Vitasoy †Sparkling Soy Milk

VITASOY Sparkling soy milk Executive summary Background of Studies Environmental s croup Advertising and Promotion strategies/ tactics Conclusion elongation Appendices Executive summary Background of Studies In 1940, Vitasoy was established by Dr K. S. Lo in Hong Kong. Soya bean is the important source of protein for Chinese people for 4,000 years. Mr. Lo brought this big idea to Hong Kong grocery store, he began to sell his Soya bean milk from delivery in fresh to customers homes on bicycle, expand his business to retail show uplets after the World War.Nowadays, VITASOY classifys harvestings sell in over 40 markets around the world and become the international brass which is standards in quality and innovative intersection points. Vitasoys pigment mathematical point of intersection is soybean present and tofu, which is nutritious and broad(prenominal)-protein healthy for people. Vitasoy was built-up nearly 70 years, it is be quiet the one of the most(prenom inal) famous local trademark beyond Hong Kong, through the high quality, the great tasting, healthy and s elderly at affordable price, those ar the factors why Vitasoy is successful its curious merchandising proposition.The industry uniqueness 1. Brand loyalty Through nearly 70 years, Vitasoy is still a leader in the industry in Hong Kong 2. 3 main competitors HI-C Ribena Yeos 3. Affordable price For wide customer segment (e. g. student, adult, elders) Environmental s skunkning 1. Conduct Situation Analysis Vitasoy is the biggest supplier of the soymilk market in Hong Kong. According to Mingpao Finance (2008/08/04), she has 75% of the market share of the soymilk in HK, 50% of Shenzhen & Guangzhou, 35% of Australia & New Zealand.The most traditional & strong sucker the soymilk crossway in Hong Kong which is Vitasoy, because she is carrying out her business 69 years in Hong Kong, so everyone knows as her. Although she is much(prenominal) advantage for business in HK, she still ne eds to care a few points, quality of the soymilk. In 1996, after the incident of soymilk taste deterioration, Vitasoy had a bad re rateation for her branding and disconnected HKD 60,000,000 profit. Nowadays, customers advocate the health food, soy bean of soymilk is an organic food without artificial preservatives, genetically-modified (GM) foods.This is the biggest business opportunity for Vitasoy, so she begins the overseas business, identical Australia and New Zealand, that she has a good return. On the new(prenominal) through, when the similar product like milk occur problems, soymilk leave behind get the extra profit. Its a fact, when furthermost year, the main land China happen the poison milk, at the same time, the soymilk get the great sales, it increase 56% for the total sales. However, the opportunity brought a threat of competitors, like Yeos and Coca Cola. The largest competitor, Coca Cola has much capital to attack the soymilk market.Vitasoy cannot bear this risk, so she needs to be a pioneer for the overseas and the Mainland China market, to identify the strong subtraction for the future expansion 2. ) Conduct a customer analysis Up to 31 litigate 2009, the major sales market of Vitasoy is Hong Kong and Macau, which carries 53% of total sale amount. The southward market is Mainland China, which is 20%. Other markets are Australia, Zealand, North America and Singapore. All these markets are growing gradually. In the recent years, Vitasoy is keen on launching different varieties and promoting benefits of soy to customers who concern their health.Such strategies widen the customer groups to all ages as sanitary as both genders. It raised Vitasoys sales growth and market share. Besides, the Groups tuck shop business and catering business in any case recorded a healthy contribution growth. From the Vitasoy products, most of our customers (44%) choose soymilk while 20% select Lemon tea products. In September 2008, throne alertness to the saf ety of dairy milk was awakened by the outbreak of the melamine issue. Because of similarity between dairy milk and soymilk, soymilk of Vitasoy became a common alternative for customers.Vitasoy is enjoying good reputation and good quality image among Hong Kong people. Apart from Vitasoys existing customer, we view to explore much potient customers to increase the market share. win to the information from the Census and Statistics Department in Hong Kong 2008, there are more females (52. 7%) than males (47. 3%). In the demographic characteristics, the largest age group is 35-64 year old (64. 6%) The second large age group is 0-14 year old (12. 2%). We leave base on these statistics for product development. 