Marketing Plan Report: Introducing an Amended Product for Nespresso

Develop a marketing plan (report format) to roll out a amended productBuilding upon the work completed in your previous assignment ( Nespresso), you are required to suggest either: an entirely new product that can be introduced to the market; an alteration to an existing product.In doing so, it is expected that you will:

  1. Clearly identify the business vision and mission;
  2. Clearly understand the current market situation of the or consider opportunities and threats for the future;
  3. Determine marketing objectives that will assist the organisation in moving further towardits business vision and mission;
  4. Develop a high-level marketing plan that provides an outline for the company to follow.
    There will be 5 sections.
    Section 1 Identify Business Vision and Mission (suggested word count: 100 words)
    Section 2 Conduct a Marketing Audit (suggested word count: 400 words)
    Section 3 Determine Marketing Objectives (suggested word count:250 words
    Section 4 Develop a High-Level Marketing Plan (suggested word count: 1000 words
    Section 5 Conclusion Minimum of 10 references.
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Sample Answer

 

 

Marketing Plan Report: Introducing an Amended Product for Nespresso

Section 1: Business Vision and Mission

Vision: To be the leading provider of premium coffee experiences globally.
Mission: To inspire and nurture the human spirit – one cup, and one customer at a time.

Section 2: Conduct a Marketing Audit

Current Market Situation:

– Strengths: Strong brand reputation, innovative technology, wide product range.
– Weaknesses: Limited sustainability initiatives, high price point, limited accessibility.
– Opportunities: Growing demand for sustainable products, emerging markets, customization trends.
– Threats: Intense competition, economic downturns, changing consumer preferences.

Proposed Amended Product:

Introduce a line of Nespresso coffee capsules made from ethically sourced and organic coffee beans to cater to the increasing demand for sustainable and eco-friendly products in the market.

Section 3: Determine Marketing Objectives

1. Increase market share by 15% within the next year through the launch of the new sustainable coffee capsule line.
2. Improve brand perception by emphasizing Nespresso’s commitment to sustainability and ethical sourcing.
3. Expand customer base by targeting environmentally conscious consumers and millennials.

Section 4: Develop a High-Level Marketing Plan

Product:

– Launch a new line of Nespresso coffee capsules made from ethically sourced and organic coffee beans.
– Offer a variety of flavors to cater to different consumer preferences.

Price:

– Set competitive prices for the sustainable coffee capsules to attract price-sensitive consumers.
– Implement a subscription model for recurring purchases with discounts for loyal customers.

Promotion:

– Collaborate with environmental organizations to promote the sustainable aspects of the new product line.
– Utilize social media platforms and influencer partnerships to create buzz around the launch.

Place:

– Make the new sustainable coffee capsules available in Nespresso boutiques, online store, and select retail partners.
– Ensure easy accessibility and convenient purchasing options for customers.

People:

– Train staff to educate customers about the sustainability initiatives and ethical sourcing practices of the new product line.
– Provide excellent customer service to enhance the overall brand experience.

Section 5: Conclusion

In conclusion, the introduction of a line of Nespresso coffee capsules made from ethically sourced and organic coffee beans aligns with Nespresso’s vision and mission while capitalizing on the growing demand for sustainable products. By implementing the outlined high-level marketing plan, Nespresso can not only attract new environmentally conscious customers but also strengthen its brand image and market position. This strategic move will contribute to the long-term success and sustainability of the business.

References

1. Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
2. Brassington, F., & Pettitt, S. (2013). Essentials of Marketing. Pearson Education.
3. Armstrong, G., & Cunningham, M. H. (2012). Principles of Marketing. Pearson Education.

 

 

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