Marketing plan and sales strategy

This assignment consists of two sections:

  1. Marketing plan and sales strategy (an MS Word document).
  2. Marketing budget (using the Business Plan Financials Excel Template).

To successfully complete this assignment, you must attach both documents to the submission area as separate files and then click Submit.

Reminders
  • Your company, whether it’s a startup you created or one based on the snack food company scenario, will operate in a 100-mile radius from your home address. Your goal is to reach $1 million in sales by the end of the second year.
  • Be sure to follow the guidelines, whether you chose the snack food company or your own startup company.

Section 1: Marketing Plan and Sales Strategy

In MS Word, write the 3–5 page marketing plan and sales strategy section of your business plan, in which you:

  1. Revise the company’s target market based on the feedback received in the Week 3 discussion thread.
    • Be sure to include demographic, geographic, lifestyle, psychographic, purchasing patterns, and buying sensitivities in the target market description.
  2. Assess your chosen company’s market competition.
    • Use the factors listed in the graphic in your textbook labeled “Assess the Competition” (page 125), to assess the company’s market competition.
      • When assessing the competition, specify the exact company and particular product or service you are competing against. For example, Coca Cola offers a portfolio of products, such as water, fruit juice, and cola. Are you competing against Coca Cola’s fruit juice product? Or its cola product?
    • Be sure to detail your plan to differentiate yourself from the competition.
  3. Outline the company’s value proposition and create a marketing slogan/tagline for the product.
    • The value proposition tells your customers why they want to do business with you.
    • You need to know what message you want to convey in your marketing slogan before selecting the marketing vehicles in the next step.
  4. Specify the marketing vehicles you will use to build your chosen company’s brand and justify the key reasons they will be effective.
    • Marketing vehicles are ways to promote your product. Examples include social media, sponsored events, trade shows, and sampling. You will use a combination of these tactics.
    • Planning to use online marketing tactics? Consult the “Online Marketing Tactics” worksheet on page 177 of your textbook to guide your response.
Formatting

Format your assignment according to these requirements:

  • This course requires the use of Strayer Writing Standards (SWS). For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.
  • Typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
  • You must include headings in your paper for each major topic.
  • Include a cover page containing the assignment title, your name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
  • Include a source list page. All sources used must be listed in the source list page and have a corresponding in-text citation. Citations and references must follow SWS format. The source list page is not included in the required page length.
    • Note: There is no minimum requirement for the number of resources used in this assignment.

Section 2: Marketing Budget

In this portion of your assignment, you will develop a marketing budget. This budget is critical to helping you determine how much it will cost you to reach your market and achieve your sales goals. To create your marketing budget, you will use the Business Plan Financials Excel Template. This is the document you downloaded using the access code you purchased from the Strayer Bookstore.

Reminders
  • You will complete only the Setup and Marketing Budget worksheets for this assignment; be sure to submit the entire Excel Template, however.
  • You have already worked on your marketing budget in the Week 5 discussion. Incorporate information from your post and the feedback you received into this section of your assignment.
Instructions

Develop a marketing budget, supporting your marketing plan and sales goals, in which you:

  1. Prepare the Setup worksheet for your selected company based on the appropriate guidelines instructions.
  2. Prepare the Marketing Budget worksheet for your selected company based on the appropriate guidelines instructions. When filling out the Marketing Budget worksheet in the Business Plan Financials Excel Template, do the following:
    • Begin with the current year and complete a marketing budget for the business’s first two years.
    • Leave at zero any marketing vehicles you do not plan to use.
    • Reminder: All marketing activities involve costs. If social media represents a significant portion of your marketing plan, assume you will incur advertising costs; reflect these in your marketing budget. Even if a social media site charges nothing to use it, you will need to use company resources to manage the site, execute your social media marketing campaigns, and most likely pay for ads on that site.
    • Do not leave the Marketing Budget worksheet blank assuming you will not have any marketing costs.
    • Do not complete all the rows; only fill in the costs for the marketing vehicles you will actually use. These must match the content you described in Item 4 of Section 1 of this assignment.

Learning Outcomes

The specific course learning outcome associated with this assignment is:

  • Create a marketing plan for a company that identifies a target market, market competition, a company message, marketing vehicles, and a budget.

SNACK FOOD COMPANY MARKETING PLAN AND SALES STRATEGY 1

 

 

 

 

 

 

 

Snack Food Company Marketing Plan and Sales Strategy

Veronique Duperval

Andrea Banto

BUS 599: Strategic Management

10/08/2020

 

 

 

 

 

 

 

 

 

 

 

 

 

SNACK FOOD COMPANY MARKETING PLAN AND SALES STRATEGY 2

 

The company’s Target Market

The considerations of many people around the company as low- and middle-income, who

are the immediate consumers of the snacks-popcorns, have a vibrant but price-sensitive

consumption pattern. Income levels are rising due to the rapid urbanization and change in the

consumers’ buying habits. Presently, snacking is considered a pastime that alleviates boredom

that has been adopted socially among many people when they are away from friends. Moreover,

they are used to satisfy hunger pangs on a busy day. The market’s realized trends include: youths

consume more snacks in a day since most of them are not committed to meals, exchange of

snacks among the society as a way of showing friendship and during time pressures majorly for

those schooling (Aghazadeh, 2016)

Due to the somewhat impulse nature of the consumption habits, traditional sales outlets

are considered the best due to their convenience and immediate proximity, unlike the shopping

done form large outlets. Increased demand is indicated by the rapid population increase and the

changing lifestyles in the region. Village settlements that are out of reach of the recent trends in

trade channels are taken into consideration, plus the highly populated urban areas easily

accessible. There is frequent purchasing from the families living on the street, and the presence

of the infrastructure networks that are undeveloped limits the customers’ mass shopping

potential.

