Project of marketing plan for new product launch

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RIPHAH INTERNATIONAL UNIVERSITY Project of Marketing Plan for New Product Launch Presented to PROF. ARIF VASEER Presented by: MISBAHULLAH 16328 MUHAMMAD WAQAS 16418 1

Transcript of Project of marketing plan for new product launch

Page 1: Project of marketing plan for new product launch

RIPHAH INTERNATIONAL UNIVERSITY

Project of Marketing Plan for New Product Launch

Presented to

PROF. ARIF VASEER

Presented by:

MISBAHULLAH 16328

MUHAMMAD WAQAS 16418

AWAIS SHAH 16288

M RAMEEZ 17233

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Company name:

SUN RISE (PVT) Limited Company

Company logo:

Product name:

FRESH VITA JUICE

Product logo:

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Contents of Marketing Plan

Part: 1 Executive Summery

Part: 2 Purposes and Mission

Part: 3 Situational Analyses

Product Market Analysis

Distribution Analysis Competitor Analysis Financial Analysis Other Analysis

Part: 4 Strategy and objective

Marketing strategy Marketing objectives

Part: 5 Technical programmed

Market Product Promotion Distribution Pricing Other

Part: 6 Budget Performance analysis implementation

Budget and analysis Implementation

Part: 7 Additional considerations

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Executive Summery

The report explain the marketing plan for launching a fresh juice named Fresh Vita This product has been made by the Sun Rise (PVT) Limited Company is improved from the ministry of health. In the beginning of the report we have explained the mission and vision of the Sun Rise (PVT) Limited Company. And then we have future carried out our. It will be introduce in the market with the help of various promotional display advertisements and distribution of free samples to the general public and financial institution.

This report examine that this product is initially launching in Rawalpindi ’s domestic market.

The study included both primary and secondary research. The primary study focused on a survey of the competitors and the liking and disliking of the people. Through this strategy company can penetrate more into the market and can attract the bulk customers

For the purpose we have contracted SWOT analysis of the company to see company’s strength, weakness opportunities and threats. Then we have explained the purpose benefits and objectives of the product.

Then we have made a marketing mix strategy for our product. We have divided market into different segment and decided to target customers of all ages.

We have also paid special attention to packaging color and price of the product. We have decided to place the product in all the markets of Punjab specially canteen of college and universities

We will promote our product through various means of advertisement. We shall also conduct market survey in near future to know the opinion of the public about our product and developed our product accordingly.

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The Sun Rise (Pvt) Company

Vision“Be the global leader in customer value”

Mission“To set world class standard in juice industry through providing a diverse range of high quality products that are prepared in according with Islamic principals serving to satisfy customers taste and need and serve the society”

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The Sun Rise In Rawalpindi

The Sun Rise will commence its operation in Rawalpindi from May 2015. The factory facility has been founded on 20 canal area of land in the industrial area of korang town Rawalpindi. The factory is expected to match the demand of our product. We have ensure the installation of modern sophisticated and efficient equipment confirming to the very latest standard of “Good Manufacturing Practices”

Introduction To “Fresh Vita”People started too perished under the scorching the heat of summer in our country they need of energy drink to refresh themselves Fresh Vita is a fresh juice product. It provide energy and keep fresh when feel weak and tired after doing lot of work in whole day.

It contains vitamin and proteins which is useful energy sources. Vitamins gives freshness and proteins are the energy cells that are recharge the human body so they work at their maximum.

The students employee and workers all field of humans become tired due to the work burden and sunlight which make them feel lose. They need an energy drink that make them energize so they may be able to perform better again and feel fresh.

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Slogan

“Refreshing world”

Ingredients are:

Mango apple pine apple banana grapes mix

Artificial colors

Stabilizers

Ascorbic acid

Beta carotene

Sugar

Objectives

To increase market shares To increase the length of product line

To increase profit

To satisfy customer

To face the strong competitors

Current Market Situations“Fresh Vita” is fresh juice product that is going introduce in Rawalpindi domestic market. We are focusing to all levels of generation. The price of Fresh Vita is moderate because it is for all

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Market segmentations

The consumer of “Fresh Vita” consists of the followings:

Geographic:

A zone (Setlighte town Rawalpindi) B zone (koh e noor Mills

Naseerabad ,Rawalpindi Cantt )

C zone (Air Port Road ,Chaklala Rawalpind)

D zone (Raja Bazar Area,Rawalpindi)

Demographic:

Kids Elders

Patients

Etc.

