Marketing 7
Instructions
Marketing Plan Project: Final
Throughout the four phases of this marketing plan project, you have created the important, detailed marketing plan sections necessary to enable your selected company to prepare the business to launch innovative new products that are designed to increase sales to current customers and to reach potential, new customers within their target market segments.
This Unit VII Project represents the final assignment in a series of project assignments, which will complete the marketing plan for the company you selected in Unit III.
Rather than combining your previously completed sections (submitted in Units III–VI) into one document, in this final project, you are to summarize and condense each section that was previously submitted. The summarized sections should contain two to three paragraphs in your final marketing plan.
In addition, now that all the marketing plan sections have been completed, you can now create the plan’s executive summary. The executive summary is the most important part of the plan because it encapsulates all of the important strategy summary information and analysis shown in more detail throughout the other marketing plan sections in two to three paragraphs. Remember, the executive summary should only include information summarized and taken from the other marketing plan sections. It should be thorough but succinct.
As a review, the marketing plan consists of the following sections listed below.
- Executive Summary
- Situation Analysis
Market Summary
SWOT Analysis (i.e., analysis of strengths, weaknesses, opportunities, and threats)
Competition
Product Offerings
Distribution - Marketing Strategy
Objectives
Target Markets
Positioning
Strategies
Marketing Mix
Marketing Research - Financials
- Controls
Implementation
Marketing Organization
Remember, the final marketing plan project should not contain information that was simply copied and pasted from previously completed assignments. Your Unit VII Final Project should contain a condensed summary of each of the sections previously submitted to form the concise final project. You should also include an introduction to your final marketing project. This assignment should be at least three pages in length and consist of the executive summary and the section summaries.
You should include the sources that you used in Units III–VI to support your sections for the marketing plan. Your sources should be from the CSU Online Library, but you may also include outside sources as well. All sources used, including the textbook, must be referenced and follow APA formatting, and quoted or paraphrased material must have accompanying in-text citations.
Please see attachment
Running
he
a
d:
PROCTOR A
N
D GAMBLE CO.
1
PROCTOR AND GAMBLE CO. 1
Proctor and Gamble Co.
Student
‘
s
Na
me
Institutional Affiliation
Cou
rse
Na
me
and Number
Instructor
‘
s N
ame
Due Date
Proctor and Gamble Co.
Executive Summary
Proctor and Gamble is an American-based company known for its production of household items. They are known for approximately 250 brands in six categories. P&G is associated with its continued concern for improving lifestyle and quality in people’s lives. The company proposes to meet consumer demands and needs accordingly (Procter and Gamble, n.d.). It adopts different strategies given the dynamic nature of its competitive environment and has continuously gained a competitive market position. As such, it continually devises new ways of coping with change and maximizing its profitability.
Situational Analysis
Founded in 1837 in Ohio, the company incorporates three significant segments: household product segmentation, healthcare segmentation, and beauty segmentation. Their business is famous worldwide, with their objective focusing mostly on social and environmental sustainability (Procter and Gamble, n.d.). The company purposed to sell approximately $46 billion of sustainable modern products to improve its environmental profile. The focus is on producing a product that is environmentally friendly and emits less carbon IV oxide.
Market Analysis
The company is divided into six geographical segments, including North America, Latin America, Europe, India, the Middle East, and Africa, Greater China, and Asia-Pacific. Out of these six segments, 23% of the company’s revenue comes from Europe, while 45% comes from Northern America. Two-thirds of the company’s total revenue comes from developed markets (Rehamn et al., n.d.). However, the company faces increased competition from Unilever rivals, who have penetrated the market and focused on driving sales and growth in developing markets.
Situational Analysis
A situational analysis involves evaluating the company’s internal and external factors that are likely to affect its overall performance. This would apply an analysis of the company’s strengths, weaknesses, opportunities, and threats.
SWOT Analysis
Strengths
The company’s market value was ranked at $192 million as of 2014. It has a significant market share worldwide with over 300 brands. Additionally, the company has well-trained staff who are well versed in customer relations. Its gross profit margin is higher than the set industry average, making it significantly better (Duddy et al., 2018). It was listed in Forbes magazine as one of the most innovative companies in the state. The company heavily invests in research and development, setting aside approximately $2 billion.
