Selina

Report B
1.0 Background

A marketing plan is a comprehensive tool to help a business to review its own

product offerings in comparison with other rivals. Accordingly, in order to drive the
market's volatilities, Yeo Hiap Seng (YHS) needs to determine the changing Commented [G1]: Inserted: A m

perspectives. Furthermore, in term of place or distribution, rather than serving for the Commented [G5]: Deleted:M
domestic market, Yeo's has reached out the domestic boundaries to approach
developed and emerging markets from the US to Vietnam. Notably, the first mover is
such an effective marketing strategy to meet customer's demands as the modern
lifestyle needs Yeo's fast responding to changes. Moreover, as the sweet products
are more favored by the youth, the company should wave the new brand image to Commented [G2]: Inserted: the

emphasize the flexibility and dynamics via adopting technology to process Commented [G3]: Inserted: the
ingredients into beverages. Last but not least, in the way to provide seamless Commented [G4]: Inserted: the
customer experience, Yeos emphasize the close collaboration from the top to down
rather than working in different silos.

1.1 Vision
To be a market leading food & beverage company with a global reach

1.2 Mission
To provide our customers with high quality and best value products through the
constant pursuit of innovation and excellence

2.0 Writing a Marketing Plan

A marketing plan, on the other hand, is plump with meaning. It provides you with
several major benefits. Let's review them.

2.1 Purposes of a Marketing Plan

A marketing plan is a document developed by company leaders and marketing
professionals. This tool offers a guide for the marketing department to implement
steps necessary to align with stated marketing objectives and strategies. Typically,
companies develop a marketing plan every few years but review it periodically for
adjustments or changes based on company strategy. Commented [G6]: Inserted: g
Commented [G7]: Deleted:c

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2.2 Objectives
A major purpose of the marketing plan is to set the company on a specific course in
marketing. Goals of marketing generally align with broader company objectives. A
new company looking to grow, for instance, often has a marketing plan that
emphasizes strategies to increase customer base. A low penetration pricing strategy
is a common technique in this case. Gaining marketing share, increasing customer
awareness and building favorable attitudes are other common objectives. The
objectives element of a marketing plan helps companies ensure all marketing
investments have a target.

2.3 Budget
Marketing professionals often have to sell company leaders on the importance of
allocating significant resources to the marketing budget. In a thorough marketing
plan, you lay out the necessary budget and resources needed to complete the
objectives stated. The plan allows you to showcase what you intend to accomplish
with the budget, making it possible for executives to generally assess potential return
on the investment of marketing dollars.

3.0 Situation Analysis

The marketing environment refers to the internal and external influences that affect
the marketing function. The marketing environment is defined as follows.
A company's marketing environment consists of the factors and forces, external to
the marketing management function of the firm, that impinges on the marketing
management's ability to develop and maintain successful transactions with its target Commented [G8]: Inserted: s
customers. (Kotler, 2014)

Figure 1 Marketing Environment Framework

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Typically in a situation analysis, PESTEL and SWOT are involved.

3.1 PEST Analysis in Marketing

While PEST only takes external factors into account, it offers crucial contributions to
a companys marketing efforts (i.e. if we believe marketing to encompass virtually
everything that happens between the business and the customer).

For example, if you do not take social factors into account, you can lose sales, face
legal issues, and worse still, offend your customers. A case in point is Pepsi. When
the global brand opened shop in China, they used the Slogan Pepsi brings you back
to life which actually translated to Pepsi brings your ancestors back from the grave!

Not to mention, if you fail to use modern digital marketing techniques (such as
mobile optimization and whiteboard animation), you will lose a hefty part of your
clients to competitors.

In turn of Political Environment, Governance which is the level of corruption and the
independent judiciary system depend on the levels of intervention by the
government.In its PESTEL analysis, YHS ought to have a second thought when
entering China. Commented [G9]: Inserted: a

On the Economical the aspect, savings habit is the general saving levels of the Commented [G10]: Inserted: i
country will determine its investment potential. Countries like Japan where people
are thrifty have higher savings and therefore have higher levels of investment
potential. The savings habit in Sri Lanka is low due to the low disposable income
level and the levels of inflation. This will have an impact on the purchase of durable
and luxury goods for future development through investments.

