Marketing Plan - JustAnswer



Marketing Planyour nameClassDateInstructor nameMarketing PlanAbstract This paper explains about the marketing plan. It will identify the examples and describe the difference of successful and failure of the marketing plan. It will discuss the marketing analysis of the flop movie and the factors that were accountable for the failure of the movie. Marketing PlanCompanies are using marketing strategies to include value to their marketing actions. Currently in this globalization period every company should perform marketing plan with a careful outlook (Kotler & Westman, Fall, 2006). It is vital part of any organization success to be focus on the success or failure of the marketing strategy. Definition of Marketing Plan “A marketing plan is a series of activities that are formulated to attain a specific objective or goal in a set time period” (Holden, 2000). Marketing plan for any organization can be established by the management team for short and long term advantages. Creating marketing plan for any organization is important to know about the present and future of the company, for instance where the company is right now and where it is going and what would be process to go further. To achieve the goal of the company, proper internal and external marketing factors should be analyzed. Marketing Plans: an Example of Success To obtain the promising marketing objectives, it is important to structure the marketing procedure efficiently and to consider significant success aspects (Spallina, Fall, 2005). Coca Cola marketing plan with the promotion of spreading it all over the world which was great accomplishment for the company. “The company has used famous musicians like new seekers and hilltop singers for the musical advertising campaign that acquired concentration of people towards the use of coke” (Klein, February, 2008). To draw the attention of target audiences, the company focused over the youthfulness which analyses the demographic factors for instance age, gender, and income and before implementing the marketing plan of coke in peoples’ minds. The company used different broadcasts and print media to promote coke in the U.S. and non-U.S markets. To include music in their advertisements they became to top international brand all over the world. In-depth analysis of market variables and trends had resulted into the successful implementation of marketing plan developed by Coca Cola (Kotler, 2003). Marketing Plans: an Example of Failure It is obvious that if the marketing plans are established significant tactic then it would a success but at the same time deficient in establishing market research essential for the marketing plan can be failure of the overall marketing plan (Spallina Fall, 2005). Same was the case with Ford Mortor Corporation (FMC), when they developed marketing plan for Edsel which was a big failure. After introducing, Edsel, administration of the company had changed that also proved a big mismatch with the launched automobile. Ford Edsel was rejected by the people due to its inability to fulfill their requirements (Dick, 2010). People rejected the marketing plan of introducing Edsel. There were several reasons for the failure of Edsel marketing plan but the main reason was little investment. The company did not invest enough to develop the plan and the research was not perfectly performed by the management (Dicke, 2010). Analysis of Examples In the analysis of the above mentioned two examples of marketing plan, it was conducted that there is a difference in the approach of marketing, one was failure and other was success. The failure of marketing plan of Ford Motor Company was due to weak strategic managemet while on the other hand coca cola marketing plan was based on aesthetic attributes which was the youngster’s attraction for the coke. “Situational analysis planning used by Ford Motor Company was the reason of their failure” (Kotler, 2003). While effective marketing plan for coca cola, led the company to success on global level. The Box Office Flop: a Marketing Application It is very hard to predict the success or flop of box office, it is possible only after the interaction between movie and audiences in theaters. “Predicting success of a movie is a challenging task that is associated with lot of risks and uncertainties “(Delen & Sharda, 2008). After the movie distribution, it is all in the hands of the viewers. In the Hollywood, there are several examples of box office failure. Heaven’s Gate is one of the biggest failures of Hollywood movie that is known for its horrible dissimilarity (Hayward, 2006). In the Hollywood industry, there are diverse illustrations of box office failure. The biggest movie of Hollywood that is know for its horrible dissimilarity is Heaven's Gate (Hayward, 2006). This movie was resulted as a flop flick due to its high resources, extra star cast and overconfidence of its director. Director of this movie, Micheal Cimino hired many actors and actresses to hit the box office, but his efforts weren't effectively positioned.According to the article, poor planning and management for leading Heaven's Gate were the factors of its failure at box office. Within 3 days of its release, the movie died, displaying failure. At the time of its release, expectations were high, which resulted in the loss its cost. Due to the movie's failure, the director switched from an A league director to a B league director. It is not an easy task to handle the financial forecast of a Hollywood moive (Delen & Sharda, 2008). It is not possible to make sure that movie would be a success even if there is a lot of predications and assessments. Hollywood film industry is just a hunch and no one in reality can predict the future of a movie in the market. “A small mistake during the movie production and direction can result into heavy loss in terms of its revenues. Artists, sets, studio efforts, script etc play a vital role in the overall credibility of a movie that if not selected cautiously can result into flop at box office” (Spallina, Fall, 2005).??A movie can only be a success and save the investment if the script is good and execution is effective. For the movie director as well as producer, it would be a big blunder if there is a little mistake or any avoidance. It is all about team work and if it is not managed properly then the whole creditability can go down. “Special efforts, genre, star value, sequel, number of scenes, competition etc are the independent variables that decide the success or failure of a movie” (Delen & Sharda, 2008).Marketing Analysis: What Went Wrong? Box office collapse of highly anticipated film was connected with a number of factors or aspects that had contributed in its flop. Audiences have discarded this extremely overvalued flick due to destitute script and unwanted roles in the form of extra persons. Overconfidence of the director was another reason of this all time box office failure. Decision making of the director was also not good that is another factor that contributed in the biggest flop of Hollywood. Studio executives of the film had also not performed well that is another reason of its flop at box office. The movie was flop because of the un appropriate decision tools. “Due to the superstardom of Cimino, the studio had permitted him to do according to his wishes with the movie, but the confidence of the studio had broken by the director. This trust of the studio had resulted into its loss of market position as well as existence. Poor projections regarding the budget of the movie had dragged this epic story into a disaster. Objectives and goals were not properly set by the director” (Kotler, 2003). Another reason was that filmmakers did not formulate the strategic planning and the market targeting, positioning and pricing was also not structured properly. “ Situational analysis like macro factor analysis and SWOT analysis were also not performed effectively that had led to the unexpected results after the movie release” (Kotler, 2003).Third reason was the deficiency of efficient forecasting models. It is very important for implementing marketing plan related to movies to apply good and promising forecasting models.References Delen, D & Sharda, R. (2008). Predicting The Financial Success Of Hollywood Movies Using An Information Fusion Approach. , 31(1), 30-37. Dick, T. (2010). The Edsel: Forty years as a symbol of failure. The Journal of Popular Culture, 43(3), 486-502. Hayward, S. (2006). Cinema studies: the key concepts (3rd ed). New York: Taylor & Francis.?? Holden, A.C. (2000). Transparency and Accountability an Integral Part of the Marketing Plan of the New European Central Bank. Journal of Nonprofit & Public Sector Marketing, 8(2), 65-84.?? Klein, B. (February, 2008). In Perfect Harmony: Popular Music and Cola Advertising. Popular Music and Society, 31 (1), 1-20. Kotler, P. (2003). Marketing insights from A to Z: 80 concepts every manager needs to know. New Jeresy: John Wiley and Sons. Kotler, P & Westman, J.C. (Fall, 2006). What CEO Needs to Know and Do About Marketing. Retrieved from Executive Forum Website: Spallina, J. M. (Fall, 2005). Marketing Goals and Strategies. The Journal of Oncology Management, 1-10. ................
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