For a New Launched Drink in China
* Executive Summary
We are a company dealing with beverage business worldwide and we are going to explore new market in China. For this reason, we are going to make a marketing plan for a newly developed drink in the local market. The marketing plan is comprised by 5 parts. After giving brief introduction of the local market, we will make a SWOT analysis for our company to evaluate and predict the different situations the company may face in the new market. Afterwards, we will determine target customers and find out where we can get the maximum interest. Based on the customer targeting, we will see what value we can create for the customers. After that, we will go for details in terms of product, price, promotion and place. In each part, we will give details in terms of detailed planning strategies. Then we will give forecast for the financial income, followed by a conclusion for the marketing plan.
* Situation Analysis
We are a well known alcohol company, looking for prosperous markets worldwide. Now we’ve picked China as our target market for its great potential in imported wines. Now we are going to check the Chinese alcohol market before contemplating the marketing plans. Moreover, we need to point out that, in Chinese market, our products would be typical imported wines. The Chinese alcohol market is comprised by wines of different kinds, like Chinese distillate spirits, beer, port wine (imported wine), fruit wine and so on. Chinese distillate spirit has the longest history in China and it exerts the greatest influences. The beer and the port wine are imported from other countries, but they are spreading widely in the recently years. The fruit wine has a relatively small market. The Chinese wine market can be illustrated by the below pictures. As shown in the picture, we divided the wine market into purchasing terminal and drinking terminal. The purchasing terminal refers to the community retail, shopping mall and supermarket and so on while the drinking terminal refers to the catering and the night club.
* SWOT Analysis of the Product
Before making marketing plan, we would carry out an analysis of SWOT to have a comprehensive view on the strength, weaknesses, opportunities and treats of our products.
Since we are running a multi-national business which has mature management and operations, our strength would be about the advantages of our brand, good business credit and progressive company culture. Moreover, we have stronger ability in financing compared with our rivals. The high standard production equipment and technology also help us to gain advantages in the new market.
When working in the global commercial environment, knowledge of the impact of cultural differences is one of the most important factor to international business success. Regardless of the sector in which you operate – finance, technology, or computers and consumer electronics –global cultural differences will directly impact on you and the profitability of your business. Improving levels of cultural awareness can help companies build international competencies and enable individuals to become more globally sensitive. (Atkinson, 2008) The possible weakness our company would face in the new market would be that, we would encounter cultural gap in a foreign country. Moreover, in order to realize the localization, we need to cost much more to establish a new brand to integrate into the local market.
Although in the Chinese beverage market there are already competitions and many big companies, there’s still a trend of growing customer groups and further market segmentation. Nowadays, the global market is recovering after the recession, and the consumption ability of Chinese market would grow, based on...