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Complete Part C of the Strategic Marketing Plan.
Only include Part C when submitting the assignment. Be sure to remove the instructions and examples.
MKT/574 v1
Strategic Marketing Plan
MKT/574 v1
Page 2 of 2

Strategic Marketing Plan
Gabrielle Zephirin
MKT/574
Professor Tina
3/7/2021

Part A: Environmental Analysis and SWOT Analysis
Company Description
For writing this strategic marketing plan, BPA Sports LLC is selected, a nutritional company located in the United States. Our mission is to deliver superior quality nutritional and body-building supplements to our customers. Our vision is to become the number one nutritional selling supplement brand in the United States by 2025. We offer a variety of supplements related to body-building, fitness, diet, nutrition, and health for our customers. Consumers utilize these supplements or pills for losing weight or reducing obesity, and for enhancing their fitness. BPI Sports was founded in the year 2010 and operates with almost 74 employees (Directory, 2021). Comment by Tina White Potter: APA needs to be followed. Comment by Tina White Potter: Should be:
(D&B Business Directory, 2021).
Environmental Analysis
Competitive Forces
The marketplace or industry of Nutritional supplements is huge and growing instantly at the rate of 7.1 percent, and it is projected that it will reach $61.8 billion by 2025. Just because the industry is growing vastly, there is a high risk of new competitors in BPI Sports’ marketplace. The new entrants in the marketplace can be challenging for the firm as there is a possibility, they can include well-trained fitness programs. The suppliers or vendors in this industry are also growing, so BPI Sports can easily shift to other suppliers. Comment by Tina White Potter: Source?
The bargaining power of the consumer is very low because of customer loyalty and unique fitness programs. Loyalty from a consumer in this industry requires time because individuals are possessive about their health and fitness. According to this market plan, our biggest competitor is FitFlex company; they also provide the same services to the customers. Instead of spending a huge amount of money on research and development processes, we are spending money on our customers to earn their loyalty. This is our competitive advantage over our competitor FitFlex. Our annual revenue in 2019 is $41.82 million, and the estimated market share is 6.5% (Directory, 2021). Comment by Tina White Potter: Follow APA
The threat from substitute products in this industry is very high because all the firms in this marketplace produce similar products.
Economic Forces
The firm is currently facing many economic issues because of the Coronavirus outbreak and lockdown conditions. These conditions have decreased the number of sales, which resulted in a low profit.
Political Forces
Political forces can negatively influence BPI sports because fluctuations in the interest rate and inflation rate increase the manufacturing cost and the cost of goods.
Legal, Regulatory, and Ethical Issues
Legal, regulatory and ethical issues can also impact the firm as Food and Drug Administration (FDA) regulates this nutrition and health industry. They review the procedure of how supplements and vitamins are made in the factory. Any minor o major ethical issue in the production can badly damage the reputation of the company. For saving the firm from these issues, it is necessary to follow all the rules and regulations provided by FDA. Comment by Tina White Potter: spelling
Technological Forces
In the present situation, the company is not facing any technical issues as they have already established advanced production machinery and also provide online fitness programs to the consumers.
Social Forces
This projected that social factors have positively impacted the firm because individuals have become possessive about their fitness due to lockdown conditions. For this purpose, they are early looking for fitness programs and supplements to stabilize their health. Comment by Tina White Potter: wording
Current Target Markets
The target market selected by BPI Sports includes individuals aged 22-43, obese individuals, sportsmen or bodybuilders, and athletes. BPI Sports offers online training to their customers to provide them relaxation.
Review Current Marketing
The current marketing strategy of BPI Sports is to advertise its products and services through social media sites. They promote their services and products on Facebook, Instagram, and Twitter. BPI Sports spends about 20% of its revenue on promotions and marketing.
SWOT Analysis
Strengths
· Provides a huge range of nutritional products
· Holds customer loyalty.
· Provide online programs and delivery.
Weaknesses
· Low brand image and reputation.
· Holds no FDA or food authority certifications.
Opportunities
· Promotion of new products and services.
· Implementation of advanced technology.
· Policies for reducing manufacturing costs.
· Market or product diversification.
Threats
· New entrants.
· Disappointed product assessments
· Unhappy clients.
Strengths to Opportunities & Converting Weaknesses and Threats
BPI Sports should enhance its relationship with customers to increase customer loyalty by offering coupons and discounts. They should follow the rules and regulations provided by Food and Drug Authority to gain their certification. They should target a new target market to increase their marketplace.
Marketing Objectives
BPI Sports LLC’s current market objective is to increase customer loyalty by providing them discounts on services and products. They also aim to introduced new supplements in the market with low cost and improved results. It is estimated that launching new products will increase their return by 10%.

References
Adryan Corcione, (2017). Tips for Creating a Great Business Marketing. Industrial Marketing Management, 86, 90-98.
https://www.businessnewsdaily.com/4-creating-effective-business-marketing-plan.html
.
Directory, D. B. (2021). Bpi Sports, LLC. Retrieved from https://www.dnb.com/business-directory/company-profiles.bpi_sports_llc.274ca90d2bff86a1418e0515649742d1.html
Copyright 2020 by University of Phoenix. All rights reserved.
Copyright 2020 by University of Phoenix. All rights reserved.

