Lego Marketing Plan - 5478 Words

Letter of Transmittal [pic] 28th May 2011 Ms. Jessy LEGO Group, 28, Jalan Senget, 10350 Kuala Lumpur. Dear Ms. Jessy, Enclosed is a report detailing the preparation steps needed to do before launching the products in the domestic market. As discussed during our meeting, I have also made recommendations tailored specially to your business’s need. The report provides background to the company and industry as well. Benefit and features of the product lines are also briefly explained. The report also provides in-depth analysis on the external environment of the market. Other than that, recommendations on product strategy, promotional strategy, pricing strategy and distribution strategy are included in the report. The information†¦show more content†¦Marketing plan contains of marketing objectives and strategies for segmentation, target markets, positioning, and marketing mix (Kotler Armstrong, 2010, p.78). A clear marketing plan will acts as a proposal for the company to achieve goals. Other than that, a clear marketing plan will also achieve competitive advantage in term of cost leadership, and the differentiation of new or existing products and services (Keetch, n.d.). With a marketing plan, the company will know the pricing of the competitors, thus the company will try to reduce the cost of the product and lower the price in order to compete with competitors. Through differentiation strategy, company will distinguish their own products by increasing the quality of the products or making improvement towards the product to gain competitive advantage. The drawback of marketing plan is marketing plan will lead to wrong decision making (Bellis, n.d.). Wrong analysis of the data and wrong interpretation in marketing plan will lead company to a wrong decision making. A wrong decision making will cause company a huge loss in term of monetary and also market share. Moreover, there is insufficient information regarding LEGO in the Malaysian market. 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