Our competitors

The Fresh Vita is currently facing very competitive environment. Because already in market following compotators are:

Shezan Nestle

Benz

Country

Coca cola (aosis)

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Product review

The Fresh Vita is available in 250ml size and in different flavors

Banana Mango

Grapes

Mix

Orange

Pineapple

COMPETITIVE REVIEW

Fresh Vita Competitors

The competitors of Fresh Vita are more than ten. Shezan and nestle are leading market right now and other companies are also have a great image in market. Shezan and nestle have loyal customer in all over the Pakistan because both are from so many years in market. Our aim to compete our all competitors in short period of tome

Our main competitors are and

Competitor’s Qualities Good distributions channel So many flavors

Standard and attractive packing

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Large production and market coverage

Availability in various weights packing

Price

Minimum price of juice is 15 R.s

Place

Shezan has a large market share in Pakistan

Sales

Sales (net) (Year ending Jan 2014) 6,760,527000

Promotion

They promote this product through

a. Electric mediab. Print mediac. FM radiod. Wall chalking

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Sales(net) 2014

Year end 2014 Rs. 96,457,743

Product

Nestle beverages is product by nestle international

Qualities of nestle

a. large promotion and market coverageb. large range of flavorsc. high availability

Place Nestle has a large market share in Pakistan

Strategy Creating share value global forum Good pricing Better quality By offering different flavors Intensive distribution Attractive packaging

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SWOT Analysis of Sun RiseStrength

Weakness

Opportunity

Threats

Strengths:

Updated technology plant Quality product Specialist available for specialize task

jobs Hire experience staff Medical income of employee Pakistani made Targeted to low and middle class

people Reasonable price Expiry date above six months

Weakness

New in juice industry Small distribution network Strong competitors No market share Limited experience of customers

Opportunities Increase the distribution network Acquiring the new technology Market is very big and attractive Take over the distributor Increase demand of high quality of

product due to Rawalpindi being a develop city and density in population

Threats

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Political instability New entrance of exiting competitors So many competitors Retaining consumers Economic instability Increase of general sales tax Development of plant

Marketing Strategy and Objectives

The marketing strategy is based on positioning of product in the mind of consumers.

Providing high quality juice to the customers.

We will distribute our product on mass level so that we can maximize the profitability.

1. Positioning strategies

We want to put our image an on in the consumers mind as compare to competitor’s product. We want to target the high school’ collage and graduate students and government sector that have to work hard and need to “Refresh” them an instant,

2. Segmentation

We made the market segmentation on following basses

Geographic Demographic Psychographic Behavioral

Geographic segmentation

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Region City Rural and semi urban areas

Demographic segmentation

Age Family size Gender Income Occupation Education

Psychographic segmentation

Socioeconomic classification (SEC) Life style Personality

Behavioral segmentation

Occasions Benefits User status Usage rate Loyalty status Readiness stage Attitude towards the product

3. Targeting

We will target the following customers

Kids Youngsters Mature Old age persons

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Marketing Mix

Product Price Promotion Place

1. Product strategy Develop the long term relationship

with customers Give values to the customers to

delighting them Do whatever it task not satisfy the

customers but retain our customersIn order to accomplish this objective, the company has established sales, marketing and support teams.

Product variety

Our product would be available in following flavors

o Orangeo Grapeso Pine Appleo Mangoo Bananao Mix fruito Apple

Brand name

The name of our product is “Fresh Vita”

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Quality

High quality assurance would be our first priority. This would be ensured by

Implementing high quality standards

Total quality management Acquisition of high quality raw

materials

Design

Fresh Vita is the sweet, fresh juice with an eye catching tetra pack

Features

Here are some features of our product

Fresh original fruit juice Provide proteins and minerals Provide vitamins Beneficial for kidney Excellent in taste Gives freshness Tetra pack protection packing

Quality

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High quality assurance would be our first priority-high performance would be:

Implementing high quality standards Total quality management

Acquisition of high quality raw mat

Packaging

Product units are packed in 6-layered Tetra Brick Aseptic.

Size

Our product is available in 250 ml pack.

3. Pricing Plan

Our price includes custom services and other expenses. Passage through its life cycle changes its price strategy. To attain large market share prices should be at moderate level to seek attraction of large number of consumer

Pricing in Pakistan Rupees

Fruits cost Rs 8/-

Factory over head Rs 5/-

Miscellaneous Rs 2/-

Retailer margin Rs 2/-

Profit Rs5/-

Total price Rs22/-

According to our above pricing plan we have decided to offer the product to customers at Rs.20.The price is very much competitive and offer is feasible enough to catch a large percentage of market shares

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PRICE AND QUALITY GRID:

This grid shows what pricing strategy a firm is perusing;

PRIC

E

LOW

HIGH

PRESENTATION PRODUCT DEVELOPMENT

MARKET DEVELOPMENT

DIVERSIFICATION

LOW HIGH

QUALITY:

According to the above grid we are offering high quality with low rate.

4.Communication plan:Promotion:

Actually promotion is the first step when we are launching a product. But we make its strategy in last because we want our good image in the mind of our customers.

