10 Step Marketing Plan


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A sample marketing plan for a chosen product: Metrohome

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10 Step Marketing Plan

  1. 1. 10 STEP Marketing Plan for Mary Kristine P. Andrade February 2010
  2. 2. PTM and positioning <ul><li>PTM: Client-base, branches </li></ul><ul><li>NWD: Low, flexible rates with a trusted partner </li></ul><ul><li>Competitors: Other banks, including savings banks </li></ul><ul><li>Loyal client base </li></ul><ul><li>Real estate boom, deposit base </li></ul>
  3. 3. Marketing Mix & Strategy <ul><li>Product: MetroHome funding </li></ul><ul><li>Competitive pricing at 1-year fixing of: </li></ul><ul><li>Fixed and flexible rates </li></ul><ul><li>Branch-banking maximized </li></ul><ul><li>Uses wide branch network plus developer tie-ups </li></ul>
  4. 4. Positioning to the Primary Target Market
  5. 5. 1. Focus on existing client-base <ul><li>Demographics (Clients: mostly Urban-dwellers, single and employed, young parent and employed, self-employed/ entrepreneur; good credit history) </li></ul><ul><li>Lifestyle (active, on-the-go but also savings conscious; family-oriented and prioritizes value for money) </li></ul><ul><li>Behavior (mature, plans ahead; settling down) </li></ul>
  6. 6. Need for shelter and security I am complete when I have a secure future and a safe home (for myself or my family) My home should be a measure of my success
  7. 7. 2. My PTM’s NWE <ul><li>CLIENTS: </li></ul><ul><li>Primary need for SHELTER and SECURITY </li></ul><ul><li>SECURITY in terms of safety and also financial protection (return on investments) </li></ul><ul><li>Type of HOME as a measure for SUCCESS in chosen career or profession </li></ul><ul><li>Where and what type of home is chosen </li></ul><ul><li>Provide protection for my family or secure a safe heaven where one can grow old or build a future nest—Long-term investment </li></ul>
  8. 8. 3a. Metrohome and competition <ul><li>Direct: Commercial and savings banks with Housing Loans </li></ul><ul><li>Indirect: Real estate developers selling on their own, government institutions (Pag-IBIG) </li></ul><ul><li>Variables: Price (interest rates), relationships (banks with developers, clients with banks), flexibility of terms </li></ul>
  9. 9. 3b. MetroHome and competition: peers’ advantage <ul><li>Tie-ups with large, active developers: Ayala Land and SM Corp. </li></ul><ul><ul><li>Large captured market </li></ul></ul><ul><ul><li>Bigger client base, even outside bank branch network </li></ul></ul><ul><li>MBTC tie-up with Federal Land: not as aggressive </li></ul>
  10. 10. 4. MBTC’s loyal client base: FOCUS ON RELATIONSHIPS <ul><li>RELATIONSHIP-building is most important </li></ul><ul><ul><li>Tried and tested service with other product offerings </li></ul></ul><ul><ul><li>Priority service: preferential rates and personalized service </li></ul></ul><ul><li>Build-up on depositor base </li></ul>
  11. 11. 5. Rough estimates
  12. 12. 5. Rough estimates
  13. 13. 5. Rough estimates
  14. 14. 5. Rough estimates
  15. 15. The Marketing Mix Strategy
  16. 16. 6. Home Loan products in focus
  17. 17. 6b. MetroHome: Product Description <ul><li>Flexible terms depending on purpose </li></ul>10 Personal investment 25 Reimbursement 15 Refinancing/ Take-out 25 Renovation/expansion 25 House construction on lot owned 25 Purchase of lot and house construction 25 Purchase of condominium 25 Purchase of residential townhouse 25 Purchase of house and lot 10 Purchase of lot Term (in years) Purpose
  18. 18. <ul><li>Waived application fee </li></ul><ul><li>Loan repayment modes: </li></ul><ul><ul><li>Post-dated checks </li></ul></ul><ul><ul><li>Auto-debit arrangement </li></ul></ul><ul><li>Maximum loanable amount: up to 70% of appraised value </li></ul><ul><li>Minimum loanable amount: </li></ul><ul><ul><li>Metro Manila: Php 500,000 </li></ul></ul><ul><ul><li>Countryside: Php 300,000 </li></ul></ul>6b. MetroHome: Product Description
