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The Family Corner: Marketing Plan Assignment

6800 words - 27 pages

Proposal AssumptionsAssumption One:For the purposes of this marketing plan we have used the assumption that the company, as outlined in this proposal, is subject to a beginning marketing budget slightly elevated than the local competition's current budget. This assumption is based on the fact that the proposed company is just beginning its growth stage (because it is a start-up company) and as most business, we allotted for introductory promotional and pre-existence advertising.Assumption Two:Based on the overwhelming task of creating a marketing plan for a start up company and the generally comparative nature of warehouse clubs, we have streamlined product mix to differentiating features only and price to figures material in nature.Assumption Three:Several figures included in this proposal are assumptive in nature as most direct competitors are international corporations and plan their marketing strategies as such.Assumption Four:As this proposal is outlined for a startup corporation, figures used will vary between expected startup cost and future cost as defined in each section.Note: all figures have been rounded for ease of use.The Marketing Plan DefinedThe marketing planning cycle as described by Sally Dibb in Marketing Planning Best Practice encapsulates a systematic process that explores the marketing analysis, strategy development, design and implementation of marketing programs as well as the importance of evaluation. This functional process is a key resource for business that wishes to create a larger competitive advantage. That is why marketing planning has become common practice in the modern day business environment.The importance of the marketing plan is that it enables the organizations to:•Analyze current market trends, competition and internal measures.•Identifies marketing opportunities or disadvantages in order to create new strategies or corrective actions needed.•Establishes plans and goals to reach company objectives.Through the use of a well formulated, implemented and monitored business plan a company should be able to measure the results from the added value. Whether it be from cost savings, increase in market share, reduction of over head, increase in net profit or even from intangibles such as goodwill (which eventually leads to consumer loyalty) if the marketing plan is sound, the company should benefit.Introduction and result of mode and meansUtilizing a fictitious company, this project will demonstrate our knowledge of marketing strategies, theories and models. This case proposal will include an executive summary covering the formation of the company and the company's unique selling propositions, an analysis of the current market and competition (including competitive pricing, name branding and market shares), Proposed marketing strategies, and will conclude with implementation measures and recommendations.Executive SummaryIntroductionThe introduction of Family Corner brings with it a new and innovative...

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