This document contains a marketing report on Albocalendar, which is a combined calendar and photo album product. It includes a SWOT analysis, PEST analysis, and discussion of the 4Ps (Product, Price, Placement, Promotion). The SWOT analysis identifies strengths like being multipurpose and cost effective, weaknesses like being useless after one year, and opportunities and threats. The PEST analysis examines the political, economic, social and technological factors. Details are provided on product design and features, pricing strategies, distribution channels, and promotional activities. Segmentation targets professionals, managers, students and homemakers based on occupation.
In international marketing, the marketers are required to come up with a decision as to whether they are going to standardize the product or to modify the existing products which is one of the challenging decisions that they have to make. And this decision can make impacts on the organization in terms of the Research and development expenses, finance, production, organization structure, procurement, marketing mix etc. And the decision as to which to choose depending on the attitudes towards the different cultures. So in this article, we are going to cover these two concepts so that you can have an idea about the two concepts in depth.
PHILIPS DigiSummit - A startup approach to hacking marketsMeasureWorks
Modern markets are noisy. In our rush to launch new or improved products we tend to forget that customers don’t buy what they don’t understand.
From working with hundreds of startups there are 5 lessons learned to build the right product features within the target market. In this session we’ll discuss marketing positioning, founders blindess, the importance of analytics and experimentation and how to use all of this to grow your product faster.
In international marketing, the marketers are required to come up with a decision as to whether they are going to standardize the product or to modify the existing products which is one of the challenging decisions that they have to make. And this decision can make impacts on the organization in terms of the Research and development expenses, finance, production, organization structure, procurement, marketing mix etc. And the decision as to which to choose depending on the attitudes towards the different cultures. So in this article, we are going to cover these two concepts so that you can have an idea about the two concepts in depth.
PHILIPS DigiSummit - A startup approach to hacking marketsMeasureWorks
Modern markets are noisy. In our rush to launch new or improved products we tend to forget that customers don’t buy what they don’t understand.
From working with hundreds of startups there are 5 lessons learned to build the right product features within the target market. In this session we’ll discuss marketing positioning, founders blindess, the importance of analytics and experimentation and how to use all of this to grow your product faster.
1. UNIVERSITY OF CENTRAL PUNJAB
Marketing
Topic: Marketing Report on Albocalendar
Submitted By:
Sana Riaz (Reg#0185)
Saira Khalid (Reg#0201)
Aqsa Anees (Reg#
Iqra Talib (Reg#
Submitted To:
Sir Jahanzeb
2. Swot Analysis of Albocalendar
Following is the SWOT Analysis of Albocalendar.
1. Strengths:
Following are strengths of Albocalendar
Multipurpose:
As it have the features of both calendar and photo album so its use is
multipurpose.
Cost Effective:
It is cost effective because it saves the cost of buying a separate photo album.
Competitive Advantage:
We have competitive advantage because it is totally a new product.
2. Weakness:
Following are the weaknesses of Albocalendar.
Useless after one year:
Due to expiry of the year not only calendar but photo album will also become
useless.
Less Reliability:
It is less reliable due to the use of formic sheet.
More Care:
It is needed to be kept more carefully than any other calendar
3. 3. Opportunities :
Following are the opportunities of Albocalendar
.
Range of Product:
Range of product can be increased when needed.
Different Designs:
It can be made available in different designs.
New Material:
New Material other than formic sheet can be used.
4. Threats:
Following are the threats related to Albocalendar.
Cheap Product:
It is a cheap product due to which rich class may not attract towards it.
Easy Entry and Exit:
It can be easily enter and exit from the market.
Easy to copy
It can be easily copied by the competitors.
