Friday, July 19, 2019

Essay --

Introduction A marketing plan is a document which comprises of analysis of the current marketing situation, threats and opportunities of the firm, marketing objectives and strategy specified that has the 4 Ps, program of actions, and projected budget and income and other financial statements (Drummond, Ensor, & Ashford, 2008). The marketing plan consist of 3 main steps: 1) Planning Phase 2) Implementation Phase 3) Control Phase Figure: 3 Phases of Marketing Plan (Source: (Drummond, Ensor, & Ashford, 2008) ) A documented market plan helps in tracking the progress of the company or activity by providing a point of reference. While creating a new market plan around three end goals should be kept in mind. Having end goal in mind will help in efficient formulation of marketing Plan. Placing more goals will lead to dilution of efforts and shortage of resources for the company (Luke, 2013). Aim The report is creating a marketing plan for Tata global beverages limited to launch into Australian market with their new Green tea product. History Tata global beverage was set up as a joint venture between Tata Sons and the UK-based tea plantation company, James Finlay and Company in 1962. Tata Tea was born in 1983 after James Finlay sold his shareholding to Tata. The company set out on a path with global ambitions, evidenced by the acquisition of Tetley in 2000. This was followed by a string of strategic acquisitions including Good Earth, Jemca, Vitax, Eight O’ Clock Coffee and Himalayan Water (Tata Global Beverages, 2014). Source: (Tata Global Beverages, 2014). Following are different brands that come under Tata beverages: Source: (Tata Beverages, 2014) Tata Beverages has a wide variety of portfolio of products which ranges from dis... ...ers never asked for or thought were possible example Walkmans. Companies are trying to become more market driven and their major efforts go in retaining customers. Customer retention has become much more important than customer attraction because attracting new customer costs five times more than pleasing an existing one. (Kotler, Marketing Management Millenium Edition, 2002). Target Market The product will be targeting the following segment of population: 1) People from the age range of 15 to 35 both male and females. 2) Health conscious people preferably involved in regular work out. 3) People who are trying to switch to a healthier lifestyle and want to give up soft drinks. Competitor Analysis Competition is the most critical factor in marketing management and includes all of the actual and potential rival offerings and substitutes that a buyer might consider.

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