3. ) Conduct a product analysis Vitasoy is a kind of easy-known soymilk in Hong Kong.Despite it is a traditional product among people, new product is required to release in order to sustain the market share. The new product is called Sparkling soy milk which entrust be one of the beverages in bank note with Vitasoy series that pull up stakes be released in mid-November 2009. This exclusive product is limited to be sold during this Christmas season. Overview the product ? Using soymilk as basis ? Nutrient healthy product that is featured with the most low consummate(a) fat and abundant protein ? Using a tractile bottle as a container ? Selling it for both undisturbed and hot option ? Adding Konjac inside the soymilk Shake it at least 10 times in front drinking ? Not only can drink it, even can chew it ? Printed with dark in glow deoxycytidine monophosphate pattern that impart glow white at night ? A vex sensitive feature. After holding it for a while, it leave then change into other color. It is created by using thermal color ink This product is especially suitable for children, teenager. Traditionally, adult and elder has been chronically drinking soymilk that they are treated as basic advantage. 4. Conduct a competitor analysis so far Vitaso y is the one of the largest soymilk companies, but there are many companies intend to replace its position.After our observation, we can divide their competitors in three parts engage competitor, indirect competitor and Potential competitor. HI-C is the main direct competitor. HI-C has developed several soymilk products to against Vitasoy, HI-C is the second verge of Coca-Cola in Hong Kong, which enjoys a huge resource disdain against Vitasoy. Melon Flavored Soymilk is the most favorable product of HI-C. As Vitasoy has already existed in this market for 50 years, and became a household brand, so HI-C is still inviolable to replace Vitasoys position in Hong Kong.Ribena is one of the indirect competitors for Vitasoy. Nowadays, Hong Kong people unceasingly care their health as the first priority and Ribena provided a high quality drink which offers delicious blackcurrant taste and it provides with a rich Vitamin C, it is very powerful for the customer to choose their product accor ding to the healthiness. Although Vitasoys soymilk alike provides a health drink to people, but as customers havent the brand loyalty for every product, so Ribena should be the big challenge for Vitasoy. Yeos should be the potential competitor for Vitasoy.Although their sales amount still cannot threaten in the market, but Yeos always develop new product like black soymilk, green bean soymilk etc. And their main product is organic soymilk, this can attract more and more people to bargain their products, so we list them to the potential competitor with Vitasoy. 5. ) Justify the customer segment, targeting and positioning strategies In accordance with the data of customer analysis, we target the group of children, teenagers and family for our new product as they are in the large popluation. Our new product is named as sparkling soy milk.It is Vitasoy soybean milk with Konjac, which increases the elements of nutrient. And testament shake it before consumption. Customers can make fun with such drink into the boring life. As we know, in Hong Kong, females are in the majority. The product appearance lead increase their purchasing interest. In order to catch the attention of female customers, the drink pull up stakes be dressed up with glow-in-dark snow pattern and heat sensitive feature on the packaging, which will have festival atmosphere and romantic feeling. In fact, the drink packaging is likewise giving the warm and cheerful outlook to attract family group for purchase.The drink consists of two sizes, 330ml and 500ml in volumes, which provide options to different consumers. During the promotion, we will use both supra the line and below the line strategies. For the above the line strategies, alley Show and MTR advertisement are our first launch. We will also introduce the drink to customers via internet, for instance, Facebook and Yahoo website, together with advertisements on teenagers magazine. For the below the line strategies, we will put the promoti onal materials such as store banner and promotional corner on the store to draw the ustomers attention. Besides, we will distribute the let loose sample at the density of crowd districts, render Bay, Mong Kok, to let the popular taste our product. We will contact primary and secondary schools to offer the promotional purchase of our new product with special discount. Compared with our other products and other similar drinks in the market, we will suggest selling the new drink at HKD 4. 50 per bottle (for small one) and HKD 6. 50 per bottle (for large one). Consumers can get the drinks from supermarkets, 7-Eleven, Circle K and other self consumption machine.These places can let our products to get reach of consumers at anytime and anywhere. It is much suitable for busy people in Hong Kong. Advertising and Promotion strategies/ tactics 1. Identify the overall branding strategies Base on the result of the environmental scanning, we bechance that our target customers will be childre n and teenagers. And our product is a funny health drink. For the overall branding strategies, we will go on the original and add a pocket-size factor for the brand, Creative and Funny. Vitasoy the brand is very strong in HK, so we dont need promo the brand with great exertion.On the other hand, the other factor make Vitasoy success is creative, but we havent used the promo before. So this time, we will use a great exertion for the creative and incite the customers the soymilk is the health drinks. Our new product will show how funny of the brand. Therefore, there are three main points for current branding strategies, wellness, Funny and Creative. low gear, Health we will through the about the line thematic to remind customers, when you drink Vitasoy soymilk, the how many advantages for you health that you will get.Second, Funny we will through the about the line tactical (dispatch sample) and below the line thematic (POS display) to education the consumer how to use and how t o have fun from the product. Third, Creative we will through the new product to stick out Vitasoy always is a creative brand. It will bring a content to the consumers, thats soymilk not only for health, its can be fun, an aggrandize and the order usage when you make more creative. 