marketing part 2

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HSC Business Studies

 

Assessment Task:  Marketing Topic

 

  

Develop a marketing plan

 

 

 

 

 

Due: Wednesday 9th March

 

 

 

 

  

Rebecca Whittaker

Contents:

Executive Summary………………………………….……………3

Situational Analysis………………………………………………4          Strengths……………………………………………4                          Weaknesses………………………………………...4                          Opportunities………………………………………5                           Threats……………………………………………..6

Product Life Cycle…………………………………………..……7          Introduction………………………………………..7                           Growth……………………………………………..8                           Maturity……………………………………………8                                   Post-maturity……………………………….………8

Marketing Objectives………………………………………….……9

Target Market……………………………………………...………10

Specific Marketing Strategies ……………...……………………...11          Product……………………………………….…….11                        Price………………………………………….…….11                        Promotion…………………………………….……12                         Place………………………………………….……12

Implementing, Monitoring and Controlling the Marketing Plan…………………………………………………………..……..14                Financial forecasts………………………………..14                      Implementing……………………………….…….14                     Monitoring and Controlling………………….…...14

 

 

 

Executive Summary:

This marketing plan is identifying the process to make the proposed Honey and Nut ice cream by Whittakers’ health foods a reality.  Whittaker’s Health foods has recognised the opportunity to enter the rapidly growing ice cream market.  Whittakers’ health foods have been established for 10 years and have been the leader in health food products for five years and entering the ice cream market will increase Whittaker’s market share considerably.  Whittaker’s stability means that this venture will be low risk.  Whittakers’ sees that this will be a great step forward for the company.

 

 

 

 

 

 

 

 

 

 

 

 

 

 Situational analysis:

Strengths:

Whittakers’ health foods have now been the leaders in health food products for over 5 years.  Whittakers’ realising the high demand for a healthy ice cream product is able to provide for this demand as the company is stable and strong. Whittakers’ also has a variety of stable assets.  This is a strength of the business and the product as it has security.

            Australia has a strong ice cream market, being second to America in total consumption and third to America and New Zealand in per capita consumption, consuming approximately 18L per capita per annum.  Whittakers’, entering a strong and booming market, with a 3% increase in total sales in the past year, gives a certain level of assurance to the success of the Honey and Nut ice cream range, making it a strength.

            Ice cream consumption is also becoming less seasonal, as the product is now serving as a snack throughout the year, sales are then likely to be stable rather than rising and falling through out the year.  Growth in ice cream sales may also be attributed to rising levels of disposable incomes, allowing consumers to but non-essential foods frequently.  Stability in sales is sales is a strength of the product as it has consistency.

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            Whittakers’ Honey and Nut ice cream range is a unique product on the market.  This allows for Whittakers’ to penetrate the market and receive a significant share of the ice cream market as there is no other like it.

            Whittakers’ is now a known and trusted brand name within the total consumer market.  This will be a strength of the product as it will immediately be recognised by the consumer and Whittakers’ existing customers are likely to buy the ice cream.

Weaknesses:

            Ice cream is a highly perishable product on many different levels.  First of all the ...

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