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Impact of the Marketing Plan on the Performance of the Company

4284 Downloads1 I Published: 26 Feb ,2019

Introduction

Marketing plan is opted by most of the organization. It defines with the business activities which are having impact on the overall performance of the company. Through this organizations can easily attain their target and goals as well. In this activity companies are introduce their goods and services in the international market and try to improve their performance and attain their set of target as well. The present report is based on Faire trade which is the systematic labelling system which certifies that goods must bearing the Fair trade mark on them. This can provide wader vision for the development, this can covering wider rang of goods and services. Further, fair trade is the social welfare company which is incorporated in the interest of people and try to increase their level of standard as well. They provide various types of facilities to their customers and try attract them as well towards their goods and services which are offered by them.

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1.) Situation analysis

The market share of tea products is high. This product is consume most of the customers through this its sale is increase is increase day by day. Fair trade tea product line is able to improve their performance and try enhance market image as well. Continuous growth can be achieved with help of fair trade. Managers and leaders of that company have to analyse the strengths and weaknesses in order to improve their performance and attract people as well.

Strength Weaknesses
  • The biggest strength of this company is provide varieties of goods and services in order to improve their performance and try to attract large number of people as well.
  • Expand business in international market.
  • Try to provide best quality of goods and services to their targeted customers.  
  • They provide social welfare to people.  
  • Applies commercial strategies on them in order to maximise improvement in human and environmental well being.
  • Fair trade not use advance quality of equipment which able to drag down the performance of firm.  
  • Cannot able to attract large number of customers.  
Opportunities Threats
  • Have to expand their business in across the national border.
  • Use technologies which are helpful for them to meet their set of target and objectives as well.  
  • Have to provide more goods and services to people in order to increase their level of standard. 
  • The biggest threat for the company is increasing competition day by day.
  • Large number of other social well fare companies which are able to reduce their work quality.

The porters five environmental forces model having impact on the existence of company. These can define are as follows:

The threat of entry

If competitors can enter into the market then is it not beneficial for them. Through which they are not able to survive in the market.

Suppliers power

Companies are able to provide large number goods and services to their customers. In this suppliers play an important role which are able to deliver raw material them after that firm converted them into finished product then deliver them in international market.

Buyer power

They deliver products for their customers. Fair trade deliver products and customer purchase them as well. Customers play an important role in every business organization because if buyer purchase them through companies are able to meet their set of target and able to attract large number of people as well.

Threats of substitute

The product which company deliver in the international market also having same substitute in the market which is produce by the other firms. Presence of substitute is the biggest threats for them. So that, their managers and leaders have to manage performance accordingly.

Competition

In today's world large number of competition is increases day by day. Through which performance of company is going to decline from its stated level of image.

2.) Segmenting, targeting and positioning analysis.

Segmentation is done for the customers whose choices are same and who wants similar products. These kind if customers are grouped together and and their needs and wants are similar. for e.g. there is a separate segment of kids, for women, for girls etc. while targeting is the stage that is done after segmenting and then the segmented groups are targeted. Whereas positioning is the stage in which the business creates its image in the mind of the customers(Hollensen 2015). The positioning helps the organisation and it makes the perception in target audience.

The segmenting is done on the basis of the various factors and these are assessed and evaluated and then the segmentation is done.

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Demographic

These are the factors on which segmentation is mainly outlined. These include gender, age, income, marital status, occupation, education etc. the fair trade tea bags are organic and they are segmented for the generation who is dedicated towards the health of them. It answers the question that who are the buyers of the organic tea.

Psycho-graphics

In this factor the purchase behaviour is linked to the choices related to their lifestyles, personality, their traits, attitudes etc. this analysis answers the question that why the customer buys your product. It tells you your USP that the customer has liked and preferred over others(Robinson 2012). Psycho graphic factor is gathered through the data collected from :

Interviews: In this the representatives of the company talk to the customers and ask questions and analyse their needs and wants.