Weaknesses
Among its weaknesses, the company faces immense competition that affects its market share. With the world advancing each day technologically, online marketing has become popular, but it has continuously lagged in this sector (Duddy et al., 2018). Given that the target audience for most of their products is women, they do not meet the increased demands of their male customers, losing out on this.
Opportunity
The company has an opportunity to venture into brands that appeal to male audiences, establishing a social relationship. Such a venture is likely to impact their consumer relations and enhance positive outcomes. The company also has an opportunity to expand into new territories like China and India.
Threats
The company faces threats from the increased competition each day. Most products are available at lower prices from different companies, causing a cause for concern. The cost of the raw materials used in P&G products has also increased, affecting its price at a considerable rate.
Competition
The company has six business segments centralized around its product lines, including healthcare, grooming, fabric and home care, beauty, baby, feminine, and family care. It is recognized for iconic and renowned brand names ranging from laundry detergents to grooming and beauty products such as Pampers, Oral-B, Olay, Gillette and Venus, Tide, Bounce and Downy, and Vicks, among others (Procter and Gamble, n.d.). Pampers is P&G’s largest brand worldwide.
The company battles with different competitors from smaller and other multinational companies in each of its segments. In the fabric and home care segment, the company recorded 33% net sales from Downy and Bounce products. However, the company’s major rivals in this segment include brands like Ajax, Palmolive, and Fleecy from Colgate-Palmolive, Surf and Persil from Unilever, and the Arm and Hammer product line from Church and Dwight Co. In family care, the company’s major competitors include Colgate-Palmolive, Unilever, and Church and Dwight Co. As of 2019, this segment accounted for 27% of its net sales (Rehamn et al., n.d.). The company recorded 19% of its net sales with Avon being its primary competitor in the beauty segment. Other competitors include Estee Lauder, Unilever, and Revlon. The company accounted for 12% of net sales in the healthcare segment as of 2019 with popular brands like Vicks and Prilosec. Its primary competitors include Colgate-Palmolive and Ecolab, among others. The company’s dominant player is Gillette, accounting for approximately 9% of net sales in grooming. Bic is the company’s primary competitor on a global scale. There have also been some new entries in this segment, such as Dollar Shave Club by Unilever.
Most of these companies use lucrative tactics such as promotions, famous brand ambassadors, price reductions, and a range of products. For example, in Africa, Unilever focuses its marketing campaigns on various products they have and their affordable price ranges. The same strategy applies to the Middle East. In Europe, the competition thrives on the variety of options they offer their consumers and digital marketing.
Product Offerings
Some of the most iconic features include the Gillette Heated Raze, which is valued at $2000 and appeals to the male audience as convenient, considering that it has a stainless-steel warning bar and a battery-powered handle. The company also has Joy razors for women, retailing at $8.97 each for women who prefer the Venus razors. Whole the Joy razors appeal to a younger generation; the Venus razors appeal to women of all ages (Procter and Gamble, n.d.). The third iconic feature is the Oral-B Genius X, an electric toothbrush that retails at $220 and displays artificial intelligence to inform users where they have brushed. It detects pressure, brushing time, and brush orientation and location. This data is sent to an Oral-B app that identifies where users are brushing.
Distribution Channel
The company has an effective distribution channel for running its operations, including manufacturers, distributors, retailers, and consumers. These channels make it possible to sell the products at an efficient and cost-effective price. The products are available at discount stores, convenience stores, and even supermarkets (Haddad, 2017). The products are locally available and are low-cost items that stimulate sales. The company has an extensive distribution channel to record profit margins in its sales. Their products are also conveniently packaged and easy to transport and require no sales force since it embraces direct advertising.
