Marketing Plan for Monogamy in Singapore

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TABLE OF CONTENTS

I EXECUTIVE SUMMARY2
II COMPANY’S MISSION STATEMENT3
III PRODUCT DESCRIPTION4
IV MARKETING PLAN5
1.0 SITUATIONAL ANALYSIS5
2.0 OBJECTIVES15
3.0 SELECTION AND MEASUREMENT OF TARGET MARKETS16
4.0 STRATEGIC MARKETING MIX29
5.0 IMPLEMENTATIONS AND EVALUATIONS35
V APPENDIX37
VI REFERENCES39

I Executive Summary

We plan to introduce ‘Monogamy’, an adult board game which both enhances a couple understanding of each other, as well as turn up the heat in the bedroom, under the internationally renowned manufacturer of condoms – Durex. As a market leader, the brand enjoys a unique market position and a stellar reputation which lends the image of reliability and excellence to the product that we are launching. This will reduce the initial marketing costs involved.

The current market is still in an infancy stage with the lack of any clearly defined and organized competition. There is also a lack of awareness of about such a product. After the initial market research, we selected the demographic age groups of the twenties and thirties to direct a concentrated marketing plan as they are the easiest to reach and most likely to adopt the game due to a more open mindset.

Adopting a marketing concept, we seek to achieve awareness among the potential market within the implementation period of the marketing plan as well as a modest sales volume target of 14 500 units. Our objective is not to just make sales, but also encourage a more open society.

‘Monogamy’ will be launched at an initial price of $69.90. We have decided to bypass wholesalers in our distribution, and go directly to retailers and consumers. The product will be advertised on selected publications as well as at various physical promotions.

Throughout the twelve month period, we will maintain checks of sales and market analysis at bimonthly intervals. In addition, a survey and observational analysis will be conducted at the end of the implementation period to obtain soft data on the changes in the attitudes and mindsets of our potential market. II Company’s Mission Statement

“Here at Durex, we believe in offering adults around the world the confidence and freedom to enjoy better sex. Challenging tradition, we believe in constantly evolving with times to offer total fulfillment – mentally, emotionally and physically”

III Product Description

The product our company is launching is named Monogamy. It is an adult board game that is designed for couples to have a fun and loving time together. The name of the game has already spoken for the objective of the game in itself. It aids couples in creating the honeymoon period again – to put the spark back into the relationship, enhances understanding of one’s partner and even turn up the heat in the bedroom. Unlike other board games on the market which focus purely or mainly on physical fun and pleasure, the game promises, and delivers, an entertaining and enjoyable time for couples along with increased emotional intimacy

IV Marketing Plan

1.0 Situational Analysis

1.1.0Internal Resources of firm

To succeed in the business world, one has to know oneself as well as one’s competitors. Through a thorough analysis, we have summarized our strengths and weaknesses as follows:

1.1.1Strengths and Weaknesses

Strengths:
1)Strong market position
Durex enjoys a unique position as the key leader and manufacturer in the market for protection. The prestige and hence power of the brand, along with the positive current positioning, places us in the enviable situation of an edge over our competitors in terms of the relative ease of marketing as well as a symbol of reliability and excellence that Durex have come to stand for over the years.

Relative ease of marketing
Durex is a well established company (Registered in 1935). By marketing our products under Durex, we will be able to draw attention and interest to our products with...
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