Marketing Plan Report: CX664801, Auckland International Campus

This report presents a detailed marketing plan for Excelsior T-shirts, addressing various aspects of market planning and control. It begins with an introduction to marketing planning, its objectives, and the importance of strategic market analysis. The report then focuses on Excelsior T-shirts, defining the target market, setting marketing goals, and formulating strategies. It includes market research, competitor analysis, and the identification of internal strengths and weaknesses. The plan covers market objectives, market positioning, and pricing strategies, including price bands for different divisions. The report further discusses the marketing mix, promotional strategies, and a detailed program schedule. Financial analysis, including cost calculations and a budget summary, is provided. The report also includes a reflection on the learning cycle, referencing Kolb's Learning Cycle, and concludes with a list of references.

Marketing Planning
Marketing Planning
Student’s Name
University Affiliation
Professor’s Name
Date
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Marketing Planning
Part A
Introduction
Marketing planning is the process of studying either one or more marketplaces that are potentially
interesting in order to decide how a business can be complete optimally in them. It helps to strategize
potential marketplaces which will lead to an increase in sales and raise profit margins of the
company. Objectives of market planning include the following:
 Helps in predicting and diminishing upcoming uncertainties. The main purpose of market
planning is to link the break between its desired forthcoming position of the company and the
present position. It gives possible risks so that the company gets prepared.
 Helps in togetherness. For a business to be successful, efficient and effective communication
between different departments is very necessary. This improves quality and efficiency o work.
 Useful in control. All activities of an enterprise can be controlled by marketing planning. Proper
marketing will help to set up objectives, results of performance and comparison are made with
standards that are pre-determined.
 It is very useful in satisfying consumers fully. This is done by the company by supplying goods
and services regularly at a realistic price.
 Useful in improving the efficiency of employees by setting separate goals and objectives.
 It helps in upholding healthy antagonism within the enterprise.
Assignment Task part A
Excelsior T-shirts. The target market for this apparel is people of all ages and sizes. The
customer has to click on the color, gender, style, and size. Marketing this brand is easy for it targets
several groups unlike some which are only restricted to gender, age, and other underlying factors.
There is a wider market for this. Because of the extended market, maximizing profit can be easily
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Marketing Planning
achieved.
Formulating marketing goals on the basis of target customers. These will strengthen and geared
team members. Major marketing goals include the development of the market that is, selling
products to new target markets. Improved market penetration that is, selling more products to
already existing customers. The goals can either take long term to implement. They should have a
time frame and clear for achievement. The strategy should be measurable and practical. If there is
any amendment caused by changes in the external market, changes must be made. Expected
external changes include new technology, competitor and state laws. Market objectives include
the following:
 Market research. Need to collect all data and information regarding the market. This includes
social trends, size, and growth, demographic and social trends. This will help in keeping
track of the strategy of the marketing strategy.
 Checking on Potential customers. This can be achieved by using research of the market
analysis. This will helps in identifying the needs of the customers. This will tell their buying
patterns, what they buy, where they buy and how they buy. Reviewing regularly helps in
checking the trends to avoid objectives becoming obsolete. While trying to connect with new
customers, assurance of keeping existing ones is kept.
 Identify competitors. Identify their supply chain, products, marketing tactics, and their
pricing. Use this to overtake competitive advantage, what differentiate from a competitor.
Identify weaknesses and strengths to help increase performance to outdo the competitor.
 Testing of ideas. Testing of ideas, doing online research and conducting other several pieces
of research will help in reaching the goal.
 Market position strategy refers to the consumer's point of view of a particular product or
brand in relation to opposing products or brands. It is a process of instituting the identity or
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Marketing Planning
image of a product or a brand so the customer perceives in a certain positive way. Examples
include the following:
 Need-based positioning. This positioning arises when the needs are only addressed in a
particular segment. This type of positioning helps in serving most of the requirements of
specific consumers.
 Value-Based positioning. This type of positioning is found on the option of a brand or
service.
 Accessed based. This type of positioning is achieved by serving a particular small
segment.That is serving customers categorized in one place.
The price band is a method used to set value for which seller demonstrates lower and upper-cost
limit between which consumers are in position and can place orders.It is used when the firm
wants to discover the prices of products. The lower limit is the band of the bottom and the upper
limit is called the top band. It enables an organization to predict the price of how much money
investors are in a position to spend.
The setup process for price bands
 The standard Price band is used as the main price list
 Generate additional widespread price bands for each and every price list
 Come up with partial price bands for promotional and special prices
 Select the band which every customer applies to
 Add stock items to limited price bands
 In each price band, enter the price for a stock.
The advantage of the price band
It helps to understand and determine changes in the price of the products. It will help to
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Marketing Planning
adapt to market changes and make any necessary changes. It will also to take advantage of
each situation regardless of low prices.
The advantage of the price band
The price band is never enough by itself. Sometimes, even after doing market research,
information varies from firm to another. It can bring different perspectives to different
firms. It can either bring positive change or negative change depending on the analysis of
the firm. As a result of this, unfair competition may result.
