Marketing Plan of

Black Country Metal Works

Presented By 7 Investors Team Leader Raja Kamran Khan 42261 Secretory Amir Butt 41

Contents:
Introduction Beginnings Situational Analysis Consumer Analysis Marketing MIX (4 Ps) Implementation issues Recommendations

Black Country Metal Works

Introduction:
With 25 years of experience in the Metalwork Industry, Black Country Metal Works creates Iron and Metal worked products to customers throughout the UK. Established in 1980s, the business is situated in Aston (Oswestry). The company manufactures a range of iron work that look fantastic and are appropriate for all to enjoy. Product range includes weathervanes, stair rods, lamp posts, lanterns and much more.

The Beginnings
The Black Country is the industrial region to the west of, and separate from, Birmingham in the Midlands of England. It acquired its name during the Industrial Revolution of the mid nineteenth century due to the smoke and smog created by the many thousands of ironworking foundries and forges springing up in the region. The effect of this on the surrounding countryside, was to cover it with dark spoil from the working of shallow and relatively thick (30ft) coal seams. Today the Black Country is made up of most of the four Metropolitan District Council areas of Dudley, Sandwell, Walsall and Wolverhampton.

The industries that flourished at the time included: Coal & coke  Iron & steel  Locks & keys  Nails  Chains  Ships anchors  Glassware  Beer & Stout  Jewellery  Cars and motor bikes ( Star, AJS, Jenson, Stuart,Stevens, Clyno , Sunbeam etc)

Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual organizational objectives.

Situational analysis:
Before developing any given marketing strategy it is important to conduct some form of analysis. This should from an essential part of any business or marketing plan and should be reviewed over time to time to ensure that it is kept current.

1.Product analysis
Product analysis involves looking closely at existing products and identifying how they work, the materials they are made from, the industrial processes used to manufacture them and their key features .it may also involves the designer asking the general public or potential customers what they think of the product. The aim of product analysis is to help the designer develop even better designs and products in the future.

2.Competitive analysis
Competitors analysis in marketing and strategic management is an assessment if the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context through which to identify opportunities and threats. Competitors profiling coalesces all of the relevant sources of competitors analysis into one framework in the support of efficient and effective strategy formulation implementation, monitoring and adjustment.

3.Distribution analysis
The distribution analysis is very important to market any product in this the company analyze the true picture of market and its product. first we set the distribution strategy For product focused companies establishing the most appropriate distribution strategies is a major key to success defined as maximizing sales and profits. Unfortunately many of these companies after fail to establish or maintain the most effective distribution strategies. Problems that we have identified include. Unwillingness to establish different distribution channels for different products. Fear of utilizing multiple channels, especially direct or semi direct sales due to concerns about erosion of distribution loyalty or inter-channel. Failure to periodically re-visit and update distribution strategies. Lack of creativity and resistance to change. Info trends can help our company to improve its distribution strategies by: Mapping your product to the end user Determining customers channel preferences and comparing these preferences with actual availability Recommending new channels Examining competitors; strategies and comparing them and their effectiveness with own Confidential interviews with your distribution partners to identify areas for improvement, as well as existing strengths to be encouraged your own

4.Environmental analysis
There are many factors in the macro environment that will effect the decisions of the managers of any organization. Tax changes , new law, trade barriers, demographic change and government policy changes are all example of macro change. To help analyses these factors managers can categories them using the environmental analysis. This classification distinguishes between:

 a.  b.  c.  d.  e.  f.

Demographic Economic Natural Technological Political Cultural

5.Opportunity and issue analysis

This section of the marketing plan analyzes the major external opportunities and threats to the company and the internal strengths and weaknesses of the company along with discussion of the key issues facing the company. External opportunities and threats to the company should be described with possible programs to capitalize on opportunities, and possible solutions to potential threats to the company. Internal strengths and weaknesses of the company should be describe ding a competitive context. Key issues addresses decisions to be made by the company, based upon the analysis of these external opportunities and threats and internal company strengths and weaknesses, and helps to determine objectives, strategies and tactics.

