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10 step marketing plan draft wolcott

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10 step marketing plan draft wolcott

  1. 1. 10 STEP Marketing Plan for Red Ribbon Cakes<br />Joanne Wolcott<br />February 2011<br />Product <br />Photo here<br />Put your<br />Blog Address<br />Here. <br />1<br />
  2. 2. This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.<br />The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.<br />When appropriate, data are “masked” so as not to create unexpected conflicts.<br />The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes.<br />Disclaimer<br />
  3. 3. Primary Target Market<br /> What do they need, want, demand<br />What are they choices<br />Where is the opportunity<br />How big is the market (3Cs)<br />Steps 1 to 5Summary headline of your PTM and market<br />
  4. 4. Class A and B Families who want to celebrate togetherness and make it special<br />They need a good tasting cake that suites the specialty of the occasion<br />For the longest time goldilocks has the market share for commercial cakes<br />The gap competition is always about great tasting food<br />The market size is with in the class A and B<br />Celebrates Life Beautiful Moments<br />
  5. 5. Product<br />Price <br />Promo <br />Place <br />Generic Winning Strategy of Mix<br />Steps 6 to 10Summary headline of the marketing mix & strategy<br />
  6. 6. Products- there are cakes, pastries, breads, pasta miryenda meals, set meals, custom cakes,rolls<br />Price cakes are from Php 350-595<br />Cake rolls 210-300<br />Pastries Php120-350<br />Miryenda meals average Php 150 <br />Marketing Mix and Strategy<br />
  7. 7. Promo- print, tv and radio. More emphasis on print<br />Place- major malls, inside jolibee stores and free standing stores with in food district<br /> Appeals to the emotion of the customers<br />
  8. 8. 1. Describe the primary target market (PTM)*<br />Demographics (Age range: must have a start and end age*, sex, social class, marital status)<br />Lifestyle (what they do)<br />Behavior (when consumed, how much, how frequent, special concerns)<br />*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<br />
  9. 9. They are targeting families that are in the class A and B. Has emphasis on the women who chooses food for the family<br />They are well to do in the society. All of the commercials are in English<br />They target people who views food as a sign for to gather people and have “bonding time”<br />Class A and B families who want to make their togetherness special<br />
  10. 10. 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)<br />Total pop of the Phil 92 million approximately 62,008,000 target market (adding all the upper class, upper middle, and middle class)<br />
  11. 11. 2. My PTM’s NWD<br />Needs from Maslow’s hierarchy<br />Wants determine choice<br />Demands for them to buy the product<br />Note: 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<br />
  12. 12. Describe your PTM needs<br />I am happy with my family<br />I want to belong to a loving familiy<br />Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler<br />12<br />
  13. 13. 2. PTM’s needs, wants & demands <br />Needs: list of needs from Maslow’s hierarchy that the product meets. <br />Wants: what variables are used by the primary target market to choose among several products that can satisfy the same needs.<br />Demands: for the PTM to finally decide to buy the product, what characteristics, values, benefits or selling propositions must the product have?<br />** for needs, wants & demands, underline the top 1or 2 variables that are most important to the PTM<br />
  14. 14. 3a. Direct and indirect products that address my PTM’s NWD<br />List of Competitors products/ brands<br />Determine the variables that affect choice of product, brand<br />
  15. 15. 3b. Create 2 Positioning Maps<br />1st Map: 2 x 2 Matrix showing the 2 Most Critical Variables for Consumer choice<br /> This 1st Map should allow differentiation/ non-clustering of the direct competitors<br />Example: Price vs. Age<br />Size of bubbles= represent relative market shares of the brands<br />2nd Map: Functional Benefit vs. Brands/ Variants<br />
  16. 16. Example of a 2x2 competitive position map for toothpaste<br />as of 2011<br />Price vs. Age Matrix<br />Colgate<br />Fresh<br />Colgate<br />Sensitive<br />Colgate<br />kids<br />Colgate<br />Total + <br />whiten<br />Close<br />Up<br />whiten<br />Close<br />up<br />Sensodyne<br />Hapee<br />Fresh<br />Hapee<br />Complete <br />+ whitening <br />Hapee<br />Unique<br />Unique<br />
