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TERM PAPER

OF
PRODUCT AND
BRAND
MANAGEMENT
TOPIC- MARKET
PLAN(REYNOLDS PENCILS)

SUBMITTED TO --Mrs.Anju Saini Submitted BY –


Lect,LSB,LPU. RIMPI
MEHTA
Roll no R1811 A01
Sec- 1811
MBAIIIrd(SEM)
Regd.No.10812432
INDEX

1. Acknowledgement
2. Executive Summary
3. Introduction to the market
4. Definition to the marketing plan
5. Impact of Environmental factors
6. Marketing Plan for pencils
7. Category analysis
8. Current market suitation
9. Competitor analysis
10.Customer analysis
11. Marketing strategy
12.product development process
13. Three levels of product.
14.Brand name, Brand equity, Brand image
15.segementation, targeting, positioning
16.Product differentiation
17.Product packaging, pricing
18.Factors affecting buying behaviour
19.Process of consumer buying behaviour
20. Marketing communication process
21. Financial analysis
22. Monitor and control
23. Conclusion
24. Print Advertisement of Pencils
25. Biblography
ACKNOWLEDGEMENT

I am grateful to thank our Campus Head for giving me this great


opportunity to do my project.

I also extent my thanks to Mrs. Anju Saini faculty guide who has
given me moral support to do my project work. It also extend my
thankfulness to my beloved parents and friends for their
continuous encouragement at every moment

It is my privilege to express my profound in debtness, my deep


sense of gratitude to my facility guide who trusts in me and
assigning me such an important and interesting project and also for
sparing time from his schedule to discuss and clarity issues related
to this project
EXECUTIVE SUMMARY
A marketing plan is a written document that contains the guidelines for
the business centres and allocation over the planning period. This is
the project is made on the basis for the marketing plan for the pencils.
In this project our company is i.e, of Reynolds are introducing their new
pencils product. The name of the pencils are the ‘Reynolds pencils’.

If our company is to make a new pencils and and have to sell it in the
market we have to firstly made a market plan for it.That means we have
to analyse the current market suitation i.e we to analse the impact of the
micro environment, macro environment. We have to analyse the needs
of the consumers and then do segmentation ,target and positoned the
market. We have to do sureys for knowing the needs of the peoples.
The more concise a marketing plan is the better it will serve you.
This guide to writing a strategic marketing plan that meets the specific
requirements of your business will take you through the development
process step-by-step with easy to follow planning sheets to lead you
through each stage. Than we have to choose different modes of
communication for the sale ,promotion of our product. The format
includes a fully developed sample plan and is designed to meet the needs
of most types of businesses although the emphasis on different aspects of
the plan will vary from one business type to another.

MARKET PLANNING FOR THE PENCILS(REYNOLDS


PENCILS)
INTRODUCTION

MARKETING- Marketing deals with the identifying and meeting


human needs. One of the shortest definition of marketing is meeting
needs profitability organization .Marketing is a an organizational
function and a set of process for creating and communicating and
delivering values to to the customers and for managing customers
relationship in ways that benefits the organization and its stake holders.

MARKETING MANAGEMENT- Marketing management is the


art and science of choosing targets market and getting and keeping
customers through creating,communicating,delivering superior
customers values. So marketing is a societical purpose of selling and
buying goods and services between the society and provides better
services to the customers.
So we can say that marketing is needed in every aspect of
life.marketing is the exchange of transaction between the two parties. A
transaction is a trade of values between two and more parties.E.g- A
gives X to B, and receive Y in return .
Transaction involves several dimensions at least two things of value
agreed upon conditions a time of aggrement and aplace of aggrement.A
legal system supports and enforce compliance on the part of the
transactors.

MARKET- Traditionally, a market was a physical place where buyers


and sellers gathers to buy and sell goods.Economist describes a market
as a collection of buyers and sellers who transact over a particular
Product or product class. Manufactures go to resource market buy
resources and turn them into good and services.

MARKET PLANNING- It is well and good to include marketing


your business and a lot a few hour a day to do marketing tasks.But if we
donot organize our market plan our efforts won/t get nearly as far as
putting .Marketing plan in writing gives you to a guide to work from ,it
provides agoal to strive for an d it organize all those creative ideas you
have floating around your brain.
Firms that are successful in marketing invariably starts with marketing
plan . Marketing plan is not made without involving many peoples into
it.No matter what you get foodback from all parts of yourcompany
finance,personnel supply and so on in addition to markets itself.
This will important because it take all aspects of your company to make
your marketing plan. Your key people can provides realisitic impact on
what’s achievable and how achievableand how your goals can be
reducedand what they can sharen insights.

From all the things we can concluded that market plan is very necessary
for the successful running of any business operation and to achieve
various goals of the business operations in a right manner and in right
way.

