...A marketing plan for TWG Tea to enter China market Table of contents Executive Summary 3 1.0 Introduction 4 1.1 Product background 4 1.2 Company background 4 1.3 Country background 4 2.0 Business Evnrionment 5 2.1 PESTEL analysis 5 2.2 SWOT analysis 6 2.3 Market analysis 8 3.0 Marketing strategy 8 3.1 Objectives 8 3.2 Target market 8 3.3 Positioning 8 3.4 Marketing mix 8 3.4.1 Product 9 3.4.2 Price 9 3.4.3 Place 10 3.4.4 Promotion 10 4.0 Implement and control 11 4.1 Implement 11 5.2 Control and evaluation 12 5.0 Conclusion 12 6.0 Reference 14 Executive Summary This marketing plans aims to help TWG Tea, a well-known tea brand operating in Singapore, to enter tea market in China. Through using PESTEL and SWOT analysis models, it finds that China is a high potential market for TWG to earn new growth. However, fierce competition and poor advertising performance of TWG and other limitations all can be big barriers to the entry of the brand. Considering the strong demand and satisfied purchasing capacity, TWG can target upper income groups who have strong beliefs in the health effects of tea to make greater sales. 1.0 Introduction 1.1 Product background TWG Tea is a premium and luxury team brand provided by The Wellness Group. As a well-known tea brand in the international world, this brand provides...
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...Executive summary TWG Tea is an internationally recognized luxury tea brand established in Singapore and targeted toward affluent consumers. Australia is identified as offering strong future growth opportunities for the brand. Australia’s tea-drinking culture is already well established due to their former colonial ties with Britain. High disposable income has lead to luxury items becoming accessible to a large share of the Australian population. Competition within the teashop market also remains relatively low, with no competition currently existing within the luxury market. It is therefore recommended that TWG Tea use a contingency approach to enter the Australian market, making minor adaptations to their product offerings and standardizing other elements of their marketing mix, positioning strategy and target market. It is also recommended that TWG Tea use a push strategy, including personal selling and sales promotions, to help build brand awareness and relationships with their target market. Finally, it is suggested that TWG Tea enter using foreign direct investment, establishing a single store within a densely populated area with high disposable income, such as Sydney. Contents 1.0 Company background…………………………………………………….. 4 2.0 Marketing Mix………………………………………………………………. 5 2.1 Positioning…………………………………………………………………… 5 2.2 Target market………………………………………………………………... 5 2.3 Marketing mix………………………………………………………………... 5 3.0 Australian marketplace……………………………………………………...
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...DISCLAIMER The information contained in this report is given in good faith and was derived from sources believed to be reliable and accurate. The report was prepared by students as a required component of their academic assessment. The reader should not act on the basis of any information or recommendations contained in the report without seeking specific advice from the firm's professional advisers. While due care has been taken in the preparation of this document, Murdoch University together with its academic supervisors and students accepts no responsibility for errors or omissions, nor do they guarantee its accuracy. OFFICE USE ONLY Submission date OFFICE USE ONLY Submission date ASSIGNMENT COVER SHEET (INDIVIDUAL OR GROUP) Please complete and attach this form to your assignment. All assignments must be submitted to lecturer on the stipulated submission date. Name | LIANG TIANSHU JOEL, GOH WEI SIONG, LEE WEI TECK BRANDON, CHENSON ANG, LIM MING YAO | | Unit Code | BUS323 | Unit Name | INTERNATIONAL MANAGEMENT | Class Code | PT-BUS323D | Local Lecturer’s name | DR. JUERGEN RUDOLPH | Assignment No. (i.e. 1,2,3) or ‘short answer’ | MAJOR PROJECT | Your assignment should meet the following requirements. Please confirm this by ticking the boxes before submitting your assignment √ My assignment is double-spaced and clearly legible √ My assignment is written on one side of page only √ I have provided a wide margin...
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...Science vs. Art Marketing Similarities and Differences of Analytics and Creativity in Marketing A common misconception about marketing amongst those who are unfamiliar with the field is that marketing is simplistic and its value not as necessary as “hard skill” fields such as finance and accounting. However marketing is the key to optimum success in that a carefully concocted balance between creativity and analytics are necessary for brand recognition and profit. It involves science marketing, which involves predominantly market research, focus group studies, and data analysis, along with art marketing, focusing on creative strategy and branding. Although it may appear these focal areas of marketing are from opposite ends of the spectrum, they share several similarities and depend on each other to thrive. According to BusinessDictionary.com, scientific marketing is the “application of analytical testing and statistical methods in gathering and interpreting market information”. It is the understanding of society’s demand through predominantly scientific testing and reasoning. Scientific marketing requires fluency in statistics and figuring out consumer behavior through demographics and numbers derived from data mining from digital outlets and marketing information systems, focus groups, referring to rivals, experimental research, and tapping into marketing partner expertise. The market research process involves defining the problem and researching objectives, developing...
