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Strategic Marketing Plan – Velvet Soap & Body Lotion

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Strategic Marketing Plan – Velvet Soap & Body Lotion

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Description

“Formulating A Strategic Marketing Plan”

Background

Select a company where you can obtain internal and external data as to its products, markets, competitors, customers etc. Preferably it should be a medium scale or a largescale company. Volume of sales should be at least Rs. 24 million per annum.
Assume that you are given a consultancy assignment to write a comprehensive marketing plan for one of their products or category of their products and write a marketing plan in the given format below for a period of one year.
The format is only a guideline and the page length of content stated therein could change as per the merits of the case. However, you may not deviate plus or minus 20% of the page length given. You can make assumptions, but it should be logical.
Your arguments and forecast should be supported by relevant data/information and if possible, it should be included to the appendix.
Executive summary should be written after completing all other parts of the report and it should describe the whole marketing plan in a nutshell. A special practical session will be held during the classes to coach students on how to write an executive summary.

1. Executive Summary
a) Summary of Situation Analysis
b) Summary of Marketing Objectives
c) Summary of Marketing Strategies

2. Situational Analysis (Marketing Audit)
1) The Company
1. The products and services that the company is offering, product life cycle and USP etc
2. Sales (last 05 years)
3. Revenue and revenue growth (last 05 years)
4. Current market share
5. Current distribution systems
6. Pricing methods
7. Promotional activities in last two years
8. Positioning & Branding strategies etc
9. Description of the characteristics of target customers
10. What do they buy?
11. Why do they buy?
12. When do they buy (are there any special situations/movements to buy)?
13. How do they buy?
14. Buying decision process
15. Total sales, revenue & growth (industry)
16. Market Trend/s Opportunities & Threats

2) Competitor Analysis
a) List of Primary competitors
b) List of Secondary competitors
c) Possible new competitors
(Describe following details of top two players in the market or any
other competitor that would pose a threat to you or that you would be
fighting with to enter the market)
e) The products and services that the company/s is/are offering, product life cycle and USP, etc
f) Current market share
g) Current distribution system
h) Pricing methods
i) Promotional activities in last two years
j) Positioning strategies
k) Branding strategies
l) Mind and heart share for the competitor’s products
m) Technological leadership

3. SWOT Analysis

4. Marketing Objectives

5. Marketing Strategies
1. Target Marketing Strategies
2. Positioning Strategies
3. Overall Marketing Strategies (Growth strategies, Overall Competitive
strategies etc)
4. Marketing Mix Strategies (7ps)

6. Marketing Activities & Budgeting
i. Action plans to achieve marketing mix strategies
ii. Sales forecasting
iii. Setting Marketing Budget

7. Monitoring and Evaluation

Additional information

Table of Contents

Executive summary
1.0 Situational analysis
1.1 The company
1.1.1 Product range of Velvet
1.1.2 Product life cycle and unique selling proposition (USP)
1.1.3 Sales, revenue and revenue growth
1.1.4 Market share
1.1.5 BCG matrix
1.1.6 Current distribution system
1.1.7 Pricing methods
1.1.8 Promotion activities
1.1.9 Positioning and branding strategies.
1.2 Customer analysis
1.2.1 Customer segmentation
1.2.2 Consumer behavior (What do they buy? why do they buy? how do they buy? when do they buy?)
1.2.3 Buying decision process
1.2.4 Market trends
1.3 Competitor analysis
1.3.1 Comparison of key competitors
2.0 SWOT analysis
3.0 Market objectives
4.0 Marketing strategies
4.1 Target marketing strategies
4.2 Positioning strategies
4.3 Competitive strategy and growth strategy
4.4 Marketing mix strategies
4.4.1 Product
4.4.2 Price
4.4.3 Place
4.4.4 Promotion
4.4.5 Physical evidence
4.4.6 Processes
4.4.7 People
5.0 Marketing activities and budget
6.0 Monitoring and evaluation
References
Preview

Executive summary

Hemas Holdings is the second largest conglomerate of Sri Lanka. Hemas Group has many subsidiaries which operates in different sectors such as FMCG, healthcare, logistics, maritime etc. Hemas Manufacturing is the largest subsidiary of Hemas Holdings which offers consumer brands of home and personal care, school and office stationary. There are different personal care categories in Hemas portfolio covering haircare, skincare, oral care, feminine hygiene and fragrance. The objective of this report is to develop marketing plan to skincare product category of Hemas Manufacturing. Skincare category has various brands and variants including baby care products. This marketing plan specifically focus on Velvet which is Hemas’ leading skincare brand instead of baby care products.

1.0 Situational analysis

1.1 The company

Hemas Holdings was founded in 1948 and currently, it is one of the largest corporation of Sri Lanka. Hemas Manufacturing is its oldest and largest subsidiary of Hemas considering revenue and number of employees. The company has 1450 employees. Hemas Manufacturing offers some of the most trusted brands in personal care. Velvet is their leading brand which focuses in giving the best skin care. Business strategy of Hemas Manufacturing is that developing a portfolio of consumer brands locally and regionally with good quality for affordable prices.

1.1.1 Product range of Velvet

Originally, velvet is a beauty soap brand and later Velvet introduced different related products. Below table shows the Velvet’s product range and its variants.

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