Criteria for promotion:

Our main objective to provide:

Awareness Knowledge

Liking

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Preference

purchasing

Core sources of promotion:

Electronic media Print media

cable network

billboards

hoardings

ELECTRONIC MEDIA:

CHENNEL TIME DURATION TOTAL

GEO Prime time & Post prime time 1 min 1215000

DUNIYA NEWS

Prime time & Early day 1 min 180000

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AJJ NEWES

Early day & Prime time 1 min 175000

SAMAA NEWS

Early day & Prime time 1 min 280000

TOTAL 2090000

PRINT MEDIA:

NEWS PAPER

PAGR COLOR OR

BLACK & WHITE

SIZE DAILY BASIS

WEEKLY BASIS

CHARGES

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JANG FRONT COLORED STANDARD SIZE

DAILY 18600

EXPRESS MID COLORED STANDARD SIZE

DAILY 5000

DIN FRONT COLORED STANDARD SIZE

DAILY 15000

THE DAILY TIMES

BACK COLORED STANDARD SIZE

DAILY 17500

NAWA-E-WAQAT

BACK COLORED STANDARD SIZE

DAILY 15000

AKHBAR-E-JAHAN

BACK COLORED FULL WEEKLY 600000

TOTAL 683000

BILLBOURDS:

LOCATION SIZE DURATION TOTAL COST

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Setlight Town 20’’60 1 MONTH 250000

Sadder 20’’60 1 MONTH 215000

Air Port Road 20’’60 1 MONTH 70000

Naseerabad 20’’60 1 MONTH 115000

TOTAL 115000

HOARDINGS:

LOCATION SIZE DURATION TOTAL COST

Setlight Town 30’’90 1 MONTH 1200000

Sadder 30’’90 1 MONTH 1000000

Air Port Road 30’’90 1 MONTH 1000000

Naseerabad 30’’90 1 MONTH 200000

TOTAL 3400000

CABLE NETWORK:

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LOCATION TIME COST

Naseerabad 6:00pm to 10:00pm 30000

Air Port Road 10000

Sadder 25000

Schem 3 20000

Total 85000

BENEFITS:Following are the additional benefits which are offering to the customers to give them values:

Give five rappers and get one juice pack Purchase ten pack & get one free juice

If you purchase one crate of juice then you would able to participate in lucky draw for following:

PLACE:

Distribution reviews

To assure the availability of its product * Fresh Vita * juice has established affective dealer network

The main target of these juices is Rawalpindi.

Manufacturer

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The end consumer would then purchase “fresh “from the retailer. The distributors are the most reliable distributor in the region.

BUDGETING:

S. No

Description Amount

1 Cost of land 25000000

2 Raw material 5000000

3 Stationary 50000

4 Office expenses 100000

5 Furniture 500000

6 Staff salaries 50000

7 Freight inward charges 60000

DISTRIBUTOR

RETAILER

CONSUMER

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8 Repair & maintenance 150000

9 Research & development 90000

10 Technology 1000000

11 Marketing & media expenses 6648630

TOTAL 38648630

CONTROL:This is the main and last element of the marketing planning by using this we can check the standard of our product for the purpose of correcting any error if occurs

There are three main functions are performed under this element of planning:

Measuring Comparing

Correcting

Measuring

We can check marketing condition through meaning in which different type of task may be performed like

Surveys

Survey for the future:In order to learn weather people would like to buy our product, we have decided to conduct a market survey in future so that we can assure that people like our product or not.

Comparing:

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In controlling process we compare our product with our standards

Correcting If any problem occurs then correcting process will take place in which we found that from where the problem will arises.

1. Marketing organization:

Fresh Vita’s chief marketing officer, hold overall responsibility for all the company’s marketing activities so. There are other subordinates with him to help the sales campaigns, trade and consumer sales promotion, and public relation efforts.

2. Action programs:The “Fresh Vita” will be introduced in December .following are summaries of the programs we will use during this summer session to achieve our stated objectives.

May we will initiate 80,00,000 rupees trade sales promotion campaign to educate dealers and generate excitement for the product launch , and provide sample crates to our selected product reviewers, opinion leader and celebrities as part of our public relation strategy.

June we will start with integrate print /television campaign. The campaign will show how many features the “Fresh Vita” have for users to reenergize them.

July as the juice advertisement continues, we will add consumer sales promotion by including them to our message. We will also support or retailer to increase our sales.

August we plan to roll out a new advertisement having new views of customer through survey who have used our drink which ill help to promote our juice.

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Reference:SPECILY THANKS

KHALID KHANFROM MARKETING DEPARTMENT

EMAIL: [email protected]

Saad AHMAD (MARKETING MANAGER)

EMAIL: [email protected]

Please give me or guide me with your comments

MISBAH ULLAH

[email protected]

contact no: +923129232531

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