However, the Singaporean government has opened a wide range of service markets
which drink industry included in. This results in higher competition in this sector in
particular. Yeo's is required to face and cope with not only domestic competitors but
also foreign ones. Commented [G11]: Inserted: the

3.2 SWOT analysis

Organizational auditing can be conducted through SWOT analysis including Yeos

strengths, weaknesses, opportunities and threats which can have effects on
marketing planning. Contextualising YHS, we have

Strength

Brand equity

Product innovation

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 Technological advance

Weakness

Competitors

Opportunities

Deregulation

Threats

Bad economics

Firstly, Yeo Hiap Seng becomes one of the most popular brands in Singapore. This
strong brand helps Yeo's close to their customer because of their customers' loyalty.
Moreover, this brand is always committed to product innovation with a variety of
health products thanks to advances in technology. The fact shows that Yeo's always
applies HACCP standards to ensure their products' quality. Therefore, their
customers' beliefs are growing with their increasing engagement in Yeo's products. Commented [G12]: Inserted: s
Commented [G13]: Inserted: s
4.0 Comparing with competitor Coca- Cola Commented [G14]: Inserted: are
Commented [G15]: Deleted:is
Coca-Cola

Coca-Cola is the leading provider of soft drinks in the world. In 2010, it not only had
the No. 1 selling soda with regular Coke, but its Diet Coke brand outpaced Pepsi for
second billing

Coke is it -- it being the #1 nonalcoholic beverage company, as well as one of the

world's most recognizable brands. The Coca-Cola Company is home to 20 billion-
dollar-brands, including four of the top five soft drinks: Coca-Cola, Diet Coke, Fanta,
and Sprite. Other top brands include Minute Maid , Powerade, and vitaminwater. All
told, the company owns or licenses and markets more than 500 beverage brands,
mainly sparkling drinks but also waters, juice drinks, energy and sports drinks, and
ready-to-drink teas and coffees. With the world's largest beverage distribution
system, The Coca-Cola Company reaches thirsty consumers in more than 200
countries.

Distribution

It sells its products in thousands of pop vending machines placed in businesses and
public buildings. The ease and convenience of getting to the product are important to
customer loyalty. Commented [G16]: Inserted: are
Commented [G17]: Deleted:is
Price

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A price-driven strategy, Coca-Cola's strong global brand allows for brief periods of
price drops.

Promotion

Coca-Cola invests billions of dollars a year in advertising and promotions around the
world to maintain its position of industry leadership against rival Pepsi. Pepsi
increased its TV ad budget by 30 percent in 2011 when it fell behind Diet Coke.
Coca-Cola spends a good portion of its ad budget on television advertising. It has
used polar bear characters and a message of nostalgia and tradition as part of its
branding over time. Magazine ads, online and social media have also been used as
media for Coca-Cola marketing. Sales promotions at the store are used to drive
revenue during slow periods.

Although, the above are one the 3Ps, but this is what is important to Coca-Cola as a
focused strategy. Commented [G18]: Inserted: ed strategy

5. 0 How YHS use its 7 PS to achieve Marketing Objective

7Ps are controllable variables that Marketing Manager has the ability to control to
edge the competitors (Souar1, Mahi2, & Ameur2, 2015). However, in the case of
YHS, the following Ps ought to be their focused areas.

