Ent300 MKTG Plan

MARKETING PLAN
LEARNING OUTCOMES
Understand the importance of preparing a

marketing plan
Describe the steps in preparing a marketing
plan
Prepare a marketing plan
INTRODUCTION
A well prepared marketing plan helps
entrepreneurs to:
evaluate market acceptance.
develop strategies to market products or
services of the business.
identify required resources to execute the
marketing strategy.
estimate marketing financial requirement.
Steps in Marketing Plan
Step 1: Product & Service
Step 2: Target Market
Step 3: Market Size
Step 4: Competitor Analysis
Step 5: Marketing Strategy
Step 6: Marketing Personnel
Step 7: Marketing Budget

1. Determining product or service
Describing product or services.

State clearly the value and benefits of
product or service to customers.
Capitalize on the uniqueness or strengths of
the product or services such as on its
formulation, ingredients used, safety, ease of
use, life span, flexibility, assortment, location,
operation hours, personalization, extended
warranty etc.
2. Identify Target Market
Who is the consumer of the product or
service?
What is their common needs or wants
that would be satisfied by the product
or service?
What is their common characteristics?
Market Segmentation
Broad Factors Example of Factors Example of Segmentations
Demographic a. Gender: male , female
b. Age: teenager, youth, adult, elderly
c. Education level: high school, tertiary A retail outlet selling toys for big boys with
education tick pocket.
d. Income: Low, middle, high
Psychographic Lifestyle An organic food restaurant targeting the
b. Preferences/ taste health conscious group of customers.
c. Beliefs
Geographic a. By region A hypermarket whose target customers
b. By states/district are residents who live within 5km radius
c. By parliamentary from the outlet
d. Rural versus urban
e. By population density
Buying behaviour a. Units of purchase A cosmetic and toiletries producer
b. Methods of payment targeting to sell to companies who intend
c. Location of purchase to promote their own labels.
d. Frequency of purchase
e. Methods of delivery
3. Market Size
❑ Total potential purchase of target market

❑ Expected sales to customer
❑ Translated into monetary value (RM)
❑ Show sales for 3 years (1st yr monthly & rest
yearly)
❑ Growing, remain the same or shrinking
Market Size
Population: Residential area of 2500 households
Assumptions:
• 40% consume product/ service at least once a week with average
spent per visit is RM20
• 20% do not frequent the laundry on a monthly basis with average
spent at least RM30
Target customer:
 Frequent customer = 2500 household x 40% x RM20 x 4 weeks =
RM80,000
 Infrequent customer = 2500 households X 20% X RM30 = RM15,000
 Estimated Total Market Size = RM80,000 + RM15,000 = RM95,000
Sales Forecast
Month Primary Sales – Secondary Sales – Total
Laundry (RM) Detergent & Drinks (RM) Sales (RM)
1 (new entry) 10,000 150 10,150
2 15,000 150 15,150
3 20,000 150 20,150
4 20,000 150 20,150
5 20,000 150 20,150
6 (school holidays) 25,000 200 25,200
7 20,000 150 20,150
8 20,000 150 20,150
9 20,000 150 20,150
10 20,000 150 20,150
11 20,000 150 20,150
12 (school holidays) 25,000 200 25,200
TOTAL SALES 235,000 1,900 236,900
4. Competitor Analysis
 Who are the competitors
 Identify competitor strengths and
weaknesses
 Calculate market share before and
after
Translated in percentage (%)
COMPETITOR ANALYSIS
STRENGTHS WEAKNESSES
Competitor A
Competitor B
Competitor C
MARKET SHARE
BEFORE AFTER
Competitor A 50 48
Competitor B 30 28
Competitor C 20 18
YOU 6
TOTAL 100 100

