Marketing Plan Part B & Integrated Marketing Communications Plan Paper

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Description

For this assignment, you will conclude your marketing plan by developing your hypothetical company’s pricing and distribution strategies, and integrated marketing communications plan.

Note: You should create and / or make all necessary assumptions needed for the completion of this assignment.

Instructions

Create the third part of your marketing plan:

  1. Describe or list the feedback you received on Part B of Your Marketing Plan. Explain how you will use the feedback to improve your plan. ( Brand Strategy: Good job, would have liked more rationale on how these choices resonate with your target market. You described your branding strategy and the brand promise, but it did not show a clear knowledge of the meaing of a brand promise. Most of your branding elements of the name, logo, slogan and brand extension were provided.
    Target Market: Both primary and secondary target markets are relevant and justified. You used all the relevant bases of segmentation to describe your target market.
    Positioning Statement and Perceptual Map: The perceptual map clearly shows where you fall within the competition. Your positioning statement is relevant and includes the statement of who you are talking to, who you are better than and why you are better than them.
    Consumer Behavior: Great use of scholarly resources to validate your target market's consumer behavior while tying the behavior to your brand name, slogan, brand extension, and positioning statement. This explains how your brandine elements will create the need recognition to begin the first phase of the buying process. )
  2. Develop the company’s pricing and distribution strategy.
  3. Develop your public relations, sales promotion, and personal selling plan most relevant for your product / service and audience.
  4. Develop your online and direct marketing plan most relevant for your product / service and audience.
  5. Develop your social responsibility/cause related marketing plan most relevant for your product / service and audience.
  6. Use at least three academic resources that address sustainability and monitoring of effective marketing plans and determine the applicability for your hypothetical company. These resources should be industry specific and relate to your chosen product / service.
    Note: Wikipedia and other websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

2. Evaluate marketing strategies used to create/communicate customer value.

d. Analyze integrated marketing communications and its relationship to advertising strategy.

3. Create an effective marketing plan.

a. Develop recommendations based on market analysis and strategy.

c. Develop dynamic strategies for competing.

d. Develop branding strategies for new products or services.

e. Develop pricing strategies and distribution channels for products or services.

f. Develop a fully integrated marketing communications plan for products or services.

