PART 4

Product definition
□ Product
o Features
o Advantages
o Benefits
□ Needs and wants being addressed

Findings from industry experts

□ Findings, insights and input from credible industry experts to lend credibility to the
chosen product concept

Findings from consumer research

□ Findings’ insights from consumer research about the product
o Acceptance
o Purchase frequency
o Usage

Estimate existing market size and potential of product

□ Based from existing data
□ Computations, estimates from data and info from cons

PART5 – general marketing strategy

Right to left planning

*problem: come up with the tactics first
□ Always begin with the end in mind
□ The end should be the goal/ vision
□ These should be specific and quantified
□ The more exact the measures, the more you can manage your resources and
concentration of time, effort and money
□ If you cannot measure it, you cannot really manage it
*VMOKRAPISPATRES
Vision, mission, objectives, kra, pls,strats, programs, actives, resources

Brand vision  BE
□ A futuristic picture of the brand, described in words or a vision statement
□ It should be time bound (3 to 5 years)
□ Ambitious but realistic (*BHAG)
□ May have a geographical and target market focus that would help you plan strategically
□ The vision can also be in relation to the company
□ It is something to pursue
Rand mission statement  DO
□ The basic “purpose of being” for the brand
□ Basic purpose includes earning a decent return and getting a share of the market
□ Mission statements specify the product or service to be rendered and the market
□ Mission statement = something to achieve
□ Relate to mother company’s vision and mission

Brand objectives
□ Measurable END results that translate the vision and mission
□ Objs usually centre around 4 major ends
□ Sales and profits
□ Expanding markets
□ Satisfying customers with quality products
□ Providing reasonable compensation/ benefits to employees

Brand kras
□ The attainment of the obs or measurable end results could be described by key result
areas
□ Kras are proofs that the objs… didn’t catch it
□ E.g. growth in sales vs. growth in sales per outlet
□ Other:
o growing consumer acceptance in the form of surveys
o Growth in market share
o Explain why those KRAs were chosen
----

□ Brand performance indicators

o PIS are the KRAs quantified
o Discuss each PI (at least for the first year PIS)
o E.g. (table—obj, KRA, PI[3 years])
o Realistic potential market size
 Target market selection (primary, secondary and tertiary—emerging target
markets)
 Consumer survey – interview at least 30 people in each group
 Benchmarking with original product’s market size (worst, better, best
scenario)

PART 7 – OVERALL MARKETING STRATEGY

□ brand strategy –
o base it on performance indicators
o list swot and performance indicators and combine any elements under the two
o top bottom – vmo, kra, PI  strat
o bottom up – swot  strat
□ summary of strategic options – segment these into thematic strategies
 o general strategic options
o specific strategic options
o and then, form major strategic alternatives
□ strategy formulation – after listing down the strategic options, identify what major
alternatives can be developed from the options… didn’t catch the others
□ other
o Where is your industry in terms of product life cycle?
o Look at the attractiveness of your market and the competitive advantage of the
mother company

□ STP
o Propsed target market analysis
 Demographics
 Psychographics
 Behavioural
 Geographic
 Lifestyle
 Motivation
 Attitude
 Attitude and motivation toward the product
o Total population
o Breakdown: primary target market, secondary TM and if necessary, tertiary and
emerging TM (emerging – next batch of people moving in your target market)
o **product positioning strategy

FROM THE SATURDAY CLASS

□ Part 4
o Basis: external analysis: KSF’s and O&T
o Internal analysis: company, brand, S&W
o *Positioning and 4P’s
o E.g. chewing gum market: 100% distribution in national key of premise of
modern trade (defined number, indicates how much it’s widespread)
o E.g. high visibility in all outlets – explain what high visibility means in terms of
the product
□ Product definition
o **The extended product - address what are the needs being addressed
o Advantage and benefit (e.g.)
o cheese: existing market size and potential of the market is almost equal already
o needs addressed internally: to arrest the saturation or low growth
o needs addressed externally: study of lactose intolerants in the country. Example:
50% of the country are intolerant◊ define it more. For our case, let’s find people
of our age bracket that suffer from having dandruff and regularly colours hair
o PROVE why the company needs our brand
□ Estimate of existing market size…
 o e.g.
o Age bracket ◊ total pop.
o Multiplied by: Gender ◊ total pop. %
o Multiplied by: Economic bracket ◊ pop. %
o Total potential market size
□ Right to left planning  VISION
o Brand extension vision
o Vision is something you try to achieve in the time allotted (3-5 years)
o You will never fully achieve your vision
o BHAG
□ Brand mission
o You can actually achieve this
o Reason why the brand exists
o In terms of its role in the company
□ Objectives
o A way to flesh out your vision and mission
o Objectives: more practical
o Expanding the market could mean gaining more customers or more penetration
□ KRAs
o Key result areas
o A means for the objectives to be achieved
o Key result areas
o More qualitative
o E.g. obj: expanding market share ◊ how do you prove that you are achieving a
dominant presence in the country, what do you need to do in order to achieve a
market presence in the country
o Market share = sales/market size or market potential
o Performance indicators = kra’s per year