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Quantifiable Elements and Marketing Plan

The organization that I write about is Starbucks and the new product that's proposed for the firm is "Energy bar". I am completely stuck with this assignment.

I am asked to identify quantifiable elements that can be used to evaluate, monitor, and control the effectiveness of your marketing plan. The word count requirements for this assignment is 1200-1500 words.

The following elements should be included in the paper are as follows:

1. Control/monitor
a. Feedback mechanism to monitor progress
b. Evaluation process
c. Performance objectives (quantifiable elements)
1) Profit margin
2) Market share
3) Promotional effectiveness
4) Market penetration

Solution Preview

The response addresses the queries posted in 1572 words with references.

// To start with a marketing plan, we must first, analyze the different components of it. In this paper, the Company Starbucks has been taken. In order to start with the paper; we must give a brief introduction of the topic. Like this. //


Starbucks is an US based company mainly dealing in the coffee and coffee products all over the world. It also deals in coffeehouse retail chains and it is among the most prominent coffeehouse company of the world. The company has its business in food and beverages industry as well as in coffee brewing equipments along with various business sectors. High quality coffee and coffee products add to its core competencies in the business environment. The coffee products mainly comprises of the coffee beans, coffee bars, equipments used for making and brewing coffee, books, compact disc, etc (Gibson, 2007).

The company serves its products through different Starbucks coffee restaurants, retail chains, websites, etc. Effective customer service and operations provide competitive advantage to the company. The company offers nutritional food products to the customers. The company had launched a new product in to the market named as "Energy Bar" (Starbucks, 2008). The marketing plan for the launching and promotion of the product comprises of various promotional tools and techniques. In this paper, we will mainly focus on the evaluation, monitoring and control for the effectiveness of the marketing plan for energy bars (Kembell, Hawks, Kembell, Perry & Olsen, 2002).

// After giving a brief introduction of the topic we'll now discuss the control aspect of the marketing plan. Here we would provide a feedback mechanism to monitor progress, evaluation process and the performance objectives.//

Control/Monitoring of the Marketing Plan

Controlling and monitoring of the marketing plan involves the process of controlling the activities of the marketing plan. With the assistance of the control over the different activities involved in the marketing plan, the top management of the company can take effective steps regarding the activities that are deviating from the original track. The product energy bar of the company Starbucks is a nutritional product having different characteristics, such as lesser calories, more fruit content, more proteins and fibers (Michelli, 2007).

The controlling and monitoring process of the marketing plan involves different steps, so as to get effective results. The necessary steps include feedback mechanism for monitoring the progress, evaluation process and performance objectives based on the quantifiable elements, such as profit margin, market share, promotional effectiveness and market penetration. These steps can be described as follows:

Feedback mechanism to ...

Solution Summary

The response addresses the queries posted in 1572 words with references.