Business Plan of an Icecream Yogurt "yog ice"
its basically a business paln of an icecream yougurt named as yog ice...
The “Unify Company” is a desire future of our group consisting:
“Unify” a newly established company with its assessable goals presents its innovative product “Yog-Ice” with fresh features.
Yog-Ice with yogurt flavor and chunks……..Soon will be available in your area @ affordable prices.
DEDICATION TO, OUR RESPECTED PROF & X-DEAN LATE MANZOOR-UL-ISLAM
& OUR FELLOWS Late Wajiha Naz, Khawar Khan, & Afaque Ahmed
[We extremely want to dedicate our report to all of them, Sometimes ago they was the part of our institute but two month before they have left this world, “May God rest their soles in the heaven” (Aameen)]
In this report we provide a business plan of the product which will launch by unify company that is flavored yogurt with the specialty of having chunks of the same fruit as the flavor in the Pakistani market. The business will serve healthy and premium Yog-Ice, to the generally upscale target market, Based on the competitive analysis presented in this plan. We started plan with the focus of the product and trend, which will set by the product, and the whole analysis of the marketing mix comprises of competitors whole scenario. Further we discuss marketing mix of our product .Our target market, Positioning, consumer and all. We give a brief discussion on SWOT analysis which covers strength, weakness opportunities and threats of the newly establish product by unify. Moreover long term objectives and strength to achieve goal s and plans of the company and the other thing which was also under discussion was evaluation plan. Our distinctive logo, its reputation for fast service and only the freshest foods, plus its slogan, “Choice of new generation” will provide a distinctive competitive edge. In short the report covers whole business plan of the newly establish product of the company unify.
=============================================== As well as, the report has been completed. We hope that we have covered all the aspects necessary to be covered in the report and as per directed by our course instructor Sir Wasif Wajid. The matter is arranged in appropriate way to facilitate the reader. We give a brief discussion on newly established product “Yog-Ice”. Product features market, competitors and SWOT analysis which cover strength, weaknesses, opportunities and threats of Yog-Ice. Moreover long term objectives and strength to achieve goal s and plans of the company and the other thing which was also under discussion was evaluation plan In short the report covers whole business plan of the newly establish product of the company unify. Enjoy Reading!
All our praises are for Allah the Almighty, who bestowed potentially upon us to accomplish this report successfully. We have a deep sense of gratitude to my honorable teacher Sir Wasif Wajid for his generous initiation, cooperation & guidance in writing this report. It is because of him that we have been able to compile the information collected on the given topic and also present it in a comprehensible form. We are also thankful of our all group members for their hard working and cooperation each other without all of this we couldn’t able to do all of this. Sincerely: BBa (v), sec “C”
=============================================== Introduction of “Yog-Ice” * * * *
PRODUCT TEST SPECIALTY TARGET MARKET
ANALYSIS - current situation only * THE MARKET ANALYSIS * COMPETITORS ANALYSIS SWOT analysis * * * *
STRENGTHS WEAKNESSES OPPORTUNITIES THREATS
Objectives of marketing plan * * *
FOCUS TREND ACTION PLAN
Marketing Strategies * * * * *
PRODUCT STRATEGY PRICING STRATEGY DISTRIBUTION STRATEGY PROMOTIONAL STRATEGY
====================== PRODUCT: Flavored yogurt with the specialty of having chunks of the same fruit TASTE OFFERED: No of flavors are offered by unify: • • • • • • • •
Vanilla Chocolate Butter Pecan Strawberry Pineapple Mango Apple Blue berry
SPECIALTY: People love to eat tasty, healthy and fresh food. So, The Specialty in the product is its taste like ice cream very smooth. TARGET MARKET: Our target would be the all age group people but by above analysis we realize that youngster and children love to eat ice cream so our special focus is to attract the:
Children & Youngster
