Principles of Marketing Page 1 of 2 pages

Module 7: The Marketing Planning Process

Answer Sheet

What I Know

Many businesses are no strangers to crisis, but the global

scale and continued uncertainty around COVID-19
which has a large impact on any business
operations. Companies adapted to developing their
marketing strategies in order to deliver quality products
at a reasonable price and at the same time maximize
profits. Amidst the pandemic, what makes a market
viable?

What makes a market viable amidst the Pandemic is its capability of satisfying the needs and wants
of the consumers. By adapting to the new normal and following the minimum health standard
protocols, business and services can continue their operation rather than resorting to business
closure. As long as they don't compromise the health and safety of their employees and their
customers, they can continue to give and serve what their customers demand. Strategizing an
effective and efficient marketing promotion to reach more target markets and increase their sales
can also have a huge impact on the success of the business. Setting up reasonable prices of the
products and services is also a key factor for the feasibility of the business because the prices of the
product or services affect the purchasing decisions of the consumers.

Synthesis/Summary

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 Principles of Marketing ABM-11 Page 2 of 6 pages
Among marketing’s greatest challenges is foreseeing how customer wants, needs, expectations
and purchasing decisions will evolve. Customers themselves won’t know until COVID-19 infections,
fears and restrictions occur in their workplaces, locales and lives. The marketing environment normally
changes, but when things happen fast, it’s vital for companies to respond quickly to rebalance their
marketing mix strategy. To effectively reach new customers that would be interested in purchasing its
product, a company needs both a marketing strategy and a marketing plan.

Anticipate the future and create suitable action plans for your product to stay ahead of market
disruption.

Marketing Mix Strategy

A. Business Information

The MFAT-T or Multifunctional Anti-Touch Tool is product used as

personal protective equipment which is essential especially in our present
situation. It is Multifunctional because it is designed to prevent people from
touching or having physical contact to shared surfaces and can also be used to
disinfect with its alcohol/sanitizer spray feature.
Our mission is to let people continue their usual lives without having a
fear of compromising their health due to the Pandemic. With every one’s hope
of putting this Pandemic to an end, the simple features of our product, MFAT-
T can have a big impact in reducing health risks to the public. Our product,
MFAT-T together with the cooperation, obedience and self-discipline of
everyone, we can achieve a safer and better society.

B. Competitive Analysis

MFAT-T is made from an antimicrobial material, specifically Metal

Copper. This material is easy to sanitize and cannot be easily contaminated
with harmful microbes. Unlike MFAT-T, other Anti-Touch tools that are
already present in the market are made from plastics which are most likely to
be easily contaminated and are not so durable. The idea of MFAT-T is an
integration of the features of Alcohol spray bottles and Metal Anti-Touch Tool
Keychain. MFAT-T has three distinct features which are the anti-contact hook
for door handles, silicon soft pointer for press buttons, and the alcohol/sanitizer
container and spray for disinfection. These features are the advantages of
MFAT-T from other Anti-touch Tool that are present in the market in terms of
the durability, portability and usefulness.

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 Principles of Marketing ABM-11 Page 3 of 6 pages

SWOT Analysis

Strengths Opportunities
 Handy  It is very essential for everyone to
 Unique design have especially in our present
 Lightweight and Sturdy situation.
 Made from Antimicrobial material  It is modifiable or can be added
(Copper) and not harmful recycled some more features.
plastic material (Polyethylene  Raw materials are widely
Terephthalate (PET)) available.
 Refillable (Alcohol container)  Other raw materials like brass
metal and other antimicrobial
plastic and metal materials can be
utilize by the company to develop
more products like MFAT-T.
Weaknesses Threats
o Alcohol can cause dry skin when used  People may not patronize the product
too frequent. in the next 2 or 3 years or when the
o Marketability: Old designed Anti- Pandemic ends.
touch tools has few observed users.  Other competitors might develop their
products into a more durable but
affordable product which our target
market may patronize.
 Regression of product’s value

C. Target Market

Our target market are workers/employees, front liners and every one in
general. Since we don’t have yet a physical store, they can buy our product
through our social media platforms where we advertise and promote our
product. They can search for our pages in Facebook and Instagram for more
details and when they want to buy or order from us. They can directly message
us in our pages to order and we will provide them an order form for them to
fill-up necessary information like their name, address, contact number and what
mode of payment they prefer to pay. After filling-up the order form, we will
process their orders and ship it through our courier. It would take 2-5 working
days for them to receive the product. Our social media platforms where they
can order from us are open 24/7.

