Marketing Plan for Whole Foods Market on Powerpoint template
Note: Below is an opportunity I had recommended for my marketing plan, but my professor said that it needs to be more specific. We can recommend a new product, service, or new buyer segment or geographic area for an existing product.
To stay on track and have a quality marketing plan completed on time, these tasks should be completed this week:
- Choose one of the opportunities from your list so that the marketing plan becomes focused. Factors to consider when making the choice include how quickly you can get to market, how big the potential market could be (Ch. 3) and how interested consumers will be in the new product, service or event (Ch. 4). Submit one paragraph describing this opportunity to me for my approval prior to continuing with your marketing plan.
- Segment the market using the concepts you learned last week (Ch. 9) and select one or more segments to target. Make sure you can articulate the needs of this market segment. (No submission necessary)
Considering the fact that the trend of an “organic” and healthy life is increasing dramatically every year -11% up from the previous year, when the same time the overall food market’s growth rate is 3% – , Whole Foods Market has a great opportunity to augment its customer base. To succeed that, it needs to make his well-known expensive products more appealing, promoting the private – label products (which are more affordable, while maintaining the same high quality), daily deals, and happy hours. Massive and traditional advertising will start from the States that have the more visits at Whole Foods stores, and in that way, through the word of mouth, people will learn about the “affordable” side of Whole Foods Market.
Project instructions as given by the instructor: A well written marketing plan upon which an organization can execute is the concluding project for this course. Your marketing plan will be based on a real life, publicly traded company. You will take on the role of CHIEF MARKETING OFFICER for this company. In your new “job” you will conduct a SWOT analysis based on public information, develop a list of ORIGINAL marketing recommendations, and selecting one recommendation, write an implementation plan, including follow up metrics. You may consider a marketing plan on any of the following topics
- Introduction of a new product
- Introduction of a new service
- Expanding an existing product to an entirely new buyer segment
- Expanding an existing product to an entirely new geographic market
This is NOT a research paper that documents the current marketing activities of your target firm.
The assignment is to be completed in POWERPOINT, as most organizations today use this format for marketing plan communication with management. A template and rubric have been attached as a resource.
The second document I am attaching is all the material we went through the last 7 weeks of class, marking grey the parts that are relevant to my final project. The book we have is “Marketing Management” Kotler Keller Pearson. The last document is regarding the projected income statement of the new product or service we will propose. Please let me know if you have any questions. The template for the powerpoint is already submitted, as well as the points that we need to include on the final. It will be very helpful if you could submit a word document with some notes explaining your thoughts outlined on powerpoint. Please review the material and let me know within the next hour if it is doable until tomorrow at 5pm. If it is, I will be confident to work on the rest of my finals.