Running head: FINAL MARKETING PLAN

Final Marketing Plan Rose Braggs, Vicki Gould, Carrie Preisinger, Niqua Wilbon MKT 421 September 30, 2013 Doug Schwartz

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Final Marketing Plan Introduction A final marketing plan is part of an overall business plan; moreover, an effective marketing strategy is the foundation of a well-written marketing plan according to an online research. To ensure the effectiveness of the plan, a solid strategic base is required. For example, without proper planning, the chances of developing a strong plan are less likely to (Rubinson, J., 2009) point out that In terms of specific marketing objectives, the evidence suggests that the impact of TV on sales lift appears to operate primarily by generating brand awareness, suggesting that an effective marketing plan that uses TV should do so in conjunction with multiple forms of marketing in order to impact all stages of the consumer purchase process (p. 20). This paper is aimed to describe the necessary process to develop a final marketing plan for Team C new product, the White Chocolate Delight. Phase I A Description of the New Product or Service With individuals moving towards eating healthy and losing weight Nestle decided to manufacture a snack bar to compete with companies such as SlimFast and Weight Watchers. The initial snack bar will be a Cherry Cheesecake with White Chocolate. The ingredients will consist of low-fat cream cheese, low-fat sour cream, low-fat milk, fat-free small curd cottage cheese, fatfree cream cheese, granulated sugar, grated lemon peel and fresh lemon juice, egg substitute, cherries, and white chocolate. This new bar will contain 20-25 mg of protein to give the individual the feeling of being full longer and provide energy for several hours. The bar will contain only about 10 grams of sugar so that it is healthier for the consumer. Other ingredients

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the bar will contain will be vitamins B6, B12, C, and E. Other nutritional values the bar will contain are iron, calcium, copper, chromium, phosphorous, and magnesium. These ingredients will ensure a great taste, a low calorie count, and nutritional values for those individuals who want to stay healthy but also be able to enjoy a sweet snack occasionally. This new product will help Nestle to enter into the market of healthy products and open new doors for other new products as well. Importance of Marketing Marketing is important to the success of a business because it produces the sales and leads to happy customers. If done correctly the marketing for Nestls new protein bar will help them to get a foot in on a new line for the company. Since production and distribution relies heavily on marketing the marketing staff must determine which target group they want to achieve. With the new line of protein bars Nestle will be targeting the more health centered groups and those who are overweight and want to change. Marketing will target the needs of these groups to ensure they return again and again. Once a target group is acquired the marketing team searches for was to keep them happy whether it be adding new products to the line or keeping the cost in a range where the product is achievable. The company must use as many avenues that are available to get the word out to the consumer of the new line of products it is coming out with. In previous years this consisted of the television, radio, and newspapers. With the new technology that is available such as the internet another billion or so individuals are able to be reached and informed.

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S.W.O.T Analysis
When organizations consider introducing new products to the market, an SWOT analysis is the best way to identify how the new product will hold up against competitors in today's business society. If Nestle considers creating a new healthy chocolate bar (cherry cheesecake), they would have to weigh the advantages and disadvantages per organizations that already sell nutritional supplemental bars, such as Special K, BOOST, SlimFast, and Weight Watchers. A strength Nestles new health bar would create would be an increase in customers, coverage, and sales. With the new health bar, Nestle would be opening up its company to new competitive advantages outside of co-selling its health bar with BOOST. So the obvious weakness would be if BOOST feels as if Nestle is attempting to sabotage their current product with them and the companies clash. Making decisions would become considerable harder because the company would have to take another company's ideas into consideration. Nestle would have an amplified growth opportunity economically and organization efficiency for product execution, especially if the product is marketed well. When introducing new products to the market through direct marketing instead of with another company, financial investment costs are reduced because discounts are greater the larger the purchase amount. This also allows the opportunity for interest rate offers to become lower. Nestle will have an opportunity to learn from other nutritional competitors and grow producing more jobs for those who seek employment. Therefore, the weaknesses become obvious. What if BOOST finds an ample amount of disagreeable entities that cause conflict since they already advertise a healthy bar through Nestle, working together to come to a common ground on how to handle specific situations as they arise can often become a difficult, and, in some cases, an irresolvable task.