MKT/574
Strategic Marketing Plan
MKT/574
Page 2 of 2

Gabrielle Zephirin
Professor Tina
MKT/574
3/21/21

This paper is based on the marketing plan of BPI Sports LLC, which is a nutritional company located in the United States. For their customers, they offer a variety of supplements related to bodybuilding, fitness, diet, nutrition, and health. Consumers utilize these supplements or pills for losing weight or reducing obesity, and for enhancing their fitness. BPI Sports was founded in the year 2010 and operates with almost 74 employees (Business Directory, 2021). BPI Sports LLC’s current market objective is to increase customer loyalty by providing them discounts on services and products. They also aim to introduce new supplements in the market with low cost and improved results.
Internal Data
The following components are included in the internal data of BPA Sports LLC.

Source

What it Measures

Data

Potential Usage

Sales data

Revenues which is generated on a monthly basis.

Several purchases are made by customers monthly.

Helps the company in identifying its weakness and strengths.

Financial data

The expenses occur in products and services.

The difference between the cost of products and services.

This promotes effectiveness in the production department. This also helps in enhancing the proficiency of the budget.

Human resources

A total number of employees recruited or employed quarterly.

The cost spends on training employees. The cost is applied to increasing the level of satisfaction of employees.

Helps company in analyzing organizational culture. Provides flexibility inside the organizational workplace.

Marketing

Brand awareness programs, promotions. Marketing campaigns on a monthly basis.

The cost applied to intruding promotional programs. The cost applied to social media marketing.

Helps the management to decide their best marketing or advertising campaign.

The following components are included in the secondary data of BPA Sports LLC.

Source

What it Measures

Data

Potential Usage

Statistical data

Demographics of loyal and new customers. This includes location, age, and requirements.

Provide company’s an overview of their target market and customers.

Helps company in introducing products according to the needs and wants of the customers.

Sales data analysis

It helps in pricing the products and services.

Provides an overview of the cost of goods that sold in one month.

Supports management in understanding the buying behavior of their customers.

Sales of products as compared to competitors.

Analyze the ratio of competition in the market and provides an overview of the bestselling product.

Monthly product sales of own company and competitors.

Helps in developing strategies for overcoming competition in the market.

The following components are included in the primary data of BPA Sports LLC.

Source

What it Measures

Data

Potential Usage

Focus groups

Customer review on new goods, products, and services.

Qualitative data.

It helps the company in analyzing whether or not their new strategies are working.

In-depth interviews

Customer responses

Qualitative data

Helps in analyzing the views of the customer about your company and products.

Social media monitoring

The reviews of customers on social media and their rating.

Customer’s response and comments.

Helps in focusing on the needs and requirements of customers.

The following components are included in the customer relationship management of BPA Sports LLC.

CRM Touchpoint

Purpose & CRM Objective

Data

Potential Data Usage

Social media profile

Analyzing customer purchase.

Customers email and mobile number.

Helps in attracting new customers.

Email messaging

Attracting new customers through guiding them about new products.

Name, location, gender, and age of new customers.

Helps in enhancing the relationship between new customers.

Survey and online forums

Helps in obtaining personal information of customers, including their desired requirements of products.

Name of customers, location, and email address.

Helps in enhancing customer support system. Reduces expenses which applied to research and development.

References

Directory, D. B. (2021). Bpi Sports, LLC. Retrieved from https://www.dnb.com/business-directory/company-profiles.bpi_sports_llc.274ca90d2bff86a1418e0515649742d1.html
Adryan Corcione, (2017). Tips for Creating a Great Business Marketing. Industrial Marketing Management, 86, 90-98.
https://www.businessnewsdaily.com/4-creating-effective-business-marketing-plan.html
.

Copyright 2020 by University of Phoenix. All rights reserved.
Copyright 2020 by University of Phoenix. All rights reserved.

MKT/574 v1
Strategic Marketing Plan
MKT/574 v1
Page 2 of 2

Strategic Marketing Plan
Part A: Environmental Analysis and SWOT Analysis
(Due in Wk 2)
Company Description

Describe the company you are designing the plan for. Include:
· Mission Statement
· Vision Statement
· Product line description
· Company information, such as the size of the company
Environmental Analysis

Analyze the forces that affect the company and marketing efforts.
Competitive Forces

Analyze the company’s key competitors. You may choose to use a BCG Matrix or attribute checklist to compare your company against its competitors. Describe any strategic moves the competition has recently made. Estimate your market share. Identify key competitive advantages against your competitors.
Economic Forces

Analyze the economic environment in the areas affecting your business. Consider differences within your industry and the economic impact on suppliers.
Political Forces

Analyze relevant political forces. Examples may include an election year or a law to drastically reduce or eliminate plastic waste in your county.
Legal, Regulatory, and Ethical Issues

Analyze the legal, regulatory, and ethical issues that may affect your business. Considerations may include local laws such as a ban on the use of plastic bags, the ability to post billboards, or a possible increased regulation on direct mail.
Technological Forces

