Marketing Plan - MGM3180
Marketing Plan - MGM3180
Marketing Plan - MGM3180
GROUP MEMBERS:
NAME MATRIC NO.
NUR HANANI BINTI ABDUL HAMID 206574
NUR FARAH NAJWA BINTI AZMALI 206100
KONG PEI JUN 206815
POONG CHYI EN 212688
NUR ZULAIKHA BINTI AMLIE 209045
Contents
EXECUTIVE SUMMARY 3
DESCRIPTION OF PRODUCT/SERVICES 4
MARKET ANALYSIS 5
OVERVIEW 5
TARGET MARKET 6
MARKET SIZE 6
DEMOGRAPHIC 6
LOCATION 7
PSYCHOGRAPHIC 7
BEHAVIOR 8
TRENDS 8
COMPETITOR ANALYSIS 9
MARKETING BUDGETS 20
APPENDICES 21
REFERENCES 22
EXECUTIVE SUMMARY
Thrift the Treasure will be a new apparel store focusing on vintage garments from all over the
world established by five enthusiastic students of Universiti Putra Malaysia. The boutique
collects second hand clothing from different kinds of style from vintage, chic, Bohemian to
casual daily wear, remodifies them by and resells it back in our store. We feature a
contemporary and fashionable design specifically aimed for college students, middle and high
school students, young professionals and adults who are passionate in fashion regardless of
their gender.
Based on our observation, we noticed that the clothing apparel nowadays has a limited design
where every store sells the same clothing with an upscale price. For those who have a passion
for fashion but do not want to spend their valuable money on expensive garments, they would
love to have a visit to our store and be able to choose their favourite fit without having to worry
Keny’aku store is a start-up company that focuses on second hand clothing and we are planning
to sell and advertise the clothes fully using online platforms such as Instagram and Facebook.
Finally, we guarantee to serve the best quality of garments to our client without any exception.
On top of that, all the feedback and criticism will always take credit to enhance and grow the
company to become better so we will be able to continue producing an exquisite product for
the customers.
DESCRIPTION OF PRODUCT/SERVICES
Thrift the Treasure: “Moment of sparks started with clothes that shine you~” offer a superior
quality of garments despite being based on second-hand clothing. Although we are based on
second hand clothing, we still closely monitor each and every piece of the clothes that we sell
to ensure it is still in good condition. Not only that, we will remodify and customize each
garment to suit the newest fashion trends and only serve the best for our customers. Our
speciality will be focusing entirely on the style, types of garments used, design and captivating
color to attract our customers attention. For instance, we will be selling cardigans, denim, vests
and jackets that can be worn on a daily basis or even as formal wear. We on Thrift the Treasure
try our best to satisfy our customers by producing garments that ideal for each body size from
petite to plus size versions since our main concern is to ensure our clients are happy with the
Thrift the Treasure will profit solely from the sale of our garments and by distributing
membership cards that give a lot of benefit for our customers. Not to forget, we will also be
conducting a holiday sale, end-of-season sales, discounts and distributing vouchers periodically
from time to time. By using our membership card, our client will get extra point when they
make purchases and the points can be used in the next purchases to get more discount.
has its own theme and caters to a particular customer base. As consumers look for inexpensive,
one of the fastest expanding segments in the global fashion industry. Before the 20th century,
the general public’s perception of thrift shopping was primarily very negative because some
local authors write short stories said that the bundles of clothing brought disease. However,
due to necessity, a surge in leisure buying, and marketing initiatives, public acceptance on thrift
shows started to gradually increase. Moreover, used clothing sales were predicted to increase
from $36 billion in a 2021 to approximately $77 billion by 2025, been analysis by the second-
hand marketplace, ThredUp and the analytics company, GlobalData. In the Malaysian
consumer environment, thrift shopping is not solely a result of social class limitation on income
because people from all socioeconomic levels also engage in this activity. In past generation,
it was deemed uncool to wear used clothing, but today, thrifting could be considered as
fashionable in Malaysia. What is/are the speciality of our products compared to those products
that already existed? Most of the Malaysian second-hand stores simply keep selling the same
goods with the same design after obtaining the clothes from the supplier. Thus, Thrift the
Treasure provides their target market with a whole new fashion experience featuring high-
quality garments and a variety of designs, our company opted to manufacture the products into
brand-new things.
