Watawala Plantations Plc Is A Pioneer Tea Plantation Marketing Essay

Watawala Plantations Plc Is A Pioneer tea Plantation merchandise EssayThe befitting application and death penalty of a strategical merchandising invention is essential to the success of any p arntage. A gild base have a perfect mathematical product, yet without proper placement, identifying an audience and a merchandise stick out appropriate bodily function would non be up to(p) to mart its products to consumers.Watawala Plantations PLC was sufficient to convert an activity performed in the home of technical success through the implementation and respect of its strategic patterns. The political party was able to convince consumers that the store offers more than just tea leaf, that rather a rich experience they should have on a recurring basis. The company was able to translate this consumer experience of its products for an extremely lucrative.This strategic trade plan depart deal the merchandise dodging implemented by Watawala Plantations PLC, and valua te the plan of the company in the on firing grocerying strategies including grocery store fractionation, targeting strategies, rateing, the rivalrous environment, and various other factors that affect its tradeing schema including external large environmental forces.1.0 Introductionat once in the rapidly changing corporal bena one of the frequently spoken subject is be approach shot the strategic Market Planning and many expensive reference materials screw be jetly seen in bookstores, libraries and via online sources. But what exactly is Strategic marketing Plan, how to assess the external macro environment? What are the impacts of political, economic, socio-cultural and scientific factors have on developing Strategic merchandise Plan? These are some of the common questions to be answered.Without a clear dodge the organization is like a ship without a rudder, going around in circles. This strategic marting plan prepared to Watawala Plantations PLC is essential for the newcomer Oolong tea to the merchandise. Oolong Tea is an sophisticated product that is close to the tea and dingy tea, and this product lowlife be a cleaner body. This strategic securities industryplaceing plan will discuss the merchandising strategy implemented by Watawala Plantations PLC.It is very much explicit, that the strategic selling plan for Watawala Plantations PLC has been successfully completed after gaining a developed understanding from the various reliable sources where the information have been gathered.I powerfully feel that the information that I have provided in this strategic marketing plan will definitely satisfy the assessment criteria. Last but not the least I wish to mention that, at the crush of my knowledge, Ive acknowledged all the sources which I did refer to complete this strategic marketing plan.2.0 Watawala Plantations An Overview2.1 Company BackgroundWatawala Plantations PLC is a pioneer tea plantation and marketing company in Sri Lank a. This is a listed company is a joint adventure with the legendary Tata Group, which owns the No. 1 tea brand in Britain Tetley. Today Watawala plantations PLC has undertaken the management of selected 18 prime tea estates in all elevations of low-rise, medium-and high-grown on with a pair of rubber eraser plantations, and the Sri Lankas only palm embrocate pulverisation and employs over 15,000 volume.With the joint venture in Tata Tea India, Watawala Plantations PLC has accepted the gainsay of converting trade and productivity in to competition. The unique advantage of three modify viz. crops, tea, rubber and Palm has make the company to move in different directions in edges of involvement with the daily support of sight in Sri Lanka. conglomeration area of plantations is divided region 12,442.13 hectares, of which 41% is the tea, rubber is 18% and 8% less for the cultivation of oil palm. About 7% is separate for firewood and the rest is uncultivated and remains as t he areas of conservation, forestry, spices, vegetable cultivation, jungle, buildings, roads, etc.tera2.2 Mission, Vision Corporate economic values2.2.1Mission educational activityAccording to David (1995, p.88) a business mission can be classified as the foundation for priorities, strategies, plans, and organise assignment. In other words it can be said as the starting point for the creation of managerial jobs and, above all, for the design of managerial structures. A mission statement which focuses on a businesss current activities reveals the long-term fancy of an organization in terms of what it wants to be and whom it wants to serve.The Mission Statement of Watawala Plantations PLCBy the year 2015 we will get closer to our end user locally and internationally byAdding value to our products (tea, rubber, palm oil)Being commit to producing quality productsUsing our own brandFully utilize the expert advancements and land resources in an eco-friendly mannerTo respect and understand the community in which we do businessCelebrate the diversity and the power of our people trance continuing to,Be the preferred supplier in tea, rubber, palm oil globallyEnhance return to our share fit iners2.2.2 VisionA strategic vision concerns a firms future business channel that is where we are going. Companys vision defines the coveted or incourseed