Recommendation
Price band analysis is very useful for any company that is struggling to improve the
performance. This method allows the company to evaluate pricing effectively and
efficiently and all other matters relating to the company. To win this, the company must
remain vigilant and up to date prices of other competitors in the market.
Apparel for Retail Division
The total cost of the product=fixed cost +Variable cost
=$460,000+$18.50
=$460018.50
Unit cost =Total cost/Number of units
=$460018.50/$46.00
=$10000.402174
Price band =unit cost*price range
=$10000.402174*$15
=$150006.03261
Corporate Apparel Division
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Marketing Planning
The total cost of the product=fixed cost +Variable cost
=$320,000+$19.50
=$320019.50
Unit cost =Total cost/Number of units
=$320019.50/$60.00
=$5333.658333
Price band =unit cost*price range
=$5333.658333*$15
=$80004.875
Online Sales
The total cost of the product=fixed cost +Variable cost
=$365,000+$60
=$325000
Unit cost =Total cost/Number of units
=$325000/$125.00
=$2600
Price band =unit cost*price range
=$2600*$5
=$13000
Suggested proximal mix
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Marketing Planning
It is one of the primary elements of the marketplace mix.It includes the famous four Ps.These are the
place, product, price, and promotion. These comprise of sales promotion, advertising, personal selling,
direct market publicity and exhibitions, event marketing and trade shows. This strategy is the best for it
will realize customer wants. Research of the market will guarantee the firm realize the needs of the
customers and aids in coming up with the best goods and service to meet customer’s needs. After doing
market research, the best time to do a promotion in the mid-six months period. During this period
consumers will have gotten the idea of what the product or service in question is all about. This will
bring in new customers, bring customers from competitors, get existing customers buying products in a
more different way from previous, and kindle business in the period of the low season. It will also help
in the preparation of incentive. In addition, it will help in planning what to be achieved at the end of the
marketing period.
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Marketing Planning
Programme and Schedule
Objective: Market share of Excelsior brand clothes
Step Description Start Finish Budget
1
Marketing strategy 01/April 15/April &
2 Product introduction 16/April 01/May &3.50
3
Distribution 17/May 30/May &15.50
4
promotion 01/June 17/June &20.50
5
Expected results and
Financial analysis
18/June 01/July &35.60
6
Contingency plans 02/July 15/July &30.4
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Marketing Planning
Programme and Schedule
Objective:
Step Description Start Finish Budget
1
Situation analysis 16/July 25/July &3.5
2
Market analysis 26/July 30/July &4.0
3
Market segment by age 01/August 10/August &10.0
4
Watch sales by region 11/August 15/August &3.8
5
Competitive analysis 16/August 25/August &15.0
6
Company analysis 26/August 15/September &20.0
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Marketing Planning
Worksheet Six
Budget Summary (Estimates of Results)
Month Product Gross
Sales ($)
Cost of
Sales
Contribut
ion
April
promotion 45.50 20.50 25
May Situation analysis 7.5 3.5 4
June
Market analysis 9.0 4.0 5.0
July
sales by age 39.50 10.0 29.50
Augus
t
sales by region 13.0 3.8 9.2
Septe
mber
Company analysis 35.0 20.5 11.45
Control system you will put in place to ensure that the objective is achieved
Profitability control
This is the best control system for it will tell the profitability of the firm's territories, products, trade
channels, and market segments. This will examine whether the company is making losses or profits. Its
major responsibility depends on the market controller. The firm has to measure the productivity of their
products, customer groups, order sizes, and annual plan control. Its duration is attached to a length of
marketing costs analysis and sales validity. It consists of three major parts: Identification of functional
expenses, conveying of functional expenses to the entities that are responsible for marketing and lastly
preparation of income statement for every and each marketing entity.
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Marketing Planning
Part B
Reflection on The course
Reflection Worksheet
Kolb's Learning Cycle
Kolb's Learning Cycle is one of the major theory which claims that we learn from our experience that is, on
everyday situations and basis and life experiences. Besides, it also focuses and reflects it as a part of
integral for learning purpose. The progression of learning trails a cycle or pattern comprising of four stages
Kolb (1984). One of them, Kolb refers to it as 'reflective observation'. These stages are shown below:
Plan(having conclusions in mind)
Reflect (think of what you did) Conceptualize (make generalizations)
Experience(put something into actions)
Stage one (Experience)
Experiences are all over in this life that we can easily learn from. It ranges from home, work, school or
everywhere you go. There are several and numerous activities for all of us to "jump-start the cycle of
learning.
Stage two (Reflect)
This involves generating ideas concerning what we have experienced and done. Very many people are
gifted on this while a number have to train them to become expert in reviewing their challenges and maybe
recording them.
Stage 3(conceptualize)
This involves coming up with new ideas about our daily life experiences. It is all about breeding
hypothesis basing on the meaning of life.
Stage 4(Plan)
During the active trailing stage of the learning cycle, we efficiently test the hypothesis we breed. In the new
experience basing on this will either accept or deny this hypothesis. Our new experiences will either
support or challenge these hypotheses.
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Marketing Planning
In conclusion, most people learn from experience. Life involves a lot of challenges which can teach
everybody through experience.
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