Description
Next part of the strategy plan: We will continue with your market strategy plan. I have expanded the outline provided earlier with some questions to help you build the plan. It's difficult to make a good "one-size-fits-all" plan so feel free to add to this if something is more appropriate for your product or service.
Marketing Strategy Plan: Part 2
- Marketing strategy (mostly chapter 7)
- Marketing objectives and needs satisfaction (about 1 page)
- What is your value proposition? This handout gives an outline for a value proposition, however, it is a GUIDE, not a TEMPLATE. Developing a Value Proposition.docx download
- What marketing strategy is appropriate for your product/service? Why?
- Competitive positioning (about 1 page)
- What does your competitive map show you? Here's a short video from another class that explains perceptual or competitive maps further.
- https://youtu.be/Fq-LjLELAOY (Links to an external site.)
- Marketing tactics (2 or 3 pages)
- Product/Service (chapter 9, 10 and lectures and handouts posted in Module 4)
- Describe your product levels (At least your first four levels; we’ve not a lot of time to think too far forward.)
- What about your product or service differentiates you from your competitions
- Consider your product category/industry. About where are in the product life cycle is this industry?
- Consider the consumer-adoption process. Which step or steps do you anticipate being the hardest for your customers?
- If you are a service company or if your product has a number of services attached to it (about middle of the continuum and above), how might you address intangibility, etc.?
- For service companies which service gap do you anticipate to be the most troublesome and how might you attack it?
- Pricing (Chapter 11 and and lectures and handouts posted in Module 4)
- Using the Pricing Policy Module, determine the price for your product. (1 page)
- Set your objective (s)
- Determine demand/Estimate costs: Make an educated guess at how price sensitive customers are likely to be, how elastic demands might be. You might be able to find margins for the industry or in a similar industry. (EXAMPLE: Margin is 25% and price $10. Cost is 10 x(1--.25) or $7.50)
- Analyze Competitor: Who will you surpass/equal/be less than in price and why?
- Select the right pricing method: What seems to make the most sense based on the data you have, or what is typical in the industry. (e.g., markup is almost universally used for retail.)
- What sort of discounts and allowances are you planning to use, based on your product and you marketing strategy?
- Using the Pricing Policy Module, determine the price for your product. (1 page)
- Product/Service (chapter 9, 10 and lectures and handouts posted in Module 4)
- Marketing objectives and needs satisfaction (about 1 page)
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Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
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Marketing Strategy Plan
Name
Institution
Course
Date
2
Marketing Strategy Plan
Marketing Objectives and Needs Satisfaction
Value Proposition
Are you a health-conscious person to track your lifestyle habits and maintain fitness? If
so, then Beyond Limits, a fitness service organization, has got you covered. Through Sanus, our
fitness app, you can now trail your lifestyle habits aided by the company’s professional
nutritionists, diagnosticians, and health trainers to reduce the danger of lifestyle disorders
eventually. Unlike other fitness service organization apps, Sanus is armed with numerous charts
that help the users handle their general health, including heart rate, blood pressure, and sugar
levels. The organization will also endow the user with customized diet charts, lifestyle strategies,
and nutrition plans according to their specific health conditions. Furthermore, the fitness
application will also be combined with a chat facility that will enable the users to community
with Beyond Limits health professionals and other users to share their experiences. The
application is available on the google play store for android phones and the App Store on
iPhones.
Marketing Strategy
It is worth noting that Applications are frequently detected outside the app stores. This
being the case, over fifty percent of individuals come across applications through their close
family members, friends, or even colleagues, primarily through social media (Heinig, 2018).
With this in consideration, social media is considered a proper approach to marketing a mobile
application since its extremely persuasive and generates a buzz swiftly. Therefore, the marketing
strategy for Sanus the fitness app would be through social media (Heinig, 2018). However,
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marketing through social media would necessitate unique, sharable, and pertinent content. Since
social media users are fixated on authenticity, the top tactic will entail highlighting the app’s
benefits. Thus, two approaches would be used. The first is paid advertisements on social media.
This is a valuable way of reaching the target market since such ads lead up to fifty percent of app
downloads (Li et al., 2020). The second approach would be through using influencer marketing.
According to Voorveld et al. (2018), this is a brilliant strategy since combining with influencers
lets the business showcase its app to a presently engaged and interested audience.
Competitive Positioning
Max
Sanus
Bodyworks
Health
Benefits
KardioWork
DevMuscles
Min
low
Customization level
High
Each axis of the graph is a continuum. The competitive positioning map above is focused
on two dimensions: health benefits and customization levels. The y axis represents the health
benefits that are brought about by the fitness applications. The health benefits range from
minimum to maximum. On the x-axis is the customization level, which entails how the fitness
applications services are tailored to meet client needs. The competitive maps illustrate that the
Sanus mobile fitness application has high customization and health benefits. As compared to
other fitness applications, Sanus seems to be well endowed in health benefits and customization.
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This presents a competitive advantage since it is an app that customizes its services to meet user
needs. Other apps such as Bodyworks gave high health benefits but low customization levels. On
the other hand, the DevMuscles app has high customization levels but minimum health benefits.
Marketing Tactics
The product/ service levels are practical concepts when considering various aspects, such
as product/service, client value, and marketing segmentation. This being the case, the Sanus
fitness application’s service levels include core benefits, actual service, and finally augmented
service (Fillmore, 2020). Starting with the first level, the Sanus fitness application's core benefits
include healthy nutrition, exercise, and regular body checkups and evaluations to ensure the
user’s proper health. The following service level is the actual service. This level entails app
support that the users might require in case of any complexities or aspects they cannot
understand. This is followed by other elements such as in-person visits between the app’s users
and the organization’s nutritionists, diagnosticians, or health trainers. The final service level is
the augmented service. This may include long-term contracts between the users and the
organization, including periodic checkups and free health consultations.
There are certain aspects of this service that differentiates the business from competitors.
This being the case, the service differentiation can be said to be through the fitness application’s
overall structure. The app is designed to propagate maximum health benefits while at the same
time customizing the health services according to the user’s needs. This means that a user with
diabetes will have his/her app tailored differently from a user without any existing conditions.
Another differentiating factor from competitors is that users can now trail their lifestyle habits
aided by the company’s professional nutritionists, diagnosticians, and health trainers to reduce
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