Market Plans Essay

1521 words - 7 pages

There are so many businesses in the world, some fail after a few months and others continue to grow as the years pass by. What makes the company fail or grow is the way they plan out their market plans. The marketing plans have to be taken into deeply consideration and have to work with the company in order for them to do greatly. When the marketing plans succeed, so does the company.
Marketing plan is when the marketer of the company comes up with an organized plan in which the company can reach their marketing objectives. There are two plans that come into play when working on the marketing plan. The first one is called the strategic marketing plan which is when the marketer puts out an ...view middle of the document...

, 2011, pg. 3). It was decided that by making them part of the strategic marketing plan the near death experience would never happen again. They would also listen to what the customers want and make the changes according to what they are looking for or try to merge the ideas together. Just by going by the International Business Machines history you could see how far they have come. In the near future because of the new strategic marketing plan IBM has said they are going to make seven million dollars alone just in revenue from cloud computing and many more millions from other areas of the company (Taft, D., 2011, pg. 2). They were close to failing when they made a big market mistake, but they got up from it and made their customers their first priority. That should be a lesson to all the other companies listen to what your customers are saying because they could either make or break your company. Also to keep an open mind about things do not shut down something because the company thinks it may not work. Take everything and everyone into consideration.
Pepsi is a brand name company and is known world-wide. There is not a store in the world that does not carry their products. Even though Pepsi seems like they are on top of everything and the products that they sell is a magical hit it is not always the case. During the year 1992 Pepsi released a product named Pepsi Edge. Pepsi Edge was created by the company because they thought it was going to become a bug hit. The drink Pepsi Edge only had seventy-five calories to each can (Ries, A. & Ries, L., 2009). It was a complete failure. The reason was that they really did not put much thought into it. The Pepsi Corporation thought since everyone likes either the regular one hundred and fifty calorie Pepsi can and the zero calorie Pepsi Diet can that some of the customers would want something in between. Whatever their market plan was it was not thought out at all. If the marketer was to sit down and think would people want this drink the answer should have been no. The marketer did not consider what the customers thought and did not put them as part of the strategic marketing plan. It caused the product to fail miserably and because of poor market planning the company lost a lot of money. It was not until the year 2005 that the Pepsi Corporation decided to finally discontinue the product. They had no choice no one was buying it and they were losing money. They should have come up with a better market plan because if they did the Pepsi Edge would have never been out for the public to buy. Their market plan was just to make more money not want the customers wanted. If they would have listened to the customers they could have saved themselves the heartache.
Both companies did different things when it came to their market plan. One company actually sat down and thought what would the customers like and would they purchase the item. The other company seem like they did not put much thought into the plan...

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