A REPORT ON

MARKETING PLAN OF THE “SOY MILK”

Under the guidance of

Prof. Nilamadhab Mohanty

Marketing C.I.M.P.

SUBMITTED BY: - GARURDWAR

PARTICIPANTS:

Piyush Harsh

Jyoti Sah

Anjali Singh

Saujal Kumar

Shashank Shivam

Prince Kumar
 EXECUTIVE SUMMARY

Our product - Soy milk will be produced in three different flavours. It will come under Ready
to drink healthy beverage. Our vision is to provide a healthy and refreshing drink which is
easily available at all the places and ready to drink anywhere any time. Our short-term goal is
to make our product available with great quality and affordable price in the Delhi city. Long
term goal is to create brand value and expand the customer base of our product. We will focus
on a specific set of customers by three varieties of product which will focus on Athletes,
Fitness freaks and people who are vegan or lactose intolerant. One of the objectives of our
brand in the long run is to capture a large piece of the market share in this segment. The plan
for the first year is to achieve a place in Soya Milk manufacturing companies and later to
become a leading brand of Soya Milk in India and abroad.

 SITUATION ANALYSIS

SOY PURE is a new Soy milk company aspiring to enter the non-dairy market.
Our offerings are Classic Soy milk, Chocolate Badaam, Rose Milk. We will be
competing in a market with various competitors; hence the marketing plan is very
crucial to reach the target audience and differentiate our products with others in
the market.

 MARKETING SUMMARY

Soya Milk is a plant-based organic non-dairy beverage, it is often consumed as an alternative

to milk, it is made from soybeans. There are many companies offering similar products. Soy
Milk in general is a preference for fitness freaks, Athletes, Vegan and such individual who
are lactose intolerant. Also, the targeted segment is expected to expand rapidly at a rate of
6.3% from 2019 to 2025. The flavoured soy milk covers the taste of the original product,
which many people aren’t fond off and hence will be preferred by adults mostly. Most
common and Preferred flavours are Rose milk and chocolate - Badaam. Our company will
focus on increasing the variety of flavours and distributing them in attractive packages to
increase consumption, thereby driving the overall product demand.
CONCEPT TESTING
For concept testing of our product, we used four different methods:
 Comparison of testing
 Monadic testing
 Sequential monadic testing
 Photo- monadic testing

In comparison testing we presented two or more different concepts in front of the

respondents. The respondents compare these concepts by using rating or ranking questions or
merely asking to select the best concept displayed by us.

CONCEPT – TESTING
In a monadic test, we broke the target audience into multiple groups. We showed only one
concept to each group. We arranged this test to focus on analyzing a single concept- in depth.
We get more contexts around why a specific concept is better than the others.
In sequential monadic testing we showed all the concepts to the multiple groups instead of
showing single concept in isolation. We did these sequential monadic tests on different biases
like interaction basis and order basis.
In protomonadic testing the respondents evaluate multiple concepts and then we asked them
to choose the concept they will prefer.
While doing concept testing we have mentioned following steps:
 Images
 Demographic questions
 Non- homepage design
 Testing a new logo
 Offers and pricing
 Ads testing

TEST- MARKET DECISION

While taking test market decision for our product we done several research and studies,
performed various activities for the market success of our new product. We gathered several
information on the level of product acceptance, viability and customer satisfaction before it is
launched in the market on a large scale.
These are some different kinds of testing we have performed while doing test market
decisions:
 We talked to different customers
 Offered several samples of our new product
 We have used test ads
 We conducted a regional product launch prior to a full launch
 We conducted several internet tests
 Conducted media coverage and advertising
 Also talked to several retailers and distributors to know their response.
 We have done several researches which provide important information on customer
attitudes.

TIMING OF MARKET ENTRY

The company has decided to launch its new product soya milk in the month of February or
march, this decision has been taken by the company keeping in mind all the necessary aspects
which will successfully helps in launching the product and make it popular among general
public. These months have been selected by the company because in these months’ people
start consuming chilled drinks and the company has decided to provide the product in
different flavors in the form of chilled drinks and also after these months summer knocks the
door and people prefer chilled drinks and will definitely attract the customers towards the
brand.
PORTERS FIVE FORCES:

