Describe about the Marketing Plan in South East Asia.
In the era of globalization, the competition intensity has immensely increased in the market. It has become much sturdy for the business organizations to run the business effectively in the market (Jobber and Ellis-Chadwick 2012). Dissimilar business organizations are selling unusual kind of commodities and services to increase their market sales as well as position. This also helps the company to grab the attention of the customers in the market. Additionally, it has been also found that the selection (choice) and preferences of the consumers are also quickly altering with time. Due to this, the sales rate of the creation and services- is speedily declining in the regional marketplace. The other existing business organizations are using special kinds of strategies and techniques to promote the goods and services among the targeted consumers in the market (Homburg et al. 2013).
Almost for every big business, organization‘promotion’ plays the most imperative role. De Mooij (2013) put forward that effective marketing helps the big business organization to amplify the sales as well as the market share of the company in the market. Nevertheless, due to the increase in the competition level, the business organizations are unable to maintain the sales rate in the marketplace. In order to increase the sales of the product and services, the business organization need to implement new marketing plan and framework in the business organization. Through this valuable advancement, the business organization can effortlessly attract both the existing and new-targeted consumers in the market.
This study is based on Procter and Gamble. P&G is considered as one of the renowned household companies (pgcareers.com, 2016). The company sells its goods and services in more than 180 countries (pgcareers.com, 2016). The company maintains a large chain business in the global market (pgcareers.com, 2016). For this market analysis the manager has mainly chosen tide. In the current days the traditional way of marketing has totally faded away with the advent of time. In current scenario, it has found that in Singapore P&G is facing a huge down turn in selling ‘Tide’ in the market.
Tide is a detergent, manufactured by Procter and Gamble in the market. The company mainly manufactures goods and services in both the national as well as the international market. Tide was introduced in the market in 1980’s. Within a short span of time, tide has gained huge selling rate in the market (Hartley and Claycomb 2013). The market survey also highlights that compared to the other existing brands ‘Tide ‘is much costlier in the market. In Singapore, tide was considered as one of the useful product, which the company used to sell in the market (Pride and Ferrell 2016).
Problems facing by the company:
However, in the recent days the selling rate has drastically declined in the Singapore market (Demetriou 2015). The marketing strategies which the company is using are not that powerful and effective to magnetize a large amount of consumers in the market. Consequentially, the market share and the sales velocity of the company has affected in the global market.
Objectives of the company:
The main objectives of the business organization are:
Marketing audit is much advantageous for the accomplishment of the business organization (Hartley and Claycomb 2013). With the progression of time, the marketing trends and approaches are drastically changing in the market. Sometimes, it becomes difficult for the business organization to understand and identify the trends and the opportunities.For every business organization, it has become much important to analyze the market scenario for developing the business in the global market (Terpstra et al. 2012). In order to analyze the exact scenario, the regional marketing manager has mainly focused on the marketing audit. Boone and Kurtz (2013) commented that the marketing audit is an effective approach by which the business organization can easily analyze and review every marketing operations of the business organization.
Boone and Kurtz (2013) put forward that through this successful system, the business organization can easily achieve the organizational goals and objectives. Additionally, marketing audit also helps the business organization understand and evaluate every business activity and operation of the business organization. The marketing audit also helps to assess the policies and the effective strategies of the company. Through this effective analysis, the business organization can also easily identify their strength, weaknesses, defects as well as opportunity (SWOT analysis) (Christopher et al. 2013). Additionally, it also helps the company to measure the exact situation and implement strategies to overcome it. Through marketing audit, the business organization can mainly assess the internal as well as external marketing situation (Armstrong et al. 2014). Nevertheless, it also helps to analyze the current marketing strategies used by the company.
In the case of Procter and Gamble, in the last few years the corporation is facing a huge downturn in the Singapore market(Fill and Turnbull 2016). The sale rate of tide detergent has severely declined in the market. This has directly created an impact on the market share of the company (Fahy and Jobber 2012). Here the manager has found that the marketing activities and operation, which the company performs, is ineffectively managed by the business organization. The strategies which the company is presently using in the Singapore market is not that much effective (Mullins et al. 2012).Presently, the regulars’ consumers are switching from one product to the other (De Mooij 2013). Due to technological advancement the choice and demand of the consumers has drastically changed in the market. So, it has become much tough for P&G to maintain the sales rate of Tide in the market.
