1. 1.
Company:
“Wings and Capes” as a part of the food and beverage industry will produce beverages and
drinks.
Branding strategy:
A unique and distinctive image will be created in the minds of consumers so that the products
may appear attractive and appealing enough for them while they have a lot of already
available better options in the market.
Brand Name:
The name of the brand will be “Wings and Capes”.
Slogan:
As the brand name implies the slogan is “refreshment is in the air”.
Pricing strategy:
The pricing strategy of the company will be kept customer oriented because of the presence
of potential competitors in the industry. In order cater to the needs of people and earn profits
for the company as well the company will offer affordable prices that will vary according to
the sizes of the products. It will be made sure that discount rates are also offered on special
occasions.
Distribution strategy:
2. The products will be produced, bottled and can by the company and then will be sold to
wholesalers who can then further sell them to retail outlets such as restaurants, stores, shops
at petrol stations etc.
2.
Competitors:
Inter-Brand Competitors:
Its inter-brand competitors are Coca Cola, PepsiCo, Nestle, Sting, Redbull and Kraft Foods.
Whereas its intra-brand competitors are all the well-known restaurants, cafeterias, grocery
and general stores that can serve as retail outlets for its products such as McDonalds, KFC,
and Pizza Hut etc.
Major strengths and weaknesses:
All these competitors are the owners of stable businesses and have strong base lines of
customers thus people love buying their products which results in ensuring profitability and
productivity for them. On the other hand people are increasingly becoming health and
hygiene conscious day by day therefore certain health issues were raised by them regarding
their products.
Differentiation strategy:
The closest competitors of the company are PepsiCo and Coca Cola therefore in order to
make its products distinctive and unique it will be made sure that products are manufactured
while keeping in mind the health and hygiene factors. Moreover details regarding nutritional
facts and ingredients will be provided on the packaging of the drinks. Furthermore the
company will facilitate the customers by giving them an offer to “make their own drink”.
3. This offer will give the facility to the customers to decide what sort of ingredients they want
in their drink or for instance how much quantity of caffeine they want in their carbonated
beverage.
Leader or follower:
The company will definitely want to be a leader but in the beginning as there are already
some potential competitors in the industry that have established global businesses. Therefore
in order to achieve economies of scale, ensure profitability and productivity and attract and
retain a potential base line of customers at the same time the company will in the beginning
be a follower and then gradually advance towards becoming a leader.
Macro-environmental issues:
Political:
The stability of political conditions and formulation of laws regarding patents, copyrights and
taxes etc. of a region, where the business is operating, is very important.
Economic:
The employment conditions, pricing policies and rates of per-capita income, aggregate
demand and taxes are some of the economic factors that need to be considered while
designing a marketing strategy for a particular region.
Social:
Nowadays media is the major source of creating inspirations for people. Therefore in order
to attract potential customers it will be necessary to design effective and efficient promotional
strategies.
Technological:
4. The company will have to keep pace with day to day technological advancements and
techniques to bring more improvements in the quality of products.
Marketing research tools:
In order to conduct a marketing research primary data was collected and analysed through the
following tools:
Questionnaire
Interview
Open ended interviews were conducted in educational institutions and retail outlets, regarding
what attracts the most about carbonated beverages and what are the attributes that people seek
for the most in them. Questionnaires were also filled by them. Thus data was gathered from
them regarding the qualities they want in a carbonated beverage.
Whereas the secondary data was gathered via the following:
Net sites
Magazines and newspapers
TV advertisements
3.
Timetable for strategy implementation:
Activities Responsible Party Time:
Approaching efficient advertising agencies and
organizing a competent team for the execution of
promotional activities
Executives
Marketing
Finance
HRM
July 2014
Training of the team and selection of an advertising
agency and planning, creating, producing and selecting
HRM
Finance
Aug 2014
5. media with it Marketing
Executing advertisements and conducting promotional
campaigns
Marketing
Finance
Oct 2014
Monitoring and scrutinizing response of general public Marketing Nov 2014
Making alterations and further improvements Marketing
Finance
Dec 2014
4.