Unformatted Attachment Preview

Running head: MARKETING PLAN PART B Marketing Plan Part B Name Institution 1 MARKETING PLAN PART B 2 Marketing Plan Part B Feedback Description and How to apply it to Improve the Plan The feedback will form a firm basis for the improvement of the entire marketing plan in a bid to present a vital and compelling source of sufficient about the proposed hypothetical business. The feedback is broken down into the specific components of the initial part of the marketing plan. As such, the discussion on how I will use the feedback to improve the plan will be presented as per the order of the feedback. To increase the clarity of the product description and the physical location of the business, I will include additional content as follows to increase the clarity: The Company will provide a variety of healthy foods under the RF brand all of which will be made up of natural ingredients such as vegetables, fiber, and whole grains. The products will not utilize any high-calorie ingredients and cholesterol. All RF brand products will not include any refined ingredients so as to achieve the business objective of serving the healthy foods' market with a new set of products. I will also include additional details of the planned business location as follows: The Company's offices will be located explicitly in 10089 N Wolfe roads, 19700 Vallco Parkway, Cupertino, CA 95016, USA. It will be on the fifth floor, suite number seventeen, of The Marketplace Shopping mall, opposite to the Main Street Cupertino. The feedback will also be critical in redesigning the mission statement of Redemption Foods in a bid to present a more comprehensive statement. I will restate the mission statement as follows: To provide all health-conscious with the best natural and healthy foods across the entire US by employing the most recent kitchen technologies in a bid to ensure that our customers derive the highest utility in healthy eating. We aspire to exploit the current opportunity in the MARKETING PLAN PART B 3 food market to generate substantial benefits for the customer by respecting their values and beliefs in our endeavors and emerge as the most preferred retailer by our customers. The last aspect of the feedback to be integrated into the marketing plan for improvement is the modification of the environmental analysis. The thorough and objective environmental analysis presents valuable information about the current conditions that would affect business inception and operation. Such a review will be useful to provide useful insights to serve as a firm basis for decision-making in the business. First, I will include the demographic aspect of the external environment analysis to present a robust business plan. I will add this excerpt to the marketing plan: Gagliardi (2015) argues that the demographic environment of a business is made up of the specific persons who make up its market. As such, it unearths different aspects of the population based on various aspects such as gender, race, age, and location. Therefore, Redemption Foods will be focused on different demographic classes such as the old and adolescents. The elderly Americans make up a great proportion of people with food-related illnesses. Therefore, they will form an ideal target for RF because they are also health-conscious and would not hesitate to purchase such foods for the sake of their health. The elderly people are also associated with relative income stability; therefore, they can afford the naturally healthy foods despite being priced higher than the refined foods. The business will also focus on the employed and middle-level income earners in the American cities because they can afford the products and are also wary of their eating habits. To improve the competition element of environmental analysis, I will rephrase it t the following: The US food industry is a dynamic sector characterized by the presence of many companies offering different types of food. However, few of them offer healthy foods while the rest are specialized in the provision of high-calorie and refined foods (Lo, 2015). First, the most MARKETING PLAN PART B 4 significant competitor for the business will be McDonald's; a company that has dominated the US food market for decades. Recently, the company realized the opportunity in the provision of healthy foods across the country and introduced a variety of healthy foods. As such, the company is already established in the market and could enjoy certain competitive advantages such as economies of scale and extensive client base. It will, therefore, pose a significant challenge to Redemption Foods because the new establishment will begin its operations from scratch. Redemption Foods Company will also face competition from other industry players such as Starbucks and Dominos because there is a section of the US food customers which is still inclined to refined fast-foods. The sellers of fast foods will, therefore, pose stiff competition despite offering different products. I will also include the economic factors that may influence the operation of the business in the US markets. The prevailing economic conditions and issues will significantly influence the establishment of Redemption Foods in the US. For instance, the country's economic stability and levels of inflation would significantly impact the business. High inflation levels would adversely affect the business' ability to succeed. High-interest rates would leave the business and its customers with minimal disposal income; thus, crippling its success chances. The level of economic growth will also affect business operations in the country. If, for instance, the country’s per capita income is high, the consumer price index will rise; implying that the chances of high sales will be high. Branding Strategy, Brand Name, Logo, Slogan, and Brand Extension Branding has been utilized as a potent tool for the successful strategic push of a product or service through target markets. Different branding strategies are applied in the development of MARKETING PLAN PART B 5 viable action plans for companies to differentiate their product offerings from those offered by their rivals. Branding entails the creation of distinctive designs for products as well as the different advertising campaigns initiated with the aim of attracting and retaining clients through the establishment and maintenance of differentiated presence in the marketplace (Rooney, 1995). Therefore, there is a great need to develop a viable and robust branding strategy for Redemption Foods Company products to ensure that they successfully infiltrate the market by beating its competition and other market challenges. To leverage the advantages of a vibrant branding strategy, the company will use the logo presented above as its primary identity on the media. Because