Develop a Strategic Marketing Plan Essay - 4950 Words

Develop a Strategic Marketing Plan (Term Paper Sample) Content: Push Marketing a+1Vitamin Water in NigeriaFirst Name, (Middle Name Initials), Last Name16th December 2014Contents TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc406756652"
1.0 Executive Summary  PAGEREF _Toc406756652 \h
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2.0 Introduction  PAGEREF _Toc406756653 \h
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3.0 Strategic Situation Analysis  PAGEREF _Toc406756654 \h
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3.1 Market Summary  PAGEREF _Toc406756655 \h
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4.0 Competitive Position of TCCC  PAGEREF _Toc406756656 \h
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4.1 Porter 5 Analysis  PAGEREF _Toc406756657 \h
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4.2 SWOT Analysis  PAGEREF _Toc406756658 \h
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4.3 Critical Issues  PAGEREF _Toc406756659 \h
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4.4 Historical Results  PAGEREF _Toc406756660 \h
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5.0 Appr opriateness of Segmentation, Targeting and Positioning  PAGEREF _Toc406756661 \h
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5.1 Marketing Strategy  PAGEREF _Toc406756662 \h
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5.2 Marketing Mission and Communication Theme  PAGEREF _Toc406756663 \h
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5.3 Marketing Objectives  PAGEREF _Toc406756664 \h
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5.4 Financial Objectives Forecast  PAGEREF _Toc406756665 \h
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5.5 Target Markets  PAGEREF _Toc406756666 \h
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5.6 Linking Expenses to Strategy and Tactics  PAGEREF _Toc406756667 \h
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5.7 Implementation Chart  PAGEREF _Toc406756668 \h
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5.8 Milestones / Expense Forecast  PAGEREF _Toc406756669 \h
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6.0 Background of the Firm  PAGEREF _Toc406756670 \h
171.0 Executive SummaryThe Coca Cola Company (TCCC) is the global leader in the manufacture and distribution of non-alcoholic beverages. At TCCC we pride ourselves in critically examining and thoroughly researching the most appropriate products for each of our 28 market regions in the world. One of our main strategic goals as TCCC is to maximize growth and profitability. Our efforts to accomplish this goal are based on: Transforming viable models that focus on the shareholders value potential and utilize a value-based segmentation approach to maximizing the industry potential.To put in place a multi-segmentation strategy targeting distinct clusters classified according to their competitive intensity, consumption, occasion and socioeconomic levels.To put into practice a well-planned product, pricing and packaging strategy that drives product innovation in our different product categories.Endeavor to attain the full operating potential of our commercial models that we use to drive operational efficiency. In light of t his, TCCC is looking at rolling out the a+1 Vitamin Water in Nigeria. This decision is partly informed by the huge gap in the market for this product, as well as, a response to our clients demand for this product. Moreover, Nigeria unlike many markets in the region enjoys a bigger market for bottled water in comparison to other non-alcoholic beverages like carbonated drinks, juices and dairies. 2.0 IntroductionSpearheaded by our Coca-Cola trademark, the priority of The Coca-Cola Company (TCCC) is to promote our portfolio of premium non-alcoholic beverage brands. In our commitment to meet the consumers beverage needs, our brands are carefully selected - each market with appropriate packaging - to leverage on TCCCs award winning global strategy of occasion-based brands, package, price and channel. Our focus for this marketing campaign focuses on three of our global strategies:Broadening the scale and geographical footprint of our business: by centralizing business services in low cost environments we can exploit flexibility of our portfolio to respond to market trends that offer our customers both value and a wide range of choice.To optimize business opportunities across all our market: by working closely with our current customers and optimizing our proven ability to win at the point of sale we position ourselves well to capture growth for the long term. Improving the efficiency of our production infrastructure: by continuing to optimize our route to market logistics informed by our strategic revenue-generating investments and tight controls.This year we intend to roll out the acclaimed a+1 Vitamin Water brand in West Africa, specifically in Nigeria and the neighboring countries. We will also look for additional leveraging by implementing an environmental project, a live a health life campaign and empowering women in Nigeria. 