Dresthi Paliwal

MARKETING PLAN FOR “VIDHATA INDUSTRY” BY TEAM- UNCALLED FOUR SR. NO NAME REGISTRATION NO 1 DRESTHI PALIWAL - 2 SAKSHI AGRAWAL - 3. NILESH KUMAR - 4. FATIMAH MARTIN MURJAWAR - EXECITIVE SUMMARY ➢ We gladly present you our report on marketing plan. We have prepared the report on the marketing plan of Vidhata Industry product Marine Plywood (BWP GRADEIS:710). This report is prepared on the basis of the market research and data provided on the website of Vidhata Industries. Although the main purpose of the report is to describe the whole process of developing and promoting our product in marketing area. We would like to express our gratitude to you for your tiresome effort for us providing the opportunity to complete this project. ➢ The name of our company is “Vidhata Industries”. “Vidhata Industry” is a manufacturing company of plywood. Vidhata industries has revolutionised itself in the past decades from celling cement to steel, plywood and other salient building and construction material. Now it is evolving into plywood industry with its flagship plywood brand i.e., “Interwood”. The plywood comes in premium range with specialised plywood product like Interwood Pro, InterFlexo, Interdoor and InterShutter. We want to market a Plywood “Marine Plywood”. For, this, we have survived marketing and product strategy and create effective plan to promote the product with selling. We have set a reasonable price for the product so that all kinds of people can afford to buy the product. ➢ Our target market included individual from tier- II, tire- III cites, carpenters, interior decorator, builders, project handlers for government and non- government projects and many more. We segmented on the basis of Geographical area, Demographics, Behavioural. ➢ For the marketing and promotion of marine plywood we decided different platform for advertising which are Digital media is our first priority because digital presence of a 1 company is must in today’s digital era. For the same we decided to enhance the website of the company, connecting dealers and consumer directly with the company. The second we focused on social media platform for marketing including Instagram, Facebook and YouTube for running different ad and ad campaigns. YouTube will also be used to promote CSR actives. ➢ The second advertising platform we combined all the traditional platform for pan India approach, which include T.V commercial ad for 30 sec ad, Radio Jingle for 10sec, Newspaper ad, Outdoor hoarding. The costing for the same is also mentioned in the table. ➢ We created a creative which signifies the “MARINE PLYWOOD” concept. 2 ORGANIZATION OBJECTIVES KEY MARKETING CHALLENGE 1. TO PROMOTE NEW PRODUCT ➢ The main purpose of the marketing plan is to promote Marine Plywood (BWP GRADE- IS:710). 2. GROW DIGITAL PRESENCE OF THE COMPANY ➢ Enhancing website content ➢ Flourish on social media platform such as- Instagram, Facebook, LinkedIn, Twitter, YouTube. ➢ To reach out to a mass customer and market segment by creating blogs. ➢ To follow the trends of Digital Marketing. 3. LEAD GENERATION ➢ To focus more on Email Marketing ➢ Improve relationship with customers and Dealers by solving their queries through client relationship management and following the lead. 4. TAREGET NEW CUSTOMERS ➢ By exploring new customer segments in the market ➢ To maintain virtuoso relationship with carpenters, dealers, architect, interior decorator etc. 5. BUILD BRAND AWARNESS AND BRAND LOYALTY ➢ Building brand awareness through different social media platform ➢ Bringing traffic on the websites and blogs ➢ Advertising on traditional and digital platform. ➢ Delivering quality goods and providing priority customer service. 3 6. EXPAND INTO NEW MARKET ➢ Growing more physical stores or shops in different geographical areas of India. ➢ Providing more franchises in different metro cities across India. SPECIFIC OBJECTIVES OF THE PLAN SMART marketing objectives to be followed. ➢ SPECIFIC• The main objective of the marketing plan is to promote the Marine Plywood, to create positive impact on the consumers and to increase the market share of the company. • To grow the digital presence of the company on the web. ➢ MEASURABLE• To achieve the defined goal by analysing through key performance indicators, i.e., to keep a track of all on going marketing activities and to get the insights of the running campaigns. ➢ ACHIEVABLE• To create brand awareness and brand loyalty in the market. • To increase the overall revenue of the company by implementing the