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Marketing Strategies for Icip-Icip

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82 views26 pages

Marketing Strategies for Icip-Icip

Uploaded by

MohdAfif Haziq
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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FACULTY OF BUSINESS AND MANAGEMENT

DIPLOMA IN BUSINESS STUDIES


(BA111)
MKT243 FUNDAMENTAL OF MARKETING

LECTURE’S NAME:
SIR SYAHMI BIN HARUDIN

PREPARED BY:

NAME MATRIC NUMBER


NUR DAMIA IZZATI BINTI AZLAN 2023130679
NUR FATIN NAJWA BINTI MUHAMMAD ZAKI 2023131001
AMANDA SYAZREEN NATASHA BINTI MANGSOR 2023148177
SITI SOLEHAH BINTI BASHARUDIN 2023135077
MOHAMAD AFIF HAZIQ BIN MOHD RADZI 2023141019

SUBMISSION DATE:
TABLE OF CONTENT

Acknowledgment 1
Introduction 2
Body of Reports 3
1.0 Business Profile 3
2.0 Segmentation 4

2.1 Target Market 5


2.2 Segmentation Bases 5
2.3 Strategies for Selecting Target Market 6
3.0 Product 7
3.1 Significance of the Product 7
3.2 Type of Consumer Product 8
3.3 Specification of the Product 9
3.4 Benefits and Function 10
3.5 Labeling 11
3.6 Trademark 12
3.7 Positioning Strategy 13
3.8 Pictures of the Products 14
4.0 Place 15
4.1 Type of Marketing Channel 15
4.2 Levels of Distribution Intensity 16
5.0 Promotion 17
5.1 Type of Promotion Tools Applied 17
5.2 Tagline 18
5.3 Sample Promotional Activities Done 19
6.0 Pricing 20
6.1 Pricing Objective 21
6.2 Price of the Product 22
6.3 Tactic of Setting the Price 23
Conclusion and Recommendation 24
ACKNOWLEDGMENT

We would like to express our sincere gratitude to our lecturer of Fundamentals of Marketing, Sir
Syahmi Bin Harudin for his guidance and motivation on our assignment. All praises and Thanks to
Allah SWT for the completion of this assignment. Our assignment would not have been complete
without the encouragement of our parents who had always supported us. Through this assignment,
we learned many things in detail about marketing and it boosted our knowledge. We would like to
give special thanks to all the people who helped us either directly or indirectly in completing this
assignment. We also want to express gratitude and thanks to Mrs. Anis Adlina Binti Amir, the owner
of Icip-Icip, and her husband which is Mr. Juni Fansuri Bin Ir Mohamad Husny Hamid for giving us
cooperation to interview about their business.

1
INTRODUCTION

 SITI SOLEHAH BINTI BASHARUDIN


2023135077

 NUR FATIN NAJWA BINTI MUHAMMAD ZAKI


2023131001

 NUR DAMIA IZZATI BINTI AZLAN


2023130679

 AMANDA SYAZREEN NATASHA BINTI MANGSOR


2023148177

 MOHAMAD AFIF HAZIQ BIN MOHD RADZI


2023141019

2
1.0 BUSINESS PROFILE

Business Name Icip-Icip

Location UiTM Merbok

Type of Business Franchise based business

Owner’s Profile  Name: Anis Adlina Binti Amir


 Age: 54
 Qualification: Degree in Business, UUM

Photo of Icip-icip's Stall

Photo of Icip-icip's stall owner

3
2.0 SEGMENTATION

2.1 Target Market

 CURRENT

Students in UiTM – Icip-Icip's target market was the students who live inside UiTM and want
to buy a budget type of food. This business has been quite exposed among the students in
UiTM.

 REVISED
General Audience – we revise Icip-icip target market to be general audience because it can
help exposing their stall to the consumer. Basically, we want Icip-icip to not put specific
target of the consumer to expand the business.

4
2.2 Segmentation Bases

 CURRENT

Demographic Segmentation - Icip-Icip is currently using demographic segmentation for their


market. The business focuses on income segmentation as most of the buyers are usually
students. They set prices that are affordable for students to buy without any complaint.

