Introduction to Marketing Plan
Every organization working is dependent upon business plan as well as over marketing plan which is a part of business or organizational activities. For this plan which provides a decent scheme for better formulation and then implementation of organizational activities in order to attain a particular objective. In this report, the learning will focus over working and marketing plan of Atlantic Quench Cranberries Inc. It is an agricultural corporation that operates its business from United States. Organisation was established by three cranberry growers who belongs from Massachusetts and New Jersey (Baker, 2004). This learning will focus on various environmental factors and techniques that can boost the business of firm and facilitate in advancement of market share. This learning will also provide a marketing plan outline for better business opportunities of Atlanti
A) Tools and techniques for evaluation of market environment and marketing strategies
Political factor: The argumentations and policies of government can have impact over marketing procedure of Atlantic Quench Cranberries Inc. It is vital for organization to have modifications in their merchandises according to health standards and other related policies or rules of USA government for better work opportunities (Bass, Jain and Krishnan, 2000). In this firm need to make sure that all juice products are healthier meeting the needs of government. If organization will not focus on government policies then firm mat face decrease in profits ratio.
Economic factor: The financial instrumentation of nation also impacts the sales and profit of Atlantic Quench Cranberries Inc. New York Stock Exchange crisis will also affect the sales of organization. It also forces company to have modifications in their products and pricing. Economy impacts the cost and marketing plan of action of the organization (Beller, Weiss and Patler, 2007).
Social and cultural factor: It has been identified nations are having contrastive social civilization, belief and feelings that impact the marketing design of Atlantic Quench Cranberries Inc. Healthy drinking formulation can also affect the working of social group. It forces organization to sort modifications in their product line as they introduce more juice products to attract potential consumers. Organization can reduce the uses of on non-juice of products as per the cultural needs (Betz, 2011).
Technological factor: In the current market conditions the online services is having great influence on business of organization. Atlantic Quench Cranberries Inc. can lunch its online website for better services to have better sales and meet the target. Adjustment and change is involves in maintaining sales to carry on in competitive market.
There are some tools that Atlantic Quench Cranberries Inc can use for development of marketing strategies such as, mind maps, balanced scorecard and porters five force model. Mind maps are optical tools that are utilized in strategic design to indicate the relation among various items or marketing factors (Bowhill, 2008). A mind map is a draw that include words, ideas or images which are related to initial central idea. The Balanced Scorecard is a tool which is used to supervise the execution and effectualness of strategic designs. It is a way for social group to track development on strategic designing goals across diverse collections that are balanced in respect of other factors (Blankson and Kalafatis, 2007). Porter five force model will facilitate organisation by rendering information regarding competition, supplier, buyer and customer.
- Enjoys high profile in US market.
- Constant product innovation
- Aggressive marketing strategies.
- Broad portfolio of products
- Lack of brand awareness in other markets.
- They only target young age people (Bowhill, 2008)
- Increased customer concerns in comparison to bottled juices.
- Growth in heather products
- Growth in fruit drink industry
- Increase in competition
- Increased marketing innovation by other competitors
- Business is restricted to US market (Blankson and Kalafatis, 2007).
B) Necessity of customer and market place
Mission: To render the best quality cranberries products with innovation in product line.
Vision: To serve best in industry and become leader.
- To have increase in sales by 10 % at the end of year 2016.
- To introduce two new products in market with focus on innovation.
- To have increase in level of customer loyalty by 20% till year 2016.
There are number of strategies through which organisation can meet its objectives with a better focus on its mission and vision. Organisation can focus on differentiation strategy that will facilitate in accomplishment of new product introduction objective. Atlantic Quench Cranberries Inc can introduce new product in market that will have some different features as compare to other products that are available in market. In the support of this, it can also be said that the modifications in targeting will also one of strategy that will facilitate in objectives accomplishment (Muhamad, Melewar and Alwi, 2012).
Atlantic Quench Cranberries Inc can target old age people and sports persons too that will render a support for accomplishment of increase in sales objectives. It has been identified that the increase in number of customers will also increase the sales of product. At last, another objective of organisation is to have increase in customer loyalty ratio. In the support of this, the social group can have better focus or concentration over customer needs (Terpstra, 2000). The improved identification of customer needs will make understand the firm about product weakness and strength. The product is meeting the needs of customers or not. If organisation will have better need identification then product will meet the customers’ needs which will improve sales as well as increase the customer loyalty towards product or brand. Other than this, company can also have changes in its product price as per the needs of customer and market. Organisation can have use of various communication channels to promote the products (Cavalcante, 2013). These factors will also help management to accomplish goals of increase in sales as well as advancement in loyalty.