DEFINITION OF MARKETING PLAN- ‘A marketing plan is a


written document containing the guidelines for the business centres
marketing programs and allocation over the planning period’

THE IMPACT OF ENVIRONMENTAL FACTORS

The market environment surroundings and impacts upon their


organization. There are three keys perspectives on the marketing
environment. ,namely the micro environment and macro environment

MICRO ENVIRONMENT- This environment influences the


oganisation directly .It includes suppliers that deals directly indirectly
consumers and customers and other local stake holders.Microtend to
suggest the small but this can be misleading.In context, micro describes
the relationship between firmsd irectly or indirectly, consumers and
customers, and other local stakeholders. This includes all factors that
can influence and organization, but that are out of their direct control.
A company does not generally influence any laws (although it is
accepted that they could lobby or be part of a trade organization). It is
continuously changing, and the company needs to be flexible to adapt.
There may be aggressive competition and rivalry in a market.
Globalization means that there is always the threat of substitute
products and new entrants. The wider environment is also ever
changing, and the marketer needs to compensate for changes in culture,
politics, economics and technology.The internal environment.All factors
that are internal to the organization are known as the 'internal
environment'. They are generally audited by applying the 'Five Ms'
which are Men, Money, Machinery, Materials and Markets. The
internal environment is as important for managing change as the
external. As marketers we call the process of managing internal
changinternal marketing.Essentially we use marketing approaches to
aid communication and change management

MACRO ENVIRONMENT- Macro environment includes all the


external factors that effect our product .The macro environment are
also includes the factors like technology,political,geographical,
ecologicaland sociocultural factors that has a impact on the
manufacturing of the product.
In the manufacturing of pencils we have to keep in the mindthe
sociological environment, the society has been changed due to this the
needs ,demands of the customers are also changed. Different kinds of
pencils are made according to the need and standards of the peoples.
Now high class people wants pencils which are of high quality and
provides better services. The middle class peoples wants a pencils that
are of low price and is not very expensive.So manufacture made the
pencils in keeping all these things in mind. The pencil made is according
to the new technology.
MARKET PLAN FOR PENCILS

If our company is to make a new pencils and and have to sell it in the
market we have to firstly made a market plan for it.That means we have
to analyse the current market suitation i.e we to analse the impact of the
micro environment,micro environment.We have to analyse the needs of
the consumers and then do segmentation,target and positoned the
market. We have to do sureys for knowing the needs of the peoples.
The more concise a marketing plan is the better it will serve you.
This guide to writing a strategic marketing plan that meets the specific
requirements of your business will take you through the development
process step-by-step with easy to follow planning sheets to lead you
through each stage. Than we have to choose different modes of
communication for the sale ,promotionof our product. The format
includes a fully developed sample plan and is designed to meet the needs
of most types of businesses although the emphasis on different aspects of
the plan will vary from one business type to another.

PROCESS OF MARKET PLAN

SUITATION ANALYSIS

CATEGORY ANALYSIS—The product of our company is the


pencils. Our company is introducing a new product of Reynolds
pencils with new unique features, and size. Our company is
providing better and unique features to our customers. The
competitors of our company are the other pencils stores like,
HB, pencils, Apsara pencils.
MARKET SURVEY/ CURRENT MARKET SITUATIONS-- Market
survey is the first step in the market planning .Our company
firstly do the market survey for knowing the need current market
suitation . For making our pencils we have to analyse what are
the different kinds or types of pencils which are present in the
current time in the market. We know about the different kinds of
features of the pencils,their prices by doing the market survey.
We also find the current needs of the market.

NEEDS, WANTS AND DEMANDS OF THE CUSTOMERS

The market plan will be started before the manufacturing of


the particular product.If we have to make any kind of pencils products,
we have to analyse the needs, demands and wants of the customers.
Needs are the basic human requirements. Needs are than made wants.
Demands are the wants for specific products backed by the ability to
pay. We start our market plan by analysing that whether there is a
need, want among the customers for the pencils we decide to make. We
do survey ,markeyresearch for knowing te needs of the customers .We e
fromhave to visit to the schools, and may know the needs of the children
byPutting them questions and having their suggestions that what kind
of pencils they want for writing ,and knowing from them that what are
the difficulties they get fro their previous pencils while writing.We have
to different types of peoples which are using pencils to know their
needs.We get information After collecting all the information we have
to get a result for knowing the needs demands of the customers and get
ready for making pencils according to the needs wants and demands of
the customers.

COMPETITOR ANALYSIS----The analysis of the competitor is very


important aspect because through it we come to now that who are our
competitor . The main competitor of our pencils are the other pencils
company like HB , Apsara, Camlin pencils which are having good
position in the market. Our company have to include that factors in our
pencils by which our product look unique and different .
For giving the stiff competition we will sell our pencils at different price
as compared to other and we are also providing free sharpner to our
customers.
CUSTOMERS ANANLYSIS- Our company is targeting different types
of customers according to their needs and wants,. We are targeting the
students of school, engineers, artists. Various kinds of pencils will be
made by our company to satisfy the needs of our customers .

E.G-----Childrens like pencils having shapes of toys and other


attracting things. The persons who have to work in the offices like
simple pencils .Other professionals like different kinds of pencils so
pencils are made according to the needs and wants of these different
consumers.

ESTABLISHING OBJECTIVES- The main objective of our


company are as follows-

To provide better services to our customers.


To provide quality pencils to our target customers at the reasonable
prices.
To build a good image in the minds of our customers.
To increase sales of our product.
To generate revenues and profits by the sale of our pencils.

MARKETING STRATEGIES

For the introduction of new product in the market we have to develop a


preliminary strategy plan for introducing our new pencils in the
market.The plan consist of three parts.

