Marketing Plan
Marketing Plan
Period 3
By KORNVIKA KORVORAKUL, OLEKSANDRA SEITS, LARENCE BLACK, JIANI LIU
Contents 1. Executive Summary……………………..…………..…………….p2 2. Situation Analysis………………………..…………..…………….p3 3. SWOT Analysis…………………………………………………..……p5 4. Key Assumptions…………………………….………………………p6 5. Marketing Objectives & Strategy.…..………………………p6 6. Action Plans….………………………………………………..………p7 7. Budget………….………………………………………………..………p8 8. Controls…….….………………………………………………..………p9
EXECUTIVE SUMMARY
External analysis of Loonies marketing plan for period 1 revealed that during mentioned and further periods, the economic situation on the market is predicted to be stable with a low inflation rate (2-3%) which is expected not to cause any significant changes in company’s function. In general term, Loonies’ performance is very successful and the company is mostly favoured by Juliet market’s customers and investors. However, Sonite product market is highly competitive, where Loonies’ projects such as Loop (high-ended, Professionals and High Earners targeted product) and Lock (low-ended, Savers and partially Shoppers targeted model) take the 2nd and the 6th places respectively in terms of popularity and profitability.
One more valid point analysed in current market situation is Loonies main competitors. Loop faces threats from ROCK and TONE, which have a similar set of features and functions but slightly more expensive then Loop. At the same time, Lock is under a pressure of SOFT and MOST products with significantly higher brand awareness and more superior features than Lock. All mentioned above characteristics are important for all segments of consumers. Thus, apart from affordable price, customers are interested in power, display, design of the product. Furthermore, shoppers will have a biggest average growth rate over the next 5 period and currently no product in the Sonite market has been able to satisfy shoppers with the
Period 3
By KORNVIKA KORVORAKUL, OLEKSANDRA SEITS, LARENCE BLACK, JIANI LIU
Contents 1. Executive Summary……………………..…………..…………….p2 2. Situation Analysis………………………..…………..…………….p3 3. SWOT Analysis…………………………………………………..……p5 4. Key Assumptions…………………………….………………………p6 5. Marketing Objectives & Strategy.…..………………………p6 6. Action Plans….………………………………………………..………p7 7. Budget………….………………………………………………..………p8 8. Controls…….….………………………………………………..………p9
EXECUTIVE SUMMARY
External analysis of Loonies marketing plan for period 1 revealed that during mentioned and further periods, the economic situation on the market is predicted to be stable with a low inflation rate (2-3%) which is expected not to cause any significant changes in company’s function. In general term, Loonies’ performance is very successful and the company is mostly favoured by Juliet market’s customers and investors. However, Sonite product market is highly competitive, where Loonies’ projects such as Loop (high-ended, Professionals and High Earners targeted product) and Lock (low-ended, Savers and partially Shoppers targeted model) take the 2nd and the 6th places respectively in terms of popularity and profitability.
One more valid point analysed in current market situation is Loonies main competitors. Loop faces threats from ROCK and TONE, which have a similar set of features and functions but slightly more expensive then Loop. At the same time, Lock is under a pressure of SOFT and MOST products with significantly higher brand awareness and more superior features than Lock. All mentioned above characteristics are important for all segments of consumers. Thus, apart from affordable price, customers are interested in power, display, design of the product. Furthermore, shoppers will have a biggest average growth rate over the next 5 period and currently no product in the Sonite market has been able to satisfy shoppers with the