MARKETING PLAN
PRODUCT: WATCH (Water Resistant)
DESCRIPTION:
This product is fashionable and a water-resistant watch with different style such as heart, stars, with cartoon characters and colors that will fit the different personalities of the consumer. It is made a high quality material from different countries abroad. This can last life-long.
Based on consumer preferences and likeness, some watches may have special features such as determine the heartbeat of the user.
ADAVANTAGES:
· Comfortable or convenient to use
· Prices with fit the quality of the product
· Has a 1 yr. Warranty
· Changeable
TARGET MARKET
Geographic
Countries: Asian Countries
Demographic
Age: 6-12, 13-19, 20-30, 30 above
Gender: Male, Female
Family Size: 1-2, 3-4, 5 +
Family Life - cycle: Kids; teens; young, single; married, no children; young, married with children; older married with children; older married, no children, under 18; older, single; others.
Income: P 5,000 Above
Occupation: professionals, technical, managers, officials, proprietors, clerical, sales, crafts people, supervisor, operatives, students, and retirees.
Education: Elementary, High school and College
Religion: Catholic, Protestant, Jewish, Hindu, Born-again, and others
Nationality: Filipinos, Taiwanese, Malaysian, Indonesian, and others
Psychographic
Social Class: Working class, Middle class, and Upper middle, Lower upper and Upper- uppers
Lifestyle: Achievers, Strivers
Personality: Compulsive, Gregarious, Authoritarian, and Ambitious
Behavioral
Benefits: quality service, convenience, economy, speeds
User Status: Potential user, Regular user,
User Rates: Light, medium, heavy user
Readiness Stage: Aware, inform, interested and intending to buy
Attitude toward the product: Positive, indifferent, and enthusiastic
COMPETITOR
Brands that already exist in the market that consider
Major Competitor:
· Timex
· Swatch
· Citizens
· Seiko
Minor Competitor:
· Jewelry Shop
· Pawnshops
· Accessory Shop
· Watch Repair Shop
The major competitor that already exist in the such as Timex, and swatch are the brands that has already placed in the market and positioned their product of the mind of the consumer.
OPERATING METHODS
· Competitor may price their product more to their production cost.
· They may also improve the quality of their products and services that can lead to the increasing of their products’ prices.
PRICING
Production Cost + Fixed Cost + Mark-up Total Sales = Price per unit
MARKETING METHODS
· Advertisement through media, televisions, newspaper and flyers
· We will build our main branch and put retail outlets in the malls
QUESTIONS:
1. What are the major differences or emphasis among the 3 perspectives?
_ The product we has needs a rational perspective from the consumer, since they are careful and analytical decision maker who tries to maximize utility in purchase decision. But in some way or another, consumers may also be influence through behavioral perspective, since they may also be influence by the external factors in the environment.
And other may perceive the product through experiential perspective stressing the gestalt or the totality of the product or service experience.
2. Which is the most likely type of problem solving activity for the product you have selected.
_ Extensive or extended problem solving process with high involvement of consumers
3. What are characteristics of the product made it so?
· high risk and involvement
· Extensive research
· Multiple sources consulted prior to store visits
· Information process actively
· Many criteria used
· Communication with store personnel often desirable
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