Marketing Plan: Definition and Opportunity

free essayThe primary target of Babycare Limited is to create a marketing program that will reach all the prospective customers to build a strong brand (Ford, Bornstein, & Pruitt, 2007). The company will also aim at developing beneficial business relationships with all the stakeholders. The above aspects are vital when it comes to the success of online businesses. The primary marketing philosophy of the company will base itself on the phrase “Babycare for your baby’s welfare.” The phrase will aim at enlightening the customers that the company will always base its operation with the affairs of the babies’ welfare.

Market Definition

The current baby products market mainly entails physical shopping for the customers. The method of shopping leads to the customers wasting a lot of time for their shopping. For this reason, an online business providing the same services would instill a new way of conducting the businesses (Ford, Bornstein, & Pruitt, 2007). One of the main reasons for the drastic expansion of the market is the improvement of the technology. The increased global competitiveness has led to increased interactions, meaning that the distribution of goods and service has been easy.

According to statistics, the value of the market will reach the $66.8 billion mark in the United States in 2017. The current value of the market in a global platform is $47.7 billion, and the sales through the supermarkets are $30.6million (The Statistics Portal, n.d.). The sheer size shows the potential that the industry holds. The low number of customers shopping through the supermarkets is an indication that customers do not prefer the physical shopping. For this reason, there exists an opportunity because many customers will readily accept the idea of online shopping. The major players in the sector are Procter & Gamble and Johnson & Johnson. Procter & Gamble currently controls 41% of the global market (The Statistics Portal, n.d.). The projected potential in the industry means that there are new customers that Babycare Limited can attract. Moreover, the online aspect of the company will attract the current customers of the competitors.

Opportunity

Many firms in the sector not fully adopted the online retail aspect. For this reason, there exists an opportunity for the company (Ford, Bornstein, & Pruitt, 2007). However, it will take proper marketing skills and consistent availability of information to the customers to persuade them to shop from the company (Ford, Bornstein, & Pruitt, 2007). The company will count on the strong and able management to withstand the turbulence of the market.

The provision of quality and unique products also presents an opportunity for the company. The current consumer market has become more selective, and it has preferred high-quality products to the low priced ones (Ford, Bornstein, & Pruitt, 2007). For this reason, the company will have the chance of amassing quality oriented customers due to its related policy. The fact that the business will operate on an online platform means that the production and operating expenses will be lower. For this reason, there will be a high probability of producing high-quality products at lower costs. The provision of lowly priced quality products will be the perfect tool to attract more customers.