Preparing an Internet Marketing Plan You are required to select any product/serv
ID: 407724 • Letter: P
Question
Preparing an Internet Marketing Plan
You are required to select any product/service which you want to market online, and then prepare a marketing plan for it.
Tasks to perform: Once you have identified company/idea, you are required to write an Internet Marketing Plan for it.(,Executive Summary and Environmental Analysis e-marketing strategic planning,objective,e-marketing strategy, implementation plan,budget, references). Submit a typed report of maximum 6 - 8 pages for the proposed Internet Marketing Plan for evaluation. References must be provided.
Explanation / Answer
Internet MARKETING PLAN
Introduction
The present paper is a marketing plan of a particular organization. The organization is in business of selling mobile phones to customers. Here, the marketing plan shall include various kinds of areas to be taken into consideration. The areas include introduction of the company, location, environmental analysis, primary and secondary target market, main goals, SWOT analysis and needs analysis of the organization. These points shall be taken into consideration in appropriate manner.
Introduction of Company
The company is a mobile phone manufacturer company. It manufactures various kinds of mobile phones. Along with manufacturing of mobile phones, organization also has retail stores for selling the phones. The name of the company is Max Mobiles Inc. Head office of this company is located in New York, United States of America (McDonald, 2009). The mobile phone sold by this organization includes normal mobile phones along with smart phones with 4th generation compatibility and other features.
Environmental Analysis
The environmental analysis of the organization shall include analysis of competitive environment, economic environment, and political environment, legal, technological and socio-cultural environment. First analysis is competitive analysis. In terms of competitive analysis, the organization has various organizations which can be categorized as its competitors. The organizations include Samsung, Apple, Nokia, Motorola and others. These organizations are well established in the market therefore, this organization is required to work at a higher level for facing competition in a better manner.
Next is economic environment. In the United States of America, financial conditions are not as good as these were earlier. There is problem of recession in the country which could make negative influence on sale of organizational products. Few of the phones of the organization are costly therefore, in case of recessionary conditions; organization might have problems in sale of expensive mobile phones. Fluctuating currency can also make influence on revenues generated as the organization is selling its products to the customers in other parts of the world also. Third factor is social factor.
In case of this factor, the organization has to ensure that it considers tastes and preferences of customers. Today, it is not possible for the people in the world to stay without mobile phones. People keep looking forward to have better technology available to them (Westwood, 2013). This shows that, organization should continuously make improvement in its products to meet requirements of customers. Fourth area of environmental analysis is the area of technological analysis.
In case of technological analysis, organization has to ensure that it works towards making technological improvements on regular basis. In course of technological improvement, the organization would require meeting the standards of its competitors. With every new phone, technological advanced feature should be provided by the organization. This will help the organization to make sure that it does not fall behind its competitors in terms of technological development regarding sale of mobile phones.
Legal analysis is another of the analysis to be carried out. In course of legal analysis, the organization should ensure that it complies with necessary laws and regulations. The laws regarding Equal Employment Opportunity Commission and Sarbanes and Oxley Act of 2002 along with certain other laws shall be required to be followed by the organization. These laws are necessarily required to be complied by the organization to avoid any kind of penalties being imposed on it.
Primary and Secondary Target Markets
Primary target market for the organization in relation to present scenario is the market which includes school, college and office going people. These people need mobile phones with smart phone features for carrying out various tasks. The school and college going people require the product to click pictures and share on social networking sites. Office going people need phones for checking their mails and sending various kinds of reports to other people in the office or business partners or subordinates.
The Secondary target market for this organization includes old people and people who stay at whom for cooking food or taking care of their children. The focus of the organization shall be on its primary target market as primary target market includes people who are more likely to make purchase of organizational products. People in other target market are not certain to purchase the products provided by the organization.
4 Ps
Four Ps of marketing include price, product, promotion and place. The price of the product shall be equal to the price at which mobile phones of similar class are sold in the market (Luther, 2011). The price shall not be higher in comparison to those of Apple Inc, Samsung or Nokia. Product provided by the organization in the present scenario is mobile phone of various categories. Promotion of the product shall be carried out by the organization by way of advertisements on television and newspaper. Place of availability of mobile phone shall include place such as retail stores and the phone shall also be available to the customers online.
