Developing a Marketing Plan: PG Ice Tea
The current study presents the marketing plan for PG Ice Tea, a product of PG Tips brand of Unilever. Over the years, PG Tips has been successful in gaining acceptance among the various types of customers in the UK. The major characteristics of this brand comprise high quality, flavor, nutritional value and aids in digestion. In this study, environmental audit has been conducted to know the current status of tea market in the UK and demand for regular tea and ice tea. It has been found that the tea market is going down but there is potential demand for herbal, green and fruit tea. On the other hand, marketing strategy is outlined by discussing Segmentation, Targeting and Positioning (STP) strategy along marketing tactics and 7Ps. These strategies have helped in outlining the scenario which could be adopted by the company for creating a strong market for the PG Ice Tea in the UK. Further, Mintel and Keynote report have been used for proposing the future marketing customer segmentation strategy which could support in increasing the customer base. Also, a feasible system has been recommended for monitoring and controlling the action plan. In the later part in appendix, situational analysis is discussed using theoretical frameworks like PESTEL, Core Competencies, SWOT and Porter’s framework.
Marketing plan is usually related with the solid marketing strategy adopted by the organizations for attaining specific marketing objectives within a time frame (Luther, 2011). In this current study, a marketing plan would be developed for PG Ice Tea of brand PG Tips of Unilever which is a well-known multilateral firm that deals in number of products. In context to developing marketing plan, environment audit, marketing strategy, STP, marketing tactics and 7Ps would be evaluated so that a strong market could be created for PG Tips. Further, in the study, the marketing customer segmentation strategies would be proposed through synthesizing customer data and market insights. In the later part, systems for monitoring and controlling the proposed action plan would be recommended.
The introduction of PG Ice Tea has been suggested for developing marketing plan as there has been decline in the out of home consumptions of PG tea and increase in coffee consumption in the UK. The demand for fruit, herbal and green teas have become more popular in the UK among the people due to their health benefits. Moreover, the consumption of iced tea has increased (approximately 9%) over the past few years which indicates that the demand for iced tea would increase in increase. Therefore, creating a marketing plan of PG Ice Tea would help PG Tips to build its market in this segment and meeting the demand of the consumers seeking healthy and flavored iced tea.
Demand for regular tea drink has significantly gone down over the years in the UK but it falls behind the sales of coffee. It has been found that tea sales in the UK have dropped by 6% over past five years. The ordinary teabags’ sales have dropped to £425 million in 2014 from £491 million in 2012 due to rise in popularity of coffee consumption. However, the attractiveness of alternative teas such as Tetley and PG Tips has gone stronger with the time.
Developing a Marketing Plan: PG Ice Tea
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