Choice's website provides an avenue for customers to search for productsinformation before deciding on a purchase. It should be actively updated,every day, almost every time to disseminate new messages or communicateabout seasonal offers. Individual bloggers may link their blog to Choice'swebsite referring good ratings on products at Choice stores, to express theirperception on the benefits of using the product. Website dynamics canprompt shoppers to sign up online, and detailed customer information isattained. From there, Choice may email weekly newsletters to engagecustomers further to shop at Choice. A video section on the webpage is12
useful to show how Choice employees promote products to increaseawareness of Choice's product offerings. Effective marketing program combines all marketing mix elements as atactical tool to establish secure positioning in target markets. Customers buyvalue or solution to a problem, as they are interested not only on the price butthe benefits it offers them by using the product until the disposing of theproduct. Aside from wanting products to be conveniently available, they alsowant to interact with the seller.6.0Budget 6.1Sales ForecastThe yearly sales forecast is measured based on the seasonal period andpublic holiday. Based on the Audited Financial Statement 2018 of ChoiceGroup, the sales revenue was recorded an amount of RM7.0million. Theprediction for sale forecast is recorded at 15% sales growth for year 2019 asdepicted as below : Diagram 2 : Choice’s Sales Forecast Prediction6.2Expense ForecastAggressive marketing budget is an importance reflection of marketingstrategy attributes. The marketing expenses comprises the following:-i)Website and mobile application programmer;ii)Installation of self-service payment counter;iii)Printed materials; andiv)Local Newspaper13
The expenses forecast depicted as follows:JanFebMarchAprilMayJuneJulyAugSepOctNovDec050,000100,000150,000200,000250,000300,000Marketing ExpensesWeb and Mobile Application ProgrammerLocal NewspapersPrint MaterialsSelf-service counter installationDiagram 3 : Choice’s Expenses Forecast6.3Linking Expenses to Strategy and TacticsThis Marketing Plan will be linked directly to sales revenue. If the salesincrease the marketing expenses will also be increased. Currently, themarketing expenses are about 5% of sales revenue or recorded atRM400,000. The marketing mix strategy, as stated above, will be monitoredclosely to determine the effectiveness of this marketing plan. The adjustmentfor marketing strategy will be made based on CRM to improve the salesrevenue.6.4Contribution MarginBased on the Audited Financial Statement 2018, Choice has recordedrevenue and cost of sales of RM81,761,232 and RM78,239,458, respectively.As for gross profit is recorded at RM3,521,774.14
The Contribution Margin is 4.3% calculated based on the below formula:Total Revenue – Cost of Sales= 4.3%Total Revenue7.0ControlsControl activities must be in place in order to monitor the number of customers andmeasure customer service satisfaction. Immediate response to resolve customerissues is essential to ensure customers do not leave for good.
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