1. First part dercribes target market’s size,structure,and behavior the


planned productpoitioningand sales,market share,and profits goals
sought in the few years by our product.Therefore the target markrt
for our pencil is mainly the childrens or, and persons of different
professions like painters, archietect, drawing experts that needs the
pencils for doing their work.We analyse yhe benefits which comes
out by the sale of the pencils.
2.The second part outlines the planned price ,distribution strategy,and
marketing budget for the first years.This part describes that what are
the features or special points of the pencils which we have to made .In it
we determine the prices of our different kinds of pencils.
Like we determine that the cost of our pencil is 2Rs each But if
thecustomers buy the box there cost will be of Rs 19.00 with a sharpner
free. In it we also determine the different kinds of expenses which are to
done for the introduction of our pencils in the market. Like the expenses
done on the sale,promotion advertisemen,print media of the pencils. All
the budget is made in keeping eye on all these things.That what are the
profits which come to us by the sale of the pencils.As we see that during
the first year a substantial amont will be spent on marketing research to
but audits and cosumers panel data to monitor market reaction and
buying rates.

The third part of the market strategy plan describes the long run sales
and profits goals and market mix strategy over time. As we see that our
products are selling at a verygood rate and giving us a lots of
profits.We can invest more and more money in it and tries to improve
the quality of our pencils by adding new features in it .We made the
product mix and decided to make new kindsof pencils with new
innovations and additional features .Like we should made pencil.To
achieve high returns product quality will be start high and be improved
over the time through technical research.

The price will be high at the intial level and lowered gradually to
expand the market and meet competition.The total promotion budget
will be boosted each year by 20% with the advertising- sale promotion
split evolving eventually by 50-50. The budget for market research will
be reduced proportionately after first year.
Market strategy plan is very essential in the business for the proper
allocation of revenues , expenditure from the product. It determines all
the expenditire don for the sale of our pencils in the market.It also
describes that to which segment of the customers we have to sell our
pencils and what price.
THREE LEVELS OF PRODUCT
Three Levels of a Product.

For many a product is simply the tangible, physical entity that they may
be buying or selling. You buy a new pencil and that's the product -
simple! Or may be not. When you buy a pencilis the product more
complex than you first thought? In order to actively explore the nature
of a product further, lets consider it as three different products –
the CORE product, the ACTUAL product, and finally the
AUGMENTED product

These are known as the 'Three Levels of a Product.' So what is the


difference between the three products, or more precisely 'levels.'

The CORE product is not the tangible, physical product. You can't
touch it. That's because the core product is the benefit of the product
that makes it valuable to you. So with the car example, the benefit is
convenience i.e. the ease at which you can go where you like, when you
want to. Another core benefit is speed since you can travel around
relatively quickly.

The ACTUAL product is the tangible, physical product. You can get
some use out of it. You can buy a pencil and can use it.

The AUGMENTED product is the non-physical part of the product. It


usually consists of lots of added value, for which you may or may not
pay a premium. So when you buy a apencil part of the augmented
product would be the warranty, the customer service support offered by
the pencil manufacture, and any after-sales service.
MANAGING THE DEVELOPMENT PROCESS

Upto now the product has existed in only as a word description,


adrawing , a prototype.The next step involves the a jump in the
investment that dwarfs the cost incurred in the earlier stages. At this
stage the company will determine whether the product idea can be
translated into a technically and commercially feasible product. I n this
step we have to made our ideas ,plans about the pencis in truth.In other
word we made our pencils according to needs and demands of the
customers.

PRODUCT DEVELOPMENT- The development of the pencils


starts at this step. The job of translating target customers requirement
are helpful in making of our pencils.We analyse all the collected data
from different kinds of customers and made our pencils according to
their needs. E.g the customers have said that theyat faces a lots of
problems during writing because their pencils do not work properly
their ,the points of the pencils get damaged during their writing time
due to which they faces a lots of problems.From this we get idea to use
thtat kind of lead in our pencils which is of high quality and would not
get damaged while writing.We adopt the quality function method for
manufacturing of our pencils. We develop a pencils according to view
taken by the peoples during market research.

Product mix- In product mix we include that what are the additional
benefits that we are providing to our customer along with our original
products i.e, in it we can provide some additional services to our
customers along with our pencils.

Like we can give customer free sharpener and eraser with the one box
of pencils.Along with one pencils peoples gets a free attached eraser. By
adding these additional things in our pencils the customers get
happy,and it will definitely results in the increase of the customers
loyality towards our product.It will also be helpful in retaining the
attention of the customers towards our product.
PRODUCT STRENGTHS AND WEAKNESS- Product strengths
and weakness describes the strengths of our pencils that what made our
pencils different from other pencils.

STRENGTHS OF OUR PRODUCT

Like we should add what kind of features in pur pencils that should act
as a strength of our pencils.
We raise the length of our pencils ,and provides different shapes of
pencils which distinct our pencils different from others pencils.
The offer of giving a free sharpner and a eraser is also helpful in
attracting the consumers towards our product.As more and more
customer are getting our pencils , these all results in increasing sale of
the product and increasing revenues of the company.

WEAKNESS OF OUR PRODUCT

Our company should also analyse the weakness of our product.

The main weakness may comes during the sale of the pencils that when
we offer a free eraser and sharpner with our pencils whether the
company may faces a lot of expenditure. These activities involves the
wastage of money by the company.

