Marketing Plan for Yollies
The current report has discussed about the marketing plan for Kerry Food which is a well known brand in food and beverage industry. The main aim of this report is to outline the marketing plan for Yollies for next three years. It is a newly developed innovative product which offers Yoghurt on a stick. For constructing the plan, external analysis has been done by using PEST tool. It helped in understanding the external environment that can have impact on the Yollies. Further, micro analysis is conducted through analysing market, company, customer and competitor. From the analysis, it has been known that Yollies can be able to build its market and would contribute in increasing the sales performance and market share of the company. SWOT analysis helped in assessing the internal and external aspects of Yollies. It was found that government initiative of meal system can be one major threat for the product. The use of Ansoff Matrix entailed that the product can be launched in the established markets like UK and Ireland. These markets can ensure high success of Yollies and better return on investment. On the other hand, the use of marketing mix showed that the company may need to employ different promotional mix to attract more customers. In the later part of the report it has been suggested that investment to be made in marketing campaign for gaining higher future success.
1.0 Background and Introduction
Marketing strategy is all about combining the marketing objectives in one plan through market research and focusing on appropriate product mix. Developing a marketing strategy requires analysing internal and external environment for effectively marketing the product in the market (Dishman and Calof, 2008). In context to that, a case of Kerry Food has been considered which operates in food and beverage markets. The product portfolio of the company is Dairy &Savoury, Beverage, Cereal & Sweet and Nutrition (Kerrygroup, 2016). The company has produced a new product Yollies-yoghurt on a stick for kids and the company is planning to market the product in the UK. Therefore, the marketing plan for Yollies would be developed for the next three years by focusing on customer trends and market growth.
2.0 External Analysis– PEST Analysis
According to Cadle, Paul and Turner (2010), PEST analysis is effective for any organisations as it enables them to determine the implications of penetrating into new markets both globally and nationally. Also, it helps in exploiting and identifying the new opportunities (Ho, 2014).
2.1 Political Factors
1. Tax: Sugar tax needs to be considered by the company as to fight obesity, the WHO (World Health Organisation) stipulates a 20% tax on sugary drinks. It has been found that in the UK, more than 30000 people die every year due to obesity (Van Ansem et al. 2015). Therefore, sugar levels require to be taken in account as the main target market for Yollies are children. However, if the UK government increases the tax rate on sugar usage, then it can affect the production of Yollies. Thus, Kerry Food would have to use the sugar in a sustainable manner or other alternatives have to be drawn.
2. Consumer Protection Law: The Kerry Food is required to follow and abide by Consumer Protection Act, 1987 so that only quality product is supplied to the customers (Williams et al. 2015).
Marketing Plan for Yollies
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