Two Year operating plan has been devised. Since technology is growing at a rapid pace any marketing plan longer than 2 years will be deemed obsolete hence the newer marketing plan is drawn keeping this factor in mind. Most of the budget will be allocated towards the mass advertising and making the employee being more in line with the newer ideologies (Hollensen, 2015).
Lack of resources is the number one barrier in implementation. Apart from this the company needs to factor in the legislations and political ideologies of the people because it has been suggested that they should consider the Asia-Pacific markets. They need to address the legislation and also tackle the issue of protectionism existing in the nation.
First of all the company should form liaisons with better alliances with the supplier and distributers to form a wholesome plan. They should focus on developing more brand awareness previous results have shown that the company fosters on developing a strong online presence. The brand awareness must thus be a mixture of the online presence, CSR activities of the company and collaborating with the influences of the markets. The strategy should be helpful to the communities and also help sell products (Westwood, 2013). This mixture of activities will ensure more brand awareness of the product and also increase sales of the brand. In this process all the stakeholders involved will be benefitted.
The metrics that the company can use to assess their performance are a mixture of tangible and intangibles. For this three metrics have been identified for the brand.
The tangible sales figures of the brand are an important element that shows the progress of the brand in the communities. Company reports, financial income statement, cash flow of the company can be factored in while understanding about the tangible sales figures.
The marketing plan proposed for the company for the next two years is 450 million dollars. This is factoring in all the miscellaneous costs and emergency expenditure to increase sale so the product. This will also allow the company to understand about the customer acquisition costs. It has been previously stated that the customer acquisition cost of the company should be reduced by 5%. The company subsequent to this can reduce the TC ads and focus on social media apps to reduce costs.
Many companies use customer feedback information to understand about the situation. This is used as a reliable metrics. This is a qualitative analysis based on the information gathered from the customers and form the marketing impacts feedback the company can develop its KPI.
For each phase of the marketing plan, there are a number of possible scenarios that can go wrong. There should be alternative plans for each kinds of marketing aspect. The company to enhance the presence in the local communities should factor in all these information and develop a contingency plan based on the situations.
In the case of social media and mass marketing the impact of the advertisements is not known in these cases, alternative marketing theories should be proposed to address these issues.
From analysis of the literature and from research observations the following marketing plan and action plan has been devised. It should be understood that these plans are for the current situation. Based on the dynamic nature of the markets there can be a number of other plans that should be developed.