Marketing Plan for product Executive summary The marketing team has chosen snack bags for retailing. The snack bags will include the following snacks: Jelly – which include these flavors: Original, strawberry, orange and apple. Chips – The chips the marketing team have chosen is “Smiths chips”. Chocolate – The chocolate the team has been chosen is “Academy’. The marketing plan was designed to arrange how to sell the products and teaches marketing team the idea of sale. The team is following marketing mix strategies planning of the selling activities. The marketing team is serving the target markets demand for knacks.
Target market The marketing team has conducted the target market survey at Holmes College. Most of the customers are young people and 80% of the target market is from China. That means the team should market the products depending on the Chinese culture and what they like and consider Chinese people’s taste more in order to increase sales. As 60% of our target market will look for savings when buying, we would like to introduce a sales promotion such as buy two, get one free. I think this promotion can attract customers. Goals The goal is what the team desires to achieve in the marketing activities.
The marketing team will sell 50 of snack bags, at a value of $2. 00 each. The marketing team’s expenses will be 55% of sales. The marketing team will make 45% profit of total sales. The marketing team plans to spend 10% of projected sales on advertising/ promotional activities. Marketing-Advertising and Promotion Price: How much is your market prepared to pay? As our survey shows the market is prepared to pay $2-$4 on snack bag a day. How competitive is my price? Our products have no an advantage in price, but the quality of our products is under control as we will buy them in the big supermarket.
What mark-ups are required to cover costs? The marketing team pays $1. 50 per snack bag and then they sell it $2 for each. So our mark-ups is 0. 5/2*100%=25% Will I offer discounts for multiple purchases? The team will offer customers discounts for multiple purchases: buy two, get one free. Advertising The team has made an attractive and colorful poster for promoting the product. The By engagement to purchase the product. The hand-made poster will be displayed at Holmes Secondary College. Promotion Promotion is one of the most important means to sell products.
The purpose of promotion is to make the target market know the products. For promotions the marketing team has decided to offer a discount. For example: if the customers buy two at one time, they can get one snack bag for free. Product Quality: is the product of high quality? Can it be improved? The team’s product is high quality. It is sourced from the authorized supermarket, Woolworth. It also can be improved, if customers have any request. Features: what are the features of the product? The concept of refueling energy will be applied to team’s marketing strategies.
The eaters of products are contained full of calories, for instance: chocolate. However, It is also healthy, the fruity candy is 99% fat free. Benefits: what are the benefits of buying the product (especially for your target market)? There are different products in the snack bags, so people can choose which they like. Packaging: can you add value to your product by improving its packaging? The target market desires to accept convenient products at an affordable price. Hence the team wants to market chips and fruity candy which is conveniently packed and can be easily carried by students.