Minscat Plants Responsibility Involvement Commitment Excellence

MinSCAT plants Responsibility Involvement Commitment Excellence
Marketing Plan
I. Executive Summary:
My Grandma’s Crochet is about a business that involves the art of crochet
My Grandma’s Crochet is concentrating on certain types of crochet products which

include. The best part of this business is, all the products are one hundred (100%) percent hand-
made, and it is already customized to the customers’ taste and choice. The color of each product
may be the same, but they are all different to one another. The exclusivity of these products will
definitely earn customers’ satisfaction. We provide both custom made order items and ready
stock items.
For the very beginning of this business, the funding is from our partner contributions,
which is used to buy the yarns, hooks, craft supplies and other materials for marketing purpose.
As we are now only concentrating on online business in which we are all working at home, we
already minimize our operating expenses in terms of shop rent or other utilities. Our future plan
in this business is to open a studio of crochet products, and will be able to serve and to share
some tips and knowledge about the experience on how to make a crochet, and how to elevate it
to highest level.
II. Current Marketing Situations:
A. Introduction
Crochet is a process of creating fabric or products from yarn, thread, or other material
strands using a crochet hook. Crocheting, like knitting, consists of pulling loops through other
loops, but additionally incorporates wrapping the working material around the hook one or more
times.
The crochet business started in our family. My Grandma, Mrs. Ledeline M. Llave,
started to make jackets and blouses only for the member of my family which she was
not convinced to what she did so she made an improvement and when her colleagues
saw it, they started to make an order.
According to Mrs. Llave, “this helps my family a lot since I already have two sons
in high school and college. Orders from other places arrived but since I was also

working I only accept those who can wait to a period of time and allotted to them.
Then some of my customer brought other example of some other things such as hat,
wallet, hairbands, pouch, and other. Some of the orders came from few overseas Filipino
workers (OFW’s), and imports from Saudi Arabia, Australia, and the United States.
As of today, I am now concentrated on small things such as making giveaways,

gifts and others. I did it when I like it. I am not getting any younger.”
B. Market description
Our management team is comprised of people with much experience in online

business. Our philosophy is focus on the customer’s needs. We provide various kind of
item for all ages based on our specialty, which is crochet.
C. Service Review
1. Nature of a product/Service review

Business Location
Grandma’s Crochet is an online business that provides products and services

online. So our business doesn’t have a specific business location as the business can be
managed anywhere and anytime. All the interested parties can visit Grandma’s Crochet
online: Ledeline M. Llave’s facebook account. Grandma’s Crochet does have a location
to store all the raw material and finish product. All the raw materials, equipment and
finish product will be store in a small space store room. It is located in Grandma’s
Crochet home, so we can reduce the expenses of renting a space to store the products.
The location of the store room is in Pola, Oriental Mindoro where all the partners of
Grandma’s Crochet can easily get there if needed.
2. Manpower
Manpower Requirements
They play a main role in producing a product in my Grandma’s Crochet. Most of

the orders can be ready in one week and the latest is 3 weeks, depends on the product
patterns and the crochet thread availability. The partners will help each other in
completing the orders as well as marketing and deliver the products. Here, Grandma’s
Crochet can reduce expenses and save more because we do not need to hire any
crocheters. It is more productive and the owners can control the qualities of the
products.

Position Annual
Remuneration
(RM)
Operations 1200
Manager
3. Material, Equipment & Facilities
(i) The Hooks, Threads or Yarns & Craft Supplies
These are the material needed to produce the products. The quantity of the
material is depending on the order from customer.
Equipments:
Item Quantity Price Per unit (RM) Total (RM)
Hook 2 sets 50.00 100.00
Total 100.00
Materials:
Item Quantity Price Total

per (RM)
unit
(RM)

Nona Yarn 100 2.00 200.00
skeins
Total 1151.00
4. Procedures
(ii) The Process of Producing the Product
 Receive order from customer
The customer will make an order through contacting my Grandma’s contact number.
The item can be ready stock or custom made. When the customer order is a custom
made, then it has to go to the next process that is selecting the material. If it is a
ready stock, it will be delivered in 2-4 days.
 Selecting the material
The material is selected according to the customer orders. The material can be
obtained from the store room. If the material is unavailable, then it have to be
purchase.
 Purchasing the Raw Material
Grandma’s Crochet material can be purchase from Batangas City. Some are imported
and some are local. The local supplies are usually from the factory itself. These local
suppliers are more cost effective than the other suppliers from different place. For the
imported supplies, it is usually order from Batangas City. It took about 1 to 2 days for
the materials to arrive.
 Start making the product
When all the material is available, then we can start making the product. The
product needs to fulfil the customer needs such as pattern, colours, and size. This part is
important and usually takes about 7 to 21 days to finish crocheting the product.
 Accessories or Appliqués on the Product

