QUESTION

 

Assignment 3: Part C: Your Marketing Plan

For this assignment, you will conclude your marketing plan by developing your hypothetical company’s pricing and distribution strategies, and integrated marketing communications plan.

Note: You should create and / or make all necessary assumptions needed for the completion of this assignment.

Instruction

Create the third part of your marketing plan:

1. Describe or list the feedback you received on Part B of Your Marketing Plan. Explain how you will use the feedback to improve your plan.
2. Develop the company’s pricing and distribution strategy.
3. Develop the integrated marketing communications plan most relevant for your product / service and audience. Develop your message strategy. Develop your media strategy.
4. Develop your public relations, sales promotion, and personal selling plan most relevant for your product / service and audience.
5. Develop your online and direct marketing plan most relevant for your product / service and audience.
6. Develop your social responsibility/cause related marketing plan most relevant for your product / service and audience.
7. Use at least three academic resources that address sustainability and monitoring of effective marketing plans and determine the applicability for your hypothetical company. These resources should be industry specific and relate to your chosen product / service.
   Note: Wikipedia and other websites do not qualify as academic resources.

 Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

 The specific course learning outcomes associated with this assignment are:

2.   Evaluate marketing strategies used to create/communicate customer value.

d.   Analyze integrated marketing communications and its relationship to advertising strategy.

3.   Create an effective marketing plan.

a.   Develop recommendations based on market analysis and strategy.

c.   Develop dynamic strategies for competing.

d.   Develop branding strategies for new products or services.

e.   Develop pricing strategies and distribution channels for products or services.

f.    Develop a fully integrated marketing communications plan for products or services

 

 

ANSWER

 

MARKETING PLAN

Name of Student:

Name of Professor:

Course title:

Date:

Table of Contents

Introduction

The current study will shed light on marketing strategy and the way of enhancing number of targeted customers in competitive market. Along with that, it will demonstrate pricing and distribution strategy of the Eastern cuisine restaurant. The following study will discuss online and direct marketing plan as well as social responsibility to conduct ethical business process.

1. Describing feedback of marketing plan

Previous section of the assignment has described impact of social as well as political and economic factors of a country on business process of The Eastern Cuisine Restaurant. Brand strategy such as creating attractive website as well as the way of targeting customers of all age group will assist in developing marketing communication plan. Based on which, strategic marketing plan will be implemented so as to avoid different risks such as shortage of cash as well as negative environmental impact.

1.1 Explaining the way of using feedback to improve own plan

Feedback will suggest an improvement into overall marketing strategy by sharing information regarding internal and external environment as well as overall marketing strategy. As opined by Tiago & Veríssimo (2014), gathering information based on requirements and life style of targeted consumers by conducting market research and analyzing modern trends is most effective way to enhance brand reputation.

2. Developing pricing and distribution strategy

The Eastern Cuisine Restaurant will maintain $3.5-$17 for different food products such as chicken burger as well as roast potatoes and bakewell tart. As opined by Killian & McManus (2015), an organization can achieve leading position in competitive market by enhancing sales volume and rate of earning profit due to which consideration of distribution strategy is essential. Food products such as roast potatoes and bakewell tart will be purchased from manufacturer at $2.23 and will be sold to buyers at $3.25 to $6 so as to satisfy large number of targeted customers in Virginia.

As per principles of economic pricing theory, same price level of different food products will be maintained in case of enhancing overall inflation rate of a country (Pricing strategies, 2019). This can be happened by reducing distribution cost. Moreover, economy pricing will enable members of marketing team of the company to reduce cost of advertising and campaigning for enhancing awareness regarding food safety of the restaurant of USA.

As per principles of Bucklin’s theory, with the aid of using distribution channels and supply chain network, food products can be easily available to large number of targeted customers (Abdullah-Al-Mamun & Robel, 2014). Due to which, company will be looking at supplying food products by fast supply chain process which will ensure consumers regarding faster and safer delivery process.

3. Developing marketing communication plan

Activity	Date	Actions	Quantity	Estimated deadline	Frequency	Approximate Cost	Involved person	Status
Development of new website	February 2019	Purchasing domain from Go Daddy and getting permission from Google	1 official domain	At the end of February, 2019	Reviewing regular basis	$20	Digital marketer	ongoing
Optimization of website for viewing feedback of consumers	1st week of March 2019	With the aid of SEO optimization, ranking of official page will be optimized on regular basis so that it could come on the first page of SERP	Not applicable	In every month	On weekly basis	$250	Digital marketer of marketing department	Pending
Online communication with national and international customers	April, 2019	Through social media and digital communication channel, marketing department of the company will contact with targeted customers (influenced by Batra & Keller, 2016)	Not applicable	On every week	Regular basis	$250 for networking system and strong broadband per month	Marketing manager	Pending
Market research	Middle quarter of April, 2019	Regular basis market will be analyzed for gathering information regarding trend of modern generation	2 market analyzing tool such as sprout social and quick sprout	June, 2019	On daily basis	$350 for recruiting skilled marketing team members	Marketing manager	Pending
Development of sales promotion by offering discount	April, 2019	Promoting different food items by offering discounts on the selling price for the purpose of satisfying number of targeted customers	Not applicable	On every item	Offering discount on individual food item	$250	Marketing and operation manager	Pending

