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Marketing Plan for a Business Plan Proposal - Entrepreneurship Course
Pages 4 (1004 words)
Marketing Plan for a Business Plan Proposal - Entrepreneurship Course Table of Contents 1.1 Target Market Strategy 3 1.2 Product Strategy 3 1.3 Pricing Strategy 4 1.4 Distribution Strategy 4 1.5 Advertising and Promotion 5 1.6 Sales Strategy 7 1.7 Sales Forecast 9 References 10 1.1 Target Market Strategy The product that has been chosen for the study is “The Track Tablet”.
Later, “The Track Tablet” company can expand into broad geographical areas. 1.2 Product Strategy Anything that is received by a person in exchange for the money that is paid by him is a product (University of Texas Arlington, “Product Decision”). The product has been designed to permit the guest to make use of the hotel services such as the room service, book spa appointments, enjoy the concierge services, restaurant reservation and order the taxis. Renting of the movies, virtual library, and downloading of the newspapers and magazines will also be possible. However, it has to be mentioned that the product will not replace the reception and human contact since it is the key for success in the hospitality sector. 1.3 Pricing Strategy Pricing can be considered as the most vital aspect of any marketing plan. However, it is vital to keep a watch upon the pricing strategies since the business environment is volatile. In addition to this the move of the competitors need to be gauged. Pricing of the new product needs to consider various aspects to remain competitive (Cravens, W. C. & Piercy, N. F., “Strategic Marketing”). Initially, it would be better for “The Track Tablets” to adopt the penetration pricing strategy. ...
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