Marketing Plan Nemo Fish Tank Filters

Topics: Marketing, Water, Strategic management Pages: 9 (1226 words) Published: April 14, 2015
MARKETING PLAN

FISH TANK FILTERS

1

SL.NO.
1.

DESCRIPTION
Executive Summary

PAGE NUMBER
3

Marketing Environment
Porter’s Five Force Model SWOT
Analysis

4
5

3.

Estimation of Demand

6

4.

Segmentation
Targeting
Positioning: Product Feature Comparison, Points
of Parity and Points of Difference, Perceptual
Map

6
6
7

5.

Distribution Channel and Physical Distribution

9

6.

Promotional Mix

9

7.

Learning from this Project

9

2.

2

EXECUTIVE SUMMARY
Nemo Fish Tank Filters manufactures and sells four types of fish tank filters: biological, mechanical, fresh water and sea water. Nemo sells its products directly through retailers and its span of coverage is limited to the pet stores in Udupi and Manipal. Nemo prides itself on its economy and durability of offering in comparison to its competitors. All its filters are priced at Rs.330, a price range which falls in between its two strongest competitors.

The target market for this product is mainly newlyweds or households with children. Nemo plans to sell its filters to this segment as fresh purchases or re-purchases, either when purchasing fish to re-fill a tank or as renewal after the product life cycle.

MARKETING ENVIRONMENT
3

PORTER’S FIVE FORCE MODEL
The competitive environment for the fish tank filter industry can be assessed using Porter’s Five Force Model. This model helps in ascertaining the attractiveness and level of competition of the industry as a whole.

Threat of New Entrants
•Threat is low
•Low involvement product in low margin segment of Rs. 300 - Rs. 500 does not significantly attract marketers

Threat of Substitutes
•Very high
•New age electronic filters are entering the market, which are expected to gain popularity fast

Existing Rivalry
•High
•Due to import of cheap Chinese products

Bargaining Power of Suppliers
•Low
•Raw Material requirements are simple and easily available

Bargaining Power of Buyers
•Moderate
•Few but similar products with similar pricing available

SWOT ANALYSIS
The competitive position of the company as an individual player in the market can be assessed through the SWOT Analysis.
4

Strengths
> High economy
> High relative
durability

Opportunities

Weaknesses
> Low brand
awareness
> Limited market reach
due to small capacity
of filter

Threats

> Absence of strong
players in this segment

> Low cost Chinese
substitutes

> Growing trend of
keeping fish as pets

> Electronic
alternatives

ESTIMATION OF DEMAND
Description

Figures

Number of households in Udupi Taluk

104608

Number of households that own fish tanks (approximately 8%)

8368

Product awareness (33% x 104608)

34520
5

Purchase intent (28% of 8368)

2343

Estimated market penetration (43%)

1007

SEGMENTATION
Aesthetic Buyers
Educational institutions, hospitals/clinics,
corporate offices
litres

Generally purchase tanks of capacity >>> 50

Households
Middle class families with children, newly
wedded couples, retirees
Generally purchase tanks of capacity < 50
litres

TARGETING
Our choice of target segment is limited by the capacity of our filters (30 litres – 50 litres). Since the household segment is most likely to purchase small or medium sized tanks, they will look for filters that accordingly match this capacity. Our filter has been designed to fit the range of 30 – 50 litres, therefore, our main target segment is the household segment. In addition, this segment has great promise as the number of households and average household income is steadily growing. This segment is also relatively easy to access as they usually frequent pet stores to purchase fish tanks.

By concentrating on a single segment, we will be able to focus all our resources and commitment to maximizing the returns from this segment. This will allow us to develop a deep understanding of the customer’s needs and achieve a...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about MARKETING PLAN
  • Essay on Marketing Plan
  • marketing plan Essay
  • Marketing Plan Essay
  • marketing plan Essay
  • Marketing plan Essay
  • Marketing Plan Essay
  • Marketing Plan Essay

Become a StudyMode Member

Sign Up - It's Free