Marketing Plan Term Paper Example | Topics and Well Written Essays - 2500 words

selling Plan - Term Paper ExampleSWOT analysis has identified that one-stop location and the huge twee house with a capacity of 600 people make Creations for You a perfect place to celebrate completely kinds of functions. However, lack of aw atomic number 18ness of customers about the new startup and huge initial investments appear to be twain major weaknesses of connection. To compete in a highly competitive market, the company aims to target the merchandise segments done an effective promotional strategy. Both the indoor and outdoor promotional tools exit be used to bring on awareness among the people and integrated marketing communication approach will be used that to recover these be and other fixed and variable costs, company will adopt a captive determine strategy. SWOT Analysis Strengths Company has a huge Victorian home in which 600 individuals smoke be adjusted A client one stop location where all wedding run are available Weaknesses Being a startup company, n o one knows about the company therefore, authoritative marketing efforts need to be put to promote the company Huge initial investments and marketing costs and less profitability Opportunities Changing thinking patterns of people much(prenominal) as considering marriage a spectacular one-day event in life is favorable People are willing to spend more cash on their weddings and ceremonies to maintain their social image The increasing busy routines lead the people to opt for blanket(a) services like this Threats Increasing competition Easy access to wholesalers and vendors facilitate people to organize such functions very easily Increasing prices and costs of products and services can increase the costs of operations of the company Pricing Creations for You aims to offer distinct services to its customers, so that the big days of celebrations may become a beautiful part of their memories. To offer exclusive and excellent services to customers, company needs to establish a bounti fulness image in the market therefore, company is spending huge costs on marketing and promotions. Although fixed costs of the company are not very high however, variable costs will be significantly high. To achieve the marketing objectives of the company, Product-line set strategy will be used. There are various types of pricing methods in the product-line pricing strategy including captive pricing, bait pricing, pricing line and premium pricing (Pride & Ferrell, 2007). The valuable services of the company will be offered to customers by adopting a captive pricing strategy. Captive pricing strategy is the most suitable strategy for services of the company because the customers will be attracted by keeping the prices of basic services low whereas, the prices of other services will be unploughed high (Pride, Hughes, & Kapoor, 2009). For example, for a specific event the Victorian home will be available at market competitive prices. The customers will get attracted when they will se e the low price of the hall however, the nurture of the other services that will be required to organize the entire event will be kept high for example, other than the hall charges, the per head cost, lightening cost, music system cost, floral mount or stage decoration cost etc will be offered at high prices. Therefore, captive pricing strategy will help the company to attract the customers and it will help the com