Marketing Plan
Marketing Plan I. ... The Marketing Environment 1. ... A comprehensive plan will be instrumental in developing popularity to ensure future profitability. ... Current Marketing Objectives and Performance The movie rental business can be characterized by selection and movie turnover. ... Vision Video’s marketing objectives include increases in both revenues and profits of approximately 12% over the next several quarters. ... Marketing Objectives. ... Besides formulating a marketing-oriented and customer focused mission statement, Vision Video should establish an objective to achieve cumulative growth in net profit of at least 50 percent over the next five years. ... To accomplish its marketing objectives, Vision Video should develop benchmarks to measure progress. ... The major marketing objective is to gain a better understanding of the needs and satisfaction of current customers. ... Marketing Strategies. ... Marketing Mix 1. ... Marketing Implementation. ... Marketing Organization Because Vision Video’s competitive advantage is its ability to meet and exceed its customers’ expectations it is necessary to organize the marketing function by the established target markets. This will allow Vision Video to focus its marketing efforts exclusively on the needs and specifications of each target customer segment. The marketing efforts will be organized around the following customer groups: (1) college students; (2) people under 30; (3) people over 30; (4) parents of children. Each group will be headed by a sales manager, and each manager is responsible for the marketing of Vision Video to each segment. ... We hope to produce a marketing organization that is creative and flexible in meeting customers’ needs. ... · The following year it will be necessary to develop a marketing information system to monitor customer loyalty and satisfaction. ... Performance Standards and Financial Controls A comparison of the financial expenditures with the plan goals will be included in the project report. ... · The breakdown of the budget just listed will be a 15 percent allocation to the billing cycle study, a 25 percent allocation to the customer survey and marketing information system development, and a 60 percent allocation to new video purchases. ... · The owner, me, will be responsible for adherence to the marketing plan throughout the store’s life. ... Monitoring Procedures To quantify the true effectiveness of Vision Video’s marketing plan, it will be necessary to compare the actual performance with the planned objectives. Monitoring procedure should be developed for all activities required to bring the marketing plan to its reality. These procedures include the following: · A marketing management plot will be used to evaluate the execution of the marketing plan by establishing time requirements as well financial and budgetary expenditure limits.