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Silk Soymilk Marketing Plan

Team 6 Final
by

Casey Welsh

on 24 June 2013

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Transcript of Silk Soymilk Marketing Plan

COMPANY DESCRIPTION
The First refrigerated soy milk
Launched in 1996 by White Wave Inc.
In 1999, White Wave Inc. was purchased by Dean Foods.
International Leader in the production of soy based
dairy alternatives.
MISSION

"To creatively lead the full integration of natural soy foods into the average American diet through socially responsible and environmentally sustainable business practices."
SUSTAINABILITY
Silk is growing, but we’ll never outgrow our founding principle: to make foods that are good for people and for the planet.
CUSTOMER ANALYSIS
INTERNAL MARKET
EXTERNAL MARKET ENVIRONMENT
COMPETITOR ANALYSIS
FUTURE ENDEAVORS
SWOT ANALYSIS
OBJECTIVES
MARKETING STRATEGY
THE MARKETING MIX
NEW ADVERTISING CAMPAIGN
CONCLUSIONS
Alex Comerford
Nick Colapinto
John Malbon
Pam Garcia
Casey Welsh

Products
It All Starts Here.
Meet Our Beans.
Silk Soymilk
Refrigerated
Shelf-Stable
Organic
Light
Seasonal
Meet Our Family
Silk PureAlmond
&
Silk PureCoconut
Silk Creamer
Silk Fruit&Protein
Silk Live!
Soy Yogurt
economic.
technological.
political/legal.
cultural/social.
vs
largest competitor
Introduced in 2003.
First to introduce light soymilk.
Continues to lag behind Silk in market share.
Main almond milk competitor: Blue Diamond
Contracts directly with almond growers
Competition in the lactose-intolerant target market
Indirect competition from coffee creamer companies Coffee Mate and Bailey's.
Direct competition from Stoneyfield Farms and So Delicious. Indirect competition from Chobani and Fage.
I
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strengths.
weaknesses.
opportunities.
threats.
Commitment to sustainability.
Health benefits in all products.
Has well-established presences in national retailers.
Exclusive deal with Starbucks.
62% market share.
Easily navigable and user-friendly website.
Insufficient promotion.
Has not always been the first to introduce new products.
Losing market share to competitors.
Taste is not always preferred in blind tests.
Creation and development of new plant-based dairy-alternatives.
Creation of health-focused, socially responsible company culture.
Gain a new and loyal customer base.
Promotion through medical channels.
Notion that Silk is only for non-dairy drinkers.
Increased competition in the dairy-alternative field over the last 10 years.
Myths about soy benefits.
Possible threat of cannibalization within Dean Foods.
#1
#2
#3
#4
#5

Increase profits by 40% in 5 years.
Establish a brand "culture" that will attract a new and younger demographic.
Build and maintain customer loyalty.
Expand our line of dairy alternative products.
Make Silk a healthy household brand rather than just an alternative to milk.
MARKET INFORMATION REQUIREMENTS
top priority.
Collect and analyze information on our customers.
Conduct studies and surveys in order to understand the habits of our current customer base and target demographic.
Why choose Silk?
target demographic.
Main outlets of information.
Future plans.
Opinions on ice cream.
college educated women.
aged 18-34
Internet, television, and periodical habits.
Doctor interactions.
Information they receive.
Stress nutrition?
their future.
explore healthier lifestyles.
Raise a family.
Trust our brand to feed to their children.
?
RECOMMENDATION AND SEGMENTATION
recommendation.
Launch an extensive advertising campaign.
Focus on building a "culture" for the brand
Targeting a demographic that will remain loyal for years to come.
Promote Silk as a healthy and delicious drink for everyone, not just as an alternative for those who can not drink milk.
lactose intolerance & dairy allergies.
health conscious.
vegans.
taste enthusiasts.
product.
price.
place.
promotion.
Must continue to sell and market their strongest product, soymilk.
Love it guarantee.
Pursue new products: soy ice cream, SoyWhip
Pursue alternative beverages: PureHazelnut
Continue to grow their almond milk and coconut milk sector.
Base pricing on competition pricing by region.
Attempt penetrating prices that will create a competitive advantage.
Low price on new products.
Engage in push and pull promotion.
Extend the list of our distributors: Caribou Coffee and Panera.
Further increase media efforts and presence on Facebook and Twitter.
Throw contests offering valued prizes.
Silk recipe contest- "Silk for Life" prize.
Photography contest- cash prize.
Launch advertising campaign.
EXISTING ADS
Strength in Every Pour.
BILLBOARDS & DOCTORS
BILLBOARDS
DOCTORS/ HEALTH ADVISORS
Will feature several simple designs of cows drinking Silk.
Other billboards will feature checklists of the benefits of Silk over milk.
Strategically located for the maximum amount of exposure to the target demographic.
Less than 20% of Americans get their information on the health benefits of soy from doctors.
Work specifically with medical associations.
"TAKE A SIP FORWARD...
CELEBRITY INVOLVEMENT
to a healthy future."
Zooey Deschanel and Jennifer Hudson.
Partner with Weight Watchers.
"Silk Story"- relatable yet unique.
Underlying health emphasis.
Connect to the Silk website.
NEW PRODUCT AD
"Live a little, even they'll love you for it."
Who drinks soymilk?
Why do people drink soymilk?
Are consumers sensitive to price?
Where do you learn about the benefits of soy?
Soymilk is enjoyed by 46 million Americans of all ages and lifestyles.
54% - overall nutritional value.
43% - personal or health needs.
Consumers who have already bought soymilk and who regularly drink it are sensitive to price fluctuations.
47% - television.
44% - internet.
17% - medical professionals.
"Silk is healthy"
"Silk is for everyone"
Benefits:
Less calories
50% more calcium
Strong source of protein
NOT
The After-Dinner Dilemma
dairy desserts.
Silk soy ice cream.
Calories
Fat
No Lactose
No Trans Fat
Cholesterol Free
Silk Soy Ice Cream
PureHazelnut
SoyWhip
All Natural Soy
Take a pick of delicious flavors, all packed with Silk nutrition you can count on. Better yet...
try them all!
New Products
Increased Brand Promotion
TIMELINE
2012
2013
May 15:
Doctors
June 1:
Celebs
June 22:
"Take a Sip Forward"
July 1:
Billboards
July 4:
Soy Ice Cream
Summer:
SoyWhip
Fall:
PureHazelnut
Full transcript