Marketing Plan ! + 2

timer Asked: Oct 22nd, 2018
account_balance_wallet $25

Question Description

Product: Smoked Oysters

Company: Pampa

Target market: Tailgaters at the soccer event

Attached is a sample marketing plan. This should help you submit a correct assignment.

Use complete sentences, avoid unexplained lists, and avoid slang. Use a professional writing style at all times. Please submit as a Word document.

Unformatted Attachment Preview

Marketing Plan DeWalt Industrial Tool Company 1. Executive Summary Black & Decker's power tools division represents the largest product group, accounting for 29% of the company’s US revenue. The executive summary in Section 1 offers a succinct overview of the key aspects of the offering. The power tools market comprises three segments: consumer, industrial, and tradesmen. Although Black & Decker is the market leader in the consumer and industrial segments, it has only 9% share of the tradesmen segment. Furthermore, despite the strength of Black & Decker’s brand and the quality of its tools, the company profitability in this segment was virtually zero. This plan outlines our key marketing activities directed at establishing Black & Decker’s market leadership in the tradesmen segment by launching a new set of products and services under the DeWalt brand. Section 2 follows the 5-C framework and is focused on the broad market. 2. Situation Overview 2.1. Market Overview 2.1.1. Customers The power tools market comprises three types of customers: (1) consumers buyers who use power tools around the house, (2) tradesmen - small businesses and independent contractors, such as carpenters, plumbers, and electricians working in residential construction - using power tools on the job; and (3) industrial buyers, such as companies that purchase power tools for employee use. The key attributes that customers typically consider when making a choice are: power, reliability, service, brand image, and price. The relative importance of these factors for each of the three segments is shown below: Key Customer Segments in the Power Tool Market Attributes Customer segments Consumers Tradesmen Industrial Power Low High High Reliability Low High High Service Low High Medium Brand Medium High Low Price High Low Medium 2.1.2. Collaborators Power tools are distributed through a variety of channels that include industrial supply companies (W. W. Grainger), wholesale distributors (serving smaller retailers), large home improvement centers (The Home Depot, Lowe's), smaller It identifies an unmet customer need that the company aims to fulfill with its offering. hardware chains (Ace Hardware, ServiStar), independently owned hardware stores, and mass merchandisers (Walmart, Kmart). 2.1.3. Competitors The key competitors in the US power tool market include Black & Decker, Makita, Milwaukee Tools, Ryobi, Skill, Craftsman (manufactured by Black & Decker and sold as a private label by Sears), Porter-Cable, Bosch, Hitachi, Panasonic, and Hilti. 2.1.4. Context • • • • • • Economic. GDP has increased over the past three years; home and business construction has increased by 3%. Business. Mobile phone penetration has allowed consumers to have greater ability to compare prices; online sales of power tools have increased by 11% over the last 3 years. Technological. Battery technology has improved to allow more non-corded tools. Sociocultural. Not expected to be an important influence. Regulatory. Not expected to be an important influence. Physical. Not expected to be an important influence. 2.2. Company Overview Black & Decker is the world's larger manufacturer of power tools, electric lawn and garden tools, and residential security hardware. Black & Decker’s five largest product groups are: power tools (29% of Black & Decker’s US sales), household products (15%), information systems and services (11%), outdoor products (9%), and security hardware (9%). Black & Decker is the market share leader in the power tools segment, which is the largest contributor to Black & Decker’s growth. The Black & Decker brand was frequently ranked among the top ten most powerful brands in the United States. Black & Decker targets all three customer segments: consumers, tradesmen, and industrial buyers. Due to Black & Decker’s subpar performance in the tradesmen segment, the focus of this plan is on the tradesmen. 3. Goal Our ultimate goal is to improve the share of Black & Decker in the power tool market from 9% to 20% in three years. To achieve our ultimate goal, we have set the following objectives: • • • • Customer objectives. Gain awareness, build preference, and foster adoption of the DeWalt brand by tradesmen. Collaborator objectives. Ensure product availability and promotional support by the distribution channels catering to the tradesmen segment. Competitive objectives. Focus marketing efforts on stealing share from Makita, identified as the key competitor in the tradesmen segment. Context objectives. None Section 3 outlines the company's ultimate goal, as well as a series of subgoals (objectives) focusing on customers, company, collaborators, competitors, and context. • Company objectives. Improve operating income from 10% to 12%. 4. Strategy 4.1. Target Market 4.1.1. Customers Description: Tradesmen - small businesses and independent contractors working in residential construction and using power tools on the job. Section 4.1 follows the 5C framework and is focused exclusively on the target market. Section 4.1.1 identifies the offering’s target customers. Value potential: Tradesmen represent 28% ($420M) of the US power tools market and are the fastest growing (9%) segment of this market. Value drivers: Performance (power, precision, and ergonomics), reliability, service, and brand image. Demographic profile: Small businesses and independent contractors (carpenters, plumbers, and electricians) working in residential construction. Behavioral profile: Use power tools on the job; read trade press (Builder and Electrical Contractor); visit trade shows and home improvement stores, including large home improvement centers, such as The Home Depot and Lowe's, and smaller hardware chains, such as Ace Hardware and ServiStar; and independently owned hardware stores. A detailed description of DeWalt’s customers is given in Exhibit 1. 4.1.2. Collaborators Distribution channel partners: Wholesale distributors (serving smaller retailers), large home improvement centers (The Home Depot, Lowe's), smaller hardware chains (Ace Hardware, ServiStar), and independently owned hardware stores. A detailed description of DeWalt’s collaborators is given in Exhibit 3. 4.1.3. Competitors Section 4.1.3 identifies the key collaborators that will facilitate the success of DeWalt offerings. Section 4.1.4 identifies the key competitors. Makita Electric (50% market share), Milwaukee Tools (10%), Ryobi (9%), Skill (5%), Craftsman (5 %), Porter-Cable (3%), and Bosch (3%). A detailed description of DeWalt’s competitors is given in Exhibit 4. 4.1.4. Context Economic context: Recession, resulting in high unemployment, limited money supply (credit), increased inflation, and slow GDP growth. Business context: Rapid growth of new home construction and remodeling prior to the recession; consolidation of home improvement retailers and rise of big box home improvement centers, including The Home Depot and Lowe’s. Regulatory context: Price dumping allegations against some of the Japanese manufacturers, including Makita, raising the possibility of imposing import duties on certain tools imported from Japan. 4.1.5. Company Section 4.1.5 outlines the specifics of the context in which Black & Decker will launch the DeWalt product line. DeWalt Industrial Tool Company is a strategic business unit of Black & Decker. A detailed description of DeWalt is given in Exhibit 2. Section 4.2 follows the Optimal Value Proposition (3-V Principle) 4.2. Value Proposition 4.2.1. Customer Value Value Proposition Our value proposition to the tradesmen is offering high performance, reliable tools backed by a national service and quality commitment unparalleled in the power tool industry. Our offerings will deliver greater value to tradesmen than the competition on each of the key attributes important to tradesmen as shown in the following table (the first set of ratings reflect the importance of each attribute to tradesmen and the remaining ratings reflect the performance of each competitor on these attributes): Attributes DeWalt’s Value Proposition Importance Competitive to tradesmen Offerings Tradesmen DeWalt Makita Milwaukee Section outlines the key benefits of DeWalt products for target customers. It identifies the key drivers of customer value and highlights DeWalt’s competitive advantage. Ryobi Power High High High High Medium Reliability High High High High High Service High High Medium Medium Low Brand High High High High Low Price Low High High High Medium Positioning Statement For the tradesman who uses power tools to make a living, DeWalt offers dependable professional tools that are engineered to be tough and are backed by a guarantee of repair or replacement within 48 hours. Section identities target customers and the main benefit of the DeWalt offering for these customers. 4.2.2. Collaborator Value Value Proposition Monetary value: Potential to increase sales volume and profit margins. Section outlines the key benefits of the DeWalt offering for collaborators. Strategic value: Increased customer traffic supported by a large promotional budget, streamlining procurement process by having a single supplier for both consumer and professional segments, price protection from discount retailers. Positioning Statement DeWalt power tools are a better choice for retailers than Makita because they offer price protection from discount retailers. 4.2.3. Company Value Section outlines DeWalt’s positioning statement. Value Proposition Monetary value: Potential to increase market share from 8% to 50% and increase margins from 5% to 10%. Increase the valuation of the company by creating a new brand. Strategic value: Ensures leadership positioning in the growing tradesmen segment. Solidifies Black & Decker’s relationship with retailers by offering an attractive product portfolio that enables retailers to have a single-source supplier for both consumer and professional segments. Positioning Statement DeWalt power tools are a great choice because they enable Black & Decker to achieve its profit goals. Notes Section outlines the value of the offering for the company. Because the key aspects of company value are reflected in the company's goal, this section restates the goal outlined in Section 3. Section identifies the internal positioning of the DeWalt offering. ...
Purchase answer to see full attachment

