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PART 4
Product definition
Product
o Features
o Advantageso Benefits
Needs and wants being addressed
Findings from industry experts
Findings, insights and input from credible industry experts to
lend credibility to the
chosen product concept
Findings from consumer research
Findings insights from consumer research about the product
o Acceptance
o Purchase frequencyo Usage
Estimate existing market size and potential of product
Based from existing data
Computations, estimates from data and info from cons
PART5 general marketing strategy
Right to left planning*problem: come up with the tactics
first
Always begin with the end in mind
The end should be the goal/ vision
These should be specific and quantified
The more exact the measures, the more you can manage your
resources and
concentration of time, effort and money
If you cannot measure it, you cannot really manage it
*VMOKRAPISPATRES
Vision, mission, objectives, kra, pls,strats, programs, actives,
resources
Brand vision BE A futuristic picture of the brand, described in
words or a vision statement
It should be time bound (3 to 5 years)
Ambitious but realistic (*BHAG)
May have a geographical and target market focus that would help
you plan strategically
The vision can also be in relation to the company
It is something to pursue
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Rand mission statement DO
The basic purpose of being for the brand
Basic purpose includes earning a decent return and getting a
share of the market
Mission statements specify the product or service to be rendered
and the market
Mission statement = something to achieve
Relate to mother companys vision and mission
Brand objectives
Measurable END results that translate the vision and mission
Objs usually centre around 4 major ends
Sales and profits
Expanding markets
Satisfying customers with quality products
Providing reasonable compensation/ benefits to employees
Brand kras
The attainment of the obs or measurable end results could be
described by key result
areas
Kras are proofs that the objs didnt catch it
E.g. growth in sales vs. growth in sales per outlet
Other:
o growing consumer acceptance in the form of surveys
o Growth in market share
o Explain why those KRAs were chosen
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Brand performance indicatorso PIS are the KRAs quantified
o Discuss each PI (at least for the first year PIS)
o E.g. (tableobj, KRA, PI[3 years])
o Realistic potential market size
Target market selection (primary, secondary and tertiaryemerging
target
markets)
Consumer survey interview at least 30 people in each group
Benchmarking with original products market size (worst, better,
best
scenario)
PART 7 OVERALL MARKETING STRATEGY
brand strategy
o base it on performance indicators
o list swot and performance indicators and combine any elements
under the two
o top bottom vmo, kra, PI strat
o bottom up swot strat
summary of strategic options segment these into thematic
strategies
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o general strategic options
o specific strategic options
o and then, form major strategic alternatives
strategy formulation after listing down the strategic options,
identify what major
alternatives can be developed from the options didnt catch the
others
othero Where is your industry in terms of product life
cycle?
o Look at the attractiveness of your market and the competitive
advantage of the
mother company
STP
o Propsed target market analysis
Demographics
Psychographics
Behavioural
Geographic
Lifestyle
Motivation
Attitude
Attitude and motivation toward the product
o Total population
o Breakdown: primary target market, secondary TM and if
necessary, tertiary and
emerging TM (emerging next batch of people moving in your target
market)
o **product positioning strategy
FROM THE SATURDAY CLASS
Part 4o Basis: external analysis: KSFs and O&T
o Internal analysis: company, brand, S&W
o *Positioning and 4Ps
o E.g. chewing gum market: 100% distribution in national key of
premise of
modern trade (defined number, indicates how much its
widespread)
o E.g. high visibility in all outlets explain what high
visibility means in terms of
the product
Product definition
o **The extended product - address what are the needs being
addressed
o
Advantage and benefit (e.g.)o cheese: existing market size and
potential of the market is almost equal already
o needs addressed internally: to arrest the saturation or low
growth
o needs addressed externally: study of lactose intolerants in
the country. Example:
50% of the country are intolerant define it more. For our case,
lets find people
of our age bracket that suffer from having dandruff and
regularly colours hair
o PROVE why the company needs our brand
Estimate of existing market size
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o e.g.
o Age bracket total pop.
o Multiplied by: Gender total pop. %
o Multiplied by: Economic bracket pop. %
o Total potential market size
Right to left planning VISION
o Brand extension vision
o Vision is something you try to achieve in the time allotted
(3-5 years)
o You will never fully achieve your vision
o BHAG
Brand mission
o You can actually achieve this
o Reason why the brand exists
o In terms of its role in the company
Objectives
o A way to flesh out your vision and missiono Objectives: more
practical
o Expanding the market could mean gaining more customers or more
penetration
KRAs
o Key result areas
o A means for the objectives to be achieved
o Key result areas
o More qualitative
o E.g. obj: expanding market share how do you prove that you are
achieving a
dominant presence in the country, what do you need to do in
order to achieve a
market presence in the countryo Market share = sales/market size
or market potential
o Performance indicators = kras per year
