Please pay close attention to the instructions and the sample. The sample has really important information. i want it the hypothetical company to be AN EVENT/FESTVAL FOOD VENDOR in NC & SC.
I also need this by 5pm today please.
If you do this you can have the other three.
Assignment 1: Part A: Your Marketing Plan Due Week 4 and worth 200 points
From the start of this course, you have accessed the Interactive Marketing Plan tool and used the step-by-step guide to complete Part A of your marketing plan. You are required to submit a marketing plan for a hypothetical product-based company. Your plan must include the company’s background information, and information collected from Steps 1-4 of the Interactive Marketing Plan, located in the course shell. Note: Some elements may not be covered in the Interactive Marketing Plan and will require additional research.
For information on Website analytics, visit Google Analytics at http://www.google.com/analytics/why/.
Note: You may create and / or make all necessary assumptions needed for the completion of this assignment.
Write a five to six (5-6) page paper in which you: 1. Construct a concise executive summary that provides the details of the outcomes of your marketing plan outcomes. The relevant outcomes include profitability, shareholder returns, and return on investment. 2. Conduct an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces. 3. Specify the primary and secondary target markets for your company. Be sure to cover the 4Ps, 5Cs and STP. 4. Conduct a performance analysis with set benchmarks of 50% to 75% per annualized plan. Your analysis should include at least four (4) of the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement. Develop four (4) quantitative and (4) qualitative marketing objectives from your chosen metrics. 5. Conduct both a SWOT analysis and needs analysis for your product. Each analysis should examine four (4) strengths, weaknesses, opportunities, and threats for your company. 6. Use at least four (4) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length
Endure Heavy Duty Aluminum Doors and Frames
MKT500 Assignment #1
October 17, 2014
Executive Summary Placeholder
Regardless of what the Grading Rubric for Assignments 1 and 2 ask for, one cannot write an Executive Summary until the plan is complete. That being the case, just use the first page of Assignments 1 and 2 as a placeholder for the Executive Summary. Assignment 3 is where you will come back, after you have completed it, and write the Executive Summary. If this placeholder is in your Assignments 1 and 2 , you will receive the points for it. If there is no placeholder, you will receive no points.
If you have the placeholder in Assignments 1 and 2, then on Assignment 3, because there is no Executive Summary required, if you put it in then, I will “give back” no more than 54 points on the other sections in Assignment 3 that you might have been “weak” on.
Endure Heavy Duty Aluminum Doors and Frames is a manufacturer of aluminum doors and frames. These items are supplied for water and wastewater treatment plants, schools, and other locations where corrosion from water or other chemicals is a threat; and where a strong, pre-finished opening is desired. The company was started in 1999, by an employee of another aluminum door manufacturer, after that firm closed. He was able to hire many of the former employees, and bought much of the used fabrication and shipping equipment at auctions. There was a time lag of eight months between the closing of the firm and the opening of Endure. Because of that time lag, he knew that it would take him time before the order pipeline was full, as previous experience was that from the time of order, until approval to fabricate and ship, typically ran six months. He had done a business plan, including pro-forma financial projections. The projections showed the business breaking even after 15 months, with a full order pipeline at 24 months. After the business plan was completed, he started the marketing plan, with the first section being the rest of this document.
In the industries where Endure Heavy Duty Aluminum Doors and Frames compete, there are only three competitors. All three make aluminum doors and frames, the major differences being in the construction of the door, and the hardware preparation that each completes on the doors. Other differences include the packaging of the doors; and the way the doors are shipped. All three competitors only package their doors in cardboard; while Endure Heavy Duty Aluminum Doors and Frames also packages in cardboard; and solid plywood crates for orders of 10 or more doors. Endure Heavy Duty Aluminum Doors and Frames ships all domestic orders F.O.B. Factory, Freight Pre-Paid to Destination. All three competitors ship Freight Collect. This is considered a “big deal” by the customer because it means they do not have to have a certified check or cash waiting for the freight company when the products are delivered. This also means that the contractor does not have to submit an “off-schedule” draw request to the owner.
Economically, the business is somewhat dependent on tax revenues collected, because water and wastewater treatment plants are only built or modernized if there are new subdivisions being built, or a plant is 15 years or older and is being modernized.
Politically, there are no issues. Legally, the only recurring issues are 1) the doors must be tested to meet the South Florida Building Code for Impact Resistance, 2) business license must be renewed every year, and 3) Federal taxes must be filed yearly. Technology has affected mostly paper handling and scheduling of orders. In the production areas, all work is done by hand as it is quicker and more economical than bringing in automated cutting shears and punch presses. Sociocultural factors are that the business is extremely multicultural, with White, African-American, and Hispanic workers in both the office and the production facility.
Primary and Secondary Markets
A market segment is a group of consumers who have a need for the same type of product (Iacobucci, 2014). The market segment consists of the architects and engineers that write the specifications for Division 8 – 08100 Doors and Frames; as well as the general contractors, glazing contractors, and wholesale hardware suppliers that bid and negotiate contracts for doors and frames. This segment was chosen for a few reasons: 1) Doors and frames for corrosive environments are generally specified by architects and engineers who specialize in designing structures for these kinds of environments. 2) Doors for replacement at schools need to be relatively maintenance-free, which these doors are; and again, are generally specified by architects and engineers who specialize in school remodeling. 3) Architects and engineers deal with many other potential uses for these doors. 4) While a lot of the business will come from specifications in construction documents; there are a lot of other jobs that do not go out for bid, with general contractors, glazing contractors, and hardware suppliers simply receiving contracts to do work. As much of this work also involves the replacement of doors, cultivating this segment should ensure a steady stream of repeat business.
