10 step marketing plan draft wolcott
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prelimiary draft... just filling out some detailsTRANSCRIPT
10 STEP Marketing Plan for Red Ribbon Cakes
Joanne WolcottFebruary 2011
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Product Photo here
Put yourBlog Address
Here.
This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.
The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.
When appropriate, data are “masked” so as not to create unexpected conflicts.
The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes.
Disclaimer
1. Primary Target Market
What do they need, want, demand2. What are they choices3. Where is the opportunity4. How big is the market (3Cs)
Steps 1 to 5
Summary headline of your PTM and market
1) Class A and B Families who want to celebrate togetherness and make it special
2) They need a good tasting cake that suites the specialty of the occasion
3) For the longest time goldilocks has the market share for commercial cakes
4) The gap competition is always about great tasting food
5) The market size is with in the class A and B
Celebrates Life Beautiful Moments
6. Product7. Price 8. Promo 9. Place 10. Generic Winning Strategy of Mix
Steps 6 to 10
Summary headline of the marketing mix & strategy
Products- there are cakes, pastries, breads, pasta miryenda meals, set meals, custom cakes,rolls
Price cakes are from Php 350-595 Cake rolls 210-300 Pastries Php120-350 Miryenda meals average Php 150
Marketing Mix and Strategy
Promo- print, tv and radio. More emphasis on print
Place- major malls, inside jolibee stores and free standing stores with in food district
Appeals to the emotion of the customers
1. Describe the primary target market (PTM)*
Demographics (Age range: must have a start and end age*, sex, social class, marital status)
Lifestyle (what they do) Behavior (when consumed, how
much, how frequent, special concerns)
*Exclusion of a certain demographic group in PTM does not mean they do not buy the product. Some do buy, but majority don’t which is why limited marketing resources are best focused on PTM
They are targeting families that are in the class A and B. Has emphasis on the women who chooses food for the family
They are well to do in the society. All of the commercials are in English
They target people who views food as a sign for to gather people and have “bonding time”
Class A and B families who want to make their togetherness special
6.1 percent upper class, 4.2 percent upper-middle class, 57.1 percent middle class (http://opinion.inquirer.net/inquireropinion/columns/view/20100710-280190/NSCB-tries-to-count-the-rich
) Total pop of the Phil 92 million
approximately 62,008,000 target market (adding all the upper class, upper middle, and middle class)
2. My PTM’s NWD
Needs from Maslow’s hierarchyWants determine choiceDemands for them to buy the
productNote: There may be multiple answers for needs, wants demands. Of these answers, underline and use bold font for the best answers. See examples that follow
Describe your PTM needs
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Self-Actualization Needs(Self-
Development & Realization)
Esteem Needs (Recognition,
Status)
Social Needs (sense of belonging, love)
Safety Needs (security, protection)
Physiological needs (food, water, shelter)
Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler
I want to belong to a loving familiy
I am happy with my family
2. PTM’s needs, wants & demands
Needs: list of needs from Maslow’s hierarchy that the product meets.
Wants: what variables are used by the primary target market to choose among several products that can satisfy the same needs.
Demands: for the PTM to finally decide to buy the product, what characteristics, values, benefits or selling propositions must the product have?