References
Duddy, C., Rawlins, M., Pepe, S., & Gottlieb, V. (2018). Background and introduction. Retrieved from
http://shannonpepe.com/wp-content/uploads/2019/02/Marketing-Project-Part-I
Haddad, M. (2017). FMCG Distribution Challenges & Workable Solutions. Lulu. com. Retrieved from
https://books.google.com/books?hl=en&lr=&id=x1o-DwAAQBAJ&oi=fnd&pg=PA10&dq=proctor+and+gamble+distribution+channel%3B&ots=MqKM924nqP&sig=Hn3MuRzkhYv1Uo9kUuefMq3pZvU&redir_esc=y#v=onepage&q=proctor%20and%20gamble%20distribution%20channel%3B&f=false
Procter and Gamble. P&G brands and products. Us.pg.com. Retrieved 20 October 2020, from
https://us.pg.com/brands/
.
Rehamn, F. U., Din, H. U., & Parveen, S. Analysis of the Consumer’s Preferences about Goods Produced by Procter & Gamble and Unilever Pakistan: Case of Peshawar. Retrieved from
https://core.ac.uk/download/pdf/234694134
Running head:
PROCTOR AND GAMBLE CO.
1
Proctor and Gamble Co.
Student
‘
s
N
a
me
Institutional Affiliation
Cou
rse
N
a
me
and Number
Instructor
‘
s N
a
me
Due Date
Running head: PROCTOR AND GAMBLE CO. 1
Proctor and Gamble Co.
Student’s Name
Institutional Affiliation
Course Name and Number
Instructor’s Name
Due Date
Running Head: PROCTOR MARKETING STRATEGY
1
PROCTOR MARKETING STRATEGY
6
Proctor Marketing Strategy
Student’s Name
Institution
Date
Proctor Marketing Strategy
Marketing objectives
The marketing strategy will be drawn and undertaken based on a particular marketing budget to attain the maximum impact possible in the market. The strategy needs to be effective because it will be defining the overall direction and goals in terms of company marketing. The strategy articulates the products and services delivery that will attract and satisfy the customers fully. The target market is well defined because it costs of customers that value household items.
The “Procter and Gamble company used the marketing mix, the 4Ps, which is very much typical in the consumer goods industry” (Bahadir et al., 2015). The marketing mix or the 4Ps consists of price, promotion, place, and product, which use tactics and strategies to achieve the objectives in the “marketing plan”.
For this situation, “Procter and Gamble” have a showcasing blend that uses different ways to boost stage entrance. Market infiltration is one of the organization’s principal development techniques. The worldwide market presents provoke connected to a variety of items and shoppers.
For instance, “P&G must offer a wide” assortment of items that fulfill various purchaser kinds and market sections’ inclinations. “Procter and Gamble”’s promoting blend delivers such worries to guarantee high business execution. In any case, the purchaser products market is exceptionally powerful (Bahadir et al., 2015). “This condition requires Procter and Gamble” to adjust its showcasing blend to coordinate the changes and difficulties in the worldwide market.
A multiple approach showcasing blend technique for the worldwide dissemination of purchaser products empowers “Procter and Gamble” to upgrade its presentation. Nonetheless, the organization’s methodology stays normal in the business. “This condition makes P&G” helpless against the serious forceful procedures of different firms, for example, Unilever. Changes in systems, particularly in dispersing items “through online stages, can make Procter and Gamble’s” advertising blend more successful.
The “Procter & Gamble products”
This used element notices the company outcomes that are provided to the buyers or the target customers. For this situation, “Procter and Gamble’s items are delegated customer merchandise”. The association recalled sustenance and rewards for its thing mix until the Pringles brand was offered to the Kellogg Company in 2012. Streamlining attempts to focus in the business on the most valuable item contributions have also identified with changes in Procter and Gamble’s progressive organization (Goi,2019). These movements were highlighted making the association easier to administer. Starting at now, “Procter and Gamble’s” thing mix has the going with segments such as baby, family, and feminine care, home and fabric care, health care, grooming, and beauty.
These fragments rely upon how “Procter and Gamble” manage its customer stock business. For example, each part of things has a committed organization labor force and is represented as a segment in “P&G”’s yearly filings with the “U.S. Insurances and Exchange Commission”. The “Procter and Gamble Company’s Beauty” area joins things like Pantene chemical and Safeguard cleaning agent. “Sharp edges, razors, pre-shave, post-shave things”, and related machines are accumulated under the Grooming piece. “Procter and Gamble” bunch oral consideration items and enhancements into the “Health Care” portion (Goi,2019).
