Group 5: Crochet Craze Enterprises 91%

CHAPTER 3
MARKETING PLAN

Industry Background
 Market Share
 Market trend
 Market growth
It is a fashion industry that gives us fashion ideas in a different way. You can be as simple as you
want due having that kind of product. Crochet fabrics were such a very simple product yet elegant,
especially for those girls who use it. In just simple matter of style by choosing the kind of design and
color which suits to you, you can be that fashionable enough and knows the world of fashion.

Customer Profile (Kindly indicate the variable used for market segmentation)
Our small business partnership believes that our crochet product is mainly addressed for women,
both adults and teenagers. But somehow our crocheted coin purses and phone cases could be suitable
for men depending on what they want as they customize our product. It could be useful as you want to
feel the summer and eradicate irritation because of the said climate. It is thought to be beneficial for
those consumers who are underprivileged and want to be affiliated with the fashion trend.

Competitors Profile
We have so many competitors and here are some of our local competitors here in Panabo City:
 Panabo Night Market – there are many vendors/competitors who sell in this area. Not just
becausethey offer affordable products, but also this area is easy and accessible to reached.
Many people together with their family, friends or boyfriends/girlfriends come here.
Competitors have different ideas, designs, and especially techniques in selling their products.
 Broadway Gems- this is a chain store offering standard fare. The product’s quality is average.
Designs, styles, and their uniqueness is one of the reasons why customers come and go.

Product Description (kindly transfer this to Chapter 4-Marketing Plan)

Our company decides to have crochet fabrics as our primary product. This is made of high quality
yarn and forming it to a stylish, creative, and trusted crochet products as what our consumer’s desired
Group 5: Crochet Craze Enterprises 91%
to have. As of now, our system is making crocheted fabrics, such as coin purse, phone cases, bags and
other crocheted aparrels as we could, just to satisfy our customers.
As our company arises, we had analyze that our business have our own strengths and weaknesses,
both oppurtunities and threats. We clasify it as shown below:

SWOT Analysis
S W
 High quality products  poor location
 Customization  financial issues

O T
 innovations  changes in technology
 customer’s demand  competitive environment
 seasonability

After analyzing the following, we notice that our weaknesses and those threats would be
answered by our strengths and opportunities.
After all of our observations, we have found that our company is undergoing such problems
because of the so called technology, in which it is consistently changing and arising, and as a start-up
business partnership, we cannot afford to have the latest equipment, that makes us to be outdated. But
we had analyze that our financial problem could be answered by the way our consumers customize our
product which makes us lessen our expenses. Eventhough we are worried about our location in which
great competitors are apparent, we are confident to promote our trusted high quality product with an
economical price.
We cannot deny that our product has it’s limitations in terms of adapting through the seasons,
that’s why we are allowing our customers to construct and suggest the style of their desired crocheted
fabric.
Well, we are confident enough to compete in the fashion industry because we are innovating
our own product and discovering new varieties of it through customization.