Marketing Plan
MARKETING PLAN: PREMIUM PAMPERS HYGIENE . Situational Analysis P&G penetrated the Malaysian market around 1987 through its acquisition with Richardson Vicks Company. The disposable diaper brand Pampers was and still is among P&G's famous brand names in Malaysia. Since the entry of P&G into our market, Pampers has been the heritage brand for disposable diapers in Malaysia throughout the years. .1 Malaysian Market Summary The differentiation in the Malaysian diaper industry is one of a differentiated Oligopoly whereby only a small number of very large manufacturers control most of the disposable diapers industry. P&G being one of the largest manufactures of disposable diapers invests million of dollars each year in product innovation as well as R&D (research & development) which includes studying it's business market in terms of market segment, market needs and targeted customer. This marketing plan is to introduce pampers brand disposable diapers for the Nouveau Rich families in Malaysia. In order to effectively market and sell its new product, P&G studied the Malaysian market in terms of the focused market segment, targeted customers and the market needs. Target Market: "Malaysian Nouveau Rich families." Wikipedia defines Nouveau Rich "as a person who has acquired considerable wealth within his or her generation." In other words, nouveau rich families are
Marketing Research
Marketing Research A market occurs when buyers and sellers come together to trade. Marketing is about meeting the needs and wants of customers. Marketing is a business wide function - it is not something that operates alone from other business activities. Marketing is about understanding customers and finding ways to provide products or services which customers demand. Marketing activities are numerous and varied because they basically include everything needed to get a product off the drawing board and into the hands of the customer. The broad field of marketing includes activities such as: * Designing the product so it will be desirable to customers by using tools such as marketing research and pricing. * Promoting the product so people will know about it by using tools such as public relations, advertising, and marketing communications. * Setting a price and letting potential customers know about your product and making it available to them. Usually, before launching a new product, organisations have no real idea of how the features and benefits of that product will be perceived by others or whether they will be prepared to buy it. Others may not necessarily value the same things in the same way as desk top guesses may suggest. That is why it is crucial to conduct marketing research - to find out what customers want. There are 3 good reasons why a business should
Marketing Research
Marketing Research TOPICS Page No. Chapter 1: MIS 64 .1 Concept of MIS .2 Key components of MIS a) Internal records b) Marketing intelligence activities c) Marketing research d) Marketing decision support system CHAPTER 2: BASICS OF MARKETING RESEARCH 69 2.1 TYPES OF RESEARCH 2.2 DEFINITION OF MR 2.3 Features of MR 2.4 Applications of MR 2.5 Limitations of Marketing research Chapter 3: 74 The Marketing research Process Chapter 4 : Developing the research plan 77 4.1 Data Source 4.2 Research Approaches Chapter 5: Research Instruments 86 5.1 Types of Questionnaires 5.2 Types of Questions 5.3 Scaling techniques/ scales of measurement 5.4 Steps involved in Questionnaire construction 5.5 sample questionnaires 5.6 Consumer PANELS/omnibus panels Chapter 6 SAMPLING PLAN :
marketing research
Task 4-SECONDARY RESEARCH Secondary Research This involves data that has already been collected by other organisations or companies. It is also called desk research. Secondary Research is the most commonly used method of research adopted by businesses. In this instance, for Sony PS3 to carry out this form of research, it must use some forms of findings like press article, reports from other surveys or research carried out and through studies. This form of research is very cheap compared to primary research. Data obtained in this form of research is second hand data, which means that data has already been used by other businesses or organisations to get the best out of it. On the other hand, this form of data is used backup primary research data. This form of data can be useful, because it involve large amount of existing data, which the business can use to do comparison between data obtained and also used to correct or rectify errors on other forms of research. Secondary data can be of great use to different forms of research. In terms of using the internet, it can be used to allocate data and on the other hand also used to save or store data. Secondary data can be obtained in large amounts from organisations, the media, government and data banks. This form of data can also be used in setting organisation cases in wider contexts. Advantages of Secondary Research *
Market research
Market research: Market research is the collection of information or data so it is possible to have a good understanding about what is happening in the market. A business's marketing department must know about the economic trends along with customer views. By using this information they can create a marketing plan which will meet their own needs as well as their consumers. Market research can be done to find out the following: * Find data and information which helps the business understand what customers want now or in the future * Find out whether current products are satisfying customers * Test new products by asking potential customers to try out the product * Test the effectiveness of an advertising campaign * Find out the active strategies of competitors There are two main types of research: * Primary research also known as Field research * Secondary research also known as Desk research Primary Research/field research Primary research involves getting new data for a specific purpose. The data collected is data which does not already exist. The marketing department of a business or a specialist research organisation can provide primary research. Below are the different ways of obtaining primary data: * face-to-face interviews * using questionnaires * by telephone * by post Sometimes potential consumers are asked to test products, and their responses are
market segmentation