The Fabric and Home Care section incorporates clothing cleansers, “texture enhancers, and related items. The Baby, Feminine, and Family Care section incorporates Procter and Gamble’s Pampers diapers and related items, Tampax female consideration items, and Bounty and Charmin tissue paper items”. The assortment and scope of these product offerings show that the organization has extended its tasks.
The distribution/place in marking mix
The scenes for executing with target customers or buyers are settled in this segment of the displaying mix. The “Procter and Gamble Company’s” vision announcement and mission statement require offering things to buyers around the world, thusly controlling the association’s endeavors for this part of the advancing mix. Several elements related to the dissemination of the organization’s shopper merchandise.
The promotional mix
This part of the promoting mix, in any case called the displaying correspondences mix, perceives the association’s trades systems in showing up at target customers or purchasers. For such circumstances, “Procter and Gamble” utilize every one of the five sorts of correspondence strategies (Hanssens et al., 2016). Be that as it may, the organization’s dependence on publicizing is run of the mill in the customer products industry. Procter and Gamble’s correspondences strategies are as per the following, organized by their hugeness in the business, such as direct marketing, advertising, personal selling, sales promotion, and public relations.
The Procter and Gamble prices and the strategies for pricing
Worth centers, esteem ranges, and worth bases are settled in this segment of the publicizing mix. “Procter and Gamble” apply costs that extend wages and advantages. The organization changes its costs as per the states of the buyer products market (Rahmani et al., 2015). The accompanying estimating techniques are pertinent to Procter and Gamble’s business, talk of “premium pricing strategy, the market-oriented pricing strategy”, and the product bundle pricing strategy.
References
Bahadir, S. C., Bharadwaj, S. G., & Srivastava, R. K. (2015). Marketing mix and brand sales in global markets: Examining the contingent role of country-market characteristics. Journal of International Business Studies, 46(5), 596-619. Retrieve from
https://link.springer.com/article/10.1057/jibs.2014.69
Goi, C. L. (2019). A review of the marketing mix: 4Ps or more? International Journal of Marketing Studies, 1(1), 2.
http://student.bms.lk/CBM/Slides/MarJourArticle/Main%20criticsm%20of%20marketing%20mix
Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., & Yildirim, G. (2016). Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), 534-550. Retrieve from
https://pubsonline.informs.org/doi/abs/10.1287/mksc.2013.0841
Rahmani, K., Emamisaleh, K., & Yadegari, R. (2015). Quality Function Deployment and New Product Development with a focus on Marketing Mix 4P model. Asian Journal of Research in Marketing, 4(2), 98-108. Retrieve from
http://www.indianjournals.com/ijor.aspx?target=ijor:ajrm&volume=4&issue=2&article=009
6
Running head:
FINANCIALS IN MARKETING PLAN
1
3
FINANCIALS IN MARKETING PLAN
Financials in marketing plan
Name
Institution
Professor
Course
Date
Marketing planning
Financials section
This section ensures that the market planning strategy you are about to carry out is realistic and actionable (Westwood, 2019). In this section we will major in sales forecast and expenses budget. They consist if the following:
Sales forecast
Forecasting of sales is important since it helps one to have a good control of the inventory, one can have a better understanding of the customers want, their preferences and their queries about your products (Kotler & Kotler, 2017). Sales persons in the company can also use the sales forecast to know which products move faster than the others.
