Business and market analysis of Tea company

Business and market analysis of Tea company Tapal Tea (Pvt) Limited is one of the leading manufacturer of brand tea in Pakistan and south Asia. This product is introduced by Adam Ali Tapal in 1947. Its business is growing from day by day through its inception. There is no business in the world that cannot face the competition in the market. Tapal also faces tough competition from different brands of the company like Lipton, Brook bond and supreme which are also giving tough completion to Tapal. It is one of the largest Pakistani company who has started in Judie Bazaar one of the busiest business area in Karachi, Pakistan. Tapal is one of the largest local companies who do not have any investment from abroad. This business started as sole proprietorship and becomes Private Limited Company now. It means to say that the company now has legal status than before. In 1997, Tapal tea is one of the first company who got the ISO-9001 quality standard, a symbol of high quality. Tapal company main focus is quality. They never compromise on quality. A customer can pay more price but they are not ready to compromise on quality. It includes who are the customers of the product. Tea is one of the hot beverages which are commonly used by different peoples of different ages from rural to urban areas. The market of tea is very strong in the Pakistan. Learning Outcome 1 Vision statement Linda Jackson Burrs states that vision statement is where you see you future state. Creating a vision statement takes some thought as to what is really doable and believable The vision of company to expand the business, consistency in price and further improve quality of the product Mission statement Jeffrey Abrahams states that every company, n matter how big or small, needs a mission statement as a source of direction, a kind of compass, that lets its employees, its customer and even its stockholders know what is stand for and where its headed. Our mission of the company is to provide world class product in minimum price, not ready to compromise on quality, to have good relations in the market and makes perfect market for the competition. There are so many organizations that are only writing mission and vision of the company and not following on them but Tapal Company Limited is one of those companies that is clearly doing what is their promise to do like not compromising on quality of the tea, producing new brands of the tea and expanding their business to the wider extent. Marketing strategy Marketing is one of the key elements in addition to other functions without which the company cannot get success. Marketing of the product is not easy task by any means, so proper care should be taken very carefully otherwise the project can be failed. It based on a process in which organization to focus on the availability of its resources to increase its profit by increasing the sale. Marketing planning Marketing Planning is a set of document in which details of action is given to achieve the objects set by the management for a period of one or up to five year. It could be based on selling of any kind of product. Marketing plan is usually based on the whole business plan. Strong planning can play major role in the success of product sale in the market. Its very important to have a very aggressive plan if you are not an introducer of new product and still you want to grab the market. Link between Marketing Plan and Marketing Strategy Whenever you want to launch a product you must plan it. If you plan well it gives you a good picture how much you can achieve but if you didnt then it might cause an organization very heavily so marketing plan which is a business plan for a company is very important for the launch of a product and even if you want to do some extension in your product and at the launching time you need a marketing strategy to increase the sale up to the maximum level. Marketing strategy is the foundation of marketing plan. And marketing strategy can make marketing plan more effective so we can say they both are very important for the success of the product. Impact of Strategy over Planning Strategy always plays a big impact over planning because even if the planning is excellent but they are unable to create a good strategy then everything will be good but on papers only. The external requirement which need to be taken from the customer can only be achieved by the good business strategy. So we can say for the success of planning you must have good strategy as well. Marketing planning problems There could be so many problems when you make marketing planning. There could be so change in the environment means you need to change the forecast. They are unable to give the required factual information and doest make good marketing decision. It could be possible that they spend too much for the advertisement and doest get the response they want. May be they lack experience for preparing a strong marketing plan. Component of Marketing Planning There are so many marketing components which are used in the business I am discussing in this assignment. In brief they are price, product, promotion, placement, people, environment and process. When Tapal make a marketing plan they always consider what price should they set for the product because they have so much competition in the market, they always make sure that when they introduce a product it has to be unique so they will grab the high share in the market. They always promote their new products so all will know something new and different is coming in the market. Every time when they plan they make sure what area they need to cover and where to launch the product. They always make sure in their planning that how people will obtain the