Running head: THE MARKETING PLAN 1
THE MARKETING PLAN 6
Assignment 2: Business Plan Breakdown 2 -The Marketing Plan
Jason Simpson
Argosy University
Marketing entails the art of identifying customer needs and providing services that meet their interests. Despite this, customers have varying preferences thereby highlighting that each organization is characterized by specific needs that ought to be addressed (Lynn, 2014). Primarily, their characteristics define their needs, which features they benefit the most. Target market segmentation refers to the art of categorizing consumers in that the business offerings can be tailored to match the receptive customer segments (Lynn, 2014). In this regard, market segmentation seeks to define customers based on the business services features that they value the most. From a high level, the objective of the marketing strategy is to identify the target market and establish a marketing mix that will be appealing to the target consumers (Lynn, 2014). Considerably, the primary objective is not coming up with a specific marketing strategy but rather focusing on the value proposition to the target market.
In the wake of the evolving business markets, organizations face an increasing need to understand their leadership requirements. Pointedly, this is highlighted by the fact that leadership is integral to the implementation of suitable changes within an organization (Lynn, 2014). In this regard, the marketing plan for the business initiative is tailored to identify specific leadership and change management practices needs faced by organizations in today’s complex business environment. Implicitly, the marketing plan will highlight on the different service features available to address the needs of different organizations (Mustafa, 2017). As highlighted, target customers have varying preferences thereby heightening the need to integrate different service features relating to their interests. This signifies the importance of identifying the potential customers and their respective needs relating to innovative leadership and management of change practices (Mustafa, 2017). Therefore, the marketing plan incorporates different product features to address unique customer needs.
Establishing viable target customers is the core initiative of the marketing plan. Considerably, no two customers can share unique needs as preferences often vary. Significantly, it will be inefficient to develop a marketing plan for a single target customer. With this, the marketing plan will identify the common attributes among the customers (Lynn, 2014). Through this, the business initiative will identify the customers it can serve the best, the target segment. Significantly, the target segment must be classified based on unique characteristics to enhance ease in the provision of the different service features (Lynn, 2014). Therefore, the marketing plan intends to target the market segment by identifying unique needs among the viable consumers.
Positioning Statement
To the best partner for selecting, developing and incorporating world-class organizational leaders.
Products and Services
Today’s business environment is constantly evolving thereby heightening the challenges faced by most organizations. While some of this challenges can be addressed, understanding the leadership requirements for the organization is critical. Considerably, it is essential for companies to integrate effective leadership models for use in developing the next generation of leaders (Mustafa, 2017). The business initiative intends to work in tandem with other organizations to provide a range of services including a clear definition of the talent requirements, taking into consideration the business implications of falling short of (or meeting) the highlight requirements. Significantly, the initiative plans on creating a comprehensive model that emphasizes on what good leadership is for an organization now and in the future.
The business initiative seeks to develop a compelling leadership model that will become an organizing framework for the integration of talent management and facilitation of change management practices. Significantly, this model will enhance assessment of innovative leadership approaches to ensure the organization incorporates strategies to positions it better in the competitive business environment. Considerably, organizational leaders can be assessed through the use of the model, organizational teams aligned to it and incumbents measured against it. Additionally, the business initiative can leverage an organizational current business model by establishing and implementing varying principles. These include developing a rigorous process for engaging the senior team in a thorough consideration leadership needs, issues, and relevance of the existing business model. Consequently, internal communications will be enhanced to introduce the new business model and its ramifications to the different organization levels. Besides, tools, methods, and systems will be enhanced to build capacity in the different areas targeted by the business model. Therefore, the incorporation of a new business model will better position the organization in the competitive landscape by filing in important leadership positions within the company.
The business initiative offers compelling change approaches to enable your organization to adapt to the rapidly evolving changes in the contemporary society. Technological advancement in the modern society is a trend that most organization ought to leverage on. However, incorporating new organizational processes is a significant challenge faced by most companies. This highlights the dire need of developing an absorbing change management business model to better the current organizational processes and equip the company competitive advantage. Therefore, the business initiative seeks to partner with organizations for the structuring of an effective change business model that fits their unique needs.
Pricing Strategy
The business initiative will adopt a fixed bid contract as its pricing strategy. With this, the business initiative or project will be completed for a fixed fee which is determined by the company’s unique needs or interests (Craciun, 2013). The importance of this pricing strategy is that it is our risk to complete the defined objectives within a specified deadline. Failure to complete the objective within the set deadline will require extra hours from our personnel as it is the firm’s dedication to meet the needs of the target customers (Craciun, 2013). By alleviating the risk from the customers, the pricing strategy offers a friendly approach thereby ensuring that high-quality services can be provided at fair prices.
Promotion plan
The business initiative will be marketed through advertisements and business exhibitions. Additional, an interactive website will be developed for easy access by corporations in need of the services. The promotion plan will mainly target organizations facing leadership and change Management challenges. Additionally, companies in need of consultation of the different leadership approach for use will be target market of the promotion plan. The marketing will be conducted for six months after which a review will be conducted to ascertain its effectiveness, primarily, this will be based on the project’s revenue and sales. The objective of the promotion plan is to increase sales of the services offered by the business initiative within the next six months. Therefore, the marketing department will oversee the promotion plan activities to ensure effective dissemination of information to the target market. Specifically, the promotion plan will target both local and international organizations for the provision of the highlighted services. However, stiff competition is expected in the international markets as local businesses are more likely to purchase the different service features.
References
Craciun, C. S. (2013). Pricing of Consulting Services. International Journal of Academic Research in Economics and Management Sciences, 2(1), 47.
Lynn, M. (2011). Segmenting and targeting your market: Strategies and limitations.
Mustafa M (2017) Leadership Innovation and Implement Organizational Change and Lead a New Initiative through Adoption of the Innovation and Change Management Practices for Shiraz Industries Private Limited Company: A Survey from Pakistan. J Bus Fin Aff 6: 278. Doi: 10.4172/2167-0234.1000278
