Marketing Plan for the fictitious product. The Fictitious product being marketed is

ECO MULTI-PURPOSE TABLET that can be used for various cleaning purposes.

Product name: SUPREME ECO MULTI PURPOSE TABLETS

Punch Line: Do Goli Total safaai

Product Type: Multi purpose tablets for all your needs.

U.S.P of Supreme Eco-Washing Tablets:

True eco friendly tablets which can be used for all purposes like washing hair, removing hair, washing clothes, car, utensils etc

Form: In tablets form.

Size of Tablet:

1.5 cm

2 cm

Colour: Light sky blue

Shelf Life:In normal room temperature, 1 year from the date of packing. Always store it in its package or air tight container away from moisture when not in use

Certifications:

Ecomark from The Bureau of Indian Standards (BIS) for detergent labeling.

Product Features:

Supreme eco tablets are ecological tablets which are most suitable and safe product with great performance of the new generation.A natural eco friendly and user friendly economic and effective productA very safe soothing non irritant natural effect on the skinAs it is in tablets form where two tablets are sufficient to wash bucketful of clothes etc, it is not needed to measure the detergent and eliminates the possibility of excess use and wastage.Its tablets form and ease of use expected to be very popular in bachelor men.Improved dissolvability & dispensability – leaves no residues on the laundry.Without any kind of chemicals, artificial colors, artificial surfactants, perfumes, dyes, preservatives or animal by-products.

Product Design:

Supreme Eco tablets are least polluting , as it is phosphate-free environment-friendly detergentThis is an environmentally superior tablets that uses fewer chemical ingredients.The full product biodegrades quickly and completely.The toxicity of detergents is removed by avoiding additives like Foam Regulators and brightening agents.

The product will be available in two packages:This package is for one month which contains 70 tablets.Package of 35 tablets.This one is a small packet for trial containing 2 tablets for one use.

Market Coverage

Objective: Our objective is to cover both urban and rural areas. Initially we are concentrating on metro cities like Mumbai, Delhi, Calcutta and Chennai as we are having more scope than rural areas to get more customers, through media. We are also covering those people who stay away from their house for job and education purpose.

Distribution ChannelMiddlemen are essential elements of marketing channel. While designing the marketing channel, services provided by the middlemen, availability of the desired middlemen are to be considered. So that we have selected three tier structure. Middlemen are essential elements of marketing channel. While designing the marketing channel, services provided by the middlemen, availability of the desired middlemen are to be considered.So that we have selected two tier structure. Frequently there may be a chain of intermediaries; each passing the product down the chain to the next organization, before it finally reaches the consumer or end-user. This process is known as the 'distribution chain' or the 'channel.' Each of the elements in these chains will have their own specific needs, which the producer must take into account, along with those of the all-important end-user.

Channel members:

Distribution channels can thus havoc a number of levels. Kotler defined the simplest level that of direct contact with no intermediaries involved, as the 'zero-level' channel. The next level, the 'one-level' channel, features just one intermediary; in consumer goods a retailer, for industrial goods a distributor. In small markets (such as small countries) it is practical to reach the whole market using just one- and zero-level channels. In large markets (such as larger countries) a second level, a wholesaler for example, is now mainly used to extend distribution to the large number of small.

Distributors: We will be considering 4 regional distributors for the north, east, south and west Zone. Each regional distributor will be assigned the responsibilities of handling the key urban and sub- urban areas in their respective zones while covering the vital cities and towns in particular.

Wholesalers: Wholesaling is concerned with the activities of those persons or establishments which sell to retailers and other merchants, and/or to industrial, institutional and commercial users, but who don’t sell in significant amount to ultimate consumers.

Retailers: Retailing consists of the activities involved in selling goods and services to ultimate consumers. We want to make sure that people have easy accessibility to our product. We have selected major supermarkets, food bazaars, fig bazaars and small retailers.

Strategies:

Exclusive: Distributing through company outlets or franchisee.

Intensive: Placing the products in as many outlets as possible.

Manufacturer

Wholesaler

Retailer

Consumer

Selective: Here companies select a combination of Exclusive distribution (only company’s products) & Intensive Distribution (some important outlets which are multibrand outlets.)