new marketing plans with specific goal-oriented strategies. ➢ RELEVANT- 4 • To determine the right mission and vision of the company. • To achieve the relevant result through all the marketing activities and campaigns. ➢ TIME-BOUND • The overall marketing plan can entirely be implemented for a specific period of time example-3 months. SITUATION REVIEW: ❖ INDUSTRY CONDITIONS: Vidhata Industries have always worked in order to fulfil the mission of delivering sustainable value to the customers and stack holders by providing a wide array of products in marine plywood segment with the best-in-class technology delivered by the best-in-class people. The company has been striving to create differential value for the customers through superior product offerings and focusing on the culture of sustainability to foster long haul partner-ship with the stake holders and has been successful in achieving the vision of being the most admired company engaged in providing the consumers a wide array of products. ➢ STRONG GROWTH DRIVERS: • Enormous industry potential with market spread in different cities of India providing the best of services • Organized players gaining market share with clear preference shift for branded products – trend to continue going forward with Vidhata Marine Plywood’s. • Tremendous increase in commercial and residential growth throughout the country. • Growing popularity of marine plywood in other applications like building rooftops and doors in residential spaces is expected to further fuel its demand. • Government Policies like GST implementation to encourage the growth of organised branded products. 5 • Increasing consciousness about the quality amongst the consumers. • Increasing discretionary spends/aspirations resulting in upgrading. • Waterproof plywood is employed in several applications in the construction industry such as flooring, interiors, furniture, wall partition, and ceilings. Rise in demand for interior materials for ceiling flooring and furniture is projected to boost the demand for waterproof plywood during the forecast period. • The waterproof plywood market is driven by the rise in demand for the plywood in the housing market. Demand for waterproof plywood has been increasing due to the rise in application of waterproof plywood in the building & construction industry. Waterproof plywood offers various advantages over conventional wood, metal, and plastic. • Waterproof plywood is used extensively in commercial buildings such as hotels, theatres, and airports. Increase in demand for waterproof plywood in airports, schools, and hotels across the globe is projected to boost the market during the forecast period. ➢ KEY HIGHLIGHTS: • Amongst the premium brands, fulfilling customer expectations. • Seeking Growth in Tier 2 cities for being economical. • Luxury segments in Tier 1 cities preferring the brand in particular and approaching via wide spread dealers throughout the country. • Increasing shift happening from cheap plywood to branded plywood like Vidhata. • Marine plywood performs well in humid and wet conditions. • Resists the bending, warping or delamination which can often result from too much moisture. • Guarantees marine plywood’s durability as well as the structural strength of any construction which makes use of it. • Composed of several face and core veneers, with an effort to reduce the size of any gaps between the sheets. 6 • Ensures no water can become trapped. Sheets are glued together for strength and durability and a coat of water and boil proof (WBP) glue provides additional resistance to moisture. • The utilization of marine plywood in the marine industry for manufacturing stringers, floor, transom, boat cabinetry, walls, seating, etc. Is anticipated. • Additionally, the Looking forward, IMARC Group expects the global marine plywood market to exhibit moderate growth during the next five years. CUSTOMER PERCEPTIONS AND BEHAVIORS COMPETITOR ANALYSIS: ➢ CUSTOMER PERCEPTION: Consumers often prefer plain wood to have plywood instead because of its resistance to cracking, shrinking, breaking, and warping, and because of its generally high durability. There is a shifting trend in consumer choice from non-branded to branded plywood due to the changing technology. But for most customers, it's very difficult to identify the plywood sheet quality just by looking at it. Until purchasing the plywood, one must therefore be aware of the type of plywood that manufacturers sell, the raw materials used, reliability, water proof and other aspects, including