MARKETING PLAN

Marketing Plan of ICT Limited



[Name of the Institute]Marketing Plan of ICT Limited

Introduction to Company

ICT operates in Information Technology industry as a provider of solutions pertaining to complicated problems and issues realized by small and medium sized companies and moderate and larger businesses. With increasing market share and immense growth ICT has successfully formed partnership with the leading market players of the industry such as Dell, Microsoft, HP, and Cisco. Together they are all aimed at provision of full end to end resolutions to the customers. The ICT Limited was originally founded in 1990s in United Kingdom. The company has expanded its business in Midlands, Birmingham, Telford, Shropshire and Mid Wales (www.ukictltd.com, 2012, n.d.). ICT Limited launched a brand new and innovative product of Tablet in 2011 for which the Marketing Plan has been designed and described in the later sections of this paper.

Section 1: Segmenting, Targeting and Positioning

1.1:Elements of Marketing

The process of marketing involves numerous activities such as designing product, setting price, designing strategies, advertising, and many more. These are on going activities of marketing process but there are certain elements of marketing that play a vital role in the success of a business and are considered as the most important factors of marketing. These elements include research, strategy, planning, and tactics. Market research is an important element in order to identify the target market and need of the product. This step requires determination of market, and required positioning to reach to the target market. After analyzing the market, its demands, inclusive of strengths and weaknesses. A business must design an adequate strategy to compete in industry. This step also requires setting goals and clarifying mission and vision of the product or business. On the basis of above analysis, a marketing plan is formed which is comprised of sales estimation, financial planning, communication techniques, Product and distribution plans. Tactics refer to the smart short term plans to achieve growth in sales or attracting majority of customers in a short spam of time by offering products in form of a package that one can hardly resist (Bhasin, H., 2012, n.d.).

Marketing mix is another powerful tool of marketing that helps in achieving main objective of marketing process. The marketing mix is comprised of product, price, promotion and place. The product that is being offered by ICT Limited is range of customized technological solutions and particularly latest creation of Tablet. The price is set on the basis of market trends and worth of technology involved in the production and design of the product. However, there are certain cases where company fixes the price on the basis of negotiations with clients as well but it also incorporates the effect of economic factors and manufacturing cost and tries to determine price at a competitive level. The promotion strategy of the company mainly revolves around means of Internet and related activities. However, it also conducts workshops and presentations to demonstrate use of its technology and promote accordingly. The company has both physical and virtual presence ...