Marketing Plan For Sustainable Market †MyAssignmenthelp.com

Question: Discuss about the Marketing Plan For Sustainable Market. Answer: Introduction to the current situation Environmental depletion due to the activities undertaken by the people is a major threat to the world and the species at large. In order to make use of the sustainable resources and reduce the rate of pollution and the disposition of the wastes in the open environment, many steps are being enumerated. The consistent development that is noted in Australia based on the caffeine propensity or the peoples likeness to coffee is posing a serious contamination threat to the world due to the usage of the disposable cups. Non-Disposable coffee cups are supposedly made of paper, but according to the latest research it has been found that the cups contains traits of plastic which does not decompose thereby polluting the soil leading to contamination (Crocker 2017). According to certain stats, the single-use coffee cups accounts for a large amount of unnecessary wastes in the environment resulting to the pollution. The problem is due to the usage of the polyethylene which helps in making the cups waterproof. Polyethylene being non-biodegradable contaminates the soil and results to the issues of environmental degradation. The market for the disposable cups has grown in the recent years with respect to the rise in demand of the consumers and with the growing awareness of the environmental degradation, that is taking place invariably (Johnstone and Hooper 2016). Moreover, the basic advantages that the KeepCup or the re-usable cups offer outnumber the non-biodegradable cups (based on the report being provided in the Assignment 2). Objectives The objectives determine the growth and expansion of a product or service of an organization. In order to understand the requirements of the consumers and adhere to the tastes and preferences the company must formulate and keep a track of the objectives that help them in the end (Miles et al. 2016). The financial,marketing and the stakeholders objective of the KeepCup is being discussed in the section that follows. It helps in the better understanding of the situation business concern. Financial objective The transition from the usage of the non-biodegradable cups to the biodegradable KeepCup determines the market availability of the company and the revenue that is created in the process. The employment opportunities that the company created portray the growth of the company with respect to the return on the investment and their market availability. The very essence off the companys success is their motto of a litter free environmental structure, which is considered a noble cause for the transition (Armstrong et al. 2015). The simple idea made the change for not only the company but also helps in maintaining the responsibility of the company towards the environment. The involvement of the company in the social welfare with the schemes of discounts and the processes undertaken by the company helped in the growth of the organization. The company is now supplying its products to some thirty-three countries, which denote the expansion and is directly proportional to the financial stabilit y of the organization. Marketing objective The sustainable approach of the organization plays an important role, as there are competitors in the market with the same kind of product. Therefore, the concerned company must formulate certainmarketing strategies that would help them in sustaining their product in the market (Armstrong et al. 2015). The company can undertake surveys and clearly identify the changing requirements of the consumers and bring about the modifications accordingly. The company can also formulate certain discount schemes that might attract their customers. Recently the company has declared some discount schemes on the coffee for those carrying their product and it helped in attracting the consumers more effectively than its competitors. The company must also monitor over the quality of the product. At times, in order to increase the quantity of the product being manufactured the quality of the product is compromised. Stakeholders objective The company has a concern for the stakeholders and therefore it formulated the stakeholders objective in order to best serve the environmental needs. The company is focused on diminishing the rate of waste from the environment thus providing a cleaner environment by the production of the take-away cups (Dragon 2017). It simply took away the cause of the usage of the non-biodegradable paper cups that diminishes the rate of litter from the environment. Target market The products manufactured by the company are targeted to the universities in the nation. The students and those in the learning profession is the major source of the companys revenue as the product is essentially targeted to the same. There are other exceptions too, where the local people and the commoners can also opt for the product that is manufactured by the company. The market that the company has targeted is because of the fact that the students and the present generation are aware of the requirements of the transition, which is actually a necessity in order to make the environmental changes (Armstrong et al. 2015). Moreover, the students community is the largest user of the coffee cups from the cafeteria adjoining their campus. Therefore, by targeting the students the company hopes in achieving their common goal of promoting their product. The other consumers that the company target are mainly the common people and therefore the company has formulated an affordable price for their product through which every consumer can buy the product. Marketing strategies Every company formulates a marketing strategy in order to make a difference in the market and to undermine the effects of the comp[editors in the market. The concerned company y for this report has certain marketing strategies that help the organization in the sustainability process of the company in the end. The marketing strategies are being discussed in the section that follows, which helps in the better understanding of the market situation of the company and its products. Positioning Positioning of the product is an important step in the marketing process as it helps in the market availability based on the requirements and the demands of the target consumers. Moreover, it helps the company in determining the competencies that the product is going to face in the market and the turnover depending on the market availability of the product. The channels of communication that is chosen by the company to make the consumers aware of the existence of their product in the market is also an important phenomenon that gets included in the process of product positioning (Martin and Woodside 2017). The concerned company for this report have taken several surveys of the market in order to determine the core competencies that the product might face. It helped them in determining the objectives of the firm and in formulating the long-term objectives. Moreover, the advertising and distribution channels that they chose helped them in connecting with the target consumers, which helped them in positioning their product effectively in the market scenario. Product offering A product offering is the integral part of the marketing strategy undertaken by every company in order to make the product more evident in a competitive market. It may be a special offer that the company formulates in order to attract more customers or the services and the assistance that the consumer expects from the company. The concerned company for this report enjoys the confidence of the