FINAL PLAN Marketing 1 guns

Table of Contents

Marketing Plan for: Benefit Medical ApparelSubmitted by: Gundeep KaurSubmitted to: E. Van dykContents TOC o “1-3” h z u Marketing Plan for: Benefit Medical Apparel PAGEREF _Toc6428262 h 1Executive Summary: PAGEREF _Toc6428263 h 4Mission: PAGEREF _Toc6428264 h 4Company Description: PAGEREF _Toc6428265 h 4Strategic Focus and Plan: PAGEREF _Toc6428266 h 5Core Values: PAGEREF _Toc6428267 h 5Mission/Vision PAGEREF _Toc6428268 h 5Mission: PAGEREF _Toc6428269 h 5Non-Financial Objectives: PAGEREF _Toc6428270 h 5Financial Objectives: PAGEREF _Toc6428271 h 5Core Competency and Sustainable Competitive Advantage: PAGEREF _Toc6428272 h 5Situation Analysis: PAGEREF _Toc6428273 h 6Swot Analysis: PAGEREF _Toc6428274 h 6External Opportunities and Threats: PAGEREF _Toc6428275 h 6Industry Analysis: PAGEREF _Toc6428276 h 6Competitive Analysis: PAGEREF _Toc6428277 h 7Customer Analysis: PAGEREF _Toc6428278 h 7Market Product Focus: PAGEREF _Toc6428279 h 7Marketing and Product Objectives: PAGEREF _Toc6428280 h 7One Year marketing objective: PAGEREF _Toc6428281 h 7Five Year marketing objective: PAGEREF _Toc6428282 h 7Target Market: PAGEREF _Toc6428283 h 7Points of Difference: PAGEREF _Toc6428284 h 7Positioning: PAGEREF _Toc6428285 h 8Marketing Program: PAGEREF _Toc6428286 h 8Product Strategy: PAGEREF _Toc6428287 h 8Price Strategy: PAGEREF _Toc6428288 h 8Promotion Strategy: PAGEREF _Toc6428289 h 9Place (distribution) Strategy: PAGEREF _Toc6428290 h 9Financial Data and Projection: PAGEREF _Toc6428291 h 10Past Sales Revenues: PAGEREF _Toc6428292 h 10Five-Year Projection: PAGEREF _Toc6428293 h 10Organization: PAGEREF _Toc6428294 h 10Implementation Plan: PAGEREF _Toc6428295 h 10Evaluation and Control: PAGEREF _Toc6428296 h 10Executive Summary:The name of the company is “Benefit Medical Apparel”. James Reynolds is the cofounder of this company. He got the idea from the “athletically engineered medical apparel” when he worked in a pharmacy. The Benefit Medical Apparel provides the medical world a comfort of an athletic fit scrubs to promote healthy lifestyle. Their scrubs give a new look for those healthcare professionals who allows wear a uniform in the workplace with confidence. Their scrubs are of higher quality that are stretchy, breathable and more functionable as well as wrinkle free. They use many social networking sites for the promotion of their products such as their biggest platform is Facebook. Mission: Revolutionize the medical industry by developing comfortable scrubs for them.Target market:Healthcare professionals from 18-36.Company Description: The Benefit Medical Apparel is a Veteran Owned and Operated company which sells athletic fit scrubs to promote healthy lifestyle to healthcare professionals. It was originally comprised of three founders James Reynolds, Dylan Crolin and Justin Culver. They are all Oklahoma natives and they work in U.S Airforce Veterans. Before the Benefit Medical Apparel, they were just three regular guys who had a passion for creating something better for hardworking healthcare. Then they officially launched the Benefit Medical Apparel in May 2016.Basically, Benefit Medical Apparel is medical scrubs for like nurses, doctors and any type of health care professionals. But rather than boxy, boggy traditional looking scrub. They are more of like an athletic fit, performance four way stretch fabric. So, they are more breathable, more functionable and moveable and just overall higher quality uniforms.Strategic Focus and Plan:Core Values: An organisation’s core values are the fundamental, passionate, and enduring principles that guide its conduct over time. The core values of the Benefit Medical Apparel are customers satisfaction by providing them affordable and good quality stuff so that they feel comfortable and confidence while wearing them.Mission/VisionMission:The main mission of the Benefit Medical Apparel is to reshape the medical industry by developing scrubs which provide healthcare professionals comfort and confidence while promoting a healthy lifestyle.Non-Financial Objectives:They develop new products for the customers who enjoy diet and fitness lifestyle. Secondly, they focus to improve customer satisfaction with their customer services. Financial Objectives: The want to increase the product line by promoting healthier lifestyles for healthcare professionals. Core Competency and Sustainable Competitive Advantage:The first core competency of the Benefit Medical Apparel is that it is E-commerce. They promote their clothes on many websites so that people can easily order them by sitting at home. The second one is its customer service. Nowadays, they offer notch customer service to those customers who are confused with size and style of the product.Situation Analysis:This part plays a very important role in the market plan.Swot Analysis:Internal Factors Strengths WeaknessesManagement Experienced management Don’t have as much capital as compared to their competitorsOffering Stylish and comfortable fabric which adjusts to all body types People want to try clothes on before they buyMarketing Maximum promotion on social media Competitors stealing ad copy, word to word External Opportunities and Threats:External Factors Opportunities ThreatsCustomers It provides good stuff and quality They want to try first before purchasingCompetitors Use breathable, moisture and wrinkle free stuff Competitors using the same stuffTechnology Use different technological instruments Any technical issue stops their workIndustry Analysis: The Benefit Medical is a local company based out of Owasso, Oklahoma. It is Veteran Owned and Operated medical apparel organisation. Their scrubs started a healthcare revolution so that they are the first scrub company who offers a well performing, more comfortable and better set of fitting set of scrubs. They are currently the fastest growing scrub company in the world due to the larger presence on the social media than all their competitors.Competitive Analysis:Their competitors are the other scrub companies in the market such as Blue Sky, Urbane and Fashion Nova etc. They are also providing the same variety of scrubs as well as they are using the same stuff, stealing ad copy