We introduce new pack of biscuits for Punjab region that is Lovely biscuit are the new brand of lovely private ltd. Company. As name indicates lovely biscuits are well nutrias, tasty, crunchy, healthy and provided in different flavors like orange, chocolate and creamy. Ingredients used by lovely biscuits are wheat, sugar, milk, cream, nuts, dry fruit, chocolate, orange powder, taste maker, etc. In situation analysis we are going to discuss full analysis and detail of Past Promotional situation, Product situation, Audience situation, Competitive situation and Regulatory situation etc. The manufacturing units have been equipped with latest modern machines, which produce same kind and same quality means standardized biscuits. we also used sophisticated packing machines and material. We ensure that biscuit manufactured will never fail to satisfy the customer with its freshness and taste. Now we want to know where our audience stands and what they think about new product of biscuit. As we know this kind of purchases are made by parents of children and may be by head of the family, because they are that person who earns and other are depends on them. Lovely biscuits have local and popular brands competition which includes BRITANIA, ANMOL, SUNFEAST, TIGER, HIDE AND SEEK, LOCAL BAKERY BISCUITS ETC. Government take steps to regulate FMCG sector like good manufacturing practices, hazard analysis of critical control points (HACCP). The company products should be BIS certified and the company is ISO 9001: 2000 certified. We also done SWOT analysis and set communication objectives to increase sales by 5% every year. Forecast market budget, sales forecast and media budget. Also set target audience of 5 to 65 male and females. At last we made campaign and print ad and television commercial.
INTEGRATED MARKETING COMMUNICATION PLAN FOR (LOVELY BISCUITS)MARKET ANALYSIS
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As we know there is huge market of biscuits. There are number of players in market who has capture large portion of market. There are number of big players like, BRITANIA it has number of brands like (The Britannia company factories have annual capacity of 433,000 tonnes. The brands name of biscuit include Tiger, Nutri choice Junior, Good Day, 50- 50, Treat, Pure Magic, Milk Bikis, Good Morning, Bourbon, Thin Arrowroot, Nice and many more. Anmol offers its customer a wide variety of biscuits which include Glucose Biscuits, Coconut Biscuits, Buttermilk Biscuits, Chocolate Biscuits, Tea Biscuits, etc.) so according to market survey there are also number of local brands like RCM BISCUITS AND BAKERY BISCUITS. But there is scope to capture market through USP and wide range of distribution channel. We want to capture 25% of local market share of nawanshahar market then whole Punjab region.
INTRODUCTION OF LOVELY BISCUITS
Lovely biscuit are the new brand of lovely private ltd. Company. As name indicates lovely biscuits are well nutrias, tasty, crunchy, healthy and provided in different flavors like orange, chocolate and creamy. As we know different flavors are demanded by public so we produce lovely biscuits which fulfill needs of public.
Ingredients used by lovely biscuits are wheat, sugar, milk, cream, nuts, dry fruit, chocolate, orange powder, taste maker, etc. Because this brand is new for market so I want to launch this biscuit in market through well designed IMC plan.SITUATIONAL ANALYSIS
In situational analysis of IMC plan we describe situation of product and their location it means where we want to launch lovely biscuits where we get huge market and user of lovely biscuits. In situation analysis we are going to discuss full analysis and detail of Past Promotional situation, Product situation, Audience situation, Competitive situation and Regulatory situation etc.
According to our view we feel that in Punjab (Nawanshahar) district demographic characteristics and location make it an ideal place to open a biscuit shop. Nawanshahar city has a large population of children and young adults; those are heavily users of biscuits. There is also number of school and college customers. Nawanshahar has a population of approximately with a median age of 35. There are also so many villages around this city.PAST PROMOTIONAL SITUATION
As we already discuss that lovely biscuit brand is new to market so it is obvious that it has no past promotional situation.
Always on Time
Marked to Standard
Now we are going to describe current situation of our product which include product information its feature, quality, price and availability and USP
PRODUCT: - Lovely biscuits offer its customers a variety of flavors to suit all tastes. The consumer can choose according to choice like, Glucose biscuits, coconut biscuits, Butter milk biscuits, chocolate biscuits, tea biscuits, etc.
- Sugar free biscuits
- Low calories biscuits and healthy
- Proper diet provided and health proteins
QUALITY: - To make each biscuit delectable, we use high quality raw material like all kind of flour, better quality butter and cream, baking powder and soda etc.
