Project of marketing plan for new product launch

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Transcript of Project of marketing plan for new product launch

Superior university Lahore

PAGE 1

RIPHAH INTERNATIONAL UNIVERSITYProject of Marketing Plan for New Product Launch

Presented to

PROF. ARIF VASEERPresented by:

MISBAHULLAH 16328

MUHAMMAD WAQAS 16418

AWAIS SHAH

16288

M RAMEEZ

17233Company name:

SUN RISE (PVT) Limited Company Company logo:

Product name:

FRESH VITA JUICE

Product logo:

Contents of Marketing PlanPart: 1 Executive Summery

Part: 2 Purposes and Mission

Part: 3 Situational Analyses Product Market Analysis

Distribution Analysis Competitor Analysis Financial Analysis Other AnalysisPart: 4 Strategy and objective Marketing strategy Marketing objectivesPart: 5 Technical programmed Market Product Promotion Distribution Pricing Other Part: 6 Budget Performance analysis implementation Budget and analysis ImplementationPart: 7 Additional considerations Executive SummeryThe 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 companys 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.

The Sun Rise (Pvt) CompanyVisionBe the global leader in customer valueMissionTo 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 The Sun Rise In RawalpindiThe 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 PracticesIntroduction To Fresh VitaPeople 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.

Slogan Refreshing world

Ingredients are: Mango apple pine apple banana grapes mix Artificial colors Stabilizers Ascorbic acid Beta carotene SugarObjectives To increase market shares To increase the length of product line To increase profit To satisfy customer To face the strong competitors Current Market SituationsFresh 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 allMarket segmentationsThe 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)Product reviewThe Fresh Vita is available in 250ml size and in different flavors Banana Mango Grapes Mix Orange PineappleCOMPETITIVE REVIEWFresh Vita CompetitorsThe 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 tomeOur main competitors are and Competitors Qualities Good distributions channel So many flavors Standard and attractive packing 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) 6,760,527000Promotion

They promote this product through

a. Electric media

b. Print media

c. FM radio

d. Wall chalking

Sales(net) 2014 Year end 2014 Rs. 96,457,743Product

Nestle beverages is product by nestle international

Qualities of nestle

a. large promotion and market coverage

b. large range of flavors

c. 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 packagingSWOT 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 monthsWeakness

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 populationThreats

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 competitors 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

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 personsMarketing 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 customers

In order to accomplish this objective, the company has established sales, marketing and support teams.Product variety Our product would be available in following flavors Orange

Grapes

Pine Apple Mango