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Write 5 page essay on the topic Marketing plan for Milk.Download file to see previous pages... A marketing plan is prepared for assisting the business in integrating the total marketing efforts. The p
Write 5 page essay on the topic Marketing plan for Milk.
Download file to see previous pages...A marketing plan is prepared for assisting the business in integrating the total marketing efforts. The planning process begins with an attempt by the company to size up its present market situation and the factors responsible for it. Such a plan ensures a systematic approach to developing products and services to meet and satisfy the consumer's needs. An established milk beverage manufacturer is introducing a completely new product - flavored milk beverages for the segment 6-12 years old. The marketing plan for this product will be as follows.Current marketing situation: Flavoured milk also known as value added milk is being placed by British companies for different segments of the market. are increasingly targeting the value-added milk for growth opportunities as they re-align their businesses and move away from commodity products.
Current competing cost/profit ratio: In view of the stiff competition and presence of big players in the market place, the cost/profit ratio is likely to remain high with higher cost inputs and lower returns. We cannot put a higher price tag to recover all the costs involved.Opportunity and issue analysis: So far in particular the flavoured milk market has managed to compete as some sectors of the milk and cream market still suffer from a lack of innovation and marketing support. Healthy eating trends are having an impact on the market which has started favouring semi-skimmed and skimmed milk.Entry/exit barriers: White milk accounts for 96% of the market share. Well established branded products are also in the market. ...
Flavoured milk is facing increased competion in the chilled segment from functional yogurt drink.
Benefiting from current Milk campaign: An increased awareness amongst the consumers about the benefits of flavoured milk.
Objectives: To create a niche for itself in the existing market and mainly amongst the targeted segment.
Money Goals: To start with the company is ready to bear some losses for the initial period but the efforts will continue with renewed vigour for attaining the breakeven point as soon as possible.
Sales goals: In the first year of operation, company can target to lure away at least 2-3% of the existing market. The company will try to gain as many new customers as possible.
Profit goals: Company is not looking for profits from the word go. It plans to go ahead with a longer perspective. But at the same time it is worth pondering that business needs to payback to financers, investors, employees and other stakeholders.
Market Goals: The market will be 6-12 yrs old kids. That means we'll have to target the schools, schools administrators and other faculty so that they inform the students about the arrival of a new quality flavoured milk in the market.
Market Share: Since we are a new entrant, that means we'll have to be realistic in our approach. We must understand that we'll be able to create the marketing space for our product only when we take good care of the consumer needs and quality.
Consumer loyalty: Let us not expect the tiny tots to be our loyal consumers overnight, as they are the one's who are very difficult to divert enblock towards a new product. Their consumption pattern will be affected with the influence of their parents and teachers.
