King Louis Flowers & Plants, Inc. is a company which grows, supplies, and sells different flowers and plants around the country. The company is considered the market leader in the industry with 60 to 70 percent of the market share because of it being a large supplier all over the Philippines and are the biggest producers of cut flowers; though in the retail business, because of the competitors, King Louis owns only 20 percent of the market shares.
To start the marketing plan, its current primary markets, wholesale flower shops, retail flowers shops, institutions, provincial flower shops, and those for flowering pot plants, as well as its secondary market, event planners, will be expanded through the different opportunities found for the brand. These opportunities are to get in the online marketing industry for people who may place a customized order online and have it arranged by King Louis, and to take part in exclusive tie-ups not just with event companies/planners but also in hospitals, hotels, and funeral chapels. With these, the company will be able to increase their sales and profit as well as its brand loyalty from consumers integrated with an increased awareness of the brand. Though there may be weaknesses and threats to the brand, these can be managed once the strengths such as Baguio’s cool weather producing beautifully bloomed flowers, large flower farms in places strategically located, and the company’s imported flowers are penetrated into the market. The company’s current marketing strategies such as to make the best use of and meet the market demand for each product though keeping close attention to market trends and absorptive capacity for each as well as tailoring the production volume to its estimated demand, word of mouth, and publicity through media will be kept for the new marketing plan and will be added by subtle advertising, PR, and sales promotions and campaigns.
The goal of the company is to become the market leader in the Philippines in both the retail and wholesale industry. The objectives, on the other hand, are grouped according to the length of time before it is aimed to be realized—short-term, medium-term and long-term. As a short-term objective, the company wishes to increase the people’s awareness of the brand and be posed as a threat to its competitors. In 2-3 years, the objective of the company is to gain at least 25% of the market share through online marketing. And by 4-5 years, King Louis Flowers and Plants, Inc. shall have majority of the market share in the Philippines.
The Marketing Mix Strategies and Programs is divided into five sections: Market Targeting, Product Development/Innovation Program, Pricing Program, Sales and Distribution Program and Marketing Communication Program. From targeting males and females from the cocio-economic classes A, B, and C1, the new target market of the company will be narrowed down and specified into males from the socioeconomic class AB whose age range from 25 to 35 years old. The target market is primarily where the rest of the strategies revolve from. The flowers from King Louis Flowers and Plants, Inc. are said to be distinct from other flower companies in that the flowers are grown in a cold conditioned farm which is located in Baguio. Because of this, the flowers have a significant bloom and truly possess rich colors. The pricing of the flowers may be on a per-stem, per-dozen basis or quantity of purchases basis. Sales and Distribution of the flowers are inclined with how the flowers were grown which, as indicated earlier, is in a cold condition. Thus, air-conditioned vans are used for the distribution of the flower products. Lastly, the Marketing Communication Program primarily aims to increase the target market’s awareness of the brand as well as keep the current customers loyal to the brand.
II. CURRENT MARKETING SITUATION ANALYSIS
A. Industry Study
King Louis flowers cater to all sorts of...