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 Principles of Marketing ABM-11 Page 4 of 6 pages

D. Price Setting

The price of our product is Php160.00. Since we are going to sell it online
and many of our target market could be far from us, we will ship their orders to
them and an additional Php50.00-Php 105.00 (depends on the location of the
receiving customer) is applied for the shipping fee.
We came up with our product price buy computing our fixed cost and
variable cost and we added a 2% mark-up. We used the Cost-plus pricing
strategy to precisely set our product price. This pricing strategy can maximize
profitability for our product because in this strategy, we are able to add mark-up
percentage up to 20%.

E. Unique Selling Proposition

We will market our product through our social media platforms. We will have a page
in Facebook and Instagram where we will post our product and its details. It is also where the
transactions between us and our customers for their order will be made.

From our manufacturer, which will also be a part of our company, the products will
be sent to our small shop, and we as retailers will distribute or sell the products to our end
users through our online shop. These channels will help us in achieving our goal with the
effective and efficient making of the product in order for us to earn fast and make profit. As
for our retail shop and online shop, it will have a huge role to our company especially in
promoting and marketing our product.

F. Product Promotion

We will be promoting our product through Advertising, specifically Social Media

Advertising. We will have a Facebook and Instagram pages where we will be posting our
products and persuade customers to buy.

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 Principles of Marketing ABM-11 Page 5 of 6 pages

E. Marketing Strategy and Tactics

MFAT-T or Multi-Functional Anti-Touch Tool is a product creation triggered by the

unfortunate situation that we are facing, the spread of Coronavirus Disease or COVID-19
Pandemic. The purpose of this product is to prevent people from having physical contact to
shared surfaces such as door handles, press buttons etc.

MFAT-T is only Php160.00 plus the shipping fee of Php50-Php105.00 (depend on the
location of the receiving customer). We believe that this price is fair enough to provide the
need of our customers, the need of personal protective equipment for our present situation.
We came up with this price through the Cost-Plus Pricing strategy that we used which we are
also be able to add a 2% mark-up in order for us to make a profit.

Our manufacturer, which is also a part of our company will send the manufactured
products to our small shop, and we as retailers will sell the products to our end users through
our online shop.We will use the Social Media to advertise, promote and sell our product. Our
products will be posted on our Facebook and Instagram pages to and persuade customers to
buy. It will also where we taking up orders and transact with the customers.

Summative Test #2
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 Principles of Marketing ABM-11 Page 6 of 6 pages

I.

1. MG
2. SG
3. MRG
4. MRG
5. MG

II. ,
1. TRUE
2. one-year
3. TRUE
4. TRUE
5. SMART

III.

1. If I were Charlotte, I would do the same thing because it is not totally a waste of time to conduct
some research by interviewing other shops rather, what Charlotte did could also benefit them
when they are planning to establish their business in terms of the SWOT and PEST analysis of
their shop. With the information or answers that Charlotte had collected from interviewing the
owners of the three shops, they will also be able to choose what type of business organization
they would build and identify their target market.

2. The gathered information should be analyzed and deliberated in order to choose the most efficient
and effective choices for the business venture. Allocating time to analyze the gathered
information would help me to come up with a wise decision.

3.

4. One of the strengths of their upcoming business is their resource for capitalization which is from
their savings. This means that they have their own fund and would not resort to get a loan to start
their business; getting a loan will just be their backup plan incase their starting fund is not
enough. The weakness of their business is in their human resources which is Charlotte herself.
She is planning whether to have a sole proprietorship or partnership for her/their business but she
lacks on knowledge about bookkeeping and accounting. So as mentioned, her husband is thinking
of her to have a tutor about these fields and this will be one of the opportunities for her/their
business, the opportunity to improve the knowledge of the people in their human resources.
Lastly, the three tailoring and design shops nearby her/their vicinity have established their
businesses long ago, meaning these businesses have more advantages as for their target market
and have already succeeded in this field compared to Charlotte’s upcoming business venture. In
addition, the above mentioned shops will also be their key competitors.

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