3.0 Strategic Situation Analysis3.1 Market SummaryOur market analysis investigates the external business environment and the internal dynamics of our operations. In the case of the former, there are many factors that contribute both to the threats and the opportunities of TCCC. Changes in the economy, demographic patterns of consumers, changes in attitude and values of the consumers are some of factors that TCCC monitors closely.As is has been reiterated over and over by George A. David, TCCCs chairman to board, the four strategic priorities for marketing our products are: cost leadership, customer preference, consumer relevance and community trust. As a result, our initiatives aim at gaining and maintaining our market share; first with the a+1 Vitamin Water and secondly with other existing sparkling beverages in our portfolio of products.In Nigeria, there is a very strong performance of bottled water. According to a research done by Euromonitor International, at least 50% of the population purchases bottled water on a daily basis. This can be attributed to the hot weathers conditions, compounded by a rampan t inability to access safe drinking water. Additionally, Nigerians are becoming more health conscious and prefer water to other non-alcoholic drinks, a trend that has led to government policies favoring safe bottled drinking water.Target Markets: EMBED MSGraph.Chart.8 \s 
3.1.1 Market DemographicsOur most important market segment in Nigeria is the non-alcoholic - ready-to-drink beverages - such as, carbonated drinks (Coca-Cola, Fanta, Sprite, Bitter Lemon, and Stoney Tangawizi), fruit drinks (Minute Maid) and water (Dasani). The consumers in Nigeria look upon TCCC to provide a wide array of drinks that satisfy diversity and changing trends in the market. Led by bottled water, all categories of drinks have enjoyed a growing popularity in the backdrop of major global events that highlight Coca-Cola most notably, the 2014 World Cup in Rio, Brazil. This improved performance was also the result of population growth with higher disposable income and the PET bottle packaging that appea ls to younger audience.TCCC relies on street vendors, small grocers and retailers to deliver our products to the customers. Supermarkets and hypermarkets are strategic in boosting bulk buying. The new trend of fast foods gone global which has seen the debuting of recognized franchise houses such as KFC, McDonalds, Subways and Dominos will also serve as an outlet for a+1 Vitamin Water and other TCCC products. Table: Market Analysis Potential CustomersGrowth20102011201220132014Carbonated Drinks12%22402506280031473524Fruit Drinks8%10801166125913601470Water27%5080645181931040513215Others5%525551578607638Vitamin Water------3.1.2 Market NeedsAt TCCC, we rely on high powered expertise and a variety of tools to gather information on our consumer preference. When embarking on our new product in this market, there was a need to evaluate our customer satisfaction, establish potential distribution patterns and develop channels. From the poin t of view of our comprehensive analysis, growth is expected in all categories of non-alcoholic drinks in our current portfolio. At the same time, there is a considerable shift in market trends. 3.1.3 Market TrendsWe stand to benefit from some specific market trends:Increase in population and disposable incomeGrowing awareness of the potential dangers of unregulated sugar intakeGrowing preference for non-cola drinksBoom in the fast food retail chainsPopularity and recognition of TCCC brands3.1.4 Market GrowthThe 2014 Euromonitor report on soft drinks in Nigeria indicates that all drinks in the non-alcoholic category will enjoy a much larger demand in 2015 in comparison to demand in 2010-2014. While people adjust to the new shopping-mall culture, the traditional outlets will continue to dominate as the primary point of sale for most of our products. Bottled water, on the other hand, is expected to lead in the category of soft drinks as more and more Nigerians drift into the culture o f healthier and better you. 3.1.5 CompetitionThe most significant competition to TCCC in Nigeria is CHI Nigeria Ltd which has outperformed us in the juice category. Another formidable competitor in the market is the La Casera Company Ltd which produces its own line of carbonated drinks that sells only in PET bottlers. Some of its products, including the new apple drink have received positive feedback in the market. Cway Food and Beverage Company Nigeria Ltd and Pepsi Cola are also big competitor in the Nigeria as they market their own and unique portfolio of carbonated drinks, leveraging them as better alternative to TCCC products. Competitors by Market Share EMBED MSGraph.Chart.8 \s 
4.0 Competitive Position...