Here the main strength of the company that it sells the product with good quality to the targeted customers in the market (Bejou and Palmer 2013). Apart from this, the product has a huge recognition among the customers (Fahy and Jobber 2012). As per the market survey, presently ‘Tide’ is facing a hard-hitting competition from the other existing detergents in the Singapore market like like Rin, Persil and Uniliver Purex (Peck et al. 2013). Additionally, the rival companiesis also selling same the product and services at same rate in the market. Due to this reason, it has become difficult for the company to create a distinct position among the targeted customers in the market.
Nevertheless, the competitors like Rin, Persil and Uniliver Purex are using effective promotional strategies and techniques in order to boost the sales of the manufactured goods and services in the marketplace (Hill 2015). However, the promotional strategies of the other companies are somehow affecting the brand image of the P&G in the market (O’shaughnessy 2014).
In order to overcome this drastic and unmanageable situation, the regional marketing manager has decided to launch and expand the product in the new market with new marketing goals and objectives. Here the regional marketing manager has decided to develop the product in the Malaysian market as well as in the other countries of South East Asia. By launching the product in the new market, P&G is trying to enhance the sales rate as well as the market share of the company in the global market. On the other hand, this will also help the company to grab the attention of both the existing as well as new customers in the market.
The Malaysian market is considered as one of the largest market for developing the business and its operation in the market (Hartley and Claycomb 2013). By grabbing this opportunity, P&G can easily expand the product cycle in the new market (Shimp and Andrews 2013). For increasing the production in the new market, the corporation has incorporate new and valuable strategies in the market. As per the internal and the external environment, P&G has adopted the strategies within the business operation performed by the organization. Moreover, as per the political and the economical situation of Malaysia, the business organization needs to incorporate the marketing plan and strategies in the market (Malhotra et al. 2013). This analysis will help the association effectively build up the business in the market.With the increase in the production level, the business organization can easily enhance its sales as well as the market share in the global market.
In order to develop the business and enhance the sales rate of Tide in the new market, the regional marketing manager has developed and framed certain marketing objectives for P&G. The main marketing objective of the business organization is to expand effectively the product life cycle of Tide in the new Malaysian as well as South East Asia markets. In order to overcome the situation, the company is also aiming to enhance the market distribution as well as sales tempo of the company in the marketplace. The company needs to use effective promotional techniques to develop the product in the viable market.
On the other, the company is also trying to widen the business in other parts of the country. P&G is also focusing to increase the brand awareness among the targeted customers in the market. Moreover, the company is also trying to develop the relationship with the stakeholders of the company. As per the customer’s choice and preferences, the company is trying to encourage the product and services in the new marketplace. As per the marketing objectives, the business organization also needs to incorporate successful strategies and techniques within the organization.
In order to expand the big business in the market, the business organization needs to incorporate valuable theories, techniques and framework within the organization.
Chari et al. (2013) commented that the marketing mix or mix marketing is considered as one of the effective marketing tool. There are mainly seven Ps of marketing, which will help P&G to extend the business effectively in the new market. The seven Ps are namely product, price, promotion, place, physical evidence, people and process.
Figure: Marketing Mix
Product is basically the item which the business organization launches in order to meet the needs and the satisfaction level of the consumers in the market (Lorette 2014). In this particular case, it has found that the P&G is going to launch an existing product and services in the new market in order to amplify the sales as well as the market share of the company in the marketplace.
The market situation and trends highlights, pricing are fixed for a particular product and services in the market (Bejou and Palmer 2013). As the company is launching the product in a new market, so the business association needs to keep the price of the tide detergent average in the market.This will additionally help the corporation to attract large amount of regular consumersin the market.
In order to increase the sales rate of the tide detergent, the corporation needs use unique promotional strategies to grab the concentration of large targeted consumers in the market. East et al. (2013) commented that through this effectual initiative, the business association can easily influence the purchasing behavior of the customers in the marketplace.
In order to enhance sales, the company also needs to manufacture the product in different places of one particular area (Fahy and Jobber 2012). In addition, it will also help the customers to collect the goods and services from the nearest stores.
The connivance (physical evidence) of the customers, the company needs to sell the creation and services in the market. This will help the corporation to enhance the market as well as sales of the product in the marketplace (Wilson and Gilligan 2012).
Before launching the new product and services in the market, the big business organization needs to assess the choice and preferences of the patrons(people) in the market. This will help the company to put into practiceuseful strategies to attract the customers from the new market (Ryan 2014).
Fill and Turnbull (2016) commented that by implementing effective process, the business organization could easily manage and operate every operation and activity effectively in the market. This will additionally help P&G to grow the business in the accurate way in the new market.