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Marketing Research Approach The marketing research approach used to develop the marketing strategy and tactics for this new product is finding the market. For example, will conduct research to better determine what market that poses fewer competitors; in addition, will find several large and fast growing markets and evaluate them over the past few years to see how they did when times were good and in bad times. Next, the targeted markets should be assessed to show the consumption and production of the product. Determine what factors that could affect the market. For example, how will the product be distributed or what is the business practice. Make sure that the price of the product is competitive after all the expense has been factored in such as packaging, shipping, commissions, taxes, etc. Phase II Identify the Segmentation Criteria that will affect Your Target Market Selection. According to an online research, Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers, who have common needs, and then designing and implementing strategies to target their needs. Cano, L., Morejn, V., & Sandoval, E. (2013), mentions that Every time the markets are more fragmented and market segmentation has a role in marketing strategies, is a tool that brings together both individuals and organizations, help to define more precisely the needs and desires of customers, to take decisions, to define more precisely the objectives of marketing and to allocate resources. Market segments tool help companies to create different product strategies to put on each one of them. The following criteria will affect the target market selection; more important, the market

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segments must be considered to effectively develop a strategic marketing plan for the new product according to wikipedia.org/wiki/Market_segmentation It is possible to measure. It must be large enough to earn profit. It must be stable enough that it does not vanish after some time. It is possible to reach potential customers via the organization's promotion and distribution channel. It is internally homogeneous (potential customers in the same segment prefer the same product qualities). It is externally heterogeneous, that is, potential customers from different segments have different quality preferences. It responds consistently to a given market stimulus. It can be reached by market intervention in a cost-effective manner. It is useful in deciding on the marketing mix.

Identify your Target Market. Organizations that use sales tactics and promotions to attract the attention of certain group demographics of people are targeting their market. These are the potential customers that are expected to have a specified need or want for the product or service advertised. Introducing a new nutritional health chocolate bar to the nestle brand will open the market up to those who work out daily, weight losers, and health fanatics who just want to spice up their diet. To be more specific, the market we want to target would be middle aged, working class, family oriented adults who are either over weight, watching their weight, or keeping healthy with good

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snack choices in between meals. Targeting this group dynamic will ensure the stability of profit gain. Middle-aged adults are able to make educated life choices outside of parental guidance with the ability to sustain them. Working class adults tend to be consistent buyers of products they need or want in their life. Family oriented adults attempt, more often than not, to make wise choices for their families when it comes to food consumption. Therefore, this demographic of consumers will be where Nestle will place its efforts towards merchandise purchase. Organizational Buyers There are two categories that exist, the buyers market and consumers market. The business market consists of items for sale for production or resale to individuals for a profit. The consumers market consists of items for purchase for private use. Cultural, social, personal and psychological are the main four types of behaviors that influence consumers to make purchases. Team C has a marketing strategy that will utilize the content marketing strategy. Our strategy will allow the showcase why consumers will want to purchase the chocolate cherry cheesecake bar that Nestle offers. We are aiming to mass produce our market the business market in which can be sold in stores or grocery chains. We also want to influence consumers to purchase our product as they have heard about it with effective marketing strategies within the radio, television commercials, and advertising. Content marketing is a marketing technique of creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience with the objective of driving profitable customer action. According to "What Is Content Marketing" (2013)

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We are planning on enticing the consumers behavior with an ongoing process of valuable content focusing on media. Team C will establish challenging goals in which will use the marketing mix to allocate funds which will be used for during our marketing strategy. With our plan we are delivering intelligent communication to consumers in a way they will want to listen. We also would like to market our products in specialty stores that allow for sampling. This way when consumers are able to try something it allows their taste buds to decide this is something worth spending their money on. Marketing is getting out in the field and putting your product out there so people know the name and what the product looks like. Content marketing will allow Team C embrace the ideas through the media. Current Competitors and the Competitive Landscape Entering into this new line of products Nestle will need to research companies which are in the same line of business to see what type of merchandising, pricing, and the environment they will be interested in continuing forward. The marketing team for Nestle will have to analyze the competitors to get the appropriate information for the company to carry forward. The analysis will tell Nestle how the competitors will react to having another competitor as well as showing their strengths and weaknesses. The current competitors for the new Nestle protein bar would be companies such as SlimFast, Special K, and Nature Valley. The new White Cherry Delight will be closely in competition with Special K and Nature Valleys bars as it will bring the fruit aspect of the product into focus. However it will throw into the mix the sweetness of the cheesecake for those who want more of a snack bar that is healthier than other bars. As with any new product, Nestle will find many barriers they must face before they can fully call the launch a success. One of these barriers is the financial strain that the

