Marketing mix plan Essay
Marketing mix plan
1. 1. Price Considering the targeted market, pricing is not the core issue of concern in this particular marketing program. Consumers of Qatar are more likely to be quality sensitive rather than price sensitive. 1. 2. Product Product quality should be the main concern of development due to the market that Brookstone are aiming for. With the booming economic condition, consumers would have a high range of alternative products in the market and therefore, Brookstone must deliver a set of product offering that cannot be matched by competitors.
Using its image in the previous markets, the company should have little problems winning the preferences of the new customers. 1. 3. Place Qatar and the western people have long history of economic relationship. Brookstone have various alternatives of supply chain strategy to develop a presence in Qatar. Having a local partner that provides insights fro Brookstone managers is the preferred strategy considering the cultural gap. 1. 4. Promotion Full media advertisements like television, newspapers and magazines are the preferred method of creating a presence in Qatar markets.
Nevertheless, extensive preliminary researches must be performed and local promotional partners must be consulted to prevent bias in advertisement meanings that has often caused promotional disasters for many foreign investors in the past. 2. Financial Analysis In addition to the explanation of definition of marketing mix, Books Galore will have following objectives: ? Sales of $171,664,792 within 3 year of operation ? Maintain net profit margin of 9-10. 9% or equals to $17,811,719 in 3-year period
? Reaches 30-40% of sales from online stores Table 1 1-year Financial Plan Table 2 3-year Financial Plan 3. Conclusion and Recommendation E-business, which stands for electronic business, continues becoming attractive services t due to the simplicity and effectiveness of customer-buying processes. Concerning the e-business issue, this paper develops a business plan for Brookstone, a nationwide specialty retailer that sells a variety of consumer products with distinctive function, excellent quality and design.
The business plan for Brookstone includes several elements that the company must take into account including mission and vision statement, internal and external environment analysis and financial plan to examine whether the set up of e-business provide reasonable benefits for Brookstone within a certain period.
Table 3 Plan No. Activities Time Schedule 1 Improvement of e-business department at Brookstone May – July 2009 2 Developing new e-business (websites, systems etc) August – October 2009 3 Commissioning Test November 2009 4 Launching the new services December 2009 Bibliography Answer. (2007). Strategic Planning.
Retrieved April 9, 2009 from http://www. answers. com/topic/strategic-planning Brookstone. (2009). About Us. Retrieved April 8, 2009 from http://www. brookstone. com/service/company_info. asp? company_info_id=233&cmid=ftr_cmpinfo&cm_re=A_Ftr*Co*Brand Kotler Philip and Gary Amstrong. (2006). Principles of Marketing. Prentice Hall Robbins, S. (1987). Organization Theory: Structure, Design, and Applications. Prentice-Hall Shugan, Steven M. (2004). The Impact of Advancing Technology on Marketing and Academic Research. Retrieved April 9, 2009 from http://bear. cba. ufl. edu/centers/MKS/marketing%20science/ed2304. pdf.