MKT103 Marketing Plan: Virtual Storefront Platform Service Analysis

This report presents a detailed marketing plan for a virtual storefront platform service, designed to connect customers with local stores through an online application. The plan addresses the challenges posed by the COVID-19 pandemic, focusing on helping retailers establish virtual storefronts and enabling customers to shop safely from home. It includes a comprehensive marketing mix strategy, covering product attributes, pricing, promotional activities (including social media and online presence), and distribution strategies. The report analyzes the target market, identifies key goals and objectives, and outlines evaluation methods to measure the success of the marketing initiatives. It also emphasizes the platform's unique features, such as geo-referencing technology, and its positioning strategy, using the tagline "Beat the virus and keep afloat". The plan concludes with recommendations for implementation and schedule, aiming to drive sustainable growth and market penetration.

Marketing Plan for
Virtual storefront platform service
application
MKT103 Introduction to Marketing
Page 1

Executive Summary
Virtual Storefront Platform Service is a business which connects customers with local stores by providing
them with online platform. The company offers virtual platform to retailers to advertise their business and
customers to buy products virtually. This is a marketing mix plan which is prepared to promote business
effectively in the market. The company target techno savvy people and the people with all age groups. It
positioned itself in the market by using a tag line. This marketing plan helps the business in successfully
promoting its services in the market.
Page 2

Table of Contents
Executive Summary........................................................................................................... 2
Table of Contents............................................................................................................... 3
Marketing Initiative............................................................................................................ 5
Initiative.......................................................................................................................... 5
Goals and Objectives...................................................................................................... 5
Marketing Objectives...................................................................................................... 5
Target Market & Positioning............................................................................................... 6
Selection of Target Market.............................................................................................. 6
Positioning Strategy........................................................................................................ 6
Positioning Strategy..................................................................................................... 7
Positioning Map........................................................................................................... 7
Marketing Mix Strategies................................................................................................... 7
Product........................................................................................................................... 7
Product attributes........................................................................................................ 7
Price................................................................................................................................ 8
Promotion.................................................................................................................... 8
Place............................................................................................................................... 8
Example of distribution model.....................................................................................9
Evaluation and Control....................................................................................................... 9
EVALUATION OF GOALS............................................................................................... 9
Implementation & Schedule............................................................................................. 10
Conclusion and Recommendations..................................................................................10
Reference List.................................................................................................................. 10
Page 3

Marketing Initiative
Initiative
Covid-19 pandemic is considered as one of the greatest challenge for businesses and economies. The
spread of coronavirus makes it difficult for the people to go outside and visit streets for shopping. In this
time, it is very necessary for people to maintain social distance in order to stay safe. It severely disrupting
economy of the world and all the countries are struggling to slow down its impact. The outbreak of virus has
forced organisations to revaluate the way contact centres are leveraged and deliver relevant experiences to
customers. In this period of covid-19 outbreak, the brick and mortar shops are depending on online sales
and curb side and take away delivery purchases to survive. Virtual Storefront Platform Service is an
organisation who want to connect consumers with local stores through an application so that they do not
need to go outside for purchases and they can select the street they want to visit as well as can scroll right
or left to walk down and up. The users are shown with virtual storefronts in order to enter into website, click
on any shop. Once the users enter inside the store, they are able to see all the deals, promotions and
special offers which have been collected from best deal sites. The virtual storefront application also allows
owners to put messages in virtual store front windows, in stock goods, delivery options, announcing deals
and more. The application gives virtual stores for website of every business, replicate shopping experience
without risk. With the help of it, shoppers can find out that which outlets are open, pre order products for
pickup or delivery from the safety of their houses. The main reason behind choosing this initiative is to
make the retailers able to set virtual store fronts as well as post messages on digital windows regarding
delivery options, deals, goods in stock along with other information. Customers can also develop and
organise their custom-made avenues with the stores of their choice. It aims to transform national websites
and local stores into virtual outlets so organisations as well as consumers can respond to problematic
situations.
Goals and Objectives
Marketing Objectives
In order to ensure sustainable growth and development of Virtual Storefront Platform Service,
the goals and objectives are mentioned below:
1. To approach all the local stores of Australia within 4 months with detailed offerings so that they get
chance to present their offerings virtually.
2. To transform every website and millions of stores into branded virtual stores so as to connect
customers with local stores and make them able to safely purchase products without going to high
street shops.
Accomplishment of these goals will help Virtual Storefront Platform Service in attaining growth and
sustainability while make sure that the service quality offered by company will not lost.
Page 4