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economy is in. Nestle must appeal to the target group that is more healthy conscientious to establish a customer base. They must also look to those who want to be healthy so bring in another group that may stay with them through their journey of losing weight. Another barrier that Nestle will have to combat is the overwhelming number of protein bars that are already on the market. Nestle must find new ways of advertising the new protein bar so to attract the consumer from their competition. Advertising and promotions is a couple of ways in which this can be done. The company believes that having the Nestle name on the product will help this process as they are well known for their chocolate which will give them the upper hand on taste. The Attributes The Nestle White Cherry Delight bar has several attributes that encourages consumers to buy it. First, the new product made with some of the finest organic ingredients which add high nutritional value. For example, soy milk is one ingredient used that contains D and A vitamins; more important, one bar offers a full daily allowance of those vitamins. Another attribute is, the bar is 2 ounces in weight as some consumers are concerned with exact measurements when planning their meals. The new cheesecake bar is created to enjoy as a candy bar, snack bar, or desert while the nutritional value remains the same. The new created cheesecake bar is individually wrapped and package in a box of 6 which make it convenient for serving; in addition to making an excellent part of for children school lunches or perfect for a quick snack at work, the bars may also be sold separately. So, when consumers have a taste for white chocolate or cheesecake, they now can enjoy Nestls White Cherry Delight; moreover, they will know that it is delicious and nutritious.

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Product Life Cycle The product life cycle has four sections; introduction, growth, maturity and decline all of which can affect our product. In the introduction phase we want to make sure to highly promote the Nestls White Cherry Delight bar. The introduction phase typically lasts a week to three weeks. If the public arent aware of our product then it may not be successful as they wont know about it. We would use the skimming strategy in which we have lower prices in the beginning and we would gradually raise the cost. The skimming strategy would be beneficial as there are several competitors who are constantly offering new sweet products, and Nestle isnt interested in the profit but getting the products name out in the market. The growth stage is where we see our product mature and grow. At this point we would be concentrating on marketing and advertising our White Cherry Delight bar. Nestle has several competitors, we would need to explain why our product is not only healthy but delicious compared to the other products on the market. Team C would put a bulk of our advertising funds into television, radio and magazine ads to have consumers purchase our product. We would want to utilize the growth stage for one to two months. At this point in the life cycle we should be aware if our product is leaving the shelves, if it is then we would be raising the price to start bringing in a profit. During the maturity phase our sales should have grown very fast and then stabilized. We must stay on top of advertising and getting our products name out in the industry so consumers are willing to purchase it. Team C cant afford to lose all of our hard work so we must differentiate our product from the others on the market, allowing consumers options but also enticing them with the nutritional elements. Understanding our product and how the life cycle

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works we would want to hold onto the maturity phase as long as possible with that being three to six months, but if the sales are declining then we would quickly move on the final phase. The final phase is where our products sales have started to decline. They decline due to the consumers looking for a new innovative product or everyone has already purchase our product. To make sure and not lose any profits we would want to pull the product as soon as a decline is noticed, having stopped all advertising, promotions and sales within two weeks. Positioning and Differentiation Strategies According to Perreault, Cannon, & McCarthy Basic Marketing: A Marketing Strategy Planning Approach, Positioning refers to how customers think about proposed or present brands in a market and Differentiating the marketing mix to do a better job meeting customers need, the firm builds a competitive advantage (2011, p. 110). If Nestles management wants to keep up with competition and customer satisfaction, one key effort would be to consider positioning and differentiation strategies for the new White Cherry Delight Nutritional Bar. Positioning Nestles chocolate bar would mean setting the bar up to have certain attributes and ingredients that consist of fewer calories than the others on the current market. This product would have to appeal to health fanatics and those who are dieting that would seek out healthy and tasteful snacks. Differentiating Nestles chocolate bar would mean offering a delicious nutritional product at a lower price with the same, if not better, quality than the competition. This product needs to be set alongside all other nutritional health bars with distinct and attractive packaging that upholds the Nestle brand. Nestle, itself, is known for quality products, so people will be drawn to their new bar automatically. When marketing the chocolate bar to the public, Nestle should offer an incentive with the product, such as a well-known shake to pair with it as a two