The Ansoff matrix is an effective planning tool, which provides an effective framework to the business organization (Ryan 2014). This framework helps the company to incorporate proper strategies for developing the business in the future. Hill (2015) put forward that Ansoff matrix mainly deals with four major elements namely market penetration, market development, product development and diversification.
Figure: Ansoff Matrix
To enter the new Malaysian market, the business organization needs to incorporate effective strategies to place the product and services effectively in the marketplace. This will help the corporation to magnetize the large amount of regular consumers in the market. By using unique techniques and procedure, the business organization needs develop the position of the product in the market (Demetriou 2015).
By incorporating proper promotional strategies the business organization can easily create awareness product among the targeted customers in the market. This will help the corporation to develop the new product in the market. Moreover, it will also help to attract both the new as well as the accessible customers in the market.
In order to increase the sales of the Tide detergent, the business organization needs to diversify the product and services in the market. It will also help the corporation to deliver the manufactured goods to the individual consumers in the market. On the other hand, it will also help P&G to amplify the sales as well as the market share of the company in the competitive market.
In the present scenario, it has become difficult to retain the customers in the market. With the availability of the product and services, the choices of the customers are rapidly changing in the market (Boone and Kurtz 2013). AIDA is an effective tool for marketing. Nevertheless, in this competitive market it has become much tough for the organization to grab attention of a large amount of customers in the market. AIDA mainly deals with four components namely attention, interest, desire and action (Murdy and Pike 2012).
Figure: AIDA Model
In order to increase the sales rate of Tide detergent in the Malaysian market, P&G needs to incorporate this particular model. By using effective promotional tools and strategies, the organization can easily create awareness among the targeted regulars in the market (Lorette 2014). This will directly help the corporation to improve the sales of the product services in the market. On the other, by using unique strategies the company needs to grow the interest of the customers towards the new product (Tide). The regional manager can use effective promotional activities to grow the interest and the purchasing behavior of the targeted buyers in the market.
It somehow influences the purchasing performance of the customers in the market. The market scenario and the trends showcase that the business association needs to espouse marketing strategies in the organization. It influences the customers to purchase the Tide compared to the other existing creation and services in the market. This influences the customers to take effectual actions to acquire the product and services from the market. Additionally it helps the company to raise the sales as well as the market share of the product in the market.
Before increasing the business in the new market, the big business organization wishes to focus much more on the industry. In order to analyze the exact market situation the business organization needs to focus on the porters five forces. There are mainly five forces namely, threats of new entrants , threats of the substitute, bargaining power of the buyers, bargaining power of the suppliers and the industry rivalry (Shimp and Andrews 2013). Presently, the regional manager has found that there are several other companies, which are entering in the Malaysian market to extend the business in the market (O’shaughnessy 2014). As per the new product launch, the customers are rapidly switching from one product to the other (Rin, Persil and Uniliver Purex) in the market.
In the case of P&G, the bargaining power of the customers is much dominating. The customers are not that satisfied with the quality of the product and services, thus they easily switch over from one brand to the other. Nevertheless, the bargaining power of the suppliers is less compared to the power of the buyers. From the market survey the manager has found that the rivalry company of P&G is Johnson & Johnson, Uniliver and Kimberly-Clark Corporation. The marketing scenario also highlights that the company needs to incorporate strategies and marketing plan within the business organization.
Figure: Marketing framework
Here Shimp and Andrews (2013) has put forward that before launching the manufactured goods in the market, the business organization needs to develop the organizational goals and objectives. Moreover, by keeping in mind the organizational goal, P&G needs to incorporate effective strategies within the organization. It will help to manage every operation in the proper way. In the current situation, the organization also needs to identify the targeted customers in the marketplace.
In order to grab the attention of the customers, the company also wants to offer special discounts to the customers. By implementing new strategies, the company can easily develop the brand image among the targeted customers in the market. In order to grab the attention of the buyers, proper medium should be used in order to reach the targeted customers at the accurate time and place. Nevertheless, the company also needs to adopt marketing strategies to boost the sales of the existing creation in the new market. The achievement and the breakdown of the business organization are exclusively depends on the marketing strategies and the technique implemented by the company in the market (Pride and Ferrell 2016). The Malaysian market is considered as one of the largest for developing the business and the market share (Pride and Ferrell 2016.).
Here the regional manager has found that the marketing trends are constantly changing with the change in the demand and the choices of the targeted regulars in the market. The customers have become much conscious and aware of the marketing trends and the approaches in the market. The customers also have sufficient knowledge about the new media marketing trends in the market. By analyzing the market analysis, P&G needs to develop new marketing plan for expanding the business in the new market.
