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Marketing Plan Development for LumiCore Company Essay Example

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Marketing Plan Development for LumiCore Company

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Marketing Plan Development for LumiCore Company. Similar to other industries, automobile paint industry has significant importance for car manufacturers. The increased demands of automobile customers regarding corrosion protection and for making the distinction in vehicle color design dictate the significance for flexible organizations which can effectively react to the market changes (Aessealplc, 2002). Hence, the report aims at analyzing the business environment of the UK as well as to recommend market entry strategy for LumiCore to conduct business-to-business marketing activities. The goals of LumiCore can be categorized in three ways which are marketing goals, strategic goals, and tactical goals. The marketing goals of LumiCore are to accomplish adequate revenue and to expand the business in the market of the UK.

The strategic goal of LumiCore is to become one of the top automotive paint manufacturers in the UK within next five years, and the tactical goal of LumiCore is to enhance the brand awareness. Painting generally includes several polishes, glosses, and varnishes which are used to shield and to decorate the surfaces such as internal and external walls, doors and frames among others. Painting is vital if automobiles are to be repaired and given a new life. The international painting market was worth US$85.7 billion in the year 2005. The paint market had demonstrated a healthy increase in growth in the global context. The average annual growth rate of international paint market was almost 2.7% from 2001 to 2005. With respect to volume, the annual growth rate of global paint market was almost 4.2% in the same period. This growth was mostly driven by rising demand for paints in several developing markets especially in Asia and Eastern Europe. The rising demand for paint was due to a combination of several aspects such as an increase in the disposable income of people and a higher level of spending on painting homes and vehicles. In developed markets such as in Western Europe and in North America, growth in the painting is driven by the improvement of more sophisticated products which can fulfill the demands for inexpensive, environmentally friendly and effective coating. Marketing Plan Development for LumiCore Company.

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