Swot Analysis A Solid Marketing Plan - 916 Words

A solid marketing plan is a very important part in maintaining a functional environment for an organization to stay organized and remain active in their market demand. Marketing management can have its challenges when it comes to promoting products that might not be doing so well. Brand imaging, pricing, advertising, and the sales channels all play a vital role in the product development. Managers utilize these tools to effectively gain market share and lifelong consumers. This is an analysis of Global Imports productivity over the last two years. Brand recognition and strategy was a struggle during the first year. Global Imports purchased market judgment to gauge how well the products were selling, and to see if they were meeting consumer needs. Unfortunately, we had to rebrand the workhorse and innovators product line, as they did not sell very well during the first year. However, as the second year approached we found that in comparison to the other competition that was meeting p roduct needs for workhorse and innovators we could boost sales and revenue. Even though we rebranded, we found that introducing another product would also increase sales and possibly increase sales in other areas as well. As an end result the workhorse and innovators brands actually did become profitable. Whereas, the diverse line cost more money to produce than anticipated. Furthermore, then one thing that hurt the firm in the last stages was the firm did not purchase the market judgment toShow MoreRelatedMarketing Plan Essay795 Words   |  4 PagesHow to Develop a Marketing Plan that Will Add Value to Your Business Studies show that companies with a marketing plan in place are more likely to be successful in their marketing efforts. One study showed that businesses that plan grow 30% faster. According to another study, 71% of fast-growing companies have plans. Those companies create budgets, set sales goals, and document marketing sales strategies. A solid marketing plan will help you generate leads, build awareness with your target audienceRead MoreThe Internal And External Forces That Influence Success927 Words   |  4 PagesSWOT Analysis NPO leaders and boards of directors must understand the internal and external forces that influence success. One standard tool for understanding and positioning the organization for overall improvement is the Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis. (NCU, 2016) According to Weese (2009), a SWOT analysis is an honest evaluation of the strengths, weaknesses, opportunities, and threats inherent in a given situation (Weese, 2009, p. 265). 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MARKET AUDITINGRead MoreCompany Introduction, Market Segmentation Product Positioning1283 Words   |  6 PagesAntonio Sanguinetti Dr. Eva Ananiewicz Strayer University Marketing Management July 21, 2012 This paper will describe the details of a fictitious company and provided its background and will develop a marketing plan with a focus on segmenting and positioning its product and service. Thirdly, this paper will determine and decide upon at least one (1) foreign market for the product and service.; identify the marketing segment for the product and provide a rationale for this segment