The pencils of other companies like HB Pencils, Apsara pencils. etc, are
the main competitors of our company. Our company have to add the
extra features in our product so that our product gets a different
position as compared to our competitors product.
PRODUCT LIFE CYCLE MANAGEMENT AND NEW
PRODUCT DEVELOPMENT-

In the product life cycle management we can describes the


product we determine for how much time we should sale our product in
the market, whether for a long time and for short period of time. Life
cycle of hallenA company positioning and differentation strategy must
change as the product, market,and competitors change over the product
life cycle.To say that the product have a life cycle is to assert four things.
1. Product have a limited life.
2. Product sale pass through distinct stages each poising different
challenges ,oppturnities and problems to the seller.
3. Profits raises and fall at different stages of the product life cycle.
4. Productrequireddifferentmarketing,financial,manufacturing,purc
hasing and human resource strstegies in each life cyclr stages

Productlife cycle of the pencils depends upon the needs of our


customers that for how much time our product should remain in the
market. If our pencils do not satisfy the needs of the customers it may
comes in the decline stage that results in the extinction of our pencils in
the market.Because the customers are not satisfied by our products
their demand gets changed due to which our pencils comes in the
decline stage.

INTRODUCTION- At the introduction period there is the slow sale


growth of the pencils.At this stage the profits are non existent because of
the heavy expenses of product introduction. In this phase the customers
are not much aware about our pencils. Large amount of advertisement
expense, discounts are given by our company to create awareness of the
customers towards our pencils.

GROWTH- A period of rapid market acceptance and substantial


profits improvements.At growth the product is selling at a high rate.

MATURITY- A slowdown in the sale growths shows the maturity


period. As the sale of our pencils are not undergoing upto the mark. The
customer are now not satisfied by our pencils, the pencils donot
functions according to their needs, results in the slow down in the sale of
our pencils. The customers now get satisfaction from our pencils. The
sale declines with the arrival of competitors in the market.It may seen
that if the new company may introduce a new pencils with new and
better features it will results in the decline in the sale of the pencils of
our product.

DECLINE- Decline shows the a down ward drift and profits erode.At
this point the profits from the existing product comes to zero. This stage
comes -
Due to the arrival of new competitors in the market and when the
customer satisfaction from our pencils are not up to the mark. This
stage may come when our pencil do not gives full satisfaction to the
consumers.Decline may also comes when the taste and preferences of
the consumers gets change.

If the decline stage may comes in the existing product life it is good for
our company to develop a new product according to the needs of the
peoples and providing a better sevices to the customers.

BRAND NAME, BRAND EQUITY AND BRAND IMAGE

Brand is the name ,term, sign,symbol or design or the combination that


tends to the goods and services of one seller or group of seller and to
differentiate them from others those of competitors.

A brand is the thus product or service that add dimensions that


differentitate it in some way from others products or services designed
to satisfy the same needs.These differences may be
functional,rational,or tangiblerelated to product performance of the
brand.
We give our pencils as the name’ ‘Reynolds PENCILS’ It’s a new
product of Reynolds pencil company. Branding may helps the
consumers to identify our product .The consumers starts finding out the
brand satisfy their needs and which ones do not.

Brands also perform valuable functions for the firms.They simplify the
product hanling or tracing.Brands helps to organize inventory and
accounting records.The brand name can be protected through
registered trademarks,and packing can be protected through copyrights
and designs.

SEGMENTATION TARGETING AND POSITIONING

1.GEOGRAPHIC SEGMENTATION-Pencils are used in different


regions all over the world Cultural factors have a great influence on the
behaviour of the consumer In each culture it is a sub culture that
provides aperson more identification in their groups.The consumer
living in different countries like different colours of the pencils. A child
growing in the U.S a likes the Yellow colour, a consumer in German
likes a green colour and hexagonal, and triangular shape pencils. These
behaviour of the consumer is due to different values and different
signifinace of these colours .

2.DEMOGRAPHIC SEGMENTATION-In demographic segmentation


we involve different reasons for the demographic use of pencils ,they
areby the childrens, painters, drawing persons to different kinds of
works. Childrens like pencils having shapes of toys and other
attracting things. The persons who have to work in the offices like
simple pencils .Other professionals like different kinds of pencils so
pencils are made according to the needs and wants of these different
consumers.
at one time. Peoples of U.S a likes the Yellow colour, a consumer in
German likes a green colour and hexagonal, and triangular shape
pencils. These behaviour of the consumer is due to different values and
different signifinace of these colours .

PSYOGRAPHIC SEGMENTATION

2.SOCIAL FAC TORS-Social factors include the family,


friends,reference groups,membership groups that affect the consumer
behaviour.The consumer gets motivated and suggested by them for the
purchase of the particular pencil.

2. FRIENDS- IF consumer friends are using that pencil and satisfied by


the service providing by the pencil,they suggest their friend to buy that
pencil.If the consumer sees that his friend is using that pencil,his writing
is done in a very good manner,pencil is having a good efficiency,
smoothness and sharpness,he gets motivated and will buy that pencil.

3.ROLE AND STATUS- Role and status has also influence on the
behaviour of the consumer .A personal participates in many groups –
family, clubs, organization . These’s persons position in each group can
be defined in terms of role and status. Each role caries a status .A
consumer which is concerned with high class society will buy a pencil
which is having aextaordinary characters
.E.g –a child belonging to the high class family is forced by his family to
buy a expensive pencil according to their status. Different people
perform different roles in the society and their needs are also different.

Pencils are made in keeping the different consumers in


front.

E. g-Today pencils are made ranging from a very hard,light,marking


pencils to a very soft black marking pencils usally ranges from hardest
to softest.

The consumers who are interested in creating full range of tones like
grey to black pencils,while engineers like harder pencils which allows
the greater control in the shape of the leadThis reflected the ways the
pencils are packaged and marketed.