1. Competition in the industry: Competition will keep our company on toes. Though
we have a fewer number of competitors, there is going to be cut throat competition as
these competitors hold reputations and huge market share. To overcome a part of
these, we have made our product in flavours which is different than that of our
competitors and is prevalent in the Indian market, such as Choco-Badam, Rose-milk
and Classic Soymilk (Unflavoured). We have also kept the price of our product i.e.,
soymilk minimal as possible so that the switching cost for customers would not be a
hindrance.
2. Threats of New Entrants: For SoyPure Ltd. The new entrants’ threats can be
considered low to medium. The new entrants will have competitive disadvantage as
SoyPure ltd has wide base of skilled labourers, technical know-how, R & D on
consumer awareness and preferences on taste and prices which they can pay. Also, the
profit margin kept for our product is minimal at the inception for sustainability in a
market where Global Key players capture the huge market share.
3. Power of Supplies: Our supplies of raw materials are basically from the Local
Market of Madhya Pradesh as the state is one of the major producers of soya bean.
Indubitably, our firm will be highly dependent on these local suppliers. The cost of
switching to any other alternate, for example getting raw materials from processed
soya bean manufacturers will add additional cost to the per unit cost of the product.
Hence, the bargaining power of the suppliers will be high.
4. Power of Customer: No business can sustain without customer. In the case of our
product – Soymilk, the bargaining power of customer will remain between medium to
high. It will be high in case of such customers who are loyal to certain brands.
However, the organic features of our product such as use of stevia leaf extract which
is a natural sweetener will differentiate our product from that of our competitors. This
will attract those customers who are highly health conscious. Also, the MRP set for
Soymilk is comparatively lesser than those of competitors. This factor will minimise
the bargaining power of customer.
5. Threats of Substitutes: Availability of substitute poses a major threat to the products.
One of the major substitutes is cow’s milk. Cow’s milk in the northern part of India is
considered highly nutritious and it poses a traditional value in the family. Those people
who are vegan might also opt for alternate such as Almond Milk which is also highly
nutritious and available in various flavours. These substitutes are easily available in the
Delhi market as well as various E-commerce platforms.

SWOT ANALYSIS

Strength Weaknesses
 Brand Ambassador- Virat Kohli  Lack of awareness about the
 Comparative lesser price than product.
competitors’ products.
 The product being organic and
vegan.
 High product quality and availability
in various flavours.
Opportunities Threats
 Creating awareness about soymilk in  Shortage of skilled labourers.
semi urban regions.  Dealing with cultural diversity.
 Ensuring the availability of the  Established reputation of
product in semi urban regions. competitors.

COMPETITOR ANALYSIS

The market is highly competitive with presence of key global players. Our company
Soymilk would face tough competition from such competitors in the market.
Understanding customers is an important step in developing strong customer
relationships, but it is not enough. To gain competitive advantage, we must use the
understanding to design market offers that deliver more values than that of our
competitors seeking to win over the same customers.
SOYMILK COMPETITORS

Particulars Nestle – Bonus Soya Bean Milk Hersey’s – Sofit

Image

Objectives  Compliance culture commitment.  Giving high calibre HERSHEY’S

 Creating superior, long-term value. items while directing our business
in a socially mindful and earth
practical way.

Segment  Youths who are into fitness and are  People who are into fitness and do
looking for good quality branded not drink animal’s milk.
products.

Target Group  Urban middle and upper middle  Kids and adults who want the
class benefits of milk with soya
Positioning  Nestle is a world class company  Not exactly milk, but something
providing good quality and healthy which provides even more
beverages. nutritional benefits

Strength  Global reach with presence in over  Renowned Reputation

86 countries.  Strong network of global reach.
 Largest R&D network facilitating  Advertising on health & wellness.
continuous innovation.  Good packaging and distribution.
 Strong marketing and advertising
through TVCs, print media, online
ads and sponsorships.

Weaknesses  Being a big global brand, numerous  Brand penetration is mostly in the
controversies in different countries cities.
of operation cause issues.

Competitors’  As both the competitors are Global Key Player with huge product line. A local
Reaction company for a small region would not much affect their profitability or the market
share. Hence, Competitor’s reaction will not be aggressive.
 PRODUCT OFFERINGS

o Core Benefit-
Healthy Drink
o Basic product-
Soy Milk
o Expected Product-
Taste of Soy Milk to be similar with dairy milk.
o Augmented Product-
Availability of Soy Milk in various flavours
o Potential Product-
Soy Pure can be used as energy drink.

