Marketing Plan Presentation for Its Popcorn Time! (IPT)
• Situation Analysis Its Popcorn Time! (IPT), based in Havertown, Pennsylvania, seller of flavored popcorns and other gourmet treats has been performing good and creating a niche in the market as manifested by rapid sales growth. Current products include flavored popcorn, snack sized pretzels and cookies. Product selling strategies presently involves several storefront locations around Philadelphia. Selling of products took place at storefront locations and take phone orders for delivery in the area.
Products are also sold in bulk to local gift basket producers and caterers. Given these remarkable market performance, IPT would like to respond to emerging opportunities namely a. new product roll-out and b. market expansion. a. New Product Rollout IPT still considers itself a local, Philadelphia company and acknowledges the presence of a substantial Amish community in nearby Lancaster, Pennsylvania, who are commonly referred to as Pennsylvania Dutch.
In this regard, IPT is considering signing a contract with an Amish food manufacturer to supply typical `Pennsylvania Dutch` treats such as shoofly pie, horehound candy, and various jams and jellies. IPT feels that the addition of Pennsylvania Dutch products will garner more local customers. b. market expansion IPT can expand market share by expanding the business to the regional level. • Marketing Plan As the marketing manager for IPT, it is my task to make sure that the company continues to meet the needs of our customer and at the same time get value from doing so.
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IPT’s present performance could still be improved and emerging opportunities are addressed by accomplishing the marketing plan below: Table 1. Marketing plan (“Small Business Marketing Strategies,”n. d. ) Mission What is the over-all goal of the company? Objectives What are we trying to achieve (usually over the next year) must be measurable and specific. Product profile, target market, target volume should be taken into consideration. Strategies The 4Ps (Product, Price, Place, Promotion).
Product- are we creating products that our customers want? Price- how much are the intended customers willing to pay? Place- available at the right place, at the right time, at the right quantities. Promotion- how are the chosen target groups informed or educated about the company and the product? This includes all the weapons in the marketing armory-advertising, selling, sales promotions, direct marketing, public relations, etc. 4. Tactics (Plan and Time & Events) Which elements of the marketing mix are most appropriate?
Which weapons in the marketing armory? Set out the detailed plan including the time frame for all elements (“Marketing Mix,”n. d. ) Implementation and monitoring of the company marketing plan shall be IPT’s guide towards achieving its mission.
References Small Business Marketing Strategies. Retrieved January 10, 2008 online from http://www. marketingprinciples. com and Tim Cohn Copyright 1997-2002 Marketing Mix. Retrieved January 10, 2008 online from http://www. 12manage. com/methods_marketing_mix. html.
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Marketing Plan Presentation for Its Popcorn Time! (IPT). (2018, Jan 18). Retrieved from https://phdessay.com/marketing-plan-presentation-for-its-popcorn-time-ipt/
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