Strategic Marketing Plan for Weatherpruf Plc
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MARKETING STRATEGY
STRATEGIC MARKETING PLAN
FOR WEATHERPRUF PLC
BY ANDREW JUNIPER, REBECCA WOODWARD
& ANDREW DEIGHTON
Contents
Introduction / Goal Setting
Mission
Corporate Objectives
Situation Review
Marketing Audit
2.1.1
Market Overview and Sales Summary (current target)
2.1.2
Current Financial Position
2.1.3
PEST Analysis
2.1.4
Competition Analysis
SWOT Analysis
Assumptions
Strategy Formulation
Marketing Objectives
Strategy Options
Strategy Chosen
3.3.1
Core target markets / Marketing mixes
3.3.2
Basis for competing / Differential Advantage
3.3.3
Desired Product / branding position
Resource Allocation and Monitoring
Implementation Programme
Controls and Evaluation / Monitoring Performance
Financial Implications / Required Budgets
Operational considerations
Appendices
SWOT Analysis
Background Information
Research Findings
Introduction
Please find enclosed our recommendations (within a marketing planning framework) on how Weatherpruf can alter its marketing strategy to maximise opportunities and minimise threats from its external environment. This report details, specific recommendations, including their implementation, to enable Weatherpruf to position itself more effectively within the market place.
(Marketing planning is vital in business. It is the process by which organisations analyse the external environment and their companies current capabilities, decide upon courses of action, and implement those decisions. It is imperative that companies, continually re-evaluate themselves and understand the changes in the environment in order to maintain “strategic fit” between their capabilities and the market place).
Marketing planning is a systematic process that involves assessing marketing opportunities and resources, determining marketing objectives and developing a thorough plan for implementation and control.
Goal Setting
We understand from Mr Thomas, Managing Director of Weatherpruf, that the overall mission for the company is “to become the leading supplier of shoe polish within the UK market”.
Specifically, he would like to maintain and grow its traditional market (wax). But also, look at how it can increase its overall dominance and profitability within the shoe-polish market as a whole.
1.2 Corporate Objectives
We believe that this can be achieved through the following objectives:
Regain at least 15% of Blooms solid wax market share within 2 years.
To gain 80% availability within the major retailing outlets (including supermarkets) within 1 year.
To launch a new variant of Weatherpruf, in liquid form. (Thus exploiting the new opportunity / market share growth in the child / mother segment)
To reposition the wax products within the consumers minds, including building awareness of Weatherprufs new product range.
Grow volume of wax – through existing links / retailers.
Situational Review (Where are we now?)
3.1.1 Market Overview & Sales Summary
Weatherpruf operates within the UK shoe polish industry. The industry is served by two distinct markets:
Solid Wax
Liquid-based Polish
Wax Market
This is the traditional market for shoe polish, which has been established for over 100 years.
In 1999/2000,
Volume turnover: 200 million units
Sales Turnover:
Ј40 million
Growth Rate:
0% (For the past 5 years the solid wax market
has been static)
Unit Price:
20p per unit
Variable costs:
15p per unit (Weatherpruf)
Wax Market: 10 million (contribution to fixed costs and profit)
Liquid Market
The shoe polish industry was revolutionised in 1990, with the introduction of a liquid based polish. This market has grown rapidly from a small market share to nearly a 1/3 of the market for shoe polish and accounting for half the volume:
In 1999/2000:
Volume Turnover: 100 million units
Sales