Marketing Plan Research Paper Example | Topics and Well Written Essays - 2250 words

Marketing Plan - Research Paper Example Satellite television has premium charges and many people cannot afford its charges. The Beat Broadcasting Network realized this and decided to proceed with the cable television. In so doing it came up with a product service called biTV: which is internet Television and has drawn up a marketing plan to facilitate the implementation of the service to many of its subscribers. Executive Summary of Marketing Plan The Beat Broadcasting Network is an international media company based in America that specializes in cable-based television broadcasting. Through a comprehensive market research the company has realized the importance of cable television especially to the upcoming markets in other continents such as Africa. The company has decided to launch a new television service in the market called the biTV service. This is internet television that is aimed at providing flexible content and affordable prices to the company’s subscribers. Viewers will subscribe to the service and depend ing on the duration of their subscription will access various contents and channels that will be streamed directly to their home Television or PC as long as they are connected to the internet. The purpose of this service is to maximize on sales and profits and to penetrate other continents that the company is yet to make a huge impact. The pricing will be low and this is aimed at getting more people to identify with the company and secondly because the target population is the young generation that are still unstable financially. This service aims at changing the state of the internet television in the market by providing flexible coverage and content to everyone at affordable prices. Company Overview Beat TV was launched in in 1996 as the fifth cable television provider. The company was established from a sister company named The Beat News Network that has a global coverage. This company is owned by two American brothers and renowned journalists who began it to provide entertainmen t and maximize on advertisements in the industry. The Beat Television network has many affiliates and these operate many entertainment channels internationally, broadcasting programs in the US and in local countries. The company was rated as one of the best cable TV in a survey covering people aged between 16 and 49 coming second to Fox TV. It became popular because of its programs that majorly target the young generation producing content that the youths easily identify with and a wide range of other programs that cover a majority of the age groups unlike other cable television networks. The company is fifteen years old and enjoys coverage globally targeting the young and the middle age group in America and the rest of the world. Company has no partnerships but enjoys the coverage of the parent company, The Beat Broadcasting Network that has always supported its marketing activities, though not all activities that are aired by the beat Network are aired by the Beat Television. Rece nt successes in entering the African market have given it a big boost keeping in mind that most American Television networks operate in Europe and Asia. It has partnered with local television networks to air content both local and foreign especially movies and series. The company’s total revenue increased from 1.5 billion in 2009 to 1.8 billion in 2010 representing a 16 percent increase in revenue. This was attributed to the expansion in the African markets and the

Marketing Plan Role And Structure Essay Example | Topics and Well Written Essays - 2500 words

Marketing Plan Role And Structure - Essay Example This paper will therefore, discuss the role that a marketing plan plays in enabling the product position itself in the market. It will also discuss different elements of a marketing plan and importance of each element in enabling the marketer market the product. In addition, it will provide an appropriate structure of a marketing plan and distinctive features between a marketing plan and business plan. Also, the paper will look at how each element in a marketing plan enhances the marker’s understanding of the market. Different assumptions made when drafting a marketing plan will also be discussed and their relevance in accordance with the marketer’s objective. Lastly, different marketers use marketing plan for different purposes. These purposes will be analysed and select the most appropriate use of a marketing plan. This will help in coming up with a detailed conclusion on the effectiveness of a marketing plan in helping the business to increase its overall profits (Bu rrow & Bosiljevac 2011). Role and nature of marketing plan A marketing plan can be defined as a product or companywide plan that describes all functions involved in achieving marketing objectives in a certain timeframe. A business plan provides a general platform that a business needs to follow in order to achieve its goals. Marketing plan is a part of business plan that goes deeper in discussing the sales and marketing planning. It also offers market analysis, expense budget; sales forecast and even different milestone tables. On the other hand, business plan covers the overall expenditure to be covered with a business. Therefore a market plan plays a great role in setting up an appropriate business plan (Cohen, 2005). A marketing plan defines the firm’s long-term mission. Every business has its mission that it wants to achieve. This cannot be possible if the business does not have an appropriate strategy to be followed. Marketing plan therefore, provides the appropriate str ategy that a business must follow in order to achieve its mission. It also analyses all the risks and uncertainties that may face a business or a product in the market and provide the possible solutions. The mission is mainly based on an understanding the target consumers and all prospective competitors that might hinder the mission from being achieved (Cohen, 2005). Marketing plan helps in environment assessment. The plan summarizes the firm’s strengths, weaknesses, opportunities and threats and provides a way on how to manipulate these aspects in order for the company to increase its overall revenue. It mainly provides a way forward on how to take advantage of the available opportunities in order to strengthen the business position in the market. It also defines business strength and how to use them to increase the business competitiveness in the market. In addition, it defines all weaknesses that a business faces and how they can be eradicated or improved to fit the busine ss mission. It also analyses the possible threats that faces the business and how to evade them (Cohen, 2005). A comprehensive marketing plan assesses the current status of the marketing effort in regard to pricing, distribution, product and promotional strategies. It assesses the relationship that exists between the business and other external factors such as competition, and target market. This help the marketer develops appropriate and measurable sales objectives.