Marketing plan is essential to accomplish desired goals and define the path to success for better organizational activities. It renders information to possible consumers and charges awareness regarding products and services. In the Atlantic Quench Cranberries Inc marketing planning plays an important role to spread out their business and assist organisation to define sections to make sure that grouping are acquiring proper knowledge regarding their merchandises and place (Gnizy and Shoham, 2014). Consumer’s behaviour is contrastive towards the various product of the organization (such as children are more attracted towards non juice products and young towards juice products).
Every social group required to focus over effective marketing preparation for boosting their sales of products and services. Marketing planning is to render information among clients and advancing the awareness of their trade name. The successful and effective marketing plan always focuses on the consumer behaviour and retail strategy (Muhamad, Melewar and Alwi, 2012). It has also been identified that the success of every organisation is dependent upon its sales and behaviour of customers towards its products. This statement indicates that it is vital for Atlantic Quench Cranberries Inc to have improved focus on customer needs and expectations for better designing of marketing plan. For example, if organisation will design its marketing plan without understanding of customer needs then it might be possible that it affects the working of firm and lead management to great failure or decrease in profit margin ratio (Terpstra, 2000). The proper information regarding customer also facilitate firm to design marketing plan according to diverse needs of various customers from different civilisation.
It is also vital for Atlantic Quench Cranberries Inc to have improved focus on marketplace because it provides a better opportunity to understand the market conditions which are beneficial for firm while developing a marketing plan. The proper information and study of marketplace renders a knowledge about suppliers, competitors and behaviour of customers (Cavalcante, 2013). For example, if organisation will have proper knowledge about suppliers then it will facilitate management to attain resources at low cost which is beneficial for firm and renders an effectiveness to marketing plan. It will also provide information about competitors working and their products (Gorp, 2011). It will facilitate firm to understand the strategies, strength and weakness of competitors products which is vital for better and effective accomplishment of marketing plan objectives.
C) Marketing Mix of Atlantic Quench Cranberries Inc
Marketing mix is an instant construction of modern marketing and academically it is named as the set of governable instruments that the firm mixes to have better production and to target the market wants. This indicates that it can influence the business and demand of Atlantic Quench Cranberries Inc products and services. It includes some factors like product, price, place and promotion.
Product: According to structured study of current scenario it has been identified that Atlantic Quench Cranberries Inc has classified its product line in two ranges (Hammervoll, 2013). In the first year the organization will continue with its current juice product range and non-juice drinks range. In juice product range there are number of products like cranberry original juice, cranberry mix juice, etc. while on the other side, non-juice drinks is consisted of cranberry sauces, cranberry cordial juice, etc. In the second year the organisation will introduce some new products in market to have increase in sales and market share such as mango juices, cranberries based other products. In the third year the Atlantic Quench Cranberries Inc. will have some modifications in newly launched products such as they can have change in taste of mango juice by adding more sugar, etc (Dalgic, 2006). In the support of this, they can also have some mix flavours in market with focuses on current product line.
Price: It is one of critical factor that affects the perception of customers so it is necessary for every organisation to have better focus on it. The Atlantic Quench Cranberries Inc decides its pricing on the basis of market needs and information collected about market value of firm and products (Boone, 2012). This facilitate firm to have balance among organisational needs and customers needs for better success. Company can continue with its current strategy in first year. In the second year the organisation can have decrease in its pricing of current product line that will also increase the sales of products because customers need is quality products at low cost. In the third year the Atlantic Quench Cranberries Inc can have increase in price of some specific products those products can be termed as premium products.
Place: It is a location where organisations deals with its products and try to sales them with motive to have increase in sales and profit ratio as well. It has been spotted that Atlantic Quench Cranberries Inc. is currently focusing on non-retail sales for better business opportunities (Dalgic, 2006). For example, firm sales products through vending machine in leisure, hotel, restaurants and other sectors where they can increase the sales and market ratio as well. Company can continue with its current strategy in first year. In the second year the organisation can focus on opening of its own retail store to render a better support to its products. It will also increase the sales of product (Boone, 2012). At the last year, the Atlantic Quench Cranberries Inc. can have expansion of its business by opening two more retail stores. It will render a better convince to customers and improve the market share ratio of firm.
