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MKT 243 : Fundamental of Marketing
Transcript of MKT 243 : Fundamental of Marketing
produces consumer product which is a product bought to satisfy an individual’s personal wants
a shopping product
a heterogeneous product
Packaging and Labeling
Product Development Process
i) Idea generation
ii) Idea screening
iii) Business analysis
v) Test marketing
uses direct channel in which we sell directly to consumers
adopts on-line shopping channel
Functions of Distributors
i) ADL contacts our customers and promote our products as well as takes order directly from our customers.
ii) ADL also negotiates with our customers to determine what products they are going to buy, when will the orders should be delivered and when will the customers going to pay their orders.
iii) ADL is expose to risk taking where our marketing channel takes up the risk of keeping the stocks in our stores.
Levels of Channel Distribution Intensity
Adopts selective distribution
The consumer must search for the product in order to buy it
This will gives us more control and less cost
ADL's used promotional mix to informs, persuades and reminds potential buyers of a product in order to influence an opinion or elicit a response.
GOALS OF PROMOTION
TYPE OF ADVERTISING
Focus more on sales
The advertisement are intended to inform the people about a new product.
Mohamad Hanif Mokhtar
Nor Adira Abdul Razak
Fauzan Mohd Najib
Muhammad Affeeq Fiqry Mohd Yusoff
Nurul Asyiqin Rosemi
Siti Hajar Nadzari
Name of the company is ADEERABYLINE. AdeeraByLine (ADL) is a company that produces shawls to Muslimah.. We take into account of simplicity and comfort in order to produce our shawl besides we put an effort in order to fulfil our customer’s demand as most of Muslim women nowadays demand for the shawl that was based on Shari’ah and not cultural habits. Thus, we come out with this idea in order to fulfil their demand by using high quality of material which is it must be not so thin that one can see through it. AdeeraByLine shawls were launched in 15th December 2015 and AdeeraByLine has now expanded its collection by introducing elastic, modern yet chic collection where the designs reflect the changes of the seasons. The name of ADL’s is derived from the name of the owner which is Adira (Adeera) and by line is it shows the way all muslimah wear their shawls properly and follow Sharia’ah.
To emphasize all the muslim the importance of the prayers lies in the fact that no matter what actions one performs in his life, the most important aspect is one’s relationship to god, that is one’s faith (Imaan) , sincerity and worship of god ( Ibaadah). This relation with god is demonstrated and put into practice, as well as improved and increased, by the prayer. Therefore if the prayers are sound and proper the rest of the deeds will not be sound and proper.
We want to encourage Muslim women to wear shawls that follow the trend nowadays but must taking also into account of Shari’ah compliance. We also want to offer our products in domestic market as well international market.
fulfil the demand of our customers
encourage Muslim women to wear hijab but must not contradict to the Sharia’ah compliance
. In 5 years, we target to penetrate international market
'Style me pretty'
a) Product identification - allows ADL to distinguish its product from all other products.
b) Repeat sales – Branding (AdeeraByLine) helps to identify its product then generate repeat sales
c) Facilitate new product sales – Useful when introducing new products to the consumers as they already have built their trust in the product quality.
Attention - sales promotion are developed. The promotion manager is responsible to gain the attention of target market.
Interest - we try to create customer’s interest in the product through good sales presentation and demonstration.
Desire - we produce the product that is high in demand to satisfy their needs and wants
Action - we give discounts for those who purchase our product for more than three pieces of our shawl.
MEDIA DECISION IN ADVERTISING
ADL’s use internet as medium to convey a message to target market.
SALES PROMOTION TOOLS
given to consumers entitling them to immediate price reduction when they purchase the item
ii. Loyalty marketing programs
reward loyal consumers who made regular purchases of any types of our shawl.
The pricing approach used by AdeeraByLine (ADL) is price-lining tactic where a series of prices for a product line with several items at specific price points are established. In setting prices, 3 internal factors are consider:
its overall marketing strategy where ADL targets to become a trendsetter to all muslimah
the company’s objective to become a leading shariah compliance shawls supplier
the company’s marketing mix (the 4P’s) in setting its products’ prices.
adopts the status-quo pricing
where it sets the products’ prices to contemplate with the competitors’ prices. It meets the competitors’ prices by following the prices of products set by its competitors.
Establish pricing goals
ADL's wishing to be a market leader in this industry by providing of high quality shawls made of imported high quality chiffon around Klang and Shah Alam.
Estimate demand, costs and profits
Quantity of products demanded depends on elasticity. After establishing pricing goals, ADL estimates the total revenue at a variety of prices and determine corresponding costs for each price.
Choose a price strategy to help determine a base price
Status-Quo Pricing :
A method where the price is set identical or close to the competitors’ price. Since ADL is a small firm, hence it chooses this objective for long term survival.
Fine tune the base price with pricing tactics.
ADL sets its products’ general price levels correlates with pricing policy which is at the market price (Status-Quo Pricing).
Sometimes, ADL adjusted its base price to meet competition by fine tuning the base price.
they consider the market and demand of customers
this is the important factor of ADL’s pricing approach is that it examine the competitors’ strategies and prices.
MKT243 : FUNDAMENTAL OF MARKETING
thank you :)