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...consumers while at the same time, they market their products at a lower price. Competitors also introduce different products to attract broader group of consumers. For instance, OTO diversified their products by offering fitness purpose machine such as OTO Track Blazer, a home use treadmill to access new group of consumers (OTO wellness Pte Ltd, 2015). SWOT Analysis By applying SWOT analysis model, we can study OSIM external issues such as potential opportunities and threats and analyse internal issues by identifying its strengths and weaknesses. Besides, it assists firm to achieve its desired results. (Feist, Heely, Lu, & Nersesian, 1999). Strengths | Weaknesses | * Strong brand name * Award winning design * Good marketing strategy * Products characteristics * Supply power | * Depend on economy situation * Political situation * Limited access to international market * Business mistaken decision * Consumer preference | Opportunities | Threats | * Public’s growing health conscious...
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...www.ccsenet.org/ijms International Journal of Marketing Studies Vol. 3, No. 2; May 2011 The Influence of Brand Loyalty on Cosmetics Buying Behavior of UAE Female Consumers Dr. Hamza Salim Khraim Marketing Department, Faculty of Business Middle East University, Amman, Jordan E-mail: hkhraim@meu.edu.jo Received: January 24, 2011 Abstract The worldwide annual expenditures for cosmetics is estimated at U.S. $18 billion, and many players in the field are competing aggressively to capture more and more markets. The purpose of this article is to investigate the influence of brand loyalty on cosmetics buying behavior of female consumers in the Emirate of Abu Dhabi in the UAE. The seven factors of brand loyalty are brand name, product quality, price, design, promotion, service quality and store environment. Questionnaires were distributed and self-administered to 382 respondents. Descriptive analysis, one-way ANOVA and Pearson Correlation were used in this study. The findings of this study indicated that brand name has shown strong correlation with brand loyalty. The research results showed that there is positive and significant relationship between factors of brand loyalty (brand name, product quality, price, design, promotion, service quality and store environment) with cosmetics brand loyalty. Keywords: Female buying behavior, Brand loyalty, Cosmetics, UAE 1. Introduction The history of cosmetics spans at least 6,000 years of human history, and almost every society on earth...
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...Ta’Kita Boykin REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. U.S. Economy How does the current U.S. economy affect REI retail operations? 1. If the economy was in a depression, people would begin saving money and limiting their spending habits, which in turns results in a decrease in online/in-store purchases for REI because the value of their goods/products would have to increase. There will less buying for some goods and supplies which decrease the company’s sales and revenue. 2. Employees within the companies would lose jobs (turnovers) or employees making less money. Global Economy How does the current global economy affect REI retail operations? 1. If some products or goods were bought or traded from another country and the currency values were increase, REI would have to purchase these items at a higher price also and the scope of REI’s prices would decrease because customers would realize that the prices for what they want are too expensive and not want to buy them. 2. Fair Labor. REI has joined with other associations such as Outdoor Industry Association (OIA) and Fair Factories Clearinghouse (FFC) to crack down and ban fair labor violations. Legal and Regulatory Environment What types of legal and regulatory forces affect REI in the U.S.? 1. Consumer privacy. By REI customer’s using their social security numbers, credit cards, checks, and debit cards to make purchases...
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...KUTCHEN March 24, 2013 MARKETING ANALYSIS REPORT BY: BRIDGETT BLUNT EXECUTIVE SUMMARY Lortex Lutchen is the first company in the United States to ever create a comfortable toilet seat with state-of-the-art features, called Flush Max 1250. This product was created for consumers seeking a piece of mind in their private time. “Our mission is to provide the best in customized toilets, while integrating the latest in technology, to deliver quality and satisfaction to all our consumers. We are committed to the performance and consumer experience of Flush Max 1240 MARKETING MIX Setting a team of members to do a specific job as follows: • One would be responsible for external and internal environments. She/or he would keep up with the new technologies that comes out and keep track of the competition. • One would be responsible for marketing objectives and target marketing. He/ or she would focuses on what needs to be done for future purposes. • One would be responsible for product and pricing strategy. He/ or she would be in charge of setting prices and budgeting for the product. One would be responsible for marketing communication strategy. He/ or she would be in charge of the advertising, ads, sales, and promotion planning of the product. One would be responsible for distribution strategy and implementation and control. She/ or he is in charge of the action plan for marketing objectives. Being a brand new...
