DEFINITION OF MARKETING ASPECT

Marketing is a business activity that determines the extent to which goods/services will be

generated and the project that is needed or demanded. It involves planning, pricing, promoting and

distributing in accordance to the wants and needs of potential customers. It is also considered as the

lifeblood of every business transaction because it has the strategic way to show that the costumers need

our product. It is also a way to find opportunities, introduce and market the product to achieve

customer’s loyalty.

HISTORY OF THE INDUSTRY

In the Industrial Revolution in the 18 th century, manufacturing through machines began in

England in 1760 and came to United States by the end of 18 th century. The dramatic reduction of

material cost and production time impacted several industries. The shift from man to machine caused

changes in the market aspect also. The iron industry also made some major developments during this

period. As time goes by, Englishmen invented machines that began to be used to help different aspect of

production.

The introduction of Assembly line was the next shift in manufacturing industry. A car

manufacturer, named Random E. Olds, was the first who patented the assembly line in 1901. His

method increased their output by 500 percent in one year. And it also caused to drastically decrease

their prices. The credited father of the assembly line, Henry Ford, improved Old’s system by using

moving platforms and conveyor system. Having these, the workers could just assemble the different

pieces as they arrive in the designated stations.

 The creation of Unified Assembly Line is the next major step that is done by the Buick Motor

Company. They were able to cut costs significantly by creating systems of laboration and intrication

deigned conveyors in one unified line.

Toyota developed the Lean Manufacturing. The process improved the flow of production by identifying

and eliminating waste. It also caused a drastic change because it requires more persistence and detailed

observation compared to the previous systems. And nowadays, Toyota have thei Just In Time System

that emphasizes “what is needed, when it Is needed, and in the amount needed”.

In the present day, manufacturing systems are primarily dominated by machineries. This

modern-day is called robotic. As you all know, our robot today called Televox began all the way back in

year 1926. It was introduced by Westinghouse Electric Corporation and the robot could respond to the

human voice and perform useful tasks. Today, robotics have a new level of innovation. Companies are

attempting to develop adaptive manufacturing robots which are able to work next to humans.

https://inventionland.com/blog/manufacturing-past-present/#:~:text=The%20first%20major%20shift

%20in,to%20be%20produced%20by%20machines.

https://rjofutures.rjobrien.com/learning-center/general-trading/durable-vs-non-durable-goods-whats-

the-difference

https://www.investopedia.com/terms/d/durables.asp
Market Analysis

a. Current Market Situation

At the present time, lamps and flashlights are essential in every household. Especially
nowadays, that the country is at Pandemic, students at home are having their struggles
in terms of their means to study. Some students have their problems related to light
when they are studying and that’s when we come at the picture. The currently
customers are very reactive when it comes to the products that are expensive that they
do not usually think of buying and using in our daily living. The consumers tend to settle
to what is cheap because we’re in a situation right now. They also tend to buy some
alternatives just to please their satisfaction without thinking thoroughly.

b. Future of the Market

The future consumers will appreciate having this lamp because it helps them in many
ways. The consumers can use this for inside and outdoor doing activities while having
the music of their life.
Product Differentiation Strategy

a. Branding Strategy

b. Physical Differentiation Strategy

c. Product Packaging
The product will be wrapped by a bubble wrap then it will be placed in a rectangular
box. This will protect the product and will be kept away from dirt and scratches while in
the storage area and/or while the product is in transit.
d. Product Review
There will be a small paper on every box that is given to a customer. Each paper will
contain the product specifications for the customer to rate. Also, included in the paper
is the email of the business and the online pages of the business for the customers
feedback submission. The reviews will help the proponents to know what to improve or
develop on their product or new proposed product that might have more beneficiaries.
e. Future Products
Through further research and product innovation/ modifications, this lamp can have
more features and uses that can be beneficial to the consumers. As the lamp was well
built, the company can still add more features without having a problem.
f. Pricing Strategy
The business will implement the value-base strategy to maximize the profit. In this
strategy, costs will be dependent on the price that the customer is willing to pay
considering of the features of the product. According to the survey conducted by the
proponents, the customers are willing to pay a price ranging from wjhbdiwb. The
business will have a mark up for the lamp of 20%.
g. Place Strategy
To begin with, direct selling strategy will be implemented in which the product will be
directly sold to customers at the place of the business. As a starter, only one store will
 be opened, which is also the manufacturing area to accommodate the target market
which is the students and professionals at National Capital Region. We only open one
store because in the current situation of the country, going out is not advisable and we
recommend doing deliveries. The store will be located at Sta. Cruz, Manila.
h. Promotion Strategy
To advertise the Multilamptional, online marketing will be used. The proponents will
make a teaser video or edit some pictures. The videos and/or pictures advertisements
will contain appealing specifications of what is that product is offering and it will be
distributed and disseminated to the target market by posting it to social media
platforms and/or the company will avail paid advertisements to reach a number of
people. Another promotion that will be used by the business is to advertise by paying a
known vlogger to feature the business’ product.