Document Title: Marketing plan-Samona Products Ltd

Paper code: 13038

Marketing plan; Samona Herbal Jerry-Samona Products Ltd

EXECUTIVE SUMMARY 

Samona Herbal Jerry is produced under Samona Products Ltd which is nowadays planning to expand in new market. This paper is formulated to design an initial marketing plan for the company. It involves the diverse marketing element to assist the management of the company in marketing. It defines the key objectives of the company in relation to the expansion plan, which the marketers want to achieve.

In addition to this, it assesses the market environment to describe the internal and external factors which influence the organization and servicing of identified market. The most suitable market is identified to launch the product there and earn maximum profits. Along with this, marketing objectives and marketing strategies are also describes to formulate a best marketing mix in order to achieve marketing objectives. An action plan is designed to show the way through which marketing plan can be executed. In addition to this, a marketing budget is prepared which is favorable to the company's resource base and demand of the market. This paper also addresses the critical issues for the company which it needs to take in to the consideration.

MARKETING PLAN

Business overview

The Samona Herbal Jerry has managed to build a solid trust with their customers through their service and product quality in a rather short period of time. This has enabled them to develop their own brand of products. They have also acquired rights to one brand, a product family of Samona Herbal Jerry packed in different sizes which the Samona Herbal Jerry supplies these particular products in the Ugandan market.

Competitors in the industry have been offering similar types of products made from the same material before the product launch.

The PESTEL Analysis is used as a marketing tool for examining key macro level factors in the business environment that may have an impact on the business and its activities.

The aim of this analysis is to understand the overall picture of the current external factors affecting the business, after which to identify the factors that may potentially change in the future and to take advantage of that information better than any competitor would.

Political factors

The political factors may affect the company’s ways to do business because they must be able to adapt to the current and anticipated changes in legislation, and such as adjust their marketing practices accordingly.

The freedom of trade enables the marketers to supply products from abroad with ease disregarding longer delivery times during stock shortage and market them to the Ugandan market just as they would with their own products.

Some of the Samona Products Ltd’s competitors in the industry are family businesses and could experience a knock to their public image for moving way from Uganda or other difficulties in doing business with Ugandan customers i.e. wholesalers if the government decides to create some bureaucratic barriers for such businesses, but there can also be incentives to discourage them from registering in another country in the first place.

Economic factors

Factors explaining in what ways the economy affect profitability and doing business. During the marketing activities, the marketers will consider economic factors such as a country’s economic growth, interest and exchange rates, inflation and disposable income of consumers and businesses which might affect profitability in any industry. Government’s interest rate control, taxation policy and expenditure actions are examples of mechanisms that affect management of demand in any economy on macro level.

Socio-cultural factors

Analyzing how the shared attitudes of the population affect marketers and how they understand customers and what drives them. Cultural characteristics as in career attitudes etc. are variables of particular interest from a marketing perspective.

According to a recent study, the majority of Ugandan people are content with Ugandan cosmetics saying it is of rather good quality. Therefore having domestic production companies as customers using the Samona Products Ltd’s products can be seen as somewhat of an assurance of quality from the Samona Products Ltd position. The research also brought up that despite the satisfaction for the quality there is room for improvement in the production process and the degree of responsibility takes from their action. This matter calls for easily durable good quality components those the company has to offer from the supplier for the constructor to vouch for.

Technological factors

There are three distinct ways technological factors affect a company’s marketing management; new means of producing goods and services, new ways of distributing goods and services and also new media of communicating with target markets.

The development of technology has enabled more features be fit into smaller spaces. New compact products replace old ones by serving the same purpose and innovations concerning products limited to certain size are basically structural.

Environmental factors

Factors raised to significant importance not earlier than the beginning of this millennium urge forward ethical and sustainable sourcing and distribution chains. Aside the growing demand from consumers that Samona herbal jerry should be produced ethically and promote sustainability facing global scarcity of raw materials, carbon footprint and pollution targets set by governments are issues businesses and marketers must consider with this factor.

Legal factors

In order to trade successfully companies need to be aware of what is legal and what is not. Advertising standards, consumer rights and laws, product labeling and safety are included in the legal factors and they must be always considered individually according to the rules and regulations of the country where the customer operates in.

Keeping in mind that Uganda is a market with high technological infrastructure, it is possible for competitors to copy the design in such way that enough changes are made to elude infringement accusations and produce a product made in Uganda with similar technology with lower transportation and warehousing costs.