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for one deal. This will entice customers to purchase the bar because they already are buyers of the shake. Appropriate Price Strategy One of the most difficult and important aspects of developing a new product is deciding how much to charge for the product. The price that is put on the product will support the production and delivery of the product. Pricing it too high or too low could mean the loss of sales. There are several pricing strategies that Nestle can use to determine the price of the new protein bar. They are penetration pricing, optional pricing, premium pricing, value pricing, value pricing, bundle pricing, and skimming pricing. The pricing strategy that will best fit Nestle will be the value pricing strategy. In this strategy Nestle will compare the value of what the protein bar offers the consumer compared to that of its competitors. Then they will determine if they want to price the new protein bar lower, the same, or a little higher than that of its competitors. Another option that would be beneficial is the penetration pricing strategy which can be used in the beginning to get the attention of the consumer. According to Marketing Teacher this is when the price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased. To keep in competition with the competitors the price would then be set at a price that would ensure profit and keep the consumer buying their protein bar as well. Launching a new product is never an easy task and just because your company or brand is well-known does not mean others will automatically buy into it. Strategically planning how well the product should be marketed takes careful thought as to how management should convey the product details and services, pricing details and setting the product apart from the competition,

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and consideration of the flow of the product from one stage of the product life cycle to the next. All of these tasks must be completed with the customer and demographics of who you want to target in the marketing mix in mind. Although, this is not an easy task it has been done successfully many times over for Nestle. All of these components put together will ensure Nestles new White Cherry Delight Nutritional Bar success. Identify the appropriate place and promotional strategy that should be used in developing the strategic marketing plan. When developing the marketing plan for the White Cherry Delight protein bar Nestle must identify the appropriate promotional strategy and place. Nestle must consider both internal and external factors, if the consumer believes that their specific need of a protein bar is being met they will not only buy the product but will continue to purchase it as well. Nestle must also consider consumers who may be out of the target group and how they will attract them. Nestle could promote that it is not only healthy but is a good snack as well. The Chocolate Cherry Delight would be easy to just grab and go, making it a convenient and nutritional snack to tide them over until the next meal. Nestle must keep their competition in mind when marketing the new protein bar emphasis can be made on the nutritional value and the uniqueness of the ingredients. Using public relations Nestle can appeal to the healthy individuals by giving samples at marathons or community gatherings. They could also use local papers to announce the arrival of the new protein bar to the local area and what store it would be available in. Giving samples would help the consumer to determine if they like the bar. Develop an Initial Sales Promotion Schedule

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Online research defines sales promotions as initiatives that an organization decides to implement, to promote and increase sales, product usage or to shine a light on a new product or service. For example, the development of this sales promotion schedule is to bring focus on the White Chocolate Delight bar created by Team C. Guidelines for the initial schedule have been established for the promotion. First, the marketing manager has set detailed objectives as a guide throughout the promotional campaign. Knowing the objectives will aid in determining what type of advertising may be the most effective. The course text mentions three basic types of product advertising such as pioneering, competitive (direct and indirect), and reminder. For the new product, the competitive type of advertising will be used. This determination was made because Quaker has a product that is slightly similar to the White Chocolate Delight bar. Also, the internet offers different ways to advertise so a specific one had to be chosen to help in the success of the campaign. A timeline is set for November 3, 2014, for the initial sales promotion schedule to launch. This date provided enough time for Team C to put the promotion together and develop an effective advertising plan. A budget for the initial sales promotion schedule was established which included costs for developing the advertising plan, creating collateral materials and advertisements; moreover, funds for buying time (television or radio) and placing ads with the media outlets. For example, funds are allocated in the budget to place ads the Sunday papers if desired. However, many consumers purchase the paper to take advantage of the manufacture coupons; thus, the ad will reach a plethora of readers.

