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Marketing Plan of IPT

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You have managed to convince everyone at IPT that a marketing plan is needed. Additional analysis has revealed some interesting information:
? There is strong local recognition - lines go out the door at stores all day, every day
? No one else has been able to duplicate the process for making coatings stick to the popcorn
? IPT has long-term, low cost contracts with manufacturers and suppliers
? The patent for the coating process was just approved
? People have started calling from other states to place orders (IPT has had to turn them away)
? There is interest from the national flower and gift basket company
Your next step is to begin to develop a plan to expand IPT's business:
? Target: Whom do you want to target? Why? Can you foresee this target market changing or expanding in the future?
? Segmenting: if the target market is varied, how can it be segmented?
? Positioning: how are you going to position IPT?
? Differentiation: there are many gourmet food producers and retailers nationally and locally, including rival Grandma's Treats. How are you going to differentiate IPT?
When thinking about targets, don't forget to consider customer needs, marketplace trends, potential customer demographics, and competitors.
Put your thoughts together in a draft marketing analysis for IPT's owner and financial advisor. Since your report might have numbers, you may want to use charts or graphs on slides within the presentation.

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Solution Summary

This solution talks about how the issues of targeting, segmenting, positioning, and differentiation apply to IPT. It also develops a marketing plan for IPT.

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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