Promotion: It is a medium through which organisation promotes its products and create awareness among customers regarding their products and brand. Atlantic Quench Cranberries Inc mainly focuses on advertisement activities over television and magazines to target the audience at nationwide (Aljukhadar and Senecal, 2011). Company can continue with its current strategy in first year. They are promoting themselves as healthy products and benefits of cranberries. In the second year, organisation can introduce its official website or have advertisement of its products on social media such as facebook, youtube, etc. In the last year, the Atlantic Quench Cranberries Inc can organise some events and hunts on online to have better advertisement of its products (Blankson and Kalafatis, 2007). Other than this, in third year the organisation can also sponsor some big events and charity functions.
D) Marketing plan
Marketing planning is organized procedure of processing products as per user necessity and have effective promotional schemes. In this plan Atlantic Quench Cranberries Inc need to focus on various factors for better business like segmentation, price, promotion, etc.
Role of Marketing Plan in Corporate Strategy
Corporate strategies are the collection of business activities like financial designing, purchase preparation and human resource management (Birgelen and Wetzels, 2005). In existing strategy, organization is focusing on strategic alliances for business expansion. This will affect the incomes of organisation and number of clients as well. It will also facilitate in better accomplishment of organisational goals in effective manner.
Target Market Segment
The objective of organization is to render low cost healthier products to its consumers. In respect of this, they can focus on middle income level group. Organization can also focus on impulsive buying and target the sports men and women by introducing convenience juice drinks (Decker, Wagner and Scholz, 2005). The juice drinks are also popular among old age people and young age persons who looking for healthy products. The better focus on market trend and targeting group will provide better services and also cut down cost and boost the profit.
The objectives of marketing plan for Atlantic Quench Cranberries Inc are as follows:
- Increase market share in United states
- Improve customer base
- Expand business in UK by more focus on healthier or fresh products.
- Improved use of promotional techniques and tools (Frank, 2011).
Techniques for New Product Development
In order to create new product the organization can follow two techniques:
Test Marketing: Test marketing adverts to test new plan of action in real market preconditions. This technique will render a possibility to test the new marketing program under real market. The testing can be among some grouping of people (How to write a marketing plan, 2014.).
Observation: While using this method Atlantic Quench Cranberries Inc can notice and record behaviour and attitude of consumer towards market and agricultural corporation. This will assist them in introducing new merchandises to attract more customers and increase sales.
The New product will be introduced under the brand name of Atlantic Quench Cranberries Inc. The product will be offered in market with unique features which are formulated according to needs of customers and UK citizens (Top Advantages of Marketing Strategies, 2013.). The firm can offer snacks with flavour of different fruits like cranberries, etc. This will help people in attaining healthy meals in their engaged life. These products will be ready to eat meals. It will increase the sales and profit margin ratio of organisation.
Pricing of merchandise has an important impact on incomes and earnings of business. Marketing objective of organization is to render optimum services or health products at low cost. To attract UK consumers, increase in customer base and advancement in market share. In the respect of this Atlantic Quench Cranberries Inc will follow reduced pricing schemes for the new merchandises (Birgelen and Wetzels, 2005). This pricing plan of action is appropriate match for target social class (middle income people). This strategy will facilitate organization to attain more profit and increase number of customers.
Distribution is the procedure of servicing the product to consumer in an accessible and cost effective manner. In the support of this, organization can focus on retail stores. This will boost the sales ratio of firm and facilitate in meeting the organizational goals. Organization can have vending machines at colleges and several corporate sectors (Decker, Wagner and Scholz, 2005). It has also been identified that firm can introduce its own website to sell products in market in effective manner. The description of product will be available at website and customers can order online.
Atlantic Quench Cranberries Inc can focus on various communication transmissions to advance its new merchandises awareness like social media, magazines, advertisement on television and online website. Organization can render a support to products and service by effective use of social media tools. It is the cheapest technique to render information in quick and effective manner (Frank, 2011). These promotional schemes are the foremost way to attract middle income people to become user og their products.
Implementation is the crucial activity of Atlantic Quench Cranberries Inc marketing plan. Before employing the design, manager needs to believe in components like geographic placement, behaviour of users, business scheme, promotional methods, etc. This is very essential to have equilibrium among all the components and have better ensure about the occurrence of marketing plan (Hammervoll, 2013). The marketing plan of Atlantic Quench Cranberries Inc will build a great impact over organisational activities. The positive outcome can be rendered in the construction of enhancing market share, sales and incomes.
