Marketing Plan - Term Paper Example

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Marketing Plan Executive Summary A marketing plan is one of the important elements of a business plan. A significant marketing plan includes several strategic action plans. A successful marketing strategy is the important support of a marketing plan (Kerin, Hartley and Rudelius 23)…
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Download file to see previous pages The organization has selected Stockholm as their business operation area. Stockholm is one of the leading historical area enrich with numerous business hubs and colleges. The city is famous for its emerging wine and food market. Most significantly several popular restaurants and wine bar are operating within this competitive and potential market place. Seeing these favorable factors, the organization is trying to establish their business in Stockholm. Moreover, several favorable aspects like high disposable income of people, favorable social tradition, economic development, political stability, availability of advanced technology and resources have encouraged the organization to enter in the business field. The organization is trying to achieve competitive advantages through effective product differentiation strategy and sustainable business operation. The aim of the study is to reveal the potential business opportunities for the particular business venture. The marketing plan includes situation analysis, business objectives and goals, target market analysis, a marketing mix frame work. The strategic plans have implemented in this study to achieve the business objectives. Finally, the study will locate implementation and control of the stated objectives. Situation Analysis An internal situation analysis has been provided in this study. SWOT Analysis This strategic analytical tool will determine Finch Wine Bar’s internal strengths, weaknesses and external opportunities, threats. A summarized table of SWOT analysis has been provided in the appendix part. Strengths The business operation place is the most crowded place in the country. Skilled management team and differentiated product range will help the organization to create a potential customer base. Availability of several international and domestic wines will increase the core competency of the wine bar. Effective customer service and closed-line product and service technology will bring efficiency in the business process. Significant waste management system and water recycle facility are the most significant strengths of this organization. It will help to increase the brand reputation of the organization. Weaknesses Lack of brand awareness in the mind of the customers is one of the greatest weaknesses of the organization. Lack of sufficient resources at initial stage of business operation will limit the organization to achieve significant business output. Lack of effective relationship with distributors and suppliers can affect the supply chain management process of the organization. Opportunities The Swedish market is potential for wine bar business. Recently Sweden has joined WTO that will increase the business activities. Festive seasons and favorable location will help the organization to more number of customers. High disposable income of people and technological development of the nation will encourage the organization to undertake aggressive business strategy. Threats The Swedish wine bar market is highly competitive due to presence of several potential Organizations. Several political threats including licensing problem can affect the business Process of Finch wine bar in near future. Recent economic recession and European financial crisis has affected restricted the buying decision of middle class people. Now-a-days, the tendency of Swedish people is changing towards the healthy drinks and green tea consumption. Focus and Goal Settings Business ...Download file to see next pagesRead More
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