=============================================== MARKET ANALYSIS: Market analysis is favorable toward the ice cream business in the Pakistan. According to research, and advisory the overall ice cream market is expected to grow. Ice cream is a popular indulgence, and people will spend money for such a treat. The Unify has identified an indulgence-in-moderation buying style with a conservative approach to most purchases. In short, the general market analysis shows that “healthy” and “premium” ice cream/yogurt sales are on the increase and will continue to increase. Further, the target market for these products is kids & youngster. The market analysis also reveals that it is highly desirable to promote Yog-Ice in sense to beat competitors. The market analysis identified middle and upper income groups as desirable target markets, what is the growth pattern in Pakistan these groups? Table 1 presents informative statistics. TABLE 1 Number and Percentage Increases in Pakistan Families by Income Groups, 2002 to 2006 Years
Note: Family is estimated to be 4 persons. Source: www.fita.org/countries/pakistan.html
COMPETITORS’ ANALYSIS: YOG-ICE is in the introductory phase. The product has low numbers of competitors and local manufactures in market and the present competitors has very low promotional activities if we say that they have zero rate of promotional activities so it will be a fair fact. (This statement is just about that competitors who offer the yogurt flavored ice cream).The ice cream market in Pakistan is unsaturated for new comers. Competition would be tough in the future. The existence competitors in yogurt flavored ice cream field are: • •
The following graph showing the competition between existence competitors:
Source: www.paki.biz/site/pakistan-igloofun-99127 www.reviewstream.com/reviews
It shows that most of customer prefers to buy or igloo’s product.
STRENGHT: • • • •
Ice cream taste Distinct from competitor Customers strongly like it High promotional activities
WEAKNESSES: • • • •
Low financing Low investment New company in the market Low profit because product is in the introductory phase so the promotional activities are very high therefore the cost is more than the profit
OPPORTUNITIES: • • •
Customers strongly like our product Less numbers of competitors Much demand for innovative products
• • •
Unsaturated market Potential for new customers Cost of core raw material (MILK) is increasing day by day which ultimately makes the cost high
=============================================== OUR OBJECTIVE AND GOAL: To beat all the existing and new coming competitors of market and serve the customers wants as demand time to time. FOUCUS: Our focus will be on the quality of the product to maintain it times to time. When the product will undergo different changes but the quality of the product will always under consider. TREND: This is basically a yogurt but the different trend is, it will be ice-cream flavor so everybody loves to have it especially children and teenagers so they will get nutrition with taste. ACTION PLAN: • • • •
High motivation strategy towards employee. Team collaboration. Incentives to employees. Attract the employee while implementing the plan.
We will consider these points to motivate our employees to achieve the target so they can put their whole efforts and consumption of time will also be minimized.
========================================================= BUSINESS STRATEGY: All marketing strategy is built on STP segmentation, targeting and positioning a company discovered different needs and groups in marker place targets those needs and groups that it can satisfied in the superior way, and then position its offering so, that the target market recognize the company distinctive offering and Image. If a company does a poor job of positioning the market will be confuse as to what to expect if a company can does an excellent job of positioning then it can work out the rest of its marketing planning and differentiation from its positioning strategy. Thus the above strategy is that we sale our product to the children and the youngsters, and those people belong to middle class and upper and lower middle class. PRODUCT STRATEGY: Internal features: • • • •
Chunks of the same fruit as the flavor In chocolate flavor the all type cups have a thick layer of chocolate with chocolate chips It is yogurt but in taste of ice cream Smooth and mild as cream
A wide range of tastes i.e., Chocolate, strawberry, pineapple, blueberry, apple, mango, butter pecan and vanilla.
External features: •
Attraction : attractive colors and features for children and youngsters. • Sizes : YOG-ICE will be available in different shapes and three sizes i.e., mini, medium and family pack. Affordability : the prices of all sizes are very suitable.
PRICE STRATEGY: Highest Rate (RS. 60-100)
Lowest Rate (RS. 10-20) DISTRIBUTION STRATEGY: • • • • • •
All markets Departmental stores Wholesale shops Retail shops Fast food centers School colleges and university cafeteria
• • • • • •
Mobile promotions Advertisement on the all type different channels (private and public both) News prints media Online (polling, mail marketing) Hoarding Posters or fliers and billboards
Promotional activities are highly appreciable because we want make the peoples aware form our product.