Marketing Plan

ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP
MARKETING PLAN
MARKETING
PLAN
Dr. Zarina Salleh
Hjh. Zanariah Zainal Abidin
MARKETING PLAN
LEARNING OUTCOME
• Understand the importance of preparing a
marketing plan
• Describe the steps in preparing a
marketing plan
• Identify components of a marketing plan
• Prepare a marketing plan for a small
business
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
MARKETING PLAN
9 Steps in Preparing a Marketing Plan

1. Setting Marketing Objectives
2. Determining product or service
3. Identifying target market
4. Analyzing market trend and size
5. Assessing competition
6. Forecasting sales
7. Developing marketing strategy
8. Planning for marketing personnel
9. Preparing marketing budget
MARKETING PLAN
1. Setting Marketing Objectives:

New business:
• Introduce new products/services
• Estimate market acceptance and
sales
Existing business
• Introduce new products/services
• Inform market of product
improvement
• Enter new market
• Increase sales of existing
products
• Increase market share
• Market penetration
• Regain market for existing product
MARKETING PLAN
2. Determining product or service

• Needs & wants of customers
• Marketability of a product or service
Guide in 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.
MARKETING PLAN
3. Identifying 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?

MARKETING PLAN
Segmenting the Marketing

Market Segmentation define as:
Divide the total market into smaller group or

market based on identifiable common traits
(same age group,gender,hobby,lifestyle, similar
education background) & buying preferences
(prefer low prices, make bulk purchase)
MARKETING PLAN
Common Bases For Segmentation

• Geographic Segmentation
- District, country, Residency
• Demographic Segmentation
- Age, occupation, Income, Education
• Psychographic Segmentation
- Personal taste, status, Hobbies,
Loyalty of product
MARKETING PLAN
4. Analyzing Market Trend

and Market Size
• What is the trend in the market?
• What is market potential?
• Size of the market - what is the RM value?
• Customer profiles of relevant market
segments.
MARKETING PLAN
Market Size:
- Total potential purchase of target market
- Should be translated into monetary value
- Growing, remain the same or shrinking
Market Share:
- a comparative measure to assess
performance against the competition
MARKETING PLAN
5. Assessing Competition
Identify Competitors
• Assess their market positions and
strategies i.e.; product quality, pricing,
distribution and promotion
• Strengths and weaknesses
• Duration in market
• Customers
MARKETING PLAN
6. Forecasting Sales
• Important Measure whether the company
will profit, lose or only achieve
breakeven
• Normally sales will be forecasted for one
year.
MARKETING PLAN
MARKETING PLAN
7. Developing 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
MARKETING PLAN
4 Marketing Strategy
Consist of 4 P’s
• Product Strategy
• Pricing Strategy
• Place or Distribution Strategy
• Promotion Strategy
MARKETING PLAN
i. Product Strategy
• Include product and service strategy
– Product is a physical item that can be seen, owned,
used or consumed. A Tangible,
– 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
MARKETING PLAN
Product Strategy
• Product attributes
– Quality – Reliability & Durability
– Design – Unique & in Trend
• Brand is a name, term, sign, symbol or design that identifies
and differentiate it from any other product.
• Packaging not only wrapping the product but for protection,
ease of use, product differentiation, attract customers and
safety
• Labeling Identifying, grading, show the content, usage
instruction or warning.
• After sales service Good after sales service please
customer and repeat purchase
MARKETING PLAN
Marketing Strategies for Services

• Service quality
– consistency
• Service package
– Combination of services at competitive price
• Service differentiation
– Offering that is unique and can be
differentiated from the competitors
• After sales services
– Follow-up
MARKETING PLAN
ii. 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
MARKETING PLAN
Pricing Strategy
Common Pricing Methods:
1. Cost-Based Pricing
Price = Total cost Per Unit + Mark-up
2. Value – Based Pricing
The price are determined by customer perception
toward the value of the product.
3. Competition based Pricing
The business bases its price largely on the competitors
prices.
MARKETING PLAN
iii. Place or Distribution Strategy
• Place strategy refers to the decision made

on the location of the business
• Choice of location is crucial for most brick and
mortar businesses
• Channel of distribution is a network
developed to ensure product or services
reach target consumers
• Distribution strategy for consumer product and
industrial product may vary
MARKETING PLAN
Distribution Strategy
Manufacturer/Producer
Wholesaler Wholesaler
E-Intermediaries
Retailer Retailer
Consumer
MARKETING PLAN
iv. Promotion Strategy
Promotion is any coordinated effort

taken to supplement the product, price
and place strategies in order to achieve
marketing objectives.
MARKETING PLAN
4 Promotion Strategy
1. Advertising
2. Sales promotion
3. Personal Selling
4. Publicity
MARKETING PLAN
1. ADVERTISING
Paid, non personal sales effort through a medium to influence a large number
of consumers.
Channel of adverting: 3. Outdoor