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The markets to be targeted during initial promotion are residential because the new product may be enjoyed by the household adults as well as the children. According to the (2004), Journal of Business & Finance Librarianship, In the marketing mix established by the "Four Ps of Marketing (product, price, place, promotion), sales relates both to Place (the how and where of the physical distribution of goods, expressed in terms of wholesale and retail) and to Promotion (sales incentives and promotions, trade shows) (p. 205). There is flexibility in the schedule just in case the ad does better in the papers than on the radio or vice versa. For example, whichever source is most effective; the ad may be pulled for the other. An advertising plan was developed with a focus on messaging and branding. A recommendation for an online source is to write copy, graphically design print and web ads and produce video commercials. In addition to having the option to create the entire plan at once or develop and unveil the plan step-by-step provides a sense of ease which reduces stress. Team C will launch advertising plan according to the initial sales promotion schedule timeline. A tracking system will be use to help determine how solid advertising plan is. Collected data will be used to revise the plan if need be because the message is intended to reach the target consumers in a clear, concise, and complete fashion. Kornman, H. (2004), mentions that Growth depends on continued planning: preparing and regularly revising sales forecasts, committing to a clear editorial schedule for 18 months out--ensuring a steady product stream to market--and of course, having a reasonable promotion budget (p.24). Create an Advertising Plan When creating an advertising plan for the White Cherry Delight nutritional bar for Nestle, marketing managers must consider many factors of the type of consumer its targeting. The

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target market should include young adult to upper middle aged workers who value a great nutritional snack at a reasonable price. Nestle also want to attract athletes and physical trainers with their advertising campaign. To do so, first the new White Cherry Delight must have packaging that stands out among the rest of the health bars on the shelf of all of the major grocery stores, such as Jewels, Wal-Mart Supercenters, Dominicks, Meijers, and GNC. These stores will offer the product along with an already well known shake thats has a coupon for a percentage off the next buy of the White Cherry Delight on its own. The new bar will be advertised in the online and weekly sales ads and deals of the week catalogs outside of the instore advertising ideas. Inside the stores will be Nestle representatives dressed in formal work out attire offering samples of the bar to shoppers who are potential buyers. The new White Cherry Delight bar will be placed on end caps of store shelves with signage detailing interesting facts about the product with a sales promotion as well. Advertising new products inside the store is always less cost wise than advertising outside of the store. Therefore majority of the products introduction will take place at various store locations. Visibility of the product is key because customers do not know about the product, so a Push advertising strategy is necessary to draw the buyers to the White Cherry Delight. Being inside the stores interacting with the customers doing presentations of the item along with a small bite and signage will increase the possibility of consumer enticement and retention of those who have fallen back from purchasing Nestle health products. Public Relations Opportunities Public Relations opportunities always arise when new products hit the scene for any brands marketing department. This give the company a reason have business parties with focus

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on the new products launch and media based informationals that highlight the new and upcoming business goal. Conducting business parties gives Nestle the chance to gain real feedback from a relaxed crowd of colleagues and outsiders who will become potential buyers and/or suppliers of the new White Cherry Delight. This also gives Nestle the opportunity to keep their name out there and talked about in a positive way via word or mouth. At these parties the product would be displayed at is best enticing the eyes of all in attendance and drawing small and large business owners in to schedule meetings with marketing managers to discuss selling the product in their stores. The new White Cherry Delight also gives Nestle the opportunity to do press releases, articles, speaking seminars and conferences. Nestle will have a chance to freshen up its branding approach and retarget its original customers appeal to a new product for them to purchase. Online media will also be an opportunity for Nestles marketers to gain feedback and interact with online consumers on a personal level. This will, in turn, give the business more ideas or innovative ways to either add to the product, change the product, or leave it as is to increase sales and satisfy customers. New product launches always give businesses an opportunity to relate to the public and resurface with a boom. Channel Management Decisions The use of channel management decisions is one of the biggest trends that business use at this time. These strategies are more complicated than most think because they deal with essential processes that are vital to the success of a channel. They are the most decisions that managers have to make because the influence all other decisions in the channel. There are six fundamental distribution decisions. 1. Determining the role of distribution in the companys overall goals and strategies.

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2. Discerning the role of distribution in the marketing mix. 3. Knowing how marketing channels should be designed to effectively achieve distribution objectives. 4. Identifying the type of channel members to be selected to meet distribution objectives.

5. Establishing how to manage the channel to effectively and efficiently implement the channel design. 6. Finalizing how every partners performance will be evaluated (Maria Lopez, 2013). Making channel design decisions is the most comprehensive of the six strategies. Nestle will use this to develop new marketing channels for the White Cherry Delight where none have existed previously. They will also cover the modification of existing channels to fit their new product. Through critical assessment and analysis the resulting decisions contribute to the improvement of the marketing of the new product which leads to increased productivity and greater profitability.

