1.0 Marketing The mar ket ing con cept of bui ldi ng an organi zati on around the pro fita ble satisf act ion of cust omer needs helps firms to achieve success in hi gh-growth, mod erat ely compet iti ve mar ket s. However to be succes sfu l in mar ket s in whi ch economic growth has levelled and in which there exist many competitors who follow the marketing concept such as a well-developed marketing strategy. Such a strategy considers a portfolio of products and takes into account the anticipated moves ofcompetitors in the market. A marketing strategy can serve as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example, a low cost product to attract consumers. Once ourlow cost product has established a relationship with consumers, our product will sell and additional hig her -mar gin pro duc ts and ser vic es tha t enhanc e the consumer's interaction with the low-cost product or service. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results. A marketing strategy often integrates marketing goals, policies, and action sequences or tactics int o a coh esive who le. Similar ly, the var iou s strands of the strategy which include advertising, channel marketing, internet marketing, promotion and pub lic rela tio ns can be orchestrated. Marketin g str ate gie s are dyn amic and interactive. They are partially planned and partially unplanned. 1.1 Product Scented Virgin coconut oil (VCO) is growing in popularity as it is functional food oil and the public awareness of it is increasing. It is expected that Scented VCO will experience a dramatic growth in the market. The introduction of VCO has open up new research that basically reveals new things besides what has already been known on commercial coconut oil. Coconut oil has been used as a vital source of food for health and general well-being. Although once blindly labelled as a “bad fat” because of its saturated contents but many recent researches have found out that coconut oil poss esses the nutr ient s necess ary to maintain a well balanced and nutritious diet. It first gained popularity in traditional communities, particularly those
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The marketing concept of building an organization around the profitable
satisfaction of customer needs helps firms to achieve success in high-growth,
moderately competitive markets. However to be successful in markets in which
economic growth has levelled and in which there exist many competitors who follow
the marketing concept such as a well-developed marketing strategy. Such a strategy
considers a portfolio of products and takes into account the anticipated moves of
competitors in the market.
A marketing strategy can serve as the foundation of a marketing plan. A
marketing plan contains a set of specific actions required to successfully implement a
marketing strategy. For example, a low cost product to attract consumers. Once our low cost product has established a relationship with consumers, our product will sell
and additional higher-margin products and services that enhance the consumer's
interaction with the low-cost product or service. Marketing strategies serve as the
fundamental underpinning of marketing plans designed to fill market needs and reach
marketing objectives. Plans and objectives are generally tested for measurable results.
A marketing strategy often integrates marketing goals, policies, and action
sequences or tactics into a cohesive whole. Similarly, the various strands of the
strategy which include advertising, channel marketing, internet marketing, promotion
and public relations can be orchestrated. Marketing strategies are dynamic and
interactive. They are partially planned and partially unplanned.
1.1 Product
Scented Virgin coconut oil (VCO) is growing in popularity as it is functional
food oil and the public awareness of it is increasing. It is expected that Scented VCO
will experience a dramatic growth in the market. The introduction of VCO has open
up new research that basically reveals new things besides what has already been
known on commercial coconut oil. Coconut oil has been used as a vital source of food
for health and general well-being. Although once blindly labelled as a “bad fat”
because of its saturated contents but many recent researches have found out that
coconut oil possesses the nutrients necessary to maintain a well balanced and
nutritious diet. It first gained popularity in traditional communities, particularly those