 DISTRIBUTION CHANNEL

External Factors
1. Customers Characteristics –
The characteristics of the customers include Athletes, Gym freaks from the
city, Delhi. Our product Chocolate Badaam” is focused to such individual as it
has both proteins to serve nutrients and Chocolate Flavour to enhance its taste.
2. Nature of Product –
Health energy beverage which comes under the fast-moving consumer goods.
3. Nature of Demand –
India’s production of milk is growing by 35% from the last six years.
4. Competition –
Soy Milk is a plant-based milk which acts as the best alternative for Dairy
milk. Many people India is now adapting Vegan diet. As they are now more
 conscious towards their health hence, they tend to reduce cholesterol which
they will ultimately achieve only after quitting animal-based products.

 INTERNAL FACTORS
1. Types of Intermediaries –
Soy Pure will be initially sold in supermarkets/Hypermarkets with sparking
attractive colour packing to set it apart from the other products.
2. Coverage –
Selective distribution to selected retailers and supermarkets.
3. Length –
When doing business of Soy Pure in online mode, we will have one level of
middleman and in supermarket/Hypermarkets level of intermediaries is zero. In
case of retailers, we will have two levels of middleman.

Based on the above research, we have finalized a Selective coverage strategy for distribution
of our product. As supermarkets account for high volume sales due to impulsive buying.
TYPE COST TO PAY REVENUE
Supermarket/Hypermarket Upto 2 lakh Item Sold – approx. 2 lakh

Retailers 3% per item (Item price) - (3% of price)

Online Shipping Cost Item Sold

 MARKETING STRATEGY
 Marketing Strategy: – We have entered the market by providing Soy
milk with 2 different flavours and it has no cholesterol, heavy protein,
very less calories. Also, some people do not like the Soy milk taste, for
them we are introducing flavoured Soy milk. We will get our main
ingredient Soy beans from the farmers of Madhya Pradesh as the beans
are cultivated in the state at huge amount. And it is very close to our
target state so, transportation will also not be an issue.
  Objectives
The marketing Strategy will be focussed on increasing brand awareness, capturing
competitor’s market share, filling the market gap and expanding geographical
footprints with increasing profit consecutively.
o First year objectives –
For First year we have planned to increase brand awareness and achieve a sale
of 1,00,000+ units.

 Segmentation –
1) Geographic: -
Country- INDIA
City- DELHI
Climate- during hot climate. (March-September)
2) Demographic: -
AGE: - seniors (40+), kids (1-5), Adults (20+)
GENDER- Females & Males
OCCUPATION- Corporate Staff, Students, Athletes
3) PSHYCOGRAPHIC: -
Personality- openness, Extraversion.
Lifestyle- gym freak, health conscious
4) Behavioral: -
Quality- people who have quality issue on the Dairy milk.
Service- people who look forward towards great service experience.
Loyalty status- people will stick to one brand.
Benefit- health benefit they will get from this product.

“Delhi”- “20+” “age” – “Males” – “fitness freak” – “loyalty & benefit”

 Target market –
 As life is too busy for anyone these days, people have extremely hectic schedules.
So, they are not much concern about their health. Delhi is our target market as it has
huge population and potential customers for our product. Also, Delhi has very less
daily consumption and production of Dairy milk compare to other states. We are
dividing target audience into smaller more specific or defined groups of people in
order to create messaging or ad campaigns or promotion that speak directly to that
audience. We are focused to urban Delhi, Fitness freaks, Athletes as they need the
products which we are providing.

 POSITIONING

The positioning of our product is health-conscious people who hates to

consume dairy products. It has been discovered that Soy beans has
many health benefits, they are very less in cholesterol. It impacts aging,
stress, avoids obesity. It has been observed that millennials are now
health conscious regarding the animal product which they use to
consume. Also, many individuals do not like the taste or smell of the
Dairy Product. Presenting it to the health-conscious people of Delhi is
what we are focused on.

We will be selling through supermarkets/hypermarket shelves. Our

potential customers are individuals from Delhi, age 20+ and also health
conscious and Athletes. Our brand will be positioned under “Atma
Nirbhar Bharat” campaign and looking at our competitors like
HERSHEYS, an American multinational company, consumers
sentiments are looking for local options and this is an opportunity for
GARURDWAR to establish itself as a “SWADESHI” product. Soy
Pure will be positioned under a value based non-dairy organization with
various Flavors.

 STRATEGIES
PESTEL ANALYSIS –
POLITICAL FACTOR-

 The soya pure should analyse the political stability before

starting operation in Delhi.
 Company should analyse the trend in political policies.