 REVISED

Psychographic Segmentation - to improve the business, we revised to use psychographic


segmentation to segment their market. Icip-icip should be in an area known for its
unadulterated and revitalizing way of life. The delectable aroma, flavour, and artistic
presentation of the food will draw in customers.

5
2.3 Strategies For Selecting Target Market

 CURRENT

Concentrated Targeting - This business used concentrated targeting strategies to select its
target market. This strategy only concentrates on a single segment. This business focused on
selling “ayam gunting” to the consumer.

 REVISED

Undifferentiated Targeting – We choose this strategy because anyone can be a potential


customer as this market segment has no targeting audience. This business could appeal a
diverse range of customers as there are many people who love to eat “ayam gunting”, so
every age of groups and gender can enjoy Icip-icip

6
3.0 PRODUCT

3.1 Significance Of The Product To Consumer

 CURRENT

The significance of the product given by the owner to the consumer is ’budget bites’. This
business serves chicken as the main ingredient. The food that they sell is ’Ayam Gunting’,
chicken fillet, and sausage jumbo. The price is affordable for students who want to buy a
budget food.

 REVISED

The significance of the product that the stall could make is combo menu for the consumer.
They can make a various combo such as ramen with sausage jumbo, ramen with cheese
mozzarella stick and ramen with ‘ayam gunting’. They also can include beverages in combo
menu since it will make a complete dish.

7
3.2 Type Of Consumer Product

 CURRENT

The type of consumer product for Icip-icip is a specialty product. Icip-icip is a quite unit
product but the price they sell is little cheap than another stall. Icip-icip can be considered as
rare purchase as there only one stall in Malaysia.

 REVISED

We think that there is no revised for this type of consumer product as the current one is
already the best choice.

8
3.3 Specification Of The Product

 CURRENT

There are many varieties of food that the consumer can choose such as ‘Ayam Gunting’,
chicken fillet, sausage cheese and mozzarella cheese stick. They sell ‘Sotong Raja’ too but
only if they have enough ingredients. The specification of the product for foods is flour for
frying, chili powder, egg, breadcrumbs, cooking oil and the main ingredient which is chicken
breast, sausage or mozzarella cheese stick.

 REVISED

Icip-icip can add cheese sauce to make the food looks interesting and tasty. It can also add
flavors and texture to make a dish more satisfying.

9
3.4 Benefits And Function

 CURRENT
The benefits and function of the business are preferable among the chicken lovers because it
is very delicious, and the price is very affordable, and the product is popular among the
students. It is because the smell of fried chicken has attracted them to buy it.

 REVISED
We revised that the business must add other product such as drink because it is suitable for
customer to have a drink while eating the chicken and it also can attract non-chicken
customer. Customer will enjoy and quench their thirst and release their stress by visiting this
stall.

10
3.5 Labelling

 CURRENT
Currently there is no labelling for Icip-icip product.

 REVISED

11
3.6 Trademark

 CURRENT
Currently Icip-Icip's stall does not have a trademark yet. However, this does not affect their
product from being a marvellous and appetizing product.

 REVISED
We want to recommend Icip-icip's stall use their logo as the trademark. Their logo contains
of the word of “Icip-icip" and we also recommend they add some picture such as
chicken.

Icip-icip's Stall Logo

12
3.7 Positioning Strategy

 CURRENT
Icip-icip's stall focused on their selling in UiTM Merbok as they wanted to help students who
cannot afford to buy fast food.

 REVISED
We suggested them to open their stall at night market or food festival to let more people
know about their delicious product. By doing that, they can increase the number of
consumers that like to eat fried chicken. Other than that, they also can increase their profit.

13
3.8 Pictures Of The Products

MOZARELLA STICK SAUSAGE JUMBO

AYAM GUNTING CHICKEN FILLET

14
4.0 PLACE

4.1 TYPE OF MARKETING CHANNEL

 CURRENT

Direct channel – Currently, Icip-icip route the products directly to the consumer. The
customer can order their product online through platform like group WhatsApp and
Telegram. The customer can also walk in into their stall, or they can pick up their order after
preorder from WhatsApp.

 REVISED

Retailer channel – we would like to change the type of marketing channel that icip-icip use to
retailer channel. This is because the retailer can help promote the product through platforms
that they want such as WhatsApp, Instagram, Twitter, and TikTok. The retailer can act as an
intermediary’s person to help further the business sales.

