Marketing Strategy Plan

Of
Pyramid Tea
For Strategic Marketing Management

Submitted by:

Nabeel Ahmed- 2804

Submitted to:

Ms. Salma Rehman

Submission Date:

24th December 2010

CONTENT

Executive Summary 4
Introduction 4
Situation Analysis 5
Market Analysis 5
Dimensions Of Market Analysis 5
Business Market Dimension 6
Market Size 7
Market Potential 7
Market Structure 7
Market Trends 7
Environmental Analysis 7
Opportunities & Threats 8
Company Analysis 9
Company’s Mission Statement 9
Marketing Mix Assessment 9
Company’s Brand Image 10
Assessment Of Company’s Strength & Weakness 10
Customer Analysis 10
Macro Environment 11
Micro Environment 12
SWOT Analysis 12
Objective 13
Target Market 14
Marketing Strategy 14
Product Strategy 15
Price Strategy 15
Placement & Distribution 15
Promotion Strategy 16
Budget 16
Conclusion 19

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 ACKNOWLEDGEMENT

We are very thankful to Almighty Allah, who gave us the strength and
courage to accomplish this task.

We are very grateful to our teacher, Ms. Salma Rehman who gave us an
opportunity to study and create a detailed report on the strategic marketing
plan of a hypothetical company, Pyramid Tea Manufacturing Company, as
a project for the course “Strategic Market Management”

We wish to express our sincere appreciation to all those persons who have
contributed either directly or indirectly in this project. We wish to thank
firstly our teacher Ms. Salma Rehman for giving us this opportunity; we
would also like to acknowledge the suggestions of our friends. Finally, we
would like to thank our families, specially our parents for their support
through this ordeal.

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EXECUTIVE SUMMARY
In this report we have discussed the marketing strategic of a newly born tea, Pyramid Tea by
Pyramid Tea Manufacturing Company. The marketing strategic plan is made after considering
all the relevant information of the macro and micro environment as well as all the resources of
the company. Although the company is in its introductory stage but with the help of its good
finances and qualified professional staff the profitability of the company will be boosted in the
near future. This report also covers the marketing analysis of whole industry which describes
the market size, structure, trends and potential. Moreover environmental analysis is also
covered in this report which tells about the external forces that can affect the company. SWOT
analysis is also included in the report so that the readers can quickly get to know about the
strengths, weaknesses, opportunities and threats of the Pyramid Tea. Company’s mission
statement is clearly mentioned in the report along with situation analysis, market analysis,
environmental analysis, competitor analysis and customer analysis. All these information helps
the company define its objectives, its target market, marketing strategy and budget. Finally, the
implementation of the plan and control procedures is there.

INTRODUCTION
Pyramid tea is a newly launched tea manufacturer in Pakistan whose aim is to deliver top
quality tea to its consumer. The annual demand of tea in Pakistan is about 140 million kilograms
and the major competiting brands are Lipton, Supreme, Tapal and Brooke Bond pyramid tea
emerged in the year 2010, despite being in its introductory stage the company is providing
superior tea product for millions of Pakistani. By delivering quality products in a short span of
time the Pyramid Tea Manufacturing Company has developed a good brand name and
is recognized as one of the leading tea makers of the nation.

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SITUATION ANALYSIS
Pyramid Tea is a newly launched product and so is the Pyramid Tea Manufacturing Company
hence it is in an introductory stage. Company has to build its brand image and perceived quality;
it has to make strategies and plan objectives to maximize profit, take place into the market to
increase its share values.

Pyramid Tea is building cordial relationships with supplier for establishing an extensive
distribution network. It is targeting customer from rural areas as well as urban areas specially
youngsters, house wives, and professionals as well. Pakistan is the one of the largest country
where tea consumption is in high quantity so targeting the entire populace of Pakistan will
definitely be beneficial for the Pyramid as Pyramid Tea has enough resources, specialty and
ability to make a remarkable place in the market.

To attract people Pyramid Tea exports high quality tea from the Kenya and it’s newly ever made
packaging n the shape of a pyramid is quiet unique and attractive for Pakistani market. The
packaging is in very beautiful design and very handy for everyday use because of its strength.
This newly introduced packaging will attract people, as it will also be useful for the opportunities
it provides to the people of Pakistan; they will see the good change in the packaging of tea.

