MARKETING PLAN

[BEN 2010] introduction to cyberpreneurship

DEFINITION MARKET? (1st Lecture)

MARKETING A process to identify, anticipates and

satisfying commercial customers community

MARKETING PLAN A detailed system describing a specific

action to persuade the commercial customer to buy the goods and/or services you offer.

FUNCTIONS

A SPECIFIC S.O.P.(Manual) to compete in the marketplace

• What is the best way to penetrate students market?

A MEASURABLE predicted outcome [calculated risk]• At the end of the day, how much sales you are targeting?

An ATTAINABLE marketing effort• If we sells the same product like the rival, what is the chances we

can sell more? Identify your REALISTIC target market

• Student market vs. Staffs market? What is the best price?

A TIMELY plan to generate revenues for your business• How long to deliver 1 order? How long to close 1 sales?

OUTLINES

PAST Where have we been?• Perform

Market SWOT Analysis

PRESENT Where do we want to go?

• Marketing Objectives for the next business window

FUTURE How do we get there?• Specific

Marketing Strategies that will be implemented

TIMELINE

The challenge for an entrepreneur isto find a RIGHT customer

@ a RIGHT time @ a RIGHT place

EXAMPLE: The challenge for

sport-tees.com is to find:- a RIGHT customer

(sport t-shirt fan) @ a RIGHT time

( When Customer feel like want to buy)

@ a RIGHT place (Online E-Commerce

Website)

STEPS OF MARKETING PLAN

Defining Business Situation • Week 10-12 Business Venture Project

Defining Target Market• Market Segmentation e.g. staffs, students, visitors

Analyzing SWOT

Establish Marketing Goals

Defining MP Mix

Implementing MP

Monitoring & Controlling MP

MARKETING MIX COMPONENTS

Product Place

Price Promotion

PRODUCT•Value

Proposition•Uniquen

ess – Special /Limited Edition/2 in 1

•Features – High Quality/ Reliable

•Benefits –Easy to use / Healthy

•Technology - Latest Innovation

Product Strengths & Weaknesse

s

•New / Unknown -Its new and trendy

•Existing / Known – Its classic and proven

Brand Name / Image

EXAMPLE 1:

PLACE

What type of

business activity

B2B / B2C

Specific/NicheMass

Location & Logistics

Physical Kiosk• Misri Plaza• Central Plaza• Hostel• Library

Online • Web portal• Blogsites• Facebook

EXAMPLE 2:

MASS MARKET

PRO MARKET

PRICE

•Basic cost

•Variable cost

Know your product cost

•In percentage [%]

Profit Margin

•Direct competitors (Same product Vs Same product)

•Indirect ( Product Different but in same Product Group)

Competitors price

•Skimming or Penetrating

Pricing Strategy

•Per unit

•Across the products offering ( package)

Price tag to your product

EXAMPLE 3:

Vs

RM 2.20

RM 2.00

PROMOTION

Brand & Business Tagline• Emotionally connected with customers.

Sales Promotion• Individual Discount (%)

• Buy 1 Free 1• Buy More, Discount More e.g. 1 unit = RM 3.50, buy 3 = RM 10

Personal Selling• Talk 1 to 1 to customer

Advertising • Word of Mouth

• Brochures/Pamphlets• Online

Viral Marketing• SMS, video clips (YouTube), applications (iApps), facebook etc

EXAMPLE 4:

RECAP: MARKETING PLAN

http://www.seo-package.co.uk/marketing-for-consumers/

PAST

CURRENT

Quote to ponder………

“You now have to decide what 'image' you want for your

brand. Image means personality. Products, like

people, have personalities, and they can make or break them in the market place."

David Ogilvy (1911-1999) : Father of Advertising