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
1.
2. 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.
3. What did we discussed in our previous lesson about
the Parts of a Marketing Plan?
4. 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
5. 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
6. 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.
7. 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)
8. 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?
9. 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
10. 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
11. 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.
12. 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
13. 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
14. 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
15. 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?
16.
17. 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)