Marketing Plan for a New Plant Nursery
Origin of the report: We are students of East West University from department of Business administration. We were asked to do a Term Paper on Marketing Plan for a New Plant Nursery in our Marketing Management course. Then we started working on this report as a part of our course. So this is where the report basically originated. Objective of the study: We are making this report as a part of our marketing management course. Generally we are learning about market’s total situation including Branding, APS, Segmentation, Promotion, and so many market factors in this course.
So by this report on marketing plan we will get to know about how to establish a product in a market, which will help us to increase our knowledge about business. In a word gaining more knowledge about business process. And finally, we are doing this report for 10 marks, which will be added to our total Number. Limitation of the study: During the term paper making process we have faced so many problems. Those are mentioned below: v/ As our report’s topic is completely new, so it was quite tough to collect all information. We were not much experienced on making this type
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We didn’t get enough time for group study. We have faced problem in collecting information from different nursery due to transportation problem. Due to some unavoidable problem we started our work so late, so we had very short time to complete it. Marketing Plan for a New Plant Nursery: Marketing Management By sanitaria late for more 2 days. Scope of the Study: By this report we will get the complete knowledge about the product marketing plan which will help us in future and will create a scope of work well in marketing sector. Methodology of the study: To complete this report we have searched so many laces for information. We searched different sites from Google and also we collected information or basic definitions from marketing management book. Then we visited different nursery like- BRA CANON, Shop’s Shamanic Nursery, Mohammad Horticulture Nursery and so many road side small nursery. We also asked questions about these nursery to their workers or supervisors to get the knowledge.
Current Situation-Macro-Environment: The major external and uncontrollable factors that influence an organization’s decision making, and affect its performance and strategies. [pick] There are many factors in the macro-environment that will affect the decisions of the managers of any organization. Whenever a marketer tries to get into a market they must consider the macro environment forces. The development of macro environment is as necessary as other contents of marketing concepts. The major issues are – Socio Cultural Environment Ecological Environment Technological Environment Legal Environment 10. . Economic Environment: Before establish a plant nursery business we need to consider some changes of economy. These include interest rates, taxation changes, economic growth, inflation and exchange rates. As you will see throughout the “Foundations of Economics” book economic change can have a major impact on a firm’s behavior. For example: borrow. – Higher interest rates may deter investment because it costs more to – A strong currency may make exporting of our nursery plant more difficult because it may raise the price in terms of foreign currency. Ay provoke higher wage demands from employees and raise costs. – Inflation – Higher national income growth may boost demand for plant products. Also it determines the strength and size of the market. Though the market of plant nursery is now become very popular and profitable. The purchasing power in an economy depends on current income, prices, savings, and circulation of money, debt and credit availability where at Bangladesh we set different price for every level of customer.
The Plant nursery business is a very profitable business if we would consider all these facts at a country like Bangladesh. 10. 2. Legal: These are related to the legal environment in which firms operate. In recent years in the I-J there have been many significant legal changes that have affected firms’ behavior. The introduction of age discrimination and disability discrimination legislation, an increase in the minimum wage and greater requirements for firms to recycle are examples of relatively recent laws that affect an organization’s actions.
Legal changes can affect a firm’s costs (e. G. If new systems and procedures have to be developed) and demand (e. G. If the law affects the likelihood of customers buying the good or using the service). Legal factors have nothing to effect in our nursery plant business. Now political factors, it refers to government policy such as the degree of intervention in the economy. What goods and services does a government want to provide? To what extent does it believe in subsidizing firms? What are its priorities in terms of business support?
Political decisions can impact on many vital areas for business such as the education of the workforce, the health of the nation and the quality of the infrastructure of the economy such as the road and rail system. If the political situation of our country remains more stable and the government provides nursery plant business will have a positive affect because people will be in peace, here basic needs will be fulfilled by the government so they will be more interested to engage in activities like planting plants, social activities, concerning about the environment. 0. 4. Technology: New technologies create new products and new processes. AMP players, computer games, online gambling and high definition TV’s are all new markets created by technological advances. Online shopping, bar coding and computer aided design are all improvements to the way we do business as a result of better technology. Technology can reduce costs, improve quality and lead to innovation. These developments can benefit consumers as well as the organizations providing the products.
In our plant nursery business technological environment has a good effect and it is that due to technological innovation now a days plastic plant which is very similar to natural plant has emerged and people are showing their interest to buy the product because plastic plant has less difficulties to take care and plastic plant have no chance to die where as in natural plant people have to take care a lot and there is a possibility that the plant can die. So this is how the technological environment might affect our business. 10. 5. Ecological: Natural factors include the weather and climate change.