product. SWOT analysis SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors http://marketingteacher.com/lesson-store/lesson-swot.html This is an abbreviation of strength, weakness, opportunity and threat. I will analyze this tool in my selected firm http://hrmadvice.com/assets/images/swotanalysis.jpg Strengths Continuous innovation for increased customer value, for example: First to introduce soft pack in the country, The pioneer of selling Jasmine Green Tea in Pakistan. The only company selling round-tea bags in Pakistan. Tapal is one company that is catering to the needs of all segments of the society. They are exporting their product in so many countries Qualified Research Development team Brand awareness targeting the local market. Weaknesses They are importing some products which increase their cost and decrease their profit. Sale on cash system gives chance distributor to switch to other any time. Tight quality control increase the cost and sometime relationship with distributor is also gets disturbed. Opportunities Tea begs market is increase day by day and they already have a big share in this so they can easily grab more percentage in the market. Customers are very much attracted and like strong taste and quality of tea offered by tea providers. There are so many areas in the country which are still not fully covered by any tea provider company. They are importing Duty free tea from different countries. Green tea requirement is continuously growing. Threats Strong position and big name of Unilever makes extremely difficult for Tapal to counter-attack because of low budgets and they are financially very strong. Unilever is a big name in the country more than Tapal worldwide. High import duties encourage smugglers of tea to grow. They should take immediate step to promote their products in the market because they are spending very less amount for the marketing of their products and all other competitor spending too much money to market the product and to grab more shares in the market. Learning Outcome 2 Producing marketing plan for Tapal Pvt Ltd Before thinking about any plan you have to be sure about the whole industry overview. So out plan is to introduce variety of tea products in Pakistan by Tapal pvt ltd. As we know that is one of the most popular drinks in the entire world and especially in ASIA region people are literally crazy about tea. The demand for tea is very high in Pakistan. With such a huge public who likes to drink tea, the competition is also there and very tuff as well. Brands such as Tapal, Lipton, Brooke Bond and Supreme, are the biggest tea brand in Pakistan. The target people are very common for the entire brand who love to drink the tea. And we know that the area which they need to cover is very Hugh. It consumed on daily basis with very high quantity. The current demand is very high and its demands are getting higher and higher. As competition is very tuff so market share is divided into many company and our plan is to grab the maximum share from the market. Our plan is to produce those kind of goods which are more consuming and more in demand so thats how we will be able to grab the more public and for that we need huge amount to invest in business because we need to spread all over the country and have to market our product at every corner so it will cost us very high. For that we need to see is the time is good to invest so much in the business. Are the political and social conditions of the country supporting our decision of investing such a big amount? If we are sure that the decision will favor the company it will maximize it profit by increasing the share and capturing the big market then it could be a plan which we will definitely follow. We know that if our customer is happy with our product than our competitor will have to face a strong fight through our product and we definitely win the maximum market share. Marketing Mix Element of marketing mix normally referred as 4 ps which are Product, price, place and promotion. A product is a service given by the company to its customers and price will be amount customer paid against the product of a company they have purchased. It all depend on company what price they need to fix for the company. The place could be from where it was purchased. E.g. tea can be purchased by big store and its a place or by any small shop as well and last thing is promotion which describe how the company helps to market its product. Marketing mix can affect the decision taken by the upper management like if management dont want to spend a lot on product marketing but marketing mix strategies forces them to spend more for it. If management plans to increase the price of the product but the time they might follow the marketing mix strategies which force them to retain with the same price. 7C By the help of different definition we will grab the meaning of 7c which are consists of Context, Commerce, Connection, Communication, Content, Community and customization. These entire customer based details available in marketing which help the company to interact with the customer. 