Marketing Plan For NCR Research Paper Example | Topics and Well Written Essays - 2000 words

Marketing Plan For NCR - Research Paper Example Monopolists also need to increase awareness of their goods to the market. This is because; if they introduce new products to the market, they will only make it known to the consumers by marketing it. Thus, every business in the economy markets its products and services to the public. In order to market products effectively, a business needs to prepare a marketing plan that will guide it to achieve its objectives. The marketing plan for NCR Company focuses on the way in which it can attract new clients for its services. The plan will analyze the company’s market, its competitive environment and the financial market. The Mission of the marketing plan is to work on diversifying the services offered in order to increase the number of clients served by the company. The company also has a number of goals and objectives that guide it. The company aims at ensuring that the quality of services offered has increased, and the customer base has been improved. In addition, the company also aims at ensuring that customer satisfaction has increased and, that the company’s profits have increased. The industrial analysis of the market can be judged as wide and mostly composed of investors and established people in the market seeking credit offers. The major needs of the market include loans, credit and funds at a lower interest rate. In addition, the market also demands financial advice from the company. Individuals need to be advised on how to make sound investment decisions. The market trend can be given as rising and smooth. A smooth market trend implies that governments have implemented favorable fiscal and monetary policies. On the other hand, it also implies that supply and demand forces are attractive and normal. Therefore, it implies that the business can regulate its prices and consequently affect customer purchases. Therefore, the business can be able to predict the future of its operations. The analysis of the porters 5 Forces, the threat of new entrant s is the major force affecting the industry. This is because; there are many potential industries that are joining the finance industry. In addition, since there are no barriers to entry, it is very easy for other business to join the industry and increase competition. On the other hand, the threat of substitute products and services is very low since; all businesses in the industries deal with the same products and services. Therefore, the business faces very low competition from substitute products. The bargaining power of both suppliers and buyers is high since, buyers bargain for low fee for services offered while, suppliers bargain for high prices for the services that they offered. Market Analysis The targeted market includes customers that want to invest in the market (Luther,  2001). It also includes customers that business organizations that are normally engaged investment activities. On the other hand, all customers wishing to obtain funds on credit also form part of the target market. The company mainly targets people in the urban areas or highly industrious places. This is because; it is in the urban areas that there is a high demand for finances. In addition, in the urban areas there are many business organizations that are willing to borrow funds on credit in order to expend their operations. Statistics show that; approximately 2500 business organizations are targeted by the business and 5000 business individuals. There are also other miscellaneous additions that involve individuals and businesses that may borrow money