The products may need to be add up with buttons, pins and other appliqués
according to customer needs and demands.
 Finish Product
After crocheting and accessorize the products, it is finally completed. Now the
products packaging and labelling takes place.
 Product Delivery
The finish product now is ready to be delivered to the customers. Grandma’s Crochet
services will take 1 or 2 days for the finish product to reach the customers. The
tracking numbers will be given to the customers after delivery.
Operational budget
Item Fixed Asset Annually

Expenses expenses
Materials 1151
Equipments 130
Total 1281
5. Facts of the Products / Easy Process
Grandma’s Crochet are making and selling crochet items for all ages. They are
all 100% handmade using various type of local and imported crochet threads from
Batangas City.
III. Competition
There’s a few crocheters are already in the market in Saudi Arabia, Australia and
US, but most of them are just requested by my in-laws. Furthermore, there is a healthy
competition between these crocheters because each of them has their own capability and

mastering in each product. It’s like we can know which crocheter made the product only
from the photo. There are crocheters that are mastering in making pouch or wallet, glass
holder, tablecloth, bedcover, cushion cover and other crocheted products. Even for the
baby-wear, each crocheter has their own pattern and customers are free to choose the
most attractive design. In addition, a few of them not only crochet, but also knit.
List of Competitors:
NAMES PLACE/CONTACT
Gantsilyo Livelihood Program Bauang, La Union
Baby Crochet Philippines https://web.facebook.com/pg/mybabycrochet/about/
Crochet in the Philippines 09753398143
IV. Target Market
We are targeting on all age level as our products are suitable for all the age level
here in Philippines.
Product line Target market
Centerpiece Future parents / anyone related to give as a gift
Jacket All (kids/adults/teenagers)
Blouse Girls, ladies, women
Bedsheet / Bed Cover Girls, ladies, women, Future parents / anyone related to give
as a gift / Souvenir
Placemat Future parents / anyone related to give as a gift
Cellphone pouch Teenagers to adults who own gadgets
Pouch / Wallet All (kids/adults/teenagers)
Glass Holder Future parents / anyone related to give as a gift / Souvenir
Hairband Girls, ladies, women
V. SWOT Analysis
A. Strength
 My business has a good customer service.

 My business is trustworthy.
 Crochet products that really are made in customer’s mind.
 Easy to reach my contact thru telephone, email and cellular phone.
 My email acoount is very easy to navigate. (0949-788-5207) or
ledelinellave@yahoo.com

B. Weaknesses
 Still fairly new, and inexperienced in the selling aspect.

 Inadequate information of new technology.
 Inadequate information of current market trends.
 Less interest of young people in crochet.
 Lack of promotion.
C. Opportunities
 To get increase in business ventures.

 Getting to know other associates who sell similar products.
 Please include the other opportunities or possible contributions:
Example: Taxation for the development of the state, employees to have

government contributions such as SSS, Pag-ibig, PhilHealth.
D. Threats
 Must be continuously working, listing, in order to keep things steady thru the use of
marketing strategy.
 Lack of traffic to my account.
VI. Objectives
A. Marketing Objectives
 To discover skills and patience that will help to uplift livelihood of a

country.
 To introduce those old-fashioned things that the ancestors can provide a
livelihood.
B. Strategic objectives
 To provide a higher standard of satisfaction to the customers.

 To provide customer assistance and better customer service.

C. Financial Objectives
 My Grandma’s Crochet Business will achieve its first–year total

sales revenue of Php 45,699,550.00 that will be based on the selling
price of Php 600.00 per item/product.
 My Grandma’s Crochet Business will produce its net profit of Php

91,399,100.00 for the second-year of operation.
D. Financial Cost
The following are the estimated sales and gross margin of My Grandma’s Crochet
Business Product:
Sales = Php 10,578.00 x 360 days = Php 3,808,080.00
Gross Profit = Sales – Cost of goods sold =Php 3,808,080.00 – Php 1,827,982.00 = Php
1,980,098.00
Gross Profit Rate = Gross Profit ÷ Sales = Php 3,808,080.00 ÷ Php 1,827,982.00 = 2.08%
Gross Profit Rate: 2.08%
VII. Marketing Strategy
A. Product Positioning
My Grandma’s Crochet Business is a unique business. It is truly one of a
kind crochets offering outstanding design and unique materials, made by the people
who loves to crochet and used it as a past time, in an excellent way. It is a
product that is quite useful in your house as a design or for you as a fashion.
B. Product Management
In product management, strategy is not a one and done deliverable. We
have a great product managers who is engage in thinking and execution everyday
from the identification of lucrative market opportunities to the development of the
product portfolio and its go - to - market execution. First our manager take time
to clearly understand the customer’s business problem from their point of view so

