Marketing plan Assignment Sample
Strategic marketing plan with the organizational mission, strategy and objectives
Whenever a corporation pursues an ideal consumer in a more intelligent fashion, the likelihood of lowering advertising expenses and boosting the odds of getting customers into sales growth. Unilever’s corporate mission statement is to provide vitality to life in the first place (Young, 2017). The corporation’s mission statement emphasises how it serves clients in numerous fields of life.
Figure 2: Unilever’s financial achievements from 2007 to 2020
(Source: Sabanoglu, 2022)
Additionally, climate change science informs their environmental policy. They are considering the restructure of internal processes while also promoting structural transformation outside of their industry. Unilever aims to assist billions of people to stay healthy, as well as to enhance the livelihood of several of countless individuals in the distribution chain and to reduce the company’s ecological footprint by half (Unilever, 2022). Furthermore, Unilever’s corporate strategy, which is a blend of intensive growth strategies, has shown to be efficient in reaching every one of these goals. Unilever’s global operations will continue to be successful as a result of this strategy.
SMART marketing objectives
| Objective | Specific | Measurable | Achievable | Relevance | Target |
| To increase traffic on company’s website | This objective specifies the importance of website building to acquire maximum number of consumers | This objective could be measured by acquiring insight of the consumer demands and preferences | This objective would allow the company to improve organisational performance | The relevance of this objective can be noted with the improvement of sales | 6 months |
| To improve the reach of organic and vegan products within first two search results | This objective specifies the growing demand of vegan and organic food | This objective could be measured by spreading awareness | This objective would allow the organisation to achieve a great extent of vegan and organic products | The relevance of this objective can be noted with gaining a greater consumer number because the vegan market is growing by $ 31.4 billion by 2026 (Allied Market Research, 2022). | 3 months |
| To redesign company website along with empoweringpresence of social media channels | This objective specifies the importance of social media and website in marketing | This objective could be measured my adopting latest technological advancement and skilled marketing teams | This objective would help in achieving an attractive website along with better social media coverage | The relevance of this objective can be noted in being effective with creativity and innovation | 4 months |
Table 1: SMART Objective
Marketing research to support the new product line launch
In respect to Unilever, manufacturing of its own “vegan ice-cream” can be developed. In 2018, the market of the global dairy-Free ice cream industry was worth USD 455.9 million, and this is expected to increase at a rate of 14.8 %. (GrandView Research, 2022) The increased health consciousness, rising occurrences of gluten sensitivity as well as other milk-related medical problems, and socialising patterns are supposed to propel new markets. A crucial driver driving consumption in the non-dairy confectionery market is indeed the dramatic growth in industrialisation, which is characterised by an increase in plant-based dairy production. Almond milk is the fastest growing factor of production in the vegan dairy market, with a compound annual growth rate of 15.8 % (Grand View Research, 2022). Furthermore, with these aforementioned statistics, new product development could improve technology improvements in the business and provide the marketplace a favourable perspective.