Target Market & Positioning
Selection of Target Market
The target market of Virtual Storefront Platform Service is all the people who want to make their
purchases virtually without going to high streets and the retailers who want to sell their products and
services online. The target market is chosen assist keep them afloat. The company offers a virtual store
front platform which offer access to retailer for free.
Profile of target market addressing segmentation criteria:
Demographics
 The people of all age groups.
 Tech savvy people
 People with minimum income level.
Psychographics
 Individuals who are early adopters.
 People who have busy lifestyles or not having to go outside to make purchase.
Consumption and use patterns (i.e., Behavioural):
 Individuals who want to purchase products and services online.
 People who want to get best deals and offers.
Geographic
 In all the regions and areas of Australia
Marketing and brand dimensions
 Provides e-commerce platform which helps in connecting customers with local stores
 Support local businesses to attain sustainability during covid-19 pandemic.
Virtual Storefront Platform Service aims to provide benefit to the local retailers of Australia during the
spread of covid-19 pandemic and enable the customers to make their purchase safely while sitting in the
home or not going outside to purchase a particular product or service. It makes the shoppers able to
develop their own individual "high streets," where these individuals group collectively their favourite stores
as well as share their streets on the platform of social media. This social media platform allows users to
follow another shoppers, involving celebrities. In addition to this, the geo-referencing technology which
used in the application will mimic weather in real world as well as showcase the same in the virtual one.
Positioning Strategy
Virtual Storefront Platform Service will differentiate itself by offering customers with a platform to connect
with local stores. Apart from this, it also work closely with retailers and offers them free access to
Page 5

application which differentiate it from others. In the current economic crisis, the application provides
retailers with the opportunity to grow and attain sustainability in market during spread of corona virus
pandemic. Because of this deadly virus, people less like to prefer to go outside for making purchase. This
application provides them with the facility to choose the street they want to visit and click to any store to
enter into website. This special feature of the application differentiates it with others.
Positioning Strategy
The Virtual Storefront Platform Service positioned itself by using the tagline - “Beat the virus
and keep afloat”. This helps company in attracting more number of customers and
retailers towards to application and get the benefits provided by the company for free.
Apart from this, the company position itself by providing free access to retailers and customers to advertise
and shop as per their choice. Moreover, the facilities which are provided by Virtual Store front Platform
Service. The innovative application developed by the company differentiate it with the applications of other
organisations. In addition to this, in response to covid-19 pandemic, this application helps in shifting the
interest of customers towards shopping online by connecting with the local stores virtually.
Positioning Map
Positioning map is defined as the diagrammatic technique which is drawn to show the perceptions of
customers towards offering of business on the basis of quality, price as well as other aspect and the way
perception compares with competitors. The brand positioning is highly influenced by the perception of
customers instead of those of businesses. With the help of positioning map Virtual Storefront Platform
Service can determine its position in market. It application offered by the company is expensive, however,
the company currently provide free access to the retailers and customers for some time which makes it
cheap to use and make the firm able to attract large number of people towards the application.
Marketing Mix Strategies
Marketing mix is the set of actions which and organisation utilize in order to promote its product or service
in the market and generate high revenues by attracting large group of customers. The marketing mix in
relation to Virtual Storefront Platform Service is mentioned below:
Product
Product is defined as the item that satisfy needs of customers or which actually been sold in the market.
Virtual Storefront Platform Service offers an application for the retailers and consumers where retailers can
advertise about their products and services and consumers can purchase those virtually. In order to get
success in the market, it is necessary for the company to ensure that the application or service provided by
it deliver minimum level of performance. Through the application, company provide customers with the
platform to connect with local stores and make their purchase. Innovative technology like georeferencing
technology is utilized within the application of company which differentiate it from the applications provided
by the other organisation.
Product attributes
Product Attributes Resulting Consumer Benefit
Provide platform to connect with local
stores
Make the customers able to shop to
different high street retailers virtually.
Page 6

