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Introduction
It is a marketing plan for the Papaya juice. As we know, Papaya is a useful fruits for all class of people. The people of all over the world popularly accept it. I think if a company lunch a project for making juice from papaya, it will be more profitable for that company. In this marketing plan, we segment the target market and specially target the middle class. We analyze 4 Ps, competitors, consumer buying behavior etc. However, this is a proposed marketing plan that needs to be modified considering the firm policy and implication strategic limitations and market conditions.
Objectives
15% market share at initial stage Increase gross margin more than 10% at the end of the year Increase sales by 20% per year
Segmentation
Others 5% upper middle class 10% lower upper class25% middle class 60%
Following data taken from the market survey on the consumers that shows the consumer behavior of food products. However, it does not reflect the whole sceneries but it would be very much helpful to market the product.
The functions for what consumer buy frequently that means the attributes, which play strong role to the buying decision of a consumer is given below serially by their importance
Affordability
Influential advertisement
Market analysis
Competitor analysis
There are four main competitors in the market. These are
Pran Shezan 1. Mango juice Acme Akiz
Competitor analysis
We had a survey that shows that these competitors captured the whole market. There market share ratio is given bellow40 35 30 25 20 15 10 5 0 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 5th Qtr Akiz Pran Acme Shezan others
From above we know that our main competitors are mango or orange juice producer companies like Akij & Pran
The factors that prioritized to distributor are 3 Quality 4 Packaging & Advertisement.
The factors that prioritized to retailer are 1 Prize on sale. 2 Margin. 3 Credit facility. 4 Quality.
Availability of raw materials. It will reduce cost of good sold. Reasonable price. May earn maximum profit. All aged people might be our possible customers.
Its a new product. Huge market share is captured by competitors. Market position of mango juice is strong. We havent any experience.
More sales for reasonable price. Low cost, quality product. Variety of consumer testes. Variety products for different segments.
Foreign products. Competitors could also diversify their product. Our competitors are financially and technically strong. They have brand equity.
PRODUCT FEATURES
Specially made for the kids Enriched with Different shapes Testified by child Food and Nutrition Department of Bangladesh and BSTI Design of cans, containers and UHD packs Promotion to kids Promotion to retailers by commission Ensure international standard
PRODUCT FEATURES
Specially made for teenagers and youngs Enriched with Testified by Food and Nutrition Department of Bangladesh and BSTI Design of cans, containers and UHD packs Substitute suitable tasty drink Promotion to retailers by commission Ensure international standard
PRODUCT FEATURES
Specially made for aged old people Enriched with Substitution of other fruit juice Testified by Food and Nutrition Department of Bangladesh and BSTI Low percentage of sugar Design of cans, containers and UHD packs Promotion by free sampling and commission Ensure international standard
DISTRIBUTION
Set one channel member in each district. High commission for retailer and distributor. Credit facilities should be given to retailer. There must be prize for 10 top sellers in a year. Distribution should be effective. There must be an effective chain information management. Supervision system. Sales team should be smart and effective.
PRICE
Actual price should be consultation with finance department. It will depend on cost of the machineries, production capacities, cost of row materiel, middleman commission and company policy. Our main goal is to focus on the growth of first three years. Considering this matter, we will set up the price at least 30%-40% below than the available brands of national companies and foreign companies.
PROMOTION
Free sampling Advertising TV Campaign, magazinesnewspapers Personal selling Direct marketing F.M. Radio. Create brand as national brand.
Conclusion
It is a strategic marketing plan for the new product. Some parts of this plan is not possible to incorporate. In this plan such as costs and budgets, profit and loss account. But I think it will be profitable marketing plan for a company.