Business Plan to Capture the Market - Essay Example

There is a potential market to purchase the product due to the large number of people building personal houses in the area.

Competitive Analysis

The market comprises three main competitors, such as Abuja constructors, Oga building Limited, and Okonwkwo Fabricators. The two minor competitors are Okocha Limited and Dibanj Holders limited. The strength of the main competitors is their long working hours, nearness to consumers, and their reputation. However, most customers complain that the main competitors lack client courtesy and good communication skills.  It is also apparent that they charge high prices for their products, which makes consumers order them from other suppliers outside the region.

 Marketing Action Plan

In order to capture the market, our firm will introduce cheaper prices to counter the pricing strategies of the main competitors. The other strategy is to embark on aggressive publicity, comprising of adverts in local radio stations and investment magazines. The sales forecast will be directed toward the target market to ensure that the budget caters to all the costs in the startup plan. The action plan is to coordinate all departments to segment the market for possible purchase of the Granite Marble.