The document presents a marketing strategy and management plan for launching a flavored milk called "Milkyway" in Pakistan. Key aspects of the plan include segmenting the market by age, gender, occupation, education and social class. The main target segments are kids, young people and students. The marketing mix includes pricing the 250ml packs at Rs. 20 each and promoting through TV, print media, billboards and social media with a total proposed advertising budget of over Rs. 9 crore. Competitors in the flavored milk space are also analyzed.
The document presents a marketing strategy and management plan for launching a flavored milk called "Milkyway" in Pakistan. Key aspects of the plan include segmenting the market by age, gender, occupation, education and social class. The main target segments are kids, young people and students. The marketing mix includes pricing the 250ml packs at Rs. 20 each and promoting through TV, print media, billboards and social media with a total proposed advertising budget of over Rs. 9 crore. Competitors in the flavored milk space are also analyzed.
The document presents a marketing strategy and management plan for launching a flavored milk called "Milkyway" in Pakistan. Key aspects of the plan include segmenting the market by age, gender, occupation, education and social class. The main target segments are kids, young people and students. The marketing mix includes pricing the 250ml packs at Rs. 20 each and promoting through TV, print media, billboards and social media with a total proposed advertising budget of over Rs. 9 crore. Competitors in the flavored milk space are also analyzed.
Submitted by: Names Registration No. Abdul Manan L1S14MBAM0109 M.Zubair Munazar L1S14MBAM1075 Yasir Asad L1S14MBAM1076 M. Zubair Saeed L1S14MBAM1077
Submitted To: Asif Shahzad
Date: 16/06/2014 INTRODUCTION
Adam Dairy Ltd is launching a FLAVOURED MILK in the market named as "Milky way FLAVOURED MILK"
Brand Name:
"MILKYWAY"
Slogan:
"Sehat bhi aur Maza bhi"
Purpose:
The purpose of launching the flavored milk is to give a new taste to the people who are using almost every milk product available in the market. We want to provide a fresh and tasteful milk to the people so that they become healthy.
MARKETING MIX:
1. Product:
Size: On the basis of product sizes of competitors and information gained from survey, we have decided to introduce our product in the market in following size:
250 ml
Color: As far as the colors are concerned, most of the people have showed their interest in bright colors without naming particular color, but majority has agreed on the following colors to be the part of labeling product: Orange Red White Green
Packing: Product units are packed in a 6-layered Tetra Pack Aseptic Packaging.
Every marketing activity including pricing should be directed towards a goal. Thus on should decide on its pricing objectives before determining the price itself. We have decided to enter in the market by focusing on sales oriented objectives and demand our strategy accordingly. In accordance to our strategy we have decided to offer the product to customers at the price of Rs.20 for 250 ml The price is very much compatible and the offer is substantial enough to attract a large percentage of market in a very quick time. 3. Place: We have decided to place the product in urban and rural areas of Pakistan, but we are more focused in urban areas. We have also decided to place the product in the canteens of all the famous schools, colleges of Pakistan. We have acquired the services of large and organized distribution network of Pakistan. 4. Promotion: Effective promotion touches the way for the product's success. There are many different ways through which we can promote our product. We have planned a very wide promotion strategy that covers almost every part of the society. We have also paid serious attention to the duration of intensive promotion in the initial stage. We have supported our promotional strategy with the use of electronic media, print media, internet and other sources and also with the help of some schemes such as lucky draws. Our promotion strategy in details is as follows:
Television Channels: o Duniya News o Hum Tv o Cartoon Network o Urdu 1 TV
Cable Ads
Newspapers: o Dawn o Express o Jang
Magazines o Akhbaar-e-Jahan o Family
Pamphlets Banners Billboards Internet
Key Features:
Following are the key features of our product
Excellent in taste Give freshness Beneficial for bones Provides vitamins and calcium
Benefits:
Following are the additional benefits which are offered to the customers to give them value:
Purchase ten Milky Way FLAVOURED MILK packs and get one free pack
If you purchase a small carton of milk then you will able to participate in lucky draw and you can win following prizes
o LED Tv o DVD Player o Cash Rs. 50000 o Samsung s5 MARKETING STRATEGY
SEGMENTATION: The market consists of many types of customers, people, products, wants and needs. We made the market segments on the following basis: Age 4 to 15 years 16 to 30 years Gender Male Female Occupation Students Employed Education School Going College/University Going Social Class Upper Class Middle Class Lower Class TARGETING: After making market segmentation now we evaluate can evaluate their market segment's attractiveness and selecting one or more segments to enter. We will target the following customers: Kids Young Boys and Girls Students of College and Universities Who wants a new and refreshing taste
DIFFERENTIATION: We will make our products differentiate by others on the basis of following thinks Comparatively less price New & Refreshing Taste Effective Distribution Attractive Packaging Variety of flavors
POSITIONING STATEMENT "The ultimate perfect diet"
COMPETITORS The market of flavored milk in Pakistan has currently have number of companies to serve like Pakola flavored milk by Mehran Bottlers (Pvt) Ltd, Owsum by Engro Food Limited and OOLALA by Shakarganj Food Products Limited .The growing potential of the flavored milk market has attracted a number of companies into this market with many small scale manufacturers functioning along with others in the organized large scale sector. Market Leader: Now days Owsum by Engro Food Limited (Olpers) is the most popular brand in the flavored milk segment and is undoubtedly the market leader in this segment, it presently holds the maximum of the market share.
