marketing plan budget

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//For the successful business, it is significant to do proper marketing with appropriate marketing plan budget. A marketing plan provides comprehensive information related to competition, customer, pricing, promotion, distribution and selling. In this context, the following marketing plan budget presents different elements of the plan for the business in the below discussion.//
Marketing Plan Elements For Eat Right Healthy Shop
Direct and Alterative Competition
In the market of the U.S., the Eat Right Healthy Shop faces a direct competition from many other similar retail shops that provide the products and services almost similar to the Eat Right Healthy Shop. The common direct competitors of the shop are Whole Foods Store, Safeway Stores and Trader Joe's Store (CNN, 2008).
Eat Right Healthy Shop also have strong alternative competition in the US market as there are many substitute shops available in the market, due to which customers are now available with many options of purchasing products from the shops (CNN, 2008). The major retail shops that pose alternative competition to Eat Right Healthy Shop include Hannaford Stores, Albertsons Stores, Publix Super Market and Super Target (CNN, 2008).
Promotion
The promotional strategies that will be useful for Eat Right Healthy Shop may include pamphlet advertisements, newspaper advertisements, hoarding advertisements and advertising the shop using social media platforms (Gelder & Woodcock, 2003). These strategies may help in advertising the shop to a wider population and these kinds of promotions attract more and more customers.
Pricing
Pricing is yet another important factor to be taken into consideration while entering into marketing, where Eat Right Healthy Shop has a number of competitors (Richards, 2015). For this purpose, it is suggestible that penetration pricing strategy must be used to establish the shop as a new affordable products' shop, wherein the products are to be sold at quite low prices with discounts in comparison to other competitor stores prices (Richards, 2015).
Customer Analysis
Before entering the market, ...