Children wants their writing in a very good manner,small children like


pencils which looks attractive and having a wonderfull shapes of the
toys,sopencils are made according the interest of the different
consumers in different ways.

4.ADVERTISEMENT-Advertisement of a particular product have a


great influence on the behaviour of the persons. E.g when a consumer
sees a advertisement of a particular product it affects the behaviour of
the customer in woderfull way that the consumer gets ready to buy a
particular product.

E.g if the consumer watch a pencils which is coming and presenting in a


good and effecting manner he gets motivated to buy those kind of
pencil.

3.PERSONAL FACTORS- Personal factors influenced the behaviour


of the customer in a great way .These include the buyer age and stage in
the life cycle, occupation and economic circumstances,personality,self
concept,lifestyles and values.

1.AGEAND STAGE IN THE LIFE CYCLE- People buy different goods


and services over a life time.Age is the very important factor in the
purchase of a particular things or the pencils.E.g ,the small children
likes the pencils which are having a wonderfull appearance,toys behind
it and having different shapes. Pencils are used in the offices,so there
simple kind of pencils are used.Children wants a pencils which writies
in a smooth manner and having a very good lead in it.As the human
grows there needs changes. Elder peoples like the pencils which looks
simple.
2.OCCUPATION AND ECONOMIC CIRCUMSTANCES- Occupation
and economic circumstances have a great effect on the person. In the
economic factor the main aim of the consumer is to get the maximum or
optimum value for the money spent on a particular product . E.g –For
buying the pencils the person buy the pencil that gives him a maximum
values i.e –having more sharpness, writing speed and more efficient lead
used in it. Engineers want the pencils having the greater control in the
shape of the lead. Persons working in the offices want the pencils which
looks simple.The artist wants the different kinds of the pencils like
various dark and light pencils.

TARGETING –

By doing the segmentation we taqrgrt the consumers where we have to


sell our pencils.The main target are the childrens, professionals like
painters ,arcitect ,painters, drawing persons, etc we get knowledge
about the target knowledge that how we will communicate the product
to the customers. In it we have to remain aware of take competitive
advantage and aware the consumers to our product.

POSITIONING

In positioning we will get knowledge that how we will communicate the


product to the customers. In it we have to remain aware of take
competitive advantage and aware the consumers to our product. In
pencils sale we have to analyse the existing market brands of the pencils,
their features, and than positioned oyr product after analyzing the
Whole market condition and choose the right one way to communicate
our product in the market.

PRODUCT DIFFERENTATION

In product differentation we include the product form,quality,


durability,relaibilty. Style,design and service differentation of our
products.
we can differentiate our pencils from the others pencils in the markey
by changing their shapes, types,and styles.

We can change the style of our pencils,we made our pencils of having
different shapes like childrens like pencils having shapes of toys .

We attach different kinds of rubbers in back of our pencils, that


differentitate our pencils from others pencils.

We made pencils in different shapes like shape like, hexagonal shape,


round shape.

We could add a more length in our pencils.

We can provide different and better services to the consumers by door


to door selling, personal selling or seeling through online of the pencils.
We can give free eraser and sharpner with the one box of the pencils to
tlhe consumers.

These all things are helpful in providing better services to the


consumers and getting better pay back.We Can consult our customers
in case of any in convience.

PACKING- We can pack our pencils in the box which looks very
attractive and good manner. The packing should be done in a very
wonder full manner to attract the consumers towards our product.

COLOUR- Our pencils are found in different colours . As the consumer


according to their need may choose the pencil according to their choice.

PRICING
There are many ways to price a product.

USE A PREMIUM MARKET PRICING- Use a high price where there


is a uniqueness about the product or service. This approach is used
where a a substantial competitive advantage exists.
Penetration Pricing. For the product.
The price charged for products and services is set artificially low in
gain market share. Once this is achieved, the price is increased..

ECONOMIC PRICING

This is a no frills low price. The cost of marketing and manufacture are
kept at a minimum. Price of the pencils should be ecomic that the poor
peoples can also buy the pencils.

Price Skimming.

Charge a high price because you have a substantial competitive


advantage. However, the advantage is not sustainable. The high price
tends to attract new competitors into the market, and the price
inevitably falls due to increased supply. Once other manufacturers were
tempted into the market and the product were produced at a lower unit
cost, other marketing strategies and pricing approaches are
implemented.
Premium pricing, penetration pricing, economy pricing, and price
skimming are the four main pricing policies/strategies.

They form the bases for the exercise. However there are
other important approaches to pricing.

Psychological Pricing.

This approach is used when the marketer wants the consumer to


respond on an emotional, rather than rational basis..

Product Line Pricing.

Where there is a range of product or services the pricing reflect the


benefits of parts of the range. For example car washes.
Optional Product Pricing.
Companies will attempt to increase the amount customer spend once
they start to
buy. Optional 'extras' increase the overall price of the product or
service.

Captive Product Pricing

Where products have complements, companies will charge a premium


price where the consumer is captured.

Product Bundle Pricie

In product bundle price we can provide the customer a a box of pencils


at low price as comptred to the one pencil. We also give them free eraser
and sharpner with the box, so that the customer gets happy and we
would provide them better services.

Promotional Pricing.

Pricing to promote a product is a very common application. There are


many examples of promotional pricing including approaches such as
BOGOF (Buy One Get One Free).

Geographical Pricing.

Geographical pricing is evident where there are variations in price in


different parts of the world. For example rarity value, or where
shipping costs increase price.