The first target market will be the architects and engineers, general contractors, glazing contractors, and hardware suppliers in the Miami-Dade County and Broward County metropolitan areas (i.e., South Florida). This market is chosen because there is a lot of construction ongoing in South Florida, and there are both new and remodeled water and wastewater treatment plants in constant construction. This target market is also chosen because it is close to the manufacturing and office facility, so that any customer service opportunities can be handled quickly. In addition, by staying local to start the business, any issues with samples, brochures, website issues, presentations, and other sales and marketing related issues can also be handled in an extremely timely fashion. Starting at approximately month six, the firm intends to start soliciting business from the rest of the State of Florida and other states. At the first anniversary of the business, the firm will then start to solicit business from foreign contractors, doing work for the U.S. Government.
A search of the U.S. Census Bureau web site (www.census.gov) discovered the following NAICS information for the marketing segment:
237110 Water and Sewer Line and Related Structures Construction - This industry comprises establishments primarily engaged in the construction of water and sewer lines, mains, pumping stations, treatment plants, and storage tanks. The work performed may include new work, reconstruction, rehabilitation, and repairs. Specialty trade contractors are included in this group if they are engaged in activities primarily related to water, sewer line, and related structures construction. All structures (including buildings) that are integral parts of water and sewer networks (e.g., storage tanks, pumping stations, water treatment plants, and sewage treatment plants) are included in this industry.
238150 This industry comprises establishments primarily engaged in installing glass (i.e., glazing work) and/or tinting glass. The glass-work performed includes new work, additions, alterations, and maintenance and repairs.
421710 This U.S. industry comprises establishments primarily engaged in wholesaling hardware, knives, or hand-tools.
Unfortunately, the data by six-digit NAICS for each of the counties in the target market was unable to be found. Instead, a search of a mailing list firm (www.infousa.com) was conducted, using the three NAICS codes (237110, 238150, and 421710) and two of the area codes for South Florida (305, 954). A total of 196 firms were generated by the mailing list firm.
Endure Heavy Duty Aluminum Doors and Frames door is positioned at the high end of the industry. While higher in price than any of its competitors, it also offers services that the competitors do not, such as pre-paid freight, the ability to re-glaze a broken window in the field, and most importantly, the most attentive customer service in the industry, as examples.
Endure Heavy Duty Aluminum Doors and Frames has all of their marketing materials on their website. There are four different constructions of the door, and the specification downloads of each are tracked. The percentage of each download versus the total number of that model that has been fabricated allows for an understanding of how architects and engineers are learning about the products. In addition, each download receives a short open-ended survey to determine their intentions. There is a registration form on the website, and it is also tracked via submissions and abandonment. Submissions receive an open-ended survey to determine their intentions. All orders are custom made, so that all fabrication time is tracked. This allows for determining costs, and net profit for each order. Market share is determined by the number of orders received divided by the number of quotations given.
The firm has, as most do, varying strengths, weaknesses, opportunities, and threats.
Executive management team
The CEO/President and Vice-President together have over 100 years of experience in the manufacturing, marketing, and sales of aluminum doors, frames, and hardware.
The Plant Manager and Sales Manager each have over 15 years experience with Endure; the Accounting Manager has over 40 years experience with Endure.
Each of the seven (7) plant department foremen have over 20 years experience with Endure.
Rank and file
Twenty-five (25) of the employees have been with Endure over 15 years.
Endure has been in the manufacturing business since 1946, and has a strong brand name in the industry. Endure has a strong reputation for being able to solve any customer’s opening opportunity.
The recession has caused many customers to reduce their ordering, merge, or simply close down. Sales are approximately 65% of what they were three years ago. This has resulted in extremely tight cash flow for Endure.
Despite the recession, all raw materials have seen rising prices from .75% up to 4.75%. While number of employees is down, unemployment taxes have risen, as has state disability taxes, and health insurance premiums.
While there were only four national competitors, and just a handful of other local competitors, the recession has led to the closing of one of the national competitors, and the assumption that some of the local competitors have also closed.
As a corollary to the reduced competition, increased sales could be a result, assuming Endure is able to market to the firms that were using the competitors who closed.
While Endure does have reserves, they are not endless, and there is the possibility that should not enough business materialize over the next 180 days, Endure could close.
It is possible that Endure may not be able to fully re-coup all of the increased raw material costs from their customers, which would further erode the already slim margins.
City, county, and state funding
Virtually 100% of the government business comes from these three entities, and if they are unable to pay their bills, or have to severely delay payment, this could cause Endure a terminal cash flow problem, that could lead to the business closing.
U.S. Census Bureau. 2011. Retrieved from www.census.gov
Iacobucci, D. (2014). MM4, Marketing Management. Mason, OH: Cengage Learning.
- 7 years ago