Marketing process and planning

Assignment 3
M.kugan
2001149

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Contents

Introduction 03
Strategic marketing 03
plan
New product 04
Clear and smart 04
Situational analysis 05
SWOT and PESTEL 06
analysis
5c analysis 07
Customer analysis 07
Articulation of new 08
product
Extended marketing 09
mix
Marketing budget 10
Return on marketing 11
investment
Customer lifetime value 11
Media plan 12
Recommendations for 13
keells super
Quantitative and 13
Qualitative research
Tactical actions 14
References 15

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Introduction

Keells super is one of the subsidiaries of John keells holdings, and a leading supermarket chain in the
Sri Lankan supermarket industry. The first store of keells super was established in 1991 December at
the basement of liberty plaza and currently over 100 stores opened with in the country (echelon,2019).

Vision: Our passion is to deliver pleasure and nutrition throughout peoples lives, through exciting and
superior products, whenever and wherever they choose to eat and drink

Strategic marketing plan

Strategic marketing plan is a comprehensive document that outlines the strategies and tactics to be
taken to achieve organizational goals and marketing goals. This is a crucial part of a company for their
success. Keells super must have a strategic marketing plan made according to their vision and goals,
this helps firms to increase their revenue, profits , brand visibility and etc…(indeed, 2021). Their
several steps for a firm to have a strategic marketing plan this includes
• Situational analysis
• Marketing objectives
• Target audience
• Marketing mix
• Implementation and budget
• Measurement and evaluation

A supermarket chain like keells super will have a corporate strategy in order to focus on their long
term objectives, this may be expansion into new markets, diversifying its product offering to
customer, advance in the supply chain, invest in technology, improve efficiency and customer
experience.
Strategic marketing plan helps corporate strategy and objectives of a firm by providing a strategic
route towards company’s marketing effort. This marketing plan would align with the company’s
corporate strategy and objective to achieve the goals. Keells super corporate strategy is to expand into
new markets this can be done in a marketing plan this can include, targeted advertising camapaign,
promotions , events and also partnerships with local entrepreneurs, this will result in Keells super to
expand in a new market as well achieve their goals.

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New product

Keells super can can introduce vegan meat to attract vegan as well non vegan consumers. This
product will enter the market as premium but as well this could have huge demand in most of the
south Asian countries specially in Sri Lanka, India and Nepal. The demand has recently raised due to
people moving towards healthy diets, ethical and environmental reasons. Currently vegan meet is only
available to the wealthiest people because of higher price and lower quantity, keells super can gain
competitive advantage if they produce vegan meet in larger quantity, this also makes keells super to
gain economies of scale which can make people to buy it due to lower price in premium segment.
Introducing new product to the market makes keells super to have more profit, increase in brand
image as well to achieve their corporate goals. Keells super has a strong reputation and brand
awareness in the local market, an introduction of vegan meet needs to be released with a proper
strategic marketing plan, as well the product is a unique and an innovative against the competitors.
Introducing vegan meet doesn’t involve in any product cannibalism as this would be a unique product
in the entire market. Vegan meat is made from variety of ingredients such as soy, textured vegetable
protein, wheat gluten and etc… which is purely vegetarian (your daily vegan, 2022).

Clear and smart marketing objectives

S-specific
Keells super need to be specific on increasing brand awareness by releasing the new product vegan
meat among their target consumers with in a specific period of time, for example keells super can set
a target of increase brand awareness of 20% within 12 month of introduction.
M-measurable
As a measurable marketing objective for keells super on introducing vegan meat, keells super can
expect to increase their sale of vegan meat by 15% within next 6 month, through promotions, target
product placement and a successful advertising campaign.
A-achievable
The plans need to be set on an achievable targets for a company, keells super can enhance their
reputation on producing high quality plant based foods by conducting surveys and research on
customer behavior and market trend within 6 month of lunching new product to Improve customer
experience and increase the portfolio.
R-relevant
Keells super can conduct new promotion ideas like discount sale, bundle packs and etc… to make
improve customer involvement and loyalty through social media marketing and in store campaigns.

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T-time bounding
Launching vegan meat into the markets make keells super to stay ahead against their competitors, as
well keells super can have a specific goal as an example they can set a target to invent minimum of 2
new vegan meat to the market within next 5 years.