Pyramid Tea has strong competitors that can affect the target market of Pyramid Tea like
Lipton, Tetley, Tapal, Brooke Bond, and Taiz Dam which are the strong brands so the strategies
for beating them won’t be easy. The marketing plan therefore has to consider all these details.

MARKET ANALYSIS
Market analysis builds on customer and competitors examination to make some strategic
judgments about the market (and submarket) and its dynamics. One of the primary objectives of
a market analysis is to determine the attractiveness of a market or sub market to current and
potential participants. Market attractiveness, the market’s profits potential as measured by the
long term return on investment achieved by its participants will provide important input into the
product market investment decision.

A second objective of market analysis is to understand the dynamics of the market. The need is
to identify emerging sub market, key success factors, trends threats, opportunities, and strategic
uncertainty that can guide information gathering and analysis.

DIMENSION OF MARKET ANALYSIS

The nature and content of an analysis of a market and its relevant product markets will depend
on context, but will often include the following

 Emerging submarkets
 Actual and potential market and submarket size
 Market and sub market growth
 Market and sub market profitability
 Cost structure

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  Distribution system
 Trends and development
 Key success factors

BUSINESS MARKET DEFINITION

The term business market refers to the group of consumers or organizations that are interested
in the product, has the resources to purchase the product, and is permitted by law and other
regulations to acquire the product. The market definition begins with the total population and
progressively narrows as shown in the following diagram

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MARKET SIZE
As we know that it’s a local brand and it’s a new brand in tea industry thus it’s in an introductory
stage. The current market size of our product is 5% of the total tea industry because its catering
the lower class and this 5 % is an assumption because we are launching the product.

MARKET POTENTIAL
The future potential of our product is to capture high market share in the industry because it is a
less expensive product that’s why in the near future it has a great opportunity to grow in the
industry.

MARKET STRUCTURE
There are many firms in the tea industry; the direct and indirect competitors of Pyramid Tea are
Lipton, Tetley, Tapal, Brooke Bond, and Taiz Dam. Taiz Dam is a direct competitor because it
has low market share about 3 % in the industry while Tapal has the market share of 14%.

MARKET TRENDS
As we have mentioned above it is a local brand and it is catering the lower class market so we
have to give free sachets for promotion and awareness of the product; doing so will increase our
sales in the near future. It will be further elaborated in Competitor’s Analysis.

ENVIRONMENTAL ANALYSIS
 Social and Cultural Forces

In Pakistan tea industry, society and culture plays an important role in determining the
demand, developing the marketing plan and formulating business strategies. The non-
alcoholic Islamic society, traditional hospitality culture, increasing prices of cola beverages
and increasing poverty levels are the main driving forces of Pakistani Tea Industry. Although
the growth rate is low, these forces are responsible in growth of tea industry.

 Political and Legal Forces

The tea market is very much dependant on political and legal forces. Tea industry is
suffering due smuggling but due to certain political reasons i.e. the relations with
Afghanistan and scarcity of employment opportunities in bordering areas with Afghanistan
restrict Government of Pakistan to take preventive actions. Taxes and Excise duty are of
real importance for tea industry a minor change in duties may affect the balance of legal and
illegal imports resultantly it influence the profitability of tea marketers.

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  Technological Forces

Technological forces that may apply to tea industry are good machinery for refining and
packaging and an efficient distribution network equipped with latest technology. The
distribution network must have an efficient ordering and delivery system enforced with a
fleet of delivery vehicles. In tea industry latest machinery for packaging and refining is
important but an efficient distribution network is most important. Pyramid has latest
machinery for refining and packaging, but in distribution pyramid is lacking behind its
competitor Lipton which has a modernized distribution network. Lipton and Tetley being
international firms have an upper hand in bringing new technological changes fast as they
are financially strong.

 Economic Conditions

Changes in economy have a major impact on tea industry. High inflation rates hamper the
buying power of consumers resultantly they reduce consumption, as tea is not a necessity of
life. Good economic conditions boost the industry in shape of enhanced buying and
consumption. This is also evident from the previous market size and growth, as described
earlier, when in year 2008 the consumption of tea dropped despite reduction in international
prices. The main reason behind this was unfavorable local and international economic
conditions.

Inflation plays a major role on the marketing strategies used by a company due to two main
reasons. Firstly, inflation affects the consumers’ psychology and they become more
selective in their purchases. Secondly, inflation results in increased prices for the raw
materials, which in turn increases the cost of production. This factor plays a major role
especially if the increase in cost cannot be transferred to the consumers in the form of
enhanced sale prices. To combat this monster effective cost minimizing strategies have to
be adopted by pyramid. These strategies should be focused in simplifying production
processes by continued research and development process.