Surveys: It offers a wide range of customers and data is wide.

Lifestyle: This gets the insight of the customers hobbies and their vacation choices. The organisations can identify the choices of customer and segment them accordingly.

Geography: The people living in different geographical areas have different choices according to there location, according to climate also. They like to buy things that will sooth them according to the climate.

Targeting

After segmenting the customers for organic tea the group are targeted. The below listed items are to be evaluated for finding out the attractiveness of the customers.

Size criteria: The segmenting done should be large enough and the person who are health conscious are targeted here (Ahn, 2013).

Difference: There must be distinguished among the segments like the health conscious person

Accessible: The segments should be accessed by the team of the organic fair trade and the information must be communicated to them.

Product Positioning

In this aspect the organic tea of fair trade has to position its product in the market to create a image in the mind's of the customer that it is a healthy tea which is organic. It improves the immune system of a person(McDonald, and et. al, 2011). It is a tea for health conscious people.

3.) Marketing mix

With the help of marketing mix companies are able to identify their actual position and try to maintain them as well.

Product

The goods of fair trade ecological as well as sustainable. Those products are only received from the small farmers which are able to maintain good environment in the country. This company deliver goods and services such as cocoa, bananas, tea etc.

Prices

The Fair trade company deliver product at the reasonable prices which are easily affordable by customers (Robinson, 2012). Further, it is term which is consumers re willing to pay against products which they purchase.

Place

Fair trade farmers are working in the around 74 countries. They have to delivery products at the selected place where large customer demand.

Promotion

Managers and leaders have to ensure that company needs to use advance technologies in order to introduce their goods and services among targeted customers. This factor is defined as communication tool through which they can easily transfer their message to their targeted customers (Wei, 2010).

People

They have to invest in online services through which they can easily reach to their targeted audiences.

Physical evidence

Fair trade have to focus on the brand awareness among market in order to positively contribute in their international market positioning.

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4.) Futuristic Strategic Alternatives

The Organic Earl Grey Fairtrade have to use the marketing strategies in order to make the product successful in the next one or two years. The marketing strategies are the most efficient and effective tool which a business can utilise to make their offering/product successful in the market (Boone and Kurtz, 2013). The Marketing strategies being used today have evolved into the most important part of the business and its product success. If a company like Organic Earl Grey Fairtrade chooses a suitable marketing strategy for its tea bags then it will be highly successful in attaining the desired goals. The strategy which the Organic Earl Grey can use the Ansoff's growth strategies matrix which will offer all the options to them to achieve better results.

Ansoff's Growth Strategies matrix:

This growth matrix was first revealed in Harvard Business Review in 1957 and was made by the strategist Igor Ansoff (Civi and Persinger, 2011). This model made the management teams in concentrating on the organisational growth. It is build around two matrix:

  • New Products
  • New markets

There are four quadrants of growth in the matrix:

Market penetration: It is the best way as the company will need to focus on the possible ways to penetrate the existing market. The fairtrade can use this technique by keeping the product at competitive advantage(efficient pricing).

Product development: The fairtrade tea company can use this strategy by making a new organic tea product to replace the existing product (Hawkins and Frohoff, 2010). It helps the customer retain ship and interest.

Market development: Basically Fairtrade can use this technique in enhancing the market share it have. It can open up to new markets by many pricing and product strategies. Like selling in other countries.

Diversification: The fairtrade can do three level of diversification, that is:

  • Into related markets.
  • Into unrelated markets with existing resources and capabilities.
  • Into unrelated markets where company needs new resources and capabilities to develop the sales and market.

