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Presentation Details

• Slide 2: Market Research
• Why?

A systematic research is required for the Snakpak marketing plan to work

(it is important to know to do a proper research for the marketing plan to work)

• How?

We use Primary and Secondary Market Research

Primary: Conduct surveys to find about consumer needs (reach out to customers and know about their needs and expectations about our product)

Secondary: Gather information about our product’s competition from trade journals, newspapers and magazines (we gather information about our competition and customer’s behavior from newspapers, magazines etc)

Slide 3

• Economics

We will identify the following factors

• Find about the size of market for Snakpak ( how many people will use our product)
• What is the demand for our product? (is there any demand for the product?)
• What is the opportunity for our product among other competitors? (what is the status of the same products from our competitors)
• What are the threats to our products and how to overcome them? (know about government regulations and other factors that could have a negative impact on our product launch and find solutions to these problems)

Slide 4

• Customers Identification
• Identification of target customers for Snakpak product (who actually is our actual customer?)
• Customers Age
• Customer’s Gender
• Customer’s Location
• Customer’s Income
• Social Class (middle class, upper class or lower middle class)
• Education Level

Slide 5

• Competition Identification
• What other companies are the competitors to Snakpak?
  • List of their names and addresses
  • We will compare Snalpak product with competitors’ products according to:
• Price ( this helps us fix a price for our product)
• Quality (what should be our quality compared to our compitetor)
• Location (where is our competitor present e.g. superstores, local shops etc.)
• Sales methods (What are the sales methods used by our competitors e.g. by phone, in shops, on internet etc. )
• Advertising (what type of advertisement is used by our competitors)

Slide 6

• Strategy
• Promotion (devise a promotion strategy)
• Promotional budget (how much money will be spent on promotion?)
• Distribution channels (who will distribute our product in the market?)
• Locations to launch our product (where should we start to sell our product to know about customer’s response in detail?)
• Pricing (what should be the price of our product in the light of market research?)
• Sales forecast (what is the expected sales )