Wednesday, October 11, 2017

Marketing Plan Essay Sample

I would like to start by saying that after the military defeat of 1895, Taiwan would be ceded to Japan. It would again become Chinese after the end of WWII when the allied forces won the war. The communist victory in the country in 1945 contributed to the massive escape of Chinese from the mainland China to Taiwan. The country would have its own constitution which was written in 1946 for all china. Over the next 50 years, Taiwan instead of China would turn into the profitable capitalist economy. The island would prosper and be labeled one of the Asian tigers.

Currently, Taiwan is a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by government authorities. The cooperation between large government-run banks and industrial export-oriented firms allowed the country to possess a highly competitive economy. 

Exports were given the greatest consideration and therefore are currently responsible for the greatest cash inflow in the Taiwanese economy. Taiwan has a stable trade surplus, while the foreign reserves prove to be among the world’s largest. Agriculture accounts for only 3% of the total GDP, down from 50% in 1955. Taiwan currently is among the largest investors in southeastern Asia, while China is currently the largest export market for Taiwan. The USA ranks second largest market for Taiwanese products (Jain, 70).

Lets speak about the PESTEL analysis of Taiwan as a part of market audit:
  1. Political. The political situation in Taiwan is stable and democratic, conducive for foreign and local business development. The political parties favor foreign companies working in Taiwan.
  2. Economic. The economy of Taiwan is market-oriented, so we should expect our frozen foods compete effectively with other frozen foods marketed by local and foreign companies operating in Taiwan.
  3. Social. The Taiwanese society becomes more and more occupied with work which demands long working hours and lack of free time. Frozen foods therefore will be highly demanded at present and in the future by the majority of the population of Taiwan.
  4. Technological. Taiwan had made drastic technological advances and currently manages to cater the needs of most industries one can imagine. Taking into account high productivity of the labor force compared to the population of mainland China or neighboring third world developing nations. This information is necessary for our choice to either import the frozen foods to Taiwan or perhaps manufacture these products in Taiwan.
  5. Ethical. It is ethical to create different food choices for the people of Taiwan as well as create more jobs for people of that country.
  6. Legal. The legal framework and necessary legitimate base allows one to effectively do business in virtually any sector of economy including frozen foods. Still, we need to get a better understanding of the laws governing the use of the GMO products if we plan to export our frozen foods to Taiwan. If we plan to produce frozen foods from the local agricultural products, we will not have to worry much about foreign agricultural practices and standards that might not be accepted by the Taiwanese authorities (Taylor, 57).
Speaking about a product that I would like to introduce into the Taiwanese market, I would speak about The Budget Gourmet or similar frozen-dinner products. While the marketing of diapers would also prove profitable in this growing economy, statistically countries which express substantial economic growth usually have declining birth rates as people start to care more about personal well-being and joy, rather than raising children to help their parents around the house and in the field. Therefore, the best product to be marketed is the frozen dinner.

Now let’s refer to the Marketing Plan of frozen foods product as shown below:
  • Marketing Objectives here is to provide different types of frozen foods to Taiwan to meet the major food preferences of Yuppies in largest areas.
  • Product Strategy. Our frozen products will come in different servings sizes, and different variances. The company should take into account the most common tastes of the Taiwanese customers and once the position is well-established there, we could start creating products for other tastes of lesser popularity. We need to understand that in order to gain true competitive edge in the frozen foods market, we will need to assure that our frozen foods represent the healthy food group rather than junk food. Therefore, we should market frozen breakfasts, lunches and dinners rich in vegetables and other nutritious food groups, rather than market frozen hotdogs, hamburgers or pizza. As people of Taiwan become richer they also become more health-conscious and the products they would want to consume need to match their preferences and needs (Lehmann, 121).
  • Pricing Strategy. The frozen foods should be prices in a way to make a profit for our company as well as to match the price for existing. I believe that the price should range from $5 to $15 per serving of selected frozen food that would take into account the taste preferences of vegetarians and ‘normal’ people.
  • Promotion Strategy. We should promote our frozen foods as those healthy snacks and products that can save personal free time of Taiwanese people to spend with their close ones. The frozen products is exactly what is needed by the adult and child’s organism and why spend time cooking everything from scratch when one can certainly get different types of food cooked only in minutes. We will need to use the mass media to advertise our products and in the first few months we will certainly need to provide food discounts and quantity discounts, let alone provide free samples to stimulate initial demand for this kind of food.
  • Distribution Strategy. The distribution strategy is extremely important for proper operations in Taiwan. The frozen foods should be distributed primarily through the major supermarkets and food shops. They should be made available through the food delivery services already present in Taiwan which allow citizens of that country to order groceries and other foods through the internet, or via the telephone (Loudon, 330).
In conclusion, I would like to note that frozen foods is the very product that the citizens of Taiwan will need on a daily basis and this is the very product we plan to market to Taiwan. We will market the frozen foods to the citizens of Taiwan and stress the importance to get quality healthy food while saving time for family and friends. The market analysis as represented by the PESTEL of Taiwan shows that frozen foods indeed will be demanded country-wide and regardless of whether we choose to export frozen foods to Taiwan or manufacture foods locally we will be able to effectively meet the growing demand for frozen foods in the country and generate profits.

Warning!!! All free example essays, research paper samples on marketing topics are plagiarized and cannot be completely used in your school, college or university education.

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Taylor, James, Marketing Planning: A Step-By-Step Guide, Prentice Hall, 2004.
Loudon, David, Marketing Planning Guide, NY Random House, 2003.
Lehmann, Donald, Analysis for Marketing Planning, McGraw Hill, 2004.
Jain, Subhash, Marketing Planning & Strategy, Wiley and sons press, 2004.