VALUE PRICING

This approach is used where external factors such as recession or


increased competition force companies to provide 'value' products and
services to retain sales e.g we should increase the price of our pencils to
increase their values.
PRODUCT DISTRIBUTION CHANNEL

A channel of distribution comprises a set of institutions which perform


all of the activities utilised to move a product and its title from
production to consumption.

. Place is also known as channel, distribution, or intermediary. It is the


mechanism through which goods and/or services are moved from the
manufacturer/ service provider to the user or consumer

There are six basic 'channel' decisionDo we use direct or indirect


channels? (e.g. 'direct' to a consumer, 'indirect' via a wholesaler).

1Single or multiple channels.

2 Cumulative length of the multiple channels.

3 Types of intermediary
Number of intermediaries at each level (e.g. how many retailers in each
span)

SELECTION OF DISTRIBUTORS

Market segment - the distributor must be familiar with your target


consumer and segment.
Changes during the product life cycle - different channels can be
exploited at different points in the PLC e.g. new pencils are available
everywhere. Once they were sold via a few specific stores.
Types of Channel Intermediaries

There are many types of intermediaries such as wholesalers, agents,


retailers, the Internet, overseas distributors, direct marketing (from
manufacturer to user without an intermediary), and many others. The
main modes of distribution will be looked at in more detail.
1. Channel Intermediaries – Wholesalers
2. They break down 'bulk' into smaller packages for resale by a
retailer.
3. They buy from producers and resell to retailers. They take
ownership or pencils to goods whereas agents do not
4. . For example, pencils are sell to a wholesaler that will store it and
eventually resell to a retailer.
5. Wholesalers offer reduce the physical contact cost between the
producer and consumer e.g. customer service costs, or sales force
costs.
6. A wholesaler will often take on the some of the marketing
responsibilities. Many produce their own brochures and use their
own telesales operations.
7. Agents are mainly used in international markets.
8. An agent will typically secure an order for a producer and will
take a commission.
9. Agents can be very expensive to train. They are difficult to keep
control of due to the physical distances involved. They are
difficult to motivate.
. 10 Channel Intermediaries – Retailers will have a much stronger
personal relationship with the consumer. The retailer will hold several
other brands and products. A consumer will expect to be exposed to
many products.Retailers will often offer credit to the customer e.g.
electrical wholesalers, or travel agents.Products and services are
promoted and merchandised by the retailer. The retailer will give the
final selling price to the product.

Channel Intermediaries
Internet

The Internet has a geographically disperse market.


The main benefit of the Internet is that niche products reach a wider
audience .There are low barriers low barriers to entry as set up costs
are low. Use e-commerce technology (for payment, shopping
software, etc. There is a paradigm shift in commerce and
consumption which benefits distribution via the Internet.

FACTORS AFFECTING THE BUYING BEHAVIOUR OF THE


CUSTOMERS
There are various factors that affect the consumer behaviour.
A consumer behaviour is influenced by various factors like cultural,
social, personal ,physiological, factors. The needs of the consumers for
Hb pencils are different and vary according to their work, age and
their necessities.E.g –small children like pencils having different shapes
of the toys and other joyfull things as a result child like it very much
and do their work well.

1 CULTURAL FACTORS - Cultural factors have a great influence on


the behaviour of the consumer In each culture it is a sub culture that
provides aperson more identification in their groups.The consumer
living in different countries like different colours of the pencils.

A child the U.S a likes the Yellow colour, a consumer in German likes a
green colour and hexagonal, and triangular shape pencils.

These behaviour of the consumer is due to different values and different


signifinace of these colours .
SOCIAL FACTORS--Social factors include the family,
friends,reference groups,membership groups that affect the consumer
behaviour.The consumer gets motivated and suggested by them for the
purchase of the particular pencil.

1. FAMILY-A family have a great influence on the behaviour of the


person for the purchase of the pencils. Because the elders members of
the family knows that pencils are having a good quality,good graphite
used in it and more efficiency in it so they motivated their child to buy
that pencils.

2. FRIENDS- IF consumer friends are using that pencil and satisfied by


the service providing by the pencil,they suggest their friend to buy that
pencil.If the consumer sees that his friend is using that pencil,his writing
is done in a very good manner,pencil is having a good
efficiency,smoothness and sharpness,he gets motivated and will buy that
pencil.

3.ROLE AND STATUS- Role and status has also influence on the
behaviour of the consumer .A personal participates in many groups –
family, clubs, organization . These’s persons position in each group can
be defined in terms of role and status. Each role caries a status .A
consumer which is concerned with high class society will buy a pencil
which is having aextaordinary characters.

E.g –a child belonging to the high class family is forced by his family to
buy a expensive pencil according to their status. Different people
perform different roles in the society and their needs are also
different.Pencils are made in keeping the different consumers in front.

E. g-Today pencils are made ranging from a very hard,light,marking


pencils to a very soft black marking pencils usally ranges from hardest
to softest.

The consumers who are interested in creating full range of tones like
grey to black pencils,while engineers like harder pencils which allows
the greater control in the shape of the leadThis reflected the ways the
pencils are packaged and marketed.

Children wants their writing in a very good manner,small children like


pencils which looks attractive and having a wonderfull shapes of the
toys,sopencils are made according the interest of the different
consumers in different ways.