E) Tactical marketing decisions
There are number of tactical marketing decisions that Atlantic Quench Cranberries Inc can have for better accomplishment of organisational goals and improved strategic marketing plan. The market conditions of firm are good and they are looking for business expansion in UK and improvement in customer base in US. The key function of strategic marketing plan is to promote the products and render information to public in context of product and brand (Boone, 2012). This action is based upon promotion of products. In promotion the management can have decisions regarding sub tasks that provide support to promotion like advertising, sales promotion, personal selling and public relations. The actions and decisions regarding these sub tasks are known as tactical decisions. Tactical decisions are formed for short term period which provides a better support to sales and promotional activities (Dalgic, 2006). This indicates that tactical decisions are related to working of strategic marketing plan. In the support of this, it can also be said that organisation can have some tactical decisions such as, rules and policy formation to improve the quality of products and taste of juices.
It has also been identified that to have effective tactical decisions it is vital for management to focus on situational analysis. It renders an information to management regarding environmental conditions. The proper understanding of environmental conditions will facilitate management to have efficient tactical decisions that will render a support to strategic marketing plan (Aljukhadar and Senecal, 2011). In the support of this, it can also be said that proper information regarding market trend and customer behaviour will improve the effectiveness of implemented marketing tactics by working according to market needs.
F) Strategic marketing tools within global context
There are number of strategic marketing tools that Atlantic Quench Cranberries Inc can use for business expansion in global market. In this support of this, it can be said that organisation can have business or strategic alliance with leading food and beverage companies in order to enter in global market. For example, organisation can have strategic alliance with Tesco PLC or any other retail firm to enter in UK market (Baker, 2004). It is beneficial for firm because it provides opportunity to sell products in retail store which is one of objective of firm. This will facilitate in improvement of market share and profit ratio by increase in sales. Other than this, firm can also adapt franchise system to have advancement in UK market. This will also help in increasing their market share as well as profit ratio. Once the product awareness is increased in UK by effective use of Tesco PLC alliance the organisation can open its own retail store (Betz, 2011).
In the support of this, it can also be said that Atlantic Quench Cranberries Inc can focus on Ohmae 3Cs model. This will provide better information to management about customers, competitors and current status of company in market. This improved information regarding these factors will also facilitate firm in better strategic marketing decisions (Bowhill, 2008). For example, with an effective use of 3Cs organisation can understand the market conditions of UK and have effective decision for better business opportunities. It will also make understand about the competition level in global market and this information is vital for effective marketing plan implementation.
G) Marketing concepts, theories and models
Market offering: This component of marketing procedure is utilized by Atlantic Quench Cranberries Inc to customized the merchandises and services according to customer demand in the marketplace. It renders details regarding market condition and trends for development of various innovative products (Terpstra, 2000). For example, Atlantic Quench Cranberries Inc understands the need of presenting new juice drink of snack products in the marketplace and organization design plan for introduction of juice merchandises at various locations and retail stores.
Marketing mix: In the next component of marketing procedure social group is use of 4P’s for determining price, place, promotion action and products for the new marketplace. For illustration, Atlantic Quench Cranberries Inc followed the marketing mix components and render wide range of juice and non-juice products with improved quality (Cavalcante, 2013). This helps management to attract more customers by effective use of various marketing tactics such as digital merchandising and advertisements in news document and magazines. In pricing social group can use low pricing scheme to have impact on clients and attain positive outcomes in context of sales (Gorp, 2011). Organization can have its stores in prime positions that will heighten the number of consumer.
Business environment: Market preconditions and advancement in food and beverage industry will also affect the working and growth of Atlantic Quench Cranberries Inc or marketing procedure (Bowhill, 2008). Government argumentation, economy and trends in marketplace need to be examine in the process of marketing and presenting new merchandise and services. To amend the business administration of Atlantic Quench Cranberries Inc can applies the rules and standards.
H) Information regarding investigative actions
Monitoring is all about supervising actions in development to make sure they are on-course and on-schedule in fulfilling the subjective and performance targets. It will help Atlantic Quench Cranberries Inc to have effective implementation of marketing plan. In other words, it can be said that
Development of an effective strategical program is only half part of the battle and organisational success. The effective business or marketing plan always require proper monitoring (Blankson and Kalafatis, 2007). It helps in proper implementation and make understand the management about changes that are taking place in organisation due to implementation of marketing plan. There are number of monitoring tools that organisation can adopt for proper monitoring of marketing plan. Such as management can have examination of sales ratio and profit ratio and compare it with current data and previous data. Company can also measure it by changes in number of customers or production ratio (Gorp, 2011).
As per the above study it can be concluded that every organization working is dependent upon business plan as well as over marketing plan which is a part of business or organizational activities. For this plan which provides a decent scheme for better formulation and then implementation of organizational activities in order to attain a particular objective. It has also been identified that Atlantic Quench Cranberries Inc can have better business opportunities by proper designing and implementation of marketing plan. It will boost the performance effectiveness and market share ratio of firm.
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