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Word Document Copy PART A EXECUTIVE SUMMARY – Delite is a well-established company having its head quarters in the US, and number of chain stores for its product all over the world. The company mainly produces consumer durable items such as noodles, soup, etc. The company was established in 1990 with a very small investment and the co-founder of the company was Freddy Miller. He was a man who initiated for the consumer items in his town and was successful in implementing the company at a lower cost. The employees in the company when starting were around 10 and the start up was a motivation from other large companies who manufactures the consumer durable items and earned a handsome amount while selling their product in different countries. It was an inspiration for Freddy to come up with some products which may not be so costly as other companies used to sell to the general public, so he initiated with a small amount and less labor. This was a challenging task for him because there were no such scopes of growth as other companies had a very huge profits just because they had a huge investment and the demand of the products were high at that time. Gradually Delite was established and now it is one of the successful companies in the US with its aim of serving best quality products to the customers (Bratianu, 2006). PRODUCT FEATURES The company produces consumer durable products which are been consumed and accepted by the consumers. The high quality products and the superior way of packaging have improved the market of Delite. Delite produces noodles, soups, pastas, chocolate syrups, etc in its manufacturing unit. This has been a greater achievement and improvement in packaging services is a successful measure taken by the company. Even packaging is an important and attractive way of dealing with the promotional measures which are been applied in the strategy planning of the product. The products have the trademark as they are approved by the quality circles and the team which is very necessary for a company to start up with the business of products for the company. Labeling of products is been an attempt to prove that the product is well packed and labeled according to the requirements by ISO. The products are satisfying and accepted by the consumers in each level (Woiceshyn & Falkenberg, 2008). The market is targeted specifically for the consumers and focused according to the demand and supply. REFERNCES – 1. Bratianu, C. (2006.).” Knowledge dynamics in organizations.” Proceedings of the 6th Biennal International Economic Symposium SIMPEC 2006, vol. 1, pp. 51-56 2. Woiceshyn, J. & Falkenberg, L. (2008). “Value creation in knowledge-based firms:” aligning problems and resources. The Academy of Management Perspectives, Volume 22, no. 2, pp. 85-99
PART B TARGETING CUSTOMERS – Market segmentation and target market are tools which decide about who are the customers to be focused upon specific area and the variables for other marketing plan. The advertising budget of the company is to be decided in the plan and strategies should be adopted within the marketing plan to determine which campaign shall be beneficial for the company. The marketing message is worth for the consumers as the consumers should have sufficient use of knowledge and idea about the new product and the promotional activities which shall be useful and helpful for customers. Customer are satisfied by the products and thus their needs and wants are been taken care in the promotional measures by the company. So, the market segmentation, target market and the product positioning is necessary at this level to know who are the consumers and what do they expect from the company. MARKET SEGMENT AND TARGET MARKET Market segment is dividing the group of individuals in specific criteria so as to be homogeneously different and specific as per the target market to be adopted in certain case. The group can be specifically divided into various categories by the company. These groups include demographic profile, psychographic profile, according to profession, geographic location, needs and wants of customers in precise. These are the groups formed and the factors which are recognized while the market is been targeted. The focus is on particular group which is been targeted to sell the product and gain a handsome profits. By focusing the market this means the company needs to target adults and teenagers because they are the ones who are fond of fast food items and are constantly consuming the products of Delite. The demographic group includes the age, ethnicity and gender of the public. This is easily been grouped as adults who are from 12 to 25 years would accept this product and readily buy the product. Consumer who are interested in the product and are know the brand loyal consumer are been at targeted as this can help in the advertising form (Wedel & Kamakura, 2002). Promotional measures for users of the products should be given such as offers and discounts at particular rate to increase the sales and the turnover of the company. The income of the consumer is one of the factors which should be considered, as people with higher income group can purchase the products even at higher price if they are interested. The lower income group does not accept expensive products as their occupation may be not so high at work. Occupational group save more than spending, so low income group people opt for lowest price of products. Delite has all the customers in market thus, they are been targeted accordingly. The needs and wants of the consumers are to be known by the research and feedback should be collected which can be useful to target the customers and advertise the products in the market with greater and positive impact which shall result into overall growth and development of the company (Uncles, Dowling & Hammond, 2003).
REFERENCES – 1. Uncles, M., Dowling, G. & Hammond, K., (2003). “Customer Loyalty and Customer Loyalty Programs, Journal of Consumer Marketing 20(4) (2003): 294-316. 2. Wedel, M. & Kamakura, (2002). “Introduction to the Special Issue on Market Segmentation”, Intern. Journal of Research in Marketing; Vol. 19, 181–183.
Click on the “Create Journal Entry” button at the top of this page to start your journal. This is not a timed activity.
