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 )