future state of an organization or company in respect of its basic objectives. Vision is a long-term sometimes describing how the organization wants the world must stay where it operates. The primary role of a companys vision is to establish a dream to all its employees and stake holders to acquire the companys corporate goals.The Vision Statement of Watawala Plantations PLCWe will take a path no one has walked sooner and many will want to save up an eye on2.2.3 Core ValuesWatawala Plantations willEnsure that our business is always client focused and that we continuously strive to suffer their bespeaks with the hig hest level of service.Be pull to offering the highest quality products at all times to our customers globally.Recognize and trigger our employees who are the live wire of the organization, to achieve their fullest potential and provide adjoin opportunities regardless of gender, religion, race or colour to excel in their work.Value transparency and honesty in everything we do.Contribute positively to the long term sustainability and development of the external community and the environment we operate in.Be mod and strive for continuous improvement in whatever we do.Recognize that our shareholders are of utmost importance to us and ensure the best possible returns to them.3.0 output Description Oolong TeaThere are hundreds of different varieties of tea made from tea plant, Camellia Sinensis, but almost all of them is divided into three bighearteder categories which are respectively black teas, which are fully oxidized before drying a conscientious fermentation process, leafy vegetable tea is dried quicklyly, dapple non-oxidized oolong, which is somewhere in the middle and combine the best features of two. Oolong is partially fermented (semi-fermented) tea, which is cognize for its rich admiration and pleasant lasting aftertaste. Oolong is classified as black or dark green tea which is baked longer than unripened Oolongs. Green Oolong is usually smells stronger as Dark Oolong is usually has a stronger aftertaste. special(a) oven baked Oolong is only an intermediate dark green.4.0 Construction of grind away A Situational analytic thinkingAccording to David (2004, pp.156-158) no organization is equally strong or weak in all its functional areas. Objectives and strategies are established with the intention of capitalizing upon internal strengths and overcoming weaknesses. The overall evaluation of a companys strength, weaknesses, opportunities, and threats are called as the SWOT analysis.A SWOT analysis is used as a role model to help the firm to develop its overall corporate, marketing, or product strategies. Strengths and Weaknesses are internal factors, which are operatelable by the company. Whereas, Opportunities threats are external factors tend to be uncontrollable by the organization. The SWOT analysis of the Watawala Plantations PLC can be illustrated as followsStrengthsUniqueness of the product Benefits of product are outstanding and not offered by any other product/company.Brand awareness high gear quality tea gamy quality serviceExpertise on the tea businessEntrepreneurial spirit and commitmentComplete and broad trained staffOpportunitiesCan open new lines of business fortune market tea tolls will stabilizeConsumers are living a more healthy lifestyleConsumers prefer quality products that offer honest valueModern technology in the tea industry will be able to increase productivityGrowth in tea market due to promotional efforts of healthy attributes of teaThreatsSeasonal demandMisperception of tea consumptionC ompetition from coffee shopsLimited number of defenseless materialsUnstable tea supply of high quality tea high up quality tea prices will increase moderatelyTea market is very competitive and relative elastic where strong local competitors such(prenominal) as Lipton, Bogawanthalaweetc.SWOTANALYSISWeaknesses cipher deficitsLess approach path to modern technologies with to Oolong tea manufacturing process5.0 Marketing ObjectivesAll businesses, as a rule, need to set objectives on their own, for the products or services they intend to launch. holdation objectives are important because they focus on specific aims over a period of time and can motivate the staff additionally to meet the set objectives. The marketing intention Watawala Plantations PLC is to grab a 10% market share and to achieve a sales volume worth of SLR 2,500,000 during the current year 2011.6.0 Market segmentation, Target Market and lay6.1 Market partitionAn organization cannot satisfy the needs and wants of all consumers. To do so, may closure in a massive drain in company resources. Segmentation is simply the process of dividing a particular market for a right(a) or service into sections, which display similar characteristics or behavior. There are a number of segmentation variables that allow an organization to divide their market into homogenous bases.There is no single way to segment a market. A good marketer has to try different segmentation methods, either alone or in combination, in modulate to view the market structure clearly. Segmentation can be categorized in to quad major variables. They are geographic, demographic, psychographic and behavioral variables.It has to be clearly understood that Watawala Plantations PLC has declare the