INCLUDEPICTURE http//ciklife.files.wordpress.com/2010/04/yellow_label_100s.png MERGEFORMATINET SIM-RMIT University Marketing Principles (MKTG1199) Practical Assignment Marketing Plan Done by Wong Shi Min / S3352219 Wong Yu Hao / S3352026 Ong Jian Wen Eugene / S3352264 Ang Si Min Joan / S3351825 See Toh Jia Hui / S3352382Table of Contents Executive Summary Introduction Situation Analysis Lipton - Company Profile Lipton Yellow Label Over the Rest Suppliers Intermediaries Sustainable Development Liptons Macro-environment Competitors Customer Environment (Demographics) Current/Potential Market Factors of purchase Socio-Cultural Economic Nature Technological SWOT Analysis of Lipton Objectives Marketing Objectives Perceptual Mapping Selection and Measuring of Target Markets Mktg Research Methodology Results Analysis Market Segmentation Target Market Strategy Strategic Marketing Mix Marketing Mix Strategy Product Product Features Product Life Cycle Mature Stage Comparison Market Positioning Improvisation Yellow Label Character Price Current Pricing Strategy Value proposition Price Adjustment Strategy Place (Distribution) Intensive Distribution Strategy Promotion Integrated Marketing Communication (IMC) Objectives of Promotional Strategies Advertising Sales Promotion Public Relations Promotional Details Implementation Evaluation Marketing Implementation Structural Issues Overall Approach to Strategy Tactical Marketing Action Plan Evaluation Control Meetings Departments in Control Valuing Customers Feedback Financial Analysis Costs Sales Forecast Conclusion Appendices References Executive Summary This report has identified that the well-known brand Lipton has potential room for improvement and will address issues and propose plans to help Lipton achieve greater marketing success. Lipton has over a hundred years of history and is the number one tea worldwide. It is owned by the multinational products corporation, Unilever. Lipton aim to meet the needs of people to lead a healthier lifestyle. The Yellow Label product line is chosen due to its long history. Lipton places high importance on Sustainable Agriculture. In Liptons macro-environment, competition is one of the largest external forces. Prices range are similar, except premium tea brand. Generation Y has been identified as a potential market. Most consumers pick Lipton because of the established brand, health benefits and accessibility. Socio-cultural factors and nature factors have huge impact on Lipton, especially since tea leaves are agriculture products. Technological advances have led to easy availability on information on products. After analyzing the environments, this report proposes 3 marketing objectives increase market share, increasing household expenditure on tea and promote a social responsible image to Generation Y, all within the intended promotional period of 1 year. Market Research was conducted and analyzed. Through market Segmentation, the target market of Generation Y (18-35 years old) has been identified and examined. In the marketing mix strategy, Yellow Label, in its maturity stage, will be spiced up with new design and packaging with respect to target market. The Product Form Segmented Pricing is used to position the new product. Distribution of the product will be extend to include drug stores and vending machines. In the Promotion mix, various advertising, sales promotions and public relation events are planned to guide the image and sales towards the desired result. Lastly, to implement, the full action plan is spelt out to minimize limitations and omission of details. Costs are being accurately calculated, which aids in producing the years sales forecast. It is thus predicted that the marketing plan will fetch an increasing sales for Lipton Yellow Label over the span of a year. It is concluded that the proposed marketing plan is sound in achieving the marketing objectives in bringing Lipton Yellow Label product to greater...
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