Analyze whether your company will be affected by emerging technologies or trends in hardware and software industries
Social Forces

Analyze social trends and how they may affect your business. Considerations may include if your business will be affected by demographic trends, a growing dependence on computers, or whether interest in your product might be affected by growing preferences in the way things are done or changing social values.
Current Target Markets

Define the company’s current target markets. Describe the demographic, geographic, psychographic, and product usage of these targets.
Review Current Marketing

Review the company’s current marketing tactics. Consider how people find out about the product, how they get information about the product or service, what might be involved in the buying process, and what money is available for marketing. If your company is a start-up, describe your competitors’ current marketing.
SWOT Analysis

Assess your company’s strengths, weaknesses, threats, opportunities, and then evaluate how to address these in your marketing plan.
Strengths

Assess your company’s competitive advantage. Consider core competencies, assets, location, practices, etc. that are distinct in the way the organization meets the needs of its customers.
Weaknesses

Assess what limits the company may have in its current marketing strategy. Consider if there is a company weakness that needs to be addressed through Public Relations or Marketing.
Opportunities

Assess the opportunities you see based on trends or environmental conditions.
Threats

Assess the threats or limitations that may interfere with the company’s ability to meet its objectives or interfere with marketing plans.
Strengths to Opportunities & Converting Weaknesses and Threats

Convert weaknesses and threats to strengths, then strengths to opportunities in the marketing plan. Consider the implications for addressing supplier relationships, implementing new technologies, or changing the product line or addressing new markets.
Marketing Objectives

Establish marketing objectives based on the results from the SWOT analysis. Marketing objectives must align with corporate objectives, modified by the company’s resources. Objectives should include a date for the completion of the objective and the way in which success will be measured. For example: The company will expand its marketing efforts to include a new market segment of 21- to 29-year-olds. This will entail the development of a customized product by June 2020 that will address the specific psychographic and technological needs of this age group. This strategy is expected to attain a 20% growth in overall sales by January 2020. Customer loyalty (willingness to recommend the product) will increase by 30%.
Part B: Marketing Data Analysis
(Due in Wk 4)
Internal Data

Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.

Source

What it Measures

Data

Potential Usage

Example: Sales data

Monthly sales by specific product

Average sales that month in US dollars for each of 10 products. Data can be segmented by business and consumer markets.

Can be used for trend analysis, projections, and to measure effectiveness of promotions.

Secondary Data

Evaluate secondary data sources and the specific information you need from each source. Insert or remove rows as needed.

Source

What it Measures

Data

Potential Usage

Example: retail store analytics

Dollar value of sales by quarter by major product categories

Total sales of major players

Market Share Analysis
Seasonal patterns

Primary Data

Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.

Source

What it Measures

Data

Potential Usage

Example: Focus group

Product usage, motives, identify group level satisfaction, decision process, etc.

Qualitative

Identify different reactions of market segments to product. Identify marketing opportunities, product/service flaws and opportunities

Customer Relationship Management

Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.

CRM Touchpoint

Purpose & CRM Objective

Data

Potential Data Usage

Example: Customer profile information on website

Starts the account for visitors: name, geography, email address (Customer acquisition)

Presale: geographic location; customer id, source of reference
Email address
Post sales: address, product purchased, quantity, price.

Track new and returning customer counts, total period purchases by customer ID, geographic sales data. Can be used for loyalty rewards, retention, and targeted marketing.

Part C: Market Strategy, Marketing Channels, Implementation, and Monitoring
(Due in Wk 6)
New Target Markets

Determine any new markets for your strategy and describe how you will provide value to each target market.

Marketing Mix for New Target Markets

Determine adaptions for each new target market.
· Products
· Price
· Distribution
· Traditional Promotion
· Online Promotion
Marketing Implementation

Create the implementation for your marketing plan. Describe how you will organize and implement the plan, such as whether it will be organized by market, geography, and who is responsible for marketing decisions.
Marketing Communication Channels

Evaluate the marketing communication channels you will use to reach selected audiences. Include Internet and traditional communication channels to convey key messages. Describe the advantages and disadvantages of each channel you select. Insert or remove rows as needed.

Channel

Target Market

Advantages

Disadvantages

Example: Direct mail

Middle class residential

Can include coupons

Expense and low return rate for given product

Strategic Actions

Develop specific activities required to implement the marketing plan. Identify the person or role who will be responsible for each action, when it will be complete, and what standard or metric indicate that the activity is complete. Insert or remove rows as needed.

Action

Date for Completion

Person/Role Responsible

Standard/Metric

Example: Design flyer for direct mail campaign

1/1/2021

J. Smith, graphic designer

Approval by senior marketing team and legal

Monitoring

Develop the measurement to identify how you know you have been successful for each strategic action. Specify the measures to track performance against goals. Identify standard reports from your online and traditional marketing efforts. Insert or remove rows as needed.

Action

Target

Person Responsible

Inter-measurement

Example: Direct mail flyer

1100 new inquiries

Western regional manager

500 new inquiries first month of campaign

Copyright 2020 by University of Phoenix. All rights reserved.
Copyright 2020 by University of Phoenix. All rights reserved.

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