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Business Plan-15 Pages BUS 103 Marketing and Distribution Management

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Solution. Case used: ____________________________________ I. Company Profile In 1886, Johnson and his two brothers formally created the Johnson & Johnson in New Jersey, New Brunswick together, which has now become the leader within health care products manufacturing field. With the advanced technology, the company manufactures not only personal health care products but also the products including pharmaceuticals and medical devices. Since 1920s, with the needs of the expansion and development, Johnson & Johnson started to extend its market in Europe, Africa, Asia and other regions and successfully turned into a globalized company, which produces high-quality health products and promotes the health development internationally. After over 100 years of unremitting efforts and innovation, Johnson has established more than 250 branched within 57 countries world wide, and its products are sold in 174 countries and regions. The Johnson &Johnson Inc. has become one of the world’s most comprehensive health care products manufacturers with unique specialties. By the end of the year of 2014, the company’s revenue has reached 74,331 million, and the profits of that year were 16,323 million. Johnson & Johnson has a 4.23% of growth rate comparing to the year before. II. 5-year Financial Overview Year 2010 2011 2012 2013 2014 Stock Price 61.85 65.58 69.48 92.35 105.06 Revenue 61,587.00 65,030.00 67,224.00 71,312.00 74,331.00 Profits 13,334.00 9,672.00 10,853.00 13,831.00 16,323.00 Profit margin% 21.65% 14.87% 16.14% 19.40% 21.96% Growth Rate -0.5% 5.59% 3.37% 6.08% 4.23% Current Ratio 2.05 2.38 1.91 2.19 2.36 Asset Turnover 0.63 0.6 0.57 0.56 0.57 ROA 13.53 8.96 9.26 10.92 12.41 III. Current Market Situation a). Market description The industry of baby care mainly manufactures products specialized in infant market such as body wash, moisturizing products, skin care wipes, and anti-mosquito medicine. The service objects are mothers, pregnant women and newborns. Due to the fact that service object is quite special in this market, quality and safety is the first priority for company in this industry. Baby care products should be able to safely used in infants and children with delicate skin. These products often are used for infants and young children\'s skin, hair and other parts, mainly from the cleaning, moisturizing, sunscreen, antibacterial and other effects. With the improvement of people’s living standard, the demands of specialized baby care products become increasingly popular. Johnson & Johnson has always been focused on not damaging the natural protective layer on the skin of baby during the process of designing. The research and development department has to conduct a comprehensive assessment for each product. In order to be certified and qualified, each product need to complete more than 1500 of the data assessment in the test. As the trend, products in baby care industry all need to be designed not only with quality and safety, but also more humane, personalized, and stylish. b.) Product review Johnson & Johnson’s innovation of baby body wash—called Johnson\'s Baby Milk & Rice Bath—offers the following features: Double natural milk essence: It doubled the natural milk essence compared to the original formula. Multiple nutrition: Use natural milk protein with extra vitamin A and E in the new formula to better moisturizing and nourishing the skin in order to make baby’s skin smoother and more lasting. Economized: For usage, mothers only need to add 8-10 drops in the warm water (about 10 liters), then gently dial to produce foam. PH neutral: If take bath, there is no need to rinse off and only need to dry with a soft towel. If take shower, put few drops in the palm of the hand, gently wipe over baby’s body, then rinse with water. c.) Competitive Review Competitor Brand of Product Features Galderma Laboratories Cetaphil 1. Various kinds: cleansers, bar soap, cream, lotion, and moistures. 2. Commonly sold at grocery stores and pharmacies through out U.S. 3. Soap-free 4. Affordable price 5. Aim at different kinds of skin Ego Pharmaceuticals Ego Pinetarsol 1. Widely recommended by doctors 2. Exports and markets over 120 dermatological products 3. Soap-free 4. PH-balanced 5. Relieve itching 6. Recommended for normal oily skin d.) Channels & Logistics Review Johnson\'s Baby Milk & Rice Bath, is distributed through independent distributors to a network of retailors all over the world. This Strategy will avoid competitors like Ego Pharmaceuticals and Galderma Laboratories, which mainly focus on medical market like Pharmacies and children’s hospital. Its featured customers are not only babies but also adults who have sensitive skin. This strategy enables the company has a wider client base than other brands. Cite Johnson & Johnson SWOT Analysis. (2014). Johnson & Johnson SWOT Analysis, 1-8. http://www.egopharm.com/pinetarsol-solution/ http://www.daria.com.sg/8-best-baby-shower-gel-brands/ http://subscriber.hoovers.com/H/company360/balanceSheets.html?companyId=10824000000000&newsCompanyDuns=001307081


Item details:

 

Executive Summary

 

Financial Overview

 

Current Market Situation

 

Market Description

 

Product Review

 

Table A2.1 (Segment Needs and Corresponding Features/Benefits)

 

Competitive Review

 

Table A2.2 (Sample of Competitive Products)

 

Channels and Logistics Review

 

Strengths, Weaknesses, Opportunities, and Threat Analysis

 

Table A2.3 (SWOT Table)

 

Strengths

 

Weaknesses

 

Opportunities

 

Threats

 

Objectives and Issues

 