Market Competition

In the competitive analysis of the company, opportunities and threats are identified and

will define the company’s functionality regarding its competitors. Snack food and bakery

products are highly competitive in the market. The soft pretzel produced by the J&J Corporation

will stimulate competition in the market. The product quality, services offered to customers,

 

 

SNACK FOOD COMPANY MARKETING PLAN AND SALES STRATEGY 3

 

awareness of brand names, allocated prices to the products, the consumers’ tastes, methods

employed in distribution, and the promotions to promote sales are the factors to be dug upon in

the market set up. The company to come up with a lot of chains that will aggressively expand

hence bringing stiff competition in the market. (Farris et al., 2015)

For the snack food company to achieve its goals in this rivalry among the competitors in

the market, the customers’ requirements are made a priority by being in touch with the needs and

the trends regarding the customers’ choice. Proper identification of the culture and assets of the

company competitors enhances the proper implementation of the required skills. The company’s

goal metrics are then connected to the business targets, which, after that, impact the output

products and its readiness. Through innovations that disrupt the status quo, growth will acquire

the consumers who should be retained. There will be a maximized output and pausing where

necessary to manage the current situation and exit the market when necessary. The potential risks

are afterward outlined and will foster the company’s adoption of the possible shortcomings in the

business stimulus. Despite the budget being the most substantial dependency, acknowledging

other risks in the planning section is vital for the success of Snack Food Company in this

competitive environment. (Campbell-Hunt, 2015)

Value Proposition and the Tagline

If the customers choose to buy products from the Snack Food Company, they promise to

deliver valuable commodities to them. How the company operates, what it stands for and reasons

for deserving their business is provided by an intent stipulated in the value proposition. The

statement “Manufactured from natural products” is compellingly worded and will convince the

consumers on the value that is added if they buy the product. The filling of the customers’ needs

by the products, the added benefits in the products and why the products are similar in the market

 

 

SNACK FOOD COMPANY MARKETING PLAN AND SALES STRATEGY 4

 

are explained hence appealing to the customer’s decision-making drivers. The economic moat of

the company will be maintained, and therefore, the more the moat, the bigger and more resilient

the company becomes the competition. The structure of the proposition is made memorable

hence the tag line, Manufactured from natural products. $10,000 is used in the practice of trading

skills before entering into the real market.

Promotion of the Product

The marketing on our vehicles will aid the implementation of our marketing plans and

strategies for our company. A few channels will also be utilized to promote the organization’s

items. Online networking is a priority to the organization, and therefore Facebook page can be

created by the promoting group to put a few adverts that will foster sales. For sharing photos, an

Instagram record is opened; hence the clients can see most of our food snacks. Regarding the

publicizing organizations and companies like Pepsi utilize the channel. Composing a blog is also

considered shared online through networking that highlights vital components of our products.

Moreover, our products can be advertised through print media channels to provide the customers’

necessary information. (Haleblian et al.,2019). The group occasions that showcase our products

will be supported by the company, which fosters the company’s picture; hence its products are

made famous since their visibility is increased.

In summary, the company should consider fixing cost and time efficiencies, which are

very helpful in depicting constructive responses from the customers of the Food Snacks

company. There will be operational development that is more valuable, and therefore, the

company should strive to keep its stock up in an unchallenged way. The competitive advantages

if taken into account, it will help in being the game-changer.

 

 

SNACK FOOD COMPANY MARKETING PLAN AND SALES STRATEGY 5

 

Reference

Aghazadeh, Hashem (2016). “Business, Market, and Competitive Analysis (BMCA) Tools and

Techniques.” Principles of Marketology, Volume 1. pp. 187–247

Farris, P., Bendle, N., Pfeifer, P. and Reibstein, D., Marketing Metrics: The Manager’s Guide to

Measuring Marketing Performance, [E-book edition], FT Press, 2015, Chapter 1

Campbell-Hunt, Colin (2015). “What have we learned about generic competitive strategy? A

meta-analysis”. Strategic Management Journal. 21 (2): 127–154.

Haleblian, J.; Mcnamara, G.; Kolev, K.; Dykes, B. (2019). “Exploring Firm Characteristics That

Differentiate Leaders from Followers in Industry Merger Waves: A Competitive Dynamics

Perspective.” Strategic Management Journal. 33 (9): 1037–1052.

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