Free «Marketing Plan» UK Essay Paper
Table of Contents
Our company, Life’s Thrill seeks to market the products we produce, which in essence means marketing a service, to an international country. Founded in the year 2004, we began small, starting as a kitchen experiment and beginning with serving only one person. After years of trying to figure out how to make massage oil, reading about it and wanting to make a high- quality product comparable to none before it, it just happened one day, unexpectedly. Born and raised in New York, one of the fastest- paced places on earth, I often witness people multi- handling things, always aiming to achieve more even with large amounts of success. Nobody slacks, because that would mean a penalty of some kind; being stuck in traffic, missing food from your favourite fast- food centre, or missing a business appointment which, in this city, is unforgivable. All of this means that the end of one day is the beginning of another and that as soon as one day ends, another begins, with little or no rest received (International marketing; marketing plan, 2013).
Having watched all of this, I could have decided to come up with make- up line consisting of plenty of eye shadow and foundation to cover up the tired expression on women’s faces, and to make the sleeping bags under their eyes disappear, but I wanted something more relaxing, longer- lasting and that had not just physical, but also psychological impacts. Thus, my search for the perfect product began, a task not so difficult considering all I’ve outlined above; the challenge was to come up with a product like none before, one that would literally take you away to some place else, and ensure your experience was worth every bit of your money, and time as well. We did this, and so much more. Therefore, after a considerable amount of success in the United States, we have decided to go international, one country at a time. The paper below outlines our marketing plan, describing in detail our products, the target country, our target market and our promotional, distribution and pricing decisions (International marketing; marketing plan, 2013).
The products and services
As stated in the introduction, our company seeks to market both an original product and a service produced strictly by Life’s Thrill. Our products are massage oils, and our services, overall spa services including but not limited to massage. There are two types of massage oils produced by Life’s Thrill, sense and shine (Kenya economic analysis, 2013). Made from a mixture of olive and rose- petal oil, sense is smooth and heavy, with the deep aroma of the exotic beaches of South America and its islands- sand, sea and nature all combined into one. Sense is bound to make your dreams come alive, its scents taking you to places you could only dream of before and once done, leaves you feeling revitalized, bolder and unequivocally sexier. It is must- have treatment for everyone who works extremely hard in their daily lives as it is one wholesome treatment designed to make all their stress disappear, enabling them to bounce back into work with a renewed vigour (Kenya economic analysis, 2013).
Shine on the other hand, is light, mild and with a happy, flowery scent. Less engrossing than sense, it is designed from a blend of olive oil and chrysanthemum, dahlia and tulip fragrances. It is a quick- fix solution to inauspicious days and feelings of sadness or depression. Its flowery scents and its mild nature give one a feeling of flying, soaring high. It also takes a shorter time thus its treatment can be done in the middle of a work day, before an important appointment, or, as preferred by most of our clients, before ceremonies like weddings, graduation and birthdays. It is also the most preferred treatment for group hang- outs, seeing as its mild nature allows for chit- chatting and catching up. At the end of a shine therapy, one is surely bound to emerge happy, of a lighter spirit, and with a restored zeal for life.
The target country
After a lot of deliberation and consideration, we have settled on Kenya, an African country, East African to be precise. Kenya is truly a wonder land. Its blend of vibrant political, social- cultural and economic activities appealed to us immensely because we wanted to take our products and services to a cheerful, on- the- go nation. We wanted to set up base in a peaceful and democratic country with political stability, and Kenya is well- known and widely recognized for this (Kenya economic analysis, 2013). Politics in Kenya is not just for the politicians, or well, it could be if you include a majority of the population. There is always a lot of democracy and using the right channels, everyone has a chance to have their voice heard through the liberalized media which is never afraid to criticize, commend and comment on everything that concerns the welfare of the country’s citizens. It is this kind of political environment that attracted us to set base there; the knowledge that as foreigners, we will be safe and made to feel at home there was comforting (International marketing; marketing plan, 2013).
Economically, Kenya, like most third- world countries is a struggling nation, with more than fifty percent of the population living under the poverty line. The vicious cycle of poverty bites, but this is also a good thing as it shows just how much potential for growth the country has and the potential the nation holds. We have also done our research, and the large numbers of multi- national companies in the country encouraged us to venture out there. Surely, they can’t all be out there for no reason at all (Kenya economic analysis, 2013). The performance of the Kenyan shilling against the at the same time, giving back to our host country. Charges on investors on the stock market go according to the business size and scope financially, which is fair and encouraging as well. Advertising in Kenya is one economic factor that is quite pricey, understandably so since it is the main avenue through which media houses earn their revenues.
The legal framework in the country is another aspect that appealed to us. The establishment of a new and reformed judiciary under a new chief justice in Kenya has ensured that the past mistakes of the judiciary have been dealt with, with new and highly qualified judges being publicly vetted into office. This means that there is no room for corrupt people in the whole justice system, which works well for us because it simply means that we will have an easier time establishing our business and marketing our products. Business licences can be acquired through local council authorities whose charges are quite fair, although these authorities have the reputation of being ruthless and harassing business people. But, it is business, and that’s how it usually is. Only the tough ones survive.
Having discussed the above, it is the social- cultural environment of Kenya that grabbed our attention from the beginning. A nation composed of fourty two tribes, Kenya is a thriving social- cultural centre, not only because of these tribes, but also because of the large numbers of foreigners from all over the world, most of whom choose to make it their permanent home (Kenya economic analysis, 2013). Thus, with such a heavy blend of people, each unique in their own way, it is no surprise that places of socialization like market places, bars, cafes, hotels, clubs and football stadiums are many, and treasured as well. Public social events like exhibitions and exposes are highly regarded as are all kinds of sporting activities from athletics, football, rugby and basketball. The people of Kenya work hard to beat financial strains every single day, but their happy nature always shines through, and they always joke about whatever problems they go through as can be witnessed on social media like facebook and twitter. They are exceptionally hospitable, and it is no wonder therefore that God chose to bless such a nation of beautiful people with beautiful nature and wildlife (Magical Kenya, 2013).