2. The system approach of communication strategiesThe concept of marketing communication planning which recognizes the value of an all-inclusive plan that measures the strategical roles of variety of communication disciplines (general advertizement, direct response, sales promotion, and public relations) and combines these disciplines to provide clarity, consistency, and maximum communication impact. Clarity means clearness of appearance. Our product has a clear message to all customer which is Health, Warm & Have Fun. In all advertising, we will base on these three messages to promote to the customer how the drink is healthy, why you will feel warm and how you can have fun in this.Consistency means e xistence in conformity with a sink of rules, guidelines or policies. Since Vitasoy was born, their name, logo, mission was keep for 50 years. Because of these consistency factors, Vitasoy can keep their name in every people mind. On the other hand, the drink will promote to a limited period product in the last season, but we will still promote this drink which without the dressed up with glow-in-dark snow pattern and heat sensitive feature on the packaging after this period. We will promote this drink which base on the healthy when the soymilk summation Konjac.Therefore, the package will different, very normal. Maximum communication impact which gives the customer a profound impact by the products or advertising. As our product will be dressed up with glow-in-dark snow pattern and heat sensitive feature on the packaging, which does not have any other similar product in the market and it is a limited product in the last season, so we think this is most impactful to the customer. Th rough the advertising, we can achieve to attract the consumer to buy our product. Pull & Push are the two promotional strategies in our advertising.Pull is the promotional strategy which a new product is heavily advertised before its retail and boost up the demand which draws customers attention into the retail stores. As one of our target groups is teenagers, we will hire some model and send them to Mong Kok, Tsim Sha Tsui, and Causeway Bay etc which the teenagers always go shopping and dining in these places. The models will present them a present which include a sample of our new product and a leaflet to introduce. In addition, we also promote our product in Road Show and MTR advertisements are our first launch.The advertising agency can always broadcasts the advertising in the golden hour which the most audience fascinate the television or listening the radio. We will make a 20 second advertising and play it in Roadshow and flyers in every MTR station because there are more th an million people travel bus and MTR every day. We will also introduce the drink to customers via internet such as Facebook and Yahoo website, together with advertisements on teenagers magazine. Because there are over million people watch these media every day, so the message can always recall.On the other hand, we will setup promotional counters in the mainly supermarket, because many housewives go to the supermarket unremarkable and they always go with their children, so they can taste and feel our product together. besides, we will promote the drink in primary school and give free samples to the students. This strategy calls Point of Sell. According to these promotions, we can also call this as Above the line which is a promotional method, included all media, and is at a lower place controlled by the client. This can have a long term effective to boost up the customers attention.Push strategy which is through the difference channels with a product that customer will be attract ed by the advertising and other factors such as rebates. Push strategy also like at a lower place the line strategy which is through the media like sales promotion, banner etc. We will setup some banner and promotional corner in the stores to attract the customers attention. 