Marketing Plan Essay Example | Topics and Well Written Essays - 250 words - 3

Marketing Plan - Essay Example First and foremost, marketing research should be carried out in order to establish the targeted customers. In this case, the target market includes the young and old people who are conscious about their health care issues. This will help us to establish the major threats and opportunities that might be faced by the product. This is followed by setting the marketing objective of this new product. In this case, the main objective is to achieve 10 % of the market share in the beverages industry during the first year of the product launch. The marketing strategy will involve the careful use of a marketing mix of price, product, place and promotion. When the marketing strategy has been outlined, then it is turned into specific action programs. This includes outlining the tasks and the people who will perform them in order to achieve the stated objectives. After implementation of this particular marketing plan, the company formulates control measures with the aim to monitor progress and to allow management to review implementation results and identify the areas that would be performing poorly. This ought to be an ongoing process. The first goal is customer satisfaction. The company targets to achieve a high level of customer satisfaction and improving on it every year. In so doing, the company aims at maximizing on opportunities for repeat business. In all cases, if a customer is satisfied by the goods offered in a company, they will be the biggest marketing tool since they will spread the word about goods and services. The second goal is to achieve good planning and reporting systems. This will help the company attract more investors and lenders hence, will serve top guide as a building pillar for the company. The third goal is employee training and development. This will help the company achieve maximum input and output from its employees. It facilitates efficiency such that things are done according