Lesson in Marketing Plan Part II includes the parts of Marketing Plan, excluding the Description of A Product, Comparison of the Product from Competitors and Location which are included in the lesson in Part I
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Lesson in Marketing Plan Part II includes the parts of Marketing Plan, excluding the Description of A Product, Comparison of the Product from Competitors and Location which are included in the lesson in Part I

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Lesson in Marketing Plan Part II includes the parts of Marketing Plan, excluding the Description of A Product, Comparison of the Product from Competitors and Location which are included in the lesson in Part I Lesson in Marketing Plan Part II includes the parts of Marketing Plan, excluding the Description of A Product, Comparison of the Product from Competitors and Location which are included in the lesson in Part I Presentation Transcript

  • OBJECTIVES: 1. Enumerate the content of a Marketing Plan 2. Identify the most crucial part of the Marketing Plan, Why? 3. Discuss where the total demand will be based from the statistics of your report to make it reliable when: 3.1. The business had zero-in its finances/ market 3.2. The business had existed in the past three years 4. Explain the share or percentage of your market that will be captured by the enterprise 5. Evaluate how selling price of your product(s) will be most safe to use if your business has: 5.1. just starting an enterprise 5.2. started in the past three years 6. Present at least 2 examples of sales forecasts. Explain it.
  • What did we discussed in our previous lesson about the Parts of a Marketing Plan?
  • The Other parts of a Marketing Plan: 1.4. Market Area. What geographical areas will be covered by your enterprise? -Coverage, size in the locality, size of market in other localities, strong competitors in the area, willingness to travel for purposes of establishing channels of distribution for selling
  • The Other parts of a Marketing Plan: 1.4. Market Area. What geographical areas will be covered by your enterprise? -Coverage, size in the locality, size of market in other localities, strong competitors in the area, willingness to travel for purposes of establishing channels of distribution for selling
  • MAIN CUSTOMERS WITHIN THE MARKET AREA What are the specific target groups of your product? The target group of the “Marita’s Wonder Oil” will be the owners of beauty parlors, SPA, and end users in Santiago City with a monthly income bracket of Ph 15,000 and above, regardless of culture and religion, sex and age with a regular consumption pattern of weekly and monthly bases. Wholesaling and retailing will be the mode of selling this product.
  • TOTAL DEMAND How many of the enterprises with the same product range are currently existing? -Exactly how many enterprises with the same product range are existing in the area? -Are they selling practically the same product lines as you have? -If you are distributing locally, what are the estimated (If possible, it is imperative to check some statistics; or make a low-cost sample survey; make an estimation of their total sales)
  • Sample of a Market Guide Survey 1. How much do you sell in a daily basis 2. What day in a week has the highest number of items do you sell this product? 3. What day in a week do you sell the least number of items do you sell this product? 4. How much is the highest and least price do you offer this product? 5. Do you know someone who also sell this product? How many of them?
  • ESTIMATION OF MARKET SHARE Product Line No. of Competitors Their Share Market Share Large Their Product(s) Features Similar Product A Many Product B Few Small Dissimilar 0-5 Product C One Small Similar 10-15 Product D Few Large Dissimilar 20-30 Product E No competitor None None 100 Assign a range then get the mid point: 1. 1.25 4. 25 2. 2.5 5. 50 3. 12.5 0- 2.5
  • SELLING PRICE What is the Selling Price of the product? 1. COST PLUS METHOD Add reasonable profit margin to the Final cost of Product 2. COMPARATIVE METHOD Base on Product Quality and other features, Fix your Price lower/higher or the same as competitors 3. MARKET-BEAR METHOD Base on Supply and Demand FactorIncrease Profit Margin when Product is in Demand, Reduce when there is over supply
  • SALES FORECAST How much of the product(s) will be sold? 1. Every month for the first Generally a fraction of estimated year market share from 60% to 80% 2. Peak and lean periods The highest during peak and the lowest during lean periods 3. Yearly for the next 5 years Based on your assumptions given in the comparison of your product with competitors, the estimated demand, and your strategy in costing used.
  • PROMOTIONAL MEASURES What promotional measures will be used to sell the product(s)? 1. Advertisement 2. Handbills Distribution, billboards, press releases 3. Volume incentive (lower prices when buying in bulk) 4. Prompt, regular, courteous and efficient service to customers 5. Good merchandising/proper disposition of the product 6. Sponsorship of local shows, festivals, trade fairs, exhibits 7. Personal Selling
  • Marketing Strategy What marketing strategy will be employed? PRODUCT- defining, planning, balancing, integrating PRICING- charging the right price PLACE- picking up the products(s) and delivering them from and to the right place making sure the product is available when needed PROMOTION- making sure that the existence of the product is known Note: Learning to manage the 4 P’s is necessary in effective implementation of Marketing Strategy
  • MARKETING BUDGET How much do you need to promote and distribute your product(s)? Account Title Salaries/Wages (Marketing Officer) Advertisement Promotion Commission Others (Specify) Total Marketing Budget Year 1 Year 2 Year 3 Year 4 Year 5
  • ACTIVITY Direction: Think of a problem that you mostly encounter in making your marketing plan and answer the below question: WHAT IS THE MOST CRUCIAL PART OF YOUR MARKETING PLAN? WHY?
  • ASSIGNMENT: 1. ENCODE THE PARTS OF YOUR MARKETING PLAN AND SEND TO MY FACEBOOK ACCOUNT/ atiram40@yahoo.com 3. DEADLINE OF SUBMISSION OF THIS ASSINGNMENT WILL BE ON FRIDAY (JANUARY 17, 2014)