However, the primary purpose of this plan is to devise a marketing strategy, which can help Twinings to increase its market share in Hull and thereby bridge the wide performance gap vis-à-vis other popular brands.
Initially, the marketing strategy plan presents a SWOT matrix. The matrix provides an overview of the internal strengths, weaknesses and external opportunities and threats to the Twinings. Based on the SWOT analysis appropriate marketing objectives are set for the target market of Hull. The market segmentation is grounded on the demographic facts of Hull population that is dominated by young and middle age working people.
Various marketing strategies are discussed at length to find out a best market mix that can help to achieve the marketing objectives. The most important objective of this marketing mix is to increasing the market share for Twining based on an aggressive promotion strategy. Twinings is investing a handsome amount on the media campaign to win considerable market shares within Hull using Christmas greetings at its forefront.
In today’s highly competitive business environment, a marketing strategic planning can play a decisive role in maximization of market share and profitability. Capitalizing on social and cultural events is an important corporate strategy to realize marketing plans. (Perreault, 2007). Christmas in Great Britain is a serious opportunity for businesses to hit target market segments and to ensure increased corporate profitability and competitiveness. This marketing plan is designed to augment Twinings rich experience of UK markets through a concentrated insight into marketing strategies. The plan will catch on the opportunities through better marketing mix, communications, promotions, pricing and other marketing manoeuvres within Hull in Christmas 2011. (i) Historical Background Twinings enjoys a history of industrious pursuit of success. The company has now become a part of UK tradition where its presence ranges from daily life to royal ceremonies. Twinings has always come up to the challenge with it finest tea collections to combat daily hectic routines of men and women while keeping in touch with hearts through its custom made commemorative tea blends for Royal marriages. (Twinings, 2011). (ii) Mission Statement Twinings mission is to provide finest blends to millions of tea lovers around the globe while fulfilling the requirements of Corporate Social Responsibility (CSR). Twining’s aim was to turn a simple passion for tea into the nation’s favourite beverage. (Twinings, 2011). Twinings readiness to engage itself into the systems of governance, regulation and responsibility has instigated a range of collaborative efforts with renowned international organizations. Twinings membership with Ethical Tea Partnership (ETP) has resulted in serious effort to make standards, based on the UK Ethical Trading Initiative and the International Labour Organization conventions. (Ethics, 2011). 2. SWOT Matrix Strengths Weaknesses 1. Customer loyalty and goodwill 2. Brand image and quality heritage 3. Competitive strength in tea market 4. Assorted flavours to suit diverse customer range 5. Use of innovative technologies 1. Slow corporate growth in terms of market share (Appendix 1) 2. Downward trend in net income (Appendix 2) 3. Premium prices in a period of economic recession. 4. Dependence on external suppliers 5. Rise in operating costs Opportunities Threats 1. Christmas a bumper sales season 2. Supportive Age Structure (Appendix 3) 3. Tea a natural respite for working and retired people 4. Targeted and personal advertising 5. Conducive