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

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(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

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●      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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