Marketing plan of Cool Things

Abstract

Cool Things is a company which designs and sells small toys and gadgets which are trendy and innovative, with a wide offer and a flexibility directed to the client’s needs. Cool Things is a B2B (Business to Business) company that also takes into consideration consumer interests and their experience with the products, however they have to direct their sales to GDO and other companies. Therefore, in the marketing plan the final customers have been largely considered in order to take decisions and the final clients’ interests and behaviours have been analysed to better understand their demand. The marketing plan presents an internal analysis of the company considering its resources and also an external analysis based on the PESTEL analysis. The investigation carried out shows the favourable factors of the external situation as well as the negative consequences that the pandemic has determined in the economy. Despite the negative aspect, the forecast of growth in the toys sector and also in the vending machine market has been underlined. Five main objectives have been established and in order to achieve them, the most appropriate strategies have been identified. First of all the differentiation strategy has been included, as the company should attract more clients thanks to its unique and high quality products. It has been considered also the Challenger strategy to guarantee the expansion of its market share. Lastly, considering the growth, the company should adopt the Market penetration and Products development strategies. In addition, eleven actions have been planned. The actions plan explains how to carry out each activity, the time needed and the budget required. Finally, the control method has been included to guarantee the achievement of the goals.