A marketing plan is a written document that contains the essential measures, which help a company to realize one or more marketing goals for a period of five years. In this case, our marketing plan for NOKIA E71 targets a certain number and type of customers. On the other hand, the objectives and goals the Nokia Company wants to achieve, through the sale of this product are indicated in the marketing plan.
It is of important to note that, our marketing plan contains message-media decisions outlining which mode was used; in the promotion of the product. Further, the NOKIA E71 product marketing plan outlines the budget of expected cost and revenues for catering for this cost, as well as the allocation of each advertisement method. Lastly, this marketing plan contains the combination of advertisement methods indicating the ones, which are mainly used.
A marketing plan is a written document containing the essential measures to realize one or more marketing goals, for a period of between one to five years. In our case, we would like to write a marketing plan for the NOKIA E71 phone, as our product for the next four years in Australia. Based on this, the NOKIA E71 phone is a new product in the market; hence in our Nokia Company we would like to have its marketing strategies for four years set up. It is of importance to note that, the following will be included in our marketing plan; a target market, objectives, message-media decisions, MC budget and a marketing mix (McDonald, 2002).
To start with, our marketing plan targets all customers including private sectors, wholesalers, retailers and countries’ governments among others. Based on this, target market helps a company in identifying the potential buyers of the product. In this case, we are targeting wholesalers and retailers to have a higher percentage of our business. Importantly, we will target our customers through different aspects which include the product line, geographical area, sales and industries among others.
In this case, our product line will be targeting other phones manufactured by the Nokia Company like NOKIA 2300, NOKIA 6030 and NOKIA 2310; since these are the fast moving products from our company which will assist in marketing our new product. On the other hand, we are targeting to have a good market in mostly Australian, American, European and Asian urban areas as it has been the case with our mentioned product line. In this case, we target our customer to come from urban areas of the developed and developing countries worldwide. Further, we are targeting a minimum volume of sales of 40000 tones in a period of the first two years.
This is because a systematic marketing of our product will be made and since the price will be friendly; thus the company will experience a large quantity of sales. It is also of importance to note that, our target group of industries include; private sectors, companies, institutions, business corporations and government owned sectors where there is a lot of communication over the phone. In this case, our main objective in targeting these kinds of industries is to make sure that every customer has an access to our product from the lower to higher rank workers.
By doing this, we will be in a position to know whether our customers require what we provide. As a matter of fact, the NOKIA E 71 is targeting mainly the young and middle aged generations. In this case, our customers will be between the age of seventeen and fifty years and have moderate income levels (Luther, 2001).
On the other hand, our objectives of marketing this product are; to achieve the targeted volumes of sales and improve our marketing strategies by improving more training to our distributors on how to reach widespread numbers of customers worldwide. On the other hand, we are aiming to reach all customers even those in developing countries, and provide a high quality product. Further, we are aiming to increase our sales by 50% by the end of the third year since by this time people will be somewhat aware of our product. In addition, through opening up of new distribution channels we will be able to reach many customers.
In this case, we will have reached a huge number of customers through our expansive advertising techniques; which will enhance our sales. In this case, objective statement in a marketing plan assists in setting limits which the sale of the marketed product would strive to attain (Cova et al., 2002).
Further, it is of importance to state the message-media decisions in order to state the cheapest and most reliable media to use in advertising the proposed product. In this case, this decision helps in making a budget since the company need to estimate the amount of which will be used in advertisement. From this, most of our advertisement will be made through the internet and television as most of our target customers are thought to have an access to internet and television. On the other hand, the internet and television will be our cheapest and most reliable modes of advertisement as compared to other media like radio, magazines and newspapers (McDonald, 2002).
In addition, in a marketing plan should include a budget which indicates the expenses to be incurred in the process of marketing the proposed product. Based on this, this budget helps in estimating the amount of money to be used in advertisement. In this case, for us to achieve the above mentioned goals and objectives; we will incur some costs. In this case, we are expecting to incur a cost of approximately $ 50,000 in advertising the product since our product is new in the market. From this, the largest allocation of our budget will go to internet and television then radio and physical publications following that order.
Based on this, since Nokia is a big company having diverse methods of getting revenues; the mentioned cost to be incurred will not be a big problem. Further, this cost will be catered for by the profit realized from the other Nokia electronic products. In this case, our assumption on the number of sales and the cost to be incurred is based on the extensive marketing programs and other sources of getting funds; hence we will operate on a profit and not a cost center mode (Luther, 2001).
Further it is of importance to note that, a marketing plan includes the different advertising methods used; this is a what is indicated as a marketing mix. Based on this, marketing mix assists in diversifying the promotion of the marketed product. In this case, we will use a combination of marketing methods in the sale of our new product. In this case, our budget allocation will be broken up into: internet, television, Radio and physical publications advertising segments like magazines and newspapers. Based on this, for now we will use these advertising methods but we are planning to have salespersons’ promotion in the future. As stated earlier, our main promotion methods are the internet and television. By using a combination of these methods, we will be able to achieve our goals and objectives (Cova et al., 2002).
Reference lists
Cova, Bernard et al. (2002) Project Marketing: Beyond Competitive Bidding. New Jersey, Wiley Publishers.
Luther, W. (3rd edition) (2001) The Marketing Plan: How to prepare and Implement It. New York, AMACOM Publishers.
McDonald, M. (5th edition) (2002) Marketing Plans, Fifth Edition: How to prepare them, how to use them. Oxford, Butterworh-Heinemann.