5Cs
5 Cs of marketing include customer, company, competitors, collaborators and context. Customers of the organization include people from the age group of 14 to 70 years. These people make use of mobile phones for different kinds of purposes. Company here is Max Mobiles. This organization is providing various kinds of mobile phones for the customers for meeting their needs. Competitors of the organization include Apple, Samsung, and Nokia. Collaborators for the organization include mobile phone distributors and retailers along with online shopping sites where the organization can post its products for customers to purchase. The organization does have limitations due to economic issues as the United States of America has problems regarding recessionary conditions.
STP
STP in marketing includes segmentation, targeting and positioning. Here, the market segment for the organization includes two segments. First segment is of the people who go to their offices, schools and colleges and another segment include people who stay at home. Targeting will include use of various marketing methods to identify the customers and make sale of the product (Westwood, 2002). Positioning shall involve the area of advertising on newspaper, television and various other areas.
Main Goals
The goals of the organization shall be divided into two categories. First category of goal shall be short term goal and another category of goal will be long term goal. For the organization, the goal to be achieved within a period of next year would be to have its customer base increase to 10000 customers. As a long term goal, organization will look forward to achieve the goal of increasing its net profit by 10% every year, from the end of first year till the 5th year.
Ways to measure Short and Long Term Goals
For measurement of short term and long term goals, organization is required to adopt certain important measures. One of the measures which could be adopted by organization for measuring its short term and long term goals is the method of comparison. The organization should compare the actual performance with the standards. In case, the organization has set up the standard of having 10000 customers in the first year then, the organization will measure the actual mobile phones sold and find out whether the goal has been achieved or not. The number of website visitors could also be considered for determining the goal. For measurement of long term goal of enhancement in profits, financial statements of the organization shall be required to be taken into consideration. With help of financial statements, the organization will determine the actual profit earned by it at a point of time.
SWOT Analysis
First point in case of SWOT analysis of an organization is the point of organizational strengths. The strength of the organization is its ability to ensure that it carries out effective marketing activities. Another area of strength of organization is the increasing rate of mobile consumers. In previous year, smart phone market has increased by 23.8% therefore, it is expected that the market would continue to grow in future also.
Weakness of the organization is that it is new in the business. There are existing organizations in the country which are carrying out their activities in an effective manner. Opportunity for the organization is to exploit the emerging demand of mobile phones in the countries. There is increase in number of mobile phone users in the country to a higher level. With increase in number of mobile phone users, it is expected that, organizational sale shall also increase to a considerable extent.
Threat for this organization is regarding high level of competition in the market. The existing organizations such as Samsung, Nokia and Apple could pose competition to this organization. The threat for the organization is to lose market share at a particular point of time. The existing organizations may not allow the new organization to make the customers purchase their products.
Need Analysis
Need analysis shall include the reason due to which the customers would look forward to make purchase of organizational products. In course of need analysis, there are certain areas to be taken into consideration. Here, the product sold by the organization to its customers has become a necessity for them. The mobile phones are used for purposes such as sending and reading text messages, reading emails, surfing internet, setting alarm clock, making calls, using various applications, taking photographs and various other things. These things are necessary for each and every person these days. Therefore, there is definitely a case of need for mobile phones for the people presently.
Conclusion
The present paper was regarding marketing plan of a particular organization. The organization is a manufacturer of mobile phone. In course of marketing plan, organization should ensure that it considers various areas such as environmental analysis. It should also find out its primary and secondary target market and identify its goals. Measurement of goals is also very important for the organization. SWOT analysis and needs analysis for determining its position in the market. These things will help the organization to work in such a manner that it manages competition of the market. Its products are required to be sold to the customers at a higher level. Therefore, a marketing plan for selling higher level of products to the customers would be essential for it for gaining long term performance in the market.
References
Westwood, J. (2013). How to Write a Marketing Plan. (4th ed.). Kogan Page Publishers.
Luther, M.W. (2011). The Marketing Plan: How to Prepare and Implement it. AMACOM Div American Mgmt Assn.
Westwood, J. (2002). The Marketing Plan: A Step-by-step Guide. Kogan Page Publishers.
McDonald, M. (2009). Marketing Plans: How to Prepare Them, how to Use Them. Elsevier.