University Canada West: MRKT 621 Marketing Plan for Versett

This marketing plan provides a comprehensive analysis for Versett, a Canadian consulting firm, encompassing various aspects of marketing strategy. The plan begins with an organizational overview, including mission, values, and geographic locations. A detailed SWOTT analysis (Strengths, Weaknesses, Opportunities, Threats, and Trends) is presented to assess internal and external factors. Extensive market research, including primary and secondary data analysis, is conducted to understand market dynamics. The plan also outlines the STP (Segmentation, Targeting, and Positioning) strategy and identifies the product life cycle stage. The marketing mix, including product, price, place, promotion, people, process, and physical evidence, is thoroughly discussed, supported by a $400,000 marketing budget. Finally, financial projections in the form of a Profit and Loss Statement and Balance Sheet are provided, along with evaluation and monitoring techniques.

Running head: MARKETING PLAN
MARKETING PLAN
Name of the Student
Name of the University
Author Note
[Type text]

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Executive Summary
The marketing can be mentioned to be an essential activity which needs to be carried out by the
different enterprises in order to see to it that the different activities can be publicized
accordingly. In consideration of this, the report follows a systematized format whereby, the
report shall outline the overall organizational overview, the Strengths, Weaknesses,
Opportunities and Threats along with the Trends in the industry. The market research has also
been presented along with the understanding of the current Product Lifecycle stage. In
association with this, the Marketing Mix will be presented along with the understanding of the
manner in which the marketing plan should be evaluated. The enterprise which has been selected
is a consulting firm named Versett.

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Table of Contents
Organizational overview..................................................................................................................4
Name of organization...................................................................................................................4
Mission statement, organization’s basic values and philosophy.................................................4
Geographic location.....................................................................................................................5
SWOTT analysis..............................................................................................................................5
Strengths (internal).......................................................................................................................6
Weaknesses (internal)..................................................................................................................7
Opportunities (external)...............................................................................................................7
Threats (external).........................................................................................................................8
Trends (external)..........................................................................................................................8
Marketing research...........................................................................................................................9
Primary Analysis........................................................................................................................10
Secondary Analysis....................................................................................................................16
STP (Segmentation, Targeting and Positioning)...........................................................................18
Stage of the product life cycle.......................................................................................................18
Marketing mix................................................................................................................................20
Product:......................................................................................................................................20
Price:..........................................................................................................................................20
Place:..........................................................................................................................................21

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Promotion:..................................................................................................................................21
People:........................................................................................................................................21
Process:......................................................................................................................................22
Physical Evidence:.....................................................................................................................22
Marketing Budget ($400,000)........................................................................................................22
Control/monitor:............................................................................................................................24
Profit and Loss Statement..........................................................................................................24
Balance Sheet.............................................................................................................................26
Evaluation and elated monitoring techniques:...............................................................................28
References......................................................................................................................................30

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Organizational overview
Name of organization
The organization which has been essentially selected for the purpose of the analysis can
be mentioned to be the Versett Consultancy. The firm is a consultancy firm which is based in
Canada and provides ideas about designing, building and scaling the enterprise. The firm also
has two other branches as present in the different parts of the country (Abril & Rodriguez-
Cánovas, 2016). In consideration with this, the goal of the business is to provide ideas about how
a company can build better products through the procedure of research, definition, design and
technology. In consideration with this, the company assists in operating the product through
analysis, helps in growth strategies and user acquisition (Aghazadeh, 2015). The company also
helps its customers to hire and train teams so as to support the success. Therefore, this
organization has been chosen for the purpose of the analysis because although the enterprise
provides distinctive services, it needs to become more popular and gain a large customer base so
as to earn higher revenues and gain a competitive edge in the consultancy industry.
Mission statement, organization’s basic values and philosophy
The primary belief of the enterprise is to be the product team of any organization which
intends to grow its business in the long run and in association with this, they intend to keep their
promises and in association with this, also intend to build quality products for the different firms.
The primary mission of the organization is to ensure that, they are being able to engage and
empower the different organizations successfully (Bagozzi et al., 2018) In consideration of this,
it becomes considerably crucial to understand that, the lead by strategy and their intention is to
see to it that the different enterprises are being able to fulfill their objectives and ensure
successful goal achievement (Versett.com ,2020). The enterprise plans for longevity and tends to

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see to it that, they will be able to see to it that the different companies are being able to serve the
target market in an appropriate manner.
Geographic location
At present the three locations which are available are as follows:
1) Calgary
1410 1122 4St. SW
Calgary, AB
T2R 1M1 Canada
2) New York
200 Broadway Floor 3
10038 USA
3) Toronto
Suite 304, 49 Spadina Ave.,
Toronto, ON
M5V 2J1 Canada
SWOTT analysis
The SWOTT analysis can be mentioned to be a strategic analysis tool which helps in
understanding how a company is performing internally as well as externally (Chernev, 2018).
The SWOTT as a tool needs to be applied by an enterprise in order to gain an idea about the

