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Strategic Marketing Plan - Essay Example

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Effective product management and marketing is based on efficient and skillful allocation of resources and strategic planning of the company. For Flower World, marketing means carefully thought strategy and planning based on market analysis and customers' needs identification…
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Strategic Marketing Plan Essay
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Strategic Marketing Plan

The aim of Flower World is to comfort our being and those who we care about. The mission is to deliver quality service to all customers around the world and provide them with an opportunity to send flowers to their beloved. We will strive to provide the opportunity in expressing our customer's feelings with the gift of nature. Flower World is here for you, no matter the distance or time. With the help of social networking websites and well planned strategy Flower World website visitors will assess at least of 150,000 hits. With some exciting selection of product and lack of competitors, Flower World expects to turn at least 50% visitors into customers.
The Flower World services will be based its strategy on a differentiation criterion. This allows Flower World services to shift its focus to brand image and price reduction measures. This strategy will help Flower World services to maintained high-speed growth through continuous optimization of its product mix. Degree of differentiation is not large, and home repair service should represent a market where competitors can differentiate their products and that is why have less rivalry. Rivalry will be reduced where customers have high switching costs - i.e. there is a significant cost associated with the decision to receive products from an alternative competitor. The majority of customers are people from 18-75+ years old who value personal relations and comfort. The majority of customers belong to middle and upper social classes with stable income. The family status will not have a great impact on the target audience characteristics. Flower World services propose to its customers' competitive prices to ensure customer satisfaction. Flower World service can use parity pricing or going rate strategy. This strategy will help the company to attract buyers and create a core of loyal brand support. Nevertheless, penetrating pricing strategy can also be used at the initial stage of marketing campaign. It allows demonstrating product benefits for potential customers.
Competitor targets
Central Asian countries and Africa introduces laws and regulations in order to support foreign subsidies and attract FDI (foreign direct investments). In order to support national economy, the governmental prevents price rises, or even to rolls them back in basic industries such as steel. Governmental involvement seems to relate price increases to the impact on inflation and increased productivity. Government has the influence to block or roll back price increases. Central Asian countries have favorable legal laws and regulations which support market development and growth, thus they limit monopolistic position of every company (Yun and Zhao, 2005).
Economic situation in Central Asia is marked by high inflation rates and low income per capita. Thus, liberalization and high level of investments can be considered as opportunities for the company to enter this country. Central Asia companies have higher standard of living. Social-demographic factors suggest fast population growth and decreased mortality rates. Both in physical appearance and in most aspects of their culture-notably, their language, their traditional form of administration, and ... Read More
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