CHAPTER 11 DEVELOPING THE MARKETING PLAN Chapter 11 Overview New Company Marketing Issues The Marketing Plan Understanding the Customer Understanding the Product or Service Understanding Pricing Building Relationships and Repeat Sales Through Promotion Tracking Customers
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The purpose of the marketing plan is to create awareness for ABC Corporation, which will sell innovative, portable power equipment at the highest quality and the lowest possible cost by positioning itself as the leader by providing reliable, dual power source products that reduce the number of pieces of equipment the user must own. The target market is the construction industry, and, more specifically, those who use power tools in areas where no source of power is available. The niche ABC will enter is that of construction companies that own or lease power equipment. Initial marketing tactics will include direct sales to equipment rental outlets, advertisements in trade publications, and trade shows. ABC’s customers will see the company as service-oriented with a quick response to customer needs in both service and product design. Twelve percent of sales will be applied to the marketing strategy.
»When did the customer last make a purchase?
»How often does the customer purchase?
»How much do they spend on average per purchase?
»How much have they spent over the last