Marketing plan for a new business

Topics: Marketing, Strategic management, Marketing plan Pages: 35 (2463 words) Published: September 7, 2014
ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY
IN COLLABORATION WITH
STAFFORDSHIRE UNIVERSITY UK

BA (Hons) in Business Management/
BA (Hons) in International Business Management

Individual Assignment

BLB10151-2 Marketing in Practice

Prepared By
Nithya Lakpriya CB004822
IF13A1IBM

Date of Submission
30th May 2014

Instructor
Ms. Nilusha Gallage

Submitted in partial fulfillment for the degree of
Bachelor of Arts (Hons) in International Business Management

Word Count: 2107

MARKING CRITERIA
MARKS % OBTAINED
Situational Analysis
/ 25
Marketing Objectives
/ 05
Marketing Strategy
/ 15
Marketing Mix
/ 35
Implementation & Control
/ 10
Creativity, Report Writing, Research & Referencing
/ 10
TOTAL (100%)

Acknowledgements
I take this opportunity to express my gratitude to the people who have been helping me to make this assignment a success. Mostly I’m grateful to Ms. Nilusha Gallage for her support and guidance to complete this assignment. I can’t say thank you enough for your tremendous support and help. I thank Mr. Kaluarachchi for his guidance given in how to use MS Project which helped in creating the Gantt chart. I also thank my friends and family who helped me throughout this assignment.

Table of contents

List of tables and figures
Tables
Table 1.1 – Feasibility study………………………………………………………………………..9, 10 Table 3.1 – Segmentation………………………………………………………………………...……11 Table 3.2 – Targeting………………………………………………………………………………….12 Table 4.1 – Offering ………………………………………………………………………………..…16 Table 4.2 – Estimating cost……………………………………………………………………………20 Table 4.3 – Selecting the pricing strategy……………………………………………………………..20 Table 4.4 – Setting the final price……………………………………………………………………..21 Table 4.5 – Promotional price tactics……………………………………………………………….....21 Table 4.6 – Design the message…………………………………………………………………….…24 Table 4.7 – Select communication channels……………………………………………………….….24 Table 4.8 – Establish marketing budget………………………………………………………….……25 Table 4.9 – Decide on the promotional mix…………………………………………………………...26 Table 4.10 – People…………………………………………………………………………………....29 Table 5.1 – Final budget…………………………………………………………………………........33 Table 5.2 – Control mechanisms………………………………………………………………...…….34

Figures
Figure 1.1 – Current market………………………………………………………………………….…6 Figure 3.1 – Perpetual mapping……………………………………………………………………….13 Figure 3.2 – Ansoff’s Growth Matrix…………………………………………………………………14 Figure 3.3 – Porter’s Generic Strategies………………………………………………………………15 Figure 4.1 – Product levels……………………………………………………………………………17 Figure 4.2 – Pricing Process…………………………………………………………………………..19 Figure 4.3 – Marketing communication Process……………………………………………………...23 Figure 4.3 – Facebook advertisement ………………………………………………………………...27 Figure 4.5 – Web banner………………………………………………………………………………28 Figure 4.6 – Flyer……………………………………………………………………………………...28 Figure 4.7 – Process…………………………………………………………………………………...29 Figure 4.8 – Physical evidence (Food truck)………………………………………………………….30 Figure 4.9 – Physical evidence (facebook page)………………………………………………………30 Figure 5.1 – Implementation Process………………………………………………………………….31 Figure 5.2 – Gantt chart……………………………………………………………………………….32

1.0 Situational Analysis
1.1 Business Opportunity
‘Wrap it up’ is a street food truck which only specializes in sandwich wraps which is basically a type of sandwich made with a soft Arabic flatbread rolled along a filling. 1.1.1 Current market
The working population; which is 45.9% of the total population in Colombo (Department of Census and statistics, 2013) and university students in Colombo prefer on-the-go dining rather than in-house dining since they have busy lifestyles. These categories of people seek food on the way home which is fast and tasty. 1.1.2 Business idea

‘Wrap it up’ is a street food truck which serves food wraps which contains vegetarian and non-vegetarian fillings of Arabic, American, Mexican and Chinese cuisines. Food...

References: Capon, C. (2008) Understanding Strategic Management. 1st Edition. London: Pearson Education Limited.
CBSL (2013). Annual Report 2013. Colombo: CBSL.
DailyFT (2013). Kottuville on wheels: Sri Lanka’s first food truck [online]. Available at: http://www.ft.lk/ [Accessed 22nd April 2014].
Department of Census and Statistics ministryof Finance and Planning (2013). Quarterly report of the Sri Lanka labour force survey [online]. Available at: http://www.statistics.gov.lk/ [Accessed 30th March 2014].
Fahy, J & Jobber, D. (2012) Foundations of Marketing. 4th Edition. New Delhi: Tata McGraw Hill Education Private Limited.
Kotler, P. & Armstrong, G. (2006) Principles of Marketing. 11th Edition. New Delhi: Prentice-Hall of India Private Limited.
Kotler, P & Keller, K. (2006) Marketing Management. 12th Edition. New Delhi: Pearson Education.
McDonald, M. (2000) Marketing plan: How to prepare them, How to use them. 4th Edition. Delhi: Rajkamal Electric Press.
Student Sri Lanka (2014). Facebook usage in Sri Lanka and safety tips [online]. Available at: http://studentlanka.com/ [Accessed 15th April 2014].
Trading Economics (2014). Sri Lanka inflation rate [online]. Available at: http://www.tradingeconomics.com/ [Accessed 2nd May 2014].
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