Decisions for Quarter One and Quarterly Business Review

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MarketingPlan2021.docx

TO:Functional Managers

FROM:William Sellums (Marketing Manager)

Marketing Plan 2021

(Company Use Only)

MARKETING PLAN 2021

ASSUMPTIONS:

1. Demand for the product will increase as the product gains acceptance. The market is stimulated by advertising and marketing expenditures and value pricing.

2. Product quality will become a major factor in product selection. Competing manufacturers will emphasize quality improvements.

3. Costs to produce will be reduced through efficiencies and manufacturing improvements so that cost savings can be passed on to customers through more attractive prices and/or payment terms.

 

OBJECTIVES:

1. Achieve a 36% market share by year-end 2021.

2. Price the product competitively to gain and maintain share; avoid erratic price shifts regardless of the competition; keep the price consistent with reasonable profit margins.

3. Increase our marketing investment as quickly as possible to 15% of sales and maintain reasonable levels of investment through year end. Periodically evaluate our investment needs as our product offering evolves.

4. Stimulate market growth by attaining a 7% of sales advertising investment and maintain reasonable investment through year-end.

5. Position the company to take advantage of an exploding market fed by innovation to drive expanding demand for our product.