the company offers a wide range of healthy foods, ranging from burgers to bread, the logo design was selected as a general representation of the company’s food brands. It would be illogical to include all the food brands on the logo because it would be too clogged. Based on the fact that the inception of the company MARKETING PLAN PART B 6 and decision to invest in healthy foods was the increased health concerns related to unhealthy eating, the business name, Redemption, was selected as an indicator of the company’s objective; to redeem the American society from the threat of increased health problems as a result of unhealthy eating. Imperatively, the logo presents a person seeping something from a branded cup. It also presents an orange bowl with two eating sticks to reiterate the inherent nature of the products offered (spoons are artificial- sticks are natural). The validity of branding is often strengthened by the introduction of captivating brand slogans to capture the attention of the viewers. Imperatively, the logo is laced with various slogans, including "eat healthy: live healthy," "redefining healthy eating," and "eat to live." The success of the brand will be boosted by the adoption of a brand extension, “Redemption Food Burger.” The development will be expected to steer the brand through the market to achieve substantial success. The brand extension is critical because the company will offer a wide range of burgers; thus, offering the customers a wide range from which to make choices. Overall, Redemption Foods will create and push a strong brand into the American food market through the RF Burger brand extension in a bid to succeed in the market. The concept is based on the brand extension authenticity, which acts as a potent driver for the success of brand extension (Spiggle, Nguyen & Caravella, 2012). The success of the brand extension will also be improved by the fact that the company has captured a cultural and consumer relational perspective in the American food market, drawing from the danger posed by unhealthy eating habits. Analysis of the primary and Secondary Markets The formulation of thorough and objective analyses for the primary and secondary markets to be targeted by redemption foods will be a critical element of segmenting the markets in a bid to facilitate effective planning. As such, the primary and secondary markets for MARKETING PLAN PART B 7 Redemption Foods in the US will be analyzed through various criteria. First, the markets will be examined based on demographics. Due to the growing consciousness about consumer health across the United States of America, the country has experienced substantial transition in the consumption patterns as individuals shift from consuming inorganic foods to the consumption of organic foods which are deemed healthier than the former. As such, the organic food market in which Redemption Foods will operate has been classified as the fastest growing food sector in the country. Consumers are now concerned with the purchase of more organic foods compared to refined foods (Dettmann & Dimitri, 2009). It is, therefore, evident that the demographic analysis of the US food market will be centered on the populations that are either health conscious or require healthy foods due to their current health statuses. Demographically, the company will target the millennials and baby boomer populations who make up a larger proportion of the country's population. Moreover, the millennials form a unique set of individuals whose primary interests are the optimization of their current health and prevention of its deterioration in the future. As such, they are associated with high probabilities of seeking healthy foods with sufficient vitamins, calcium, fiber, and other necessary nutrients (Granderson, 2014). They avoid unhealthy foods such as those with cholesterol and high-calorie load. They are also reasonably educated and understand the primacy of healthy living. Baby boomers, on the other hand, form an attractive generation that the company can leverage to segment its markets and increase its sales and profitability. First, the baby boomer generation is highly educated, employed, and is believed to control more than 70% of the country’s disposable income (Granderson, 2014). The population is also associated with a high preference for healthy foods, as they do not wish to get old or develop health complications as a result of unhealthy eating. As such, baby boomers have high preferences for foods laced with such nutrients as antioxidants, omega 3, calcium, and MARKETING PLAN PART B 8 whole grains. Therefore, Redemption foods will leverage the market opportunities created by the sensitivity and consciousness about the health of the two population generations. The fact that millennials and baby boomers are educated, they are aware of the current health issues, such as obesity, associated with unhealthy eating in the country. Therefore, they would make a potential market for the company’s products because they would not wish to plunge themselves into such complications. Another demographic category of the US population that would form a lucrative market segment for the company is the elderly adults. It is essential to highlight that old age comes with several health challenges as the body becomes weak with time. They are associated with certain health complications such as heart disease, diabetes, and arthritis; all of which are effectively managed through dietary mechanisms because they lack a cure. As such, the American Heart Association, for instance, outlines specific tips for picking healthy foods for the elderly in a bid to ensure that their health remains stable (AHA, 2019). The health consciousness among elderly Americans and their caregivers will create a potential market segment for the company to exploit. Therefore, redemption foods will skillfully design customized recipes to provide healthy foods to cater to this demographic segment in the market. The market for Redemption Foods can also be analyzed on the basis of geographical profile because the potential customers could be living in different areas. It is essential to highlight that the most significant potential for the company on a geographical segmentation is held in the cities and other urban areas. Urban residents in the US are highly informed about the massive damage caused to the human body by the consumption of unhealthy foods. Such information is readily available to the urbanites from a wide variety of information sources such as news and publications that are readily available in the cities. As such, they are health- MARKETING PLAN PART B 9 conscious and prefer purchasing healthy foods at the expense of unhealthy foods in a bid to safeguard their health stability. The disposable income of the urban population is also