15
4.2 LEVEL OF DISTRIBUTION INTENSITY

 CURRENT

Selective distribution – icip-icip do targeted for B40 students.

 REVISED

Icip-Icip should remain its level of distribution, which is a selective distribution level. This is
because it gives benefits in terms of consistency in sales performance and cost savings that
are important for the business to expand in the market. They also need to open stores in
selected places only to target their customers so that they can maintain their business.

16
5.0 PROMOTION

5.1 TYPES OF PROMOTION TOOLS APPLIED

 CURRENT
Advertising – Impersonal, one-way mass communication about a product or organization
that is paid for by a marketer. Icip-icip using advertising as their promotional strategy. For
instance, Icip-icip using telegram as a platform to promote their product by taking a pre-
order from the students.

Icip-icip's Telegram

 REVISED

17
Sales promotion- Icip-icip's stall can use sales promotion to promote their product, this will
increase the number of consumers to purchase their product. For example, Icip-icip's stall
can offer vouchers and coupons for every 4 purchases ofsausage jumbo by the customer.

5.2 TAGLINE

 CURRENT
Currently Icip-Icip's stall does not have a tagline yet.

 REVISED
We strongly recommend Icip-icip's stall to use this tagline, “Unleash Your Craving”. This is
because this tagline can attract the customers who is feeling hungry to go buy at the Icip-
icip's stall.

18
5.3 SAMPLE OF PROMOTIONAL ACTIVITIES DONE

 CURRENT
Icip-icip made a physical promotion through whiteboard on table then put in front of the
stall to promote their product on promotion day.

Physical promotion on whiteboard from Icip-icip stall

19
 REVISED
Icip-icip can make a voucher for the new customer such as the new students to make them
realize the existence of their stall.

Example of the voucher that icip-icip can distribute

20
6.0 PRICING

6.1 PRICING OBJECTIVE

 CURRENT
Status Quo Oriented Objectives - Icip-icip maintain the existing price so the students can
afford to buy the product.

 REVISED
Profit-Oriented Pricing Objectives – Icip-icip can use this price objective to maximize their
profit so that the total revenue is as large as possible relative to total costs. This can help
increasing their income as much as possible.

21
6.2 PRICE OF THE PRODUCT

 CURRENT
RM9 for ‘ayam gunting’ (per bag)
RM4 for sausage jumbo (per pieces)
RM2 for fillet (per pieces)

 REVISED
RM7 for ‘ayam gunting’ (per bag)
RM6 for sausage jumbo (two pieces)
RM2 for fillet (per pieces)

22
6.3 TACTIC OF SETTING THE PRICE

 CURRENT
Status Quo Pricing – icip-icip charge their consumer with a regular price but not same with
other competitor that use in stall. For example, ‘ayam gunting ‘from icip-icip product charge
for RM9 but ‘ayam gunting’ from other stall charge for RM 12.

 REVISED
Penetration Pricing – icip-icip sell their product with a level price that are accessible for
students to give the opportunity for all students to buy. For example, icip-icip can charge for
one pieces of sausage jumbo with two pieces of fillet for RM5 in promotion day.

23
CONCLUSION AND RECOMMENDATION

By conducting this project, we can conclude that Icip-Icip has utilized a smart and intelligent
marketing mix to sell its food and services, as evidenced by the following factors: product, place,
promotion, and price. Icip-Icip consistently ensures that its products maintain high quality because
they always want the best for their customers. Our research revealed that the location of the branch
are also very strategic, making it easily accessible for everyone. Moreover, the price is also affordable
so that everyone in the campus can buy it. This is important because they can gain new customers to
get the quality products at an affordable price.

Since Icip-Icip is expected to grow its operation in the future, they should start planning to expand
their branch and modify the shop to make it bigger and more comfortable. This is because they only
has one store, so they needs to make things easier for its customers and employees. Futhermore,
they need more promotions to give a better exposure about the shop and let people know about
their products. Additionally, we suggest Icip-Icip to create new products and services to give
customers more options. This will help the company to become more efficient and appeal to a larger
audience.

24

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