Marketing Plan For Suff Limited Company – Free Essay Examples

Marketing Plan For Suff Limited Company

Company description

Suff Limited was established in 2005 and is located in Washington, USA. In its inception, the firm’s business structure was a partnership. However, in 2007, the firm’s management decided to change the structure to its current corporate business structure. This made the firm legally operate as a private limited company. The firm deals with the production and marketing of soft drinks within the US. To conduct its business effectively, it has its production plant where all the production processes and packaging take place. Initially, the firm operated on rented premises, but later, it established its premises. As a result, the firm’s plant has got all the necessary facilities to execute its activities. This has made the firm’s operation to be cost-effective.

The firm has got two directors in its human resource, and in total, the middle and lower-level managers are six. Over the years of its operation, the firm’s management has appreciated the impact of human resources on its function. This has made the human resource department undertake a comprehensive recruitment process during hiring. This enables the firm to select the most qualified individuals.

To allow effective communication within the firm, the management has developed an organizational structure to ensure effective vertical and horizontal transmission.

Due to the lucrative business opportunities within the Soft Drink Industry, the firm has established a stable financial base due to increased profitability.

Executive summary

In the recent past, the firms marketed their products in general. This means that it did not differentiate its products, which challenged it. Through market research conducted by the firms, the survey indicated that the Soft Drink industry is not fully exploited. The management noted this as an opportunity that, upon exploitation, can result in increased profits. To acquire a significant market share, the firm’s administration intended to adopt a new marketing strategy. This is through ensuring that its products are differentiated from competitors.

One of how differentiation will be conducted is by ensuring attractive and safe packaging of its products. This will instill confidence in the customers that soft drinks are safe to drink. It will also ensure that the soft drink packaging comes in divergent colors and flavors. This is through the adoption of a branding strategy that addresses the differing tastes and preferences of the customers in the market.

To effectively address the real market needs, the firm will also incorporate a market segmentation strategy. To market its products effectively, the firm has segmented the market in terms of age factor. This is in terms of the customers, who include the elderly and the youth.

The firm’s management further intends to enhance this market segmentation by producing a soft drink from fresh fruits. Through this new product, the firm targets are penetrating the market of the elderly consumers more effectively. Other consumers will also consume the product due to the incorporation of price in the segmentation strategy. According to the firms’ survey, it was evident that soft drink producing firms have neglected the soft drink market of the aged consumers.

Through the marketing of the product, it will be possible for these potential customers to appreciate the product resulting in its consumption. This is because the product will result in value addition since it will improve the consumer’s health. Through the marketing of this product, the management expects that its market share will increase. This will also result in an added competitive advantage for the firm upon the product penetrating the new market segment through comprehensive marketing, including advertising.

Mission statement

Suff Limited mission is to ensure that it addresses the soft drink demand for all the customers in the market, resulting in their satisfaction.

Financial goals

By adopting an effective marketing strategy, the firm intends that its sales will increase initially by 20% upon its implementation.

It is also the firm’s objective that its gross profit margin will increase with a margin that is higher than 25%.

The management intends to minimize the cost of addressing the market needs in terms of the individual market segment.

Nonfinancial goals

To increase the level of customer satisfaction through product value addition.

The management has an objective of the firm to participate in corporate social responsibility.

To be engaged in competition with firms in the Soft Drink Industry fairly.

Firm’s competitive advantage

The competitive advantage of Suff Limited lies in its high-quality human resource in the entire firm’s department. For instance, the marketing department incorporates market intelligence in their marketing activities.

SWOT

External forces

External forces

Increased demand for social responsibility is an opportunity since the consumers will identify themselves with the firm. However, the change in social-cultural behavior is a risk to the firm’s product since it may result in the firm developing a negative attitude towards the firm’s product.

The current financial crisis is a risk since it may be difficult for the firm to raise funds from financial institutions. This has resulted in consumers changing their consumption patterns to address essential products such as housing and food. In addition, currency instability may result in firms’ financial loss in venturing into the export market.

The incorporation of electronic commerce would increase the firm’s level of profitability. In addition, technological innovation is an opportunity for the firm since it will increase efficiency in soft drink production. But, on the other hand, it presents a threat due to the increased risk of obsolescence of the firms’ machinery.

The increase in competition, both domestically and internationally, is a threat to the firm since it will reduce the level of profits.

Increased regulation by either the government or the lobby groups is a threat to the firm’s operation since the firm would have to be engaged in many regulatory formalities. This may result in the firm losing lucrative business opportunities.

Ethical and social responsibility issues

One of the ethical issues that may result in the course of operation of Suff Limited is the safety of product consumption and also about pollution.

The management will ensure that the marketing department describes the firm’s soft drink product composition in terms of ingredients to address these issues. In addition, the packaging of the products will be in containers that can easily be recycled to avoid environmental pollution.

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Reference

UniPapers. (2022, July 6). Marketing Plan For Suff Limited Company. Retrieved from https://unipapers.org/free-essay-examples/marketing-plan-for-suff-limited-company/

Work Cited

"Marketing Plan For Suff Limited Company." UniPapers, 6 July 2022, unipapers.org/free-essay-examples/marketing-plan-for-suff-limited-company/.

1. UniPapers. "Marketing Plan For Suff Limited Company." July 6, 2022. https://unipapers.org/free-essay-examples/marketing-plan-for-suff-limited-company/.


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UniPapers. "Marketing Plan For Suff Limited Company." July 6, 2022. https://unipapers.org/free-essay-examples/marketing-plan-for-suff-limited-company/.

References

UniPapers. 2022. "Marketing Plan For Suff Limited Company." July 6, 2022. https://unipapers.org/free-essay-examples/marketing-plan-for-suff-limited-company/.

Reference

UniPapers. (2022, July 6). Marketing Plan For Suff Limited Company. https://unipapers.org/free-essay-examples/marketing-plan-for-suff-limited-company/

References

UniPapers. (2022) 'Marketing Plan For Suff Limited Company'. 6 July.