demographic segmentation variable to divide the market. In demographic segmentation, the market can be divided in to groups such as age, gender, income, family size, family life cycle, occupation, education, race, religion, generation, nat ionality and social class.But here Watawala Plantations PLC going to consider only the firstly three groups from the demographic variables as described above. It is very much evident that in particular, the demographic segmentation variables have been chosen because of both reasons. peerless is that, customer wants, preferences, and usage rates are often associated with demographic variables and the other is that the demographic variables are easier to esteem.6.2 Target MarketTarget Market is the specific group of customers that a company aims to capture. They have been identified as the people with needs or wants that can be met with the products or services from the company. When evaluating the market segments, Watawala Plantations PLC must look at three major factors. They are segment size growth, segment structural attractiveness, and companys growth. Considering these aspects Watawala Plantations PLC has decided its target group as anybody who is interested in good quality tea. Mass market is the strategy of the company aiming to sell their product to broad market in Spain.6.3 PositioningAfter an organization has selected its target market, the next coif is to decide how it wants to position itself within that chosen segment. A products position is the complex set of perceptions, impressions, and feelings that consumers hold for the particular product compared with the competing products in the market. As marketers, Watawala Plantations PLC not only plan positions that gives our products the greatest advantage in selected target markets, but also we design marketing mixes to create these planned positions. Therefore Watawala Plantations PLC is going market its Oolong Tea under its renowned positioning theme THE ART OF TEA7.0 large Environmental Analysis blighter FactorsAccording to David (2004, p.114) the purpose of an external audit is to develop a predetermined list of opportunities that could benefit the firm and threats that should be avoide d. The Relationship between Key External Forces and an organization can be illustrated as followsTherefore while formulating business strategies, Watawala Plantations PLC should be able to answer towards the external macro environmental factors in order to take the level best advantage of external opportunities or that minimize the impact of potential threats.PEST analysis is a framework used to scan the external macro-environment, in which a firm operates. It is an important aspect to a company, in order to begin the marketing process. The following gird represents the analysis of the political, economic, socio-cultural and technological factors Watawala Plantations PLC has to consider before deciding either Germany or Australia would be potential market to expand the fruity malt loaf product. The grid below examines the political, economic, socio-cultural and technological factors with regard to the potential impact and its relative importance towards Watawala Plantations PLC.PE STAnalysis FactorsPotential ImpactRelativeImportancePolitical FactorsStrict occupation policiesMedium crucialFunding grantsMediumUnimportantLocal squash groupsHighUnimportantGovernment policiesHighImportantPolitical enamourHighImportantEconomic FactorsEconomic structureCommand scrimping prices are determined by the governmentImportantTaxation issuesTotal tax rate is 64% on Profit hypercritical care rates3.0%ImportantInflation rates9.4%ImportantSocio-culturalFactorsConsumer attitudesHighCriticalConsumer opinionsHighCriticalMedia viewsHighImportantBrand imageHighImportantBuying access and movesHighCriticalHealth dispositionHighCriticalReligious factorsMediumImportantTechnological Factors applied science developmentHighImportantResearch fundingMediumImportantRecycling systemsMediumImportant8.0 The Marketing Mix 4PsTo achieve the marketing objectives, the company has to use the marketing controllable elements (4Ps) effectively. A company capacity adopt one or more marketing stra tegies when introducing a product newly. It can set a high or low-level trend for each of its marketing variables, such as price, promotion, dispersion, and product quality. Therefore, the key elements of the marketing mix namely product, price, place (distribution) and promotion have to be utilised Watawala Plantations PLC as follows8.1 ProductA good Oolong tea is refreshing and scrumptious the Oolong spectrum has a range of aromas and tastes quite different from what you get with green or black tea. It is difficult to obtain reliable figures on the caffeine content, but its probably not entirely wrong to say that the cup of Oolong average, considerably mixed, has about half as much caffeine as a cup of black tea and about half again as much as a cup of green tea.The difference in the main comes from the brewing temperature, not the composition of the tea itself. Although Oolong has the characteristics of black and green tea, the taste has little in common. If not overcooked, m ost Oolong seems almost no accompany of bitterness, and generally a stronger aroma than any black or green tea. Like other tea, Oolong