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Transcript of Marketing Plan
II. Goals and Objectives
III. Target market
IV. Marketing Mix Strategies
Current Product/Brand Situation
Global demand for dairy is continuing to grow. In particular, population growth, rising incomes, urbanization and westernization of diets, in developing countries such as China and India, are leading to increased demand. Philippines is a huge market for milk and milk products with small dairy farming community that has been growing vigorously. Milk is rich in Protein and Calcium which help build the muscles you need to throw a ball or climb a tree. One 200 ml glass of milk provides a power-pack of nutrients a child needs daily. According to Dairy Industry Performance Report, the production of Milk in the Philippines continue to increase every year. Worldwide, dairy farms produce about 730 million tonnes of milk in 2011. India as the world’s largest consumer of milk may contribute to milk magic’s sales if milk magic products are exported to India
Milk Magic has many competitors all over the Philippines. Some of them are Selecta, Nestle and Magnolia. Our plan of approach is that we will make the quality of our product better and sell it at a low introductory price then gradually increase the price when the product reaches maturity.
• To increase brand awareness by putting up advertisements in all social networking sites and by organizing fun health-related activities.
• To reach a great number of customers, milk magic will expand its variety of products.
• To increase Milk Magic’s market share by at least 5-10% at the end of each year, to achieve price stability and profit as it goes at par with giant competitors such as Alaska, Nestle, Magnolia, and Selecta.
III. Target market:
Milk is suitable for all ages. Our target is every individual. We plan to make everyone recognize our product. We plan to make Milk Magic powdered milk for infants, school-age children, Generation X, Generation Y, Baby Boomers and Senior citizens.
“For the healthy-living and outgoing generation who crave for a delightful swirl of a creamy beverage without the additional fat, Milk Magic milk drink is made with 100% pure cow’s milk that not only fills your daily Calcium needs but is also fortified with Protein to strengthen our bones and help in the fast repairing of muscles WITHOUT the excess calories! It also comes with different flavors, you could choose from the plain old milk or twist it up with a touch of Chocolate or Strawberry and many more! Creamy, healthy goodness with muscle fortification benefits?Now THAT’s Milk Magic!”
We will be using intensive distribution intensity. We plan to make the new and improved Milk Magic available in all leading supermarkets, convenience stores, groceries and drugstores. We plan to establish free taste test booths at strategic locations such as milk product aisles in supermarkets, food courts, etc. to promote our product. Also, bar codes will be used as a technology enabler, for the proper inventory of product SKU’s.
Integrated Marketing Communication
- Since the price is cheaper, more buyers will want to try our product.
- Milk is a staple food,
- Wide range of target market
- Could be extended to be sold overseas.
- Cooperating with other food manufacturers.
- Can expand more to the market and make larger progress.
- Expand more our manufacturing capacity.
- Product has many uses and users.
As of January 1, 2013, the total dairy animal population was 39,069 heads. This was 6.90% higher than last year’s headcount. Dairy cattle stocks grew by 9.20%.
Milk Magic is low in fat but high in Calcium and Protein. It is made from cow's milk imported from Australia and satisfies the health conscious people. To ensure that milk magic will provide high calcium and protein, improvements in livestock and dairy technology.
- Giant competitors such as Alaska, Nestle, Magnolia, and Selecta.
- Low customer retention.
- Milk is perishable.
- The product does not have many patrons.
- Product could be innovated.
- Product could be sold as a raw material to cheese and other dairy product manufacturers.
The old packaging is not appealing enough to the eyes of the buyers that is why a new packaging will be launched, one that actually shows milk to serve as an identifier. The original packaging did not have much detail about the product except for the word “Milk” in “Milk Magic”. Most often, people tend to mistake it for either a pack of baking soda or detergent because of its appearance. This is why it is given a fresh, new look.
We will be using product line pricing in which we will set different price range for each product line, price bundling wherein products would be sold in sets for a single price and complementary pricing which would be in the form of introductory discount coupons.
Milk Magic aims to increase sales volume in terms of quantity, to increase monetary sales, to enhance the image of the firm and brand, to create interest and excitement about the product, to boost chances of survival of the product in the market and to obtain a target return on investment.
Price penetration strategy will be used to attract more customers. Milk Magic will re-launch a new pricing scheme, which is lower than its giant competitors but giving customers the quality that their money’s worth. Once customer loyalty is achieved, competitive pricing strategy will be used. Milk Magic will increase its product’s price to reach its target return on investment and finally, be at par with the leading milk manufacturers.
Milk Magic will tie up with Oreo for a sampling event. Oreo is one of the leading brands of cookies worldwide and this will greatly help in introducing our product to the public. Milk Magic will have an increased possibility to boost its sales. Milk Magic will also tie up with Accel Sports in sponsoring for a fitness program and give discount coupons to serve as participation tickets. This will provide Milk Magic with an opportunity to be recognized by milk-consuming athletes, fitness-oriented, health-conscious adults and other customers.
Milk Magic will be launching TV commercials, radio advertisements, banners and flyers to promote the product’s features and to captivate the attention of viewers in trying and eventually, buying our products. Also, Milk Magic will conduct a milk-feeding program for toddlers, teenagers, adults, senior citizens and people with bone-related disorders to establish customer relationships and gain their trust and loyalty. Internet ads such as banner ads, pop-up ads, webisodes and the use of social media will be used to achieve further recognition of consumers.
Rhodel Marlon Realica
Aubrey Mae Bonavente
Louie John Iguban