Marketing Plan For A Business Essay - 2071 Words

The success of any business lies in marketing, both internally and externally. The overall marketing aspect covers advertising, public relations, promotions and sales. Mokhtar Wan-Ismail (2012), citing Panayides definition states marketing is ‘†¦the process of planning and exacting the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges and satisfy organizational objectives’. Without marketing, a business may offer the best products or service in an industry, but none of the customers would know about it. Without marketing, there would be a decline in sales and companies would be forced to close. This paper seeks to present a marketing plan for S.M. Jaleel and Company Limited product line of â€Å"American Classic Cola† and identify target segments in the Trinidadian market. 1.1 The current marketing situation with background data on the market segments, product, competition, and distribution: S.M. Jaleel and Company Limited, (SMJ) is 100% locally owned and they are the Caribbean’s largest non-alcoholic beverage company and is a dominating force in the beverage industry, setting a high standard of competition over the last ninety years. Its products range from carbonated soft drinks, fruit juices, purified and flavoured water, and energy drinks and iced teas. The company primarily sells its products through a multitude of local distributors such as large supermarkets, restaurants, mini-groceries and small shops. They haveShow MoreRelatedThe Marketing Plan For The Business Plan858 Words   |  4 Pagesimportant to protect it and continue the development and positioning it in the market. Therefore, there are numerous models of communication plans, the firm should use the one they find appropriate for them. In essence communications plans have several disciplines that interrelated and in synergy would support the business plan can create an effective communication pla n with results potentially beneficial to the positioning of the brand. These disciplines are: advertising, paid search, social media, customerRead MoreMarketing Plan For A Business Plan1241 Words   |  5 Pages Marketing Plan As I navigated my way through the business plan provided to me by ChopSaver, I saw that they had a clear and concise marketing plan. Currently ChopSaver is sold online and in over 9,000 U.S. retailers, including over 7,000 CVS Pharmacy locations nationwide. When asked how they market their product, ChopSaver replied, â€Å"As a brand with a unique and authentic story behind it, we utilize both social media and public relations to tell the story. The musical part of the brand lends itselfRead MoreMarketing Plan For A Business Plan1266 Words   |  6 Pagesgrow health hair.† 2) Next, create an outline for a business plan by answering the following â€Å"nine questions every business plan should answer†: 1. Who is the customer? The customer is the party that will receives or consumes my products and has the ability to choose between different products and suppliers. The customers for my products would the working moms, housewives and dads in my local area. I would like to start by selling and marketing my product to them firms because I know how I can reachRead MoreMarketing Plan For A Business Plan1159 Words   |  5 PagesFirst Things First: Before you start tutoring, it s important to create a business plan, determine your company’s specialization and create a company image that sets you apart from the competition and attracts your target market. 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The following topicsRead MoreMarketing Plan For A Business879 Words   |  4 PagesA marketing plan completely relies on the marketing strategy which have been used in order to create a solid business plan for any corporate. In absence of strategies, it s an impossible to get large use of market plan. In terms of getting incentive benefits from a business, market plan gives a blueprint outlines of marketing efforts which have to be done to raise good business. A market plan is aimed to create incentive pay plans for business employees to satisfy the business corporate objectivesRead MoreMarketing Plan For A Business1200 Words   |  5 PagesGrowing your business can be a daunting task in today’s business and economic conditions. Competition is fierce in almost every trade . To carve out your own niche in a highly competitive market, you need to align your business plan with your marketing plan from the get-go. Customers today are influenced by several elements In addition to running your business, marketing your products or services has now become a full-fledged endeavor that is crucial to the promotion of a business. The promotionalRead MoreMarketing Plan For A Business Plan1268 Words   |  6 Pagesare invested in making this a business not creating a hobby business for the sake of brewing beer. Therefore, a written business plan is in existence. A written business plan would have been required to secure the government loan. ï‚ · A business plan should be a working document, not created and then placed in a drawer. It should remain on the desk as a reminder of the objectives and goals set forth initially and revised as the business grows and adapts. Every business owner has a goal of profitabilityRead MoreMarketing Plan For A Business Plan792 Words   |  4 PagesMarketing Plan A well-developed marketing plan will provide many benefits. For example, it will help Priority attract clients, keep marketing efforts aligned with the organizations mission and goals, and enable leaders to effectively evaluate the market environment in which they plan to operate. Since Priority is attempting to enter a new market, their marketing plan should emphasize strategies that will enable them to build their client base and gain market share. Additionally, Priority expectsRead MoreMarketing Plan For A Business Plan Competition1715 Words   |  7 PagesReview Research shows that business plan competitions throughout time have always provided a substantial opportunity to improve entrepreneurial education. Student entrepreneurs originally were interested in business plan competitions because it was a place for them to create and pitch their business ideas to real investors and get incredible feedback. However, over time, the location of the competitions, the people competing in the competitions, the robustness of business plans, and the outcome of the