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manner in which the internal and the external factors influence a business. The SWOTT analysis
provides details of the Strengths of the business, the Weaknesses faced by it and in association
with this, it also gives an idea about the manner in which the Strengths as well as the weaknesses
can be utilized in order to meet the opportunities and the threats which lie in the external
environment of the firm. In consideration with this, the given section will identify the various
threats, strengths, opportunities as well as the threats along with the trends which are being faced
by the firm and assists in understanding how the organization will perform in the long run
(Deepak & Jeyakumar, 2019).
Strengths (internal)
The strengths can be defined as the internal capability of the enterprise which generally
assists in ensuring that, the firm will be able to remain in an advantageous position and thereby
attain their overall goals as well as objectives. The strengths which are possessed by the
enterprise can be mentioned to be as follows:
 The Versett has a wide range of employees who are skilled and have been hired from
various knowledge domains.
 The knowledge management system using which Versett generally performs can be
understood to be quite strong (Eastman et al., 2015).
 In consideration of this, the Versett is present in various geographic locations which
thereby make its make it quite widespread.
 The firm has sound relationship and association with various executives of different
enterprise which thereby leads to better performance by the enterprise (Mack, 2015).
 The company has been able to sponsor various programs as well as the different seminars
which have assisted the firm in spreading considerate awareness.

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Weaknesses (internal)
The weaknesses can be essentially described as the different shortcomings which are
generally faced by the different enterprises due to some internal issues and generally tend to
hamper the overall performance of the enterprise as a whole and affect its ability to complete the
different operations. In consideration of this, the different weaknesses which are generally faced
by an enterprise can be mentioned to be as follows:
 The organization due to its business line generally tends to face very tough competition
from the different parties which are present in the industry and in consideration of this, it
often faces wars regarding project and relate prices (Foroudi et al., 2017).
 As the enterprise is a global player, the business of the enterprise is governed by various
policies such as the currency and related business policies which thereby limit its
operations.
 The geographic location of the enterprise can be understood to be largely limited in
nature and in consideration with this, the competition affects it
 Lastly, the firm currently has very limited social media presence which has thereby
affected its operational efficiency (Gummesson, 2017).
Opportunities (external)
The opportunities can be rightfully defined as the different options which are available to an
enterprise and are generally present in the external environment. In consideration with this, the
opportunities give a chance to the enterprise and generally tend to allow them to perform well.
Hence, the different opportunities which stand in the way of Versett can be mentioned to be as
follows:

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 In addition to the products, the enterprise can also go for consulting in the domain of
general strategy as well. In association with this, the firm would be required to see to it
that, it is being able to manage its operations accordingly.
 The firm can also undertake various initiatives with the help of which it can extend the
operations to the emerging economies (Haider et al., 2017).
 Moreover, advertising and using SEO marketing will help the firm to gain more
customers.
Threats (external)
The threats can be mentioned to be the external events or conditions which generally take
place outside the organizational environment and generally tend to lead to a difficulty in the
overall performance of the organization. In consideration of this, the various threats which are
being faced by the enterprise can be mentioned to be as follows:
 Expansion in the other industries may dilute the focus of the enterprise which may
thereby lead to considerate difficulties on the part of the enterprise and thereby lead to
reduced operational efficiency in the long run (Išoraitė, 2016).
 The strict governmental regulations and laws may thereby limit the various operations of
the enterprise and may lead to considerate limitations in the operations of the enterprise.
 In addition to this, the social media presence of the competitors of the enterprise have
been increasing to a great extent and in relation to this, management of their goals as well
as objectives also becomes considerately difficult (Järvinen & Taiminen, 2016).
Trends (external)

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The key trends can be essentially described as the current happenings which generally tend to
take place in the external environment of the firm and may impact the operations of the
enterprise. In association with this, the current trends of the enterprise can be mentioned to be as
follows:
 There exist new players like freelancers, crowdsourcing and others which generally tend
to bring about associated issues in the workplace and have a deep influence on the
operations of the firm which relate to the consultancy and related associations (Keegan,
2017).
 The demand for the different consultancies has increased and they are expected to have a
wider breadth of knowledge. In association with this, it becomes critically relevant for the
organization to ensure that, they can meet these needs successfully.
 The collaboration which takes place between the professional service providers is
becoming a rather common place which has further led to considerate impact on the
operations of the various enterprises (Kotabe & Helsen, 2020).
 The value based performance is being greatly demanded and this is leading to considerate
association and related operations between the various parties.
 The billing models and related pricing models have been changing to a great extent and
this leads to associated operations.
Marketing research
In order to ensure that adequate data can be essentially gathered for Versett and they are
rightfully able to understand the manner in which, the firm will perform well by understanding
the trends, the marketing research has been carried out by carrying out both Primary and
secondary analysis (Kotler et al., 2018). In association with this, it can be essentially mentioned

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that, the Primary analysis has been undertaken by making use of survey from 50 companies
belonging to various domains who were then asked about their view on the consulting business
and the mannerism in which the consulting business affects the operations of the enterprise
accordingly (Zimmerman & Blythe, 2017).
Primary Analysis
Do you think that you need consultancy services?
Row Labels
Count of Do you think that you need consultancy
services?
No 19
Yes 31
(blank)
Grand Total 50
19
31
No
Yes
Figure 1

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When the different company executives were asked about the fact whether they required
consultancy services or not, then in association of this, 31 out of the 50 respondents mentioned
that they believed that they did require Consultancy services and in consideration with this, it
could be essentially mentioned that the services were in demand.
What kind of consultancy services would you need the most?
Row Labels
Count of What kind of consultancy services would you need the
most?
HR 7
Marketing 12
Operational 13
Product 18
(blank)
Grand Total 50
7
12
13
18
HR
Marketing
Operational
Product