4.ADVERTISEMENT-Advertisement of a particular product have a


great influence on the behaviour of the persons. E.g when a consumer
sees a advertisement of a particular product it affects the behaviour of
the customer in woderfull way that the consumer gets ready to buy a
particular product. E.g if the consumer watch a pencils which is coming
and presenting in a good and effecting manner he gets motivated to buy
those kind of pencil.

3.PERSONAL FACTORS- Personal factors influenced the behaviour


of the customer in a great way .These include the buyer age and stage in
the life cycle, occupation and economic circumstances,personality,self
concept,lifestyles and values.

1.AGEAND STAGE IN THE LIFE CYCLE- People buy different goods


and services over a life time.Age is the very important factor in the
purchase of a particular things or the pencils.E.g ,the small children
likes the pencils which are having a wonderfull appearance,toys behind
it and having different shapes. Pencils are used in the offices,so there
simple kind of pencils are used.Children wants a pencils which writies
in a smooth manner and having a very good lead in it.As the human
grows there needs changes. Elder peoples like the pencils which looks
simple.

2.OCCUPATION AND ECONOMIC CIRCUMSTANCES- Occupation


and economic circumstances have a great effect on the person. In the
economic factor the main aim of the consumer is to get the maximum or
optimum value for the money spent on a particular product . E.g –For
buying the pencils the person buy the pencil that gives him a maximum
values i.e –having more sharpness, writing speed and more efficient lead
used in it. Engineers want the pencils having the greater control in the
shape of the lead. Persons working in the offices want the pencils which
looks simple.The artist wants the different kinds of the pencils like
various dark and light pencils.

3.PERSONALITY AND SELF CONCEPT- Personality and self concept


have a great influence on the behaviour of the consumer. If the
consumer gets satisfied by thepencils he would prefer the specific
pencil. Because his needs get satisfied by a particular pencil and he
would prefer to buy that pencil again and again.
These are the different factors that effect the behaviour of
the consumer and motivate him to buy a particular pencil because it
fulfill his all the needs and give him the full satisfactiongrowing in.

PROCESS OF CONSUMER BUYING BEHAVIOUR OR BUYING


DECISION PROCES

The consumer buying decision is based on five stage model that process
starts long before the actual purchase and has consequences long
afterwards.
The five stage model contains factorslike-
1. Problem Recognition
2. Information search
3. Evaluation of the alternatives
4. Purchase decision
5. Postpurchase Behaviour

1.PROBLEM RECOGNITION- The buying process starts when the


buyer recognized the problem or need. The needs can be arised by the
external or the internal stimuli. Firstly need for the particular pencil
arises. The consumer wants the pencil for doing his various works.E.g –
the child who is getting a admission in the school wants the pencils for
doing his work.

2.INFORMATION SEARCH –Consumer can collect different types


of information to solve his problem or to fulfill his needs
E.g –For buying the particular pencil he would get information from his
various sources like from his family, friends ,reference groups, relatives,
and advertisements. A family can motivate the consumer to buy a
particular pencils. E.g- A family can motivate their child to buy a
pencils,because of the great efficiency,smoothness,and good quality of
the lead used in the pencils.
If consumer friend is using the pencils he would motivate the
consumer to buy that pencil if he will get the satisfaction from the
pencil.

3.EVALUTION OF THE ALTERNATIVES- In this process the


consumer while getting any type of the pencil would compare the
other benefits that he would get with the purchase of the pencil.E.g the
consumer will see that whether he would get extra benefits to him like
more writing speed smoothness in the writing and in the work or
whether rubber is attached behind the pencil or not.If he will get all
these things in the
pencils decides to buy pencils.In it the consumer may
compare different companies like Apsara pencils,Natraj pencils.He
would evaluate the different kinds of the servies provide by the products
by combining their brand beliefs.He would adopt the rating system to
know about the efficiency,effectiveness,smoothness of the different kinds
of the pencils.

4.PURCHASE OF THE PRODUCT-As the consumer would


compare different functions of different companies of the pencils, he got
a result that the pencils are having a superior quality than any other
pencils,he will decide to purchase that pencil.

5.POSTPURCHASE BEHAVIOUR-After the purchase of the HB


pencils the consumer might experience a certain kinds of the
experiences. If the pencils performs all the works which are according
to the need of the consumer ie-smoothness, good writing, efficiency, the
consumer gets satisfied,or if the consumer not get the satisfactory
results from the pencils he may get dissatisfied and may dispose the
product. If the
consumer get satisfied he may purchase the pencils again and again.
These are the various factors that influence the behaviour of the
person or may helpful for the person to buy a particular product.
MARKETING COMMUNICATION

Marketing communication means by which consumers directly and


indirectly about the product and brand that they sell.In sense marketing
communication represent the voice of the brand and are the means by
which it relationships with the consumers.Marketing communication
performs several roles for consumers. If I have to sell my HB Pencils to
the consumers I will adopt various methods or communication
strategies for t he sale of my products.
1.Identify the target audience-The process must starts with a clear
target audience in minds ,potential buyers of the company
products,currentusers,orinfluences,individual groups.audience First of
all I select the target
i.e- to which segment of I would sell my products. The main target of my
product is childrens.Culture has also impact on the sale of Reynolds
pencils amonfg them,In each culture it is a sub culture that provides
aperson more identification in their groups.The consumer living in
different countries like different colours of the Reynolds pencils. A child
growing in the U.S a likes the Yellow colour, a consumer in German
likes a green colour and hexagonal, and triangular shape pencils. These
behaviour of the consumer is due to different values and different
signifinace of these colours .I will target the audience according to their
needsor usage of products.

