The a set of clear objectives and

                                                                                       

 

 

 

 

 

 

The
pertinent value of a marketing plan can never be underestimated. Without
adequate marketing, it is virtually impossible for consumers to be in
recognition of the product or the service the company wishes to provide and
similarly it is hard for the company to assimilate their target market or reach
them. The preparation and management of a marketing plan is ultimately the
foundation to which a comprehensible business plan can be formed, it is notably
achievable through the following chronological process;

Ø  The setting of a set of clear objectives and goals`        

Ø  Initial assessment and detailed analysis of the company’s
current situation. This could be conducted through marketing audits, swot
analysis or marketing assumptions

Ø  Creation of the marketing plan and the simultaneous
formulation of a marketing strategy, it is quite important to note that within
a marketing strategy, aspects such as forecasts
of expected results and the creation of alternative plans are included.

 

Ø  Implementation and clear management of the marketing plan,
and the monitoring of results. Furthermore, through the monitoring of results,
the conducting party can examine any correlation between the results and the
detailed action plan. The conducting party would also monitor the budget.

 

Whilst
assimilating these primal factors, it is of the utmost value to comprehend the
correlation between the previously listed points and the analysis of the
business environment as wells as segmentation, the target market and initial
budget.

 

An
alternate impression on the defining characteristics of a marketing plan is
provided by Blithe (2008), as he goes on to state how a marketing plan in
essentiality is based on
Integrating and co-ordinating the company’s marketing efforts, as well as then
producing marketing plans, and ensuing that the plans are carried out in a cost-effective
manner. In most cases
marketing planning is a part of overall corporate strategy.

It is quite often the case
that the definitions of both the marketing plan and that of a marketing
strategy are confused as being the same, although they share intrinsic links,
they are inextricably different.

According to (INVESTOPEDIA,
2017) ‘A marketing
strategy is a business’ overall game plan for reaching people and turning them
into customers of the product or service that the business provides’ in direct
correlation to the differences between the marketing plan and the strategy, it
goes on to state, how a marketing
strategy primarily covers the’ big picture’ in relation to what the business
offers, furthermore it goes on to cover the value proposition and related brand
messaging.

In contrast the marketing plan is how the business
will get across its primary message – the platforms, the creative, the
timing, and so on.

In today’s markets, the need
to constantly have a unique selling point is almost every company’s innate goal
it is universally held that through innovation a USP may be achieved.

As described by Doyle and
Stern (2006, p.198) it is also held that ‘today the pressures to innovate are
greater than ever. Firms have always needed to innovate to survive.’ They also
go on to state that ‘innovation is also necessary to achieve growth.’ Without
growth, a company cannot survive as its competitors will most likely gain more
market share and as a result ultimately oust the company from competing for any
profit.

Innovation can be defined as ‘exploiting new ideas leading to the creation of a
new product, process or service’ by (paggu.com, 2017) it also offers the view
that innovation ‘is not just the invention of a new idea that is
important, but it is actually “bringing it to market”, putting into practice
and exploiting it in a manner that leads to new products, services or systems
that add value or improve quality.

Looking more intricately at Westbere
Garage, it would be wise for the company to innovate to gain major competitive advantage
and a USP over its competitors as the industry is highly popular. In an
environment that fosters garages in high density, to fix cars or to offer ‘Engine Rebuilds and
Gearbox Reconditioning’ as illustrate by (WESTBERE GARAGE, 2016) is simply not
enough.

Furthermore, the world as recognized by some, is
moving away from the conventional motor vehicle and into the realm of the
hybrid and electric car, this entails cars less liable to breakdown due to
mechanical components being severely revised and made to a higher standard and
through electrical software/hardware, are being introduced.

The need to for Westbere Garage to innovate their
service to combat this new social and technological change is imperative and it
is also highly imaginable that the consumers in today’s market need and want to
be sold in accompaniment with the repairs or modifications to their cars, an
experience. Creating a memorable experience with a consumer will improve the
chances of repeat business and thus making a loyal consumer.