By setting up SMART marketing objective keells super can track their progress on their new product
launch on vegan meat, they can ensure that their marketing strategies is aligned to their goals, as they
can track the progress they can adjustments to achieve it.

Situational analysis

• Market audit

Market audit is a systematic, objective review of an organizations marketing functions to verify

marketing systems are accurate, relevant, reliable and aligned with defined process and best practices.
Using marketing audit firms can find out how effective the firms efforts are, where the company is
lacking and how the business can improve the return on investment ( mail chimp, 2023). Keells super
can use marketing audit to identify areas to improve on their weakness and align with business
objectives and goals. Auditing can be done externally by a public charted accountant or internally of
an organization.

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SWOT and PESTEL analysis

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5c analysis

5c analysis is a tool used to access a companies marketing framework, this analyzes the operating
environment of a company. This can provide insight into key drivers of success as well as the risk
exposure to various environmental factor. 5cs are the customers, company, competitors, collaborate,
and context (CFI,2022). Keells super can use this to access and Analyse the internal and external
environment of the vegan product line.
• Company
The key issue to identify in 5c company is on the sustainable competitive advantage. Keells
super producing a new product to the entire market makes them to achieve competitive
advantage as well to dominate the market. Keells super can produce vegan meat in larger
quantities and with good quality to achieve economies of scale.
• Competitors
The firms who produce the same product in the industry will compete with keells super, as the
main competitors for keells super are cargills, aprico supermarkets and laugfs. As the new
product introduction will be on vegan meat, there is not enough manufacturers in the market ,
this makes keells be a step ahead against the customers.
• Customers
Main reason for a product to be made is to be sold to customers, keells super analyses the
demand for vegan meat in the market by customers before producing. Production is calculated
according to three main sizes, total available markets, serviceable available market and
serviceable obtainable market.
• Collaborators
Collaborators are entities that allows or enhance a companies ability to provide its particular
goods or services in the way that it does (CFI,2022). Collaborators and partnerships reduces
the cost and investment for keells super in producing vegan meat , this can impact keells
super on rising their growth of production and revenue.
• Context
The context of a business is mostly analyzed with the help of PESTEL analysis of the vegan
product , PESTEL analysis is described above.

Customer analysis
Customer analysis is identifying business customers and understanding their needs to help
professionals market the right product to them (indeed, 2022). This is an important part for a
marketing plan of a business, this section guides on how to achieve its goals and revenue
(indeed,2022). In recent years the demand for vegan products as risen all over the world, this is due to

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going concern over ethical reason, carbon emissions and health factors. To better understand the
market for vegan meat keells super can conduct a customer analysis , this can involve in :
❖ Surveying customers
❖ Analyzing purchasing data
❖ Engaging with vegan community
❖ Competitor analysis

This findings make keels super on a basic detail of customer preferences, what price , distribution
channels to use and how to promote the product.

Articulation of the new product value-proposition

Certain factors impact the value of new product proposition, keells super is launching a new
innovation in producing vegan meat to the market, this will give keells super to achieve competitive
advantages compared to their customers, but the certain factors will Impact the value of the product,
this will be due the,
➢ Market trend, the market for vegan products are rising due to several concerns in the way on
environmental and also due to health factors, keells super has a potential to capture the market
for vegan meat in most regions locally or even internationally, as they offer customers high
quality and alternative product for meat.
➢ Consumer demand, the current demand for vegan meat is so high, specially in regions like
Tamil Nadu in India and some other parts across Sri Lanka are filled with vegan eaters, this
makes keells a good opportunity to fill the demand with their supply by providing high
quality product at good taste and flavors
➢ Competition, keells super doesn’t need to worry about competition currently in the local
market Sri Lanka, as there are very few who produces vegan meat but with low quality
taste,keells super needs to be different from other producers by producing product which
exactly replaces meat from vegan meat.
There are also other factors which involve in the product value proposition, but these findings will
provide keells a better decision making on regarding the launch, potential risks in future and the
marketing.