Market Followers: As of now there are two followers present in the flavored milk segment. One is OOLALA by Shakarganj Food Products Limited (Good Milk) and other one is Pakola flavored milk by Mehran Bottlers (Pvt) Ltd,
SWOT ANALYSIS
Strength Good relationship with suppliers Lower price Easy Availability 99.07 purity
Weakness Low Brand Image Limited Distribution Unattractive packaging
Opportunity Growing Market Changing Lifestyle Rising income of People
Threat Law and Order Inflation rate rises from 8.34 to 9.68% Intense Competition Price War
COMPETITOR'S STRATEGY Our competitors have a good market share because they are adapting following strategies: Less Price Effective Promotion Intensive Distribution Quality Products Customers Research Attractive Packaging
We have to compete with these strategies and have to make better strategies than our competitors to survive in the market For advertisements on Electronic media This is how we advertise our product and when to boost our product sales Duniy a News Timing s Pricin g Basis of selection Days to run Time to run per day Total cost per day Total cost for campaig n 5pm to 7 pm 15,00 0 per 30 sec Maximu m viewers hip Mon to fri (3 month s) 4 times in one hour 1,20,000 72,00,000 11 to 12 p.m 50,00 0 per 30 sec Maximu m viewers hip Fri to sun (3 month s) 4 times in one hour 2,00,000 72,00,000 Hum T.V 8 to 9 p.m 1,00, 000 per 30 sec Maximu m viewers hip of dramas in this slot Sat and sun 3 times during ad 3,00,000 72,00,000 Cartoon Network 5:15 to 6 pm 75,00 0 per 30 sec Tom and jerry Mon to fri 3 times 2,25,000 1,35,00,000 7 to 7:30 p.m 75,00 0 per 30 sec Tom and jerry Mon to fri 2 times 1,50,000 90,00,000 Total 4,41,00,000
For Advertisement On Radio & Its Budgeting Station Rate / 25 min Sponsorship
Program Lahore 9,000 (rs.) * 7 times * 30 ( days) 18,90,000 Karachi 10,800 (rs.) * 5 times * 30 (days) 16,20,000 Islamabad 8,500 (rs.) * 5 times * 30 ( days) 12,75,000 Total 47,85,000
Print media advertisement & budget Name Position Size Rate per week Rate per month Dawn Centre spread Full page color 10,00,000 40,00,000 Jung Sunday Magazine Inside front Full page color 64750 2,59,000 Total 4259000
For Advertisement outdoor & Budget Billboards Streamers 6oo poles 2 streamers per pole For 2 weeks Streamers Budgeting
Per pole front and back 2400 (in Rs.) Poles 100 Duration 7 days ___________________________________________________________ Total 16,80,000 ___________________________________________________________ In 5 Cities 84,00,000
Social Media Advertisement & budget Advertisement through Facebook and twitter Budgeting Per day advertisement cost = 50,000 40 days advertisement cost (40 * 50,000) =20,00,000
Total Budget for advertisement of the product Outdoor Media Total expenses for Outdoor campaign in Pakistan 3,87,59,000 Social Media Total expenses for social media campaign in Pakistan 20,00,000 Electronic media Total expenses for social media campaign in Pakistan 4,88,85,000 Print Media Total expenses for print media campaign in Pakistan 42,59,000 Total 9,39,03,000
Recommendations: Design an effective marketing communication strategy with one or more marketing communication components. Advertise the product to reach a large audience through mass market or target market appeals. Personal selling enables a company to communicate product benefits directly to the customer. Company can also used the Direct marketing permits a business to reach customers without a third party medium; examples include catalogs and direct mail. Develop and socialise a global marketing plan early (seek feedback). Understand local market needs and develop a collaborative approach.