Marketing management MMP 2 Essay Example | Topics and Well Written Essays - 2000 words

Marketing management MMP 2 - Essay Example The projected sales of the company for the year 2008 is followed by the objectives for the year and marketing strategy, the means to achieve the projected sales and bottom line numbers. Magic Carpets Inc is a 15-year-old company specializing in the carpet cleaning and is among the top four carpet-cleaning companies based in California. The company decides to get proactive in handling the growing competition in the field especially from the large players in the janitorial services who have a pan American presence and a few multi nationals who are planning to venture into the market in a big way. Magic Carpet believes that it is high time it consolidates is business, capitalizes on its strengths and makes a few smart moves to increase market share and wallet share. The entire approach of Magic Carpet is built around establishing the brand, building loyalty, making differential pricing strategies, acquiring new markets, building new channels of business, nurturing business partners and coming out with innovative service offerings to build value to its services. The action plans are worked out in accordance to the 4P framework – Product, Pricing, Place and Promotion. (Kotler Philip, 2004, Marketing Management) The 4P’s are applied across two broad market segments – existing markets and new markets. The following are the major action plans made to achieve the business objectives of ’08: For Magic Carpets, the elaborate business plans made for 2008 necessitated elaborate controls. With different process owners involved at various stages of execution of the action plans, there was a definite need to build adequate checks and balances at every stage of the plans to ensure successful completion to derive the necessary results. It is not important for Magic Carpets to achieve the results only. The means by which the result is achieved is equally important. Hence, process adherence is of paramount importance to successful