1. Printed • Billboards
• Newspaper • Banners
• Magazines • Transportation
• Yellow pages
• Brochures
• Business cards
2. Electronic and Digital

• Television
• Radio
• Internet
• Sort messaging system
MARKETING PLAN
2. SALES PROMOTION
• 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
– Premiums
– Contest
– Rebates
– Point-of-purchase promotion
– Sweepstakes
– Free delivery
– Extended warranty
MARKETING PLAN
3. PERSONAL SELLING
• Personal sales presentation conducted by a trained

sales person to influence potential customers.
• It is most often used for products that require
demonstration or explanation
4. PUBLICITY
• Efforts taken to develop and maintain good relationship

with the public to ensure good favorable public image of
the business.
MARKETING PLAN
e-Marketing
• E-marketing is the efforts to communicate, promote and

sell products and other services using electronic
communication technology.
• E-marketing uses digital technologies to facilitate the
selling of goods and services.
• The purpose of e-marketing are :
– to complement traditional marketing method
– to keep pace with information communication technology (ICT)
business trend
MARKETING PLAN
Traditional Marketing vs e-Marketing Methods
Traditional e-Marketing
Television Website
Classified Search engine marketing (SEM)
Radio Podcast
Word of mouth Blog and social network
Letter (direct mail) Email and short messaging service
MARKETING PLAN
Benefits of e-Marketing
1. Reach global market
2. Lower cost
3. 24 hours per day and 7 days per week
marketing
4. Personalization
5. Interactive marketing
MARKETING PLAN
8. Planning For Marketing Personnel

• Determine number of supporting
personnel needed to undertake the
marketing tasks – in-house or outsource?
• Examples:
– Marketing manager or executives
– Sales personnel
– Promotion personnel
– Distribution personnel
MARKETING PLAN
9. Preparing Marketing Budget
• Marketing budget refers to expenses incurred in

planning for the marketing aspect of the proposed
business or project. It consists of 3 components.
1. Investment on fixed assets

2. Allocation for working capital for marketing
activities
3. Other marketing expenses
MARKETING PLAN
Marketing Budget Table
Items Fixed Working Other
Asset Capital Expenses
(RM) (RM) (RM)
Fixed Asset
Signboard 4,000
Working Capital
Salary/EPF/SOCSO
- Marketing Manager 3,000
- Sales Consultant 1,500
- Promotion 500
Others
Grand Opening 5,000
Total (RM) 4,000 5,000 5,000
MARKETING PLAN
END OF MODULE 8

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ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP

9 Steps in Preparing a Marketing Plan

1. Setting Marketing Objectives:

2. Determining product or service

Guide in describing product or services

Capitalize on the uniqueness or strengths of the product or

3. Identifying target market

• What is their common needs or wants

• What is their common characteristics?

Segmenting the Marketing

Divide the total market into smaller group or

Common Bases For Segmentation

4. Analyzing Market Trend

7. Developing Marketing Strategy

• Place or Distribution Strategy

– Ideas and creations of the minds can also be

– Service is intangible and cannot be seen or owned,

Marketing Strategies for Services

ii. Pricing Strategy

Most often, price is in the form of

iii. Place or Distribution Strategy

• Place strategy refers to the decision made

iv. Promotion Strategy

Promotion is any coordinated effort

Channel of adverting: 3. Outdoor

2. Electronic and Digital

• Personal sales presentation conducted by a trained

• Efforts taken to develop and maintain good relationship

• E-marketing is the efforts to communicate, promote and

Traditional Marketing vs e-Marketing Methods

8. Planning For Marketing Personnel

9. Preparing Marketing Budget

• Marketing budget refers to expenses incurred in

1. Investment on fixed assets

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