Consumer Analysis
Consumer analysis allows identifying prospect and segment market. Consumer analysis allows is an important part of marketing research. Without marketing research it is quite impossible today to start any business. Consumer analysis is the first step of a marketing research.

Consumer market
All individuals and households who buy or acquire goods and services for personal consumption are trends as Consumers.  a. Defining consumer markets  b. Consumer behavior  c. Marketing application i. Positioning ii. Segmentation iii. Market development

Consumer buying behavior

Consumers make buying decisions every day. Most large companies research consumers buying decisions in great detail to answer questions about what consumers buy, where they buy and so on. Consumer behavior is influenced by the buyers characteristics and by the buyers decision process. Buyer characteristics include four major factors. We can say that following factors can influences the buying decision of the buyer.  d. Cultural behaviour  e. Social behaviour  f. Personal behaviour  g. Psychological behaviour

Types buying behavior

Every buyer have his/her own behavior of buying there are following types of buying behavior of buyers.  h. Complex buying behavior  i. Dissonance-Reducing buying behavior  j. Habitual buying behavior  k. Variety-seeking buying behavior  l. Post purchase behavior

Target audience
When a company begins to brainstorm marketing strategies for a new product service, they first take time to consider who will get the most benefit from what they are offering. For example an ad for a toy meant for toddlers might be created with parents in mind. A toy for eight to ten year old children, however, would have commercials meant to get the kids in age group interested in the product. The demographic, or group of people that an ad campaign is trying to sell to is called the target audience. By designing a target audience before beginning to market product it is easier to create relevant a advertisements. Target audiences are considered when developing new products. Companies brainstorm what those specific consumers could use their lives easier, and then they try to develope that product.

Marketing objective
If you have multiple objectives, make sure they are consistent and not in conflict with each others. Also, be sure that the reminder of your marketing plan components the marketing strategy, budget, action programs, controls and measures- support your marketing objectives. Setting marketing objectives and finalizing the remaining components of marketing plan may set be as reality check. The marketing strategy section of plan outline plan to achieve marketing objectives. It is essentially, the heart of the marketing plan. The marketing strategy section should include information about:  Product- your product and services  Price- what you will charge customers for products and services  Promotion how you will promote or create awareness of your product in the marketplace  Place (distribution) how u will bring your product together with your customers.

Marketing MIX
Marketing is a process that revolves around the customer and in order to meet the requirements of the customer marketers formulate and design the marketing mix that is also known as 4Ps.the marketing mix variables are  Product  Price  Promotion  Place(distribution)  Product: the 1st P of Marketing MIX As the first of four marketing mix variables, it is often where strategic planning begins. A product is anything that can be offered to a market for attention. Acquisition, use Or consumption and might satisfy a want or need. Product is a complex concept that be carefully defined. Product strategy calls for marketing coordinated decision on individual products, product lines and the product mix.

Price

Marketing
Product Place

MIX

Promotion

Levels of product and services

 a.  b.  c.  d.  e.  f.

The core product The actual product The augmented product Consumer product Industrial product Organizations persons, places and ideas

Product classification

Product attributes
 g. Product quality  h. Product features  i. Product style and design Branding Packaging Labeling Product support services

Price : the 2nd P of Marketing MIX

All profit and nonprofit organization must set prices on their products and services. Price goes by many names (rent, tuition, fee, fare, rate, interest, toll etc). Price is the amount of money charged for a product or service. Historically, price has been the major factor effecting buyer choice. Thought history prices were set by negotiation between buyers and seller. There are two types of prices  Fixed price- setting one price for all buyers  Dynamic price- charging different prices depending on the individual customers and situations

Factors to consider when setting prices

A companys pricing decisions are effected by both internal company and external environmental factors.

Internal factors
 a.  b.  c.      e. f. g.