consumers and the target market at large and thereby successfully retains the brand loyalty (Copulsky, Richardson and Simone 2017). Moreover, the commodity manufactured by the company being a consumer good gets easily churned in the market- though it might face a stiff competition in the later years of its growth, but the brand loyalty helps in overcoming the obstacles of the competitive market. The Sustainable Competitive Advantage (CSA) of the company is strong enough to outnumber the interventions of the competitors due to the attractive offers that the company provides with and the brand loy alty it enjoys. Pricing The pricing strategy undertaken by the company in order to promote their product is formulated with the view of reaching out the product to the consumers. The company undertakes the penetration pricing strategy in which initially the company sets the price of a commodity lower than the competitors do in order to gain more consumers for the brand. Eventually as the consumers switch to the particular brand and the brand loyalty is established, the company marks the commodity with a comparatively higher price (Camman et al. 2017). The company while introducing a new commodity ion the market undertakes this kind of strategy. The company in its initial stages marked the commodity with a relatively lower price and provided the consumers with attractive offers that help in the retention rate of the target consumers. The increase in demand of the commodity and the diminishing cost of production, that goes hand in hand, provides the company with its return on the investment they have undertaken in the initial stages. Placement (distribution of the product) Distribution of the product that has been manufactured by the organization is an important aspect of marketing where the concerned company undertakes the distribution of the goods and services and monitors the proper market availability of the product. Market availability is an important criterion that helps in maintaining the brand loyalty and is therefore helpful in sustaining the product life cycle (Hansson and Mattsson 2017). Inconsistency or irregular flow of the product in the market might result to a loss of the brand loyalty, which is again an important factor that makes the competitors gain over the product. The channel through which the distribution is taken place is also an important factor affecting the availability of the product in the market. The relevancy of the channels and the cost effectiveness is determined by the correct choice of the channels. Marketing communications In order to excel in the marketing strategy a company must make use of the integrated marketing communications (IMC), which links the activities posthumously and sets an objective to fulfil the requirements of the company in regards to the strategy that the company undertakes (Kitchen and Burgmann 2015). The integration process helps in linking the consumers with the company through the various channels thereby helping the company in understanding the changing needs and requirements of the consumers and designing the product in accordance to the requirements. The feedback given by the consumers is an important aspect that helps in the gradual development of the product and makes way for the improvements in the production and supply of the commodity (Kanagal 2016). The concerned company undertakes the IMC in order to make the consumers aware of the importance of the usage of the cups that they are manufacturing and the environmental impacts that result to the degradation by the usage of the non- biodegradable cups. The effective communication that the company undertakes persuades the clients worldwide of the importance of the usage of the cups and the transition from the use and throws cups. Marketing implementation The last step of the strategy planning is the implementation of the strategy in the present market, which invariably denotes the effectiveness of the marketing plan. The growth of the company depends on the effectiveness of the marketing strategy and its successful implementation. The implementation of the strategy will be based on the activities on the activity and the type of the marketing that the company is undertaking. The marketing strategy is being implemented in the company since the inception of the business based on the requirements of the organization and the question of the profitability of the business idea (Camman et al. 2017). To be truthful to the business theory, a business survives on the return of investments, however the company is based on the objective of providing service but also with an aim of earning profit which helps in the sustenance of the organization. Budget KeepCup (in Australian Dollars) Budget Amount Actual Amount Difference Revenue 26000 24000 2000 Cost of Production 10000 12000 2000 Cost of Distribution 7000 4000 3000 Marketing Costs 5000 4500 500 Profit 4000 3500 500 Evaluation and control The importance of the marketing plan is based on the situation of the organization and the common goal that is required to be achieved. The proper monitoring of the important steps in the marketing of the product is an important aspect. The company is therefore required to formulate a plan for the proper monitoring of the implemented marketing strategies (Wheelen and Hunger 2017). The concerned company for this report judges the financial and the marketing implementations and considers the stakeholders point of view in order to understand the situation of the company. Evaluating the steps and the further modifications that are required in order to make the organization retain its brand name is an important task that must be undertaken by the administrative team. Therefore, the processes that are enumerated must be considered an d revised and the objectives of the company that are based on the environmental friendly norms must be adopted in order to undermine the effects of the competitors in the market. References Dragon, N., 2017. Green healthcare: Our environmental warriors.Australian Nursing and Midwifery Journal,25(1), p.18. Crocker, R., 2017.Somebody Elses Problem: Consumerism, Sustainability and Design. Routledge. Johnstone, M.L. and Hooper, S., 2016. Social influence and green consumption behaviour: a need for greater government involvement.Journal of Marketing Management,32(9-10), pp.827-855. Miles, M.P., Lewis, G.K., Hall-Phillips, A., Morrish, S.C., Gilmore, A. and Kasouf, C.J., 2016. The influence of entrepreneurial marketing processes and entrepreneurial self-efficacy on community vulnerability, risk, and resilience.Journal of Strategic Marketing,24(1), pp.34-46. Copulsky, J., Richardson, S. and Simone, M., 2017. Marketing technologies, customer data and analytics: Enabling responsive customer journeys and scalable marketing processes.Applied Marketing Analytics,3(2), pp.102-111. Martin, D. and Woodside, A., 2017. Learning consumer behavior using marketing anthropology methods. Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction. Pearson Education. Kitchen, P.J. and Burgmann, I., 2015. Integrated marketing communication: Making it work at a strategic level.Journal of Business Strategy,36(4), pp.34-39. Kanagal, N.B., 2016. Issues in Marketing Strategy Implementation.International Business Research,9(11), p.16. Hansson, I. and Mattsson, L., 2017. Product placement: A study of audience perception on brand recognition and congruence. Wheelen, T.L. and Hunger, J.D., 2017.Strategic management and business policy. pearson. Camman, C., Fiore, C., Livolsi, L. and Querro, P., 2017. Managing Performance: Objectives and Managers' Needs.Supply Chain Management and Business Performance: The VASC Model, pp.1-97.