Unit one

Marketing Plan for Bravo Max Name: Institution: Introduction A marketing plan is a systematic procedure followed before any product innovation concerning the market based on the company`s goals and objectives. Some of the key aspects include thorough research on the already existing competitors, potential of the target market, competition, possible challenges deemed to be faced; financial knowledge etc. This paper will try to analyze the marketing plan of the new product, Bravomax. The four main areas of concern will be Situational Analysis, Marketing strategy, Financials and Controls. Situational analysis Arimount, being in the beauty and grooming business for the last twenty years and having a good market reception as it does, it is with no doubt that Bravomax will also lead once released into the market. This will lead to an increase in the customer base. The situation analysis will look at the strengths, weaknesses, opportunities, limitations and the threats(SWOT) being experienced by Airmount. The competitors are also very important in the situational analysis. Strength; Arimount is a star in this beauty and glooming industry and therefore, is experienced and therefore knows what and how to deliver so as to achieve customer satisfaction. It has a wide range of products from hair care to skincare products hence has achieved in meeting and satisfying most of the customer needs. However, Arimount has a weakness as it lacks proper network to reach all of its customers even the most interior parts of the region. This leaves the customers wanting and not satisfied since only the uptown customers have good access to our products. With Bravomax however, plans should be made to ensure all customers get to access the product. Advertising and product awareness is another challenge facing Airmount and these results to insufficient information on the existing products and even upcoming products. There will be an opportunity for Bravomax to thrive in the market since the products have relatively reduced prices affordable even by low earners as compared to other companies. This is due to decrease in the cost of production resulted from economies of scale. The beauty and grooming industry is growing fast and therefore, having participated in the industry, the new product will predictably be received well by the market. However, with the high rate of inflation in our country, food and basic commodities prices have shot up in leaving the ordinary citizen to spend on food, shelter and clothing therefore, Bravomax faces threat as many low income earners see the product to be luxuries which can be foregone. With Nice & Lovely, our major competitor having spread its wings and established production houses in the outskirts of the city, we are threatened since the competitor will have an up-close relation with customers and might eventually take away our own customers. Recent hoax has put in the limelight that some of our skincare products contain mercury and are therefore unsafe; this has also threatened our product and its reputation. Marketing Strategy A marketing strategy comes with a mission that encompasses retaining customers and making new customers. Bravomax should overwhelm customer and meet their quest for a longer lasting deodorant perfectly. Bravomax is projected to penetrate the market thoroughly, and this will be achieved...