ENTR311 Business Plan Foundations

Introduction

Marketing or brand promotion can be of three option, first creating awareness of the existence of the product or brand, second to retain the existing market and two to increase the market cover of the brand. In the event that the company want to perform either if the three objective they have to plan the marketing process so that they can attain the marketing objective (Patti, 2020). The marketing process must have an objective which will act as the guidance to the approach to be undertaken with the marketing process. This study aims at developing marketing strategy for the Everest auto part.

About the company

The Everest auto part company is a motor vehicle part and accessories company which supplies quality steel bull bards, rock sliders, front and rare nudge bars, brush bard and side step bard among other accessories (Kotle P. K., 2016). The company customers are mostly the motor vehicle repair, modification and development sector as the product that the company deal with are majorly used in car material. The company also offer their client a rage of other car material that have been customized both steel, carbon fiber, the company also customize the steel product in their manufacturing plant in the event that the client has special order. The company product is mend to improve the car performance, comfort and protection of the car fragile parts.

Everest operate in more than 100countries. The company has established its presence in most essential market (Carey, 2019). However according to the resources that the company has invested in their establishment the company is performing poorly. Additionally, according to the market dominance the company has a chance to establish sound marketing in the market that the operate. The company through effective marketing can remain dominant in the making them operate.

Objective:

The object of the marketing and promotion campaign is to increase the brand awareness. This will give our brand an equal chance to compete with other automotive part and accessories brands. this mean that the campaign will not be done in new market but the existing marketing market with the aim of establishing dominance in the market before the company can venture out to new market (Kotle P. , 2017). From the fact that the company product is more effective and has a better chance of outdoing it competitor the customers should know its quality and given chance they will be impressed.

Target Market

The target market of the Everest is the market that need customized car product. This is a group of people preferably from a high social class, owning high end cars and with high need of luxurious product. This is a small group in the society that is why the company has to be precise in its strategy (Patterson, 2017). The massage will be geared at showing how strong, top notch quality secure luxurious and long lasting. The reason why this message will be effective is because the whole need for using the Everest product on a car is to improve the quality, comfort safety and outlook. So this massage to the prospective market will be effective to make the client try our product.

Tactics

The strategy used in communication of the message depend on the location of the target population. most of the strategy population are you and mostly working class. The most effective of communication is through the television advert and social media. Television advert and social media ad are effective as the company can demonstrate the characteristic of a car which has been improved using their product and its performance defense from a car that has not been provided and by so doing they will convince the target market. An impressive message in this kind of advert is not sufficient and this it needs to integrate the audio visual help to reach the message effectively to the target market (Patti, 2020). The strategy is using both the television and the social media so that the television will reach the message to the elder generation so the channel to be used in the television will be one which engage the elder generation. In the social media the young target market will be reached through, google ad, Facebook ad and twitter ad.

Timing

The starting date will be at the beginning and throughout the summer, this is the period when people have much time dedicated to family and also have resources to spend in such endeavor (Sufrin CB, 2008). The television advert should be aired in the evening when the family is at home end perhaps watching while the social media will be progressive advertisement where the advert should continuous promoted to reach most people. The product promotions will be done in four consecutive years with the aim of creating a consistent market

Resources Needed

The most crucial resource that is needed in this campaign meant to inform the target population of the effectiveness of using the Everest steel product in improvement of car is cash or fun which will be used to subscribe to the social media and television cost of advertisement., secondly the activity will need data that will be used to profile the market (Kotle P. , 2017). Through the data the marketing will be able to focus the marketing strategy to a closer group of people. This will make the marketing strategy cost effective. The total cost of advertisement per year is as follows;

The advertisement will have an effect to the company operation as it must lead to increase in the demand of the product produced by the company (Kotle P. K., 2016). To sustain the demand, the company will have to increase their production as well as increase the human resource to provide the service now needed. This will need the company to be prepared in terms of the resources as well as infrastructure to meet this new demand.

Predicted Outcome:

According to the current company data the company has been able to reach out to 10% of the target market (Carey, 2019). With the advertisement and creating awareness of the presence of the company product as well as the effectiveness of the product the market is expected to rise by 3% in the four years which mean that the company production must be four times the production today. This will mean that the revenue of the company as well as the profit will be three time that of the current state.

Support Work Process:

Key Performance Indicators (KPIs)

References

Carey, J. L. (2019). guide to price strategy and market strategy. New York: Arno Press.

Kotle, P. (2017). Online marketing management. New York: Pearson.

Kotle, P. K. (2016). Marketing Management . New York: Peason.

Patterson, L. (2017). Marketing Metric in action, creating a performance driven marketing oranization . New York: Racom communication.

Patti, D. (2020, March 11). Markets want White House and Congress to move quickly on stimulus to head off a recession. Retrieved March 22, 2020

Sufrin CB, R. J. (2008). ecommerce marketing strategies . journal on markting strategies, 63(9), 585–9.

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