First Year Objectives

 

Second Year Objectives

 

Issues

 

Marketing Strategy

 

Product

 

Price

 

Place

 

Promotion

 

Position

 

Marketing Research

 

Action Programs

 

Budgets

 

Controls

 

 

I.) Executive Summary

 

What product your company is offering

 

 

How your product is positioned in the marketplace

 

 

Who your customers are

 

 

Marketing objectives

 

 

Overview of what the Marketing Plan will cover

 

 

II.) Financial Overview

 

Explanation of company’s current financial position

 

 

What are the reasons, causes for their current financial state

 

 

Includes Five Year Table with description of trends

 

 

Databases/Annual Reports

 

 

III.) Current Market Situation

 

a.) Market Description

 

b.) Product Review

 

i. Table A2.1 (Segment Needs and Corresponding Features/Benefits)

 

c.) Competitive Review

 

i. Table A2.2 (Sample of Competitive Products)

 

d.) Channels and Logistics Review

 

IV.) SWOT Analysis

 

a.) Strengths

 

Characteristics of the product that give it an advantage over others

 

b.) Weaknesses

 

Characteristics that place the product at a disadvantage relative to others

 

c.) Opportunities

 

Elements that the product could exploit to its advantage

 

d.) Threats

 

Elements in the environment that could cause trouble for the product

 

SWOT Table

 

IV.) SWOT Analysis

 

 

The SWOT analysis should be about the product, not the company.

 

 

The goal of SWOT for this marketing plan is to help the company adjust it’s overall strategies for better product placement.

 

V.) Objectives and Issues

 

a.) First Year Objectives

 

b.) Second Year Objectives

 

c.) Issues

 

VI.) Marketing Strategy

 

a.) Product

 

b.) Price

 

c.) Place

 

d.) Promotion

 

e.) Position

 

f.) Marketing Research

 

 

VI.) Marketing Strategy

 

a.) Product

 

 

A product strategy identifies, in broad terms, how you plan to sell your products to your marketplace.

 

 

b.) Price

 

 

Value Based

 

Cost Based

 

Competition Based

 

Market Skimming

 

Market Penetrating

 

c.) Place (distribution)

 

 

How a product or service is made available for use or consumption by a consumer or business user

 

- Using direct or indirect means

 

 

Build on “Channels & Logistics Review”

 

 

Expand it to a more comprehensive distribution strategy

 

d.) Promotion

 

 

Marketing communications mix consists of the specific blend of:

 

 

Advertising

 

Sales promotion

 

Personal selling

 

Public relations

 

Direct marketing

 

d.) Promotion

 

 

Marketing communications mix consists of the specific blend of:

 

 

Advertising

 

Sales promotion

 

Personal selling

 

Public relations

 

Direct marketing

 

d.) Promotion

 

 

Marketing communications mix consists of the specific blend of:

 

 

Advertising

 

Sales promotion

 

Personal selling

 

Public relations

 

Direct marketing

 

d.) Promotion

 

 

Marketing communications mix consists of the specific blend of:

 

 

Advertising

 

Sales promotion

 

Personal selling

 

Public relations

 

Direct marketing

 

e.) Position

 

 

Positioning Statement:

 

 

To (target segment and need) our (brand) is (concept) that (point of difference).

 

f.) Marketing Research

 

 

How you will measure customer satisfaction

 

 

Marketing research is systematic design, collection analysis, and reporting of data/ findings relevant to a specific marketing situation facing the company.

 

5 Basic marketing research methods:

 

 

Surveys

 

Focus groups

 

Personal interviews

 

Observation

 

Field Trials

 

f.) Marketing Research

 

5 Basic marketing research methods:

 

 

Surveys

 

Focus groups

 

Personal interviews

 

Observation

 

Field Trials

 

VII.) Action Programs

 

Design a short-term (6 months) action plan to achieve the stated objectives.

 

 

For example:

 

Time one (January)…

 

Time two (February)…

 

Time three (March)…

 

Time four (April)…

 

Time five (May)…

 

Time six (June)…

 

VIII.) Budgets

 

How much are you going to spend on each marketing activity?

 

 

How many units do you have to sell in order to break even or earn a profit?

 

(Use break-even analysis)

 

How much are you going to spend on each marketing activity?

 

 

How many units do you have to sell in order to break even or earn a profit?

 

(Use break-even analysis)

 

Break-even volume (BEV):

 

The number of units sold which enables the company to cover its fixed costs (i.e., it is the number of units sold at which unit revenue equals total cost)

 

IX.) Controls

 

Revenue – VC – FC = Zero (P – VC)*Q – FC = 0 (P – VC)*Q = FC

 

What are you going to control?

 

Product quality

 

Brand image

 

Brand awareness

 

Operational effectiveness

 

Customer satisfaction

 

…etc.

 

How to control it?

 

X.) Works Cited

 

10 minimum, quality references are required (APA format)

 

 

Alphabetical by Author’s Last Name

 

 

https://owl.english.purdue.edu/owl/resource/560/01/

 

 

Can include an Appendix if necessary

 

https://www.youtube.com/watch?v=kUjv0paTdJk

 







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This question was answered on: Mar 12, 2016

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