Table 1: Marketing communication plan

(Source: An integrated marketing communications framework, 2019)

Figure 1: Marketing communication plan

(Source: An integrated marketing communications framework, 2019)

3.1 Developing message strategy and media strategy

Marketing team of The Eastern Cuisine Restaurant will enhance consumer awareness by sharing message of “Tasty and safety foods”. Based on which, company will be able to enhance number of targeted customers and rate of earning profit. Through social media such as Facebook, marketing team of the restaurant will share information regarding discount offer and nutrition level of roast potatoes and bakewell tart which will be most effective way to target customers from all age group in Virginia. Paper media will be followed to share taste and safety of different food items of Eastern Restaurant (influenced by Ashley & Tuten, 2015).

4. Developing public relations and sales promotion technique

With the aid of recruiting skilled members of public agency, public relations will be maintained effectively. In case of adults and senior customers, pr relation will be developed through campaigns and special events. In terms children, cultural and social programme will be conducted. Different promotional technique such as offering discount as well as providing additional food item with one item as well as gift cards will be most effective way to ensure large number of targeted customers (Familmaleki, Aghighi & Hamidi, 2015). Company will be able to increase consumer awareness regarding safety and taste by advertising through social media, TV channels as well as print media. As per views of Papasolomou et al. (2014), publicity is most effective promotional technique to ensure all customers regarding nutrition level of different food items by creating campaign. TV advertisement will be applied for children, whereas print media and social media will target seniors and adults.

Personal selling plan for products

Objective	Recommended Activities	Expected outcome
To meet customer demand on the basis of safest food items	Company needs to maintain regular basis market analysis and conduct survey among group of consumers of Virginia	Positive due to recruiting skilled marketing members
To enhance customer awareness related to safety and tasty of foods of Eastern Cuisine Restaurant	Promotional strategy such as offering discount and additional food item with one item need to be shared through social media and paper media	Positive
To enhance number of targeted customers and rate of earning profit	Low cost and economic pricing strategy need to be followed to provide opportunities to all people belonging from middle and upper class background	Positive

Table 2: Personal selling plan for products

(Source: Personal selling plan, 2019)

5. Developing online as well as direct marketing plan

Online marketing	Activities
Social media (Face book)	Sharing information regarding food quality and discount on food items as well as nutrition level
Digital communication	Contacting on regular basis for acquiring information regarding demand of national and international customers Reviewing feedback on regular basis for improving quality of ingredients into different products
Direct marketing plan	Activities
Face to face meeting	Marketing team could meet directly with consumers for knowing their intention and providing accurate food items (Csikosova, Antošová & Čulková, 2014)
Direct mail	By sending direct mail to consumers, consumer can meet with marketing department of Eastern Cuisine Restaurant so as to provide accurate desired foods
Providing catalogs	Providing catalogs by including information regarding quality as well as safety and tasty of different food items and their price, company will be able to enhance number of targeted customers

Table 3: Development of online and direct marketing plan

(Source: influenced by Csikosova, Antošová & Čulková, 2014, p.1619)

6. Developing social responsibility

Harmful organic materials will not be included into different food items due to which management group of Eastern Restaurant will be highly concerned. As opined by Kolk (2016), in case of having organic and harmful materials as well as toxic materials into different food items, large number of people will be affected badly due to creating dangerous diseases such as salmonella. Production department of restaurant will be highly concerned in producing accurate and best quality food items so that it could not harm different age groups such as children and young people aged 18-26.

7. Monitoring of marketing plan

Marketing manager will be responsible for monitoring overall schedule and daily basis activities so as to meet business objectives such as long term sustainability in competitive market and increased rate of sales volume (Marketing plan monitoring, 2019). This will ensure fulfillment of daily basis target such as number of food items and rate of earning profit based on which the company will be able to conduct ethical business process.

Conclusion

Thus, it can be concluded that following feedback based on social and economic factors, marketing plan will be adjusted. Pricing and distribution strategy will be fixed by observing feedback in the previous section on the basis of target market and segmentation. Online and low pricing strategy will be included in the marketing strategy by observing impact of social factor on business process.

