The marketing plan for Poca potato snack will be processed from September 2008 to August 2009. The control program is very essential as one of the key factors to the success of the company. It is the duty of all departments to be charged of all the activities carried out by the company. This is to ensure not only everything to be conformed to the action plans but also key performance indicators are seriously followed:
Benchmark evaluation procedures: 1. Sales volume: these numbers will show whether the marketing strategies are effective or not, that is, advertising and promotion. This is easy for the company to assess the efficiency in marketing, in order to decide on continuing following the trend if it is positive or change it if vice versa. On other words, the figure of sales volume enables Poca to adapt to the environment. 2. Sales revenue and profit: Poca is going to check the curve of sales revenue and profit to make sure that the company develops after every month, quarter and financial year and marketing strategies are well-carried out. Besides, Poca will calculate net profit margin, ROA and other ratios that have to do with the sale performance to determine if the company generates profits.
3. Market share: As the most important goal of Poca is to obtain the most the market shares in the industry, market share is very crucial as an indicator for the company’s excellent performance. Poca is going to check whether it has reached 30% of the potato snack market and 60% of the snack market generally. This reflects the practicality not only of the marketing plan but also of the corporation objectives.
Customers’ feedback: to all producers, customers are considered a very essential and influential source to maintain the business of firms. Understanding their importance role, Poca concentrates on consumers’ attitudes and feedbacks. To make sure Poca snack is up to expectations, the company always encourages customers to give feedbacks, both on the official website and on the kiosks when Poca provides free trial for new flavors. The more satisfaction with the products’ tastes Poca gains, the more customers the company attracts to generate profits. This plays an important role of building the consumers’ loyalty which is vital to a comparatively new brand name like Poca.
Budgets: financial status is important because the very first aim of Poca is to make profits. If all the strategies are done well, the company’s budgets will significantly increase so as to allow Poca to carry out other promotions. As mentioned above in pricing strategies, Poca has a quite high producing cost. However, the company has a high initial capital and efficient marketing plans, which make all incurred cost affordable. The budgets are under control of finance department. Thus, the marketing department has to run in close connection with finance department to utilize the most of company’s budgets.
1. Reference List
1. Christ, M 2007, Your Consumers from Head to Toe, course readings from MKTG1205, RMIT University, Vietnam, viewed 25 August 2008, RMIT University Black Board. 1. Indexmundi, 2008, Vietnam – GDP – real growth rate (%), Indexmundi, viewed 29 August 2008, 1. Jackson, J & Mclver, R 2005, microeconomics, 7th edn, Mc Graw Hill, New York.
1. Khai, NH 2008, ‘Thi truong snack cua Viet Nam’, The Market Newspaper, 15 May, p.9. 1. Poca snack, 2008, Poca snack, viewed 01 September 2008, <http://www.poca.com.vn/>. 1. Population Reference Bureau, 2008, Demographic & Health Highlights, Population Reference Bureau, viewed 29 August 2008, http://www.mpi.gov.vn/Pages/default.aspx