Group Marketing Plan (A group is preferred but may be completed individually) Yo
ID: 378413 • Letter: G
Question
Group Marketing Plan (A group is preferred but may be completed individually) Your group will develop a marketing plan based on either a current company or a fictitious company The basis of the plan is to look at the current offerings of the company and your plan to introduce eit new products or services to the existing ones. her Your marketing plan should be approximately 10-15 pages in length using APA formatting. including any graphs or charts necessary to illustrate your information. You will present your plan in a PowerPoint presentation of no more than 10 slides. We will not have in class presentations, but I do want you prepare a PowerPoint and submit it as part of your marketing plan. to The marketing plan should include but not be limited to following topics: Executive Summary- The executive summary outlines the who, what, where, when, how a why of the marketing plan. This would be considered the introduction to your marketing plan. how .Company Description-The company description summarized the history of the company; it was founded and by whom, what its products are, and why they are unique. It begins to "selil the reader on the growth of possibilities for the company. Mission and Goals-It is important to state a firm's mission and goals, including financial and nonfinancial goals Core Competencies-This section reminds employees as well as those outside the company exactly what the company does well and how it plans to achieve a sustainable competitive advantage over rivals · Situation Analysls- The situation analysis provides an outline of the marketing environment. A SWOT analysis helps marketer and others identify clearly a firm's strengths, weaknesses opportunities and threats. " . Competitors-The company should look at their competitors in the industry The Target Market-Determine the target market for the company The Marketing Mix - Discuss the proposed marketing mix of the company. This includes the product strategy, distribution strategy. promotional strategy, and pricing strategy. Budget, Schedule and Monitoring- This topic can include an overall plan and does not have to be too specific in respect to financial detailsExplanation / Answer
According to Honda Website and Reuters, the following information has been found:
Company Description:
Mission and Goals: "Maintaining a global viewpoint, we are dedicated to supplying products of the highest quality, yet at a reasonable price for worldwide customer satisfaction".
Philosophy: "The Honda Philosophy consists of Fundamental Beliefs (including "Respect for the Individual" and "The Three Joys"), the Company Principle, and Management Policies. This philosophy is not only shared by all associates but also forms the basis for all company activities and sets the standard for the conduct and decision-making of all associates throughout the Honda Group. Driven by its dreams and reflecting its values, Honda will continue taking on challenges to share joys and excitement with customers and communities around the world to strive to become a company society wants to exist".
Core competencies: Respect for the Individual by providing equality, trust and fostering initiatives with the three joys i.e. Joy of buying, Joy of Creating and Joy of Selling.
SWOT analysis:
Strengths: It the largest producer, excellent R&D facilities, innovativeness and creativity, brand name, major market share, varied product portfolio etc.
Weakness: It does not aim for lower middle class, high price, and lack of local competitive strategies.
Opportunities: world-wide expansion through mergers and joint-ventures, targeting and segmenting as per the country needs.
Threats: Competitors, hike in fuel prices, Yen exchange rates, natural disasters, political stability etc.
Competitors: Toyota, Volkswagen Group, Hyundai Motor Group, General Motors, Ford, Nissan, and Fiat Chrysler Automobiles, Hero Motocorp,
Target Market: Majority of the vehicles are for Youth and Style loving people. with an appeal of style, affordable, with emotional bondage. Apart from that having unisex concepts like Activa for young, old, children, boys, girls irrespective of all discriminations.
Marketing Mix:
Product: A varied portfolio in the place like passenger cars, mini vehicles, light trucks, power equipment etc.
Price: Middle to High-end users are targeted so prices have wide range catering different sections. From affordable cars to luxury cars.
Place: To cover entire Japan, there are 1310 dealers along with 1580 in Asia, 1150 dealers in Europe and 1310 in US. Manufacturing units are located on optimal decision-making based on the availability of local raw materials and labour.
Promotion: Market campaign ae creative and appealing to common man concept. The marketing mix is aggressive such as conducting tournaments, world cups, T20 matches, football matches etc.
Budgeting, scheduling and monitoring: Visual monitoring with highly technologically advanced systems are in place to monitor the various aspects of Honda. Robotics, Automated driving, artificial intelligence, earth dreams technology, honda sensing are few examples of advanced technologies.
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