Yeos goal is to become a leader in food and beverage industry in Singapore and
outreach to the world. In order to achieve this vision, Yeo Hiap Seng should
concentrate on making their careful marketing plan for their product. This brand
focuses on producing a sweet soft drink that many customers preferred not only in
Singapore but also in the foreign market including Malaysia, China, Cambodia and
Indonesia. However, each price is different in each market, which depends on
people's living standards. Target customers are young people, household consumers
and tourists who can directly buy their products in stores and distribution agents in
each country. Yeo Hiap Seng is intended to advertise their products on television in Commented [G19]: Inserted: the

primetime to capture the attention of family members and in public areas like a train Commented [G20]: Inserted: a
station, bus station to appeal to a variety of commuters and travelers every day. In Commented [G21]: Inserted: a
the process of planning marketing strategies, it is necessary for Yeo Hiap Seng to
control and monitor their resources and budget in order to make the implementation
effective. Commented [G22]: Inserted: effective
Commented [G23]: Inserted: e
When entering a new market or launching a new product, it is expected that the Commented [G24]: Inserted: ma
company should provide customers with lower price strategies and convenient Commented [G25]: Deleted:chec
distributions with good customer services. It is the fact that the price of a new Commented [G26]: Deleted: with
product or service should not be higher than the standard prices in the same market.
It is suggested that the company should increase their customers' values by offering
an affordable price that can compete with their rivals, can be suitable with the cost of
production and marketing as well as meet their customers' demands, giving some
discount and reward programs in order to raise their customers' excitement and
attention. Furthermore, in order to enable their customers to be convenient to

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approach the products, the company should make distribution channel diversified
including retail stores, online sales and wholesaler. If their customers directly go to
the stores, it is necessary to ensure that the stores are located in the convenient and Commented [G28]: Deleted:s

center places. If they buy the products on the internet, the company should have its
own transportation system to ensure a faster delivery as possible with the lower
operation cost. Last but not least, the company should have its emphasis on
products advertisement, online promotion, direct marketing and public relations in
order to capture the customers' attention and spread out the product's information
widely. Commented [G27]: Inserted: ve
Commented [G29]: Deleted:s
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5. 1 How factors affecting the effective implementation of the marketing plan

have been taken into account

As shown in the above analysis, a good marketing plan is utmost necessary for the
success of a new product. However, there are many factors that have impacts on the
effectiveness of the marketing plan. The factors significantly affecting the efficiency
implementation of the marketing plan are the geographical location, budget limitation
and illegality. Commented [G31]: Inserted: the
Commented [G32]: Inserted: wn in th
Firstly, each geographical location creates its own cultural environment and therefore Commented [G33]: Inserted: s
different competitive market with a specified price that marketing plan should carry Commented [G34]: Deleted:t
out. An appropriate marketing plan with specified price will be applied in matching Commented [G35]: Deleted:s
with the store location. Secondly, if the marketing plan is not totally supported due to
the shortage of budget, it is not easy to complete the most suitable market research
which can bring the best results to analyze because the fact shows that budget is a Commented [G36]: Inserted: the

crucial resource that mostly drives people to dare to carry out the hard marketing Commented [G37]: Inserted: a
plan which can bring the best result. Thirdly, if the local government does not enable
a marketing plan to be completed according to strict rules, this marketing plan can be Commented [G38]: Inserted: the

hardly completed without leading a legal action. Commented [G39]: Inserted: s

Commented [G40]: Inserted: l
The marketing plan must be controlled by evaluating its objectives in term of financial
aspects and goal attainment. Any variations must be corrected.

In sum, there is a significant difference between variables Marketing Strategies with

Customer Loyalty (Heryanto, 2011). Therefore, selecting appropriates marketing
strategy can be due to more sell.

(Word: 1936)

REFERENCES

Web Site

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http://www.professionalacademy.com/blogs-and-advice/marketing-theories---pestel-
analysis

http://yourbusiness.azcentral.com/marketing-mix-coca-cola-12969.html

Book

Kotler, (2014), Marketing, Free Press

Journal

SOUAR1* Youcef, MAHI2 Keltouma, AMEUR2 Imane (2015) Expert Journal of

Marketing, The Impact of Marketing Mix Elements on Customer Loyalty for an
Algerian Telecommunication Company ,Volume 3, Issue 1, pp.1-10, 2015 2015
The Authors. Published by Sprint Investify. ISSN 2344-6773
Marketing.ExpertJournals.com

Heryanto H. (2011). Effect of maketing strategy on customer Loyalty Bajapuik saving

at PT. BPR berok gunung pangilun Padang, International Journal of Lean Thinking,1,
1, 59- 87