TARGET MARKET
MARKET SIZE
The total available market (TAM) for Thrift the Treasure would be all people in Serdang
especially those who interest in experimenting with new fashion. Estimated population in
and government workers who are based in Putrajaya and Cyberjaya. this number arrive by
excluding people who are under 18 years old and other groups who might not interested in our
products. However, from the total of population, we find out that the total possible demand for
our products in Serdang might be around 67,500 people (45%). Our business strategy was
centred on serving people who are ages between 19 to 50, particularly young people and
working women. As a result, we found that there are roughly 37,125 people from TAM in
Serdang who are certain to be interested in our products, which means our serviceable available
market (SAM) is 55%. Furthermore, we have around 5 employees and can only serve 3,700
people a year. Therefore, our serviceable obtainable market (SOM) is about 10 percent from
our SAM.
DEMOGRAPHIC
Thrift the Treasure is a product that has no specific gender, allowing customers to purchase
their preferred options regardless of their gender. Additionally, Thrift the Treasure promotes
all types of family units because our items are frequently offered at low prices that appeal to
our generation’s sense of style, particularly among teens who want to look good and
fashionable. Moreover, we do not just target you people; we also target full-time employees or
adult working women who want to look fashionable constantly even though they were too busy
with their work. Statista reports that women make up most Malaysia’s fashion consumers,
are our target customers, we looked for a specific site that could serve as our main base of
operations before opening our store. Thrift the Treasure picked Taman Sri Serdang as their
location because it is well-suited to draw in their target customers. Taman Sri Serdang is the
only town that students from UPM can readily visit, and it is in the centre of a housing estate.
Moreover, because of Taman Sri Serdang offers public transportation options like the Smart
Selangor bus, taxi and grab car, their targeted customer may easily access there. Additional to
our physical store, Thrift the Treasure offers their customers access to their own website, social
media channels like Instagram and Facebook. An increase of 24 percent from 2016 to January
2021 saw the percentage of active social media users in Malaysia rise to 86 percent. In addition,
throughout the pandemic era, customers could not be walk-in to the store. As a result,
consumers now regularly make purchases online using social media channels. Therefore, to
create our own brand awareness, Thrift the Treasure came out with our own online store called
PSYCHOGRAPHIC
Since working adults and students make up majority of our consumer base, Thrift the Treasure
maintains an emphasis on providing their customers with the greatest attractive apparel. As a
result, our company continuously updates its line of clothing in accordance with current trends.
Our company will put a greater emphasis on casual clothing that consumers may wear it on
their daily basis, to go out, or even to class. However, we also give priority to provide adult
women with a business clothes, such as collared shirts and skirts with blazer. On the other
hand, most of the young people today enjoy experimenting with different clothing style
combinations. Consequently, we made the decision to design a large number of clothes that no
customer service. Since we will sell the product on three internet platforms, our targeted
customers are those who are enjoying browsing and shopping online. As a result, consumers
might make us as their first choice due to our customer service is customer friendly and easy
for them to make purchases. In addition, customers who prioritise quality, value, and cost are
TRENDS
The number of thrift stores in Malaysia has increased recently. Some examples include Jalan
Jalan Japan, 2nd Street Bundle, Bandoru, Bless Shop, Baden Baden Bundle, and Vintage
Moonriver, which are all situated in Kuala Lumpur and Selangor. Most of their bundle stores
sell vintage shoes, graphic t-shirts, and preowned items from Japan. To provide our customers
with a completely whole new experience, Thrift the Treasure is trying to make brand-new
products from the bundle of garments we purchased. However, we constantly give our
customers seasonal apparel from other countries as well. Additionally, not everyone who is
interested in fashion may have the time to travel to the downtown area to shop at those second-
hand stores. Consequently, customers might prefer to visit to our stores first before choosing
others second-hand stores because our store are convenient. In addition, because we are a
relatively new company, people could be more inclined to try our product than those of other
lot of other thrift shops that could be classified as our competitors. Examples of rival retailer
with a focus on used clothing and accessories that are present in Malaysia are UNIQLO,
PUMA, H&M, Jalan Jalan Japan, 2nd Bundle Street, JBR Bundle Shah Alam, Family Bundle,
and others. Thrift the Treasure is a new company; thus, our main rivals are company like Jalan
Jalan Japan and JBR Bundle Shah Alam. This is due to the fact that many consumers already
familiar with their store. Since Thrift the Treasure is a new business, we must work harder to
According to market study between Thrift the Treasure and other second-hand clothes
or retailer shops, Jalan Jalan Japan receives the largest volume of searches for local brand stores
in Malaysia, with 22K people doing so. The JBR Bundle, Shah Alam, has 3.1K people who
search for them. However, those shops still fall short of the total number of searchers attained
by UNIQLO and H&M, whose respective retail stores bring in 135K and 74K. Furthermore,
Thrift the Treasure currently lacks sponsored advertising and press releases in comparison to
those other retail stores that sell the same product as us. Hence in the future, we must improve
our advertising to ensure people recognize our store and are able to reach out to new customers.
