A marketing plan is a blueprint that outlines the goals and objectives of a marketing effort by an organization over a given period. The purpose of the program is to provide the specific activities that need to be carried out to meet the set goals and objectives. A good marketing plan should be clear, quantified, focused and realistic. It ensures that the efforts taken by marketing personnel are in line with the firm’s goals and objectives. It also ensures that the initiatives outlined in the plan are productive and also provides that all individuals are working towards achievement of similar targets. The paper will feature an analysis of a marketing plan for an individual business entity.

The selected business is Harmony Hardware located in Texas, United States. The company started in the year 2007, but the competition in the market is high. Harmony Hardware deals with hardware product and also installs some of the products sold. The business earns a profit of two thousand dollars per year. There are similar businesses in the areas, and there is a need to have a well-specified marketing plan. The company has twenty employees and is currently run by the owner who has done sales and marketing. Applying marketing sales will ensure that total sales get increased which will increase the total sales.

The company has specific objectives which are line with the general goals of the company. The company aims at increasing total sales which will get achieved by gaining market shares from the competitors. Increasing total shares will ensure the profit margin will grow within the set time. The second objective is customer satisfaction which will provide there is retention of consumers. Treating customers well increases the chances of their coming back in the future. Thirdly, the company plans to improve the quality of the products and services provided by the employee. The strategy aims to make consumers and society enjoy our services, and this will increase total sales.

The company has specific marketing strategies with which it will use to meet the set marketing objectives. The first strategy is the use of email marketing strategies. Use of emails gets done once customers have bought the products in the company. The company will use the emails to create a good relationship with the subscribers. The customers will then get the emails outlining the available stock as well as any offers that are available. Emails will also ensure that all the queries that the customers get handled within a short period. The company also aims at using social media as a marketing strategy. Social media entails the use of Facebook, Twitter, and instagram to reach out to the potential employees and to communicate to the thriving businesses which may be helpful to the company. Direct messages can get sent to potential and the existing customers informing them of the available products as well as any offers that may be available. The strategy may be used to assure customers of the change in the quality of products offered by the company. Using Facebook entails the use of Facebook ads which should have the set audience in terms of gender, status, age, and geographical location.

The strategies identified should be accompanied by specific marketing tactics which can be used to meet the overall marketing goals and objectives. The first tactics will be reposting the same message many times in the social media which will make people read and understand the content. The messages to be posted will include the testimonies from people who have bought the products in the hardware. Another tactic to be used is employing a social media manager who will be responsible for posting Facebook ads, sending automated emails to the subscribers and doing marketing in social media. The manager should be trained in the right way to handle the social media audience is based on gender, geographical location, age, and status. Offering after sales services will also get used as a marketing strategy.

Financial consideration is a significant requirement in the preparation of a marketing plan. One of the monetary consideration is the projected profits and losses which will prevent running the marketing strategies at a loss. The break-even point of the business should also be taken into account. Another critical financial strategy is the calculation of expenses versus the income obtained. The cost used to cater for the extra marketing strategies should be low when compared to the profits earned within the annual fiscal year. The needs and goals of a business can only get achieved if financial considerations get put into the account.

A marketing plan should have a specific time frame to undertake the specified strategies and objective. The implementation of the plan will take place in July 2019 just after completion of the previous financial year. The profit and loss account will get used as a blueprint to determine the area which needs extra consideration. Use of email marketing strategies will get implemented from customers who buy from July. For consumers purchasing the products via online means then their emails will be easily retrieved. Customers will be expected to give their email address once they buy the product. A social media manager will be hired from July 2019 and expected to start working right after attending the training. After sales services to get offered will include offering transport services to people living within Texas.

In conclusion, a good business should have a well-set marketing strategy made per the business goals and objectives. Experts should be hired when preparing a market plan.

 
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