the valid ISI mark– a sign of quality trust. On the other hand, on the basis of their needs and expectations, customers want to use a range of different plywood. They expect high-quality content to meet international standards, particularly with different certifications in place. ➢ FACTORS AFFECTING CONSUMER BEHAVIOUR: 1. Socio-economic status of the consumers 2. Level of awareness and preferences of consumers towards marine plywood 3. Association between socio-economic status and awareness and preferences of consumers 4. Preferences of consumers towards marine plywood Most preferred plywood brand by the consumers 7 Strenghts: 1.Increasing faith in consumers 2.Brand imaging building and developing market size 3.Awareness about quality product 4.Good market report. Weaknesses: 1.Budding company 2.Limited reach to customers 3.Developing market plan Swot Opportunities: 1.Post-COVID growth 2.Developing Infrastructure 3.Government schemes like GST Threats: 1.Lockdown 2.Well established Brands IV. STRATEGY The company will follow the 4’P of marketing strategy- 1.PRODUCT➢ The main purpose of the marketing plan is to promote Marine Plywood (BWP GRADE- IS:710). ❖ PRODUCT DISCRIPTION➢ The marine plywood can resist the water at any temperature i.e., cold or warm, climatic variations and power and termite attacks. ➢ The manufacturing involves high pressure impregnation technology. ➢ The plywood has surpassed all kind of quality check i.e., BIS standards for boiling water time test, termite test & bending strength test. ❖ TYPES 8 Thickness: 4mm, 6mm, 9mm, 12mm, 16mm, 18mm, 25mm Sizes: 8x4, 7x4, 6x4, 8x3, 7x3, 6x3 2. PRICEThickness: 4mm, 6mm, 9mm, 12mm, 16mm, 18mm, 25mm Sizes: 8x4, 7x4, 6x4, 8x3, 7x3, 6x3 Price 1049, 1790, 2120, 2660, 3349, 3814, 5700 3. PLACE- ➢ Different physical stores and franchise options ➢ Digital visibility (e-commerce, social media) 4. PROMOTION- 9 ➢ Social media platform ➢ Traditional mode of advertising (Print Media, Radio, Outdoor Hoardings, Point of Sale in Malls and outdoor public places.) ➢ Digital marketing (website, E-commerce, Instagram business, Facebook business, WhatsApp business, YouTube). ❖ THE SERVICES MARKETING MIX- 5. PEOPLE ➢ Here people refer to directly consumers or dealers, it also involves the employees and the subcontractors having direct interaction with the customers. 6.PHYSICAL EVIDENCE- ➢ Stores, showrooms, Exclusive Franchisees. ➢ Demo at malls 7.PROCESS- Manfacturing Distributor wholeseller Retailers Consumer SEGMENTATION CRITERIA TARGETING STRATEGY POSITIONING STRATEGY ➢ SEGMENTATION For the segmentation the following criteria is followed10 • GEOGRAPHY- A. REGION- the plywood industry can be segmented on the basis of region. As there is a lot of changes in the preference of people living in different regions of India. For example, people in south and central India love to have their furniture made up only in wood. This could be one way of segmentation where the preferences of the people in different regions can different. B. CITY- same is the case with the cities, this kind of segmentations is feasible because cities have different population and the income levels of people are different in cities, so they plan the material (plywood) for their furniture accordingly. C. RURAL and semi-rural areas- these are the most adaptable market in the country like India, the high rate on new asset making and renovation can give a wider opportunity for the plywood manufacturing industry. • DEMOGRAPHICS- A. FAMILY SIZE- If the family is a nuclear family the requirement of this family’s house furniture(plywood) would be limited. But in an extended family where all the members in the family live in a single house but separated in the single house, they make furniture for everyone in their rooms. B. OCCUPATION- students or people who change places due to career requirements may be a basic segmenting market. This segment would prefer buying small size and low-cost furniture, durable and lightweight (easy to transport). C. INCOME- when people want to show the class, they segment themselves above all with all the top-quality products and interior on the house. They will 11 spend more on perfection and quality. But the middle-class people will first full fill the basic necessity and then go for the extra work. Furniture is one of the most considerable status symbols in India. ➢ TARGETING • Undifferentiated marketing- there were not many choices in the market and different types of plywood were not available to consumers. • Differentiated marketing