5. Marketing Strategy
To enable business to plan for its limited
resources in order to achieve stated
marketing objectives
The key idea is to deliver customer
satisfaction yet provide business with a
competitive advantage
4 main strategies (4Ps):
❑ Product , Pricing, Place & Promotion
a. Product Strategy
Product is a physical item that can be

seen, owned, used or consumed
Ideas and creations of the minds can
also be regarded as product
Service is intangible and cannot be
seen or owned, but is useful, can be
experienced and able to satisfy
customer needs and wants
Product strategy refers to a product,
service or a combination of both
Product Dimension
Product attributes
Quality
Design
Brand name
Packaging
Labeling
Warranty
After sales service
b. Pricing Strategy
▪ Price is the value exchanged between

the seller and the buyer in order for the
buyer to possess, use or experience the
product or service offered.
▪ Most often, price is in the form of
monetary value paid by the buyer to
obtain the product or service
Common Pricing Methods:
Based on Cost (Cost + Desired Margin)
Based on Perceived Value
Based on Competition
Price Tactics:
Discounting
Purchase with purchase
Psychological pricing
Product bundle pricing
c. Place Strategy
Place strategy refers to the decision
made on the distribution line for the
business.
 How product or services reach
target consumers.
Distribution strategy differs for
consumer product and industrial
product.
Distribution Strategy
Manufacturer/Producer
Wholesaler Wholesaler
E-Intermediaries
Retailer Retailer
Consumer
d. Promotion Strategy
Promotion is any coordinated effort
taken to supplement the product,
price and place strategies in order to
achieve marketing objectives.
Strategies:
❑ Advertising
❑ Sales promotion
❑ Personal Selling
❑ Publicity
Outdoor
• Billboards
• Banners
• Transportation
Printed
• Newspaper
Electronic and Digital
• Magazines
•Television
• Yellow pages •Radio
• Brochures •Internet
• Business cards •Sort messaging system
Advertising is a paid, non personal sales effort

through a medium to influence a large
number of consumers.
Sales promotion is promotional
activities or incentives carried out or
offered within a set time frame to
influence purchase
Common sales promotion strategies:
 Rebates
 Coupons
 Purchase-with-purchase
 Samples
 Point-of-purchase promotion
 Sweepstakes
 Extended warranty
Personal Selling
 Sales presentation conducted by a trained
sales person to influence potential
customers.
Often used for demonstration or explanation.
Publicity
 Efforts taken to develop and maintain good
relationship with the public to ensure good
favorable public image of the business.
 ie influencer, artists etc
Marketing Strategies
STRATEGIES DESCRIPTIONS
Product
Price
Promotion
Place
6. Marketing Personnel
▪ Identify how many marketing personnel
required
▪ Draw up table of renumeration if you have
more than one personnel. If not directly
put in marketing budget under working
capital (salary, EPF, SOCSO).
Job Title Staff Monthly EPF SOCSO Total (RM)
Salary (A) 10% (B) (2%) (C) (A+B+C)
Sales Consultant 2 2,200

Promoter 1 1,500
TOTAL 4 3,700
7. Marketing Budget
▪ Refers to expenses incurred in planning for
the marketing activities.
Item Capital Expenditure Working Capital (RM) Other Expenses
(RM) (RM)
Signboard 4,000
Website Optimization 2,000
Marketing Personnel 4,520
Print Advertising 400
Coupons & Vouchers 1,500
TOTAL AMOUNT 4,000 6,520 1,900

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MARKETING PLAN

Understand the importance of preparing a

Step 2: Target Market

Step 3: Market Size

Step 4: Competitor Analysis

Step 5: Marketing Strategy

Step 6: Marketing Personnel

Step 7: Marketing Budget

Describing product or services.

❑ Total potential purchase of target market

TOTAL 100 100

Product is a physical item that can be

▪ Price is the value exchanged between

Advertising is a paid, non personal sales effort

Sales Consultant 2 2,200

Website Optimization 2,000

Marketing Personnel 4,520

Print Advertising 400

Coupons & Vouchers 1,500

TOTAL AMOUNT 4,000 6,520 1,900

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