Situational analysis
SWOT Analysis
| Strengths
● The current market capital of Unilever is around 125.90 billion dollars ● The company offers several after sales services as well as premium packages
● The products have flexible pricing and a strong supply chain along with high customer satisfaction |
Weakness
● Unilever is working in a highly competitive market and failing to raise the stakes as compared to other companies ● Unilever does not have a strong IT structure to reduce security risks |
| Opportunities
● Unilever focuses on providing eco-friendly products which is a good opportunity to attract ethical consumers (Ullah, 2021) ● Customers are inclining towards western lifestyle, which will facilitate the proliferation of the company
|
Threats
● Many competitors like P&G, Nestle and others are present in the market (Martin, 2018) ● Unilever provides many products which can be easily substituted and imitated ● Increasing popularity of several small retailer brands is a threat for the company |
Table 2: SWOT analysis
PESTLE analysis
| Factors | Implications | Impact |
| Political | ● The company needs to abide by the laws of different countries
● As the company provides health care and food products too, it needs to abide by the rules of food and drug administrations |
High |
| Economic | ● FMCG growth rate was estimated around 4.5 % in 2021
● Global inflation rate was running above 3.18% at the end of 2020, which can affect the revenue of company (O’Niell, 2022) |
High |
| Social | ● As Unilever is present in around 190 countries in the world, the cultural values of different countries are focused while launching the products
● The language can be a big factor affecting the growth of the company |
Medium |
| Technological | ● Constant advancement in the operating systems is needed
● Implication of artificial intelligence is necessary for efficient marketing and supply chain management ( Cheng, 2021) |
Medium |
| Legal | ● Patents of the products needs to be protected
● Well qualified and efficient legal department is needed to handle legal issues |
Low |
| Environmental | ● The company is working to achieve operational sustainability (Reza, 2020)
● Minimisation of carbon emission |
Medium |
Table 3: PESTLE analysis
5C analysis of Unilever
| Components | Analysis |
| Company | ● Research and funding is increasing
● Human resource management is very efficient ● The company follows a strong culture |
| Customer | ● The company provides a broader range of products so the target customer is massive in numbers
● Consistent and loyal customers of Unilever is big in numbers (Jain and Sharma, 2018) |
| Competitors | ● Several competitors like P&G, Nestle and Johnson & Johnson are dominating the market to some extent (Martin, 2018)
● As the company is operating in highly competitive market the risk of substitution of the products is high |
| Collaborators | ● The profit margin of the company will be highly affected if the supply chain of the company have strong bargaining power
● The company has launched joint ventures with other companies |
| Climate | ● Unilever is focused on improving the sustainability of the product to reduce its harmful impact on environment (Hans, 2018)
● The use of plastic and other such materials are reduced in packaging to avoid environmental pollution |
Table 4: 5C analysis
Competitor analysis
Unilever is providing a wide range of services and products like healthcare, personal care, food, beverages, home appliances and others. This diversity in services has increased the numbers of competitors in the industry. Unilever has many renowned brands like Colgate- Palmolive, P&G , Johnsons & Johnsons, Nestle, PepsiCo, Church & Dwight and many other such brands as its competitor (Cheng, 2021). These competitors can be a big threat to Unilever.
Development of the marketing strategies
| Marketing mix | Strategies |
| Product | Unilever needs to provide several different flavours for their vegan ice cream including chocolate, strawberry, vanilla, butter cookies and many more along with offering consumers an option to customise their organic ice cream as per they want (Davidavičienė et al. 2019). |
| Place | There is no doubt that the organisational store is existing in numerous different regions, but in the case of developing products, they require more coverage. Therefore, Unilever should look out for those potential ice parlours that consider suppliers from ice cream manufacturers. |
| Price | In case of pricing, Unilever should utilise penetration pricing to attract most of the consumers. In this order, reflecting the low price, customers will reach out to the brand that will help them to increase their sales rapidly at the initial period of time (Nair and Kshatriya, 2019). |
| Promotion | Promotional marketing of the products is the most important part of a marketing strategy. In this relation, both digital and traditional promotional channels are recommended, in order to reach effectively to their potential consumer. |
Table 5: Marketing mix
Marketing budget
| Components | Cost in $ |
| Inbound Content marketing | $ 1500 |
| Email marketing | $ 500 |
| Display and Social media advertising | $ 2000 |
| Website marketing | $ 900 |
| Traditional marketing | $ 750 |
| Total | $ 5650 |
Table 6: Marketing budget table
Tactical actions
Media budget
| Components | Cost in $ |
| Market research | $ 600 |
| Hiring media operating team | $ 1750 |
| Content team | $ 1250 |
| Total | $ 3600 |
Table 7: Media budget
Recommendations and rationale
There is a high requirement of understanding multimedia activities to establish better and improved marketing strategies. In this respect, the above-mentioned table of marketing mix has recommended utilising both online and offline channels so that the availability of getting consumers can get increased.