  19. 19. <ul><li>Eligibility guidelines: </li></ul><ul><ul><li>Must be a Filipino citizen </li></ul></ul><ul><ul><li>At least 21 years old at time of loan application </li></ul></ul><ul><ul><li>Not more than 65 years old upon loan maturity </li></ul></ul><ul><ul><li>(Employee) Permanent with current employer for the past 2 years </li></ul></ul><ul><ul><li>(Self-employed) In profitable operation for last 3 years </li></ul></ul><ul><ul><li>Of good credit standing </li></ul></ul>6b. MetroHome: Product Description
  20. 20. 7.MetroHome: Interest rates <ul><li>Interest rates: as of February 16, 2010 </li></ul>10.50% 6-10 years 10% 5 years 9.75% 4 years 9.50% 2-3 years 9.25% 1 year Interest rates Fixed for:
  21. 21. 7. Interest rates of home loans
  22. 22. 8a. MetroHome PROMO Metrobank High Life, High Five Promo INQUIRER.net First Posted 13:15:00 05/14/2008 Filed Under: Lifestyle & Leisure , Lifestyle (House & Home) Lifestyle prize bundles up for grabs with Metrobank High Life, High Five Promo ENJOY THE HIGH LIFE and fill your home with brand new appliances, furniture, and electronic gadgets with the latest promo from Metrobank. The METROHOME HIGH LIFE, HIGH FIVE promotion gives home loan borrowers a chance at getting lifestyle prize bundles! This promotion is open to borrowers whose application for a MetroHome loan is accepted from May 2 to July 31, 2008 and approved for at least P 1,000,000 for a minimum term of five (5) years. Only borrowers whose approved MetroHome loans are booked or availed of no later than September 30, 2008 are eligible for a chance to win any of the exciting lifestyle prize bundles - the Gadget Bundle, the Techno-Savvy Bundle, the Fine Furniture Bundle, the Complete Kitchen Bundle, and the Family Entertainment Bundle. Every P 200,000 of total booked or availed loan entitles the borrower to one raffle entry. The higher the loan amount, the bigger the chances of winning. The Gadget Bundle includes an Apple iPOD Touch and Canon digital camera. The Techno-Savvy Bundle comes with a Sony VAIO laptop, an Olympus underwater camera, and an Apple iPOD Nano. The Fine Furniture Bundle is a furniture showcase from Abea. The Complete Kitchen Bundle consists of a Whirlpool refrigerator, an Electrolux washing machine, a La Germania cooking range, a Sharp microwave oven, a Black & Decker bread toaster, a Krups espresso maker, and a Moulinex food processor. The Family Entertainment Bundles is made up of a Nintendo WII, a Philips 42” LCD TV, and a Philips Home Theater System. The raffle draw is slated on October 6, 2008. Metrohome is the housing loan package of Metrobank, the country’s leading bank. It is one of the easiest and most affordable housing loan packages in the market today. Whether it's for the purchase of a lot, a house and lot, a townhouse or condominium, a house construction or renovation or home loan refinancing, Metrohome has the right package for you. Metrohome loans offer competitive interest rates. Terms are flexible - up to 25 years for a purchase of house and lot or townhouse. Enjoy high loan amounts out of the property's appraised value. And loan repayment is worry-free through the issuance of post-dated checks or automatic debit arrangement. For convenience, a MetroHome borrower can also make loan payments through any of the Bank’s over 500 branches. For more details on the METROHOME HIGH LIFE, HIGH FIVE promo, please visit your nearest Metrobank branch or call 898-8515, 857-5976, and 857-9786. You may also visit www.metrobank.com.ph
