Comprehensive Marketing Plan Report: Softtech Company Analysis

This report presents a comprehensive marketing plan analysis for Softtech, a technology company. It begins with an introduction to marketing concepts and provides a background of the business. The report then evaluates the macro environment, including strengths, weaknesses, opportunities, and threats (SWOT analysis). It outlines marketing objectives using the SMART framework and explores the Segmentation, Targeting, and Positioning (STP) model. The core of the report details various marketing strategies based on Michael Porter's model (Cost Leadership, Differentiation, Cost Focus, Differentiation Focus) and the Ansoff Matrix. The marketing mix (product, place, price, promotion) is also discussed, along with a promotional budget breakdown. The report concludes by summarizing key points and emphasizing the importance of an effective marketing plan in mitigating risks and achieving business goals. References are provided for further research.

MARKETING PLAN

Table of cover content
 Introduction
 Background of business
 Overview of macro environment
 Marketing objective of business
 Segmentation, targeting and positioning
 Marketing Strategies
 Ansoff Matrix
 Marketing Mix
 Promotional budget
 Conclusion
 References

INTRODUCTION
Marketing is a huge concept associated with activities of buying and
selling of products and services in a business, which further include
advertising, selling and delivering of products to end users (Arasti,
Falavarjani and Imanipour, 2012).
 In this report, efficiency and significance of marketing plan at
Softtech company will be evaluated which will help in pulling
together all it campaigns that may arise over a specific time with
additional information and instructions to measure or monitor

Background of business
 A marketing plan is an operational document of Softtech
Company that outreach and advertise to generate leads and reach
its target market.
Marketing plan provides them marketing research to support pricing
decisions and new market entries as well as tailor and communicate
message to various demographics and geographic areas (Smith, 2012).

Overview of macro environment
Strengths Weaknesses:
Softtech have well qualified and skilled work force
that help in deliver satisfactory services and
software solutions as well as developing market
share. The company is high in social services and
employee well-being which strengthen its
employee relationship.
Research and development capabilities at Softtech
are poor in performance and unable to explore too
much new trends and techniques (Westwood,
2013).
Opportunities: Threats:
Softtech technologies can develop their existing
market by capturing more customers. Although the
company can also invest more in its research and
development department to increase its efficiency.
Softtech technologies have many competitors as
well as threat of other substitutes products and
services.

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The external environment includes all
uncontrollable factors that impacts
over operations and functions of
business (Dey and et. al., 2012). These
are:
 Political:
 Economic:
 Social:


Marketing objective of business
 The SMART objective of a business provides comprehensive
definition of goal setting at Softtech company where acronym
SMART can be explained as following:
• To introduce accounting software within two months to
enhance business sales around 20% more (Sparks, Nykiel and Jascolt,
2012).

Segmentation, targeting and positioning
 The Segmentation, Targeting and Positioning (STP) Model, an
approach that can use by Softtech company.
To identify their most valuable market segments as well as to sell
them successfully with carefully targeted products and marketing
strategies (Chernev, 2015).

Marketing Strategies
Michael Porter has introduced this model
to determine the direction for an
organisation where Porter uses four
strategies from which Softtech can select
one to develop its business (Chernev, 2015).

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Cost Leadership: Here Softtech can target a broad market with large
demand and offer the lowest possible price. There are 2 options within
this which can be opt to keep costs as low as possible or to ensure that
company have a larger market share with average prices (McDaniel and
Gates, 2013).

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Differentiation: With this strategy Softtech company can target broad
market with high demand but the product or service carries unique
features. Here company can make its product as exclusive as
possible, making it more attractive than comparable products offered
by the competition (Paley, 2017).

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Cost Focus: Here Softtech will target a niche market that is little
competition and offer the lowest possible price. In this strategy,
company will choose to target a clear niche market and through
understanding dynamics of market as well as needs and demands of
consumers, they can ensure that the costs remains low (Armstrong and et.
al., 2015).