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MKT 2120 (Latest)

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by

Wong HinLong

on 6 March 2013

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Transcript of MKT 2120 (Latest)

MKT 2120 Entrepreneurial Marketing Agenda Background Information

Critical Issues

Recommendation Background information D-Bamboo One-Stop Home and Garden Shop Place: Chaguanas, Trinidad and Tobago Vegetables Seedlings

Gardening Supplies

Ornamental Flowers Background information Promotion: Flyers, small posters Background information 2010 2005 2002 Restaurant Open Restaurant Closed Insurance agents
Shipping agency
Customer Service dept.
Marketing Manager 2007 Decorating Shop Quit as Marketing Manager Plants/ Fertilizer Similar Product Mix Sales
Drops Competitors
Increase Product Promotion Price Place Product variety too wide ? Critical Issues Product Promotion Recommendations Insufficient Promotion &
Limited resources Distribute flyers nearby Before the Grand Opening Giveaways of sweets and balloons to children Discounted seedlings free plant After Opening Chaguanas in Trinidad And Tobago
Ground floor of a three-story building in second-busiest area
Next to busy intersection with high vehicular traffic Location Relocate the shop? New business direction? Similar product mix with competitor lower the competitive advantages Add new products/services? Cut out non-profitable/low turnover products? Car park expansion 30% losses Grow Lamp Replace natural sunlight Flexible in lighting time Reduce workload Product Varieties Provide different plants in different seasons Cut back product with lower turnover rate Landscaping services Growing Trends Attend various courses Young professionals are interested
Had received several enquiries for such services Increase abilities in commercial landscaping design
More business chances Area of shop is limited Turnover of some products are low Discounts
(price sensitive customer) Keep track on customer profile
(satisfy specific needs) Build a long term relationship Redemption
Programme Membership Programme Professional advisory service Collaboration With Environmental organization With Government Give credits to company who are actively participate in environmental protection The Big Tree Plant funding scheme With Schools school planting scheme Stayed in the current location Limited resources Seasonal Tips Gardening Calendar How-to Brochures Recipes Gardening Days Videos Services limited funding TT$55000 in cash Sales growth not as expected Easy to access by current customer loyal customer base Q&A Case study #1:
D-Bamboo Home and Garden Shop The existing Cost-plus pricing Strategy Alternative 1:
Increase prices slightly Improve shop’s cash flow situation

Change the image

Offset the lower volume of product 7.5% sales Drop Kept the price lower than nearby Competitors

Attract customers (Price Sensitive) Alternative 2:
Remain Unchanged Monthly sales and expenses Operation expense to sales ratio Price Price Adjustment Offer seasonal discount sales Promotion at Summer Increase the price of exotic plants used in religious ceremonies Expenses
Revenue X 100% Online Service D-Bamboo Web page Ordering Service Reach new segments Build potential customer database D-Bamboo The Shop in current location was recessed Not clearly Visible

Recessed at an angle from the roadside Space in front of the shop was limited & not enough Greater Competition Expansion of the car park

Display plants & get adequate sunlight

Additional space for greenhouse Similar Product Mix

Getting Nearby Losing 5% of customer Not affected by weather Resin pots spray cans
Full transcript