Developing a Marketing Plan DESIGNER DESK ACCESSORIES INTRODUCTION Gloria’s Gifts is a small business specialising in office accessories especially for women. We sell our small range of products via a website www.gotgifts4you.com.au and at Craft Markets (Red Hill, Flemington, Mornington) All our products are hand-made and can be custom made to your specifications. Our range of products includes: pen and pencil holders, mouse pads, magazine holders. Recently we have decided to add a range of coffee mugs to our product line. MARKETING OBJECTIVES To Increase Market Share 1. 1. Gloria would like to tap into the market dominated by Kikki K and Typo. She can increase Market Share by promoting her products as more personalised. Gloria’s objective is “t0 increase market share from 5% to 15% in 3 years” To Expand Product Range 2. 1. Gloria is adding the coffee mugs to her existing products to expand her product range from just desk accessories. Gloria’s objective is: “to increase her product range by adding two new products each year” To Maximise Customer Satisfaction 3. 1. Gloria’s objective is: “to increase customer satisfaction and increase repeat sales by 20% in 3 years” MARKETING DIMENSIONS The Target Market Research collected over the past 12 months indicates that the likely primary target market would be: - Women - Aged 25-55 - Involved in professional jobs - Located in all areas of a city/suburbs - Interested in innovation and creative products - Responsible for purchasing decisions for the business MARKETING DIMENSIONS The Target Market Research collected over the past 12 months indicates that the likely primary target market would be influenced by: - Psychological factors such as customer attitude and personality. A more organised person, and one who was interested in creating a positive image would be more likely to purchase this product. MARKETING DIMENSIONS Competitors Two key competitors have been identified: Kikki K – a high end supplier of home, office and professional stationery and organisation products. Their price points are quite high, they aim for a more ‘luxury market’. This can be a disadvantage as they wont attract someone buying office supplies for a large business. People generally buy their products for themselves or as gifts. Typo – a mid-range supplier of stationery and organisation products. Their price points are mid-range, cheaper than Kikki K but more expensive than Big W or K-Mart. Typo are seen as specifially for a younger market, and again won’t attract people buying lots of things for the office. They are both located in major shopping centres, Australia-wide. THE MARKETING MIX - PRODUCT The products - coffee mugs - are made of the highest quality ceramic material and are stain resistant. They are dishwasher and microwave safe. They come with a life time guarantee against chips and cracks. Your customers will be attracted by the possibility of personalised company branding. THE MARKETING MIX - PRODUCT Our coffee mugs will be sold in one standard size and come with a plastic lid to keep the contents warm. They will come in a range of colours or can be customised with a message/picture of your choice Our coffee mugs are dish-washer and microwave safe The mugs can be purchased on their own or as part of a complete set of desk accessories. Coffee Mugs Marketing Mix – The Product Gloria’s Coffee Mugs will appear in the office supplies aisle in stores such as Officeworks and Target so that customers start to associate our mugs with office equipment and not kitchen ware Gloria’s Mugs Better By Design THE MARKETING MIX - PRICE Our pricing objective is to be low enough to encourage people to try us, but high enough to suggest a quality product. Our pricing approach will be competition based. There is a high degree of competition from businesses selling similar products. Our prices will be as follows: $6.50 for a standard mug $15:00 for a personalised mug $5:00 for a standard mug if purchased as part of a stationery pack THE MARKETING MIX - PLACE To attract customers to our range we will distribute some of our products through a producer to retailer to customer distribution channel. This will allow us to selectively distribute the product effectively. People who are looking for stationery will go to Officeworks, see our range and hopefully want to see more. Once our brand is established in the market we will offer personalised products through non-store retailing, probably online.