  23. 23. 8a. MetroHome PROMO <ul><li>Aggressive tie-ups </li></ul><ul><ul><li>Exclusives: will developers be willing to have exclusive tie-ups? </li></ul></ul><ul><ul><li>IF NOT: find more developer-partners </li></ul></ul><ul><li>Heighten visibility </li></ul><ul><ul><li>Branches </li></ul></ul><ul><ul><li>Developer sites </li></ul></ul><ul><ul><li>Web ads/ banners </li></ul></ul>
  24. 24. 8a. MetroHome PROMO <ul><li>Enhance SALES training of branch personnel </li></ul><ul><ul><li>While Branch Managers are tasked to do marketing: </li></ul></ul><ul><ul><ul><li>Train all personnel to push MetroHome product </li></ul></ul></ul><ul><ul><ul><li>HR and Marketing units to develop training program </li></ul></ul></ul><ul><ul><ul><li>Corporate Communications to develop marketing and sales kit </li></ul></ul></ul><ul><ul><ul><li>IT to develop web-based presentation materials for easier access </li></ul></ul></ul>
  25. 25. 8a. MetroHome PROMO <ul><li>Advertise promos MORE </li></ul><ul><ul><li>For example: 2008 High Life, High Five promo </li></ul></ul><ul><ul><ul><li>Barely “google-able” </li></ul></ul></ul><ul><ul><ul><li>New or potential clients would not even know </li></ul></ul></ul><ul><ul><ul><li>Choose MBTC over other banks if promo was know </li></ul></ul></ul>
  26. 26. 8b. BDO promo <ul><li>Get a Rajo Laurel Designer Collection  with your Home Loan *Plus a 0.5% discount on prevailing interest rates for the 1st year of your home   loan when you apply from February 15 - March 15, 2010. Terms and conditions   apply. </li></ul><ul><li>Promo Mechanics </li></ul><ul><li>   1. BDO Home Loan applications received from February 15 to May 15, 2010 , which     are subsequently approved, and availed no later than June 30, 2010 shall qualify     for the promo . (Standard approval, application process and policies, terms and     conditions of BDO apply.)   2. The promo is open for the following home loan purposes: </li></ul><ul><ul><li>Purchase of a house and lot </li></ul></ul><ul><ul><li>Purchase of a townhouse </li></ul></ul><ul><ul><li>Purchase of a residential lot with house construction </li></ul></ul><ul><ul><li>Purchase of a condominium unit </li></ul></ul><ul><ul><li>Construction of a house </li></ul></ul><ul><ul><li>Refinancing of an existing home loan </li></ul></ul><ul><ul><li>Reimbursement of a home loan acquisition cost </li></ul></ul><ul><ul><li>Equity Loan </li></ul></ul><ul><li>3. Qualified BDO Home Loan clients shall receive for free the item that corresponds  to their availed loan amount. </li></ul>
  27. 27. 8b. BDO promo    4. If the Rajo Laurel Designer Collection for Uratex corresponding to the client's loan amount is unavailable, the Bank will provide an item with the same brand and closest specifications with the same value, with prior approval of DTI. Their respective Account Officer will notify client if they qualify.   5. Delivery of the Rajo Laurel Designer Collection for Uratex is free to the address specified in their Home Loan application. In the event of one (1) unsuccessful delivery, redelivery cost shall be charged to the BDO Home Loan client.   6. BDO shall provide the qualified client with delivery procedures for the orderly and efficient delivery of the Rajo Laurel Designer Collection for Uratex.   7. The specified Rajo Laurel Designer Collection for Uratex is non-transferable, non-convertible to cash nor can be exchanged for other promo items. The promo item cannot be availed in conjunction with the waiver of the handling fee.   8. Items shall be covered by respective manufacturer's warranty. Extension of warranty shall be for the account of client.   9. Employees of BDO and subsidiaries are not qualified for the promo. 10. These terms and conditions are subjected to any relevant law, government direction and regulation. The promotion will be void where prohibited or restricted by law. 11. In case of dispute, the decision of BDO, with the concurrence of DTI, shall be deemed final.
