Table of Contents
This marketing plan is fundamental for the success of Zumba Agency they should put into consideration the scope of plan in terms of product scope, a review of the market and target market as well as the effects. Hiebing, Hiebing & Cooper (2004) says that while examining the scope it will be important that Zumba Agency determines its core competencies and marketing capabilities. These aspects will determine the agency’s market penetration. Westwood (2006) noted that conducting market research will ensure that the agency has a clear picture of the market and a good understanding of how the market changes.
Zumba Agency marketing plan will encompass the agency’s objectives that are expressed in terms of financial terms and they define what the agency aims to be at some time in the future (Westwood, 2002). This will relate to such things as turnover, profit before tax, return on capital and return on investment. For this agency the marketing plan will be essential considering the hostile and complex environment in which the agency will be operating in (McDonald, 2007).
The agency should carry out a SWOT analysis in order to establish the marketing environment. Westwood (2002) says that the importance of this is to have information about the customers and competitors. Effects that may the operation of Zumba Agency will also be addressed in this step such as economic and business environment. Opportunities and threats according to Westwood (2002) are presented by both the marketing environment and by the competition while its strengths and weaknesses relate to the company and its strategies and how it compares with the competition.
It is important to outline the marketing objectives and the target market at the same time. Stapleton & Thomas (1998) says that the marketing objectives should indicate what the agency intends to achieve within a certain period of time. For Zumba Agency will be to obtain a market share of 25% in the first six months. The target market will be people from the age of 10 years to 80 years of age. The plan should also indicate the marketing strategy which is the art of preparing the company’s resources to ensure that maximum sales penetration over a medium term of its operations. In this context the marketing team will put into consideration the agency’s customers, competitors and overall economic and political environment.
Marketing mix and Budget
In addition, Zumba’s marketing plan should have a clear and concise marketing mix. Marketing mix will include the 4p’s of marketing which are product, price, promotion, and place. Stapleton & Thomas (1998) says that the strategic options of product should be to expand the line, change performance, and quality features, positioning and branding of aerobic dance in its market share. Pricing strategic options will ensure that the agency changes its price terms and conditions, adopt skimming policies as well as penetration policies.
Moreover, Stapleton & Thomas (1998) indicated that promotion marketing mix will ensure that the agency changes advertising and advances its personal selling. Finally the place or distribution marketing mix will ensure that the agency changes its services, its channel of delivery and at the same time change the degree of forward penetration of its aerobic dance. The marketing plan should also indicate the strategy of going to e-business direction and utilize the recent growth of internet or its penetration. It will be essential that the budget is indicated putting into consideration the time and amount of money to be spent in the promotional plan.