Marketing Plan for Sainsbury's New Fragrance Candle Product Line

Marketing Plan

Introduction
Product marketing plan is known as the map for bringing new product in the market
and to present it to different audience in most effective and efficient possible way. This plan
usually helps in conducting market research and find organizational strength, explore the
possible potential customers, develops business marketing messages and help in choosing
right tools for the firm. It keeps the business in tract with analyzing different activities of
business and that are planning to do in future (Chernev, 2020). This report involves the
marketing plan of Sainsbury company which is deciding to launch a new product line in the
market for the growth and expansion.

Main Body
Marketing plan is the procedure of launching new product with risking and managing the
surroundings of market with an effective and efficient strategies. There are various
procedures that are involved before launching a product of services in the market. Sainsbury
is known as second largest retailing chain of supermarkets in UK, It was founded in 1869
(Opresnik, 2018). This company is known for its delicious and great quality of food with
competitive prices in the market (Westwood, 2019). Sainsbury has decided to launch new
fragrance candles and developed a marketing plan regarding it. The marketing plan is
described below.
Know your product
First step before launching the product is to known where that product is standing in the
market with some research. Research can be done by surveys and assuming customer
satisfaction for that product. Sainsbury has to analysis does their product is able to solve or
satisfy the needs of customers. Its important to find that what differentiates new products
with the other existing products in the market and why would any customer will buy that
(Sumarwan, 2019). After that targeting market is important and setting the potential price of
product. In a new product everything should be mentioned clearly is it disposable or
consumable, long shelf life and any specific precautions to use that product should also be
known.
Conduct market research
Conducting marketing research involve research on the basis of surveys, polls and assuming
requirement of customers. Three things are important while researching are seasonality,
market size and market trend. There are three ways to conduct market research that is google
trends which is a useful tool for identifying product is in flat market, growing or in falling
category. Google keyword planner is another way of research which describes the signs of
seasonality and indicate volume of the product. Buzzsumo is another tool of researching and
can be done on social media platforms and can get the information related to new product.
Define your audience
Perfect target audience is needed for the new product launch for better results. Targeted
audience is the one who share similar interest, demographics and behaviors. This audience is
crucial for allocating budgets, marketing strategies and attracting and developing new
products (Kinlen, and Golding, 2021). Target audience will let an organization known about
the interest rate of customers towards the new product. Sainsbury targets teenagers and pre
adults for their candle production.
Analyze your competitors
Important thing in marketing plan is to identify the competitors which can be searched from
social media platforms. Then sorting the customers by business relevancy as competitors are
divided in three parts that are primary, secondary and tertiary competitors. Primary customers
are those who are selling similar products and having similar audience. Secondary
competitors sell similar product with different audience and tertiary competitors are the