3. The advertising and promotion program elements It divides into 3 major communication objectives to customers Health Warm Have fun Health It is aimed to present a health image to customers that it is more benefit than they are expecting.Obviously, soy product has been widely introducing into Asian market that can bring health to the customers. In the western, Soymilk is the top soy products by awareness in the United State. It benefits people to prevent Heart Disease, Cancer, Osteoporosis and Menopausal symptoms (Consumer Attitudes About Nutrition (2008) Online PDF). Macronutrient Composition of Soybeans (% Kcal) pic Complete protein, providing all 9 essential amino group acids As Soymilk is mainly made fr om soybean, so it has abundant nutrient drink for children, teenager and elder.Thus, it is regarded as healthy and emphasize on low saturated fat (not Trans fats) and high protein. Since more and more people have concerned about their food whether it is harm to their health, and received a knowledge of trans fats product were being used from Macdonald and KFC widely in the market. Recently, such components are going to be removed and refused. In other words, Market is seeking a product who is selling along with health features. All in all, Vitasoy, sparkling soybean milk which is high protein and low saturated fat that can prevent heart disease.Protein can be supplying childrens need of their growing. By releasing this new product, additionally it is added with Konjac which is including a high proportion of fiber to help the digestive system. It is what the lift are looking for. Warm Sparkling soybean milk is positioning at giving delighting and warm to people, such as children, te enager and couple. Children could drink it whenever they have a breakfast, lunch time in daily lives. It accompanies with their childhood. For teenager, it is also appropriate for a party beverage when holding a party.People can keep in connection with their community with drinking together. Couple feels harmony and romantic by drinking hot soymilk with glow in dark plastic bottle during winter and Christmas season. Have Fun It can be playful. First of all, sparkling soymilk with adding Konjac inside. So, it is not only a drink but also can be masticable. Before drinking it, people have to shake it at least 10 times to make sure Konjac are well mixed. Second, it can glow. The container is printed by dark in glow ink to let the bottle glowing in darkness. It is awesome when drinking it at party, birthday festivity and dating.Apart from that, the bottle can be changing its color when holding it by hands. Yet, Couple holds the bottle each other to feel warm and make it colour changing . All above gimmicks can bring people to have a romantic, fantasy and the warmest Christmas festival that they have not experienced ever. By the above 3 objectives, customer should get a feeling and perspective of the new product featured in healthy, warm & harmony and even funny thing. Our key message is Warmest Christmas, Sparkling Health Marcom Tactics Advertising Creative strategies Story Board 1. pic 2. pic . pic 4. pic 5. pic 6. pic Media planning For the new product Sparkling soy milk, we form to make above the line & below the line promotion. Above the line active Roadshow Advertising it will be a two parts advertising. First a whole shelter poster in the pic densely populated districts, Causeway Bay, Admiralty, Tsim Sha Tsui and Mong Kok. The promotion will contain the high level of the line of vision. The poster will show 3 images of our communication objectives.Second, it will be a 30 sec advertising for Warm, Have fun and Health. MTR Station Promotion it will be a 4-Sheet Panel poster in all line of the MTR. The promotion willpic be watch by 3,500,000 passengers for every day. The poster will as same as the bus stop promotion. Radio Advertising it will be a 3 part of 5 sec advertising. The vowelize will be record form a famous DJ Sammy. It will produce the audience three images of our communication objectives. Print Advertising it will be advertising on the Eat & Travel Weekly. Its a page of the new pic product usage and key message. Online Web Site it will be advertising on our main homepage to describe the new product feature. pic And open an account on the Facebook to promotion the whole brand and communicate with the consumers. Also we will advertising on yahoo too. Dispatch Sample it will be make people keep an eye on the new product. We will engage some models picpicpicpicpic to dispatch the sample in densely populated districts, Causeway Bay, Admiralty, Tsim Sha Tsui and picpicpicpicpic Mong Kok. Cooperative A dvertising it will be advertising with supermarket, Welcome & Parkn shop. We will make a discount for the new product and the cost will be share with each other.It will also affect the consumer buy more. Below the line active POS Display it will be me people attention for the new products in the shop. It will carry out on picpicpic pic Mannings, Watsons, 7-Eleven and Circle K. bargain Promotions activities Beyond the advertising, we will carry out some promotions activities Coupons we will provide coupons in the newspaper, Apple daily, The sun. Consumer can use the coupons to buy our new product for that 1. 5 dollars.Premiums we will provide a small key chain (a small soymilk finger) for buying two of soymilk, it will produce two types. Conclusions Appendices Reference 1. Consumer Attitudes About Nutrition (2008) Online PDF Available from http//www. soyconnection. com/health_nutrition/pdf/ConsumerAttitudes2008. pdf Accessed 9/11/2009 2. Product Vitasoy http//www. v itasoy. com. hk/eng/product/soya001. html 3. Annual report of Vitasoy http//www. vitasoy. com/download. php? id=105&lang=en 4. Mingpaonews, Finance http//finance. sina. com. hk/cgi-bin/nw/show. cgi/2880/2/1/1642787/1. html pic