For Westbere Garage to successfully innovate, they may
look at developing products they already offer or simply offer completely new
ones. Typically, some techniques for developing products include the following:

1.    Idea generation

This is typically the brainstorming and formulation of a
starting ideology as to what to present. ‘Furthermore, New product ideas can
come from several sources. They may come from international sources-marketing managers,
researchers, sales personnel, engineers, or other organizational personnel’
according to Pride and Ferrell (2003, p. 277)

 

2.    Idea screening

This process validates the product’s viability and whether
it can coherently work with the business objectives. Westbere Garage may screen
the idea of adding a car customization service as it will attract more
customers. This would automatically adhere to the universal objectives of any
business, which are to exist and make money.

 

3.    Concept development
& Testing

This stage is intrinsically linked and is sometimes held as
a two-phase stage. Concept development as denoted by the name, is a process in
which an idea for a product or service is formulated and presented in detail
prior to approval for testing. Furthermore, for a company such as Westbere
Garage, it would be imperative for the approach of thinking from the
perspective of the consumer to be used, as this allows a more apprehensible
concept to be developed and tested.

Another method the garage could employ to help with brand
development may be through the avenue of concept testing, this eludes to the
idea that a small group of potential consumers are presented with the product
or the product idea. Idealistically this would be done in focus groups whereby
the responses to the product can be assessed and are guaranteed to be
versatile, this method is also relatively cost effective and provides
qualitative data.

 

4.    Marketing strategy

A marketing strategy that is well though out and carefully
crafted is imperative for Westbere as it would ensure that the product is well
presented to potential consumers. Typically, a marketing strategy can be
‘divided into four
groups of variables commonly known as the four Ps’ according to Kotler,
Armstrong and Cunningham (2005)    

The four p’s are commonly known as:

1.   
Product.

2.   
Price,

3.   
Promotion

4.   
Place

 

5.    Business analysis

This stage is intricate in nature as it seeks to identify
whether the product that the organization may wish to launch, such as the
customization element to Westbere Garage, fits in with the existing product
mix. Furthermore

Pride and Ferrell (2003, p.278) hold the view that ‘during
the business analysis stage, the product idea is evaluated to determine
potential contribution to the firm’s sales, costs, and profits. They also go on
to state an element that should be heavily considered by Westbere, they ask
whether the ‘demand is strong enough to justify entering the market.’

Alternatively, Dibb, Simkin, Pride and Ferrell (2006. p,
350) suggest that the business analysis stage maybe informed with elements that
circumvent around the idea of ‘what +types of environmental and competitive
changes can be expected, and how will these changes affect the product’s future
sales, costs and profits?’

 

6.    Product development and
optimization

Product development is the phase in which the company looks
at whether it is feasible to produce the product and whether it is cost
effective to produce it. So, for the company in question, it would be looking
at and whether the cost of adding the two products can be kept at the minimum to
justify the final product price.

Furthermore, this phase looks at the product’s attributes,
which will be informed by information gathered through prior stages such as
marketing research and concept testing. And as described by Pride and Ferrell
(2003. p,279) These characteristics must be communicated to customers through
the design of the product.

Furthermore, Dibb, Simkin, Pride and Ferrell (2006. p, 351)
add that the developmental ‘phase of a new product is frequently lengthy and
expensive.’

7.    Test marketing

‘This is the stage that see’s ‘the limited introduction of
a product in geographic areas chosen to represent the intended market.’ Pride
and Ferrell (2006. p. 279) Furthermore, its sole purpose is to determine to
which extent the product will be purchased.

8.    Product launch (commercialization)

This phase looks at the final stage
at which plans for production and manufacturing must be made definite but
ultimately before that, they must be refined. In addition, this is the stage at
which budgets for the project must be formulated and approved.

Pride and Ferrell (2003. p,281)
also go on to state that, ‘early in the commercialization phase, marketing
management analyzes the results of test marketing to find out what changes are
needed in the marketing mix before the product is introduced.

 

When deciding how to price the new
service of customization and paint wrapping, it is a viable option for Westbere
Garage take an approach of pricing for market penetration. Since Westbere
Garage is not a key market share holder in this segment due to its prior
un-involvement, it would be the best option to set prices at a lower rate than
competitors such as KAP tuning and Quantum Tuning Canterbury. Another primary
competitor which could potentially overshadow Westbere garage in terms of body
customization could be Mad Motors, they charge anywhere between £59.00 to £200
for a customized front bumper, and they also charge the same for the back
bumper. (Mad Motors, 2017) Important to note that the prices given relate to
the VW golf hatchback which according to (Carbuyer, 2017) is one of the
best-selling cars in the UK, Due to its popularity, it is highly likely to be a
regularly customized car by the company.