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...Executive Summary Introduction Blu-Ray Computer Design will provide computer and technical consulting to local small businesses as well as home PC users. In doing so the company will focus on marketing, responsiveness, quality, and creating and retaining customer relations. The Company Blu-Ray will initially be a sole proprietorship with minimum outside financing. Blu-Ray will be a home office start-up, utilizing one studio room in the owner's home and serving customers in the local Clearwater, Florida area. Blu-Ray Computer Design will be initially owned by Nigel Murrien. Depending on growth, the company will possibly add additional employees and expand operations. The Market Market research indicates an available market niche able to be occupied by additional businesses of this nature. The very nature of the computing industry, with its extraordinary rate of technological development, creates a constant need for businesses skilled in updating and advising customers on computer-related issues. Home PC users will provide the majority of our business revenue. These jobs will typically consist of minor upgrades services and advising. Business Week expects the computing industry to grow at a rate of 12% and the processor speeds to continue to expand for years to come, providing a rich resource for sales. Blue-Ray Computer Design has decided to focus mainly on the home PC market for many reasons. These home customers typically request jobs that are easier, faster, and less...
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...Marketing Mix “The four P approach has led to a manipulative attitude to people” (Gummesson, 2002:285). “What marketing deserves is new approaches, new paradigms, which are more market oriented” (Gronroos, 2002:140). “We propose that the mix has now reached its vanishing point, and we argue that marketing requires a new paradigm” (O’Malley & Patterson, 2002:50). What is common among the above three quotations is the fact that they are all against the Marketing mix. They also share the common belief that it’s time for a radical change, one where the 4Ps are rejected for a new paradigm. But the importance of the 4Ps is being undermined. Despite its limitations, they still form the base which is being used by modern organizations. This paper attempts to show the importance of the marketing mix for modern marketers and that it cannot be relegated from modern marketing strategy. The paper is divided into six parts. Beginning with the introduction it then moves on to the development of the marketing mix theory. The third part contains the literature review of the mix. The fourth asserts that marketing mix in conjunction with RM and CRM can result in a successful marketing strategy and the fifth uses Lexus as an example to prove this assertion. It ends with the conclusion. What Is Marketing Mix? The Oxford Dictionary of Business and Management’s definition of the Marketing Mix is of “the factors controlled by a company that can influence consumers’ buying of its products” (Anon...
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...1) Research SAP – discuss in YOUR words: what is SAP, what are some of its functionality, do research to determine its strengths and weaknesses. This should be 2 paragraphs – at least 20 sentences! In June 1972 5 IBM programmers created a company called Systems Analysis and Program Development after having worked on a program called SAPE for IBM. The programmers were originally pulled off the SAPE project but wanted to continue their work. Selling stock from their time at IBM the original founders of SAP were able to continue work on the SAPE program and eventually create many solutions for business. SAP is now one of the world’s largest software development companies focusing in Enterprise Resource Planning (ERP) software. SAP has locations in over 130 countries and is the world’s leading ERP developer. SAP focuses on 6 primary industries: discrete, process, consumer, service, financial, and public services. SAP also offers integrated solutions for large enterprise companies as well as small and medium size businesses. Currently the SAP ERP Business Suite offers 5 ERP solutions for businesses intended to cover the scope of all solutions a business may need to be successful. Supplier Relationship Management (SRM) – this software allows companies to make orders from suppliers handling things such as inventory, scheduling, and cost analysis. Product Lifecycle Management (PLM) – This software allows manufacturers to maintain accurate product information that enables...
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...Project Report Launching the BMW Z3 Roadster Introduction BMW Z3 is the 1st BMW car which is being manufactured in North America, a market which has contributed only 16% to BMW s revenues. At the same time, the American customer has found itself very difficult to relate itself to a foreign brand. Here lies the challenge for BMW and the marketing efforts behind the Z3 campaign are aimed at changing this perception of the American customer and ingrain BMS s brand image in the hearts of Americans. Phase1 which was not a run of the mill marketing campaign created a huge buzz and was deemed a huge success. The campaign revolved around the placement of the BMW Z3 in the James Bond Movie, GOLDENEYE as Bonds new car. Several other non-traditional elements such as being part of the Neiman Marcus Christmas Catalog, product appearance on the Jay Leno show, and launch at Central Park ensured an out-of-the-box prelaunch. The challenge now is to leverage the buzz and design Phase II marketing strategies which will convert the interest generated into revenues for BMW. Strategic Significance of the Launch The launch is especially significant for BMW because the success of the entire U.S. operations of BMW crucially hinged on it. Moreover, BMW hopes to position the BMW brand firmly in American culture and settle into the hearts and minds of the American public through the launch. It was also meant to promote the vehicle as a cultural icon in America. Further, the launch demonstrates that...
