This marketing plan document outlines the key elements to include when developing a marketing plan, including: identifying the product or service and target market; analyzing demand and supply trends; projecting sales volumes and revenues; reviewing competitors' marketing programs; and defining your own marketing program and estimated expenses. The plan provides a framework to determine market size and potential, identify customers, and develop strategies to effectively promote and sell your product or service.
This marketing plan document outlines the key elements to include when developing a marketing plan, including: identifying the product or service and target market; analyzing demand and supply trends; projecting sales volumes and revenues; reviewing competitors' marketing programs; and defining your own marketing program and estimated expenses. The plan provides a framework to determine market size and potential, identify customers, and develop strategies to effectively promote and sell your product or service.
This marketing plan document outlines the key elements to include when developing a marketing plan, including: identifying the product or service and target market; analyzing demand and supply trends; projecting sales volumes and revenues; reviewing competitors' marketing programs; and defining your own marketing program and estimated expenses. The plan provides a framework to determine market size and potential, identify customers, and develop strategies to effectively promote and sell your product or service.
scientific (if any) and the reason for choosing it. Properties of the product/service – physical, chemical, and/or agronomic B. Target Market
1. Area Coverage – geographical areas of
dispersion (where the product is mostly found) 2. Consumer/Customer - - determines whether there are enough customers in the market to make your business profitable. Age range, Income range, Gender, Location, Average / frequency of purchase, What need does your product fulfill? , who influences their purchasing decision? C. Demand Analysis
1. Demand – for the product must be
determined in the following manner: a. Who and where is the market? b. What is the total domestic demand from the historical point of view? c. Evaluate demand growth patterns in the past by applying appropriate projection methods. C. Supply Analysis
2. Supply – situation maybe determined as
follows: a. Who and where are the direct competitors? b. Determine historical domestic supply as comprised by local production and importations? c. Evaluate supply growth patterns and project supply by applying appropriate projection methods. C. Demand and Supply Analysis
1. Compare the demand and supply trends.
2. Determine the amount of demand unsatisfied especially in the projections. 3. Determine the share of the market by establishing the proposed projection volume as against the total market size. D. Projected Sales
1. Per Month/Year 2. In Volume and In Pesos E. Marketing Program
1. Practices of Competitors - determine the
types of marketing program prevalent in the industry and gauge their respective effectiveness. 2. Marketing Program - draw up a marketing plan that identifies and defines the target market, the selling price, the packaging of the product, the distribution network, the sales management mechanism, and the advertising and promotions program. F. Marketing/Selling Expenses THANK YOU FOR LISTENING!