Out and About Plc Essay
Out and about plc have appointed a new chief executive Lisa Coates who has proposed a new marketing plan to enable the business to achieve a rapid improvement in profitability. A marketing plan is a report outlining a firms marketing objectives, strategies and tactics including costing, timings and forecast results. It is part of a businesses overall corporate plan and should take into account the businesses corporate objectives, its internal capabilities, external opportunities and threats. Out and about plc must decide whether this new plan should be adopted.
Case for out and about plc’s proposed plan
The new proposed plan could lead to an increase in profitability due to the …show more content…
Case against out and about’s proposed plan
The new proposed plan for out and about is initially high risk. The company will be diversifying into a new market which according to ansoffs matrix is high risk.
The company will be changing its target market to16 – 30 year olds which could be a problem for the business as out and abouts current loyal customer base is middle aged or retired. It may be harder to gain the young customer base as out and about plc is associated with older people which means more money may have to be spent on marketing to project the new ‘younger’ image of out and about to the customers as only 15% of 21-30 year olds are aware of out and about plc compared to 85% over 55. Also Targeting a younger audience