OPPORTUNITIES (O)
 Expanding Rural Market
 Shift of customers from cola drinks to low cost drinks
 Growing awareness among persons regarding medical benefits of tea
 Exports

THREATS (T)
 Illegal imports under umbrella Afghan transits trade
 Internationally increasing  tea prices

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  High inflation rate within country
 Deterioration buying power of consumers 
 Shortage and increasing prices of electricity
COMPANY MISSION STATEMENT
“Never compromise on quality" has been the motto at Pyramid Tea since its birth. The
commitment to quality will eventually result in a high level of customer satisfaction and
unflinching brand loyalty.

MARKETING MIX ASSESMENT

 Increase market share
 Generate brand awareness within consumer target market and business target market.
 The road ahead promises plenty. The goal is to move the brand portfolio from its current
19% value share to a 25% value share in the medium term

PRODUCT
Pyramid Tea is a new brand in the market. Apart from building and strengthening brand
imagery, the company has significantly increased its focus on delighting the consumer through
the superiority of its product delivery.

PRICING
The company is concentrating on building value around its brands to distinguish it from
competitors. The median price for a 250-gm pack in Pakistan is approximately Rs 42.50.
Pyramid Tea plans to win away these consumers through its branding initiatives. On the basis of
prices, the largest segment of the packed tea market is economy at 61% where the average tea
price is less than Rs 145 per kg; followed by the popular segment where pricing is in the Rs
145-180 per kg range and then the premium end beyond Rs 180 per kg.

DISTRIBUTION (PLACEMENT)

Placement is done by the best known and established dealers and retailers. The following
distribution channel would be used for distribution of the products in the neighboring cities. For
the purpose of Physical flow of the product, Information flow, Payment flow, Promotion flow

Distribution Plan

Manufacturer Wholealer Dealer Retailer Consumer

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PROMOTION

Create an advertising campaign to build brand awareness and differentiate products quality
from competitors through emphasizing trade-sales promotion to support distribution strategy.
Pyramid Tea’s brand-building initiatives are focused on taste, quality and imagery.

COMPANY BRAND IMAGE

The brand is new in the market as the name of pyramid that’s why it takes time to gains it
market share because there are giants in the market like Lipton, Tetley, Tapal, Brooke Bond,
and Taiz Dam that’s why in competitors mind it’s a cheap brand because its new in the market.

ASSESSMENT OF COMPANY STRENGTH AND WEAKNESS

STRENGTHS (S)
 Localized Tea brand
 Vast Experience ranging from lose tea retailer to marketers/manufacture of well
recognized brand of high quality tea
 Integrated Production Process
 Commitment for Quality
 Continuous R & D

WEAKNESSES (W)
 “Seth” like culture
 Distribution network relatively weaker than competitors
 Less retail outlet coverage
 Less resources as compared to No. 1 competitor

CUSTOMER ANALYSIS
Without customers, a business cannot survive therefore at Pyramid it’s our topmost priority to
duly identify the needs and wants of customer and deliver the value they expect from us. The
term customer refers to not only to current customer for a given product but also both customers
of the competitor and current non-customer of the product. Though we are only going to talk
about our product a strong flavor & taste. Originally developed for hot tea shops, Pyramid Tea
has become a favorite amongst household consumers as well. It is the most popular brand of
tea in Sindh. A small quantity of Pyramid produces a strong cup, which makes it both suitable
for domestic use but even more for the hot tea shop consumers who prefer a quick strong bright
cup.

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Each customer is unique to some degree. Target marketing is typically efficient for a product like
tea, because tea is the product which is being consumed by all age.

Company will make positions through advertisement; through electronic and print media the
potential customers will be targeted. Company’s advertisement delivers following message

 Quality tea
 Better and beautiful design packaging
 Make within minimum time

MACRO ENVIRONMENT
 Political Environment

The tea market is very much dependant on Political forces. Foreign investors are attracted
to Pakistan as diversification strategies. The Pakistan government is on a regular effort
improving business relations with trade and investment partners in US and Asia. Tea
industry is suffering due smuggling and ATT but due to certain political reasons i.e. the
relations with Afghanistan and scarcity of employment opportunities in bordering areas with
Afghanistan restrict Government of Pakistan to take preventive actions. Taxes and Excise
duty are of real importance for tea industry a minor change in duties may affect the balance
of legal and illegal imports resultantly it influence the profitability of tea marketers.

