Develop a marketing plan for an IT product or service based on market research ( Distinction work marked by Pearson) use this guide
This is Assignment 2 LAB in Unit 20 Enterprise
The assignment barely meets the assignment brief, this student has repeated what he wrote in p3 on p4 and p5 they all say the same thing. M2 is also so unclear. This document is very useless.
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Marketting
Plan
Select Mobile Valeting Service
Muhammed Muhaimen Hussain
,Muhammed Muhaimen Hussain Unit 20: Enterprise in IT HUS20001587
I'm now working on an IT-related business concept with the objective of
founding a firm to implement it. I've reached the point when you need to
develop a marketing strategy for your business concept.
P3. Using a variety of factors, choose a concept for an IT product or service.
Name of Enterprise: Select Mobile Valeting Service
The concept behind the project is to provide a mobile valet service for
automobile owners. This business will have an application and a website for
booking a valeting service, which will be the primary method of scheduling
appointments with us, and there will be choices for selecting the type of valet
you require. The business will be conducted using a mobile application and
website, where you may schedule an appointment and check the progress of
your appointment via the app or website. Within the application or website, you
will be able to see who is valeting the car, their experience in the business, and
also reviews on the individual who is valeting the vehicle. The application may
occasionally provide promotional discounts to our cherished clients who have
done business with us several times, as well as new customers who will receive
a 20% discount on their valet.
Objectives in Marketing Objectives
· Increase repeat consumers by 4% on a quarterly basis
· Consistently grow market share each quarter
· Increase brand recognition and acceptability, as measured by a reduction
in customer acquisition expenses
Financial Goals
• Increase profit margins by.5%
• Maintain an annual growth rate in the double digits for at least the first
three years
• Improve service delivery efficiency through improved training and work
flow analysis
Ideal Population
Since this valeting service is geared toward automobile owners, it will be open
to people aged 17 and up. This valeting service is intended for customers who
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,Muhammed Muhaimen Hussain Unit 20: Enterprise in IT HUS20001587
want their automobile thoroughly cleaned and restored to showroom condition,
if not better.
Additional Considerations:
• Income – Any type of income
• Location – London
Marketing Plan
We will be launching the business in the United Kingdom. We'll introduce it on
a social media site (Instagram) and will do the majority of our promotion there.
It will eventually be integrated into numerous other platforms, such as
Facebook. There will be a variety of customizable packages available, each of
which will have a different type of valet. Additionally, for individuals who require
regular valets, we will provide a subscription-based valet service at a discounted
rate for each service performed.
Price
We shall establish competitive prices in comparison to our rivals, and they must
be affordable for our clients while still generating a profit for the firm.
Additionally, we will be evaluating offerings and revising our packaging
techniques. Offer better package offers that include enhancements to the
service, such as a (Bronze, Silver, or Gold) service; nevertheless, the price of each
service will increase, as an example.
• Bronze Level of Service - £100.00
• Platinum Service - £250.00
• Platinum Service - £450.00
Our primary sponsor for this project will be Newham Sixth Form College
(NewVic), and our primary budget will be £100,000 for this initiative.
The Mission, the Vision, and the Values
Values
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,Muhammed Muhaimen Hussain Unit 20: Enterprise in IT HUS20001587
Our company's principles include treating customers and staff with respect and
putting the customer first. A courteous attitude toward your customers goes a
long way. When you communicate effectively and efficiently while paying
attention to the needs of the client, you increase the likelihood that the client
will have a great experience and acquire trust. Additionally, communication will
be critical to the success of this business. To accomplish your goals, it is vital to
communicate well during talks. Communication is also critical within the
organisation. Effective communication may help you and your staff build a great
working relationship, which can boost morale and productivity.
Mission
Our objective is to establish ourselves as one of the premier valeting firms in the
United Kingdom, with a presence in all of the country's major cities. Our goal as
a valeting company is to build a highly successful, profitable business that
provides high-quality valetes and other services throughout the United
Kingdom. As the business grows, we intend to expand into other countries,
where we intend to open offices and also sell our franchise to individuals who
share our passion for automobile valeting.
Indeed, we have set out to establish a Valeting Company that will set the
industry standard in the United Kingdom. We intend to build a business with a
committed workforce that will go above and beyond to ensure that our clients
are satisfied and their money is properly spent.
To do this, we know that it will need a firm with the appropriate employees and
structure to accomplish what we've set out to do, which is why we'll be putting
in place structures and processes that will enable us to provide great services
and run the business on autopilot.
As a fresh new firm, our primary objective is to promote the app to the United
Kingdom. We want to continuously improve the quality of existing products,
produce customised packages that include a variety of services, and make
enhancements to the services and subscriptions stated previously. Additionally,
we intend to achieve a 25% annual revenue growth rate and a sales value of
around $150,000 by 2023.
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, Muhammed Muhaimen Hussain Unit 20: Enterprise in IT HUS20001587
Vision
Our objective is to become one of the leading auto valeting firms in the UK and
gradually expand into other countries. Not only that, but we also strive to be
sponsored by other businesses, which allows us to get additional consumers this
way. We hope to see an increase in the number of customers who purchase our
valeting services, and eventually for well-known members of the automotive
world to review our business and provide positive recommendations.
P4. Conduct inconclusive research on the prospective market for an A
computer-related product or service.
Demographics
• Males outnumber females 63% to 37%. The cause for this disparity in the
male to female ratio is commonly explained by men's increased interest
in autos. Men are more inclined to spend money on extras for their
automobiles and to purchase a car as a reward for some accomplishment
or as a pleasure for themselves. Women tend to perceive automobiles
more as utilitarian objects. According to this logic, women are more
inclined to utilise an automatic car wash since they are less concerned
with protecting their "precious" automobile.
• About 40% of households earn more than $40,000.
• 73% of the target demographic has a bachelor's degree, while 39% have
a graduate degree.
Factors Influencing Behaviour
• 43% of target buyers lease their automobiles.
• The type and condition of the car that an individual or family owns defines
their image.
Market Requirements
Select Mobile Valeting Service serves the London community by delivering a
superior hand car wash service. SMVS strives to provide the following benefits
to its customers:
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