Push: A push strategy makes use of a company's sales force and trade promotion money to induce intermediaries to carry, promote and sell the product to end users. Push strategy is used where there is low brand loyalty in a category, brand choice is made in the stores, the product is impulsive item and product benefits promotes the product to wholesalers, the wholesalers promote it to retailers, and the retailers promote it to consumers.

Pull: A pull strategy is one that requires high spending on advertising and consumer promotion to build up consumer demand for a product. It is appropriate where there is high brand loyalty and high involvement in the category, when people perceive difference between brands and when people choose the brand before they go to stores. If the strategy is successful, consumers will ask their retailers for the product, the retailers will ask the wholesalers, and the wholesalers will ask the producers.

We are using INTENSIVE STRATEGY as it is suitable for our product.And we are also using PUSH STRATEGY for that we will push our dealers by providing them different schemes if they met the sales target at the right time.

Following are the some of the offers we give to our wholesalers and retailers:

15% discount on the product if the retailer sells 500 Packets per month.A holiday package to wholesaler if he meets sales target of 5 lakhs packets in a period of 6 months

Pricing is another big part of the marketing mix. Choosing the right price and the right pricing strategy is crucial to the marketing process.The price of the product is not something that is fixed. On the other hand the price of the product depends on many other factors. Some times the price of the product has got nothing to do with the actual product itself. The price may act as a way to attract target customers. Penetration pricing involves the setting of lower, rather than higher prices in order to achieve a large, if not dominant market share. This strategy is most often used by businesses wishing to enter a new market or build on a relatively small market share. This will only be possible where demand for the product is believed to be highly elastic, i.e. demand is price-sensitive and either new buyers will be attracted, or existing buyers will buy more of the product as a result of a low price. A successful penetration pricing strategy may lead to large sales volumes/market shares and therefore lower costs per unit. The effects of economies of both scale and experience lead to lower production costs, which justify the use of penetration pricing strategies to gain market share. Penetration strategies are often used by businesses that need to use up spare resources (e.g. factory capacity). A penetration pricing strategy may also promote complimentary and captive products. The main product may be priced with a low mark-up to attract sales (it may even be a loss-leader). Customers are then sold accessories (which often only fit the manufacturer’s main product) which are sold at higher mark-ups.

Before implementing a penetration pricing strategy, a supplier must be certain that it has the production and distribution capabilities to meet the anticipated increase in demand.

The most obvious potential disadvantage of implementing a penetration pricing strategy is the likelihood of competing suppliers following suit by reducing their prices also, thus nullifying any advantage of the reduced price (if prices are sufficiently differentiated the impact of this disadvantage may be diminished). A second potential disadvantage is the impact of the reduced price on the image of the offering, particularly where buyers associate price with quality.

RAPID PENETRATION: Rapid penetration pricing strategies is in the introduction stage and is related to low price with high promotion. This mix of pricing and promotion encourages rapid acceptance by a wider number of segments in the market place. The strategy attempts to go after a large share of the market quickly. The market for these services is generally large and is aware of the services rendered.

REASONS FOR CHOOSING RAPID PENETRATION FOR OUR PRODUCT:

Large Market Size: As our product is a FMCG so there is going to be a large market for our product.Market is unaware of the product: As our product is a substitute for the washing powder and being an innovative one so the customers are unaware of our product i.e. washing tablets. Hence to reach the target audience we have undertaken high promotion.Strong competition in near future: As well-known branded Companies have a well established market in international market so there is a possibility that they might enter into the market after our product is launched.

Five M’s of advertisement:

Mission: Advertising objective of our product is to make users aware about the product the amount they should use for washing cloths. They are being guided by this advertising how this is to be used and how we can make optimum utilization of the product. The mission is to target everyone especially women and students staying away from home.

Message: “DO GOLI TOTAL DHULAI”. This is the message by our product. This is the product which gives total protection for the body and young generation things about the hygiene 1st and then money. Our product is also socially responsible because we don’t harm the environment and hence this makes our product a unique product. Media: Media is the most important factor which will makes our product aware and known to the users. The media which we are using is television, newspaper, magazine, hoarding, billboards radio. These are the media which we will use to make product known to users.Television channel which are mostly seen by ladies which is our target customers and also seen by the students who stay away from home will be a major source for our promotion. Newspapers is one way where we are going to give samples free with newspaper i.e.; 2 sachet.We are also using mobile vans which will be educating customers about the product and in initial stage will also give free samples which will give us best promotion.

Money:

Our product is new and innovative product so customers are not aware about how to use so the media which we have used is costly but this will always increase our sales and make our product best in the market. We are concentrating on the television 1 st

and then newspaper by giving them sachet. Money places a major role because here it has to keep in mind many aspects of the product. Estimated cost is 2 crores which is perfect for our media which we have chosen. We have non competitive market at present because we are 1st to innovate this product. Even though our product is priced high we can capture market because young generation they think about environment and there own safety. Our product is free from harmful a chemical that is eco-friendly which makes it unique and which is a great advantage to us.

Measurement: Our product is measured by the increase in sales we have noticed that our sales has an increasing sales graph this positive response of customer has showed us that our product has reached to people within there mind and heart. We have traced the sales which are giving us positive result. Invite the sample of customers show them the advertisement for initial measurement of effectiveness in communication.

Promotional objectivesTo support sales increasesTo encourage trialTo create awarenessTo inform about a feature or benefitTo remindTo reassureTo create an imageTo modify attitudes

Promotion Mix

CONCEPT MARKETING A product cannot be promoted or made well-known unless it is marketed properly and in the right manner. Thus, concept marketing basically tries to inform the consumers in the market about the launching of the new product cum service, its features, merits, utility, usage, etc… Thus, the concept marketing is given more emphasis and importance in order to promote a fictitious product. All the major modifications and diversifications in this service will be made keeping in view the wants and needs of the target consumers. The features and characteristics of this website should go hand in hand with the likings and interest of the consumers.

Concept marketing includes the following processes and activities:

1. Understanding the needs of the customers: The product will be designed as per the needs of the customers. The target consumers such as housewives, teenagers, fast life people, hostellers, college students, etc are usually interested in trying out new and innovative product which they won’t be able to practically make it possible. The college students staying in hostel will also be benefited by this product. Thus, the major aim of this product will be to fulfill the wants and needs of the consumers in the best possible manner. 2. Creating Awareness: Even, if the product is produced using the latest machinery or equipments, with better scientific techniques and manufacturing operations, the marketer won’t be able and succeed in increasing the sales of that particular product unless the product is known to the customers. Thus, creating awareness among the consumers regarding your product and its features is an important step which has to be taken in promoting the product. In order to create awareness among the target

PromotionComponents

PublicRelations

DirectMarketing

SalesPromotion

PersonalSelling

Advertising

Interactive/Internet Marketing

consumers about the launching of this product and its features, merits, utility, how to access it, etc… Various seminars and workshops will be conducted . Many bill boards, hoardings, posters, etc… will be placed at various strategic locations in order to promote this product/service.  3. Initiate the product/service as solution:  This product will be initiated to solve the problems faced by the consumers. Keeping in view the difficulties and problems faced by the consumers, this product is launched and activated. Through workshops and seminars, the consumers should be made aware that the problems they are facing currently will be solved if they make use of this product. This product will help the consumers in the following ways:- It will save much of their time which is otherwise wasted if they go on to do such things themselves at their home. They don’t have to wait for long as our product aims to deliver the work done at a faster speed. They don’t even have to bother about the ingredients which can harm there skin because our product is eco friendly.  4. Creating satisfaction in consumers mind:  The major aim and goal of this particular product is to take the consumers into confidence by making them realize that they will gain complete satisfaction after using this product. They will have no discontentment regarding the product and if they do have, they can very well give their opinion by way of feedbacks. They can also give any suggestions if necessary and that will be implemented if it is logical and approved by the committee members. Their suggestions and point of view will be given due consideration as the consumer is considered as the king of the market. The existence of a product/service highly depends upon the likes, dislikes and reactions of the consumers towards the product and the level of satisfaction gained by them using the product

PRODUCT EVALUATION

SWOT ANALYSIS

Strengths

Pollution free wash Environment friendly Health friendly Effective washing capability Easy to use Competitive pricing

Weakness

Difficult to switch consumers from their current brand Requires high promotion

Opportunities

Increasing demand for the product Subsidies from Govt. as product is Eco-Friendly General lack of awareness about adverse effects on environment & health

Threats

New entrants like HUL, P&G may come within a very little span of time .Beauty parlours using traditional waxing,manicure,pedicure methods.

PRODUCT LIFE CYCLE

Introduction Stage:In this stage the market will be low as it is newly introduced in market. It will take some time initially for the product to get much attention from customers. The competitors are none as it is an innovative concept first time to be commercialized in India. But it is necessary to make customers aware of the innovative change and environmental as well as health safety of using this product. Strategy used in this stage would be Rapid Penetration, done through advertisements and promotional events and personnel selling. The profits are as good as none as product will just maintain the BEP.

Growth Stage: Here the market starts growing we will undertake mass production to enjoy the economies of scale then with reduced direct cost, company will offer discounts to the intermediaries like retailers for pushing them to pull customer to enjoy the more profits. Sales are increasing very rapidly, profits margins are improved, pricing for the final product is kept constant.

Maturity Stage: The sales were rapidly increasing and the competition to stand is getting tougher. The profits were high as it very much acceptable in the market. The competitors had come up with various offers. The supreme eco-multi purpose tablets product is newly introduced with different natural and ecological fragrances. Also new improved packaging will be adopted to renovate the product. Decline Stage:In this stage we will launch fabric and skin brighter tablets which will be as ecological as supreme but at the same time keep on marketing the supreme multi purpose tablets with a slightly reduced pricing.

SEGMENTATION

DEMOGRAPHIC SEGMENTATION Demographic segmentation involves analyzing the observable and measurable features of the population. Such features or variables include age, sex and family size, stage of the family lifecycle, income, occupation, education, religion race and nationality. Segmentation by reference to demographic variables will pay a major role in focusing on the target market and consumer’s need’s, preferences and usage rate are directly related to these variables. The main demographic variables which affect our product are expanded below.

Income: Incomes can be grouped to give rise to target markets for given products.Age and Life-Cycle Stage: Consumer needs and wants change with age. The segmentation would be between people of the age 20-45. Family lifecycle refers to the progress of life through its various stages, which can be classified and used as a useful method of segmenting markets for such products and services.

Age and Life-Cycle Stage: Consumer needs and wants change with age. The segmentation would be between people of the age 20-45. Family lifecycle refers to the progress of life through its various stages, which can be classified and used as a useful method of segmenting markets for such products and services.

PYSCHOGRAPHIC SEGMENTATION Segmentation by reference to customer’s psychographics involves sub-dividing the market on the basis of how they live rather then on how much they earn. The maintenance of quality or standard of living is determined by social class and lifestyle. Social class: There is, of course, a strong correlation between social class and income. Social class can be used by us in conjunction with age and income to provide a strong base for targeting of our products Lifestyle: Lifestyle aspirations influence individual choices about consumption and buying lifestyle refers to the patterns and modes of living that have been adopted by people as their approach to life. Our markets segments are formed on the basis of differences in which products facilitate and improve the lifestyle of people. In order to identify lifestyle segments, we have to measure consumer’s interest, activities and opinions. Therefore following are the segments: a.      The conservative consumerb.     The outgoing consumer c.     The price oriented consumerd.     The fashionable consumer Now, this will vary according to the product type. This can be particularly advantages to investigate prior to moving to promoting our product. Understanding this can help us assess the appropriateness of the product

channels and enable us to customize the product according brand image which the customer will find more attractive.

BEHAVIORAL SEGMENTATION Behavior segmentation involves dividing people into sub-groups on the basis of their knowledge, attitudes and use of a product or service. These behavioral characteristics can be used to analyze customers and group them according to their:User statusUsage rateBuying habitsMotivational factors User status: The user status of customers makes a big difference to way you approach them. They can be non-users, ex-users, potential users, first-time users and regular users of a product or service. Attracting non-users and first time users would be a challenge which could be met by persistent awareness among people about internet and our service. As our product is aimed at regular users might be very cut down, offering instant response and choice because it didn’t have to worry about losing new customers. Understanding the user status of our customers therefore is important. It is most likely in the first decade of the launch; our priority will be attracting regular users or non-users and helping new users.

Usage rate: Markets can be segmented into light, medium and heavy usage groups. Heavy use of a product tends to go with greater price sensitivity, or demands for a higher level of service.  Converting a heavy user into our customer will save on customer acquisition costs- marketing – and should be a priority. Lots of light users are going to cost more per head to attract and consequently will deliver poorer margins.