Changes in temperature can impact on many industries including farming, tourism and insurance. With major climate changes occurring due to global warming and with greater environmental awareness this external factor is becoming a significant issue for firms to consider. The growing desire to protect the environment is having an impact on many industries such as the travel and transportation industries (for example, more taxes being placed on air travel and the success of hybrid cars) and he general move towards more environmentally friendly products and processes is affecting demand patterns and creating business opportunities.
This natural environment will positively affect our nursery plant business. People are getting more conscious about environment and they are more concentrating about planting more plants to help the environment. 10. 6. Socio-cultural: Changes in social trends can impact on the demand for a firm’s products and the availability and willingness of individuals to work. This is too general an entity which influences almost all enterprises in a similar manner.
It is a complex factor such as social traditions, values and beliefs, level and standards of literacy and education, the ethical standards and state of society, the extent of social satisfaction, conflict and cohesiveness and so forth. So before we set a plant nursery business, we different socio-cultural issues like make awareness for tree plantation, giving them awareness about the greenhouse effect etc. By considering all these issues, we can build a pollution free green Bangladesh. Current Situation-Market Analysis: 10. 8.
Market definition: Market is a collection of buyers and sellers who transact over a particular reduce or product class. Five basic markets are defined. Those are: Resource, consumer, intermediary, manufacturer, and government market. Marketers often use the term ‘markets’ to cover various groupings of customers. They view sellers as ‘Industry and buyers as ‘Market’. Example: need markets (the diet-seeking market), product market (shoe market), demographic markets (the youth market), geographic market (the French market) etc. 10. 9.
Market size: Market size is defined by the buyers and sellers in a particular market. As our nursery is located at Patronage so our market will be in between patronage, ensnares, rampart and middle bad. We are not offering our product for a vast no. Of buyers , because at first we want to grab the attention of nearest areas people to make a place in market and then we will go for the large market size. Because we do believe in the Phrase ” Being a Hero off small kingdom is better than Being a Slave of a large Kingdom ” We adopt Mass Marketing approach under our market segmentation.
According to Mass marketing we segmented our buyers who like gardening, female participants, newly married couple, business planners and botanist. 10. 12. Porter 5 forces analysis: As we are new in this Market it would be so tough to differentiate ourselves from other competitors those are offering similar product. But we made it quite easy by using Porter five force analysis. Porter five forces are: I. Suppliers lie. Buyers ill. Entry Barriers lb. Substitutes Suppliers Power: There are so many suppliers all over the country from where we are collecting our plants.
Those have high market share in this field with lots of plant projects. Our suppliers are innovative about their products. They are rich in different types of plant. They are well organized and rich in capital. We have a deal with our suppliers hat we can switch to another supplier whenever we want to shift. Buyers Power: We are completely new in this field so we are targeting few amounts of customers. So our buyers will be limited within neighbor areas. There are so many well established nurseries already available in the market so buyers can easily move to another alternative if we don’t supply their desired plant.
Entry Barriers: We faced Problem in selecting employee with knowledge in plant section, then as a lacking in new technology but we did overcome from that. Finding a good distribution channel was quite tough Job to do at starting. Threats of Substitutes: Our close substitutes would be Plastic plant or artificial flowers. So if people start using plastic and artificial flower as alternate of real plant then we will face a strong threat. Customer those don’t want to spend time on cleaning or taking care of plant they might switch to other substitutes.
Competitive Rivalry: In Nursery business already so many competitors are available in the market with high market share and their place is so strong [like- BRA Canon, Shamanic nursery, Mohammad Horticulture Nursery and so on]. So it would be so tough to gain customer attraction and make them move to us. But we are offering some new features those are totally new so winning new customer would not be so tough. 10. 13. Competition and market share: Our nursery will provide competitive pricing for its products, and will guarantee to match competitors’ prices and offer lower than them.
Exceptional customer service and product variety will make us stand out to our target markets. Our location is very convenient and is 15 minutes from center of rampart. But nursery business is now at its high market growth rate, so it would be quite tough to cope up with so many competitors in the market. Following brands are the strongest impetigo for our nursery. This is one of our biggest competitors at the market. Their market share and sales growth is high. They have variety of plants.
They are rich in capital and they are using large space for their nursery with so many innovation and well decoration. Shop’s Shamanic: They are using small capital. Market share and sales growth is comparatively lower. They don’t have large space for their nursery. They are not even well decorated. So it would be easy for us to grab their customers even though we are not even at same area. Mohammad Horticulture: This is a government nursery. Their market share and sales growth is not that high. But they have a large space and different types of trees.