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Essay 200 MKT-Markteing Research (203-MKT)
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Brief and concise work on 203-MKT (Marketing management). this document discusses industry as a whole, key players, SWOT analysis and creating a business plan.
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1203MKT- MARKETING MANAGEMENT
ROHAN SAI KADARU
5340CNWQ
Marketing Management
Mr. NG SIAH HENG
18TH JUNE 2022
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Table of Contents
EXECUTIVE SUMMARY........................................................................................................................................ 3
INTRODUCTION TO THE COMPANY...................................................................................................................... 4
MISSION AND VISION.......................................................................................................................................... 4
SHORT TERM AND LONG-TERM OBJECTIVES........................................................................................................ 5
HOW TO CREATE VALUE...................................................................................................................................... 6
INDUSTRY ANALYSIS........................................................................................................................................... 7
PORTER’S FIVE FORCES ANALYSIS....................................................................................................................................7
PESTEL......................................................................................................................................................................8
Political factors.......................................................................................................................................................8
Economy.................................................................................................................................................................9
Social factors..........................................................................................................................................................9
Technological factors...........................................................................................................................................10
Environment factors.............................................................................................................................................10
Legal factors.........................................................................................................................................................10
MICRO ANALYSIS............................................................................................................................................... 11
COMPETITOR ANALYSIS..................................................................................................................................... 12
SWOT................................................................................................................................................................ 13
SEGMENTATION................................................................................................................................................ 14
TARGETING....................................................................................................................................................... 15
POSITIONING.................................................................................................................................................... 15
MARKETING OBJECTIVES................................................................................................................................... 16
1. BY END OF FISCAL YEAR 2023, MEN’SWORLD WILL HAVE ENTERED THE INTERNATIONAL ESTABLISHED APPROXIMATELY 5 STORES IN
SINGAPORE............................................................................................................................................................... 16
OBJECTIVE 2: IN 12 MONTHS’ TIME, THE COMPANY WILL DEVELOP AN AUTOMATED VIRTUAL DELIVERY SYSTEM WHICH LETS THE
CUSTOMER PURCHASE ANY PRODUCT WITHOUT IMPOSING BARE MINIMUM PURCHASES............................................................17
OBJECTIVE 3: BY THE END OF FISCAL YEAR 2023, MEN’SWORLD WILL REDUCE THE PRICE OF EACH PRODUCT BY PRODUCT BY 10
PERCENT................................................................................................................................................................... 17
MARKETING STRATEGIES................................................................................................................................... 17
PLACE...................................................................................................................................................................... 17
PRODUCTS................................................................................................................................................................ 18
PRICING....................................................................................................................................................................19
PROMOTION STRATEGIES..............................................................................................................................................19
REFERENCES...................................................................................................................................................... 20
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Executive summary
The Men’s World’s mission informs the key decisions of the company towards
improving its performance. It is ubiquitous that the company places the customer at the center of
the production process, to generate above average returns, it has to develop initiatives that
benefit and attract the customers. For example, it has instituted a low pricing model for all its
products which allows the customers to save. Men’sWorld recognizes that a pragmatic strategy
to gain financial growth is satisfying the customers. To satisfy customers, it has to provide
customers the opportunity to shop from their retail shops and the eCommerce platforms. The
integration of the retail stores and eCommerce creates an omni channel that is time saving to the
customer. The main purpose of this report is to provide Men’sWorld’s marketing plan which
consists of situational analysis, industry analysis, competitor analysis and the overview of
company’s marketing strategies. The findings of the study will provide a backdrop from which
recommendations on improving company’s competitiveness and financial returns could be
established.
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