One of the value propositions in Thrift the Treasure is to provide affordable prices to
the customers. Comparing our cost and price to our competitors, Thrift the Treasure is able to
obtain a cheaper price because raw materials used in our product has a lower price. We secure
our raw materials from our suppliers and also from people who recycle their clothes to us.
Uniqlo and H&M for instance have spent a higher price for their raw materials hence making
PRICING STRATEGY
Product line pricing aims to separate goods into cost categories with the aim of creating
abundant quality and feature levels in the consumer's mind. This strategy plays a crucial role
in product mix pricing strategies since Thrift the Treasure develops product lines rather than
single products and aims to maximize their profits. For instance, when you look at a clothes
brand such as Thrift the Treasure, you will see a relation between the different clothes with
different design and their prices. Hence, in this strategy, Thrift the Treasure must regulate the
price steps between numerous products in a product line according to cost differences between
the products, customer opinions on the value of different features, and most vital, competitors’
prices. Customers can sense Thrift the Treasure's philosophy by how it sets the pricing policy.
This shows that well-chosen prices will lead to maximizing long term profits and generating
optimal revenue. In addition, by executing this strategy, it can help Thrift the Treasure be more
Based on the table above, product line pricing can be seen clearly by how Thrift the Treasure
sets the price for some of their products based on the product category. This simple price
strategy will make customers' perceptions of product prices clearer and make customers trust
us more. Although this strategy will be affected by the surrounding economy, because of the
scope of Thrift the Treasure, the price of the product will not be affected too much.
The previous price strategy was used in the initial stage. When the company is booming,
although the profit calculation is still the same as before, the cost and pricing will be changed.
Regarding the cost, in addition to the fixed cost mentioned earlier, Thrift the Treasure also
consider variable costs, such as a fair reward for the company’s efforts and risk-taking.