Kenya is renown world- wide for its game parks and reserves, the Great Rift Valley, Lake Victoria and other lakes, sandy beaches along the coast not to mention the Indian ocean, and unique landscape features like the crying stone (Magical Kenya, 2013). This has resulted in tourism being the highest earner of the country’s revenue with visitors from all over the world going to enjoy mother nature’s surreal blessings.
Limited Time offer!
Get 19% OFF
The target market
After exhaustively analyzing our target country, Kenya, we then came up with a target audience. These are the people to whom we want to sell our products and services. Thus, we began with audience segmentation, dividing the potential customers according to their various demographics, choosing to base on their age, gender and incomes. After that, we analyzed what each group likes, the best products for them, and how to capture their attention. So we came up with advertisements to enable us get the attention of possible customers, and introduce our product into the market (Kenya economic analysis, 2013). After gauging the potential consumers’ reactions to our products, we determined which places would be best to set up our business premises; places where we would attract more people, and set out doing that. Next, we began remodelling our businesses according to the specifications of each group and our services as well.
There is a breed of young, working- class individuals fast emerging in Kenya. These are the people who work hard, and who love the good life. They hang out at the best social joints and go are remarkably patriotic local tourists. These people have attracted many business people with some setting up clubs and others, like us, spas. However, the spa business is fairly new in Kenya, mostly due to the huge amounts of capital required to set up these businesses; hence, the competition we found was not stiff. Also, since most of the spa businesses are located in large cities like Nairobi and Mombasa, we decided to venture out into smaller towns like Nakuru, Eldoret and Kisumu (Magical Kenya, 2013).
Our marketing objectives as we ventured into Kenya were clear and included:
• To analyze annd evaluate the political, social- cultural,, legal as well as economic environment of Kenya and determine how to make work out for us.
• To identify the target market, their tastes and preferences.
• To identify competition in the market, study them and determine how to beat them.
• To come up with effective means of promoting and advertising our products and services.
• To establish our business at areas likely to attract a large number of customers.
Let’s earn with us!
Get 10% from your friends orders!
Promotional, distribution and pricing decisions
After settling in Kenya, we came up with promotional strategies to enable us permeate the market, introduce our products and services, and beat the existing competition. Thus, we set up advertisements and used the local media to advertise on radio, television and the internet. In some of our adverts, we localized the language, using the native Swahili language so as to establish a closer connection with potential customers. We also built billboards and placed them at strategic locations in the towns in which we settled in order to capture the attention of people walking by, motorists and those relaxing in social places. We, as well, made posters and fliers and hired the locals to circulate them in places where they thought the material would be able to attract people. Having done all this, we threw an opening party for our business, inviting the local media to ensure that the event would be well covered, and politicians and celebrities to endorse our products and services. As far as pricing is concerned, we decided to begin with lower prices as compared to those of our competitors, hoping to raise them once we acquired a steady following of loyal customers. The prices in the prominent cities however, were higher as compared to those in small towns because the business was the first of its kind in those towns; thus we needed to convince potential customers to engage in our products and services.
In conclusion, The intention of this paper is to present a study of the prospects for Life’s Thrills’ to enlarge its business internationally and to make an initial bid that Life’s Thrills’ pursue prospects in Kenya. Life’s Thrills’ has been paying attention on its United States marketplace, but prospects exist to break through worldwide markets. These prospects show promise for enhanced proceeds for Life’s Thrills’ based on the industry market prospective. Life’s Thrills’ advanced quality, original products, and varied product lines are the structure for international achievement (Magical Kenya, 2013). This is put up on the product and company's strong point to take advantage of the growing change of female and male outlook to using Life’s Thrills’ products. A joint undertaking would be the most excellent form of entry for Life’s Thrills’ in Kenya and would result in a lucrative venture.
Life’s Thrills’ international marketing plan begins as an idea after observing the busy lives of people in one of the world’s biggest and busiest cities, New York. A plan is then formed after a gap in the market is identified, the existence of sparse and few spa services in the country. After this, a business is set up. It grows, and we decide to take it international. Thus, a country is identified, Kenya, and then the work and fun, begins. We analyze the social- cultural, legal, political and economic frameworks of the country and find them suitable, follow through with our objectives, and end up establishing a thriving business in the country with bases in all the main cities and towns (Kenya economic analysis, 2013). An international marketing plan, therefore, is a blueprint used by businesses to determine what entails starting a business or a marketing plan in another country; keeping in mind every possible consideration, from the target country, to the target audience, the marketing techniques to be used and finally, the extraneous factors that determine whether a business will thrive or not. A marketing plan should therefore be included in every business’ plan if the business is to succeed; be it a local or an international business.
We believe that Life’s Thrills’ should pursue launching a far-off sales division, and make its international entrance into Kenya. Further research should be done previous to making the first venture. We would propose starting with other market research done in Kenya while concurrently seeking probable investors. These investors must be competent to offer the links needed for Life’s Thrills’ to turn into a leading entrant in the industry. Once Life’s Thrills’ has established itself in Kenya, it must continue its search to penetrate other international markets (Kenya economic analysis, 2013).
Want to know what your projected final grades might look like?
Check out our easy to use grade calculator! It can help you solve this question.Calculate now