ECONOMIC FACTOR-
 The economic dynamic like inflation and per capita income.
 Before coming in the market with this product the soya pure
should analyse the purchasing power capacity.
 Current demand and supply of the main product

SOCIAL FACTOR –
 The soya pure should analyse eating habits and religion,
family structure or family size
 Soya pure should focus on vegans and health-conscious
consumers

TECHONOGICAL FACTOR-

 Should consider upgrading their equipment’s and develop its

own equipment’s and technologies to enhance their
manufacturing abilities or capacity

LEGAL FACTOR-
  The company should avoid in indulging in any legal
controversies
 Company should strictly obey the rules and regulations in
that particular area

ENVIRONMENTAL FACTOR-
 The company should abandon the use of restricted raw
material and check its pollution emission
 The company should abandon the use of restricted raw
material
 Companies should use those kinds of materials which are
recyclable and re- useable to reduce the wastage

 MARKETING MIX
1. Product
The product “Soymilk” will be an organic plant based ready to drink beverage. The
ingredients which make the product about 98% organic are juice extracted from Soya
bean, stevia for natural sweetness and added flavors. The product will be available in
three different flavors namely Choco - Badaam, Rose milk and Classic Soymilk.
The product will weight 200 grams exclusive of the packaging which fits right
amount of nutrients drink in daily diets of people who are into fitness regularly and
also for the people who are vegan.
2. Price
The price of Soymilk will amount to Rs. 30.00 irrespective of the flavors.
3. Place
The product will be distributed via retail outlets and supermarkets in Delhi. As people
are becoming more convenient with online purchase of products, we will also sale our
product on a very renounced E-commerce website – Amazon.
4. Promotion
Mix of personal and non- personal channels to establish the brand and create and
impact on the target market will be used for the promotion of Soymilk.
 TV advertisement: Soymilk will be advertised widely on some specific sports
channels whose TRP is excellent in Delhi. Famous cricketer Virat Kohli will
be the brand ambassador of the company. A 30 seconds advertising where
Virat Kohli will influence and motivate the people for drink the healthy and
organic ready to drink beverage.
 Radio Advertisement: Delhi is a densely populated city and people spend a lot
of time travelling in cabs, cars or taxi etc. So, broadcasting on radio about our
product will spread awareness about the product.
 Social Media Marketing: People today spend a lot of time on social media like
Instagram and Facebook be it leisurely or on purpose. YouTube is another
distinct platform where vloggers upload their creative, entertaining and
informative video contents. We will advertise our product in such vloggers’
channels who make contents related to fitness, yoga or exercise etc. Creating
awareness by uploading and sharing the benefits of soymilk on such platforms
will surely attract the target customers.

MARKET RESEARCH
Right after the launch of “Soymilk” on each platform, Consumers’ feedbacks on the
product will be collected and analyzed to better understand the market and modify the
product accordingly. Also, research and development will be done after analyzing the
increase or decrease in the volume sales of the product. This dynamic approach will
help us sustain in the market where already key players like Nestle and Hersey are
dominating in the market.
  FINANCES AND COSTS

o PRICING
break even
product type Quantity Flavours available Price breakup mark up point
Purified Water and 9.89(material cost) +8 Unit cost/1- (desired Fixed
Soyabean (16.15%) (packaging)+0.10=18+fixed returns). cost/price-
cost. 24.94/ (1-0.15) Variable cost.
Unit cost= =29.34. Unit price= 600000/30-18
Classic Soy 18+6,00,000/86400=24.94 Rs30 = 50000.
milk 200 ml (VC+FC/Unit sold)
Purified Water and 20+FC. Unit cost= 28.68/(1- 600000/30-
Choco- Soyabean (16.15%) & 20+600000/69120=28.68 0.03)=29.56. Unit 20=60000
badaam 200 ml Cocoa solids (0.80%) Price= Rs30
Purified Water and 19+FC. Unit Cost= 29.41/ (1-0.01) 600000/30-19=
Soybean (16.15%) & 19+600000/57600=29.41 =29.70. Unit Price= 54,545.45
Added Rose Flavour & Rs 30
Rose Milk 200 ml Artificial Flavouring

 IMPLIMENTATION PLAN

In the first phase Soy Pure will work on building brand promotion. Educating people about
the existence of the product and benefits, through online media channels (Instagram,
Facebook, etc.). The distribution fees and collaboration with retailers will be made to carry
out the business. Soya Pure website and social media pages will provide information about
the release date information, Point of purchase. Virat Kohli will be the brand ambassador for
Soy Pure. And Other Collaboration with influencers to promote the product. In the second
phase we’ll launch full social media campaigns on Instagram, Facebook, Twitter, LinkedIn.
In this phase only, influencers will be instructed to feature the product to their respective
audiences.