word to word.Customer Analysis: Their number one customer are the females from ages 18 to 24. Another high portion from 25 to 36 and their 90% customers between the ages 18 to 36.Market Product Focus:Marketing and Product Objectives: The marketing system of Benefit Medical Apparel is very simple. They are 100% digital media. Their biggest platform for promotion is Facebook. They also have pages on other websites such as on Instagram, twitter and have a YouTube channel. They are also looking to launch podcast as well as digital magazine so that they promote their products for those who enjoy the healthy lifestyle. They should organize the events at different places like yoga events and other healthy events for those who are unable to follow the healthy lifestyle because of their busy schedule. They are not keen on Twitter but must pay attention on very website.One Year marketing objective: They plan to increase their product line in the upcoming years. So that they promote their products not only among the youngsters but also for kids.Five Year marketing objective:They don’t have as much capital as a larger company and some of their competitors have so their five-year plan is to make their capital strong. Target Market:Their target market are those people who enjoy diet and fitness lifestyle. They also target healthcare professionals who are between 18-36. They want to promote scrubs on daily basis not only for the work. Points of Difference:The Benefit Medical Apparel is a kind of scrub company who promotes stylish and comfortable fabric which adjusts to all body types and allows maximum maneuverability which is very different from other brands. They are athletic fit, and four way stretch stuff, liquid resistance, more functionable and breathable, moisture wicking and wrinkle free fabric.Positioning:The Benefit Medical is the first company who offers well performing and more comfortable scrubs. They are the fastest growing scrub company in the world which promote healthier lifestyles for healthcare professionals. Benefit is more than just a brand, it is a lifestyle.Marketing Program:The market program includes some specific actions for each part of the marketing plan. Everything that has gone before in the market plan sets the stage for the market mix actions which covers the four parts like product, price, promotion and place (distribution) strategies.Product Strategy: The Benefit Medical Apparel introduce their new products in the market which promote the healthy lifestyle, diet and comfort availability of customers. But we know that the females are more like to do shopping so that they focus to introduce the new stuff for them to increase their sales. The items like jackets for both the sexes, introduce children scrubs as well as long sleeves t-shirts. They also allow the customers who want to try their clothes before they buy. So, they can remove their doubt related to quality and size of the product. Price Strategy:The Benefit Medical gives discounts on many items as well as they also offer three combos in order to increase their product line.The comparison between the Benefit Medical Scrubs, Blue Sky and Fashion Nova.Products Benefit Medical Scrubs Blue Sky Fashion NovaPants $31.99 $27.00 $42.98Women scrub top $29.99-$34.99 $44.00 $38.99Men’s top $29.99-$34.99 $42.00 $ 54.60Promotion Strategy: They should promote the products in the following ways: Organizing events: The should promote their new products on the special events such as on yoga day, Family day and athletic events. They also give them a chance to touch the stuff and allow them to try before they buy so that they can trust on them.Physical Advertisements:No doubt, they are 100% digital media as well as they have many pages on different sites, but they also do physical promotion like place banners in the big cities as well as do promotion in big malls from where people know about their products.Partnership with other shopping sites: They promote their products on many sites such as Facebook, Twitter, and YouTube but also do partnership with other famous sites such as Amazon which is very popular among all the ages so they should try to promote their products on such sites in order to increase the customers and sales.Free shipping:They should try to do home deliveries free and give the fast service to the customers.Place (distribution) Strategy:They should open the local stores in the big cities and place banners there in order to increase the product line. They also develop partnership with the other big countries such as Amazon which is very popular these days. They should organize the events where they give chance to those customers who want to try their products such as in hospitals, gym centres and Yoga Centres. Financial Data and Projection:Past Sales Revenues:They didn’t give any source related with their past sales, but the main aim of the Benefit Medical Apparel is to promote the healthy lifestyle among the customers with bringing different scrubs in the market.Five-Year Projection:They promote their products in the international markets as well as they also raised their capital in the future because their capital is zero as compared their competitors. So, they bring the new stuff in the market in order to increase their sales.Organization:James Reynolds and Justine both are the main heads of the company. So, they handle all the responsibilities related with the promotions and take decisions about the quality and quantity of the products. And Aaron manage the budget finances. He handles the budget related with different activities like discounts and coupons, gift cards as well as how much budget needed for advertisements.Implementation Plan:They have a plan to launch a podcast as well as launch a digital magazine for the promotion of their new products. They must set the budget for online deliveries, advertisements and for other activities which they done for the promotion of their business.Evaluation and Control: No doubt, this is very famous because of their scrubs but they also have some weaknesses on which they must focus so that they increase their future sales they also need a budget plan for the promotion of their upcoming items in the market and other activities.