Free Business Plan About Marketing Plan

Type of paper: Business Plan

Topic: Business, Company, Market, Products, Competition, Customers, Technology, Development

Pages: 4

Words: 1100

Published: 2020/10/18

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The company's name is Barr. It specializes in the manufacturing of mobile phones and other home appliances. These may include computers, MP3 players, and head/earphones. They are all electronic devices that were used for communication and entertainment at the same time. The company was located in California, United States. There are branches in the country that mainly deal with the supplying of the products.Environmental AnalysisCompetitive
There is currently a lot of competition coming from other tech companies. Many firms have already developed a good customer base. They are both local and international. Apple Inc. and Samsung are the biggest competitors of the enterprise (Ochtel, 2009). Economic
So far, the taxes that charged by the federal and state government are favorable. The company without any problems has met the taxes and duties that we are obliged to pay. The central bank interest rates are also very favorable making the business operations convenientPolitical
There were no restrictions that had been set to restrict the export of products. Our ability to obtain raw materials in the country has also been working into our advantage. There are no restrictions on the tech business in the local region that the company was located in (Lalkaka, 2006).Legal
The restrictions that had been put in place are at the disposal of the waste material. The business has, however, complied with all of these requirements. Environmental conservation has been another request for the company (Pinson, 2008). Technological
Technology has been improving at a great pace over the years. The company has always focused on making sure that we are at the same rhythm. It has been difficult to keep up with due to the unpredictable changes. Many of our biggest competitors are always ahead of us. Nevertheless, we are sure also to stay competitive in the same.Socio-cultural forces
Developing of tech items in the region and internationally had come to be appreciated. People are willing to see the next technological development, and it is from this social push that the business has been able to grow. The community accepts the products especially the youth both locally and internationally (Covello & Hazelgren, 2006). Primary and secondary target markets for your companyMajor Markets – African countries.Secondary Markets – United States4PsProductPrimary Market

The product needed is mostly on communication devices that use the latest technology.

The product had been designed to satisfy all the day-to-day requirements in the continent.
The customers will experience the new product with the latest Android technologies.
Secondary Market
The product is mainly for communication and entertainment.
It has been built with the latest features in music and video viewing.
Place
Both Primary and Secondary target markets
There are branches that have been set where the products would be retailed and distributed
The products could be bought online via the company's network.
Price
Both Primary and Secondary Target Markets
The prices are affordable.
The price mostly matches those of other similar products in the regions.
Discounts would be offered to loyal customers who purchase many products in our company.
Promotion
Both Primary and Secondary Market Targets
Advertisement through mediums like television and radio is used.
Advertisement was also done through billboards.
Promotions and discounts given at preferred times.
5Cs
Company
Products are latest mobile devices powered by Android.
Has had less than five years’ experience
The goal is to become a multi-national company in the future.
Collaborators
There are companies that had been selected to distribute and supply outside the US.
The company distributes the products in the United States.
There are alliances that were made with local service providers especially in Africa.
Customers
Both markets are achieving a relatively big market growth.
The consumer needs change to adapt to more sophisticated technological equipment.
The consumers purchase the products at the company's outlets.
Competitors
There are actual and potential competitors in both regions.
They sell the same tech products as the company.
The actual competitors have been in these markets for a longer period.
The competitors sell their products at a relatively high price
Context
The market needs change from time to time
STP
Segment
There are 52 countries in Africa.
Each county will be approached differently due to differences in currency and government policies.
All states in the United States will be approached the same way.
Target
The company focuses at becoming a multi-national corporation.
Position
The company is still young in these regions.
Primary goals that you would like to achieve within the next year
Launch my products in Asia and Africa.
Develop a new mobile device.
Open more branches in United States and Africa.
Primary goals to do in the next five years
Expand the business further.
Employ 100 more employees.
Identify new market targets and start operating in them.
Launch a new chain of products in other home appliances.
Strengths
Ability to market the brand
That was the major strength that the company has and has led to the success that has been experienced so far.

Cheap productions cost

The availability of raw materials and manpower has been a stronghold of the company easing the cost of production.
Innovation and design
The creativity of the staff has been a big boost to the innovating and designing of the products
Ready market
There is already an available market in the locally and internationally.
Weaknesses
Too low-profit margin
The company is still experiencing a low profit margin as it is still growing.
Focus on too many products
There is a lot of concentration in many products with the workforce available. That would be resolved after the company's expansion.

Stiff competition

There is stiff competition from already existing competitors like Apple and Samsung.
Dependence on software
The company has sometimes to depend on software from third parties to make the products.
Opportunities
Growing market in India and Africa
There is a large booming market in India and Africa that are market targets for the company.
Strong Financial Position
The business is in a strong financial situation to finance its activities.
Development of new products in the market
The company aims at developing new products. That would be the best opportunity to expand the business as required.

Availability of Untapped markets in several countries.

There are newly untapped markets like Sudan that prove to be potential in future business. Insecurity for the mean time is the primary concern.

Threats

Increasing competition from potential competitors and existing ones
Competition has been increasing on a daily basis in the markets due to a broad range of products.
Growth of tech companies in the target markets
Tech companies are experiencing many growths and hence becoming significant threats.
Insecurity
Most market targets have unstable instability and weak development.
Market dominance
Apple Inc. and Samsung dominate many markets that the company is targeting making it risky to enter the markets.

Needs Analysis

Customers

The company needs to establish a strong customer base like its existing competitors in the same market.Employees

There is a dire need to hire more workforce so that operations can be improved.

References

Covello, J. A., & Hazelgren, B. J. (2006). The complete book of business plans: Simple steps to writing powerful business plans. Naperville, Ill: Sourcebooks.
Lalkaka, R. (2006). Technology business incubations: A toolkit on innovation in engineering science and technology. Paris, France: UNESCO.
Ochtel, R. T. (2009). Business planning, business plans, and venture funding: A definitive reference guide for start-up companies. Carlsbad, Calif: Carlsbad Technology Group.
Pinson, L. (2008). Anatomy of a business plan: A step-by-step guide to building the business and securing your company's future. Tustin, CA: Out of Your Mind & into the Marketplace.

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WePapers. (2020, October, 18) Free Business Plan About Marketing Plan. Retrieved September 22, 2021, from https://www.wepapers.com/samples/free-business-plan-about-marketing-plan/
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WePapers. Free Business Plan About Marketing Plan. [Internet]. October 2020. [Accessed September 22, 2021]. Available from: https://www.wepapers.com/samples/free-business-plan-about-marketing-plan/
"Free Business Plan About Marketing Plan." WePapers, Oct 18, 2020. Accessed September 22, 2021. https://www.wepapers.com/samples/free-business-plan-about-marketing-plan/
WePapers. 2020. "Free Business Plan About Marketing Plan." Free Essay Examples - WePapers.com. Retrieved September 22, 2021. (https://www.wepapers.com/samples/free-business-plan-about-marketing-plan/).
"Free Business Plan About Marketing Plan," Free Essay Examples - WePapers.com, 18-Oct-2020. [Online]. Available: https://www.wepapers.com/samples/free-business-plan-about-marketing-plan/. [Accessed: 22-Sep-2021].
Free Business Plan About Marketing Plan. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/free-business-plan-about-marketing-plan/. Published Oct 18, 2020. Accessed September 22, 2021.
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