 

However, because Westbere garage
would offer both car body customization and paint wrapping, they may choose to
become price leaders through a premium pricing strategy. This may work as they
would be effectively one of the only company’s in the whole Kent area that
would offer all the services at one store location as opposed to the
competitors who do not have as much of a versatile product range.

Distribution of the product would
be very limited as the company has one store, this in-avertedly puts the
product at one place which could serve a niche market depending on how the
company chooses to market. In terms of communicating the product, the company
in question may wish to increase its social media presence in relation to their
Facebook page which is not regularly updated. To do so would guarantee the attention
of consumers and especially throughout the introductory phase of the new
products, the company can also post details of the new products.

 

Also, due to the size of the
company, it may want to also focus largely on user experiences, as a method of
communicating the product as opposed to media reviews, which would be better
suited to a company larger in stature.

User experiences allow for positive
experiences/testimonials to gathered and published on the company website and
media pages. Lastly, Westbere Garage can use the messaging strategy, this
should simply denote what the products offer and do, this would be enough for
the consumer as it is simplistic and direct.

Market

 

Westbere Garage may wish to measure
and review their marketing performance following the introduction of their new
products. They may do this by observing the following

Brand
Awareness
Lead
Generation
Thought
Leadership
Customer
Acquisition
Customer
Engagement
Customer
Retention
Lead
Management
Sales
Repeat Clients and/or Website Visitors

Another method to measure marketing performance would be for Westbere
Garage to gauge their ROI. This could be done by:

Website analysis

This could be an analysis of how much the website traffic is increasing
or decreasing by, this could be broken down into annually, weekly, daily or
even hourly.

Social media analysis

Westbere Garage may look to observe, their page traffic, increase in
followers or which one of their posts is ranking most popular at that moment in
time.

Furthermore, they may look at how many people are engaging with and not
just seeing the posts. Furthermore, they can look at who is sharing their
posts.

These are some methods of measuring ROI on digital web-based marketing.

Alternatively, (Lumen) states that
there two forms of ROI, short term and long term. When measuring short term
ROI, aspects such as revenue in the form of market share, contribution margin
and other desired outputs are observed’

Contrastingly
when measuring long-term ROI, it states that it can be used to forecast other
less tangible aspects of marketing effectiveness such as increased brand
awareness and other consumer motives.

In addition, other ways to measure marketing performance are key
performance indicators (KPI’S) and return on marketing investment (ROMI)

Marketing Plan

Background situation

Prior to the initial product launch, Westbere Garage should
introspectively look at their positioning and use environmental scanning tools
such as pestle analysis. Furthermore, they should also use SWOT analysis to
further gauge their company’s position.

Through this analysis, some key elements like the following could be
highlighted.

S- located in a region where there are competing firms like Mercedes
Benz, who charge premium pricing for their services, this means they can charge
less and attract customers otherwise deterred by Mercedes Benz.

W- location quite far outside the city center, which can mean a niche
market is attracted as opposed to Kwikfit who are located near the city center
in Wincheap.

O- addition of the customization service and paint wrapping can increase
market share.

T- the increasing popularity of the electric car is meaning that garages
are becoming inundated as the conventional car is being replaced.

The Company can also look at sales figures and marketing figures to
further gain an understanding of the current positioning of the company.

Another part of the marketing Plan is conducting the background
analysis. This according to Doyle and Stern (2006. p, 86) ‘falls into two parts. The first accounts for the current performance whilst
the second seeks to project future performance based on current assumptions
about the environment and the policies of the business and where the business
is going.

For Westbere Garage, the business could identify that its product line at
this moment in time is very much conventional, ordinary if anything and is not
very differentiated in comparison to its competitors. However, with the
addition of the new products, a USP can be achieved and the new direction of
the company could be that of becoming the market segment leader.

The opportunities are quite simply, gaining a USP which would guarantee
the company an influx of new customers. Another opportunity is diversifying the
product range and gaining notoriety which would ultimately enhance the brand
image.

Objectives


Marketing Goals –  They should be
formulaic yet clear in terms of sales goals. Furthermore, Doyle and Stern
(2006. p,87) go on to state that ‘it is important to specify a market share
target, since in high-growth markets adequate sales growth can disguise
declining market share performance.’

