Developmentof Market Plan
Developmentof Market Plan
Amarket plan forms a base of any organization which normally is usedto update employees about the current status of the company togetherwith the upcoming directions to be followed. A market plan guaranteesorganizations to meet the expectations of the customers and have astrong competition with other companies which produce the sameproduct in the market.
Thesisstatement:Although a market plan is something which is known by organizations,the closure of companies demonstrates that many still do not know thebest procedure on how to develop.
Marketinggoals:obtaining financing which assists to increase distribution and toexpand the business across the globe. Another goal involvesincreasing the organization revenue by forty-five percent each year.
Strategiesthat can be used include giving customers chance to order products oftheir interest and also giving them discounts to commodities (Kotler,Shalowitz, & Stevens, 2008). Distribution strategy will involvetransportation of products up to the clients selling destinations.
Mainobjective: To increase the profit of the company by twenty percent atthe end of the year. The main tactic to be used is to form groups andthe manager of the company becomes the teams` leader. Also, eachgroup is led by one member who is selected by the group members.
Inthe past few years the company had only been making a small amount ofprofit increase and it provided a big challenge for the organizationto expand. Data collected and the end of each year proved that therewas no time the company had made a profit increase of ten percent peryear. Therefore, the statistics influenced greatly in the formationof the objectives. Internal disagreement is something which is commonin many organizations and sometimes it slows down the development ofthe company.
Thebest method on how to resolve an internal disagreement is by givingeach member of the group equal chance to air their views concerningstrategies to be used in the market (DE PARDO, & INVEEN, 2015).If all members’ decisions have been considered, it becomes easy todetermine the main objectives and strategies to be used by theorganization.
Shrinkingfunding is considered as one way to save the organization money andassist it not to run bankrupt. Minimizing staff so that companies canminimize funding is too costly for the organizations as resultcompanies will end up making a small amount of profit from thebusiness. Having few employees’ means that there will be no peopleto market the business at the ground level where they can meet withthe customers face to face. Meeting with customers ensures thecompany gets good feedback on what to do to improve its productivity(Gagnon, 2016). But when we look at shrinking funding it makescompanies depend mostly on outside agencies which on the other sidetend to benefit a lot from the business. At the end of it all, thesmall amount of profit attained has to be shared between the agencyand the company hence limiting the company to receive maximum profit.
Usingthe third party helps a lot to accomplish the goals, strategies,objectives and tactics of an organization. The third party comes withnew tactics which can assist the company to have a competitiveadvantage in the market. Most of the time third parties play animportant role of marketing the company in other regions where theorganization itself cannot reach. It ensures the company is knownacross the globe and the kind of products it deals with. One o thetactic which I can employ to facilitate a good relationship with thethird party is by sharing duties. If all members can identify theirroles, it becomes easier for an organization to advance and henceprofit increase will be realized.
Kotler,P., Shalowitz, J., & Stevens, R. J. (2008). Strategic marketingfor health care organizations: Building a customer-driven healthsystem. San Francisco, CA: Jossey-Bass. ISBN: 978-0-7879-8496-0
Gagnon,E. (2016). The Marketer`s Action Plan (MAP): Six Steps to DevelopingEffective Marketing Plans in B2B Marketing Programs. InternationalManagement Review, 12(2),56-59.
DEPARDO, E., & INVEEN, D. (2015). Marketing Matters. InvestmentAdvisor, 35(6),36-40.