high compared to those living in rural areas. Therefore, the business will also focus on offering its products in the urban areas; especially along the busy streets and shopping centers to leverage the opportunity created by the residents. Redemption Foods will also leverage the opportunity created by the online community whose members hardly walk to the food outlets to make their purchases. Imperatively, the company will establish a robust online shopping platform to enable the online community in placing orders and maintaining contact with the business. Like all other great competitors in the food industry, Redemption Foods will leverage online and mobile ordering for the customers to make their purchases. It is critical to highlight that online food and grocery purchases are expected to take up 20% of the American food market by 2025 (Daniels, 2017). The situation presents the company with an excellent opportunity to offer its products online and deliver to different customers. The presence of the Internet and continuous technological developments make the utilization of online purchasing platforms inevitable as online stores are gradually replacing the traditional brick and mortar food outlets. Therefore, adoption of the online selling platform will increase the company’s competitiveness and pacify its market segmentation strategy for more product offerings. Overall, the segmentation criteria to be employed by the company are believed to add to its agility and ability to succeed in the provision of healthy foods in the market to the identified segments. MARKETING PLAN PART B 10 Positioning Statement and Perceptual Map A viable brand positioning statement integrates and dissects the company's mission statement to present an elaborate insight into how the company's product offering would facilitate the achievement of a specific experience by the consumer. The product positioning statement is, therefore, a reliable source of information about the target customers and the desired experience to be generated by the product consumption. A brand positioning statement for Redemption Foods will be: To reach all demographic categories with and without health consciousness with healthy foods in a stylistic manner aimed at invoking rich experiences, improving their health statuses, and generate sustained tastes, high quality, and high nutritional value of natural foods at affordable prices. We offer an opportunity for customized food preparation to increase customer confidence in the naturalness of our products through the ingredients. The positioning statement of Redemption foods can be demonstrated in the perceptual map below, which compares its perceived leadership over its two competitors, McDonalds and Starbucks. Imperatively, the superiority of Redemption Foods' brand will be centered on the integration of a great taste with the high nutritional value of the natural foods. The company will leverage a team of employees to build great recipes and prepare outstanding foods to beat the competition. Compared to the competitors, Redemption Foods will occupy a higher position in the market due to its investment in nutritional value and taste. MARKETING PLAN PART B 11 Relevant Customer Behavior The target demographic markets for Demographic Foods will be the millennials, baby boomers, seniors, urban dwellers, and the online community. The target markets are made up of rational individuals whose preference for healthy foods will be centered on the level of satisfaction derived from its consumption. They are fragile consumers because the slightest deviation from the provision of healthy foods would scare them away from the business. They are health conscious and can afford the products; therefore, they need nothing more than healthy foods. The appropriateness of the positioning statement for the target markets is based on the fact that the occupants of such markets are aware of the importance of healthy eating to their lives. As such, the positioning statement aligns their need for healthy foods to their willingness to pay for the same and derive substantial value from consuming such products. The positioning statement outlines the intention of the business in meeting the target market's needs at a cost. The MARKETING PLAN PART B 12 logo and slogan used for Redemption Foods are based on the need to impress the customers to select the products for the best of their health statuses. Eating healthy foods implies living healthily because most health complications in the US are associated with eating habits. The slogan leverages that knowledge among the consumers to present the, "Eat healthy: Live healthy" slogan as a captivating bait for the target markets. It is a seductive tool to induce the buyers to purchase the commodities. The logo presents simplicity; a common feature of natural things. For instance, it entails two eating sticks as a way of exhibiting the naturalness of the products by eliminating spoons; which are artificial components. MARKETING PLAN PART B 13 References AHA. (2019). The American Heart Association Diet and Lifestyle Recommendations. Retrieved from https://www.heart.org/en/healthy-living/healthy-eating/eat-smart/nutrition-basics/ahadiet-and-lifestyle-recommendations Daniels, J. (2017). Online grocery sales set to surge, grabbing 20 percent of the market by 2025. Retrieved from https://www.cnbc.com/2017/01/30/online-grocery-sales-set-surge-grabbing20-percent-of-market-by-2025.html Dettmann, R., & Dimitri, C. (2009). Who's Buying Organic Vegetables? Demographic Characteristics of U.S. Consumers. Journal Of Food Products Marketing, 16(1), 79-91. doi: 10.1080/10454440903415709 Gagliardi, N. (2015). Consumers Want Healthy Foods--And Will Pay More For Them. Retrieved from https://www.forbes.com/sites/nancygagliardi/2015/02/18/consumers-want-healthyfoods-and-will-pay-more-for-them/#582fc5c775c5 Granderson, D. (2014). Report: 3 Health-Conscious Consumer Demographics at the forefront of Emerging Functional Food Trends. Retrieved from https://www.prnewswire.com/newsreleases/report-3-health-conscious-consumer-demographics-at-forefront-of-emergingfunctional-food-trends-300010641.html Lo, K. (2015). We ‘Don’t Trust the Quality of Food’: Customers on Why They Cut Down on McDonald’s, Starbucks, Chipotle. Retrieved from https://www.thedailymeal.com/news/eat/we-don-t-trust-quality-food-customers-why-theycut-down-mcdonald-s-starbucks-chipotle/32715 MARKETING PLAN PART B 14 Rooney, J. (1995). Branding: a trend for today and tomorrow. Journal Of Product & Brand Management, 4(4), 48-55. doi: 10.1108/10610429510097690 Spiggle, S., Nguyen, H., & Caravella, M. (2012). More than Fit: Brand Extension Authenticity. Journal Of Marketing Research, 49(6), 967-983. doi: 10.1509/jmr.11.0015
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Explanation & Answer