There
are a range of marketing goals and sometimes they can be broken down into short
term and long term

For
Westbere garage, short term goals for the body customization and paint wrapping
service can be that it spikes website traffic, and increases the conversion
rate of site visitors into actual consumers. In addition, follower numbers
increasing helps further the brand as more people will know of it, this may be
applicable on social media sites such as Facebook.

In
contrast, long term goals can include an increase in brand awareness, a more
positive brand image and search engine optimization. Lastly name recognition
may be one of the most imperative goals attainable as this would mean that the
local market knows the brand name well and can identify it thus increasing the
probability of word of mouth marketing and new customer engagement.

Marketing
strategy

Target market segment –
Westbere garage may look to target consumers within the age demographic of 18 –
35 furthermore, a demographic that has a higher disposable income and lives in
the city. They may choose these as their primary demographic segmentation
criteria as car enthusiast range in age and general characteristics thus making
them hard to pinpoint.

Differential advantage – for
Westbere Garage they may seek to clearly outline how their service is unique
and is professional, in a sense they need to make the customer feel
intrinsically linked with the brand.

Marketing Mix

1.   
Product, which in this case would be the car
customization service and additional paint/car wrap product.

2.   
Price, how much Westbere garage would charge for the
product. This looks deeply into whether the company wishes to price the
products at a premium of whether they choose economy/penetration pricing. It
would be wise to choose penetration pricing then gradually move on to premium
pricing.

3.   
Place, this is according to Kotler, Armstrong and
Cunningham (2005) ‘The activities that make the
product available to consumers.’ Furthermore, this looks at
the accurate selection of channels to distribute the product

4.   
Promotion, Kotler, Armstrong and Cunningham (2005) also
view this as ‘The activities that communicate the
product’s features and benefits and persuade customers to purchase the product.’ Westbere garage may wish to promote
their new products through avenues such as point of sale, which on its own is
effective as consumers can gain an insight into the benefits of the products
first hand. Furthermore, it would be wise for Westbere garage to use direct
mail advertising as part of promotion due to its practicality as a great way to
reach prior existing customers and it is also an apprehensive way to cultivate
new potential customers.

Action planning

These plans specify who is responsible for what and are
accurate measures for implementation. The plan for Westbere Garage should look
at time scale (when everything should be completed)

Budget

The final step would be to develop a budget that outlines
and projects expenditures for the company as well as cash flows and profits
‘over the planning period’ Doyle and Stern (2006, p.89)

Task 2

Front page of poster.

Second page.

 

 

 

References

B%Q, 2017. Local Support Available at: http://www.diy.com/corporate/community/local-support
(Accessed:11/12/2017)

Blithe, j. (2008) essentials of marketing, 4th
edition, Essex, England: Pearson education limited

Carbuyer, (2017) The UK’S top 10 best selling cars. Available
at: http://www.carbuyer.co.uk/reviews/recommended/best-selling-cars
(Accessed: 10/12/2017)

Dibb, S. and Simkin, L. and
Pride, W.M. and Ferrell, O.C.(2006) +Marketing
Concepts and Strategies. Boston, MA: Houghton Mifflin Company

Doyle, P. and Stern, P. (2006)
Marketing Management and Strategy. Harlow,
Essex: Pearson Education Limited. Fourth Edition.

INVESTOPEDIA, (2017) Marketing Strategy Available at: https://www.investopedia.com/terms/v/valueproposition.asp
(Accessed: 15/11/2017)

Kotler, P., Armstrong, G., Cunningham, P.H. (2005). Principles of Marketing. Toronto:
Pearson Education Canada

Mad Motor, (2017). VW Golf Mk7
12- Body Kits Available at: https://www.madmotors.co.uk/body-kits/vw/vw-golf/vw-golf-mk7-12-body-kits.html (Accessed: 10/12/2017)

paggu.com, (2017.) What
is Innovation? Why Innovation is important? Available at: http://www.paggu.com/getting-into-roots/what-is-innovation-why-innovation-is-important/ (Accessed: 16/11/2017)

Pride, W. M. and Ferrell, O.C.
(2003) Marketing. 12th
edition, Berkeley, Boston, MA:
Houghton Mifflin Company