4. PEST analysis of Albocalendar:
Pest Analysis consists of following
1. Political Envionment
2. Economic environment
3. Social environment
4. Technological environment
1) Political Environment:
We consider following points in economic environment
i. Instable govt.:
Our government is instable and instable govt. means instable prices prevailing in the
market. If the price of raw material increase the price of the product has to be increased.
ii. Decided wage rate:
Government has decided the specific wage rate for every labourer working. But this rate
is not applicable in case of domestic industry where the family members contribute to
work for the preparation of such product. On the other hand if machines are used to
produce this type of things then on one side the cost increases with the expenses on
machines but on the other side the cost of employing more labourer will decrease.
iii. Pakistan’s rating:
Pakistan is 11th most vulnerable country of the world. Due to this the business activities
are severely affected. People won’t like to invest in such type of businesses where
demand is not more.
iv. No incentive to domestic industry:
Government is not providing incentives to the domestic industries. If such type of
industries are encouraged, machinery become affordable for the people and production
will become fast and cheap.
5. 2) Economic environment:
We consider following points in economic environment
a. Economic crisis:
Considering the economic crises in Pakistan, and non-availability of power for
industries,this product requires least work on machinery and is basically a hand Made
item. It is a cheap product and that is its speciality. It provides employment to domestic
artisan.
b. Promotion of domestic industries:
This product also promotes the hand made items. If the domestic industry is paid
attention, our country can earn huge foreign exchange by exporting hand made items.
3) Social environment:
We consider following points in social environment.
a. Islamic minds of people:
We are living in the Islamic country. Obviously people close to the religion will not like
the photo albums where our product is the combination of Photo album and table
calendar.
b. Social issues:
The other people who desire to purchase the product will not be comfortable in providing
their photos to manufacturer, so instead of printed photos, we created photo frame on
each leaf creating a photo album too.
c. Decorative items are preferred:
Secondly, we are living in the age of modernization. People prefer to buy the home
decore items instead of old fashioned products. As per our social and cultural
environment, colours are always admirable by the people, so a home decore item with
different colours will be the best choice of the people.
6. d. Social responsibility:
As per the behavior of the people and social responsibility, this product is user friendly
and non-polluting to the environment.
4) Technological Environment:
This type of product if domestically produced requires no machinery directly but
machines can be used to produce this product for binding, cutting of formic sheet.
Excessive use of advanced technology is not required and this is the important feature of
this product keeping in view the crisis of electricity in Pakistan.
4P’s Decisions:
4ps include the following:
Product
Price
Placement
Promotion
1) Product:
Variety:
This product is available in different designs with formic sheets.
Design:
It is basically table calendar with photo album that means it has two in one feature
with premium design.
Features:
It is basiccaly a combination of calendar and photo album. Photos are changeable
and a multicolour decorative item. Each flip has its own frame inserting photos
7. different on every flip. It is just like the dp of facebook that users like to change
the photos every month.
Brand name:
The name of the brand is Albocalendar.
Packaging:
It is available in one size in card box.
Services:
No after sale services are provided with this product.
2) Price:
List price:
The actual price is Rs.349/-. But the introductory price is Rs.299/-.
Discount:
No discounts are provided with this product because it is already a cheap product.
Allowances:
It is not a costly items having the price in thousands or lacs. So no allowances are
provided with this product.
Payment period:
It varies from channel to channel. Immediate payment is appreciated in case of
direct distribution but delay of 45 days can be acceptable in case of indirect
channel.
Methods of pricing:
There are two basic ways of pricing, which are as follows:
Cost based pricing
Value based pricing
8. Cost based pricing:
In this the cost of the production of the product is only considered. Some profit is added
in cost of production of the product and the product is sold in the market with the decided
price. It is mostly suitable for the trading businesses. So in case of wholesaling and
retailing, this method can be adopted for this product.
In cost based pricing the cost on product includes the cost of material which includes
formic sheet, card board, glues, Glace paper, scissors, plastic and labour of binder, artisan
etc. all these things are included in cost of the product.
Value based pricing:
In this method, the value of the product in the minds of the customers is considered. It
can be accessed by survey and questionnaire. It is suitable for manufacturing business. So
we will do value based pricing for this product.