Regarding pricing, in addition to cost considerations, Thrift the Treasure will also consider
customer feedback and market competition. Thrift The Treasure need to determine the price
and study the production of competitors according to the market demand situation and the
difference in consumer perception of the product conditions, service conditions, price levels
and other factors, according to their own competitive strength, refer to costs and supply and
demand conditions to determine the price of goods. This will not only guarantee its own
pricing in which Thrift The Treasure will combine two or more products as a package to sell
them at a price that is less than if the same products were sold individually with the intention
to save customer’s money. Due to the fact that Thrift the Treasure’s products are part of the
product mix, it is harder for it to set the price because all of the prices for the product must be
correlated. In spite of that, with the help of this strategy it makes it possible for Thrift the
Treasure to be on the right track. Even though this strategy enables Thrift the Treasure to boost
product sales and build customer loyalty, the combined price must be appropriate enough to
convince the customer to buy the bundle package instead of the single products. Moreover,
bundle pricing is also a key for Thrift the Treasure to offer more value to their loyal customers
their garment in a bundle with low price and in different packaging. By using this strategy in
setting the price for its products, it proves the worth of the bundle purchase rather than
purchased separately. As stated in the table above, as long as you buy more than 2 products for
the same product line, Thrift the Treasure will give this purchase a 10% discount. If the
purchase is conducted more than 4 products for the same product line, Thrift the Treasure will
give a 15% discount for this purchase. Also, Thrift the Treasure prepare the special discount
for the different combination. Every purchase conducted 2 products from different product
lines will receive an RM5 discount. For every purchase conducted 3 products from different
product lines will receive an RM15 discount. The huge difference on the price is the most
important differentiator for consumers because they will feel like they have gotten the greatest
deal when they can get a bundle price on products they are interested in. To highlight, product
bundle pricing is a win-win situation for everyone because it gives benefits to customers in the
form of offering customers a suite of products for one price while Thrift the Treasure receives
more customer value. Furthermore, this strategy creates a problem for Thrift the Treasure’s
competitors to directly react as they would have to brainstorm for new comparable packages
PROMOTIONAL PRICING
In simple terms, price promotion is one of the marketing techniques where the price of a
product is kept reduced from the original price temporarily which can lead to building customer
loyalty and at the same time expand sales volume. This strategy is only suitable for a certain
season that occurs in a short period of time. Starting every month, Thrift the Treasure will hold
a promotional price that will lower the price for some of its products in order to line up the
company’s sales. Promotional pricing is the perfect strategy to increase sales of a product and
is appropriate to achieve it. The first 100 consumers will receive a 30% discount for the
purchase that has been made by them. Also, Thrift the Treasure will give vouchers offered
RM5 for every purchase of RM50 at any Thrift the Treasure’s online store. When customers
do the comparison of price and the advantages of Thrift the Treasure with other brands, they
will notice the huge differences and this will encourage them to be loyal customers of Thrift
the Treasure.
SALES VOLUME
After calculation, Thrift the Treasure’s break-even point is 612 units. That means Thrift the
Treasure should sell 612 units of the products to achieve zero profit. After the level of 612
Break-even quantity= Fixed cost / (Sale Price per Unit – Variable Cost per Unit)
Calculation
Fixed cost = Wages + Rental + Advertising + Depreciation
= RM 23760 + RM 3000 + RM 1850 + RM 75
= RM 28675
Variable Cost per Unit = (Delivery + Packaging) / units
= (RM 1440 + RM 450) / 600units
= RM 1890 / 600 units
= RM 3.15
3 months. At this level of sales volume, Thrift the Treasure will target itself will have a net
profit of RM3475.
RM RM RM
(-) Expenses
Rental 3000
Wages 23760
Advertising 1850
Packaging 450
Depreciation – sewing 75
machine
Loan interest 810
what to buy and where to acquire it. Having a great online presence entails allowing online
potential consumers to find the store and browse the products listed by them. To create brand
awareness, Thrift the Treasure has its own online store called Thrift the Treasure Mall that
consists of a lot of information about its products such as the company's history, vision and
mission, the latest products, and product line. Thrift the Treasure Mall makes it easy for
customers to get their wanted products without having to go to a store. Through Thrift the
Treasure Mall, it offers a full range of Thrift the Treasure product. Customer orders can be
automatically entered into order databases from the website, lowering order processing costs
of Thrift the Treasure. After the purchase, the products will be sent to the customers’ homes
directly.
Thrift the Treasure also sells their products using online shopping platforms which are Shopee
and Lazada. Shopee and Lazada are the Top 6 eCommerce Websites in Malaysia. Currently,
Shopee is available in Taiwan, Korea, Indonesia, Malaysia, Singapore, Thailand, Vietnam, and
the Philippines. With an e-commerce store, Thrift the Treasure expanded its reach to virtually
Also, Thrift the Treasure use the drop shipping method to sell its products through channels
such as Grab, Poslaju, Gdex, J&T Express, Skynet, DHL and ABX Express to deliver its
Figure above show mode of courier used for shipping Thrift the Treasure item
ADVERTISING AND PROMOTION PLAN
To promote our product, we share and advertise and promote it through many platforms. Some
of the reasons we advertise it are to establish our organization’s identity, promote our latest
product, to attract new customers and to boost our products during sale. There are many
platforms that we can use to promote our product, which are through social media, online
● Social media.
