Marketing plan for ‘Nice Ices’
Marketing definition :- a process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
Formally or informally, people and organizations engage in a vast number of activities that we could call marketing. Good marketing has become a increasingly vital ingredient for business success. And marketing profoundly affects our day-to-day lives. It is embedded in everything we do, from the clothes we wear, to the websites we click on, to the ads we see. Marketing activities are activities happening at the product launch and after the launch.
Identifying the market for vending machines
Ice cream vending machines does not produce income from all markets, and a marketing plan for Nice Ices must be to analyze the geographic region that is best matched for vended sales. Some cities and countries require a health permit for ice machines. Health permits are additional costs that can be measured in the potential markets for Nice Ices which they can use them to identify the most cost effective markets. Nice Ices can get a visual of the potential market by using a physical map of markets for ice creams with highlights for public playgrounds and gathering or local parks.
Complete competitive analysis
A competitive analysis for Nice Ices consists of researching about the geographic region or the available types of vending machines available for purchase or rent. Since Nice Ices is in a partnership they should compare and contrast terms of sales and agreements and note the options for protected markets when considering the partnership or franchise. Thy should compare the market identification inventory and the information collected by the partnering companies to determine the best market approach.
Develop overall marketing strategy
By using an initial marketing survey Nice Ices can identify the traffic routes and foot traffic to and from their vending locations along the routes. Identify vending machines situated at potential markets with locations of high traffic and foot traffic. Do a drive by around these locations identify how many existing vending machines are available and companies offering the ices and the address of the properties to complete the overall market strategy. Thus identify the seasonal potential seasonal changes and estimated amount of fresh ices sold each day by every vending machine, this can be done by observing some machines for a couple of hours to verify the estimations. Find the cost to setup the vending machine and fees in installing electricity and water from nearby city utilities and also estimate the fee to those accepting vending machine placements.
Develop overall sales strategy
The appearance of the rental or own machine impacts the temptation to buy ice cream. Create an advertising logo and make public awareness of he brand by having an ad campaign. Work out a sales strategy to incorporate sales incentives and find a bonus for placement of advertisement at the location of the vending machine. Contact local parks and playgrounds to inquire the prices for pitting up an advertisement and distributing promotion coupons at venue.
Production, Product, Selling, Marketing
• Production Orientation
The production concept is one of the oldest concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Production oriented business concentrate on achieving high production efficiency, low costs, and mass distribution.
• Product Orientation
The product concepts proposes that consumers favor products that offer the most quality, performances, or innovative features. These organizations focus on making superior products and improving them over time.
• Selling/sales Orientation
The selling concept holds that consumers and businesses, if left alone, wont buy enough of the organizations products. The organizations must, therefore undertake an aggressive selling and promotion effort. The selling concept is practiced most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance and encyclopedias. Most firms also practice the selling concept when they have overcapacity.
• Market Orientation
Instead of a product centered, “make-and-sell” philosophy, businesses shifted to a customer centered, “sense-and-respond” philosophy. The job is not to find the right customers for the product, but to find the right products for the customers.
Advantages & Disadvantages Of Product Oriented
Advantages :
One advantage of a business being product oriented is that it allows them to be focus on the product quality. For a small business like Nice Ices they don’t need to be worried about what flavors customers want to buy. Instead their sole purpose would be to focus and create a new perfect product. Small business such as Nice Ices can focus and spend on new flavors other than existing flavors in the market which will help them to compete with the competitors.
Another advantage of being product oriented is it allows for a technology
Disadvantages :
If Nice Ices doesn’t develop a brand with a clear image, they might be limited as to what they sell. Customers might not trust the brand due non brand awareness or brand reputation.
Making profit from a first rate product in the market may require setting high prices but which will be higher than the market will accept. For example if Nice Ices becomes product oriented and creates a premium ice cream flavor the cost of it will be high pushing them to increase the price for consumers which they are not willing to pay.
Factors From Micro Environment
Micro environment definition :- Factors or elements in an organizations immediate area of operations that affects its performance and decision making freedom. These factors include competitors, customers, investors and media & general public.
Customers :
The most direct microeconomic on businesses are customers. Simple fact is that “for profit” company cannot operate successfully without getting the interest of customers. Knowing the ideal customer types for a business it helps them to develop and present effective marketing campaigns which will result in building a customer base and generating revenue.