  17. 17. as of 2011<br />Example of a benefit positioning vs. brand map for toothpaste<br />Benefit Positioning vs. Brand Matrix<br />Harder to stand out amidst the competitive clutter. <br />
  18. 18. 4. Identify the gap between customers and competition<br />Where is the marketing opportunity?<br />What NWDs are not being addressed?<br />What can be the unique selling proposition for the new product (totally new or repositioned.)<br />
  19. 19. 5a. Estimate the market size using competitor data<br />1. Top 7000 Corporation Data or news<br />Total Sales from 1 product companies<br />% of sales from multi-product <br />2. vs. known Industry size comparisons<br />3. vs. 1-1 suppliers<br />4. Visual observation- warehouse<br />5. Pirating personnel or garbage<br />6. Illegal interview<br />7. “Share of Shelf”<br />
  20. 20. 5b. Estimate the market size using company data<br />Claimed market share<br />Guesstimate on market share<br />Fair share of market<br />Distribution extent<br />Historical sales<br />
  21. 21. 5c. Estimate the market size using customer data<br />Usage per day or per year<br />Per person<br />Per household<br />
  22. 22. 5. Decide on market size in pesos, not in number of people<br />Competitor data=<br />Company data = <br />Customer Usage data = <br />Use instinct and best business judgment to finalize market size<br />
  23. 23. 6a. Photo of product category<br />Show a product shot<br />Your product and your competitors<br />with, without box as they look in the supermarket<br />All pack sizes<br />All variants<br />All major brands<br />
  24. 24. 6a. Show how product looks vs. competition<br />Product shot 1 <br />of direct competitors<br />Product shot 2 <br />of indirect competitors<br />How product looks in <br />supermarket shelves<br /> or point of sales<br />
  25. 25. 6b. Product Description<br />Describe the physical features, specifications, attributes of the product.<br />Info may be in product packaging, label, brochures or website.<br />
  26. 26. 7. Price<br />Get prices of your product <br />Creatively compare vs. competitors across different pack sizes and variants<br />Quantify the price difference in % terms vs. competitors<br />Conclude on what pricing strategy is being used<br />
  27. 27. 8a. Which of these modes does your product use?** Pls. rank most used, 1-highest use<br />
  28. 28. 8a. Your products Promotions<br />Describe what you propose to do/ product is currently doing vs. the 8 modes of communications.<br />Show executions of this (from websites, print ads, actual commercials)<br />
  29. 29. 8a. Samples of Promo<br />Samples<br />This can be in multiple slides<br />
  30. 30. 8b. Competitor promo<br />Show also how your key competitors communicate<br />Their commercials<br />Their websites<br />And why your communication stands out<br />
  31. 31. 8b. Competitor promo<br />Samples<br />Can be multiple slides <br />
  32. 32. 9. Place<br />Where is your product available?<br />Supermarkets, sari-sari stores, convenience outlets, drugstores<br />Nationwide or in key areas only?<br />Method of delivery (some products can be delivered to your home, ordered via internet, phone orders, etc.)<br />
  33. 33. 10. What is the generic winning strategy?<br />Which of the 4 strategies are being used? (bold and underline to most dominant strategy)<br />Low Cost Producer<br />Supply and Distribution Leverage<br />Differentiation<br />Niche<br />
  34. 34. 34<br />SUMMARY<br />
  35. 35. Identify your target (PTM)<br />What do they need, want, demand (NWD)<br />What are they choices (competitors)<br />Where is the opportunity (gap)<br />How big is the market (3Cs)<br />Steps 1 to 5Summary headline of your PTM and market<br />
  36. 36. Product<br />Price <br />Promo <br />Place <br />Generic Winning Strategy of Mix<br />Steps 6 to 10Summary headline of the marketing mix & strategy<br />
  38. 38. Your Assignment<br />Use this template to make your marketing plan for a product or company that will also be the topic of your STRAMA<br />Follow power presentation principles<br />
  39. 39. Grading<br />Customers (PTM, NWD)- 20%<br />Competition (Positioning Map, Market Size) 30%<br />Company (4Ps, Strategy)- 40%<br />Power Principles Formatting- 10%<br />