strategy- with change in time and changes in the technological era brought different kinds of plywood for different kinds of uses. This can be highly done in targeting the choices of the consumer and the need too to market the best plywood. It is highly advisable to promote it to all the potential customers. Considering the Marine plywood, it can be highly targeted to the people living in humid, or moist environment. ➢ POSITIONING • Vidhata Industries have been successfully in positioning its products well in the market. Vidhata’s main point of parity are its quality and its price as compared to other varieties of plywood industry in the market. With the huge set up of the industry and highly competitive products in the market Vidhata Industries became popular in especially tier-II and Tire-III cities, where consumer prefer simple living and hence had a demand for plywood (for different uses such as furniture making for house, restaurant, offices). The first mover advantage sure has paid off for Vidhata Industries. V. TACTICAL PLAN Pricing Approach Distribution Plan Using the marketing mix elements, the following things can be done- 12 ➢ WEBSITE TO BE CREATEDIn today’s technological world it’s very important to have an attractive website. • Content to be added on the website must include the following i. Creative layout/ user friendly ii. Creative photos of product with relevant information. iii. Small teaser, trailer videos to engage with the visitors iv. Store locator with full information v. Creative website banner ads with offers or product categories vi. Linking website to different social media vii. Providing bot facilities to easily understand the customer query and quick response. viii. Virtual assistance via priority customer care support ➢ ACTIVE IN SOCIAL SITES- (DIGITAL MARKETING) • For Upgrading business, it is necessary for an industry to have social media engagement directly with the potential buyers and to reach out to the wider new generation or niche market. A. INSTAGRAM- i. Instagram is the best platform to engage with the younger and niche customers, Instagram provides Instagram business opportunity for individuals to grow on social media. ii. Basically, on Instagram advertising to be done will be of ads in post, reels, or offers. Starting cost for post ad is Rs.36 to Rs.146/cost per click iii. It will also provide a platform to get in touch with interior decorators or influencers in terms of product promotion. iv. SEO 13 B. FACEBOOK i. Like Instagram Facebook also helps in delivering the right communication platform for any company to create a market value on social media. ii. Facebook advertising include banner ad, post, blogs, videos etc. iii. Facebook page can directly drive traffic on websites. iv. It provides the exact demographic and segmented audience insights. C. YOUTUBE- i. Creating a YouTube channel is very helpful for any corporate apart from advertising one can also show creative videos and uses of a product. ii. it also helps in improve once brand awareness and signifies the extra actives done by the corporate such as CSR activities. iii. YouTube offers different kind of advertising in ad or pop up’s along with scroller band. D. TWITTER i. Twitter being the only social media platform which directly connects the customer complain to the company head. ii. Twitter is having a vast audience and is a potential platform for creating buzz. ➢ APPROACH THE ARCHITECTS As the market is incline, for selling plywood it needs to approach the architect to do the same approaching directly to the local architect is a good idea in order to reach directly to the potential consumer. ➢ APPROACHING CARPENTER’S CONTRACTORS14 Plywood basically used in making of furniture, decoration of stores office chambers, shopping malls etc. the company can sign a contract with the builders who can use their products at the time of construction. The sales executive can specify the details of the product with right pricing and company can get a bulk order opportunity. ➢ APPROACHING INTERIOR DECORATORS & APPROACHING TO ALL BIG PROJECTS The company in order to expand its business in the market may approach the interior decorator on commission basis so that they suggest their clients to use company’s products. they can also get involved in big projects such as government and nongovernment sectors because in all those projects a high number of plywood’s is required. ➢ ONLINE MARKETING Using E-mail marketing is very convenient in order to reach individual customer. Advertising through newsletters giving details about different product categories, offers on single or multiple products etc. VI. TIMELINE & BUDGET (ACCORDING TO ROI) ❖ The following is the advertising budget compromising different kinds of advertising platforms. The entire plan can be run for 3 months campaign. The plan is divided into different advertising segments to reach local and pan India audience. 