Marketing Plan Final Paper - 6530 Words

Marketing is essential for every business, be it a small household business or a large multinational group. All businesses depend on marketing in one way or the other. Setting of goals according to entrepreneur’s visions marks the starting o f the plan. It is better to do proper research and documentation before launching a product in the market or else the results will not be according to one’s thinking. Raymond Morose is the owner of Pet Palace and has been running this business for the last 44 years (Manta, 2010). Raymond Morose is running the business with a small staff but is very clear about his goals, as he has set his goals according to SMART approach. SMART stands for specific, measurable, achievable, relevant, and time-based and†¦show more content†¦This will not only retain the existing customers but will also attract new ones to increase the customer base to optimal level. SWOT Analysis – Allergy Be-Gone Marketing plan is always based on information regarding product, customers, market and competitors. The best way to analyze all this information is through a SWOT analysis. SWOT stand for strengths, weaknesses, opportunities and threats. This analysis takes into account both internal and external factors, internals being strengths and weakness, and external being opportunities and threats (Kotler Keller, 2009). Pet Palace can get to know its strengths and weaknesses by its analyzing internal environment. Strengths of Pet Palace include its good name, its loyal customer base and its product quality. Pet Palace should overcome its weaknesses if it wants to gain from its strengths. Current business of Pet Palace is retail store business and it has no experience of production business. Allergy Be-Gone requires a production unit and production skills that Pet Palace does not possess. This can make the capital requirements higher than anticipated. Pe t palace can earn huge profits from Allergy Be-Gone because the currently available solution for allergy problem cannot match with it. Currently available options to customers are shampoos, hand sanitizers and air purifiers (Allergy Relief Pet Care Products, 2010). All of these areShow MoreRelatedFinal Marketing Plan Paper5951 Words   |  24 PagesFinal Marketing Plan Paper Surgey Perez, Adrine Jason, Shirtiar Beasley, Gena Brooks University of Phoenix Introduction As consumers, we are very accustomed to finding products where we need them, when we need them at the price we are willing to pay. This has become such an automatic part of the buying process that we seldom give much thought to how all of this occurs. To put it simply, all of this occurs because of marketing. A great deal of thought has been given to your preferencesRead MoreMarketing Plan Final Paper4426 Words   |  18 PagesMKT/421 April 8, 2013 Ken Metz Marketing Plan: Final Paper and Presentation Fisher Price produced a new product to teach children how to tie shoes. In this paper, there is information about who Fisher Price is a description of the new product, their marketing mix method and a SWOTT analysis of the product. Fisher-Price, Inc. was founded in 1930 and is based in East Aurora, New York. It all started out when Herman Fisher, Irving Price, and Helen Schelle created the toy company and broughtRead MoreMkt 421 Final Exam Answers1681 Words   |  7 PagesMKT 421 Final Exam – Assignment [pic] Questions  to  MKT 421 Final Exam Answers  are as follow: 1. 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