At the end of this course, you will have created a marketing plan for a hypothet
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Question
At the end of this course, you will have created a marketing plan for a hypothetical product-based company. Each assignment focuses on a different section of the overall marketing plan. For Assignment 1, you will compile information on the company’s background information, an environmental analysis, your company’s short and long-term goals, and a SWOT analysis.
For information on Website analytics, visit Google Analytics at http://www.google.com/analytics/why/.
Note: You may create and / or make all necessary assumptions needed for the completion of this assignment.
Write a five to six (5-6) page paper in which you:
Write an introduction to your company. Describe your company, its location, and the product it makes or the service it provides.
Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
Determine the primary and secondary target markets for your company. Next, analyze the primary and secondary target markets that you identified for your company. Be sure to cover the 4Ps, 5Cs and STP.
Decide the main goals that you would like to achieve within the next year (short term) and the mains goals that you would like to achieve within the next five (5) years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement.
Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine four (4) strengths, weaknesses, opportunities, and threats for your company.
Use at least four (4) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources.
Explanation / Answer
According to Onkvisit and-and shaw in 1987 the profile of the consumers includes demographic, psychographic and behavioural characteristics. The perceptions, attitudes, consumption patterns and usage habits are given importance while designing the strategies of International marketing and advertising (Kotler, 2000). There is the focus given to positioning the brand to secure an important place in the mind of the target market (Ries and Trout, 1986; Kotler, 2000). According to De Chernatony it is necessary for the companies to show important components of the brand to reveal the core values of the brand. The brand pyramid reveals these points. Te personality traits of the brand will form important features of the brand (De cenatory, 2006).
About the Company
The hypothetical company is called ‘Ink cup’ which supplies printed cups in America. The products will include hot cups, double wall hot cups, cold cups etc. It will also have a cloud-based tracking system to track the product and manufacture it. There will be focus provided to produce quality paper cups with highest standard customer service.
Mission
The mission of the company is to provide premium quality cups in the world to personalise products.
The Company ‘Ink Cup’ price will be based on the minimum order of 1000 cups. Place will be mini store and customization through online store The promotion will include marketing activities. The Company ‘Ink Cup’ will focus on website, email, social media, partnerships, editorial. There will also be the focus given to shows, events, testimonials, exhibitions and charity events.
Target Audience
The target audience for ‘Ink Cup’ will be small, medium to vig sized businesses to help every company who is looking to make to brand stand out. There will be two types of customers. This will include affluent cafes and mini coffee shops. The second group will be companies that are aiming to stand out in events or public conferences.
Competition
The competition will be well-established brands who have their own printed cups; including coffee shops that are well established.
Objectives
To be the best paper cup company in the world
To provide premium quality products to the customers in short lead times
To give a rise to the customer traffic
To increase the loyalty of the consumers towards the company
To analyse opportunities in order to raise the enquiries towards the products Situation analysis Strengths It is the fastest paper cup company in America which will provide premium products Dedicated and customised service to the customers Minimum runs of 1000 cups Digital cloud-based system Environment-friendly materials for the cup Artwork provision for free
Weaknesses
Less recognition for ‘Ink company’
Niche market
Strong competition
Opportunities
There is scope for business improvement because of the niche product
Increase of awareness regarding environmental value
Importance for customised cups and awareness for making their brand stand out for business growth
Threats
Heavy cost involved for manufacturing Capital cost high
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