2.DETERMINE THE OBJECTIVES- After the identifying the target


audience I will made the communication objectives.In it I include that
how would I create awareness about my pencils,which steps will be
taken by me to create awareness among the people about my
pencils.What communication strategy should be adopted by my
company for the sale of pencils. Our company should decide that what
new thing should be added in my pencil by which the consumer get
ready to buy it.
DESIGNING THE COMMUNICATION
Formulating the communication to achieve the desired responses will
require solving three problems that includes that we can which
communication strategy for the sale of our product. It includes the
additional benefits which the customer would get by our produc i.e we
can give a free rubber and sharpner to the customers. It helps in
making that type of strategy which is helpful in the sale of my product.

SELECTION OF COMMUNICATION CHANNELS


Selecting of the communication channel to carry the message and are
very
Helpful in the sale of the particular products.Our company should take
various communication channels for the sale of Reynolds Pencils.

1.PERSONAL COMMUNICATION CHANNELS-Personal


communication channels involve two or more person communicating
directly face to face .

1 Direct face to face interaction – By adopting this method we can aware


the customers about our Pencils by visiting the schools,visiting homes of
the customers.In case of children we can go their homes for showing
them our different types of pencils.This will hel them to adopt the
pencil according to their needs.

2 Telephones- we can communicate the awareness to the customers by


telling them about our pencils by telling them features of the pencil,like
smoothness of the pencils ,additional benefits to the customers.

3.E-Mail – Through e-mails we communicatwe with different kinds of


customers. We can show thecolours of our pencils along with different
pictures on the e-mail. Tis will also help for the artitect,painters to get
pencils of their choices. We sell our pencils through online also.
NON PERSONAL COMMUNICATION CHANNELS

Non personals communication channels are communicated


directeds tom more than one person and include media, sales
promotion, eventsand publicity.

1MEDIA- For the sale of our product our company adopt the the
print media,newspapers,magazines for the sale of our product. We give
advertisement on the T.V, radios,newspaper for creating awareness
among the peoples about our pencils.
We give a print advertisment in the newspapers and magazines for
attracting the customers especially the childrens towards our pencils.

2.SALE PROMOTON – We do the sale promotion of our pencils by


visiting to the schools and give HB pwencils to the children as a sample
fpr attracting them towards our pencils.
We show them different kinds of pencils having different shapes.This
woud be helpful in sale promotion of the product.

3 PUBLIC RELATIONS- Pulic relations of our company among the


society is very helpful for our product.The employees ogf the company
motivate other peoples ofn their concern ,should tell them about the
features of the pencils and motivate and encourage them to buy the
pencils. By this publicity of the product will also done among the
members of the society.

4.ADVERTISEMENT Adverisement has a great influence on the


attaining the retention of the customer towards their product. We made
a advertisement of our pencils by which various customers get attracted
towards our pencils.We show that advertistment on the
t.v,newspares.magaing zines It is helpful in creating interest of the
customers ly thetowards our pencils.Mostly we see that it retain the
attention of the children towards our pencils.
These are the various communication strategies that should be adopted
by each and every seeler for the better sale of their products and giving
better services to the coustomers.
FINANCIAL DOCUMENTS- After planning all these things at the end
our company will made a financial documents for analyzing the
expenses done for the manufacturing of the pencils, it will include all the
cash flows, expense on raw material, inventory, production cost,
advertisement cost done by the company for the introduction of our
pencil in the market. Financial plan will be helpful in analsing the
revenues generated in the end i.e, from the sale of the pencil and profits
gain by the company.

MONTOR AND CONTROLS- At the end of the marketing plan,


monitoring of the market plan is undergone by the experts for analyzing
that whether our company is moving on the same path or not.
Controlling is under for measuring the actual results with the well
determined standards. With the help of monitor and control we will
able to make new improvements and modifications in our product for
providing better services to our customers.
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(CREATING WORLD)
A product of Reynolds
company
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FEED BACKS AND EVALUTION OF THE CUSTOMERS


SATISFACTION

We can analyse the satisfaction given to the customers


by getting their feed backs.We should get the feedback through
different sources.We should call the customers and get information
from them. We can put queries from the customers for getting the
information that they whether our pencils works according to their
needs and works.They give them satisfaction or not if yes upto what
level ,and what are the problems faced by them durinfg the use of the
pencils.These feedbacks are helpful in bringing new changes in the
existing products of pencils.

CONCLUSIONS- From the above process , it will clear that the market
planning is necessary for the manufacture of the particular product and
upto the sale,and after sale process.It includes the whole process of
marketing ,From it ewe analyse our target customers, product
manufacturing.By doing market survey we get information about the
existing market conditions the needs of the customers.In this practise
there is a logical process that marketing follows. The marketing
plannimg process consist of analyzing marketing oppturnities, selecting
target markets; designing marketing strategies ,developing marketing
progammes;and managing the market
efforts.
BIBLOGRAPHY

1.www.businesstown.com/marketing plan.com
2. www.pencils.com/writing/journal
3. www.pencil revolution.com/category/reviews/pencils
4. www.pencils-portrait-drawiwng.com
5. www.paltoalto.com/marketing plan-software.com
6. www.enterprenuer.com/marketingbasics/marketingplan
7. www.pencil.com
8. www.pencil revoluton.com/category reviews/pencils
9. Books referred- Philip Kotler And Kevin Lane Keller
10. Product and Brand- Layman