is rich in antioxidants called polyphenols. These help prevent cancer, keep your heart healthy and aid general well-being.8.2 PricePrice can be simply defined as the amount of money charged for a product or a service provided. A companys set decisions are affected either by internal factors relating to the company or external environmental factors or both.The major external environmental factor, which is going to affect the pricing decision, of Watawala Plantations PLC depends on the competitors costs, prices and their possible reactions in relation to the price fixing modes of Watawala Plantations PLC. A consumer when deciding to purchase our Watawala Plantations PLCs Oolong Tea, at the first guinea pig evaluate the price and value of other products, which compete with Watawala Plantations PLCs products.Considering these pricing factors Watawala Plantations PLC should to apply the market penetration pricing strategy, meaning, to fix a low initial price at the introduction stage, in order to penetrate the market successfully at the outset. This is due to the fact that, it is an ideal pricing strategy which can be applied with success at the introductory stage itself, to attract a large number of buyers quickly and effectively so as to win a large market share, in a short period of time. Upon successful launch of Oolong tea, Watawala Plantations PLC can adapt skim strategy.8.3 Place (distribution)The distribution modes will cover all areas and all consumers coming under the target group. This is certain as the popularity grows with the demand. A competent distribution strategy will enhance the chances of attaining the goal with easy reach. Through maintaining proper contacts and application of the experience and specialization in the trade and through insuring a steady supply of goods without shortages the reach is assured w ith satisfactory results.Over the engagement of distributors and agents for the purpose of popularizing the product, requirements and competence in promotion, experience, market familiarity in relation to the productsetc. In addition to the distributors, a careful consideration will be given towards selecting the distribution strategy. In this case an intensive distribution strategy will be utilized where it is expected to bring in quick and satisfactory results.8.4 PromotionPromotion is one of the key elements in the marketing mix. The intention now is to inform, persuade and to familiarize Oolong tea to the market and to vulgarise it. In this regard sales promotion and pre publicity are two areas, which are related to public relations. To target the group, pre publicity is essential via the media namely the electronic and the print. It is through proper and efficient advertising methods, the target group mainly the consumers would be reached easily which we intend to employ. The channels, which we hope to utilize both in TV and Radio in addition to the press, will be chosen based on their popularity and result-oriented methods adopted. In this regard a careful consideration would be given to economize the expenditure for the promotion purpose. In addition to the above method e-marketing strategy will also be utilized via social media networks such as Twitter, Facebook. YouTubeetc.9.0 Proposed Marketing BudgetA financial plan will be carried out since the universe of the strategic marketing plan in order to determine the fundamental amount of capital needed for each marketing related activity and to be completed within stipulated investment limit, which allows the marketing manager to measure the past with the forecasts actually spent during the project. Figure A illustrates the proposed marketing cipher for Watawala Plantations PLC.Figure ADescriptionAmount(SLR)Amount(SLR)Estimated Sales10,000,000(-) Estimated Expenses sensible Materials500,000Sales Distribution400,000Financial Expenses200,000HR Administrative Expenses150,000Production salute1,450,000Promotional Expenses (posters, banners, advertisementsetc.)4,500,000Transportation300,000Estimated total expenses(7,500,000)Estimated profit2,500,00010.0 Evaluation and averWhen involving in introducing a new product into the market, it becomes necessary to plan the overall surgery in advance, in addition to budgetary provision to carry anterior the objective. The controlling and monitoring aspects are two areas, which need constant attention. each deviation will tend to upset a proper implementation of this strategic marketing plan. Therefore the following action plan can be utilized by Watawala Plantations PLC in order to evaluate and control the strategic marketing activities.Marketing StrategyActionResponsibilityControl and EvaluationMethodologyMarketingCommunicationCampaignAdvertisementon TV,internet, radio,newspapers,ad campaigns onthe streetsMarketingManagers, Marketin g ExecutivesMonthlySales FiguresMarketingPromotionCampaignSet Up SpecialStand for person-to-personSellingMarketingManagers, Salesmanagers,countinger staffSupervisorsCount Customersand reminderSales per MonthOrganizePromotionalEvent Major CitiesMarketingManagers,Supervisors,HostessesCountParticipantsPromotionaloffers e.g.free gifts withpurchaseMarketingManagers,ProductionManagersProducedyieldFiguresDistribution ofFreeSamples toCustomersAt cash pointMarketingManagers,Cashiers,SupervisorsCountCustomers