  28. 28. 8b. BDO promo Trapunto Mattress by Rajo Laurel (15.24 x 91.44 x 190.50 cm) P 10,000,000 and up     Scatola Convertible Ottoman by Rajo Laurel (91.44 cm) P 6,000,000 – P 9,999,999  Scatola Convertible Ottoman by Rajo Laurel (63.50 cm) Up to P 5,999,999  RAJO LAUREL DESIGNER COLLECTION FOR URATEX* LOAN AMOUNT
  29. 29. 8b. PSBank rebate promo Prime Rebate allows advance or excess Home loan payments to earn rebates. This will effectively shorten the loan term, give clients a discount on your total loan amount, or even both. * The rebate is automatically applied to all new and existing term loans. The client does not need to register or enroll to get the rebate. * Rebates earned from advance/excess payments are computed on a daily basis – including weekends and holidays, starting on the date the payment is posted, and credited every due date. How does the PSBank Prime Rebate work? Make an Advance Payment For example, when you pay five (5) days before your loan’s monthly due date, you will actually earn a rebate on a daily basis from the day your payment was posted to the day before your loan’s due date. Make an Excess Payment If you pay in excess of the amount required on your due date, you will earn a rebate on a daily basis from the date of posting up to the day before the next due date.
  30. 30. 8b. WHY MBTC promo COULD work <ul><li>Better visibility </li></ul><ul><li>Developer partnerships: push for MBTC vs. other banks </li></ul><ul><li>Showcase offered by MBTC more practical </li></ul><ul><li>Building relationships with partners and clients: develop loyalty </li></ul><ul><li>Product knowledge key to gaining clients </li></ul>
  31. 31. 9. MetroHome uses MBTC branch network <ul><ul><li>562 branches, as of December 2009 </li></ul></ul><ul><ul><ul><li>307 in MM and 255 provincial branches </li></ul></ul></ul><ul><ul><li>Head Office in Makati </li></ul></ul><ul><ul><li>Payment scheme: auto-debit or PDCs </li></ul></ul><ul><ul><li>Partnerships with various developers </li></ul></ul>
  32. 32. 10. What is the generic winning strategy? <ul><li>Which of the 4 strategies are being used? (bold and underline to most dominant strategy) </li></ul><ul><ul><li>Low Cost Producer </li></ul></ul><ul><ul><li>Supply and Distribution Leverage </li></ul></ul><ul><ul><li>Differentiation </li></ul></ul><ul><ul><li>Niche </li></ul></ul>
  33. 33. 10. Distribution leverage <ul><li>Use branch network </li></ul><ul><ul><li>Already set-up </li></ul></ul><ul><ul><li>Knowledge of existing and potential market </li></ul></ul><ul><li>Use existing profile of clients </li></ul><ul><ul><li>Determine eligibility </li></ul></ul><ul><ul><li>Determine credit history </li></ul></ul><ul><ul><li>Determine personal preferences </li></ul></ul>
  34. 34. SUMMARY
  35. 35. PTM and positioning <ul><li>PTM: Client-base, branches </li></ul><ul><li>NWD: Low, flexible rates with a trusted partner </li></ul><ul><li>Competitors: Other banks, including savings banks </li></ul><ul><li>Loyal client base </li></ul><ul><li>Real estate boom, deposit base </li></ul>
  36. 36. Marketing Mix & Strategy <ul><li>Product: MetroHome funding </li></ul><ul><li>Competitive pricing at 1-year fixing of: </li></ul><ul><li>Fixed and flexible rates </li></ul><ul><li>Branch-banking maximized </li></ul><ul><li>Uses wide branch network plus developer tie-ups </li></ul>
  37. 37. 10 STEP Marketing Plan for Mary Kristine P. Andrade February 2010