Marketing Strategies the Marketing Plan Delivers Marketing Plan

Pages: 18 (5577 words)  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: Master's  ·  Topic: Business - Advertising

Marketing Strategies

The marketing plan delivers the various strategies that All Technology Computer will use to enhance competitive market advantages. The paper discusses the company mission statement and the strategies that the company will use to align its mission statement with its strategic objective. The brand differentiation is an effective marketing tool to enhance marketing advantages and IMC has been identified as an effective marketing tool within the business environment. More importantly, the company will be operating in the U.S. economy and the company will take the advantages of the economic and technological superiority of the U.S. To deliver high quality product and services.

Company Background

ATC (All Technology Computer) is computer hardware and software provider operating in the United States and the company is dedicated to provide the product and services to home offices and small businesses. Apart from establishing in the United States, the company also intends to establish out the United States. The company line of business is in computer and networking services, which it delivers to small business and home offices across the United States. The company also provides other services such as installation of networking system, training and supports for small businesses across the United States.

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However, ATC is facing some challenges with its market opportunities because of the general trends in the it industry, which include lower inventory turnovers, margin squeeze and longer collection periods. This paper provides the marketing plan to address the challenges that ATC is facing and assist the company to enhance competitive market advantages.

2.1: Marketing Objectives

To record sales of more than $10 Million at the end of the 2013 fiscal year.

To improve the company inventory turnover to 7 turn by the year 2013.

To capture the 20% of the market shares from home and small businesses across the United States.

To record the gross margin above 35% and maintain that level.

2.2: Mission

TOPIC: Marketing Plan on Marketing Strategies the Marketing Plan Delivers the Assignment

The mission of ATC is to offer customer the best computer experience by offering customer the high quality computer product and services. Our mission statement is to excel in the computer resell industry. Our mission statement is also to build a strong relationship with both customer and supplier. Over the years, ATC has focused on the personalized services by dedicating rapid and convenience services for customer. The company will also be able to achieve its mission statement by developing strong vendor relationships to meet customer needs as well as using technology expertise to enhance competitive market advantages within the computer industry.

Brand is an intangible asset that organizations use to achieve competitive market advantages. Branding represents the company identity and used to achieve market superiority. ATC will use its branding as a marketing tool to achieve its mission statement.

3: Branding, Pricing and Distribution Plan

One of the major objectives of this marketing plan is to use branding tool to assist ATC to enhance competitive market advantages. Branding is one of the key aspects of business strategy used to manage the product image as well as creating customer value. A brand is an image, emotion and people's perception towards a company's product and services. Branding refers to what customer feel about the company product and services and branding has been identified to play an important role in enhancing corporate identity. (Cheskis. 2012).

Holt, (2010) argues that branding strategy is a key aspect of a marketing strategy, which assists in delivering overall business goals. Brand strategies should be appropriate to enhance business value and brand connotes brand identity. For example, Mercedes Benz has been able to use the brand strategy to display its product as the most valuable auto-car in the overall auto industry. (Schmidt, 2012). The benefit identified in branding will make ATC to use the branding strategy to win both domestic and international market advantages.

3.1: Domestic and Global Product Branding Strategy

ATC will create brand awareness to capture market shares and the company will use brand strategy to capture both domestic and international market. Using different promotion tools, the company will be able to position its products and services both at domestic and international market to create trust in the customer's mind. Essentially, creating a strong brand is critical to establish firm's identity, which assists organizations to develop a customer franchise. Moreover, a strong brand is a strategic weapon to strengthen firms position within competitive market environment.(Douglas & Nijssen 1999). Thus, ATC will use the combination of product and corporate branding to create customer awareness for the organizational product and services. The company will use effective marketing and promotion tools to build the corporate branding. Herrmann, et al. (2010) argues that organizations face challenges when developing positive brand image as well as developing unique brand identity. To ensure that a brand contributes to overall company success, there is a need for the overall support of managerial activities aiming to build a distinct brand image. ATC will use maximum managerial support to promote the product and corporate brands. The corporate brand will be used to enhance the awareness of the company product and service in order to have a lasting effect in customer's mind.

However, ATC will use different branding strategy to create product awareness at an international level because the branding strategy that will be effective at domestic market will be different from the branding strategy that would be used at international market. It is essential to realize that firms need to adopt different strategy within the global market to achieve a global competitive market advantages because of differences in culture and tastes. Thus, ATC will use the branding policy supported by management policy for the global branding strategy. The company will use strategic partnership to launch its products internationally and the company will emulate the business strategies employed by the top Fortune 100 companies in the United States to derive benefits from the global branding. For example, Adidas uses the alliance strategy to collaborate with Porsche and Stella McCartney to design a sport inspired fashion product that has been acceptable to customer. Moreover, many firms use hybrid-branding strategy by using the combination of corporate and product branding within the global market environment. For example, the Coca Cola uses the combination of global brand with the product brand, which includes Cherry Coke, Coke Lite, and Diet Coke etc. Additionally, organizations such as Shell, Apple, Philips and Nike use corporate brand to enhance competitive market advantages. Thus, ATC will use one of three branding strategy to launch its product and services internationally. The company will use combination of corporate and product branding to launch its product at the global level. ATC will also use the company logo and the company name to promote the company product and services at the global market.

Apart from the branding strategy that ATC will use for the marketing and promotion of its product and services, the company will also use pricing strategy to penetrate both domestic and international market, and ATC will use optimum pricing as the choice of its pricing strategy.

3.1: Optimum Pricing Strategy

ATC will attempt to alleviate challenges that firms face when fixing a price for a new product. It is essential to realize that many firms face challenges when attempting to fix a new pricing for their new products. Krishnan, (1999) argues that optimum pricing policies are the best pricing strategy that organizations could use when fixing new pricing for the new products. However, the optimum pricing that firm fix should depend on customer sensitivity. Krishnan recommends that organizations could fix high prices for product and services if customers are less sensitive to the high price. On the other hand, firms should fix lower pricing for the product and service if customers are sensitive to high prices. Despite the argument of the author, it is critical to realize the current recession in the United States has made customer to be sensitive to high price. Moreover, the stiff competition within the market environment has made customer to have different choice of product making many customers to have power to switch to substitute and the issue has made customer to be price sensitive within the market environment.

ATC will fix the premium price for its product using the Parsons, (1987) technique. Parsons, (1987) argues that organization needs to use combination different factors to fix the optimum price, which include:

competitive factor, market conditions,

Consumer utility perceptions.

ATC will evaluate the competitive market environment of domestic market to fix the optimum price. The company will also consider the industry price and the current product price of the competitors before fixing the price for its product and services. At the global level, the company will evaluate the current economic, socio-cultural, political and technological environment of the country that ATC will operate before fixing the optimum price. Typically, Coca Cola is a global company operating in several countries. Coca Cola does not fix the same price for its products across different countries. Rather, the company is using the market condition, economic condition and the level of product… [END OF PREVIEW] . . . READ MORE

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