ENT300chp9 Marketing

MARKETING
PLAN
EDITED BY: Hairulniza Abd Rahman

SOURCE :
Dr. Zarina Salleh
Hjh. Zanariah Zainal Abidin
ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP
MARKETING PLAN
 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
 Steps in Preparing a Marketing Plan for Small
Businesses.
 Marketing Objectives
 Product or Service
 Target Market
 Market Trend and Market Size
 Competition
 Sales Forecast
 Marketing Strategy
 Marketing Personnel
 Marketing Budget
MARKETING PLAN
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
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
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
 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
 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
 Segmented Marketing
- target several or a particular market segments
- design separate offers for each segment
a. Niche Marketing:
Targeting a large share of one or a few segments or
niches
b. Micromarketing:
Tailoring products to suit the tastes of specific
individuals and locations
MARKETING PLAN
 Mass-Marketing
- ignoring market segment differences
- go after the whole market with one offer
MARKETING PLAN
 Demographic Segmentation
 Psychographic Segmentation
 Behavioral Segmentation
MARKETING PLAN
 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
 Choose your location (sg. Petani) – population 300K

 Your business is Hijab (target WOMEN)
 Segmented (gender-W) and (age- 21<x<40)
 Market size= people willing to spend a year
 (a month x 12)
 70 K x Rm30 x 12 month
 = RM 25,200.00
*NOTE : calculate Market Size for each product
MARKETING PLAN
BEFORE ENTER THE MARKET AFTER ENTER THE MARKET
NOTE : Label the chart with % and RM value

MARKETING PLAN
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
 Past performance
 Break-even – to set the minimum
 Secured projects
 On-going contracts
 Anticipated or intended growth
MARKETING PLAN
 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
 Product Strategy
 Pricing Strategy
 Place or Distribution Strategy
 Promotion Strategy
MARKETING PLAN
 Include product and service 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
MARKETING PLAN
 Product attributes
 Quality
 Design
 Trade name
 Brand name
 Packaging
 Labeling
 Warranty
 After sales service
MARKETING PLAN
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
Common Pricing Methods:
 Based on Cost
 Fixed Cost + Variable Cost + Desired Margin
 Based on Perceived Value
 Based on Competition
MARKETING PLAN
 Price lining
 Discounting
 Purchase with purchase
 Psychological pricing
 Captive pricing
 Product bundle pricing
 Segmentation pricing
MARKETING PLAN
 Marketing objectives
 Demand and supply
 Competitor’s pricing
MARKETING PLAN
 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
Manufacturer/Producer
Wholesaler Wholesaler
E-Intermediaries
Retailer Retailer
Consumer
MARKETING PLAN
 Type of product
 Target market
 Market coverage
 Transportation ease
 Product standardization
MARKETING PLAN
Promotion is any coordinated effort taken to

supplement the product, price and place
strategies in order to achieve marketing
objectives.
MARKETING PLAN
 Advertising
 Sales promotion
 Personal Selling
 Publicity
 E - marketing
MARKETING PLAN
Advertising
Paid, non personal sales effort through a medium to influence a large number
of consumers.
 Channel of adverting: • Outdoor
 Printed • Billboards
• Newspaper • Banners
• Magazines • Transportation
• Yellow pages
• Brochures
• Business cards
 Electronic and Digital

• Television
• Radio
• Internet
• Sort messaging system
MARKETING PLAN
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
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
Publicity
 Efforts taken to develop and maintain good relationship with
the public to ensure good favorable public image of the
business.
MARKETING PLAN
 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
 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
• 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
Items Fixed Working Other

Asset Capital Expenses
(RM) (RM) (RM)
Fixed Asset
Signboard 4,000
Working Capital
Salary/EPF/SOCSO
- Sales Consultant 1,500
- Promotion 500
Others
Grand Opening 5,000
Total (RM) 4,000 2,000 5,000
MARKETING PLAN
THE END & THANK YOU

ENT300chp9 Marketing

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MARKETING

EDITED BY: Hairulniza Abd Rahman

 Understand the importance of preparing a

A well prepared marketing plan helps entrepreneurs

1. Setting Marketing Objectives

 Needs & wants of customers

Guide in describing product or services

 Who is the consumer of the product or

 What is the trend in the market?

 Choose your location (sg. Petani) – population 300K

BEFORE ENTER THE MARKET AFTER ENTER THE MARKET

NOTE : Label the chart with % and RM value

 To enable business to plan for its limited

 Place or Distribution Strategy

 Include product and service strategy

 Service is intangible and cannot be seen or owned, but is

Price is the value exchanged between the

Common Pricing Methods:

 Place strategy refers to the decision made on the

Promotion is any coordinated effort taken to

 Electronic and Digital

 Determine number of supporting personnel

• Marketing budget refers to expenses incurred in

1. Investment on fixed assets

Items Fixed Working Other

THE END & THANK YOU

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