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...In a Brand mantras are short; there is 3-5 word phrases are supposed to relay everything the seller is trying to convey to his consumers. Not only is it conveying a message to the consumer but also everyone associated with the organization, everyone from the sales staff to the marketing so they can understand the essence the organization is trying to capture. Also the brand positioning is an important aspect and as a matter of a fact where everything starts when an organization wants to create their brand. Its concept is to capture where the organization wants to target the market with their product/service. It is supposed to capture the brands essence in its design and easily convey that to the minds of the consumers. And important aspect of a brand that is associated with its reputation I believe is the point-of-difference. The point of difference are unique associations (meant to be positive) that the consumers make only with a particular brand, versus the point of parity, which are associations that are shared with competitors. How a brand is different in terms of what it offers to a consumer is very important for its reputation that is called its differentiability. Its deliverability is the commitment and its ability to use its resources accordingly to make sure its product/services deliver what it promises. Some of the advantages that an organization can benefit from once their brand and product is out in the market; is it creates a good perception of product performance...
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...31/08/2011 Group 2 – Kieran Tierney Marketing Plan: Vifon Cup Noodles Contents 1. EXECUTIVE SUMMARY 3 2. CURRENT MARKETING SITUATION 4 2.1. Introduction 4 2.2. Situation analysis 4 2.2.1. Microenvironment 4 2.2.2. Macroenvironment 6 3. SWOT ANALYSIS 9 4. OBJECTIVES 10 4.1. Corporate objectives 10 4.2. Financial objectives 10 4.3. Marketing objectives 10 5. SEGMENTING, TARGETING AND POSITIONING 11 5.1. Segmentation table 11 5.2. Targeting 11 5.2.1. Evaluating Market Segment 11 5.2.2. Target marketing strategy 12 5.3. Positioning 12 5.3.1. Positioning map 12 5.3.2. Possible value different and competitive advantage 12 5.3.3. Choosing the right competitive advantages 13 5.3.4. Overall positioning strategy 13 5.3.5. Positioning statement 14 6. MARKETING MIX STRATEGIES 14 6.1. Product strategy 14 6.1.1. Brand Life cycle stage 14 6.1.2. Levels of Products and Product strategy 15 6.1.3. Brand Development Strategies – Line extension 16 6.2. Price Strategy 16 6.2.1. Product Mix Pricing Strategies 16 6.2.2. Price-Adjustment Strategies 17 6.3. Place strategy 17 6.3.1. Administered Vertical Marketing System 17 6.3.2. Multiple distribution channels 18 6.3.3. Channel design 19 6.4. Promotion 19 6.4.1. Promotion mix strategies 19 6.4.2. Promotion tools 20 7. ACTION PROGRAM 23 8. CONTROL PROGRAM 25 REFERENCES 26 1. EXECUTIVE SUMMARY Vifon (Vietnam Food Industries Joinstock Company) seeks to provide a...
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...1.0 Introduction: 1.1 Purpose of the Report: The report is the first phase of a modified integrated marketing and communication plan for a new treadmill called Digi-Sprint. 1.2 Description of Digi-Sprint: Digi-Sprint is the only treadmill that has a retractable integrated touch screen computer with Wi-Fi, voice reader and webcam. The screen is retractable to fit the different consumer’s different needs as some would prefer to have the screen at a distance while others prefer it to be at a close range. For consumers who do not like reading while running the voice reader would read out the required areas of the website. Another main feature of Digi-Sprint is that it is silent. It does not emit noise like other treadmills. (Refer to table 1 in the appendix for all the features of Digi-Sprint both tangible and intangible characteristics). 1.3 Brand Image and Brand Identity: “Brand identity is a combination of name, logo, and design.” (Blech, Blech, Kerr & Powell, 2009). Digi is short for digital which implies to the consumers that the treadmill is digitalised and sprint is supposed to represent the athletic factor of the treadmill. The brand image that the company wants consumers to associate with the Digi-Sprint is that it is a sophisticated, intelligent high-end brand treadmill that is revolutionary and entertaining. The sophisticated image is to be achieved through the sleek and complex design. Intelligent is accomplished through the sharp, quick and innovative interface;...
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