we can truly offer products that add value instead of improving on current
available. Second, the strategic product manager uses critical thinking skills and
enterprising ways to new and innovative ways to solve them. Third, we will
remember that our responsibility every day is to drive sales results for the
company. We will not leave sales to the sales people, but instead take a full
responsibility.
C. Pricing
My Grandama’s Crochet Business primarily utilizes competition based on
pricing. The crochet business does not utilize coupons and discounts (other than
opening promotion) because they believe that the most valuable customer
demographic of regular consumers is not influenced by discount programs or
coupons. One of our pricing strategy is the competition – based pricing strategy
where we solely focus on competition where in it is charging, and strive to meet
or beat those prices. The goal is to best you bigger competitors based on pricing
alone. Another strategy is the promotional pricing strategy, where in we can get a
new customers even if we do not make a profit from the initial sale.
D. Marketing Communication
Raising awareness of our product in our target market is where sales
begin, and this is where marketing communications activities begin the selling
process.
One of our strategy is what we called the messaging strategy where we

have to determine the consistent theme or the fundamental selling message that
we will use in all marketing materials. Another strategy is selecting effective
marketing programs like advertising, public relations, seminars, packaging and
merchandising promotions.
VIII. Action Program (Gantt Program)

My Grandma’s Crochet Business Action Program.
During the initial phases of the marketing plan development, several focus
groups were held to gain insight into a variety of likely customers. These focus
groups provide useful insight into decision making process of these customers.
An additional source of dynamic market research is a feedback system

based on suggestion card system. The suggestion card has several statements that
patron are asked to rate in terms of a given scale. There are also several open
ended questions that allow customer to freely offer constructive criticism or praise.
Crochet Business will work hard to implement reasonable suggestions in order to

improve their service offerings as well as show their commitment to the customer
that their suggestions are valued.
Wk 1 Wk 2 Wk 3 Wk 4 Wk 5 Wk 6 Wk 7 Etc.
Select new
materials.
Obtain
materials
samples
Produce
mock – ups
with new
cover
designs.
Improve
facilities
Trained
the staff
Promote
our
product
Etc.

IX. Financial Projections
A. Income
My Grandma’s Crochet Business income in 1 year = Php 45,699,550.00
B. Partnership Equity
My Grandma’s Crochet Business partnership equity in 1 year = Php 216,000.00
C. Balance Sheet
Statement of Financial Position, also known as the Balance Sheet, presents the
financial position of an entity at a given date. It is comprised of the following
three elements:
 Assets: Something a business owns or controls.
 Liabilities: Something a business owes to someone.
 Equity: What the business owes to its owners. This represents the amount of
capital that remains in the business after its assets are used to pay off its
outstanding liabilities. Equity therefore represents the difference between the assets
and liabilities
Statement of Financial position or “Balance Sheet”
Non-Current Assets Php 220,000.00
Current Assets Php 45,000.00
TOTAL ASSETS: Php 265,000.00
Equity and Liabilities
TOTAL EQUITY Php 165,000.00
Non-current Liabilities Php 35,000.00
Current Liabilities
TOTAL CURRENT LIABILITIES Php 65,000.00
TOTAL LIABILITIES Php 100,000.00
TOTAL EQUITY AND LIABILITIES Php 265,000.00

X. Implementation Control
We should ensure the achievement of the strategic objectives adopted by our

shop. A special role in this process plays a function of organizing and directing people.
It involves preparing comprehensive list of activities to be performed, people responsible
for this activities and resources needed. There are different process in implementation
control. Our managers must ensure efficient use of capital, human and marketing
resources. It is very important also that vary are the skills, attitudes and behaviors of the
staff. We have to implement the leadership, coordination, communication, human
resources, organizational resources and motivation among everyone who is involve in this
kind of business ventures.
XI. References
http://accounting-simplified.com/financial/statements/types.html
www.entrepreneur.com.ph/tag/crochet-business
https://familybugs.wordpress.com/2012/05/05/the-swot-self-evaluation/
http://highered.mheducation.com/sites/0073324833/student_view0/ebook/chapter1/chbody1/the_
four_basic_financial_statements__an_overview.html
http://www.india-crafts.com/business-reports/indian-handicraft-industry/swot-analysis-
handicraft-industry.html
https://web.facebook.com/pg/mybabycrochet/about/
https://web.facebook.com/CrochetPhilippines/?_rdr
https://www.thebalance.com/get-your-home-business-up-and-running-4083223

Minscat Plants Responsibility Involvement Commitment Excellence

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Minscat Plants Responsibility Involvement Commitment Excellence

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Copyright:

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MinSCAT plants Responsibility Involvement Commitment Excellence

My Grandma’s Crochet is about a business that involves the art of crochet

My Grandma’s Crochet is concentrating on certain types of crochet products which

II. Current Marketing Situations: