Marketing plan - Assignment Example

Marketing Plan for the Book-It Situation Analysis A large number of book buyers are between 15 and 50 years of age. The group of people that purchases more notebooks per capita than those younger or older is our chief market segment. Notebooks are an important part of every day’s life. A very stiff competition from smartphone applications convinces users of a handier and pocket friendly exists. Nonetheless, we have extensive experience in manufacturing innovative, high-end, neat, and handy notebooks aimed at edging out even the mobile apps that imitate the functions of the traditional notebook.

The Book-It Note gives the user the opportunity to read the information they have jotted down in its entirety as it designed for superb legibility.ObjectivesThe combination of unique, innovative, cost-effective design will allow us to establish an even larger market share the following year. Marketing StrategyWe will introduce the new notebook, The Book-It Note, with penetration pricing and formidable advertising. We will also employ extensive distribution, which will translate to increased revenue and growth rate.

Market segmentationAge% of Notebook Buyers% of Population over 14Relative Purchase Index15-2510120.826-3031201.5531-4539400.9846-5020280.71Those over 31 years of age purchase relatively over 50 percent of all the notebooks as shown in the table above. Purchase of notebooks is also supposed to be dependent on gender. Normally, women purchase notebooks more than men do. However, the trend changes when the group in question is around 35 years of age or older. The current generation of young men is used to smartphone apps more than ladies are meaning that they may not be a very good set of The Book-It Note customers.

For female student customers, their attention to aesthetic may require that we make the notebook a little appealing with vibrant colors. However, The Book-It Note is generally plain and neat eliminating any distractions while using it. Targeting and Positioning for my market planWithin the consumer market, we identify middle and upper-income professionals who normally have very tight schedules and their professions demand that they do not forget things they have discussed throughout the day or worse still, forget future meetings.

The intricacy involved in using phones to record notes or noting down future appointments plus the possibility that the phone discharges or may lose data require more ‘tangible’ places to note down important information. The classical notebook is normally the best for this purpose. To reach this market, we will employ sales and marketing agents who will be visiting people in their offices and informing them of our innovative notebook.SWOT Analysis for The Book-It NoteStrengths1. Production quality, efficacy, and the potential for new designs2.

Experience in several important distribution channels3. High amount of resources4. Ability for mass productionWeaknesses1. No experience in distributing to offices2. Very little experience in marketing The Book-It Note3. Lack of image and brand awarenessOpportunities1. Large Market2. Market is growing faster than we had predicted and indeed faster than we produce.3. Consumers demand small, stylish, and fashionable notebooks giving us an opportunity to be creative.Threats1. Intense competition from mobile apps2.

Downward pricing pressure potential3. A very small market share