Marketing strategy
A
good marketing plan will help company especially us to improve against more
experienced competitors. It enables us to recognise and take action on any
trends and consumer preferences that other companies have overlooked, and to develop
and expand our own selected loyal customers for now and future. It also shows
to others that have carefully considered how to produce a product that is
innovative, unique and marketable and improving the chances of stable sales and
profits, the reasons for investors to financially back. The marketing mix is
the most crucial stage of the marketing plan process; distribution, price and
promotion.
Distribution
Our
Able Group has been always focusing on the students of University of Malaya,
and other students who are living in Petaling Jaya such as MAHSA College students
and KDU College students. Since our market is centred at UM geographically, we
have decided few UM colleges as our principal. We will then distribute to the
customer at the principal nearest to the customer. For customers outside UM, we
will deliver the goods directly to the place agreed with customers. Certain
amount will be charged on the service.
Pricing
Able
Group are priced with the competition in mind. Instead of setting high price to
show how prestigious our products are, we decided to set lower price so that
the customers feel comfortable purchasing our product. Since our product faces
the threats from its competitors likes Fello Design, and Jelita Furniture, so
naturally pricing is done keeping in view the increasing rivalry with the
competitors. Basically, pricing is standard for all over the marketplace. Price
changes occur after a longer period of time such as after one year. In
addition, the price offering by the competitor are too high as the quality is
high. We focus on students more, so the price is suitable with the level of our
target customers.
Promotion
We,
Able Group, communicate with our customers which are students in a variety of
ways. Even we are online and our business involve in the furniture industry by
distributing the product using e-shopping, information of our company and our
product is available via the internet, direct mailings and in-person. Via
internet we will advertise the information about fold-able table on bed with
different and interesting of packaging. We are planning to do sales promotions
and public relations with the students, our consumers whether in-person or
provide interesting articles and brochures to attract customers. At the same
time, we will send representatives to visit University of Malaya three times as
we monopoly that market. As distribution expands, Able Group will adjust or
meet greater demand by increasing sales staff. Other than that, we will
advertise our product and company through newspapers and spread mouth to mouth.
Company Sales Process
The
sales process that we are going to do is identifying the relevant sales steps.
We will follow a few sales from the initial contact through the successful (or
unsuccessful) delivery of our product or service. List the important steps
along the way, and evaluate them for their timeliness, efficiency, and
effectiveness. If any redundant and unnecessary step is found, we will try to
solve and eliminate it immediately. For each step that moves a sale forward, then
identify the positives of our strongest salespeople and the negatives of our
weakness. Lastly, we will create a sales process map that's easy to follow, and
document it as part of our new sales process.
