LP02.1 Assignment: Music2Go Situation Analysis and Marketing Plan

Student’s Name
Professor’s Name
Course
Date
Marketing Plan
The Company’s Mission Statement
Nates Blue Music Inc. produces all kinds of music beats that can be used to produce music that can be widely accepted by the current generation. Given the applicability of the ultra-modern manufacturing machines and our top-talented employees, we give top quality products and services than any other music company.
The Company’s Goals
After two years to have tactfully penetrated into the targeted markets.
To attract highly talented and motivated employees within the next one year.
To double the number of clientele within the next six months.
The Company’s Implementation Strategy
To penetrate into the existing market, the company shall use the economy pricing to attract as many clients as possible. Equally to penetrate the market the company must manage its retail margin, which shall be calculated on a monthly basis to ensure that the clients do not buy our Sonic 1 product expensively. Attracting clients and talented employees to the company is essential, but that can only be attained through excellent marketing, and the company shall spend between $1000000 to $4000000 ensure that our company is well advertised across all channels. These channels shall include online, television, radio, and billboard adverts, but more cash shall be spent on online marketing since many people, more especially the youth are currently using social media platforms ADDIN ZOTERO_ITEM CSL_CITATION {“citationID”:”EvDkoqWW”,”properties”:{“formattedCitation”:”(Tomczak et al.

225)”,”plainCitation”:”(Tomczak et al. 225)”,”noteIndex”:0},”citationItems”:[{“id”:1188,”uris”:[“http://zotero.org/users/local/jCalfsCA/items/DUN2PKPF”],”uri”:[“http://zotero.org/users/local/jCalfsCA/items/DUN2PKPF”],”itemData”:{“id”:1188,”type”:”chapter”,”title”:”Marketing Implementation and Management Control”,”container-title”:”Strategic Marketing”,”publisher”:”Springer”,”page”:”223–244″,”source”:”Google Scholar”,”author”:[{“family”:”Tomczak”,”given”:”Torsten”},{“family”:”Reinecke”,”given”:”Sven”},{“family”:”Kuss”,”given”:”Alfred”}],”issued”:{“date-parts”:[[“2018″]]}},”locator”:”225″}],”schema”:”https://github.com/citation-style-language/schema/raw/master/csl-citation.json”} (Tomczak et al. 225).
Also, the company aims at doubling the number of clients, meaning that the number of total sales shall also increase, but to attain that the company will ensure a gradual increment of 2% sales each month without raising the prices for its Sonic 1. By selling quality products at a low cost, more clients shall be attracted, and the product shall develop to outdo the competitors.
Lastly, given the high demand for music services, our company shall offer quality Sonic 1 products to be used by the current young generations, who currently possess smart devices that can allow them to enjoy the music from anywhere. After the launch of the Sonic 1 product, it shall be sold at a discount to reach to as many target clients as possible ADDIN ZOTERO_ITEM CSL_CITATION {“citationID”:”A7rDXLeJ”,”properties”:{“formattedCitation”:”(Tomczak et al. 230)”,”plainCitation”:”(Tomczak et al. 230)”,”noteIndex”:0},”citationItems”:[{“id”:1188,”uris”:[“http://zotero.org/users/local/jCalfsCA/items/DUN2PKPF”],”uri”:[“http://zotero.org/users/local/jCalfsCA/items/DUN2PKPF”],”itemData”:{“id”:1188,”type”:”chapter”,”title”:”Marketing Implementation and Management Control”,”container-title”:”Strategic Marketing”,”publisher”:”Springer”,”page”:”223–244″,”source”:”Google Scholar”,”author”:[{“family”:”Tomczak”,”given”:”Torsten”},{“family”:”Reinecke”,”given”:”Sven”},{“family”:”Kuss”,”given”:”Alfred”}],”issued”:{“date-parts”:[[“2018″]]}},”locator”:”230″}],”schema”:”https://github.com/citation-style-language/schema/raw/master/csl-citation.json”} (Tomczak et al. 230).
Work Cited
ADDIN ZOTERO_BIBL {“uncited”:[],”omitted”:[],”custom”:[]} CSL_BIBLIOGRAPHY Tomczak, Torsten, et al. “Marketing Implementation and Management Control.” Strategic Marketing, Springer, 2018, pp. 223–244.