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Extended marketing mix for the new product

Marketing mix is a set of actions or tactics a company uses to promote the company’s brand and
product (economic times,2023). A typical marketing mix contains of 4ps which is price, place,
product and promotion. Extended marketing mix contains of 4 additional ps which includes people,
process, physical evidence and performance. Keells super can consider in analyzing extended
marketing mix for the new product,
• Product
Keells supers new launch will be on vegan meat, this can be in any form as burgers, nuggets
in a steak way, sausage and etc… but fully made out of vegetarian plants for vegan consumers
• Price
Vegan meat lacks in supply to meet the demand for the product , which makes the to be a
premium segmented product, but keells super can consider their price to be targets just below
the premium price level to meet most of the income earners but above the mid range price
level. Keells super can use value based pricing strategy for their new product.
• Place
What type of sales can keells super use to sell the product. Most of the premium products are
not available everywhere , keells super can open physical store as well as in online .
Partnerships with food stores and other retailers will make people to find easy to be noticed
the product.
• Promotion
Keells super can use different types of promotional activities to publish the product image,
social media advertising, in store displays, conducting events, promotional activities with
celebrities and etc…
• People
Keells super needs to maintain that their employees are well knowledgeable about the product
by giving training which helps the to transfer the knowledge to the customers as a
promotional activity.
• Process
Keells super can develop a seamless and efficient process for producing, storing and
distributing its vegan product.
• Physical evidence
Keells super can make a separate section for their vegan products in their supermarket which
enables customer to visit the site by the attracting environment which makes customers more
curious about the product.

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 • Performance
A full recording of details sales will be easier for keells super to Analyse their performance on
the new product vegan meat. The company can also Analyse customer satisfaction and loyalty
to find the effectiveness of the marketing mix.

Marketing budget

Marketing budget is a detailed showing of all the money a business intends to spend on marketing
related projects over a quarter or a year. This records an expenses which includes advertising,
sponsored web content, new marketing staff, a registered blog domain, and marketing domain
software (HubSpot,2022).
Keells super is a chain of supermarket in Sri Lanka, has they have decided to a launch a new product
on vegan meat, it’s necessary for keells to prepare a rough marketing budget. This includes them on
the in store promotions, direct mail, influencer marketing, advertising and etc…, keells super need to
Analyse according to their goal and objective when setting up a marketing budget. By allocating
funds for these activities increase the brand reputation of keells super and reach their target customer.
Below an expected marketing budget is shown for keells super on launching vegan meat.
This amount can differ from the final cost after marketing done for this product.

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Return on marketing investment

Return on marketing investment is a KPI measure how much revenue a marketing campaign is
generating compared to the cost of running that campaign (klipfolio, 2023). This can be calculated
using the following equation
ROMI= (revenue generated from marketing initiatives- cost of marketing initiatives) / cost of
marketing initiatives
There are various ways keells super can benchmark the marketing campaign return on marketing
investment, some of the expert advices and rules are;
➢ Oracle, marketers need to calculate the ROMI against the following benchmark, industry
campaign spending, the same month from the previous year ( klipfolio, 2023).
➢ RHYS WILLIAMS, best for marketers to independently benchmark, to Analyse on how you
did last year and last month.
Keells super needs to makes sure some typical factors in order to receive high return on marketing
investment, these are;
▪ Conduct a market research for the product
▪ Outline the marketing objectives
▪ Develop a comprehensive marketing plan
▪ Leverage social media marketing
▪ Offer promotions and discounts
▪ Measure and evaluate the results

By following theses steps keells super can Analyse the outcome and regularly monitor and adjust the
marketing strategy, which will make them to maximize their ROMI.

Customer lifetime value

Customer lifetime value (CLV) this is a business metric on how much the business can generate by an
average customer with their relationship in long term. Key indicators for business to check on CLV is
to use average customer revenue and average profit generated by a customer this shows a clear idea
on how the well the customers are interacted with the business and is your overall marketing plan
working well ( netsuire , 2022). To maximize on customer lifetime value keells super can take certain
strategies and measure these are;
▪ Segmenting customer base by understanding different customers needs and their type
▪ Focus on customer retention
▪ Personalize the customer experience

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 ▪ Upsell and cross sell
▪ Monitor and measure CLV

Media plan

Media planning is a set of outlines on which and where the target audience will be delivered by the
advertising of the product or the company. Media planners analyze on the channels, audience and
advertisement to when and where to advertise the message efficiently and effectively (marketing
evaluations, 2022). To conduct a media plan there are several steps these are;
• Conduct a market analysis
• Preparing the budget
• Setting up media objectives
• Media strategy and development
• Evaluating and following up