Digital, offline and social media channels are the main elements of this entire marketing strategy plan, without effective strategy and knowledge of media channels, it can portray a negative implication over the organisation. Therefore, in respect to digital communication, Unilever can utilise social medis, email marketing and website marketing as well. Among social media, there are several different aspects such as Facebook, Instagram, Youtube, Pinterest, Snapchat thare are immensely popular among the consumer (Staniewski and Awruk, 2022). On the other hand, in terms of office channels, Unilever can look upto different mediums such as Newspaper, Television and Radio.
Conclusion
The entire assessment is based on the marketing process and planning, which is being supported by the company Unilever. Through this assessment an extended marketing mix has been structured undertaking Dove and Seventh generation, through which the growth of the company is being depicted. In this respect, social media influencers and YouTubers are recommended for the better exposure of the products. Additionally, a SMART objective is being framed along with a SWOT, PESTLE and 5C. Furthermore, a development of a new product is being highlighted through manufacturing of own vegan ice cream, which is being effectively strategised through 4ps. Finally, the assessment concluded with a marketing and media budget with numerous appropriate challenges for communication.
References
Allied Market Research, 2022. Vegan Food Market Outlook- 2026. [Online] Available at: <https://www.alliedmarketresearch.com/vegan-food-market> [Accessed on 20 February 2022]
Cheng, Y., 2021, February. Analysis on the Opportunities and Challenges of Unilever’s Differentiated Competition by Using SWOT and PEST. In 6th International Conference on Economics, Management, Law and Education (EMLE 2020) (pp. 280-284). Atlantis Press.
Davidavičienė, V., Raudeliūnienė, J., Tvaronavičienė, M. and Kaušinis, J., 2019. The importance of security aspects in consumer preferences in electronic environment. Journal of Security & Sustainability Issues, 8(3).
Grand View Research, 2022. Dairy-Free Ice Cream Market Size, Share & Trends Analysis Report, By Source, By Flavor (Chocolate, Vanilla), By Distribution Channel (Supermarket/Hypermarket, Online), And Segment Forecasts, 2019 – 2025. [Online] Available at: <https://www.grandviewresearch.com/industry-analysis/dairy-free-ice-cream-market> [Accessed on 20 February 2022]
Hans, V.B., 2018. Business environment–conceptual framework and polices. International Educational Scientific Research Journal, 4(3), pp.67-74.
Jain, A. and Sharma, R., 2018. Flagship and Flanker Brands: Consumer Preference Study of Hindustan Unilever Limited and Procter & Gamble. IUP Journal of Brand Management, 15(3), pp.7-22.
Martin, O., 2018. Marketing Influences through Strategic Campaigns and Sustainability.
Nair, S. and Kshatriya, K.P., 2019. To Understand the Pre-Launch Activities of Gold Fogg Energy Drink and Its Strategies for Market Penetration in Ahmedabad. International Journal of Marketing & Business Communication, 8(2&3), p.8.
O’Niell, A.,. 2022. Global inflation rate from 2016 to 2026. [Online]. Available at <https://www.statista.com/statistics/256598/global-inflation-rate-compared-to-previous-year/> Acessed 20 February 2022
Reza, M.H., 2020. Marketing Strategy and Sustainable Plan of Unilever.
Sabanoglu, T., 2022. Revenue of Unilever Group worldwide from 2007 to 2020. [Online] Available at: <https://www.statista.com/statistics/269190/global-revenue-of-the-unilever-group-since-2007/ > [Accessed on 20 February 2022]
Staniewski, M. and Awruk, K., 2022. The influence of Instagram on mental well-being and purchasing decisions in a pandemic. Technological Forecasting and Social Change, 174, p.121287.
Ullah, N., 2021. A Comparative Analysis between Unilever and Johnson & Johnsons.
Unilever, 2022. Climate action Strategy and goals. [Online] Available at: <https://www.unilever.com/planet-and-society/climate-action/strategy-and-goals/> [Accessed on 20 February 2022]
Young, J., 2017. Unilever’s Vision Statement & Mission Statement (An Analysis). [Online] Available at: <http://panmore.com/unilever-vision-statement-mission-statement-analysis#:~:text=Unilever’s%20corporate%20mission%20is%20%E2%80%9Cto,various%20aspects%20of%20their%20lives.> [Accessed 20 February 2022]
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