Effective marketing strategies help the business organization to mature and enlarge the business in the cutthroat market (Clancy et al. 2013). In order to enhance the sales of the tide detergent, the big business organization needs to conduct effective awareness programs to achieve a large number of targeted patrons in the marketplace. This will help the business organization to directly influence the purchasing behavior of the customers in the market.
Effective marketing helps to increase brand awareness in the market (Shimp and Andrews, 2013). This helps the business association to acquire unique position in the viable market. Through this helpful approach, the big business organization can easily increase the sales of the existing product in the new market.
Word of mouth marketing:
The market process has drastically changed in these days. The word of mouth is considered as ‘the’ most effective marketing strategy (Bejou and Palmer 2013). By focusing more on this strategy, the business organization can easily create awareness among the new-targeted customers in Malaysia and South East Asia. Additionally, the word of mouth marketing also influences the buying behavior of the consumers in the market. This will directly help P&G to improve the sales of the Tide detergent in the market.
Viral marketing:
By using effective ways, the business organization constantly delivers creative ideas to capture the interest of the large targeted consumers in the market (Wirtz et al. 2014). However, it helps the company to retain the customers in the market. In comparing with the present scenario, the viral marketing also helps the organization to acquire a unique position in the minds of the customers. P&G needs to focus on this marketing strategy so that it can easily get in touch with the large amount of consumers in the market. Nevertheless, this marketing helps the business organization to gain additional benefit compared to the other existing companies in the market.
Online marketing:
In the current situation most of the business organization gives much preferences on the online marketing. Online marketing is generally considered as the modern marketing. This is generally done with the help of internet. By using simple strategies, P&G can easily create awareness among the customers in the market.
Direct marketing:
In order to get success in the competitive marketplace, the big business organization needs to focus on advertising as well as marketing. These are the two main effective tools by which the business organization can grab the attention of the existing and the new customers in the market. Direct marketing can be done through various ways for example the company can reach the customer directly for door-to-door selling or distributing the sample of the product in the market. Through this effective advancement, the business organization can reach the customers directly in the competitive market (Carola and Money 2015). As this is a new market, P&G also needs to incorporate strategies for direct marketing.
Social media marketing:
In the 21st century, the social media advertising is considered a one of the fastest and effective marketing tool (Murdy and Pike 2012). It has been found that in the present scenario, the common mass is much inclined towards the social media marketing. So in order to enhance the sales rate of Tide detergent P&G needs to focus on the social media-marketing tool. Through this, the business organization can reach large amount of consumers at any time (Fill and Turnbull 2016). The social media marketing is mainly done through Facebook, Twitter, Instagram and LinkedIn.
Promotional marketing:
In order to grab the attention of the customers, the big business organization needs to conduct promotional activities to manipulate the buying actions of the consumers in the market. Additionally, through this approach the business organization can also gain additional benefit in the market. Demetriou (2015) put forward that by arranging various contests and distributing coupons, P&G can easily manipulate the purchasing behavior of the targeted regulars in the marketplace.
In order to expand the selling more vastly in the new marketplace, the business association needs to effectively monitor and control every business operation and activities of the organization. Through this initiative, P&G can easily grab different marketing opportunities. With the span of time, different business organizations are using different kinds of tactics to retain the targeted consumers in the market. Moreover, as per the marketing trends, the business organization also needs to incorporate new strategies in order to maintain and hold the position in the Malaysian and South East Asia market. The achievement and the breakdown of the business organization is directly depend on the how the organization can effectively manage every activity in the competitive market.
The market situation showcase that P&G also need to balance and control every operations and activities of the organization. On the other hand, it has been also found that for performing the activities the business organization needs to incorporate new strategies and techniques within the company (Czinkota and Ronkainen 2012). Nevertheless, the business organization also needs to give much emphasis on the actual need and preferences of the patrons in order to develop the industry in the new market. As per the feedback of the customers, the business association needs to put into operation the changes in the organization. Moreover, by taking effective measure and actions the business organization can easily control all the activities and operations in the market.
7.1Conclusion and Recommendation:
From this study, it can be concluded that the presently due to declining share market the business organization is trying to enlarge the selling in the new market (Malaysia and South East Asia). In order to inflate and widen the commerce in the market, the big business organization needs to implement effective marking plan as well as marketing strategies and techniques for raising the business in the market. However, there are several rivals of P&G in the global market, which are giving tough competition to the company. As the new market trend, the business organization needs to grow the production in the marketplace. This will help the corporation to overcome downturn of the product line in the market.
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