Appropriate Distribution Channels and Costs in Terms of Placement, Shipping, and Middlemen Place Nestle White Cherry Delight will be manufactured in the Nestle plants but distributed to stores across the world. As Nestle will have their products in various grocery and chain markets there is no way to maintain the display for daily exposure. In the beginning we will pay a premium price to specialty stores for the New White Cherry Delight Bar to have entrance exposure, we will provide a cardboard case to keep our bars in securely. As our product is not a

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store brand Nestle will ensure that a fresh stock is available for delivery every two weeks, delivering over 4 cases at a time. Promotion Nestle would like to target the organic health stores with consumers ranging in all ages and base incomes from $35,000- $80,000. Within this range we will see anyone from young adults, parents to health conscious middle aged consumers looking for a product that will satisfy their sweet tooth while maintaining the appropriate calories and glycemic index they are searching for. Our plan is to advertise within the local neighborhood. We would utilize the television, radio, print, and outdoor media for advertising. Our advertising budget should be anywhere from 5%-15% of our total budget to get consumers into the store wanting to purchase our product. Because we are a new product we plan on spending 15% to get our name out there. We would like to be successful in order to accomplish this we will produce brand awareness, thus increasing sales. The best way to check to see if our advertising was a success is to determine if our sales goals were met during the fiscal year. To meet our sales goals we must stay current with circulation and the latest ratings to ensure our advertisements are reaching our demographics. We plan on advertising through the radio, newspapers, television commercials, and outdoor billboards. Within the radio we can describe the product and the target areas of availability for purchase. With the print aspect of advertising such as newspapers and billboards we would ensure to have a health conscious individual enjoying our product. In the newspaper circulars providing a coupon for 25 cents off may help consumers try the new White Cherry

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Delight at a discounted price. With television commercials we could go more in depth of the organic and nutrients added to make it a better option compared to our competition. Public relations Another route Nestle will take in public relations is online advertising. Our website will always have coupons that the customers can print out and use in the store. We will have ads on popular web services such as Facebook, Twitter, and Instagram. These are websites used by most people on a regular basis and by advertising on them; it will be a definitive way to get the new service advertised. To continue a good name for the company, Nestle will sponsor 5k events in local cities providing free samples. These events will be advertising and good public relations mixed together. The advantage of sponsoring events, especially in the case of a grocery store, is that we can supply our own products to advertise/sponsor the event.

Budget Nestle has been in the candy industry for over 140 years, deciding just recently to expand their organic healthy chocolate options. Consumers are well aware of Nestles brands such as the Crunch bar, Butterfinger, Baby Ruth and Power Bars. Due to the fact Nestle is globally known for candy and other products, setting up a proper distribution channel was quite easy. The White Cherry Delight bar will be manufactured in the Nestle Switzerland plant where the chocolate industry has thrived for numerous years. Our initial costs consist of labor, supplies, products, and location will 13584.00 Swiss Franc or $15,000 US dollars. We will work with the current

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vendors Switzerland offers in order to obtain our products, if needed we can outsource if the new products needed are less expensive. The White Cherry Delight will be a successful attribute to the Nestle family as it brings a new organic, healthy choice consumers have been searching for.

Three Year Projection

The White Cherry Delight Bar
2014 Sales $ Mfg & Distribution Costs $ Gross Profit $ Dollars 250,000.00 180,000.00 70,000.00 Percentage 100% 72% 28% $ $ $ 2015 Dollars 275,000.00 86,000.00 189,000.00 Percentages 100% 31% 68.72% $ $ $ 2016 Dollars 285,000.00 80,000.00 205,000.00 Percentages 100 28.07 71.93

Quantifiable Elements The marketing plan of a new product is a crucial part of getting the product out to the consumer, without evaluation and monitoring the plan can become an expensive waste of time and finances. The most successful marketing plans are always changing to meet the needs of the customers and reacting to the competitors strategies. By establishing goals Nestle can analyze the quantifiable elements to evaluate, monitor, and control the marketing plan. Putting quantifiable goals into place that must be met in a certain time frame gives Nestle context in which to know if the marketing campaigns are giving enough lead or sales. Using these results Nestle can decide if the marketing plan should be adjusted or not. The first and easiest way to measure if the marketing plan is successful is to track the profits of the product. Tracking the profits before the launch of the White Cherry Delight, during the time the White Cherry Delight is in circulation, and the following six months Nestle will be able to see the delayed response time and get the exact numbers that are needed.

