This paper stresses that the company has to assess the size of the potential market, the type and level of competition, promotional variations, price, product variations and barriers to trade. The company has also to analyze the cost effectiveness of various modes of transport. The company has to identify marketing objectives, marketing strategies and marketing budget of this market. The company has also to identify the potential customers of olive oil in United Kingdom, identify the critical issues and develop a system of monitoring and evaluating the marketing activities.
This essay makes a conclusion that while preparing an initial market plan, the company first identifies the target market. The company will then conduct a market analysis to evaluate the viability of the market. Secondly, the company set objectives it seeks to achieve in the new market. The analysis of the company comprises of the assessment of the market environment. The assessment will identify the prevailing economic conditions, challenges and the level of competition. The company decides the best marketing mix for its products. The company will offer a broad variety of products with different brand names, which will attract new customers. The company will adopt advertising activities, which will persuade consumers to buy its products. The pricing strategy of the company will influence the amount of sales in the target market. The company has to develop distribution channels, which will deliver products to the target customers. ...Show more