Social media is one of the common ways for many people to promote their product. For
our products, Thrift the Treasure are planning to use social media as well, particularly
on Facebook, YouTube and Instagram. However, after research had been taken, we
identified that Instagram are one of the popular platforms that the majority of the
younger group, which is Thrift the Treasure target customers segment used. Therefore,
to attract our fellow customers, one Instagram account has been made to share
information to the public and build up a good brand name. From all the platforms that
have been made up before, Thrift the Treasure are planning to use Instagram as our
main platform, then Facebook and YouTube as the last. This is because, if Instagram
has younger customers, Facebook has many types of fashionista, especially older
women or men who like fashion. Therefore, by signing up for these accounts, they can
easily go through our Facebook account and buy their own choice.
● Online campaigns.
To promote our product through an online campaign, Thrift the Treasure plans to go
with YouTube ads and Instagram ads. Some of the main reasons why Thrift the Treasure
go with YouTube ads are because they are extremely cost-effective. This is because as
a seller, we do not have to spend a lot of money to start our business. Next, nowadays,
YouTube advertising is highly targeted. This is because many people who are our
targeted customers usually use YouTube in their daily life. Therefore, we can target the
YouTube advertises our video which helps us to connect with the audiences. Viewers
who are interested in fashion might pass the advertisement that we have released on
YouTube ads. Hence, we might get many customers through YouTube ads. Last but not
least, YouTube advertisements prove that they can provide fast results. Since YouTube
has over 2 billion monthly users, it’s easy to get our targeted customers from those
viewers. Beside promoting our product in online advertisements, banners are another
alternative. By promoting with banners, we can locate it at specific places that can
attract customers. This is because, by using banners, we can tell people that we have
something to offer and choosing banners in company colours can help customers to
make closer associations. Thus, we can instantly promote our product to draw in our
potential customers.
By using email, we can attract our overseas customers. This is because, since they
hardly watch our banner and go through our Instagram account unless they have been
told, email is one of the alternatives to approach them. In those emails, we can include
our link for our social media account, or days where we are having sales on certain
days. Therefore, they can buy their specific products through our online websites. We
should choose this method because by including it, we can get our targeted customers
from other countries and Thrift the Treasure is likely to steal the attention of many
● Digital influencer
Another alternative way to promote our business is by using digital influencers. This
means that we are hiring a few influencers that will promote and upload 3 posts of our
product through their Instagram or Facebook account for each month. Each post that
they upload are around RM35. Therefore, for each influencer, we need RM105 for their
wages. The main reason why we are hiring influencers as our alternative is because
many youths nowadays are kept up to date with their favourite influencers. Therefore,
they can attract the attention of many people as they keep posting our products.
MARKETING BUDGETS
Based on Thrift the Treasure’s 3 months of marketing plan implementation and consideration
of the brand’s size and scale, the marketing budget is amounting to RM 1850. Moreover, the
marketing budget allocation is regarding to the brand’s needs and marketing requirements.
The marketing budget allocation table sums up the various strategies that will be used in Thrift
the Treasure marketing plan. Furthermore, it is important to make sure that the implemented
strategies are strictly controlled and monitored as to ensure the right marketing plan is
implemented and to achieve the estimated results. Thus, each and every review, comments and
ratings through the online platform will be seriously considered, analysed and evaluated for the
https://www.nst.com.my/business/2021/12/752536/eight-10-people-malaysia-make-
second-hand-purchases-says-carousell
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industry-ecommerce-trends-2021-consumer-
profile/#:~:text=Malaysia’s%20fashion%20shoppers%20skew%20slightly,being%20f
emale%20according%20to%20Statista.
September 2019.
7. Thomas T. Nagle and Georg Muller, The Strategy and Tactics of Pricing: A Guide to
Growing More Profitably, 6th ed. (New York: Routledge, 2018), Chapter 1.