The manufacturing units have been equipped with latest modern machines, which produce same kind and same quality means standardized biscuits. we also used sophisticated packing machines and material. We ensure that biscuit manufactured will never fail to satisfy the customer with its freshness and taste.
USP: - Our USP is its low price and different tastes.
PRICE: - Its price is according to weight of packet. Like orange cream biscuit (225 gm, 150 gm, and 65 gm) and same in case of others.
AVAILABILITY: - As we already said this brand is new for market so we want to set its different distribution channels in different districts and city's of PUNJAB.
Now we want to know where our audience stands and what they think about new product of biscuit. As we know this kind of purchases are made by parents of children and may be by head of the family, because they are that person who earns and other are depends on them. Mostly children force their parents to buy particular food item like (biscuits).
If we talk about demographic characters of our lovely biscuits then it may be anyone who consumes biscuit like Male, Female, Children, old person. But mainly our audience is parents whom we want to influence through IMC plan.
Another parameter of judging audience is their lifestyle in society. This kind of persons always buys expensive items because they want to show their level in society, so for this kind of persons different packs are available.
Lovely biscuits have local and popular brands competition which includeBranded competition:-
The Britannia company factories have annual capacity of 433,000 tones. The brands name of biscuit include Tiger, Nutri choice Junior, Good Day, 50- 50, Treat, Pure Magic, Milk Bikes, Good Morning, Bourbon, Thin Arrowroot, Nice and many more.
Amol offers its customer a wide variety of biscuits which include Glucose Biscuits, Coconut Biscuits, Buttermilk Biscuits, Chocolate Biscuits, Tea Biscuits, etc.
There is also one pack which is popular among children that is sun feast biscuits.Local competition:-
In local competition there are so many local packs of biscuit which capture small part of market. That is RCM products, local bakery biscuits etc.
In indirect competition there are so many snacks are available in market which is now play role of substitute of biscuits. They are indirect competitor of biscuit market like, Kurkure. Chips, nankeen bhujia, etc.
As we know government play important role to develop a society or a region. Now government takes steps regarding health care of society so they set norms and regulations for FMCG sector. Because these are fast moving consumer goods so there is need to care validity of product. Like good manufacturing practices, hazard analysis of critical control points (HACCP). The company products should be BIS certified and the company is ISO 9001: 2000 certified.
This is analysis of Lovely biscuits strength, weaknesses, threat and opportunities.
- Lovely biscuits are light weight biscuits which are consumed by all ages of people.
- It has hygiene ingredients which has positive effect on health
- Different tastes according to choice of customers
- Only biscuit specialty retailer in Nawanshahar.
- Sells a variety of biscuits
- Prices are high relatively other products
- Seasonal challenges are there because in Punjab region people like local bakery biscuits in winter.
- There is need of access capital
- Increasing trend of active and healthy lifestyle
- In this area population growth is so much
- There are many school and colleges in this city
- Many developed company's sell online biscuits brand
- There is so many price pressure from mass merchants
- Some brands provide large discount chains
- There are so many fluctuations in the economy so it effect discretionary spending
DETERMINE A PROBLEM OR OPPORTUNITY
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As we know there are so many problems and opportunities available in market while we go for new business or in new market. Our main problem is to communicate our product knowledge among audience.
- To communicate product knowledge and its features
- Need of finance to set a wide range distribution channel
- Generate need among prospective customers
- To expand business among near city's
DETERMINE COMMUNICATION OBJECTIVE
Because we want to communicate our product (lovely biscuits) in Punjab, as we are a new company, lovely biscuits first marketing objective will be :
- To give information about our products and services to our customers.
- Our second objective will be to develop strong brand name recognization and loyalty among customers.
- To increase 5% sale yearly
FORCAST AND MARKETING BUDGETSALES FORECAST
As we told we are new in market so we want to capture market share. According to our survey there is huge demand of biscuits, the average biscuits retailers has gross sale of 15,50,000 Rs. Per year. As we have 5 type of biscuits orange, chocolate, milk cream, coconut biscuits and vanilla plus chocolate. So as we know children are main customers of biscuits so according to our survey we may capture 25% of this revenue by distinct USP and different distribution channels across Punjab region. . We also wanted to be conservative with our forecasting of sales, because we know that this will be our first year in business and it might take a while for sales to grow. Thus, our projected sales revenue for our first year of business is 385,000 Rs.
