Marketing Plan - 2194 Words

Introduction Fonterra is New Zealand’s largest multinational company which founded andheadquartered in Auckland, New Zealand which has almost 15,900 employees. Fonterracontain rich heritage of dairy expertise and passion. This comes from generations of producing quality dairy products enjoyed by consumers and consumers in more than 140countries. Today, it is the world’s leading exporter of dairy products and responsible for more than 1 third of international trade. The Fonterra are famous with their dairy productsuch as Anchor which is also known as Fernleaf which provide good nutrition for everyone , Anlene which is specially formulated for adult’s optimal bone health and alsoAnmum which is design to meet the needs of pregnant and†¦show more content†¦It enables the consumer to read before they purchase our product. For example, our product is approved by the MalaysiaHealth Ministry and a mark that shows that our product had passed the test. Price When we were decided to set our new product’s price, we had faced a problem.There are some company had produce same category product with us. So, we tried not toset a high price due to a few competitors. So, we had decided to set a price at RM 2.99 per bar and RM 15.99 per bulk. There are 6 bars in a bulk. This is because lower pricegenerally lead to higher sales volume. Although the BB BARis not expensive, but it stillcan help our company to gain profit. The price had support the organization’s operating,administrative and research and marketing cost like advertising and sales. The other reason we do not set a high price but pricing at the near market prices is we tried toreduce price wars in the industry and get the double win situation.We had to choose two types method for pricing BB BAR, price skimming and penetration pricing. Among these two methods, we had chosen the price skimmingmethod. We set an initial high price to cover our new product costs and generate a p rofit.Our initial price is about RM 2.59 per bar. The other one ringgit is to cover the operatingcost, research and marketing costs. Therefore, our new product price is still affordable for everyone and the consumer will be willingShow MoreRelatedA Marketing Plan For A New Marketing Strategy966 Words   |  4 Pagesthe governmental legal requirements and, on the other hand, defines the organization’s policy administration. For a triumphant marketing plan, understanding the government legal approaches allows for efficient operation and inter-relationship with other organization. Similarly, internal legal policies allow the company to uphold its operation in a set manner. 4.0: Marketing Audit A market audit process is a tool that can never be neglected despite the situation. However, very few companies carryRead MoreMarketing Plan For A Small Business2998 Words   |  12 Pagesin detail. †¢ The benefits of TQM when implementing the strategic plan to meet goals or increasing profit within a small business. †¢ The economy’s motivation of small businesses stability as compared to large businesses that are well established, also the financial assistance of other organization including the government. †¢ Different categories of a company and the importance of CRM to any size business. †¢ To compare the marketing plan of a small business and a large business where it reflects theRead MoreMarketing Plan827 Words   |  4 Pagesï » ¿Marketing Business Environment Marketing Planning: An Overview of Marketing 6 main questions to ask in order to create your marketing plan: 1. Where are we now? (Business Mission, Marketing audit, SWOT analysis) 2. How did we get here? (Business Mission, Marketing audit, SWOT analysis) 3. Where are we heading? 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A marketing process can be realized by the marketing mix, which is outlined in step 4. The last step in the process is the marketing controlling. The marketing plan can function from two points: strategy and tactics (P. Kotler, K.L. Keller). In most organizations, strategic planning is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look atRead MoreMarketing Planning : The Marketing Plan Essay1545 Words   |  7 PagesTo attract mixed segment ther is need to marketing planning is indeed the key to the whole marketing process. The marketing objectives state just where the company intends to be; at some specific time in the future. James Quinn succinctly defined objectives in general as: Goals state what is to be achieved and when results are to be accomplished, but they do not state how the results are to be achieved. They typically relate to what products will be where in what market. They are essentiallyRead MoreMarketing Plan For Subway Marketing1516 Words   |  7 PagesExecutive summary The marketing plan has close ties with the overall financial and business plan. This plan contents a strategy for success, and breaks it down into coherent, actionable components that will aid The Sub Shop to implement marketing activities to provide a firm return on investment. The following areas will help explain how the company plans to differentiate the business and product offering from the competition, and define the strategy that will drive its business forward. The aimRead MoreMarketing Plan1891 Words   |  8 Pagesa breakeven point in the second year after opening the store and become profitable in the third year of being in this business. In the first year, our profits will be low, due to low sales and high distribution, inventory, marketing and advertising and sales expenses. Marketing expenses will be very high in the first year. We have to inform the customers about this new product and get the consumers to try out this new concept. It will take â€Å"Just passin’ Thru† some time to build up the customer base