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19 views

Section 1

Uploaded by

exvelonrblx
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SECTION 1: MARKETING PLAN

Description of the Product

The Bamboo Lamp is a handmade, eco-friendly, and cost-effective product made from
only natural and organic materials. It features a safe push-button switch to turn it on and off,
making it an ideal choice for decorating homes, cafes, hotels, and studios. The lamp is made
from premium bamboo, which can withstand very high temperatures, allowing it to be used for
an extended period without affecting its quality. This unique product is designed to provide a
stylish and sustainable lighting option for individuals who value the environment and want to
make a positive impact.

Comparison of the Product with Its Competitors

Bamboo lamps are high-quality, eco-friendly, and more affordable than any other lamp.
They are known for their durability and sustainability, making them a perfect choice for those
who are looking for a stylish and environmentally friendly lighting option. Unlike other lamps
that may be made from synthetic materials, our Bamboo Lamp is made from natural materials
that are biodegradable and non-toxic. Additionally, our lamp has a unique design that sets it apart
from its competitors, making it a standout product in the market.

Location

The business will be located near the municipal hall of Cauayan City, Isabela. We will
have signage on the street as well as over the entrance to attract customers. The location is
strategically chosen to maximize visibility and accessibility, making it easy for customers to find
and visit our store.

Market Area

Grass Illuminated Company will offer its products in an area where there is a growing
demand for sustainable and eco-friendly products. Furthermore, our target location is where
bamboo is abundant and can be sustainably sourced. The geographic area covered is mainly
located at Cauayan City, Isabela, which is known as a large plantation of bamboo.

Main Customers

The product will be open to all buyers, but our main customers are students. One of the
main reasons why students are our target market is because the product is not only eco-friendly
but also budget-friendly. Students are often on a tight budget and are looking for affordable and
sustainable products that fit their lifestyle. Additionally, our customers for our Bamboo Lamp are
individuals who value sustainability and want to support companies that prioritize sustainability.
Total Demand

The expected total amount for the introduction of the product is around 50-75% since the
product is newly crafted, and it is expected to increase for the following selling time. This is due
to the growing demand for sustainable products and the unique features of our Bamboo Lamp.

Market Share

The business could aim to capture at least 5-10% of the market share within its target
audience. This will be achieved by creating a strong brand presence through social media
marketing, advertising, and commercial promotions.

Selling Price

Our product's standard model costs Php 455. The lamp's simpler versions will be half the
price at Php 227.5; and by a quarter, at Php 115. The discretion of the buyer will also play into
the product's appraisal. As a new start-up business, we can currently control the employee's cost
by hiring members who will work for a low wage.

Sales Forecast

For the first month, the expected product to be sold will be around 10-15 products. On the
following months, sales are expected to increase as we build brand awareness and reputation.

Promotional Measures

Our product, Grass Lighting, will be posted on our social media accounts to promote our
product in a more relaxed environment, such as Facebook, Twitter, Instagram, and other social
media platforms. This will demonstrate that our company is in touch with people on a more
personal level, which can help bridge the gap between the company and the buyer. We will also
utilize online advertisements and commercials to reach a larger target market, raise awareness,
create interest, inform consumers about the details of our product, and persuade them that our
company's product is the best. Additionally, we will distribute fliers online, which are a simple
and cost-effective way for us to advertise our product to all interested customers.

Marketing Strategy

Grass Illuminated Company will identify its target market and utilize social media
marketing. Advertising and commercial will be employed to boost the promotion of the product.
And this will all be uploaded online to reach more prospective buyers. While some employees
will spread fliers within the vicinity of Cauayan City to share information about our Grass
Lighting to all people who are interested in it. The entrepreneurs will also encourage sales by
offering discounts for first-time buyers.
If the popularity of the company declines as a result of decreased demand in the future,
we will adopt "OPLAN: Revamp The Light." This anticipation will dwell on gaining the
propensity of our target market through surveys and interviews. It intends to uncover the
premises of our respondents for them to buy our product.

If our company's expenses rise because of the store's rent, we turn to resellers and stalls.
We will adopt "OPLAN: Spread The Light." The purpose of this method is to familiarize each
citizen with Grass Lighting, a reliable and attainable product.

Marketing Budget

The manufacturers will use 15-20% of the monthly sales for the next month's budget.
This will allow us to invest in marketing efforts that drive sales and revenue growth.

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