15 SR.NO. PLATFORM KIND OF AD MODE CARD RATE 1. TELEVISION NORMAL 1.NDTV, 1.POPULAR AND 2.AAJ TAK OPTION Rs L-BAND 2.PREMIUM – OPTION – Rs 290/sec 6000/L-band and a normal for 10 sec, then ad is for 10sec no. and increases of L- then bands/day*no. by of days 5sec. COLORS 1.POPULAR OPTION- RS. 8,000/sec and a normal ad is for 10sec and then increases by 5 sec 2. PREMIUM OPTION – Rs 48,000/L-band for 10 sec, then no. of L-bands/day*no. of days 2. NEWSPAPER NEWSPAPER 1.THE HINDU 1.POPULAR MEDIA – Rs AD 2.DAINIK 1,197/sq. cm which contains PROMOTION JAGRAN 20sq cm for all pages and 240sq cm for front page. 2.PREMIUM MEDIA – Rs 3,72,400/insert, which contain quarter page (400sq cm), half page (825sq cm), full page (1716sq cm). 1.POPULAR MEDIA – Rs 2,519/sq. cm which contains 20sq cm for all pages and 240sq cm for front page. 2.PREMIUM MEDIA – Rs 5,59,800/insert, which contain 16 quarter page (400sq cm), half page (825sq cm), full page (1716sq cm). *NOTE – These prices may vary according to the states which are as follows: 1. Noida – 2,339/insert 2. Kolkata – 359/insert 3. Gurgaon – 1,286/insert 3. HOARDINGS ACCORDING TO OUTDOOR STATES 1. Bangalore – 10*15 ft Rs 40,000/sq ft PROMOTION 2. Mumbai – 15*40 ft Rs 70,000/sq ft 3. Delhi – 20*20 ft Rs 90,000/sq ft 4. Ahmedabad – 12*8 ft Rs 4,800/sq ft 4. 5. EVENTS IN POINT OF OUTDOOR - MALL SALE DIGTIAL VIDEO, INSTAGRAM, INSTAGRAM MARKETING SHORT FACEBOOK, 1.Basic Instagram promotion VIDEO, GOOGLE package – Rs 8,000/month TEASER, ADS, POP-UP ADS, YOUTUBE WEBSITE 2.Advanced promotion Instagram package – Rs 12,000/month LINK+POST 3.Enterprise AD. promotion Instagram package 18,000/month FACEBOOK 17 – Rs 1.Small Business Facebook – Rs 8,000/month 2.Midsize Business Facebook – Rs 15,000/month 3.Ecommerce Business Facebook – Rs 25,000/month GOOGLE ADS 1.Starter PPC package – Rs 50,000/month 2.Standard PPC package – Rs 1,50,000/month 3.Business PPC package – Rs 1,50,000 – 3,00,000/month YOUTUBE 1.Basic YouTube Marketing – Rs 8,000/month 2.Advanced YouTube Marketing – Rs 15,000/month 3.Enterprise YouTube Marketing – 25,000/month 6. RADIO JINGLE Rs 50 – Rs 2,500/10 second which differs from number of listeners and time band at which are ads played. 18 MEASUREMENT & EVALUATION KEY PERFORMANCE INDICATORS BENCHMARKS OF SUCCESS KPI TYPE DESCRIPTION TOOL USED NEW USERS It measures the number Growth EXAMPLE website, With the help of the of visitors who visit the Google Analytics are analysis tool, we can website at any point in the most used tools to see how many new a day. These are the evaluate the users are getting users who are different performance. connected, so that we from “Total Traffic” can because they haven’t into visited the company’s according site before. search result. conversions This KPI will measure Facebook how all the social Instagram from social media Total media campaigns are certain options segment them categories to the and Suppose we run an ad give campaign for 1 week to costing for Rs.1000 running successfully in analyse a particular on Facebook the market and in the ad and how many YouTube, segmented people view or click monitoring geographical reach. on the post. and the can be done with the insight tools which is inbuild in the app. 19 Traditional On more TRP Lead generated We choose Star Plus the ads. as a channel to ad for Advertising/ print/ channels for T.V through Radio views per ad. commercials and commercials, the data outdoor can be put on collected by the ad the busy area on in the agency will give the cites categorised as insight of how many tier-II and tier -III views we are getting cities for the particular time frame. Marketing revenue The overall sales being Google ad’s, Google The overall sales and generated from all the analytics, SEO tools. revenue can be and sales different advertisement estimated on the basis campaigns, of PPC, CPC. commercials and jingles. Marketing ROI The company can Excel and other Marketing evaluate the ROI by accounting software (Gross measuring performance ROI= marketing the or statistical software. revenue - Marketing of Investment) different social media Marketing site Investment 20 / CREATIVE 21