Marketing Plan

Marketing Plan

Marketing Plan

 

Introduction to Marketing

 

 ·        Introduction of marketing plan as the basis of business plan

                ·        A marketing plan is a listing of the goods and services that a business intends to market  and how it reaches the target market 

                 ·        The concept of marketing is the guiding principle regarding the basic methods a business should follow to achieve its objectives

 

Marketing has developed as follows

 

1.                 Production Concept

2.                 Product Concept

3.                 Sales concept

4.                 Marketing Concept

5.                 Customer Concept

6.                 Complete Marketing Concept

Production Concept

 

ü    It     is an age-old concept that guides marketers.

ü    M    arketers will focus on the following factors

·        Increase production as much as possible

·        Low cost

 

Product

ü    It motivates the consumers to buy products with high quality, modern and appealing properties.

ü    Marketers pay attention to the following

·        Regarding Quality

·        Undertaking research and development activities by devoting one's time and effort

 Sales concept

ü                    Sales policy is based on sales promotion methodology.

                     Marketing Concept

ü    It means producing marketable goods instead of producing things that can be produced.

 Customer Concept

ü    It is the process of identifying the customer individually and presenting the products that are relevant to the respective customer.

                     Social Marketing Concepts

ü    Providing goods and services that are not harmful to the society.

                 Complete Marketing Concept

ü    Working with one and the same objective to achieve higher results.

ü    This includes the following

·        Affiliate Marketing

·        Integrated Marketing

·        Internal Marketing

·        ActiveMarketing

 

Parts of a marketing plan

1.                 Market Research

2.                 Marketing Strategies of the proposed Business

3.                 3.Sales Projections

4.                 4.Marketing Income and Expenses

5.                 5.Fixed marketing cost

 

Market Research

 

    

·                    Market analysis is the study of the products, demand within the service, target customers, nature of competitors and their marketing strategy.

·                    The main objective of market research is to obtain the information necessary to properly organize a marketing plan.

 

Factors to be considered in market research

·        Demand for Goods and Services

It is the study of customer preference and ability to purchase goods in order to purchase goods.

·        Target Customer

To identify customers with different characteristics available in the market and produce products and services that are suitable for them.

·        Rival

A competitor is a person who presents an equivalent product to an entrepreneur.

 

Or they are able to sell goods or services that substitute their goods or services even if they are not the same kind of goods and services.

                       

                                    Example:

production	Substitution
Butter	Majarin
sugar	sugar cane
soap	Detergent

 

 

 

Marketing Strategies

 

·                    Marketing strategies are the strategies employed by a business enterprise to achieve its marketing objectives in the target market.

·                    It is important to base the marketing mix when choosing a marketing strategy. 

 

They are: (4Ps)

ü Manufacturing-product

ü Price-price

ü Location-place

ü Promotion-promotion

 

In addition to these, three more variables will be included in 3Ps and will have 7Ps variables.

     (7Ps = 4Ps +3Ps)

 

They are:

 

ü                    Humans- people

ü    P      rocess- process

ü                    Physical Environment

 

7Ps variables and their examples

 

production

·                    A product is anything that is presented to the market for sale to satisfy the needs and wants of the consumers.

·                    Example:

ü    Quality

ü    Design

ü    Characteristics

ü    Token

ü    Package

ü    Size

ü    Guarantee

ü    Article

 

Price

·        Price is the amount of money a consumer pays for the purchase of goods or services.

·        Example:

ü    List Price

ü    Waste

ü    Steps

ü    Terms of Credit

location

·        It is the distribution of the product to the market for the successful sale of the product.

·        Example:

ü    Distribution Procedure

ü    Derivative mix

ü    traffic

ü    Pradesh

Update

·        It is the process used to communicate with target customers who are interested in the product.

·        Example:

ü    Advertising

ü    Sales Promotion

ü    Private Selling

ü    Direct Marketing

 

Humans

·        Sales staff with specialised and loving moral values.

 Procedure

·        Refers to the mode of operation required to provide the service and the post sales service.

Physical Environment

·        It is to create the environment and environment of the place of service in order to provide a high value to the customers.

 

4Cs Customer Mixes

1.             Customer needs and wants

2.            Cost-cost

3.            convenience- convenience

4.            Communication-Communication

 

Correlation between Vendor Variable (4Ps) and Customer Variable

 

                     4ps  

1.                 Product

2.                 price

3.                 location                

           Update                                                        

                            4cs

1.     Consumer Demand Option

2.     Cost

3.     convenience

          Communication

Classification of marketing mix  according to SIVA

  

·        Solution.

·        Information. 

·        Value.

·        Religion

 

 Vendor Classification of Buyer variable  according to SIVA method.

 

  4Ps.                SIVA.                            4Cs

Product.          Solution.              Customer needs & wants

Promotion.     Information         Communication

Price.               Value.                    Cost

Place.              Access.                  Convenience

 

 

The Importance of Marketing Mix for Successful Marketing

 

1.                 Sales can be increased

2.                 Be consumer attractive

3.                 Encourage the purchase of goods

 

 

 

Sales Forecasting

 

·                    It determines the quantities of goods and services that are expected to be presented to the market in a timely manner.

·                    It has been identified that the existing competitor will supply  4500 units  per month for any product after ascertaining that there is a demand of  5000  units per month within the relevant area.

·                    There is a market network of  500  units.Can this 500 units be filled or only a part can be provided? The new entrepreneur has to decide.

Marketing Income and Expenses

 

 

Sales income

Expected sales revenue    =    Number of units of expected sales   ×

Expected selling price per unit

 

Marketing Cost

·        Marketing costs are all costs associated with the marketing of goods and services.

Example:

ü Marketing Manager Salary

ü Marketing Employee Salaries

ü The projected data regarding the company's total  marketing income and expenses are included in the marketing plan.

Sustainable Marketing Assets

·        These are long-term assets that are directly involved in the marketing and distribution functions of the business.

·        Example:

Land, Building & Machinery

 

 

      Marketing Plan