Application shows virtual shopfronts Make the customer able to enter its
website only just by clicking on any
store.
|
Price
Price can be stated as the amount which consumers pay for the service. Virtual Storefront Platform Service
provide its services free for some time in order to attract more number of retailers and customers. And after
sometime, the company will make use of penetration pricing strategy in which initially, the prices for using
the application for retailers in order to advertise their products and services is low and after sometime, they
will increase the price of application or the service offered. The initial low price helps in attracting more
number of customers and penetrating the Australian market effectively.
Promotion
Promotion can be defined as a way to promote products and services in the market by using different
promotional tools. In order to promote the service offered by Virtual Storefront Platform Services, company
make use of different promotional channels including social media, publicity, billboards, online website etc.
in order to promote its services effectively in the market and attract more number of people towards the
application. Apart from this, the company will also make use of a tagline "Beat the virus and keep afloat" so
as to promote its application in the market and make it accessible by more people.
Implementation table with promotional elements that can be use by Virtual
Storefront Platform Service:
Media March April May June July Aug Sep Oct Nov
Publicity
Advertising
Outdoors
Transit
Billboards
Social
media
Online
website
Place
Places referred as the area or region where the product or service offered by company is accessible.
Virtual Storefront Platform Services will offer it services in all the areas of Australian market. Providing
services in the Australian market will help in attracting the customers and generating high revenues. As the
company offers e-commerce platform to retailers and customers, it emphasizes on making the interface of
application simple so that all the people will be able to use it easily.
Page 7

Example of distribution model
Evaluation and Control
EVALUATION OF GOALS
Goal Metric Method of
Measure
Timing Responsibility
To approach all
the local stores of
Australia within 4
months with
detailed offerings
so that they get
chance to present
their offerings
virtually.
To transform
every website and
millions of stores
into branded
virtual stores so
Advertisement
and social media
Online website
and social media
Sales and
revenue reports of
company
Business reports
of the company
Within 4 months
Every three
months
Owner of the business
Owner of the business
Page 8
Application Retailers Consumers

as to connect
customers with
local stores and
make them able to
safely purchase
products without
going to high
street shops.
Implementation & Schedule
Conclusion and Recommendations
As per the above discussed marketing plan, it can be concluded that the marketing mix strategy used by
company is very effective in effectively promoting the product or service of the company in the market.
Offering service initially at free of cost is the strategy to attract large group of consumers and retailers
towards the application and generate high revenues. Development of clear goals will help in accomplishing
them effectively and attaining success and sustainability in the market for long term. Further, it is
recommended to the company that it must introduce innovative features in its application on continuous
basis so as to keep it attractive and attract people move towards it. It is also recommended to the company
that it must execute effective promotional strategies on continuous basis so as to promote the service
effectively in the market.
Reference List
Wu, Y. L., & Li, E. Y. (2018). Marketing mix, customer value, and customer loyalty in social
commerce. Internet Research.
Gupta, C. B., & Nair, R. (2020). Marketing Management, CB Gupta & N. Rajan Nair. Sultan Chand &
Sons.
Giraldo Oliveros, M., & Esparragoza, D. J. (Eds.). (2016). Gerencia de marketing. Universidad del
Norte.
Chernev, A. (2020). The marketing plan handbook. Cerebellum Press.
Prybyla, J. S. (2019). Market and plan under socialism: The bird in the cage (Vol. 335). Hoover Press.
Sharp, B. (2017). Marketing: theory, evidence, practice. Oxford University Press,.
Page 9

de Vicuña Ancín, J. M. S. (2018). El plan de marketing digital en la práctica. Esic editorial.
Chaffey, D., & Smith, P. R. (2017). Digital marketing excellence: planning, optimizing and integrating
online marketing. Taylor & Francis.
de Vicuña Ancín, J. M. S. (2016). El plan de marketing en la PYME. Esic Editorial.
Hanssens, D. M., & Pauwels, K. H. (2016). Demonstrating the value of marketing. Journal of
Marketing, 80(6), 173-190.
Page 10