Our marketing plans are tailored to your company, your industry or your products and services. We accommodate our tailor-designed marketing plans to your existing "Corporate mission" or global marketing plan. We are strong at accommodating our plans to your context and to the « Islamic environment ».
As an added value, we will bring you an "Islamic corporate vision." We will help you get a strong vision on the emerging Islamic markets and how to achieve a strong position in these markets. On the other hand, we could help you accommodate your Halal or Islamic products for Non-Muslim markets.
To succeed in the Halal industry or the Islamic economy, you need to avoid creating a « Halal gadget ». Therefore, we need to carry with you:
- Review of the marketing environment. A study of the organization's markets, customers, competitors and the overall economic, political, cultural and technical environment; covering developing trends, as well as the current situation.
- Review of the detailed marketing activity. A study of the company's marketing mix; in terms of the 8 Ps.
- Review of the marketing system. A study of the marketing organization, marketing research systems and the current marketing objectives and strategies.
These reviews are essential to ensure the match between your "products" and those "markets." They will enable us to achieve dedicated marketing objectives. We will define the measurement and therefore "quantifiability" of these objectives (sales volume, money value, market share, brand exposure, percentage penetration of distribution outlets.
Marketing objectives will be achieved via the 8 P's policy:
- Price - the amount of money needed to buy products
- Product - The actual product
- Promotion - Getting the product known
- Placement - Where and how the product is sold or distributed
- People - Who represent the business
- Physical environment - The ambiance, mood, or tone of the environment
- Process - The Value-added services that differentiate the product from the competition
- Packaging - how the product will be protected
The 8 Ps are a useful framework for deciding how the company's resources will be handled to achieve the objectives.
At this stage, we will need to develop your overall marketing strategies into detailed plans and program. Although these detailed plans may cover each of the 8 Ps, the focus will vary, depending upon your organization's specific strategies
A product-oriented company will focus on its plans by applying the 8 Ps around each of its products. A market or geographically oriented company will concentrate on each market or geographical area. Each will base its plans upon the detailed needs of its customers, and on the strategies chosen to satisfy these needs.
The characteristics of Marketing Plans by ISFIN are:
- unambiguous of 'exactly' what is to be done.
- The predicted outcome of each activity should be, as far as possible, quantified, so that its performance can be monitored.
- Avoid to proliferate actions beyond control.
- Agreed - Those who are to implement them should be committed to them, and agree that they are achievable. It is a TOP and DOWN decision. The resulting plans should become a working document which will guide the campaigns taking place throughout the organization over the period of the plan.
Content of marketing plans by ISFIN
We will generally use this framework with proven track record.
However, each client is unique and even the structure of our Marketing Plans can be adapted to its situation. Typically, we will include:
1. Title Page
2. Executive Summary
3. Current Situation – Macro-environment
- supply chain
4. Current Situation – Market Analysis
- market definition
- market size
- market segmentation
- industry structure and strategic groupings
- competition and market share
- competitors’ strengths and weaknesses
- market trends
5. Current Situation - Consumer Analysis
- nature of the buying decision
- buyer psychology and behaviour
- buyer motivation and expectations
- loyalty segments
6. Current Situation - Internal
- company resources
- mission statement and vision statement
- corporate objectives
- financial objective
- marketing objectives
- long term objectives
- description of the basic business philosophy
- corporate culture
7. Summary of Situation Analysis
- external threats
- external opportunities
- internal strengths
- internal weaknesses
- critical success factors in the industry
- sustainable competitive advantage and USP
8. Marketing Research
- information requirements
- research methodology
- research results
9. Marketing Strategy – Product
- Product mix
- Halal & Sharia compliance preparation
- Halal & Sharia process control
- Halal & Sharia compliance certification
- Product strengths and weaknesses
- Product life cycle management
- New Product development
- Brand name and image
- Product Portfolio Analysis
10. Marketing Strategy - segmented marketing actions and market share objectives
- by product
- by customer segment
- by geographical market
- by distribution channel
11. Marketing Strategy - Price
- Pricing objectives
- Pricing method
- Pricing strategy
- Discounts and actions
- Price elasticity and customer sensitivity
- Break even analysis
12. Marketing Strategy - Promotion
- Soft launch & Hard launch
- Promotional goals
- Promotional mix
- Advertising each, frequency, flights, theme, and media
- Sales force requirements, techniques, and management
- Sales promotion
- Publicity and public relations
- E-marketing & Social media
- Word of mouth marketing (buzz)
13. Marketing Strategy – Distribution
- Geographical coverage
- Distribution channels
- Physical distribution and logistics
- Electronic distribution
- Personnel requirements
- Training on selling methods
- Financial requirements
- Monitoring results and benchmarks
- Adjustment mechanism
- Contingencies (what ifs)
- Crisis & Risk Management – Anti boycott procedure
15. Financial Summary
- Pro-forma monthly income statement
- Contribution margin analysis
- Break even analysis
- Prediction of future scenarios
- Plan of action for each scenario
- Pictures and specifications of the new product
- Results from research already completed
Use and implementation of a Marketing Plan by ISFIN
A formal, written marketing plan is essential; in that it provides an unambiguous reference point for activities throughout the planning period. However, perhaps the most important benefit of these plans is the planning process itself. This typically offers a unique opportunity and a forum for information-rich and productively focused discussions between ISFIN consultants and the various managers involved in your company.
At ISFIN, we understand that your company may have shareholders!
Our Marketing Plans offer data showing investors how the company will grow and most importantly, how they will get a return on investment.