The Marketing Plan , All Quiz Answers with Assignments.

The Marketing Plan

Week 1 Assignment :

A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame.A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals. A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible. It contains some 
historical data, future predictions, and methods or strategies to achieve the marketing objectives. Marketing plans start with the identification of customer needs through a market research and how the business can satisfy these needs while generating an acceptable return. This includes processes such as market situation analysis, action programs, budgets, sales forecasts, strategies and projected financial statements. A marketing plan can also be described as a technique that
 helps a business to decide on the best use of its resources to achieve corporate objectives. It can also contain a full analysis of the strengths and weaknesses of a company, its organization and its products.

The marketing plan shows the step or actions that will be utilized in order to achieve the plan goals. For example, a marketing plan may include a strategy to increase the business's market share by fifteen percent. The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share.The marketing plan can be used to describe the methods of applying a company's marketing resources to fulfill marketing objectives. Marketing
planning segments the markets, identifies the market position, forecast the market size, and plans a viable market share within each market segment. Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.

Week 2 Assignment :

1-     Financial Objectives

We’re planning to sell 2000 units of Nissan LEAF


2-     Non-financial objectives

-   Brand objectives -

For the population in Germany to come to know about the electric vehicle and also to adopt it as a better mode of transport


-   Internet Based Objectives

A new FB, Instagram, Twitter account has been created with the intention of promoting the Nissan LEAF through the medium of internet. We’re planning to have 500k likes on FB page, 750k followers on Instagram and 350k followers on twitter by the time we’ll be launching the car


3-     Customer objectives

Since an electric vehicle is being launched for the first time, our motive will be customer attraction.
 At a later stage we’ll move to customer retention


4-     Strategic objectives


There are different ways in which the customers are segmented. There’s private buyers and company buyers. Private buyers have 6 sub-groups, Gearheads, epicures, purists, functionalists, road-haters, negatives.


Then there is segmentation based on their lifestyle behaviour – Sensible classics, No-nonsense neutrals, Attention seekers, Freedom lovers.They can also be segmented into female buyers. Buyers and Non-buyers is another way they can be segmented.There’s also Geographic segmentation, segmenting according to the cities who have higher population. They could also target private companies who can then show that they are into green modes of transportation. They could target government agencies.Looking at all the above segments and analysing its reach across the German diaspora, it suits best if we target  the female population, as they seem a bit less represented in the car industry and targeting a vehicle for them which satisfies their needs and is in the price range which they can flaunt to others, whilst being easy on the pocket it being an electric vehicle.

Week 3 Assignment :

Product strategy:
Nissan is one of the leading car brands in the world. Since the product line up of Nissan is huge, we can take a company wise arrangement of its product mix in its marketing mix. The brand Nissan itself is a large seller of budget and most volume cars are sold through the Nissan brand.

Pricing strategy
Depending upon its strategy of offering vehicles across segments and categories, the pricing function works in direct correlation with the product function, and Nissan has been know to offer reasonable and logical price to its cars. This is the reason for its widespread popularity and reliance. It has a varied price catalogue, which futher appeals and attracts customer from all income groups. 

Distribution channel

Nissan is global brand and present across the world. Talking of the sales and service function, Nissan has strategically placed its complete dealership network, in almost all major cities and related popular towns to stranghten, and this placement has paid back.

Nissan understands the need to meanigfully communicate its core philosophy as well as relay to customers the various productfeatures including performance both on and off road, reliability, feature list, safety features and luxury features. Apart from the usual television, radio, print and nissan has exceptionally interesting advertisement campaigns. Nissan focuses on 360 branding in its marketing mix promotion strategy.

Week 4 Assignment :

1. An itemised budget listing the cost of recommended marketing activities.

The final stage of any marketing planning process is to establish targets (or standards) so that progress can be monitored.Accordingly, it is important to put both quantities and timescales into the marketing objectives (for example, to capture 20 percent by value of the market within two years) and into the corresponding strategies. Marketers must be ready to update and adapt marketing plans at any time. The marketing plan should define how progress towards objectives will be measured

2. A forecast of incremental sales.

Most organizations track their sales results; or, in non-profit organizations for example, the number of clients. The more sophisticated track them in terms of 'sales variance' - the deviation from the target figures which allows a more immediate picture of deviations to become evident

3. A pro forma that includes the following:

a. Gross sales.

The "bottom line" of marketing activities should at least in theory, be the net profit (for all except non-profit organizations, where the comparable emphasis may be on remaining within budgeted costs). There are a number of separate performance figures and key ratios which need to be tracked

b. Selling cost.

In marketing, the marketing expense-to-sales ratio plays an important part in expense analysis because it is used to align marketing spend with industry norms. Marketing expense-to-sales ratio helps the company drive its marketing spend productivity.Marketing expense-to-sales analysis is also included with the sales analysis, market share analysis, financial analysis and market-based scorecard analysis as one of the five analysis tools marketers used to control and drive spending productivity. 

c. Net sales.

A formal, written marketing plan is essential; in that it provides an unambiguous reference point for activities throughout the planning period. However, perhaps the most important benefit of these plans is the planning process itself. This typically offers a unique opportunity, a forum, for information-rich and productively focused discussions between the various managers involved. The plan, together with the associated discussions

d. Less: cost of sales.

The above performance analyses concentrate on the quantitative measures which are directly related to short-term performance.But there are a number of indirect measures, essentially tracking customer attitudes, which can also indicate the organization's performance in terms of its longer-term marketing strengths and may accordingly be even more important indicators.

e. Gross margin.

The classic quantification of a marketing plan appears in the form of budgets. Because these are so rigorously quantified, they are particularly important. They should, thus, represent an unequivocal projection of actions and expected results. What is more, they should be capable of being monitored accurately; and, indeed, performance against budget is the main (regular) management review process.

f. Variable costs related to the marketing plan.

The purpose of a marketing budget is to pull together all the revenues and costs involved in marketing into one comprehensive document. The budget is a managerial tool that balances what is needed to be spent against what can be afforded, and helps make choices about priorities. A budget can further be used to measure a business's performance in the general trends of a business's spending.

g. Net contribution.

The marketing budget is usually the most powerful tool by which one can determine the relationship between desired results and available means. Its starting point should be the marketing strategies and plans, which have already been formulated ain the marketing plan itself; although, in practice, the two will run in parallel and will interact

No comments