Essay Instructions: Please read carefully and include everything listed under.
Marketing Plan base on Mercedes-Benz
The product I chose for my marketing plan is new C-Class: C300 Sport 4dr Sedan (3.0L 6cyl 6M) My point of view is that from the age range of 25 to 35 year old will intent to buy BMW over Benz, because in general the BMW’s products hold inside the younger prospect’s mind than Benz and Benz seen to made for older more. C300 is a very good product to catch the younger prospect’s attention. Its look and price are all reasonable. It is around 32000 much cheaper compare to BMW.
Therefore, in order to enlarger Benz’s market instead of promoting a super expensive top model car, we will work on the C300, high quality and inexpensive for the age of 25 – 35.
Introduction of the Mercedes-Benz’s Company, its history and performance. Connect them with to new C300 Sport 4dr Sedan
Executive summary
Presents a brief summary of the main goals and recommendations of the plan for management review, helping top management to find the plan’s major points quickly. A table of contents should follow the executive summary.
Current Marketing Situation:
Describes the target market and the company’s position in it, including information about the market, product performance, competition, and distribution.
This section includes:
A market description that defines the market and major segments, then review customer needs and factors in the marketing environment that may affect customer purchasing
Like -Targeted segment, customer need, corresponding feature/benefit, market environment (market trend, potential market, market growth rate, market share….)
A product review that shows sales, prices, and gross margins of the major products in the product line
Like -Function, (corresponding feature/benefit), sales, prices, gross margin
A review of competition, which identifies major competitors and assesses their market positions and strategies for product quality, pricing, distribution, and promotion
Like -List competitors, assess competitors’ market positions and strategies for product quality, pricing, distribution, and promotion (4P’s), (competitors’ market share)
A review of distribution that evaluates recent sales trends and other developments in major distribution channels
Like list distribution channels, sales trends, developments in major distribution
Threats and Opportunities Analysis: (A view on Benz and its competitors)
The SWOT Analysis:
Strengths,
Weaknesses,
Opportunities - might be competitors’ weaknesses,
Threats - might be competitors’ strengths
assesses major threats and opportunities that the product might face, helping management to anticipate important positive or negative developments that might have an impact on the firm and its strategies. You’ll want to highlight and explain each issue within the SWOT.
Objectives and Issues:
States the marketing objectives that the company would like to attain during the plan’s term and discusses key issues that will affect their attainment. For example, if the goal is to achieve a 15 percent market share, this poses a key issue: How can market share be increased?
Tips: be specific (suggest specific sale volume, market share, revenue, margin, break-even, etc.)
Marketing Strategy:
Outlines the broad marketing logic by which the business unit hopes to achieve its marketing objectives and the specifics of target markets, positioning, and marketing expenditure levels. It outlines specifics strategies for each marketing mix elements, and explains how each response to the threats, opportunities, and critical issues spelled out earlier in the plan.
It must include: Positioning, Product Strategy, Pricing Strategy, Distribution Strategy, Marketing Communications Strategy, and Marketing Organization
Action Programs:
Spells out how marketing strategies will be turned into specific action programs that answer the following questions: What will be done? When will it be done? Who is responsible for doing it? And how much will it cost?
*This is one of the most important components as it is your true test of implementation of your innovative plan.
Tips: think about what are the events or campaigns that can be done to reach the objectives (consider your marketing strategy)
Budgets:
Details a supporting marketing budget that is essentially a projected profit-and-loss statement. It shows expected revenues (forecasted number of units sold and the average net price) and expected costs (of production, distribution, and marketing). The difference is the projected profit. Once approved by higher management, the budget is the basis for materials buying, production scheduling, personnel planning, and marketing operations.