Marketing Plan for Wan Thai Food

Topics: Marketing, Singapore, Instant noodles Pages: 16 (5191 words) Published: August 22, 2012
LB5202: Marketing & Innovation




Executive summary
Our company, Wan Thai foods Industry Company limited is one of the leading manufacturers of the instant noodles in Thailand. We take great pride in knowing that products bearing the name “Yum Yum” will continue to play important and vital roles in food industry in Thailand. We have more than 30 years continuing proud success with “Yum Yum” the Thai real instant noodles. If you are talking about instant noodles, it must be “Yum Yum”. By choosing “Yum Yum”, you are sure to get great satisfaction because it has the great taste and the variety of flavors. The "Yum Yum" instant noodles brand has been familiar to customers in Thailand for many generations. However, when we are targeting to Singapore, it is important for “Wan Thai” to come out with specific targeting and product innovation. Therefore, we have to maintain our strength and try to improve our weakness for our product to be more attractive, cheaper and easier to recycle and more durable than usual. Most of the Tom Yum noodles are famous but other flavor are needed to be tastier and it should be more nutritious to be a market leader because we will face the strong competitor on the target market. We provide the different taste options for different consumer and expand the distribution network with 24 hours stores (7eleven and cheers) and we produce family package which includes 6 bags (e.g., chicken flavor, duck flavor, Kimchi flavor, shrimp flavor, beef flavor and vegetable flavor in 1 package). This is especially for the people who go out for picnic which can take the advantage of the existing brand and standing of the company. First we will briefly discuss about Situational analysis based on external and internal factors which will bring opportunities and threats for our product then we describe our aim and targeted market. After that, we explain the description of marketing strategies and implementation. Finally, evaluation and control program based on Auditing, Surveying and Contingency plan will be discussed. We confident that this marketing plan can fulfill the company focus on the future development of our product.

Table of Contents
Executive summary2
1. Situational Analysis/ Environmental scanning5
1.1 External analysis- PEST6
1.1.1 Political factor6
1.1.2 Economic factor6
1.1.3 Social-cultural factors7
1.1.4 Technological factors8
1.2 Competitor Analysis- Porter’s five forces9
2 SWOT analysis of Yum Yum10
2.1 Strength10
2.2 Weakness10
2.3 Opportunities11
2.4 Threats11
3 Marketing objectives and analysis11
3.1 Review of Marketing Objectives11
3.2 Performance Analysis12
3.3. Future Marketing Objectives13
4 Target market13
4.1 Identification13
4.1.1 Demographic13
4.1.2 Geographic13
4.1.3 Psychographic14
4.1.4. Product-usage characteristics14
4.2. Existing competitors in the selected target markets14
5. Marketing strategies15
5.1 Marketing mix15
5.1.1. Product strategies15
5.1.2. Pricing strategies16
5.1.3. Distribution strategies16
5.1.4. Promotion strategies16
6. Marketing implementation and control17
6.1 Financial control18
6.2 Evaluation and Monitoring procedures18
6.2.1 Auditing18
6.2.2 Surveying18
6.2.3 Contingency plan19
7. Conclusion19

1. Situational Analysis/ Environmental scanning
Wan Thai foods Industry Company Limited was established in 1971 and 1973 which started running the business with Japanese seasoning and food Ajinomoto in a joint venture. We have become one of the leading manufacturers of instant noodles in Thailand; marketing its products under the “Yum Yum” brand name. When we are targeting in local market Thailand, “Mama” and “Wai Wai”...
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