Sources: Pride, W.M., Elliott, G., Rundle-Thiele, S., Waller, D., Paladino, A. & Ferrell, O.C. (2007). Marketing: core concepts and applications (2nd asia-pacific edition). Milton, Qld: John Wiley & Sons Australia, Ltd, pp. 475 – 489.
Marketing plans typically follow a generic structure but differ in length and complexity. An annual plan for a well-established, successful product in which it is ‘business as usual’ may require only a summarised and updated situation analysis and a brief description of the marketing activities to be undertaken over the coming year.
On the other hand, a marketing plan for a major new-product launch or a major change in marketing strategy such as entry into a new market — including an international market — or a new marketing channel typically requires considerably more detailed analysis, especially when senior management is yet to take the decision on the strategic initiative. The following marketing plan is for Swords Wines' launch into an international market, Shanghai in China, and is thus relatively detailed in its analysis and action plans. In practice, marketing plans should be kept as brief as possible while incorporating all the necessary analysis upon which the planning detail is based. With increasing experience and familiarity, successive marketing plans could be reduced in size by focusing on essential data and analysis.
It is also worth emphasising that the marketing plan should be seen as a working document with an ongoing life and importance. It should provide structure and discipline to marketing activities. It should be a practical communication document that can be consulted and referred to throughout the year. It should be revisited and revised, when necessary; and should form the basis of the continuing marketing program. Finally, it should be seen as a means to an end and not an end in itself. Most importantly, the time and effort involved in its preparation should be justified in the quality of the marketing program it documents.
Marketing plan: Swords Wines Pty Ltd
This export marketing plan examines the launch of Swords Wines into Shanghai's imported wine market. Swords is a Melbourne-based SME with the ability to purchase, store, bottle and label Australian wines. Encouraging trends have been identified through primary and secondary research in Shanghai's imported wine market segment. Since 2001, Shanghai's demand for Australian wine has increased on average by 50 per cent each year. Other economic indicators such as GDP are increasing (by an average of 10 per cent per year), and Shanghai has China's highest level of personal disposable income. It is, therefore, an opportunity for Swords to capitalise on these favourable trends by entering the Shanghai wine market in the Luwan district, targeting the Xintiandi district, in particular, due to its significant number of restaurants and bars. It is predicted that achieving success in this market will ascribe status to the Swords brand and allow for easier penetration of other Shanghai markets.
Swords' conservative target is to capture 0.5 per cent of the forecasted increase in demand for Australian wine. It is estimated demand for Swords' wine will be about 10 000 bottles in its launch year, to grow at the rate of increasing demand for Australian wine (currently 50 per cent per annum). It is recommended that Swords pursues a distributorship agreement, whereby opportunity will determine the distributor; however, particular distributors such as Montrose Food and Wines, ACS Fine Wines or Quarto are best suited for individual reasons. Swords' initial product — chosen through market research — is a 750 mL, corked bottle of dry red wine, to be positioned in what is known as the high end of the new world segment. A two-pronged approach is recommended for promotion, targeted (1) at the distributor primarily by way of promotional kits, and...