7P The 7p in marketing are product, price, promotion, place, people, processes and physical evidence. They are effective for any kind of marketing process ensure that an appropriate value is assigned to each one of them. The 7p are as important in marketing as the success or failure might result due to them. The actions and budget so important when making a plan for the company because the action you do when you are implementing a plan is very vital because a wrong action can disturb the whole planning and proper budget setting is a key of success of planning because if you didnt budget out your plan you can be short of finance. Planning and action always controlled the organization because it makes you organized and the organization is always prepared for what their next step will be. Due to these reason the organizations are always prepared and taken all kind of action well before time and they are not worried about what they need to do. Learning Outcome 3 How your marketing plan support your organization strategy objective Marketing plan come through a long process it start from a single department and ends up to management decision, plan must be always like easy to understand for management to approved it and realize the facts of market strategies for what they want from customer, Tapal always make a attractive marketing plan which always looks different from others, for now this marketing plan which is very supportive for the organization is just because its meets the need of customer in a very smart way like they introduced a new tea flavor which is they want to be market the product by new style which a customer attract and also get some benefited for an organization. How your organization implement your plan Tapal is a big in industry so any body at any time can interested in the advertisement for its product, it is the best way to approved the marketing strategy by showing that there are 5 major advertisement companies are ready to launch and advertised our new product in the market, and if the plan is 100% correct then organization never refuse because they get more revenue and goodwill in the market. If the plan is according to organization and customer then it is easy to take decision for management. Plan should be compressed and productive for organization. Plan should be not very costly. Plan should be not so long time process Plan should be as per new techniques and 3D type as per new generation like Plan should be process after research Plan should be shows new market prices Plan should be long life and skill full. Discuss link between strategy and implementation and skills needed for implementation As we discussed above that is the plan is strong then management never refuse them because they also want to be leader in the market, before making a plan it need a strategic thinking on the plan to make it perfect and executive, after that this plan need some skills like added some technically and moderate touch to improve the product quality and price, so that the organization easily implement on the upcoming strategic plan with full of skills. It is very easy to make a plan but is not easy to do implement on it so if the plan is make with strategic and skilled so it could more productive to introduce in front of management and if the plan is in according to the new market requirement so it is likely to be more attractive if there is a less skills include in it. Outline your approach to gain your agreement for marketing plan If the plan is according to companies favor so there is no any chance that it could be rejected. Always approach will be positive to make the plan competitive and advance. Tapal is always look in those matter which are highly skilled, attractive and sincere with the organization, to gain the agreement for strategic plan for organization is a very important role for marketing department to extent their plans which are still are in favor of organization and as before management like the approach to get always new marketing style, the best approach for management is that to produced their best efforts to capture the market because know a days their so many competitors in the market if they lack in the advertisement or promotion or introducing in new products then it could be easy for other competitors to overcome. Describe your publicity and promotion strategy as part of your organization The first approach is that tapas needs to be improve their marketing style just because know a days people need electronic media advertisement and promotion on all the product to get all the products in a very cheap and reason able price this can increase in the number of customers but also increase in loyal customer. The best approach to get the agreement extent or more loyal tapal need to make advertisement in TV ads and make a ads with the celebrities to make people more attract. For tapal it is not a big deal to make ads with celebrities. They also need to do some sale promotion and prizes for kids to make them also a part of tapal, and take some social activities like arrange some games, concerts, charity and convocation and show sponsoring in these activities to make good image in the market. Identify and describe your evaluation review measure and trend for the effectiveness of your plan To maintain the level of the marketing in the fast running industry because there is not only one part or trend to evaluate and measure the causes of market its a long and lengthy process which each and every department of the organization is involved in it, according to new trend we can say that people need always new and productive so Tapal team is always try to first in the line and make sure that the plan for marketing is effective for organization and its growth, as review the trend is that people need always low product price rate but now a days they also want some prizes or promotion on the product to get more benefit from the product they buy. It is not easy to maintain both of these issues with each other, team is always tried to make their plan effectiveness and evaluate the main issue in front of management. Conclusion At the end of this course we can understand vision and mission statement of business and how we can make marketing plans keeping all risk factor in mind. How we can control planning and how we can support our organization object. How to publish and promote the strategy of our company and how our plan can be affective.