The following is a sample of sales forecast for Procter and Gamble Company from
January
20th
to May 20th:
SALES FORECAST
PRODUCT NAME
February 20th
March 20th
April 20th
May 20 th
Always menstrual hygiene products
Price per unit
$
200
. 00
$ 200. 00
$ 200. 00
$ 200. 00
$ 200. 00
Units sold
50
40
60
40
50
Total
$
10,000
. 00
80,000
120, 000
80, 000
10, 000
Charmin bathroom tissue
Price per unit
$50. 00
$50. 00
$50. 00
$50. 00
$50. 00
Units sold
100
100
200
200
Total
100,000
50, 000
10, 000
100,000
Downy fabric
Price per unit
$ 150. 00
$ 150. 00
$ 150. 00
$ 150. 00
$ 150. 00
Units sold
200
300
300
200
200
Total
300, 000
450, 000
45, 000
300, 000
300, 000
Bounty paper towels
Price per unit
$ 300. 00
$ 300. 00
$ 300. 00
$ 300. 00
$ 300. 00
Units sold
500
600
600
600
600
Total
150, 000
180,000
180,000
180, 000
180, 000
Dawn dishwashing
Price per unit
$ 400. 00
$ 400. 00
$ 400. 00
$ 400. 00
$ 400. 00
Units sold
600
700
800
800
800
Total
240, 000
280,000
Ariel laundry detergent
Price per unit
$600. 00
$600. 00
$600. 00
$600. 00
$600. 00
Units sold
100
200
300
300
200
Total
600,000
120,000
180,000
180,000
120,000
Crest toothpaste
Price per unit
$ 250
$ 250
$ 250
$ 250
Units sold
1000
900
800
700
600
Total
250120, 000
225, 000
160,000
350, 000
150, 000
Expenses budget for proctor and gambler
An expense budget, is used to tell how much it is going to cost for you to make the sales you have forecasted. If the costs are low it shows you are less exposed to risk. It is important to have an expense budget since it helps one to organize how you are going to spend the savings available. It prevents one from overspending in some areas and leaving some with no funds to spend on. Once you have your budget you are able tell any possible potential issues in the future (Cohen, 2018). .
| January |
YEAR TO DATE |
|||||||||||||
|
FIXED |
Budget |
actual |
variance |
Actual |
Variance |
|||||||||
|
executive salaries |
97,200 |
43, 872 |
35.89 |
65,000 |
96,000 |
15.6 |
||||||||
|
office salaries |
11,300 |
789,123 |
1.34 |
32, 000 |
45, 400 |
8.74 |
||||||||
|
employee benefits |
22,900 |
35, 123 |
15.34 |
145, 000 |
3 12, 000 |
|||||||||
|
payroll taxes |
57,000 |
312, 098 |
14.23 |
200,000 |
310,00 |
|||||||||
|
rent |
7 6, 000 |
78,123 |
3.45 |
146, 789 |
||||||||||
|
audit |
100, 000 |
6.78 |
45,890 |
|||||||||||
|
transport |
26, 00 |
234,123 |
||||||||||||
|
utilities |
567,125 |
|||||||||||||
| taxes |
3 1, 000 |
4.74 |
56, 897 |
5.4 |
||||||||||
|
VARIABLES |
||||||||||||||
| 12, 000 | ||||||||||||||
|
miscellaneous |
4, 000 |
|||||||||||||
|
stationary |
1, 000 | |||||||||||||
| 6, 000 | ||||||||||||||
|
TOTAL |
188,400 |
1,856,369 |
135.97 |
1,901,261 |
963,246 |
146.8 |
||||||||
The following if a column graph that shows the fixed graphs for the month of January: one visible tell which expenses will cost more than the others. This kind of a graph is important since the stakeholders can easily understand what the budget contains and they can tell whether it is work or not (Piercy & Morgan, 2018). As per our results, our costs are a bit high. This shows that the plan is quite risky.
References
Cohen, W. A. (2018). The marketing plan. John Wiley & Sons.
Kotler, P., & Kotler, P. (2017). Marketing for nonprofit organizations (Vol. 2). Englewood Cliffs, NJ: Prentice-Hall.
Piercy, N. F., & Morgan, N. A. (2018). The marketing planning process: behavioral problems compared to analytical techniques in explaining marketing plan credibility. Journal of Business Research, 29(3), 167-178.
Westwood, J. (2019). How to write a marketing plan. Kogan Page Publishers.
FIXED BUDGET
executive salaries 97200 office salaries 11300 employee benefits 22900 payroll taxes 57000 rent 0 audit 0 transport 0 utilities 0 taxes 0
Running Head: STRATEGIC MARKET IN ORGANIZATIONS 1
STRATEGIC MARKETING 2
Strategic Market
Name
Institution
Professor
Course
Date
Strategic Market
Introduction
The chosen company is Proctor and Gamble which is an American associated organization which is identified for its production regarding the household items. They are usually referred to being prominent for their possession of about 250 brands in the six categories. It is a company that is associated with the progressive concern for the enhancement of lifestyle along with quality in the lives of people. The organization usually proposes to meet the demands of consumers as well as their needs effectively. It usually adopts various distinct techniques to attain competitive advantage. The following research paper aims at analyzing the marketing plan strategies for the company.