Our pricing method
We priced our product in the mid way of value based and cost based pricing. Cost of the
product was 180/- but we go to the limit that people are willing to pay. People are wiling
to pay 400/- for this product because if they get the simple printed table calendar, it cost
them 200and a photo album cost them 300/-. Our product is still 100/- cheap and a hand
made decorative item.
New product pricing strategies:
Our new product will have the Market penetration pricing to firstly penetrate in the
market and then we will charge more price from customers to attain more profits.
Product Mix decisions:
We will adopt the strategy of Product Bundle Pricing in product mix pricing strategies.
9. Price adjustment strategies:
First of all, promotional rice will be charged. After proper introduction and attaining
popularity among the people, we will focus on segmented pricing. Psychological pricing
will be our all time strategy.
3) Placement:
Our product will be placed on the shops of retailers and wholesalers.
Retailers:
According to amount of service, limited service retailers will be preferable.
According to depth of product line, Convenient stores are preferable.
According to ownership, corporate chains are preferable.
Wholesalers:
Merchant wholesalers which include limited service wholesaler and that includes rack
jobbers and drop shippers will be considered in placement of our product.
4) Promotion:
Advertisement:
We can advertise it through retailers and flex.
Personal selling:
As far as personal selling of the product is involved, the indirect channel will be
adopted and the sale will be made to retailers and booksellers on book shops.
producer
retailer/
bookshop
customer
10. STP APPROACH
STP approach consists of following:
1. Segmentation
2. Targeting
3. Differentiation
4. Positioning
1) Segmentation:
Segmentation can be made in the following ways:
Geographic Segmentation
Demographic Segmentation
Psychographic Segmentation
Behavioral Segmentation
Segmentation made for Albocalandar
We make this product for the people who are used to of seeing calendar and also fond of
keeping photo frame on their tables .For this purpose we are doing demographic segmentation
Demographic Segmentation
For Albo Calendar we will do DEMOGRAPHIC SEGMENTATION. In Demographic
Segmentation we further selected the option of Occupation .Occupation includes the following;
Occupation :
Professionals and Technical, Managers, Officials, Crafts Person, Farmers,
Students and Homemaker.
In short, we are selecting the option of occupation from demographic segmentation for the
purpose of doing segmentation for our product
11. 2) Targeting:
Target Market For Albocalendar
For Albo Calendar we choose People who are fond of keeping decorative items of photo
albums , it may include youngsters or teenagers.
Target Market Strategy:
Following are the target market strategies:
Narrow Targeting
Broad Targeting
Narrow Targeting
As we are introducing one product so it means we are doing narrow
targeting for our Albocalendar
Target Market Segments:
Following are the Target Market Segments
1) Undifferentiated Marketing
2) Differentiated Marketing
3) Concentrated Marketing
4) Micro Marketing
Differentiated Marketing:
We will do differentiated marketing because we are considering the need of the people
and we are assuming people will buy it according to his desire and their needs and
preferences are different and we are making a different product according to their taste
12. 3) Differentiation:
As differentiation means to create a noticeable difference in the product so that it may look
different from the other products.
Differentiating point of Albocalendar
Following are the differentiating points of Albocalendar.
It is a Photo Album as well as a Calendar.
It is made of Formic Sheet.
One can also use it as a decorative item.
4) Positioning:
Positioning means to create an image of the product in the mind of the people.
Unique Selling Point (USP):
The Unique Selling Point of Albocalendar is that it is Calendar
as well as Photo Album
Positioning Strategies:
13. Positioning Strategy for Albocalendar:
We choose the following strategy for Albocalendar.
More for Same
We are using the positioning strategy of More for Same because we are giving more
benefits in low cost. It has the features of album and calendar but its cost is normal for
the convenience of the people.
Positioning Map For Albo Calendar
High Quality
Low Price High Price
Low Quality
Positioning Map :
As our price and quality is normal so we positioned our product in between
low price and low quality .