Journal 2: Marketing Plan Part C: Unique Selling Proposition
Due Week 6 and worth 100 points
Journal 3: Marketing Plan Part D: Pricing and Distribution Strategy
Due Week 7 and worth 120 points
You will now consider your company’s strengths and weakness, along with your product or service price.
Use the Internet to research strategies for conducting a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. Based on your company’s market information, consider the strengths and weakness of your company and its products or services.
Write a four to six (4-6) paragraph journal entry in which you:
1.Determine the key strengths and weaknesses of your company, as well as both the primary opportunities and threats that it faces within its industry. 2.Discuss your critical steps within your supply-chain and operational system. Explain the key aspects of your strategies for producing and distributing your products and services to both your stores and customers. Determine whether you will use an outside vendor or complete the work in house. 3.Analyze the company’s pricing strategy relative to its pricing objective. Examine major internal and major external factors that could potentially affect the pricing of the company’s products or services. 4.Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources. Note: Insert the information from the completed Journal 4 entry into “Section 4: Pricing and Distribution Strategy” in the provided Marketing Plan Template (located in Week 4). Journal 4: Marketing Plan Part E: Distribution Plan and Promotions Strategy
Due Week 8 and worth 160 points
You will now consider mechanisms by which your customers will purchase your products and / or services (e.g., online, storefront, direct sells) and the primary manner in which you intend to reach new customers (e.g.,TV, radio, social media, special events).
Consider the marketing materials that you intend to use. According to the textbook, marketing materials are collateral used to promote your business or products. Promotional strategy may include free trial offers, money-back guarantees, and buy two (2) for the price of one (1) type of deals. Write a five to seven (5-7) paragraph journal entry in which you:
1.Determine the distribution strategy relative to your target market, location, and selection of distribution channels. Indicate whether or not you will leverage the following strategies: a.use stores located in different regions b.sell online c.hire a sales team to sell directly to suppliers and door-to-door 2.Recommend three (3) strategy options that you could use in order to get your product or services out to your customer base. 3.Outline your main marketing goals for promotions, offers, and giveaways. Discuss the key types of marketing materials that you intend to develop and share. 4.Propose three (3) action steps that you can use to move your plan forward. Consider how, when, and who will be involved in the execution of this plan. 5.Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources. Note: Insert the information from the completed Journal 5 entry into “Section 5: Distribution Plan and Promotions Strategy” in the provided Marketing Plan Template (located in Week 4).
You will now complete your secondary market research and consider what distinguishes your company from your competitors, their products, and / or the price of their products and services.
The key word in Unique Selling Proposition (USP) is “unique.” There are very few products or services that are truly one of a kind. In order to target the demographic for your company, you need to pinpoint what makes your business standout among the competitors (e.g., Charles Revson, founder of Revlon, always used to say he sold hope, not makeup. Neiman Marcus sells luxury and customer service. Wal-Mart sells bargains. Amazon is earth’s biggest bookstore.)
Use the Internet to research two (2) of your favorite companies and two (2) companies that are similar to your company. Identify the USPs of these companies, and consider what the USPs mean to you. Next, prepare to create a USP for your company.
Tips on creating a USP for your company:
•Put yourself in your customers’ shoes. Consider what your customers really want. Consider what could make them your repeat customers and instead of your competition‘s. •Research what motivates your customers’ behaviors and buying decisions. You need to know what drives and motivates customers. •Uncover the real reasons why customers buy your product instead of a competitor’s. As owner of a start up, ask people why they buy your future competitors’ product. This will help you uncover why they might buy yours. Ask yourself the following questions:
•What does our product or service do better than anyone else? •How is our business model different from that of our competition? How could our product or service be different? •What market category or niche is not being served by our industry?
Write a four to six (4-6) paragraph journal entry in which you:
1.Identify the target market and your secondary market for your company. Note: Be as specific as possible (e.g., women 30-45, with a high school education and some college; people working full time and living in the Midwest, etc.). 2.Describe your unique selling proposition (USP). Explain the key factors that make your company different than competitors within your industry. Describe the primary way in which the USP for your company targets the two (2) markets you identified in Question 1. Example of a USP:
•My product is t-shirts and coffee mugs with fun and empowering logos for women. •My target market is women ages 35-55, college educated, working full time. My secondary market trends a little younger at 25-35, women passionate about their professional life and their personal pursuits. •My USP is “Be Authentic, no Apologies.” •My reasoning is I want women to buy my sassy slogans, because they want to show their authentic voice on a shirt or mug. Note: Insert the information from the completed Journal 3 entry into “Section 3: Unique Selling Proposition” in the provided Marketing Plan Template (located in Week 4).

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