TASK 3 - MARKET SEGMENTATION Market Segmentation: is defined as dividing a large population into separate groups or markets based on a set of common characteristics, each group representing a distinct target market with its own requirements for a marketing program. There are several important reasons why Sony PS3 segment their markets, Among these are the following: * Enhanced profits for its products; consumers have different disposable income. They are therefore different in how sensitive they are to price. By segmenting markets, businesses can raise average prices and subsequently enhance profits. * Better matching of customer needs; Customer needs differ. Creating separate offers for each segment makes sense and provides customers with a better solution. * Better opportunities for growth; Market segmentation can build sales. For example, customers can be encouraged to trade up after being introduced to a particular product with an introductory, low priced product. * Retain more products; customer circumstances change, for example they grow older, form families, change jobs or get promoted, change their buying patterns. By marketing products that appeal to customers at different stages of their life (life-cycle), a business can retain customers who might otherwise switch to competing products and brands. * Target marketing communications; businesses need to
market segmentation
M3 Target Marketing Target Marketing is making all marketing decisions, a important point on a particular amount of people who you want to reach. Target markets are normally different types of buyers who have similar common needs, desires and characteristics that a business chooses on serving. A business will normally need to recognize their target market in order to sort its everyday jobs and manage with the normal demands of this particular market place. Target marketing can be very helpful to a business as it outlines the marketing strategy. By using marketing strategy it's useful as it helps a business be more able and successful on aiming on their chosen target market that they wish to please. Not only can target marketing benefits the business but it can also be helpful for the customers that a business has chosen on pleasing as they are presented with what they wanted which meets their needs and wants. In order to satisfy these desires a business has to assess the different segments which are available and decide how many to please and which ones to serve. As it's not simple to segment a market a company will once again need to do market research the different variables of the markets and combine with other variables to find its perfect target market. As the buying public is not one single market and is made up of many different market segments- different
Product Life Cycle
Product Lifecycle The Product Life Cycle is based upon the biological life cycle. For example, a seed is planted (introduction); it begins to sprout (growth); it shoots out leaves and puts down roots as it becomes an adult (maturity); after a long period as an adult the plant begins to shrink and die out (decline). In theory it's the same for a product. After a period of development it is introduced or launched into the market; it gains more and more customers as it grows; eventually the market stabilises and the product becomes mature; then after a period of time the product is overtaken by development and the introduction of superior competitors, it goes into decline and is eventually withdrawn. However, most products fail in the introduction phase. Others have very cyclical maturity phases where declines see the product promoted to regain customers. Introduction. The need for immediate profit is not a pressure. The product is promoted to create awareness. If the product has no or few competitors, a skimming price strategy is employed. Limited numbers of product are available in few channels of distribution. Growth. Competitors are attracted into the market with very similar offerings. Products become more profitable and companies form alliances, joint ventures and take each other over. Advertising spend is high and focuses upon building brand. Market share tends to
Price elasticity of demand.
Price Elasticity of Demand Price Elasticity of Demand is the responsiveness of quantity demanded to a change in price. PED = % change in quantity demanded % change in price Normally we would expect PED to have a negative sign since either price or quantity in the equation above will be a minus figure. The Value Ignoring the sign and concentrating on the absolute value of the figure, tells us whether demand or supply is elastic or inelastic. Below is a summary of the possible values. Elastic (PED > 1) where a change in the price causes a proportionately larger change in demand. Inelastic (PED < 1) where a change in the price causes a proportionately smaller change in demand. Unit elasticity (PED = 1) where demand changes by the same amount as the price. Examples Here are some examples of how to calculate the price elasticity of demand: . When the price of salt increases by 50% the quantity demanded falls by 5%. PED = -5%/50% = -0.1 2. When the cost of mortgages goes up by 5% the quantity demanded falls by 15%. PED = -15%/5% = -3.0 3. When the price of sports shoes goes up by 10% the quantity demanded falls by 5%. PED = -5%/10% = -0.5 4. When the price of Reeboks increases by 10% demand falls by 15%. PED = -15%/10% = -1.5 Factors Affecting The Price Elasticity of Demand . The ease of substitution of another good or service. 2. The proportion of income
What is customer service?
P4 What is customer service? Customer service is when an organisation will provide the customers with a service that is friendly and making the customers feel at home. By the organisation delivering this they will be able to gain and build their customer base and when they achieve this they will have to maintain and keep these customers because without the customers they will not be able to survive in the market. When it comes down to customer service it involves three different stages which are pre, during and post transactional. Pre Before the customers buy the product there are many things which are done so that when the customer does come they will be provided with a excellent customer service. An example of this is employees getting training before they start working with British airways. With any job that is face to face with the customers, the organisation will always provide the employee with a handbook which will include details on what they expect from they employee and how to sort out situations if the occur. In relation to BA they will always send out their employee on training so that when they are working for BA they will know what to do and how to do it also the flights attendants will be trained so that they a will know what to do in an emergency and before lift off they will explain what the passengers will need to do in an emergency. During During
