Major Aspects of The Marketing Plan

Major Aspects Of The Marketing Plan Goals:
The decision by a potential customer to purchase other car can be broken up into a series of yes or no questions devised for goal setting purposes. These are as follow: Step1: Is the customer aware of brand name? Yes: Proceed to step 2. No: Customer must be educated about car and brand name . Step 2: Does the customer understand the benefits car? Yes: Proceed to step 3. No: Customer must be educated about the benefits of Toyota Carriage. Step 3: Does the customer see the price/ benefit ratio as a good value? Yes: Proceed to step 4. No: Customer must be educated on the value car name. Step 4: Will the customer purchase the product? Yes: A sale has been made and the objective achieved. No: Any remaining obstacles must be removed. The goal of this plan is to realize, view and consequently remove all obstacles that lie in a customers way of making a buying decision for the product.
Objectives: To achieve the aforementioned goals we have to establish certain objectives: Objective 1 :
Increase customer awareness . This applies especially to those customers who have no information or awareness whatsoever of the products existence. This objective will aim to achieve our first goal as listed above. Objective 2: Increase awareness in the minds of potential customers who perhaps dont yet understand or realize the benefits and value of car. Examples of such cases are where an individual or group just doesnt distinguish the car from other similar ones out there in market within the same price bracket enough to vouch in favor of it. In other cases people might just prefer another brand or model altogether or even just not see the point of Shelling out the extra buck to buy a car and switch to personal transportation from public. Achievement of this objective will mean steps 2 and 3 have been completed from our list of goals. Strategy: To accomplish the objectives we outlined for ourselves, geographic, demographic, psychographic and behavioral information which weve gathered must be used to develop a target customer profile. A promotional campaign could then be developed with a certain relevant theme in mind which appeals to or catches the eye of people who match the criteria of the said customer profile. , a huge part of our strategy centers on product differentiation, whereby we differentiate our physical product from competition and alternatives alike. This is certainly possible in the case our company, mainly due to the fact that the Carriage will be the cheapest economy car in the country upon its release into the economy car market. Image differentiation techniques must include relating the benefits to the target customers that suit the profile criteria as laid down in our target customer profile. This strategy can and will be implemented through four main channels: 1. Creative television advertisements designed to appeal to the target market.
2. Frequent advertisements in the newspaper and magazines to persuade the customer. 3. Billboards and posters will be used in the metropolitan areas to keep reminding the customer. The advertisements will be used to make people aware that something new is about to arrive. Catchy captions will be placed on these billboards to get people to notice it. The promotional campaign will create brand and benefits awareness for Chinese car right from scratch. The final result of which will hopefully be increased trial and subsequent sales.
Financial Projections And Budget The following costs are estimates based on rates we have gathered from different sources of media management. Media Channel Per Unit Cost in Rs. 10000000 2000000 25000 200000 No. of Units Total Budgeted Cost in Rs. 150000000 100000000 12500000 20000000
Television Billboards Magzines Newspapers
15 50 50 100
From the budget above we expect our total promotional expenditures to be around Rs. 10750000. The per unit production cost is Rs. 70000 per car. Our initial estimate of production is around 100,000 cars a year. That brings the total production cost to Rs. 7000000000. The promotional costs are approximately 282500000. In order to find the per unit cost of selling a car we add the annual promotional and production costs and divide the result by the number of cars produced annually: Rs. 7000000000 + Rs. 282500000 = Rs. 7282500000 Rs. 7282500000 / 100000 = Rs. 72825 per unit
We have the total costs of producing a car. Now we will simply add a markup to the cost price of the packet to arrive at the retail price. Now we can add a 40% markup: Rs. 72825 * (40 / 100) = 29130 Rs. 72825 + Rs. 29130 = Rs. 101955 The total price after adding the markup is Rs. 101955 for a car. While the total cost for a car is Rs. 72825 per car. In the first year if our promotion strategies are successful the expected sales will be 100000 cars. This means in the first year we will have revenue of Rs. 10195500000 and our costs will be 7282500000. Thus we will earn a profit of Rs. 2913000000. This is a satisfactory return given that our product will be the first of its kind in the market. This level of profitability has only been possible because of the strong marketing program that has been developed to provide Toyota Carriage with the promotional support that it requires.
Control And Evaluation It is vital to monitor and measure the results of the plan at various different stages. To determine the product launchs success in achieving the objectives of increased awareness and intention to purchase, the following steps will be taken. 1. Closely observe sales and potential customer traffic during the product launch to mark the initial response about the product. 2. A survey should be conducted about whether or not people have heard about the product. If they have heard about it have they made the purchase or not. If they have purchased it did they like the results or not. 3. Have ghost customers ask car dealers questions about the product. In this way
any misconception about the product will be removed before they spread too far. 4. Compare the campaign measurement results with the campaign expenditures to determine the success of the overall marketing effort.
Setting price Pricing objective: In term of quantitative objective the main target of company is to achieve the require margin 10%. Get sufficient return on investment of company main aim is to penetrate in market so it major focus on market penetration to increase volume of sales to get economy of scale .because of company sale at low price with more feature as compare to its competitors .and market is large with elastic demand and competition is intense. Comparing price quality strategy: Product quality is medium and price is low it lies in good value quadrant. We are offering good value to a large market our demand will also e high .our price is based on customer value . Pricing method: Our price is based on research customer rating the importance of attribute ,and willingness to pay .we avoid cost oriented pricing because if it is lower than precived valur company suffer lost of margin.and if it is higher than precieved value company will lost sales . so we set our price on research .after conduting a survey in UCP .we set a price 700000 majority of student respond that they will buy a rapido.

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Major Aspects Of The Marketing Plan Goals:

Television Billboards Magzines Newspapers

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