Market plan Essay Example | Topics and Well Written Essays - 1250 words

Market plan - Essay Example Thus, all in all, the Masafi Group has come up with a winner in the shape of the Masafi Natural Mineral Water. The Masafi Water Company is now trying to launch ABC aftershave company, for which they need to perform a step by step marketing plan, since it would assist them in knowing the need of this product, and assess it with respect to the environment in which the industry is thriving at this point in time. (Kerin, 2004) A market plan is basically an outline of the various environmental factors as well as the marketing dynamics that will be associated with the product, which is yet to be launched. (Larsen, 1997) It helps the organization to get an aerial view of the viability of the product idea that they have, with respect to the company itself, the target customers, the competitors present, the collaborators and the climate. The SWOT analysis also plays a vital role in telling the company about its strengths, weaknesses, opportunities and threats. The market plan becomes further refined when portions for market segmentation, alternative marketing strategies and selected marketing strategy are added. (Luther, 2001) The Masafi group now plans to launch an aftershave company. Aftershaves are a health and beauty product and come under the sub-category of fragrances and perfumes. The aftershave market is quite saturated with many big perfume brands doing brand extensions into aftershaves, using their known and established brand names. Whether or not Masafi water should plan to invest their time, resources and energy in launching an aftershave company would be better decided if a marketing plan is made, and critically analyzed. (Stapleton, 1998) The marketing plan would consist of the following components: The SWOT analysis involves the analysis of the internal strengths and weaknesses of the company as well as the external opportunities and threats that the company is