Marketing plan to most companies represents an essential attribute towards developing its goals, objectives, and strategies they wish to pursue in the new future. Hence, it is a representation in writing of all the documentation that is required and needed to undertake all the steps necessary. It defines the company operations that are required to make positive steps towards succeeding in the market. Also, the marketing plan is one of the most critical tools that companies have at their disposal to successfully promote and grow their firm's business. The marketing plan assists companies and management in determining what a company does and what their core competencies are. In addition to pinpointing its core competencies, the marketing plan also helps in deciding how best to position the company and its products or services (McDonald & Wilson, 2016). For instance, the marketing plan can assist in determining the appropriate way to differentiate your product from other goods and services available on the market. It will help companies form a sales objective and so on. In the final analysis, all of these questions are vital to the success and financial performance of a company in their efforts to move forward as a going concern.
I am going to choose a dairy company that is located in Saudi Arabia called Almarai. Almarai is one of the most prominent daily firms located in the region. The paper is going to define various operations undertaken by the company toward achieving their ultimate goal. Also, the company background information is going to be explained to help one understand more about the company operations as well as the wellbeing. It will look at Almarai's target audience and whether or not the company has been successful in reaching its target. Among others topics, the marketing will explore Almarai's competition and other factors by performing an external analysis of the industry and over macroeconomic. Also, the paper is going to analyze the internal analysis of the company concerning its operations and ways to improve in future endeavors.
The Almarai Company was formed by HH Prince Sultan bin Mohammed bin Saud Al Kabeer in Riyadh, Kingdom of Saudi Arabia in 1976. Company headquarters are located in Riyadh where they centralize the company operations. During that time, Al Kabeer envisioned Almarai as a means to capitalize on the country's growing population and their need for an increasing amount of sustenance goods such as meat and dairy. Together with Irish food pioneer Alastair McGuckian, Al Kabeer helped to "transform Saudi Arabia's traditional dairy farming industry to meet the needs of our [Saudi Arabia's] rapidly expanding domestic market. In the present market, Almarai Company is one of the largest vertically integrated dairy companies in the entire world.
The Almarai Company has developed a distinct Mission Statement, which states "to provide quality and nutritious food and beverages that enrich consumers' lives every day."("Mission, Vision & Values - Almarai,"2018). Indeed, the express purpose of the statement is to lay the groundwork for the entire company concerning how it plans to treat its customers. Hence, the company is striving to be one of the best in the market and giving the best and quality services to all its customers.
The Almarai Company has issued a Vision Statement that works to complement its Mission Statement. That Vision Statement reads as such, "To be the consumers' preferred choice by leading in chosen markets with superior food & beverage products." ("Mission, Vision & Values - Almarai," 2018).
The Almarai Company has developed goals and objective that include offering its consumers only the highest quality products including dairy products, nutritious beverages, and other healthy foods that will drastically improve the quality of life for the millions of its millions of customers. The company wishes to be recognized as the best in the market about how they undertake operations (Eteokleous et al., 2016). Also, the company has various values set aside that are key its operations. Those values include being Adaptable, Sharing, Passionate, Innovative, Respect, and Excellence. All of these stated values are all designed to provide a superior experience to consumers and better the company in all that it does.
Long life dairy- under this category they include longer-lived dairy products such as evaporated milk, UHT milk and cream, and sterilized creams.
Fresh dairy- They are perishable which makes them short lived. They include raw milk, fresh Laban, yogurts, and various creams.
Fruit juice- The Almarai Company's fruit juice product line includes a wide range of products to choose from including orange and apple juice as well as its recently introduced mango and green apple product lines. The unit now contains 13 different flavors. These flavors are defined depending on individual preferences in the nation.
Poultry- The Almarai Company also markets poultry to its customers as it now has a significant presence within the chicken farming industry. The company has targeted its poultry and meat division as a substantial source of growth.
Bakery- Bakery products were first introduced with the acquisition of Western Bakeries in 2007. In addition to bread, the company also markets mamoul, cupcakes and other pastries.
Cheese and Butter- The Almarai Company now offers a wide range of cheese and butter products for customers to choose from. These products include fresh feta cheese, cheddar cheese, and other low-fat cheeses.
The company can use the ecological study to develop its market analysis and enhance growth.
Government policies can be beneficial for Almarai to gain more profit for the market and using the situation where they can develop the entire business scenario. Promoting the fresh fruit juice and dairy products like milk and cheese can help the Almarai to export them in an international market (David et al., 2016).
Most of their Muslim, majority countries avoid milk. However, Almarai needs to understand their potentiality, and they have to use milk for making other products like ice cream or milkshake. However, in most of the cases, they can promote their products to reach more people in a short period.
Technology is an essential part of today's world. Almarai needs to develop their technical equipment where they can understand the demand of the market and they can build their technologies as per required.
Every business organization needs to follow the rules and legislation system of the government. Almarai needs to follow the rules and regulation system of the Gulf Countries to sell their products in different countries. They have to make market research before that to find out the demand for the product in different countries.
Marmum Dairy Farm LLC, United Kaipara Dairies Co PSC, and Unikai Foods International are a few numbers of companies that have a direct competition with Almarai`s market strategy. These companies already have a significant market in the UAE and International market (Baker and Saren, 2016). Almarai needs to find the scope with the help of quality management, product pricing, branding, promotional activities, targeted market and many more to understand the range of the business. Otherwise, they cannot expand their business on the national and international level. Almarai needs to adapt their techniques and business strategy to gain the marketed in those place where they already operational. David et al. (2016) stated that they need to find out the reason for people choosing their product. Otherwise, it will be a tough job for the Almarai to survive in the market commission. On the other hand, they need to produce a more good quality product at a low price so that they can beat the other companies in case of the cost.
Target Market Analysis
The marketing arm of the Almarai Company, like at most firms, plays an integral part in the firm's success, or failure. One of the primary objectives of the marketing division is to help the company meet consumer demand more effectively than that of its competition. To that end, the Almarai Company ranks as one of the most trusted brands in the Middle East. Indeed, the firm has a wide range of market leading brands, led by its namesake Almarai brand. In addition to its market-leading position within the Saudi Arabian market, the Almarai Company has also developed a significant presence within Egypt, Jordan and the United Arab Emirates (UAE).
The primary advantage that Almarai Company currently possesses over its competitors is its economies of scale brought about by its size and market share; In addition to its economies of scale, the firm also holds a significant advantage over other players in the food and beverage market through its vast collection of retail outlets. Moving forward, the Almarai Company's has identified several potential acquisitions to expand its retail presence and supply chain network further. In addition to assets, the Almarai Company has also identified some partnerships, and joint ventures that it believes will help increase its distribution and presence throughout Central and East Asia, as well as Africa and certain sections of Central and Eastern Europe. These potential partners include Pepsi Cola and Coca-Cola of the United States.
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