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Installing a tracking code onto the Nestle website before the launch of the White Cherry Delight will let Nestle know the number of visitors and follow the websites that they use. This will let us track the number of people that are responding in specific areas and cities. This will give us an idea on what areas we may need to concentrate on more. Another element to analyze is the sales leads. The marketing team must monitor the number of qualified leads that come in response to the marketing effort. They should also track the unqualified leads as they may find that the marketing campaign is misleading the customers and causing the wrong types to call with inquiries. By obtaining sales lead numbers the marketing team can refine the campaign so that it reaches the target group that was wanted. Audience responses are obtained through surveys. To get quantifiable results the surveys must be designed by using yes or no questions and it should have a clear purpose. From these results the marketing team will know if the product is what the consumer wants and the price is right. According to Small Business Chron there are seven steps to follow to analyzing the elements. Step one is to set quantifiable goals for your marketing plan. Step two is to create new marketing campaigns or tweak existing ones to help you reach the goals you set in the marketing plan. Step three is to review last year's sales records so you have something to which to compare this year's sales. Step four is to set metrics for tracking the direct impact of each campaign on its ability to help you reach your marketing goals. Common metrics include number of clickthrough on an online ad, number of new sales, number of new leads or percent increase in traffic to the store. Step five is to analyze the results of each campaign based on your metrics. Determine whether the campaign brought in more profit than it cost to run. Step six is to

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determine how many more times you need to repeat them to meet your goals. Be flexible and understand that sometimes you may need to run a campaign longer than you have in the past because competition for customer attention is high and step seven is to repeat the goals until they are all met. Conclusion With proper marketing and advertising the White Cherry Delight will be a product in which will be a constant on stores shelves for many years. The best way for Nestle to determine whether or not marketing is working is to look at the sales and the return on investment. Every business tracks what they spend in marketing and what their total sales are. To determine if the marketing is working, they need to determine the ratio between marketing and sales increases. A good way to do this is to have a starting point; a certain amount of money in marketing equals a certain amount of money in sales. After every tracking period, the company will do the same thing and find whether marketing is increasing sales, staying the same or actually losing sales. The theory here is that Nestle should see an increased return on investment when they increase marketing. There is no point of increasing marketing if the sales increase is only equal to the amount of money putting into the marketing because this does not give a larger profit

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References Allen, Kristina (2013), How to identify the quantifiable elements to evaluate, monitor and control your marketing plan retrieved from http://smallbusiness.chron.com Cano, L., Morejn, V., & Sandoval, E. (2013). Estudio de caso: Analisis De La Aplicacion De La Segmentacion De Mercado Como Estrategia Para Las Pequenas Empresas. (Spanish). Revista Internacional Administracin & Finanzas (RIAF), 6(5), 109-119.
http://en.wikipedia.org/wiki/Market_segmentation

History: Nestle Global. (2012). Retrieved from

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http://www.nestle.com Kornman, H. (2004). The Foreign Publisher in the US Market. Publishing Research Quarterly, 20(3), 24-29 Lopez, Maria (2013), Making channel management decisions for your business retrieved from http://articles.pubarticles.com Marketing Research. (n.d.). Retrieved from http://export.gov/mrktresearch/eg_main_018210.asp\ Marketing Teacher Ltd (2000-2013), Pricing strategies retrieved from
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Rubinson, J. (2009). Empirical Evidence of TV Advertising Effectiveness. Journal Of Advertising Research, 49(2), 20-226. Sales Management, Sales Promotion. (2004). Journal of Business & Finance Librarianship, 9(4), 205. doi:10.1300/J109v09n04_01
What is Content Marketing. (2013). Retrieved from

http://contentmarketinginstitute.com

http://en.wikipedia.org/wiki/Marketing_plan

http://www.ehow.com/about_6536021_sales-promotion-schedule_.html#ixzz2gK9Xilt1

FINAL MARKETING PLAN

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