A Marketing Plan
A marketing plan is written to describe the position of the market of a firm, and the strategies the firm undertakes to market its products for the time that plan covers. The aim of developing a marketing plan is to show various steps that the management should take to achieve the marketing objectives of the firm (Johnson 12). My company has developed a hands free weeding tool for the garden. Since the product is new, many people are not aware of it. Therefore, I decided to come up with a marketing plan that will help the company meet its marketing objectives.
Market Growth Potential and Competitive Analysis
The hands free weeding tool has low demand in the market because many people are not aware of its existence. However, its market growth potential is high because of the fair price it is selling. The fair price will make it attractive to its users. Despite the small number of customers, the product will reveal its usefulness to the users in the future, with its fair price and the ease to use. The company expects high profits from the rise in demand of the product. We aim to be among the best suppliers of weeding tools in the region (Choffray, Jean and Gary 23). According to Fisher et al., competitive analysis is a critical part of the marketing plan. Therefore, we have developed a product that is worth competing with the other gardening tools from other companies. The product has unique features such as fuel free usage that makes it cheap to use.
We have approached our customers to help us to locate places where gardening takes place. The product has several uses depending on what is grown in a specific region. For example, it can be used for weeding, pruning as well as watering plants.
Target Market and Positioning
We target the gardeners and farmers in the region, and we plan to extend the market to other regions in other countries through advertising and promotions, to attract many customers. We have engaged in market positioning to ensure effective communicate to customers, and getting their feedback, which compels us to act. We engage in door-to-door marketing where we interact with customers, and we have developed several brands of the product to suit customers’ preferences.
Choffray, Jean-Marie, and Gary L. Lilien. Market Planning for New Industrial Products. New York: J. Wiley, 2008. Print.
Fisher, Patricia H, Marseille M. Pride, and Ellen G. Miller. Blueprint for Your Library Marketing Plan: A Guide to Help You Survive and Thrive. Chicago, Ill: American Library Association, 2006. Print.
Johnson, Winslow. Powerhouse Marketing Plans: 14 Outstanding Real-Life Plans and What You Can Learn from Them to Supercharge Your Own Campaigns. New York: AMACOM, 2004. Web.