Tutor Answer

School: University of Maryland

Whats up buddy?😀 I completed the assignment and I used APA style for formatting and referencing.😎 Everything should be clear but if you have any questions..hit me up and I will explain..😇 Otherwise if the work is satisfactory, go ahead to complete and review the question below..👇

Pampa Smoked Oysters Company
Executive Summary
Situation Overview
Market Overview
Company Overview
Target Market
Value Proposition
Consumers Value
Collaborators Value
Company Value

Running head: MARKETING PLAN


Marketing Plan


Pampa Smoked Oysters Company

Executive Summary
Pampa Smoked Oysters Company is a leading American seafood firm, which deals
explicitly with smoked oysters. The company is based in San Diego, California but has business
networks across the United States of America. Pampa Smoked Oyster Company's annual sells
revenue ranges from one point five million dollars to two million dollars with a workforce of
fifty employees. The employees of the firm include qualified seafood Chefs, waiters, an
accountant, and legal service experts. Pampa Smoked Oysters target the readily available market
in social events specifically the numerous football matches that are held across the state of
California, United States of America.
Pampa Smoked Oysters Company's mission is "to provide and serve our highly esteemed
customers with quality seafood experience." The seafood firm seeks to offer a unique dietary
experience in social occasions. Pampa Smoked Oysters Company aims to achieve customer’s
products preference by serving different varieties of smoked oysters, i.e., Ginger flavored oyster,
chilly flavored oysters.
Pampa Smoked Oysters Company objectives are to offer a unique seafood experience by

flag Report DMCA

Good stuff. Would use again.

Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors