Download - EDIT Marketing Plan_2
-
8/3/2019 EDIT Marketing Plan_2
1/13
Marketing Plan for Green Paper Mills
Situation Analysis:
In the situation analysis we are going to talk about the background of our business,
Green Paper Mills; accompanying with the strengths and weaknesses of our product.
We will also talk about the market opportunities and threats for our product. We will
also do a competitor analysis for our product in market.
Background of our venture:
We are trying to commence a business with environment friendly recycled paper
which is a common utility product in our country. Paper is always in demand and we
believe the low cost high effiency production plan we are employing would enable
us to produce quality paper, with less cost in an eco friendly environment. Thus the
name Green Paper Mills.
Strengths of our product:
The strength for our product is that we are using all international technologies, which
majority of our competitors do not understand. As we will be targeting mass market,
so our production is massive as well, thus our production cost goes down, making
our product more affordable for the consumers. Also we shall be incorporating eco
friendly technology to produce recycled paper, which will keep costs down and help
the environment at the same time.
-
8/3/2019 EDIT Marketing Plan_2
2/13
Weakness of our product:
As we are using a new technology, we do not have enough dependable workers to
operate our machines. They are not dependable because, they are used to working
with older technologies. To them recycled paper created in an eco friendly procedure
is a new concept. Therefore the introduction of this new technology can be a
weakness for our venture as well.
Opportunities for our product:
We all know that there are many existing companies who are selling paper to the
market. Therefore, the need and want and demand of these customers has already
been studied and known. So, we do not need to spend an extra budget for our
research and development section. Thus, this advantage is an opportunity for us. This
is because the product can be priced less compare to the competitors as they spend
on R&D and we did not.
Threats for our product:
The important threat for our product is that the duplication of technology. As we
have stated before in our strength which is reusing old paper to keep costs down, part
that our important attribute is the introduction of new technology. Now, after seeing
we to be successful if our competitors imply this change then this might turn into a
threat as they can hire my workers who are expert in the field of paper recycling, but
we did not get such advantage.
-
8/3/2019 EDIT Marketing Plan_2
3/13
Competitor analysis:
Paper industry is a massive industry in our country. However, there are very few
large scale paper manufacturers in our country other than Karnafuli and
Bashundhara. There are other minor brands which are not even known to many
people, they targeted a small sector and they are happy serving those petite group.
Some of the producers differentiate themselves by offering superior quality but with
high prices. Since paper is a commodity product, so to sustain in the market the
competitors need to price them less, so they try to be cost leader in the market by
providing the good in a cheaper price by compromising its quality and uniqueness.
-
8/3/2019 EDIT Marketing Plan_2
4/13
Target market:
The errand market is untapped and has a large customer base. The target market for
our product will be basically all the businesses that are willing to buy large amounts
of paper in bulk. Our outlets will be located in every business and commercial areas
of Dhaka and Chittagong, where the access for our target group will be easier. This
high accessibility will be convenient services that we can provide for our target
market, which are large corporations and businesses who require massive amounts of
paper in bulk.
Marketing goals:
To meet the growing needs of the target market (B2B Consumers
of Paper) defined on the basis of geography, demographic,
lifestyle, and buyer intentions.
-
8/3/2019 EDIT Marketing Plan_2
5/13
To evaluate the competitive environment and continue to
establish a differential advantage for our product.
To establish an effective and profitable marketing mix of
product, price, place and promotion.
Marketing objectives:
To establish a customer base of 10 percent of the defined target market in
the first year.
To increase sales by 10 percent annually for the first three years.
To go global with our eco friendly recycled paper by the end of the first
five years.
Size of the market:
Size of the market is reasonably large as we plan on servicing all business units that
require paper, be they small medium or giant corporations. We are primarily
interested in B2B consumers who will require large amount of paper in bulk on a
regular basis.
Marketing Strategies- What is it actually?
-
8/3/2019 EDIT Marketing Plan_2
6/13
Ansoffs Product-Market Expansion Grid
The above diagram shows the strategies that a business may adopt and same is the
case for our organization. However, the diagram can be illustrated as follows.
Market penetration strategy
The first strategy company is looking to adapt for increasing their sales and profits.
Marketing efforts of the company to offer their existing products in the current
markets is called market penetration strategy. The best way to do is to attract
competitors customer and looking for potential customer for the existing products.
-
8/3/2019 EDIT Marketing Plan_2
7/13
Market development Strategy
Developing a new market for the existing company product is called market
development strategy. This is the process of finding new market for the
new customer to increase company performance by increasing sales and profits.
Companies can develop market on geographical such as city,country,region,stateetc
and demographical such as age, sex, gender, class etc.
Market Development Figure
A marketing manager has to think about the following questions before implementing
a market development strategy: Is it profitable? Will it require the introduction of new
or modified products? Is the customer and channel well enough researched and
understood? The marketing manager uses these four groups to give more focus to the
market segment decision: existing customers, competitor customers, non-buying in
current segments, new segments.
Product Development Strategy
Developing or modifying new products and offering to the existing market is called
product development strategy. This strategy takes time and money for developing a
new product. Marketing Manager must conduct a detailed survey to find out whether
it is feasible to introduce new product in the current market.
Diversification Strategy
Diversification Strategy is the development of new products in the new market.
Diversification strategy is adopted by the company if the current market is saturated
due to which revenues and profits are lower. At the corporate level, it is generally
-
8/3/2019 EDIT Marketing Plan_2
8/13
very risky and interesting strategy for entering a promising business outside of the
scope of the existing business unit.
What does the Ansoff-Matrix look like for Green Paper Mills?
Green Paper Millsis going to start its business initially with market development
strategy which is with an existing product and in a new market. But gradually the plan
is to capture the existing chunk of the industry along with the newly developed
market by market penetration by proving our product to be better than our
competitors. Then we plan for a product development strategy which is capturing the
existing market with a completely new range of recycled paper product. We plan on
-
8/3/2019 EDIT Marketing Plan_2
9/13
going for our product development strategy from the fifth year of our business plan by
introducing high quality low yield paper products (notebooks, calendars, diaries) etc.
The Market:
The initial target market of our product are business units who buy paper in bulk. We
will be more than happy to work at a contractual basis that is taking contracts from
the big corporations who require paper in large amounts. Eventually we will expand
to the mass market and proceed to selling quality paper and paper based products
produced in an eco friendly manner. We hope to bank on our high efficiency low cost
production facilities to keep costs down and at the same time provide a superior
quality product.
Pricing strategy:
The pricing of our products are relatively low compared to our competitors because
we are going to be recycling old used paper to manufacture new ones. As already
mentioned, we have a wide range of products, different types of papers and bulk
purchasing packages designed to satisfy different levels of customers thus we have
different preferential treatments for them as well. As we plan on expanding the
business with the introduction of new range of product (notebooks, calendars, diaries,
other paper based products) thus our start up costs can be covered at least, so that we
can carry on our business efficiently.
-
8/3/2019 EDIT Marketing Plan_2
10/13
Distributions strategy:
For the distribution & placement of Green Paper Mill products we shall use the push
and pull strategies. We will start with our retail centers in 7 metropolitan cities of
Bangladesh like (Syllhet Khulna Barisal JessoreRajshahi). From 2nd year onwards we
will expand our existence by introducing outlets in various places. Since our target
customers are B2B consumers we hope to have outlets in all the commercial areals of
the country.
Push Strategy:
This strategy will offer the dealers with a trade incentive, where they a sales
commission will be allocated based on the per unit sales.
Pull Strategy:
Once consumers use it, there will be a demand for the product by the early adopters,
whoever it may be. The word of mouth of the existing consumers can still be a great
way to get new user.
Product Strategy:
Green paper mills will prepare its products keeping the target markets in mind. The
objective of the product will be to satisfy the B2B consumers. Paper is considered to
be a necessity in Bangladesh because even in giant corporations a lot of the records
are documented on paper. Considering the welfare and the capability of our customers
we design our products in such manners that it not only fulfills their needs but also
satisfies their demands. We offer five different product ranges, (different qualities of
-
8/3/2019 EDIT Marketing Plan_2
11/13
paper) from which our customers have the liberty to choose their desired product or
the product that best serves their purpose.
Promotional Strategy:
This is the most crucial part of the marketing initiatives which would be completely
liable for creating & capturing our market. We would go for several media to reach
our targeted market through promotion. The major media would be Print, Radio,
Billboards and Activation. Initially we do not prefer to go for television commercial
as this might not return as much as its cost of airing because of the targeted market.
However TVC & other promotional media can be introduced later on after 5 years
when the company would go for market penetration.
Initially Green Paper Mills will be launched with a campaign which will show its
arrival in the industry for B2B consumers. On the second year we are planning to
develop a completely new campaign with our existing customers to increase our sales
yet further and to pursue yet more customers. Few other creative campaigns can be
executed to show its existence and to promote its offers. The advertisement frequency
will tend to increase in the peak season (summer mostly) with billboards,
commercials on radio and printed advertisements. However year long activations and
involvements in CSR responsibilities will always keep us in focus and also in front of
our customers eyes always. This continuous involvement in activities will help
customers to recognize our brand and also work as the stimulus to let people know
about Green Paper Mills, the only eco friendly paper manufacturer in Bangladesh.
-
8/3/2019 EDIT Marketing Plan_2
12/13
Measuring and monitoring the marketing planning process
There is no planning without control. Marketing control is the process of monitoring
the proposed plans as they proceed and adjusting where necessary. If an objective
states where you want to be and the plan sets out a road map to your destination, then
control tells you if you are on the right route or if you have arrived at your
destination. Control involves measurement, evaluation, and monitoring. Resources are
scarce and costly so it is important to control marketing plans. Control involves
setting standards. The marketing manager will than compare actual progress against
the standards. Corrective action (if any) is then taken. If corrective action is taken, an
investigation will also need to be undertaken to establish precisely why the difference
occurred. In a nutshell, we hope to have an integrated marketing plan which will
highlight the importance of recycled paper and how it not only saves electricity, trees
and other valuable natural resources but also helps provide low cost high efficiency
paper products for the consumers. We believe if we can communicate this effectively,
we shall be able to get massive responses from our target market.
-
8/3/2019 EDIT Marketing Plan_2
13/13