Primarily keells target audience would be vegan lovers , this includes middle and upper class people
also the tourists , with focus on urban and suburban ares.
Marketing objectives is to increase brand awareness, to increase brand loyalty and to repeat the
purchasing.
There are different Media strategy keells super uses and can use, the best promotion for vegan meat
can involve in ;
❖ Social media: 4.76 billion people uses social media across the world this is 59% of the total
population, this shows how much businesses has opportunity to advertise through social
media with lower cost (smart insights,2023). Some of the main social media platforms are,
Facebook, instagram,YouTube, Twitter and etc…. Keells super has great opportunity to rise
the promotion and advertising campaign to reach large audience in social media platform.
This has advantages as well as disadvantages, some of the main advantages are ; direct
selling potential, user selects product information, flexible message, and etc… some of the
other disadvantages are; web traffic, few valid measurement and etc,…
❖ Content marketing: creating content like blog posts, articles can increase the knowledge for
customers on the product , which increase brand awareness and the product benefit
❖ Tv and radio marketing: keells super can use tv and radio marketing to attract large
audience to promote their vegan meat, this contains advantages and some disadvantage as
well those are high reach, low cost, flexible and etc… disadvantages are short message to
audience, high production cost .

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 ❖ Outdoor advertising: keells super can use billboards , bus shelter posters which would be
easily noticed by the people on the go. Advantages are high resolution, area specific, easily
noticed and etc…. Disadvantages are poor image, less content, peoples safety and restriction
might cause.
❖ Direct mail: keells super can use regular email marketing to its customers to promote its
vegan meat product, inform new product launches , deals and benefits and etc… advantages
are its low cost , more content, reader controls exposure. Disadvantages can be ignored,
moved into junks
These are some of the promoting media types keells super can use to reach their target audience and
objectives. Keells super need to make a decision on how often they needs to promote either continuity
( continuous pattern of advertising), flighting ( employs with a less regular scheduled) and pulsing ( is
actually a combination of first two methods). Most of the organizations tend to use pulsing method
which audience will regularly get noticed by the product.
but the choice of media will depend on the budget available , type of target audience and marketing
goals.
Recommendations for keells super
Has keells super is introducing vegan meat to the market, a high amount of marketing budget would
be useful , because vegan meat would be an evolutionary product for vegan lovers, people would buy
the product even to try it . Launching events , promoting through all the ways would bring on
curiosity to the audience to know about the product and to try it which would result in more sales and
brand awareness. By highlighting all the benefits , promotional activities including discounts, offers
will help keells super to achieve their marketing objectives by customers involvement on the product.

Quantitative and qualitative research

Quantitative research is expressed in numbers and graphs, this is used to test or confirm theories and
assumptions, common types of quantitative research includes on experiments, numbers, and surveys.
Qualitative research is based on expressions of words, this is used to understand concepts thoughts or
experiences. Common types of qualitative research includes on literature reviews , explores concepts
and theories (scribe, 2023). The purpose for keells super to conduct this research is to analyze and get
an insight on the demand for the new product vegan meat. After conducting a survey, keells super can
identify the percentage of people who have tried vegan meat with a certain age group, percentage of
people who like to purchase it again, and percentage of people who are willing to purchase new plant
based product, these data’s will be in the form of numeric information which is known as quantitative
research.

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As qualitative research keells super can find out on what flavors does customers are looking for,
improvements expected , textures and tastes they look for, the price to be made, and the quantity to be
weighted to purchase and etc…
Bothe the research methods need to be used in order for a successful product launch, keells super can
conduct surveys and identify the feedbacks received.

Tactical actions

Tactical marketing is an implementation of specific techniques that can help a company achieve its
marketing goals (indeed, 2021). A strategic marketing typically focuses on long term objectives of a
company, but tactical plan makes the actions to be done to achieve the long term goals. Both strategic
and tactical marketing works together in order to succeed the business goals in long run (indeed,
2021). Keells super can partner along with local suppliers and retailers to make available for people to
purchase the product. Conducting taste tests to identify the taste which suits most of the consumers
are willing and the demand. Keells super can Analyse the marketing research they conduct to have a
tactical and strategic marketing to promote the product, offer loyalty programs to make customers
loyal and increase customer revenue average and achieve the objective and goals.

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