Marketing Repositioning

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MarketingRepositioning

MARKETINGPLANNING WORKSHEET FOR:Burrage,Sean___

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FACTOR/ISSUE

MARKETING PLAN

Product Analysis

What are the product features and benefits?

Available for multiple prescriptions, Acuvue brand, comfortable, practical, affordable, and accessible.

Point of difference – How does the Acuvue brand differentiate itself from the competition?

Reduces amount of blue light that goes to the eye, thus reducing the strain of looking at a screen all day. They are great for active life styles and can also be worn for a long period.

Consumer Analysis/Target Market Analysis

Identify the target market(s) – Justify your selection

Office workers, because they look at a screen all day, but must maintain a professional look that glasses with similar effects do not give off. It also targets students who are constantly glued to their computers carrying out research.

What attributes/benefits matter to your target audience?

The contact lenses have many benefits. They provide an all-round vision and the freedom to have a fresh and new look. Acuvue brand contact lenses enable people to see clearly. They move with the eyes hence giving a focused vision wherever one looks. Contact lenses also track any action with sharp, peripheral and direct vision. When wearing them, one cannot get distortions and reflections like in other glasses. They cannot be splashed, hence giving a clearer vision. The lenses don’t steam up when in a warm place.

Contact lenses allow a person to be free since they provide the freedom for movement needed in everyday life. The lenses are less obtrusive and lighter than glasses. They don’t slip off or bounce up. The lenses neither rub against a person’s ears nor pinch noses. When wearing them during active sports, the lenses do not interrupt a person. Once inside, there is no need for worrying about breaking or losing them. The contact lenses also help a person look well as they enhance how you feel and see yourself, as well as how people look at you. Contact lenses give a natural look unlike frames that obscure faces. It allows one to wear the latest and fashionable, no-prescribed glasses. Additionally, the contact lenses do not hinder you from showing off your make up.

Environmental Factors [Discuss only factors that impact your Marketing Plan]

Consumer/Social factors

Attitudes

When marketing a product in a given target market, it involves addressing the member’s attitudes regarding spending money on such products. Attitude can be a challenging as some people may not see the need for spending on what they might consider luxurious.

Social standards

A target market’s social standard is a great determinant of whether the product would be bought or not. People only buy things that they identify with from a market.

Time

These are other social factors affecting marketing plan. Time restricts a lot of people through work, family and social commitments. Having less time means lacking time to shop for services and goods.

Economic factors

Resources

Availability of money determines whether customers can purchase a product.

Media impacts

Most consumers seek for information from the internet. It is therefore important to present a product in a desirable and attractive manner. If the media negatively talks about that particular product then buyers will shift away from it.

Technological factors

Level of technology

A poor technology inhibits a market plan while an advanced technology enhances a marketing plan. Technology enables faster marketing since companies can broadcast their messages and promote their products to a large audience. It allows for global marketing and distribution of goods.

Competitive factors

Unhealthy competitions hinder proper marketing while good competitions contribute to growth of a business and its planning.

Legal/regulatory factors

Tax

Taxation is a legal and regulatory factor affecting business. Tax codes vary from a country to another. Some forms of taxation supports businesses while others restrict them.

Trade policies

Trade policies affect businesses. These policies include tax policies, fiscal policy, monetary policies, property rights policy, and government policy, as well as regulatory policy. The policies can either grow a business or undermine it.

Economic policy

Governments’ economic policies affect marketing plans. Favorable economic policies lead to growth of a business while poor ones restrict business.

Develop the Marketing Plan [Give specific details about your plans to market ___]

Marketing &amp Communication Objectives

Marketing and communication objectives will involve creating awareness about our product and persuade people, convincing them on why they should consider the product.

Marketing Research (identify market research techniques to collect information from your target segment identify the type of information that can be collected from each technique)

The market research techniques used to collect information from target segment would include in-depth-interviews, questionnaires and focused group discussions. The in-depth interviews and focused group discussions provide facial expressions regarding the product. Questionnaires illustrate people’s attitude towards the products.

How will you “position” the contact lens?

Positioning the product will aim at making it unique by making different brands, thereby creating a wide variety for consumers to choose from.

Pricing

Pricing will be 10 dollars per lens. Affordable prices would attract more customers.

Promotion: Advertising

Product promotion and advertising will be done through banners and flyers along the roads next to office workers and at the entrance of college gates.

Sales Promotion

The first month of the sale will have discounts and free eye checkup for everyone. This way, many customers will be thrilled and visit the product store.

Public Relations

Acuvue brand’s objective is to employ innovative ways that would ensure a well-being of the people. It will have free eye care classes and campaigns on the importance of caring for your eyes.

Digital Strategies (Search/Social Media/Mobile)

The digital strategies would include creating social media platforms like Facebook, Twitter and Instagram, where the products would be displayed and their benefits explained.

Executing/Implementing the Marketing Plan

Budget Allocation – detail what is spent for each media type and all other costs (an approximate percentage is adequate)

Posters$ 400

Flyers$ 500

Free Training$800

Evaluation – how will you evaluate the effectiveness of your plan? (identify the success metrics)

Effective business plan would be achieved by setting aside ample time for planning. Everyone would be involved in the planning process. Setting clear goals and objectives after gathering all needed information would also make the plan effective.