Controls
The creation of the effective management measures is vital in helping the company to evaluate the results of the company along with reveal the identified unexpected performance associated deficiencies that need to be corrected. P&G will set its goals and objectives effectively which will act as the foundation on which effective marketing will be carried out. It will also reduce conflicts that may take place in the organization while evaluating the outcomes. Nonetheless, there is Performance planning which is vital in having a well articulated set of activities in the marketing plan and will help to analyze what is needed in the organization in regard to marketing (Brito, 2013). The use of goals as a foundation, performance planning helps in setting the identified stage for the year through the communication of objectives and also in setting any actionable plan to help in the achievement of a good evaluation.
There is also the creation of an ongoing process. This entails the management of performance through planning activities along with having monitoring of performance and the feedback. All these need to be continuous as it creates a support system in the company needed for the encouragement of efficiency in the marketing plan and strategy for P&G Company. There will also be enhanced productivity via better and improved goal management as marketing is aimed at enhajed productivity and thus the need to have a good strategy that helps in the preparation of contingencies needed for the future evaluation and corrections (Review, 2013).
Implementation
Monitoring is considered to be a good and essential step for enhancing the correction of mistakes that may be realized in the marketing strategy of P&G. The implementation phase will be an inclusive stage in regard to the monitoring aspect as it will be executed by all he people who possess an interest in the identified project. All the involved people will be included in the monitoring phase since this will help in achieving efficiency in the evaluation of the interrelated stages from the given beginning. A situation analysis will be used in this phase. Situational analysis is considered to be a type of process via which the identified general features along with the issues associated with the community and the organization in general. It entails the identification along with the definition regarding the features as well as the issues that are considered to be specific to the specific categories regarding the organization (Younger & Smallwood, 2016).
The situational analysis will entail various vital information. This will include the economic as well as social activities in association to the organization. The political as well as the administrative structure will be included too and this may entail the management bodies. The techniques to be used in the collection of information for evaluation of the implementation phase will entail the document reviews as well as problem trees, brainstorming and having formal conversations in meetings to understand the different aspects.
Marketing Organization
The organization has been arranged according to structures available in the organization for increased success and efficiency. These structures entails the Functional structure whereby as the identified sales increase, the various forms involved in marketing opt to use a functional structure as this one is good in grouping the employees on their functional areas on the basis of expertise. These functions entail the value chain such as the R&D and the operations stage. The product structure is usually on the basis of products which are usually supported by the centralized types of services such as PR and business development (Williams, 2017).
Customer structure entails the use of segmented business customers for marketing purposes for making sure that all the needs of customers are handled effectively. Geography structure is usually done on the basis of location and is vital in allowing flexibility in the marketing associated strategies. The rest of the departments in the organization will enhance the planning phase by assisting in the identification of issues along with opportunities. There will also help in the formulation of alternative plans as well as in the evaluation of the given alternative plans.
Conclusion
For an effective marketing plan and strategy it is vital to include he various aspects that ensure a higher competitive edge for a company while promoting it. P&G company is a company that works hard to attain a higher competitive edge thus the need to have an efficient marketing plan that will be implemented. First and foremost, it is vital to understand the essence of making use of the various human associated resources. This is vital in organizations effectiveness regarding a firm. There is also the need to focus on aspects that facilitate the growth along with the development of an organization while at the same time keeping the customers in mind (Brito, 2013).
References
Brito, M. (2013). Your brand: How a social business strategy enables better content, smarter marketing and deeper customer relationships
Review, H. B. (2013). HBR Guide to Project Management (HBR Guide Series). Boston: Harvard Business Review Press.
Williams, T. C. (2017). Filling execution gaps: How executives and project managers turn corporate strategy into successful projects.
Younger, J., & Smallwood, W. N. (2016). Agile talent: How to source and manage outside experts.