The following information according to our estimate that there is sufficient demand for biscuit specialty store in nawanshahar area: lovely biscuits are the only specialty biscuit retailer in this part of the region; it gives us great opportunity to capitalize on market. Nawanshahar has a strong family presence, accounting for 52% of the population and families are large consumer of biscuits. There are so many schools in nawanshshar and students have daily routine to purchase biscuits for their school feed.
Now after judging market share and who may be buyers of our product we are going to forecast our sales for period of 2010 and 2011 year. We assume that our sales will increase 5% per year.
BUDGET OF IMC PLAN
We are going to setting our marketing expenses to be budgeted approximately 10% for initial year and then it will be decreased to 7% of sales. However, we increased our marketing budget to 10% of sales to cover the initial expenses associated with starting of new business. For example in 2010 we will spend 20000 Rs. On television commercial and after two months we will plan to spend Rs. 29000 on creating a business website. So after all marketing expenses our expenses will reduce to 7% in next financial year. Market expenses are to be budgeted as money will spend in warmer months to promote the sale.
So, our integrated marketing communication budget of 2010 is given below, in which we include television commercial, radio, news paper ads, promotional event, and direct marketing expenses. We take 10% of sales for initial marketing expenses.
INTEGRATED MARKETING COMMUNICATION STRATEGY
For developing IMC strategy we divide it into different heads like, our target audience, communication mix, management strategy and media strategy. It is discussed below in different heads:-TARGET AUDIENCE
The profile of lovely biscuits consists of following geographic, demographic, and psychographic and behavior factor etc.
Our immediate geographic market is nawanshahar area, with a population of 5, 86,637. However we will include 14853810 people of Punjab in our future prospects for expand business. But our main targeted area is nawanshahar and around its villages.
Our general target market is male and female age 5-65, but we have segmented our market into two smaller and more identifiable group
- Families with children that have an average income of 35,000 or higher
- Mainly children 5-15
- Mainly those people who give priority to health
- When watching TV then wants something to eat
- Always want to physically active
- Regularly shop at retail stores
- Watch biscuits Ads on TV and listen on radio
- Shop at high end retailers
In communication mix we include mix of different media to give message of our product. in communication mix we include television commercial, radio, newspaper Ads promotional events etc. but in communication mix our main objective is to give same message to our all audience who get standardized message out of all channels.
Our management strategy is how we manage our all operations of business, in management strategy is we appoint separate sales persons for different regions, different distribution channels across Punjab and mainly in nawanshahar and around that area. We planning to open 15 retail outlets in different districts and popular city's of Punjab. Our initial sale is 3850000 but we are planning to expand it in near future.
As we already discuss that we are choosing different media for convey message of product. in media which include TELEVISION ADS, RADIO, NEWSPAPER, PRINT ADS, MAGAZINE. OUTDOOR, INTERNET ETC. These different channels we use for our product promotion
In message strategy we give message to our audience about low price, best taste, freshness and durability of lovely biscuits. We set our message different from our competitors and we also describe through print ads that we have different taste biscuits as per demand of different audience. They can choose according to their choice.
CAMPAIGN OF LOVELY BISCUITS
As we already discuss that this biscuits are new for market so we design print ad and television commercial for lovely biscuits. Same kind of ad we sound on radio at different timing. So, print and TV ads are given below:-
TELEVISION AD OF LOVELY BISCUITS
OPENING: A family wondering in market (husband, wife and two children) they are hungry and want something to eat.
ENTRY: Then they enter into a retail store, where they steering on lovely biscuit packets and at a same time speak I want this lovely biscuits, but their finger was on different packets of lovely biscuits i.e ORANGE CREAM, CHOCOLATE CREAM, MILK CREAM AND MIXED CREAM.
SHOPKEEPER: Shopkeeper smiling and pickup different packets as per their choice and said, LOVELY BISCUITS ARE FOR YOUR FAMILY.
For promoting our product in initial stage we are going to introduce promotional campaign in which we consider trade promotion strategy and consumer promotion strategy. In trade promotion we set targets for retailers and distributors if they meet their targets then they will get gift packs and tour in India's famous places. And we give small gifts like small size toys with pack scratched to attract childrens.
- Kruti Shah, Alan D' Souza; Advertisement and Promotions- An IMC Perspective, Tata Mcgraw Hill.2007
- Churchill, Ford, Waliker; Sales force Management, Tata McGraw Hill, 2005