of the strengths and weaknesses in various areas of the sales. The Foil
Book store can vary from the physical store to the online store and it can be seen that
with the help of the online store, it can be suitable for the company to gain high level
of sales (Wu& Li, 2018).
 Analysis of the Market Share- There are different kinds of competitors present in
the market of Brisbane which can affect the market share of Foil Book store. Foil
Book Store can increase the share in market to above 55% through introduction of
online market as the main aim of the Foil Book store is to regain the control of the

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market and the new target market can be helpful in making the company more
effective which will be beneficial in generating sales.
 Analysis of the Profitability- The respective analysis can be helpful in understanding
the side of cost of marketing as well as profitability of the different products or
market segments as well as sales people. There are three major ratios which can be
used to monitor the profitability in the market which are the research of market for
sales, advertising and sales aspects (Zhang& Wang,2019). These are the ones which
results in determining the emerging trends in the market and in the current scenario,
the online book store is the new trend that can be effective in changing their prospects
and gain competitive advantage.
6. Conclusions
Therefore, from the analysis of the different marketing related activities, it can be
concluded that Foil Book Store can earn huge rate of returns and investment from the
distinctive kind of competencies wherein the different unique strengths of the company such
as the refund and the easiest way of starting the online book store can be helpful in achieving
the superior efficiency, innovation, quality along with analysing the responsiveness of the
customers. Through applying the different competencies, and the different books can realize
the high level of returns. From the cash flow projection of the next three years, it can be seen
that the online store of the Foil Store Business can be helpful in gaining competitiveness in
the market and it will be helping them in improving the returns in contrast to other
competitors.

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7. Recommendations
There are different recommendations which can be incorporated by the company Foil
Book Store which will be suitable for them in improving their sales in the future and gain
competitive advantage.
Firstly, the company needs to open an official website which will be working as the
start of the online book store business. Most independent bookstores attract more customers
through the proper usage of social media networks. The Instagram and Facebook offers the
most significant strategy for online bookstore marketing which will be increasing their sales
by 10% in the next three years.
Secondly, the Search Engine Optimization is the other major aspect which needs to be
adopted by Foil Book Store as it can be applied by the customers and they can have the idea
regarding the types of books which are offered by them. The usage of website to get the
entire store in web searches, it will rank it in higher level and it will be reachable to the
different target audiences.
Thirdly, there can be different events which can be adopted and incorporated by the
company Foil Book Store which will be effective in making them understand the entire rules
and policies of the online store. In such scenario, the sales and revenues of the company will
be increased and the store will be getting attractive in the next two years in an easy manner.

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