Attached.

Marketing Plan Part C
Thesis Statement: The success of redemption Foods in the foods industry through the provision
of healthy food choices is significantly boosted by the adoption of strategic market planning
approaches to increase its ability to drive its products into the market with significant ease and
surpass the prevailing competition.
I.
II.
III.

Feedback Description and How to apply it to Improve the Marketing Plan
Company’s Pricing and Distribution Strategy
Public Relations, Sales Promotion, And Personal Selling Plan Most Relevant for RF
Products
a. Public Relations
b. Sales promotion
c. Personal Selling Plan

IV.

Online and Direct Marketing Plan Most Relevant for RF’s Products and Audience

V.

Social Responsibility Marketing Plan Most Relevant for Redemption Foods and its
Audience


Running head: MARKETING PLAN PART C

Marketing Plan Part C
Name
Institution

1

MARKETING PLAN PART C

2

Marketing Plan Part C
Feedback Description and How to apply it to Improve the Marketing Plan
A marketing plan is a dynamic tool that allows users, individuals and organizations, to
leverage the opportunity for continuous development or modification in a bid to ensure it
successfully achieves its objectives of driving the products into the market. As such, I will
capitalize on the feedback received on part B of the marketing plan to improve the marketing
plan to ensure that the I close on the identified loopholes and leverage the highlighted strengths
to present a robust method for Redemption Foods. On the part of brand strategy, the choices’
resonance with my target market is based on the high level of utility to be derived by the
customers from consuming our food products. Because the products are focused on the healthyconscious markets, we believe that the customers are aware of the massive health benefits to be
generated by our products. Therefore, our choices resonate with the target market on a “key and
lock" principle in that healthy foods will significantly save the market from the crisis created by
the consumption of unhealthy foods. The brand promise by Redemption Foods is integrated into
its value proposition (Anker et al., 2012). The brand promise can be clearly identified from the
company’s slogan of "eat healthily; live healthily.” The promise for consumers is that they will
get the value of their money by consuming healthy foods that will boost their overall health.
While explaining the concept of brand promise by RF, it is critical to highlight that diet has
significant effects on the physical, mental, and psychological health of the consumers. Therefore,
the brand promise is to offer substantial health benefits to the consumers. Overall, I will leverage
the foundation of the marketing plan to reach the target market by exploiting all available

MARKETING PLAN PART C

3

opportunities in different markets. The business will also leverage its perceptual position in taste
...


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