** for needs, wants & demands, underline the top 1or 2 variables that are most important to the PTM
3a. Direct and indirect products that address my PTM’s NWD
List of Competitors products/ brands
Determine the variables that affect choice of product, brand
3b. Create 2 Positioning Maps
1st Map: 2 x 2 Matrix showing the 2 Most Critical Variables for Consumer choice
This 1st Map should allow differentiation/ non-clustering of the direct competitors
Example: Price vs. AgeSize of bubbles= represent relative market
shares of the brands2nd Map: Functional Benefit vs. Brands/ Variants
Example of a 2x2 competitive position map for toothpaste
Price/ Age Matrix
0-13 yrs 13-24 yrs 25-49 yrs 50yrs up
High price
Low Price
Closeup
Colgatekids
ColgateTotal + whiten
Sensodyne
HapeeUnique
HapeeComplete
+ whitening
Price vs. Age Matrix as of 2011
HapeeFresh
CloseUp
whiten
ColgateSensitive
ColgateFresh
Unique
Example of a benefit positioning vs. brand map for toothpaste
Benefit Positioning vs. Brand Matrix
as of 2011
Functional BenefitColgate
KidsColgate
Fresh
Colgate Total+
WhiteningColgate Sensitive
Close Up Gel
Close Up White
Hapee Kids
Hapee Fresh
Hapee Total + Whiten Unique Sensodyne
Prevents Tooth DecayWhitens TeethFreshens BreathMouthwash in 1Fresh ConfidenceConfidence Up Close to KissProtect 24 hoursFun for kidsSaves moneyReduces teeth sensitivity
Harder to stand out amidst the competitive clutter.
4. Identify the gap between customers and competition
Where is the marketing opportunity?
What NWDs are not being addressed?
What can be the unique selling proposition for the new product (totally new or repositioned.)
5a. Estimate the market size using competitor data
1. Top 7000 Corporation Data or news Total Sales from 1 product companies % of sales from multi-product
2. vs. known Industry size comparisons3. vs. 1-1 suppliers4. Visual observation- warehouse5. Pirating personnel or garbage6. Illegal interview7. “Share of Shelf”
5b. Estimate the market size using company data
1. Claimed market share2. Guesstimate on market share
Fair share of market Distribution extent
3. Historical sales
5c. Estimate the market size using customer data
1. Usage per day or per year Per person Per household
5. Decide on market size in pesos, not in number of people1. Competitor data=
2. Company data =
3. Customer Usage data =
Use instinct and best business judgment to finalize market size
6a. Photo of product category
Show a product shotYour product and your competitorswith, without box as they look in the
supermarketAll pack sizesAll variantsAll major brands
6a. Show how product looks vs. competition
Product shot 1 of direct competitors
Product shot 2 of indirect competitors
How product looks in supermarket shelves
or point of sales
6b. Product Description
Describe the physical features, specifications, attributes of the product.
Info may be in product packaging, label, brochures or website.
7. Price
Get prices of your product Creatively compare vs.
competitors across different pack sizes and variants
Quantify the price difference in % terms vs. competitors
Conclude on what pricing strategy is being used
8a. Which of these modes does your product use?** Pls. rank most used, 1-highest use
8a. Your products Promotions
Describe what you propose to do/ product is currently doing vs. the 8 modes of communications.
Show executions of this (from websites, print ads, actual commercials)
8a. Samples of Promo
Samples
This can be in multiple slides
8b. Competitor promo
Show also how your key competitors communicate
Their commercialsTheir websites
And why your communication stands out
8b. Competitor promo
Samples
Can be multiple slides
9. Place
Where is your product available? Supermarkets, sari-sari stores,
convenience outlets, drugstores Nationwide or in key areas only? Method of delivery (some products
can be delivered to your home, ordered via internet, phone orders, etc.)
10. What is the generic winning strategy?
Which of the 4 strategies are being used? (bold and underline to most dominant strategy) Low Cost Producer Supply and Distribution Leverage Differentiation Niche
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SUMMARY
1. Identify your target (PTM)2. What do they need, want,
demand (NWD)3. What are they choices
(competitors)4. Where is the opportunity (gap)5. How big is the market (3Cs)
Steps 1 to 5
Summary headline of your PTM and market
6. Product7. Price 8. Promo 9. Place 10. Generic Winning Strategy of Mix
Steps 6 to 10
Summary headline of the marketing mix & strategy
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YOUR ASSIGNMENT AS A MARKETING STUDENT
Your Assignment
Use this template to make your marketing plan for a product or company that will also be the topic of your STRAMA
Follow power presentation principles
Grading
Customers (PTM, NWD)- 20% Competition (Positioning Map,
Market Size) 30% Company (4Ps, Strategy)- 40%
Power Principles Formatting- 10%