Expansion plan:
The company’s mission is to make a stabilized corporate position globally, make long term
relationships with a strong base line of customers by giving them healthy and hygienic
products and achieve economies of scale. However in the beginning it will start as a follower
in the industry and gradually rise as a leader. Thus in the next five years it will open at least
ten retail and wholesale outlets. In the next five years its brand will be introduced
internationally and thus it will form profitable and long term relationships with people all
over the world. Thus we will target new market actually new markets all over the world. The
company will become more technology friendly and thus the company will be using all sorts
of new technologies at par with its competitors.
5.
6. Social media tools:
YouTube:
One of the social media tools that the company will use will be YouTube. Any attention-
grabbing content created and uploaded in the form of videos can serve as a source of
promotion of the products globally as it is one of the most accessed sites by people all over
the world. It can create a visual association with people globally and can thus result into
positive awareness of products among people. Moreover the videos of presentations, market
research via interviews and conferences of the company can also be uploaded.
Facebook:
Another social media tool that will be used by the company will be Facebook. As an
entrepreneur it will be wise for the company to make low cost promotions in the beginning
therefore Facebook can serve as a low cost social media tool. It provides the facilities to
make one’s own personal pages therefore the company can make a page of its brand and
upload up to date information regarding qualities, attributes, variety, pricing and other such
factors of the products. It gives the opportunity to make direct contacts with potential
consumers.
6.
Performance standards:
It will be made sure that the conditions of operating are excellent and no kind of inadequacy,
wastage or breakdown occurs. It will be seen that there is not any kind of spoilage while
carrying out the operational activities and efficiency and effectiveness is achieved. All the
7. new products that will be offered to the general public will be scrutinized on a quarterly basis
in order to regulate its profitability.
Another standard that can be used by the company is the attainable standard according to
which a standard sum of work will be carried out and there will be a space for wastage or
spoilage.
Monitory methods:
Advertising:
Either quantitative or qualitative research method will be used while using monitoring
method of advertising. The former one can prove more accurate and give more adequate
results however it can be very time consuming and expensive as well. On the contrary the
latter research method is not that expensive and focuses majorly on ideas, attitudes and
opinions.
Promotion:
The techniques of monitoring method of promotion will be used to audit or monitor the
activity level as a whole. In-store audits can be performed, telephone research can be
conducted to monitor direct marketing and the impact of direct mails can be monitored via
sample mailings.
Financial controls:
The total allocated budget will be broken down into three parts. Twenty percent of the budget
will be allocated for billing purposes, thirty percent for market research and customer survey
purposes and fifty percent for the developmental activities of the business.
8. Every particular project team will provide a detailed report comprising on financial expenses
which will include both direct and indirect expenses according to the standardized form of
report that is provided to them.
7.
Potential of company’s overall performance in relation to marketing plan:
The company is able to carry out the marketing strategies accurately and effectively. The
personnel of the company are highly trained and training workshops, seminars and
conferences were organized and conducted in order to professionally train them. Standardized
financial records and reports of cash flows, sales, market share and expenses are prepared on
a daily basis and are electronically maintained. Moreover the manufacturing department is
consistently monitored in order to make sure that the quality of the products is kept into
account while making them so that the needs of the people regarding healthy and hygienic
products can be fulfilled. The employees are motivated intrinsically and extrinsically in order
to make them feel that they are valued and provided with a healthy working environment. As
a result they will work with more dedication and spirit and thus improve the overall
performance of the company.
8.
Integrated marketing communications:
Horizontal integration, internal integration and external integration will assist in
strengthening the integrated marketing communications. The first one will occur along all
business functions and thus all the departments will work together including marketing,
finance, distribution and Human Resource Management. The second one will make sure that
9. the entire personnel of the company is made aware with all sorts of new innovations, ideas,
developmental plans or advertising strategies. The last one will make sure that those
advertising agencies the company will approach and select work together with the company
to promote its products and carry out the advertising and marketing objectives.