Marketing Plan for Monogamy in Singapore
TABLE OF CONTENTS
I EXECUTIVE SUMMARY 2
II COMPANY’S MISSION STATEMENT 3
III PRODUCT DESCRIPTION 4
IV MARKETING PLAN 5
1.0 SITUATIONAL ANALYSIS 5
2.0 OBJECTIVES 15
3.0 SELECTION AND MEASUREMENT OF TARGET MARKETS 16
4.0 STRATEGIC MARKETING MIX 29
5.0 IMPLEMENTATIONS AND EVALUATIONS 35
V APPENDIX 37
VI REFERENCES 39
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
I EXECUTIVE SUMMARY 2
II COMPANY’S MISSION STATEMENT 3
III PRODUCT DESCRIPTION 4
IV MARKETING PLAN 5
1.0 SITUATIONAL ANALYSIS 5
2.0 OBJECTIVES 15
3.0 SELECTION AND MEASUREMENT OF TARGET MARKETS 16
4.0 STRATEGIC MARKETING MIX 29
5.0 IMPLEMENTATIONS AND EVALUATIONS 35
V APPENDIX 37
VI REFERENCES 39
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
References: <http://www.singstat.gov.sg/pubn/popn.html> viewed 4th Oct 2007 <http://www.outsource2india.com/kpo/perceptual-mapping.asp> viewed 4th Oct 2007 <http://www.singstat.gov.sg/stats/themes/people/marriages.pdf> viewed 18th Sep 2007 <http://www.singstat.gov.sg/pubn/popn/smd2006.pdf> viewed 10th Sep 2007 <http://www.singstat.gov.sg/pubn/reference/sif2007.pdf> viewed 06th Sep 2007