Promotion Analysis And Suggestions For Improvement (Research Paper Sample)
Marketing Plan Analysis
Analyze the marketing and sales portions of the Aircraft Equipment Maker Business Plan (linked below). Provide suggestions for improvement based on your analysis.
Note: This sample business plan from the Bplans Web site features a fictitious organization called Stretch 'r Wings. The Stretch 'r Wings sales approach is described in Sections 5 and 6 of the plan.
Promotion Analysis: Stretch’r Wings, Inc.
The sales approach
The sales plan for the stretch 'r Wing has been effective as it clearly indicates the different components of the marketing mix. There is also a mission statement, which highlights the company’s goals. The firm seeks to grow a larger market share in the medical interior equipment for the aircraft industry. This is a unique product that will likely make the company competitive, and this is especially when the medical units are made lighter and less cumbersome to use. In marketing the company’s products the 4 P’s price, product, promotion and place. Through marketing efforts the company targets the customers, mostly the aircraft operators. Growth rates are also analyzed in the sales approach to improve profitability. This is further supported by the hiring staff members who are well experienced and know clearly what is expected of them. The company is better placed to take advantage of the growth opportunities after identifying gaps in the market and customer needs. Since Stretch 'r Wing will be most effective after considering the capabilities, competition and the target customers, projected growth and objectives.
Effectiveness of the Sales plan
When the staff understand the various elements of the sales plan they are directly involved in implementing changes and this improves sales. While the firm has identified the target market the plan did not address the situation analysis, which highlights the internal and the external factors that affect the business operations. Nonetheless, by pointing out the competitive advantages, the plan captures some of the internal strengths. The external environment includes the opportunities and threats, as maximizing the opportunities and reducing the risk of external threats. The company will improve profitability when it takes advantage of expansion (BPlans, n.d.). The sales approach also needs to be updated as the firm considers the competitors actions to respond and improve operations. While the sales staff ought to use the best strategies to maximize revenues, this is not always the case.
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