You have been appointed as the leader of a five-member technical committee to prepare a marketing plan for your company, Quality Fresh Drinks Limited, which is well noted for the production and sale of fresh, natural fruit drinks.

Required:
i) Explain the marketing concept to the other members of the technical committee. (4 marks)
ii) Explain FOUR (4) elements of a marketing plan you would recommend to the technical committee. (8 marks)

i) Marketing Concept:
The marketing concept is a business philosophy that assumes that the extent to which an organization can satisfy the needs of its customers more effectively and more closely than its competitors largely determines its success. This means that in whatever activity the firm engages, it has the customer as its central focus.
(4 marks)

ii) Elements of a Marketing Plan:

  1. Executive Summary: The marketing plan should begin with a summary of the main goals and recommendations. The executive summary assists management in grasping the major goal of the plan.
  2. Situation Analysis: This portion of the plan provides the required background information on sales, costs, the market, competitors, and environmental factors. It attempts to find answers to how the market is defined, its size, and whether it is growing or declining. The information collected is then used to conduct a SWOT analysis.
  3. Marketing Strategy: At this stage, the marketer defines the mission, marketing, and financial objectives together with the target groups and needs the market intends to satisfy. The strategy should be specific about the branding strategy and customer strategy used.
  4. Financial Projections: These include a sales forecast, expense forecast, and break-even analysis. The projections show the expected cost of marketing and the minimum number of units sold monthly to cover the fixed and variable costs per unit.
  5. Implementation Controls: This section of the marketing plan outlines the mechanisms for monitoring and revising the plan where possible. This is facilitated when goals and budgets are clearly defined for each month or quarter.
    (8 marks)