Marketing objectives Costs Organization considerations

External factors
d. The market and demand i. Pricing in different types of markets ii. Consumer perceptions of price and value iii. Analyzing the price-demand relationship iv. Price elasticity of demand Competitions Costs, Price and Offers Price- Adjustment Strategies Price changes

Place the

rd 3

P of Marketing MIX

Marketing channel decisions are among the most important facing marketing managers. A companys channel decisions are linked with each other marketing decision. Companies often pay too little attention to their distribution channels. This can be very damaging. Distribution channel decision often involves long-term commitments to other firms. There are four major issues or questions that concern distribution channels: 1.What is the nature of distribution channels? 2.How do channel firms interact and organize to do the work of the channel? 3.How problems do companies face in designing and managing their channels? 4.What role does physical distribution play in attracting and satisfying customers?

 Marketing channel  Why are marketing intermediaries used?  Distribution channel levels  Channel behavior and organization  Vertical marketing system  Hybrid marketing system  Channel management decisions  Intensive distribution  Exclusive distribution  Selective distribution center

Promotions the P of Marketing MIX Promotion is one of the four elements of

marketing mix. It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyers purchasing decision.

th 4

The following are two types of promotion: Above the line promotion:
Promotion in mass media like TV, Radio, Newspaper, Internet, Mobile phones in which the advertiser pays an advertising agency to place the advertisement.

Bellow the line promotion:

All other promotion. Much of this is intended to be subtle enough for the consumer to be unaware the promotion is taking place for example sponsorship, product placement, testimonials, sales promotion, merchandising, direct mail etc.

The specification of five elements creates a promotional mix or promotional plan. Theses elements are
 Personal selling  Advertising  Sales promotion  Direct marketing  Publicity

A promotional mix specifies how much attention to pay to each of the five subcategories and how much to budget for each. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. Fundamentally, however there are three basic objectives of promotion.

To present information to consumers as well as others  To increase demand  To differentiate a product There are different ways to promote a product in different areas of media. Promoters use internet advertisement, special events, endorsements and newspapers to advertise their product. Many times with the purchase of a product there is an incentive like discounts, free items, or a contest.

The term promotion is usually an in expression used internally by the marketing company, but not normally to the public or the market- phrases like special offer are more common. An example of a fully integrated long-term, large-scale promotion is My Coke Rewards and Pepsi stuff. The UK version of My Coke Rewards is Coke is Coke Zone.

Implementation issues / plan

Implementation involves taking action guided by the strategic plan. if you dint not select specific policies programs and practices during the planning step you will do that during this step . in addition you will create an evaluation plan to collect process measure data and the ingoing monitoring of implementation fidelity.

Setting total promotion budget

promotional budget can be prepared by allocating a certain amount of expected sales to promotion activities or by planning certain promotion activities and allocating expenses for them,. A promotion budget should be developed of the year. for the exiting business, a good place to start is using the past year's expenses. Additional promotional costs can then be included based on any new promotional strategies that are to be implemented in the upcoming year. Historically firms have indicated speeding around 5 year present of annual gross revenues on promotional activities. So a business projecting to generate 100,00 in gross revenues may plan to invest 5,000 in promotional activities. An example of a promotional budget prepared as a 5 presented of expected revenue is presented in following table. This method seems work well for exiting businesses with good information on expected sales.

Promotional Budget as a Percent of Estimated Sales Expected Gross Revenue

Percent of Gross Revenue for Promotion TOTAL Pound ALLOCATED TO PROMOTION Promotional Activities Newspaper Advertisements Brochures Sampling Sponsorships Trade Show Displays TOTAL PROMOTIONAL EXPENDITURES/BALANCE
Cost 1,500 500 1,000 300 800 1,100 100,000 5% 5,000 Balance 3,500 2,500 1,500 900 100 8,500

Product implementation strategy

An organization is successful when its products implemented successfully in market. So an Organization successful at strategy implementation when it effectively manage its implementation issues. Six key supporting factors. 1. Action planning 2. Organization structure 3. Human Resources 4. The Annual Business plan 5. Monitoring and control 6. linkage

Advertising
Advertising is a form of communication intended to persuade an audience to purchase or take some action upon products ideas or services. it includes the name of a products or service and how that product or services could benefit the consumer to persuade a target market to consumer that particular brand. Advertisings can also serve to communicate an idea to a large number of people in an attempt to convince them to take a certain action.

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