Buying habits: Buying varies by product and within products. Some products require regular repeat purchasing, while others are bought infrequently. Some customers will buy regularly, while others only occasionally. Understanding the customer’s attitude to purchasing our product will help us tailor the process to suit his or her needs. Evidence is emerging abut some categories of customers willingness to buy online.

Motivational factors: What people do on the internet reveals what motivates them. If we able to appreciate what motivates our potential customers we can attract attention and so have a good chance of eliciting action. Many companies promote themselves online without the first understanding of who it it is they are trying to attract and what motivates them.

TARGETING

SELECTING TARGET MARKET

 We have identified our market segment opportunities, we now have to decide how many and which one to target by evaluating the segments. Segmentation and targeting help the firm understand not only the characteristics of each of the segments but also the distinctive excellence that is required for catering to the specific needs of the consumers in each of them.

Among the 5 patterns of target market selection, Product Specialization is the one which we would be concentrating on. To elaborate:As our product is a basic necessity of an individual we are offering our services to customers at different locations within the city covering the prime locations where our target customers are situated. The only thing that we expect from our customers is that they should try our product once. To be specific, our target or market segmentation is huge. At the launching period would be metro cities and the urban people. People between the ages of 20-45 with an average income and occupation.  Further, our next target market is the group of people who have a previous category criteria but their lifestyle influences or has a major impact on the buying habits of the consumer. People who spend minimum 1 hr on washing clothes, cooking, maintaining themselves, people who like to talk about their purchases etc are going to be very unique and we would categorize them as fashionable customers.

Next would be people who have a very fast life like the Global workers who may be entering their office at 9 a.m. in the morning but don’t know when they leave the office or do they even leave the office the whole night. These are the people who want things to come to them, so our product welcomes such people  The next market target is similar to the first one but the only difference is that these people are single parents or Our product has stringent quality control measures at each level of processing. The best and our ultimate target market are the people who are living away from home and need one stop shop for all there basic needs. The above mentioned target markets do have the purchasing power because we are focusing at people who have an income below Rs.10000 and above.  Our target market is not restricted to a particular age group or sex but is catering to different markets with initially one product which is of any variety. But later on adding to it and supplementing the product whereby we will be diversifying our products on the demand of customers for such product rises. This will help us cover the full market gradually as we will be catering to different market segments with different products. We will also gain mileage as we were the 1st one to establish such a concept. This aspect or point will increase total sales, it might also increase the costs but as we look forward to gradual and profitable growth rate, the cost factor would be taken into constant check. For which, proper allocation of resources and positive and favorable budgeting is a solution to control costs.

POSITIONING

Positioning is not what you do to a product. Positioning is what you do to the mind of the customer with your product.

Process:

Understanding the customer need: During analysis of our customer need we came across that the basic customer requirement was that they need a product which is harmless (chemical free), is eco-friendly (personal care with environmental friendly), cost effective & less wastage.

Understanding the current occupant in the minds of a customer for their need: During analysis no one in the category of harmless or eco friendly positioned brand were found but many cost effective in different categories like cost effective and for middle class women(working & non-working) were found.

As now-a-days health and personal care being a very important factor, we are positioning our product keeping the former in mind. Ranges of products are available in the market which are more focused on cost, but our strategy brand positioning targets “Women” (home makers, working women)-health & “eco friendly” .The reason being as mentioned above that more & more women today focus on internal as well external health, which includes skin etc. which gets affected largely due to the use of harmful chemical products. We thus are positioning our brand in this segment.

Using perceptual maps to help the positioning process

PricePrice

QualityQuality

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-- ++BB

AA

DD

CC

Key: Key: ---------- = customer ideals= customer ideals= brand positions= brand positionsAA

CONCLUSION

 We have tried to give our best to the project. We have incorporated all the relevant marketing principles which could be associate with are product and has made our fictitious product look so realistic that it could be turned into a full-fledged plan and implemented to offer such a unique service.We express our gratitude to our Respected Prof. Mrs. Pallavi Mathre. She very keenly showed interest in our idea and has been our beacon throughout the project. We were highly motivated by the interest she’s shown in our project. We have dealt with this project very conscientiously and sincerely. We hope to keep doing such interesting projects in the future.

 Thank you.

BIBLIOGRAPHY

BOOKS:

MARKETING MANAGEMENT BY PHILIP KOTLER

WEBSITES:

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