Reference List

Abdullah-Al-Mamun, M. K. R., & Robel, S. D. (2014). A Critical Review of Consumers’ Sensitivity to Price: Managerial and Theoretical Issues. Journal of International Business and Economics, 2(2), 01-09. Retrieved on: 18^th February 2019. Retrieved from: http://www.academia.edu/download/34831750/Journal_of_International_Business_and_Economics_A_Critical_Review_of_Consumers_Sensitivity_to_Price-Managerial.pdf

An integrated marketing communications framework. (2019). open.edu. Retrieved on: 18^th February 2019. Retrieved from: https://www.open.edu/openlearn/money-management/management/business-studies/social-marketing/content-section-5.2

Arseculeratne, D., & Yazdanifard, R. (2014). How green marketing can create a sustainable competitive advantage for a business. International business research, 7(1), 130-133. Retrieved on: 18^th February 2019. Retrieved from: http://www.academia.edu/download/35292352/How_Green_Marketing_Can_Create_a_Sustainable_Competitive_Advantage_for_a_Business.pdf

Ashley, C., & Tuten, T. (2015). Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing, 32(1), 15-27. Retrieved on: 16^th February 2019. Retrieved from: http://www.academia.edu/download/42154764/Research_Work_-_Creative_Strategies_in_Social_Media_Marketing.pdf

Batra, R., & Keller, K. L. (2016). Integrating marketing communications: New findings, new lessons, and new ideas. Journal of Marketing, 80(6), 122-145. Retrieved on: 18^th February 2019. Retrieved from: https://www.researchgate.net/profile/Rajeev_Batra/publication/305079910_Integrating_Marketing_Communications_New_Findings_New_Lessons_and_New_Ideas/links/58499b8108ae686033a768be.pdf

Csikosova, A., Antošová, M., & Čulková, K. (2014). Strategy in direct and interactive marketing and integrated marketing communications. Procedia-Social and Behavioral Sciences, 116(3), 1615-1619. Retrieved on: 19^th February 2019. Retrieved from: https://www.sciencedirect.com/science/article/pii/S1877042814004613/pdf?md5=4028ad600e3ab9b6827b8219cbe499be&pid=1-s2.0-S1877042814004613-main.pdf&_valck=1

Familmaleki, M., Aghighi, A., & Hamidi, K. (2015). Analyzing the influence of sales promotion on customer purchasing behavior. International Journal of Economics & Management Sciences, 4(4), 1-6. Retrieved on: 16^th February 2019. Retrieved from: https://pdfs.semanticscholar.org/0899/c8bb20a9ee913649fed422c8ed28062c5013.pdf

Killian, G., & McManus, K. (2015). A marketing communications approach for the digital era: Managerial guidelines for social media integration. Business Horizons, 58(5), 539-549. Retrieved on: 18^th February 2019. Retrieved from: http://iranarze.ir/wp-content/uploads/2016/10/E2598.pdf

Kolk, A. (2016). The social responsibility of international business: From ethics and the environment to CSR and sustainable development. Journal of World Business, 51(1), 23-34. Retrieved on: 19^th February 2019. Retrieved from: http://daneshyari.com/article/preview/1002092.pdf

Marketing plan monitoring. (2019). entrepreneurship.org. Retrieved on: 19^th February 2019. Retrieved from: https://www.entrepreneurship.org/articles/2007/01/monitoring-and-controlling-marketing

Papasolomou, I., Thrassou, A., Vrontis, D., & Sabova, M. (2014). Marketing public relations: A consumer-focused strategic perspective. Journal of Customer Behaviour, 13(1), 5-24. Retrieved on: 19^th February 2019. Retrieved from: https://www.researchgate.net/profile/Alkis_Thrassou/publication/263108040_Marketing_Public_Relations_A_Consumer-focused_Strategic_Perspective/links/0c96053ca2fb5b6cc8000000.pdf

Park, T., Mishra, A. K., & Wozniak, S. J. (2014). Do farm operators benefit from direct to consumer marketing strategies?. Agricultural Economics, 45(2), 213-224. Retrieved on: 19^th February 2019. Retrieved from: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.939.3561&rep=rep1&type=pdf

Personal selling plan. (2019). udel.edu. (2019). Personal selling plan. Retrieved on: 19^th February 2019. Retrieved from: http://www1.udel.edu/alex/chapt20.html

Pricing strategies. (2019). economicshelp.org. Retrieved on: 18^th February 2019. Retrieved from: https://www.economicshelp.org/blog/1021/business/pricing-strategies/

Tiago, M. T. P. M. B., & Veríssimo, J. M. C. (2014). Digital marketing and social media: Why bother?. Business horizons, 57(6), 703-708. Retrieved on: 18^th February 2019. Retrieved from: http://blog.mahanbs.com/Images/Weblog/blog/WeblogHtmlFile/1-s2.0-S0007681314000949-main.pdf

 

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