There are two ways to use the Ansoff matrix:

  • As a brainstorming tool to find the possible strategic options
  • As a Assessment tool to find best alternative strategies option

The impact of the marketing strategy developed by the Ansoff matrix can be enhanced by mixing CSR activities with it. CSR activities are related to corporate social responsibilities which can be used as tools of making the company more social and increase the brand fame. The CSR activities will help the Fairtrade in getting the public attention towards its products and its brand. The more people recognise the brand the more it will be better for Fairtrade (Vaňa and Černá, 2012). Fairtrade can incorporate the CSR strategy with its marketing strategy in a very simple way. It needs to adopt the integration approach so it can easily integrate the CSR activities in the strategy. It will be a visible strategy. The best thing about CSR activities is that it leaves a permanent memory in the customer mind which enhances the brand recognition, Brand name and image. The cost of integration will not increase the financial cost a lot as the CSR can be done while marketing via organising the free taste samples to people.

5.) Implementation

CSR strategies are helpful for Fair trade to improve their market presence and try to easily attain their set of target as well. These strategies are able to face challengers which are able to drag down the performance of company. Through they are able to meet their target and fulfil their objectives as well (Cole, Graves and Cipkowski, 2010). In order to attain their goals company have to effective marketing plan through which they can easily introduce their products in international market and try to provide best quality of services for social welfare. Also they have to opted other various types of strategies in order to improve their performance as work quality as well. With the help of marketing mix organization are able to identify their actual position. This is the forecasting approach which helpful for them to attain their long term as well as short goals and objectives.

6.) Control and evaluation

Employees and financial resources are helpful in implementation of plans and strategies. These both factors are having impact on the marketing strategies through companies are able to maintain their performance and attain their set of target as well. Human resource or workers are help to complete their task in a timely and efficient manner. They have to performance their task in group working and to improve performance of company as well as its performance. For each and every activity fair trade need effective financial resources in order to attain their set of target and goals as well. Marketing is able to meet success of the company and growth of the firm is also possible with this (Peter and Donnelly, 2011). They have to opted effective marketing plan which is the forecasting process for them through this companies easily meet their long term and short term goals and objectives.

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Conclusion

On the basis of above report it has been concluded that, fair-trade is company which provide social welfare to people and try to improve their level of standard as well. Its managers and leaders are have to opted effective marketing plan in order to introduce their goods and services in the international market. With the help of marketing mix companies are able to identify their own performance and current position in the market as well.

References

  • Ahn, J. B., 2013. A Study on Service & Advertising Marketing Plan using LBS Smart Mobile Technology based on Delphi Research Method. The journal of the institute of Internet, Broadcasting and Communication. 13(6). pp.281-288.
  • Boone, L.E. and Kurtz, D.L., 2013.Contemporary marketing. Cengage learning.
  • Civi, E. and Persinger, E.S., 2011. Marketing plan competition for experiential learning. American Journal of Business Education (Online).4(12) p.51.
  • Cole, K., Graves, T. and Cipkowski, P., 2010. Marketing the library in a digital world. The Serials Librarian. 58(1-4). pp.182-187.
  • Hawkins, A.G. and Frohoff, K.M., 2010. Promoting the academy-the challenges of marketing higher education. Research in Higher Education Journal.7. p.1.
  • Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education.
  • McDonald, and et. al, 2011. Using a business model approach and marketing techniques for recruitment to clinical trials. Trials.12(1). p.74.
  • Peter, J. P. and Donnelly, J. H., 2011. Marketing management: knowledge and skills: text, analysis, cases, plans. Plano: Business pub., INC.
  • Robinson, C. K., 2012. Peter Drucker on marketing: application and implications for libraries. The Bottom Line. 25(1). pp.4-12.
  • Robinson, C.K., 2012. Peter Drucker on marketing: application and implications for libraries.The Bottom Line.25(1), pp.4-12.
  • Vaňa, K. and Černá, Ľ., 2012. The marketing audit as a method of the evaluation of the marketing plan. Research Papers Faculty of Materials Science and Technology Slovak University of Technology. 20(Special Number). pp.131-136.
  • Wei, M., 2010. Construction of marketing management information system of travel agency based on customer relationship management. In Advanced Materials Research (Vol. 136. pp. 69-76). Trans Tech Publications.
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