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Marketing plan for New Zealand Dairy Food (NZDF) launch of a squeezable yoghurt product.

Extracts from this document...

Introduction

1 Executive Summary 2 2 Situation Analysis 3 2.1.1 Demographic 4 2.1.2 Economic Issues 4 2.1.3 Cultural and social consideration 4 2.2 Industry: 5 2.2.1 Market Size: 5 2.2.2 Analysis 6 2.2.3 Customers 8 2.2.4 Segments 9 2.2.5 Analysis of 4ps of the Industry 11 2.2.5.1 Product 11 2.2.5.2 Pricing 12 2.2.5.3 Distribution 13 2.2.5.4 Promotion 14 2.3 Company 15 2.3.1 Introduction of the company and its operation 15 2.3.2 Market share position and trends 16 2.3.3 Image and consumer perceptions 16 2.3.4 Analysis of marketing mix of the company 16 2.3.4.1 Product: 16 2.3.4.2 Pricing 17 2.3.4.3 Distribution 18 2.3.4.4 Promotion 19 2.3.5 Competitors 19 2.3.6 SWOT Analysis 20 3 Opportunity 21 4 Objective 22 5 Strategies 22 6 Tactics 23 7 Action plan 24 8 Budgeted contribution statement 25 9 Control 26 1 Executive Summary Although the market size of yoghurt industry has been growing, and consumers' need to yoghurt is also raised, the profit of the company has been fallen since 2002. The market share has been dropped 2% from 2002 to 2003. The reason for the problem cause is the increase of competitors' market shares. Competitors are expanding because of the launch new taste and new package products. Although the NZDF has launched new flavour yoghurts but the package of the yoghurt products have never been changed. The solution to the problem is launching a new package yoghurt product - Squeeze pack yoghurt. The new packaging of yoghurt products will give the company a competitive advantage. The company will gain benefit while the new convenient design of the new package benefits the customers. The objectives of this plan are: Achieve total yoghurt sales revenue of $155,085,500 in 2006, with represents a 10% increase per year with in next three years from 2004. Achieve total yoghurt package sales of 60,068,300 packs in 2006, with a average 5% increase per year with in next three years from 2004. ...read more.

Middle

They are getting less profit from those products on special but gaining more profit from the rest of products that is non-special. * Although the yoghurts' price is regular reduced by the supermarkets, the yoghurt average price per pack is still growing. The reasons are: the original price (non-special price) of yoghurt products are increasing; there are more new products being developing as mentioned before, and when new product are innovated, the price of it is more likely higher than the existing products. * It is a fact that grocery or snack food products are sensitive in pricing. When the price is dropped, customers are also being attracted in to store. Yoghurt is one of the grocery or snack food products, thus, it follow the rule of high price sensitivity. When the yoghurt products' price has been dropped more customers buy the products than before. 2.2.5.3 Distribution * All of the New Zealand top supermarkets sell yoghurt products. This include: Foodtown, Pak n' save, Countdown, Woolworths, New World, 3 Guys (Personal Observation). * The yoghurt products are in an important position in the supermarkets. It is in the position that customers must go through to buy their essential food for living (See detail information in Appendix 2). The position of yoghurt products on the shelf follows the top brand is in the eye level, where they can get more sale therefore more market share, followed by less famous brands. (See detail information in Appendix 2) * The yoghurt brand that have most facing products are fresh n' fruity, followed by Meadow Fresh, Yoplait, SM Calci Yum and DE Winkel. More facing means more opportunities for shoppers to see and to buy, and therefore more market share can be earned. (See detail information in Appendix 2) * Under normal circumstances, the margin for grocery products is 10%. Thus the margin of yoghurt products should also be 10%. ...read more.

Conclusion

7 Action plan Action Responsibility Date to be completed Confirm the design of the new package yoghurt. Design a name to the product. Production manager October 30 Confirm the production procedure for producing the new package Production manager December 15 Determine the cost of production Production manager December 30 Complete consumer testing to the product Marketing department January 30 Justify the product by feedback from customer Production manager February30 Provide sales forecast to the production scheduler and purchasing department Production and sales manager March 15 Apply for registration of brand name. Production manager March 15 Design display racks Production manager March 20 Decide the display racks Marketing manager and sales manager March 25 Order the display racks Purchasing department March 29 Trade launch by agency Marketing department March30 8 Budgeted contribution statement Year 1 Year2 Year3 Sales $ 13,056,000 15,539,300 17,432,000 Cost of sales $ 3,916,800 4,661,790 5,229,600 Contribution Before Marketing $ 9,139,200 10,887,730 12,202,400 Fixed Marketing Costs$ * TV advertising * Magazine * Radio * Bus school ads * Trade agency 1,097,000 580,000 420,000 300,000 214,200 1,410,000 620,000 500000 200,000 377,860 2,210,000 640,000 617,000 235,400 Total Marketing Expenses$ 2,611,200 3,107,860 3,702,400 Contribution After Marketing $ 6,528,000 7,769,650 8,500,000 The company assume that the cost of good sold is 30% of sales. 9 Control The achieving of objectives can be control by following way: * Select the performances that need to be monitored. The performance could be: the package sales, dollar sales, kilogram sales and so on * Compare the actual performance to the planned performance. This should be compared on monthly bases. By doing this, the company can have opportunity to control the plan better. * Specifying acceptable deviations and identify implications of deviations. It is common that not everything is going to perform as the way it should be. The company can specify the deviation in advance justify the deviation by appropriate actions to minimise any loss. * Make changes when needed. The company should also be aware of any changes to the market, and make decisions about changing of the plan to be more appropriate. ...read more.

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