RAK Ceramics MARKETING PLAN

Our company has many competitors but has still managed to increase its sales despite the competitive environment surrounding them because of its competitive advantages. RAK Ceramics is the leading company in the Emirates that produces well-designed bathrooms as well as kitchen ceramic walls and floor tiles (Singh, 2009). RAK Ceramics produces high-quality tiles that are in high demand across the globe (Dhabi, 2013). The main market objectives of RAK Ceramics will be; promoting awareness to the customers about our products and promoting the company’s brand image. Strategies will be put in place to ensure that our company’s objectives are achieved in the shortest time possible. The strongest force impacting our market is the rivalry among competitors. Our competitors cannot use highly sophisticated technology in the production of the high-quality tiles.

Our company being in a position to use such technology will use this to its advantage and by the use of inkjet, it will be able to produce high-quality tiles. With this competing edge, we will ensure we stay ahead of the competitors 2. 3 Market Analysis RAK Ceramics potential customers have been loyal to the company’s brand image and enjoy the advantage of using tiles produced using the currently improved technology in constructions (Rahman, 2017). Expanding our distribution channels globally will give us an advantage in reducing the market competition hence increasing our sales in the global markets. Using these opportunities, we will increase the number of high-quality tiles produced and hence leading to the growth of RAK Ceramics Company. 0 Target Market Profiles RAK Ceramics Company targets specific buyers.

According to assignmentpoint. com Customers whose incomes range from 30,000,000 to 50,000,000 are significant consumers to our company. Objectives of increasing revenue by 30 % each year will be set for the first five years of our company’s operations. Profit margins in our company are concerned with revenues. Money left over from the sales revenue after payment of all the expenses is considered as profits. Profits are important in our company as they can be invested back for expansion and distributing it to the employees in a profit-sharing arrangement. We will participate in building up relationships with the suppliers and taking advantages of the economies of scales and will make our company remain with more money. We will use these objectives to build the brand image of our company.

We will use blog participation containing information about our company to allow our company to associate with the potential customers. Marketing Strategies 5. 1 Product strategy Tiles produced by the RAK Ceramics Company have brought up vast innovative and technological ideas that are important in the production of high-quality tiles and provision of high-quality services to our customers (Forkan and Ahmed, 2011). We are introducing a new line of tiles in the market including tiles produced using the Current technologies such as laser technology, inkjet printing, physical vapor deposition, firing using laser technology among others in developing innovative tiles. We will use social media and hashtags as a device to distribute our high-quality tiles. This is because majority of people nowadays have access to social media.

Since we have various RAK Ceramics stores worldwide, we will carry out promotions in each of the stores. In promoting loyalty to the customers, we will use campaigns within which we have invested on. This promotion strategy will help in giving our company and our products a good impression. This will help in improving our company’s image as well as our interactions with our customers. 2 Sales Promotion Program Our company will utilize the sales promotion programs to build or customer’s satisfaction. We will utilize the use of gifts to increase our sales. For example, we will be offering free tiles to the customers who will purchase a certain amount of tiles. We will also be providing free services such as providing free installations of the tiles.

6 Sponsorship Programs We will be offering sponsorship opportunities, especially on events. The RAK Ceramics Company has managed to sponsor the Middle East Architecture Awards that took place at the Conrad Hotel in Dubai (Khaimah, 2016). We have also managed to sponsor festivals whereby we have managed to create awareness about our high-quality tiles and exclusively distribute the products worldwide. Budget Plan 7. 1 Projected Sales Revenue According to the Ceramic Industry website, in the year 2016/17 first-quarter sales, RAK had a total revenue increase of 9. We anticipate increasing our rates to 7%. Urbanization in the Gulf Cooperation Council nations and India will speed up the growth of our company to the competing market. We also anticipate the gain of aesthetical consciousness of the ceramic tiles from the perspective of the consumers and this will lead to the growth of markets over the predicted periods (Kumar, 2015).

Monitor and Control Strategies We will be focusing on expanding our brand portfolio, our engagement in the social media campaigns and raising our market shares in monitoring and controlling our implemented strategies. It’s our company’s goal to raise our market share by 11% every fiscal year. The management team will assess the company’s financial statements to see how much money the company has been making. The income statements will measure the profit made by the company in a certain timeframe. References Singh, Ramendra. "H. & R. Web. May 9, 2018 Khaimah Ras Al “RAK Ceramics sponsors Middle East Architect Awards. ” Trade Asia. Business news information. December 12, 2016. F. Marketing strategies of tableware ceramics industry of Bangladesh: Some empirical evidence from international players. ” ASA University Review 5.