 Economical Environment

In Pakistan, high inflation rates definitely impact the consumption level of consumers. But
here the economy is becoming more saturated. The rich are becoming richer and the poor
families are becoming poorer. However due to the overall economic developments, the life
style of the people is improving and thus purchasing power has enhanced. Tea comes
under the beverage category, thus when the income level of the house hold increases its
expenditures increase that of luxurious items than food and beverage.

By keeping in mind the per capita income of the people of Pakistan, we intend to launch
Pyramid Tea, aiming at the high and upper-middle income groups, who are willing to pay a
premium price for such an innovative and distinct product. Pyramid Tea is considered to be
a superior product as it is distinct from the conventional tea available in the market by the
competitors, in the sense of its form, taste and nutritional attributes.

 Social Environment

In Pakistan, the concept of tea is that of a hot drink that is served with milk, which is taken in
the leisure time. However launching Pyramid Tea is quite a challenge as the people in
Pakistan are not only resistant to change but also have rigid views about the concept of tea
itself. Still tea industry having growth just because the other indirect competitors like cold

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 drinks increasing their prices and increasing poverty levels are the main driving forces of
Pakistani Tea Industry. These forces are responsible in growth of tea industry.

 Technological Environment

Technological forces that may apply to tea industry are good machinery for refining and
packaging and an efficient distribution network equipped with latest technology. We do
much too focus on our packaging, the pyramid shape tea box looks and it colors should
attract the customers. The distribution network must have an efficient ordering and
delivery system enforced with a fleet of delivery vehicles. In tea industry latest machinery
for packaging and refining is important but an efficient distribution network is most
important for availability of product.

MICRO ENVIRONMENT
 Customers

We have a diversified customer base ranging from urban to rural areas including various
institutions like Hotels, hospitals, corporate clients and Departmental stores, trading stores,
and retailers and international buyers.

The need identified of the market is everyone wants to refresh their mind while doing routine
works. Thus the product would be used by children, teenagers and young adults.

 Competitors

For Pyramid Tea, the direct competitors belong to the tea and the indirect competitors are
of the beverage industry. These competitors are market leaders or at least definitely strong
challengers on their own and have a strong image in the minds of the consumers.

The market leaders have opted for mass marketing, aiming to attain maximum market
share, hence in hope of maximizing their profits. Whereas we are about to launch a
relatively new product, therefore we have chosen to take out our tea in Karachi and
Hyderabad in the form of selective marketing. The consumers we hope to attract belong to
the upper and the upper-middle class. The competitors in the tea and beverage industry
have the first mover advantage and also cause of this they have had enough time to
establish a proper brand name for them. Because they have not lonely have had a higher
market share, but these companies are also backed by large corporate names such as
Tapal, Lipton and Brooke Bond.

SWOT ANALYSIS
 STRENGTHS

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  The first to introduce pyramid type tea bags
 Pyramid shaped bags were pioneered to others
 provide more room for infusion of the leaves
 Delivering faster and better infusion.
 The first tea company to be awarded the ISO 9001/2000 Quality Certification
 Following different flavors are available in different markets
 White Tea
 Green Tea
 Earl Grey tea
 Gold Tea
 Red Tea
 Tuscan Lemon

 WEAKNESSES

 Pyramid Tea competitors which are internationally well known and are in the
market before pyramid came into being. So the revenue generation of this
company is more than pyramid
 As pyramid is totally Pakistani based company so it is not usually preferred
abroad
 Therefore, export of this product is almost nil

 OPPORTUNITIES

 Increase tea usage can provide opportunities to introduce new flavored of tea
 Tea is mostly in demand in the local areas. And pyramid is easily reachable in
such areas because of their accepted prices and varieties according to the taste
of consumers
 Initiatives in price pack category as to capture value from price sensitive
customers
 Rapid growth in population

 THREATS

 Attraction for new entrants in the industry

 High inflation rate within country.
 Shortage and increasing prices of electricity.
 New policies of the government i.e. import duty, excise duty etc

OBJECTIVES
 To develop strong distribution network, improve the number of distributers from 35 to 45
which would result in 45% outlet coverage of both retailers and wholesalers. This will
lead to 17 to 20% sales revenue
 To attract customers by its well design and innovative packaging and which will preserve
the freshness of tea for a long time
 To capture the tea market for working on future growth

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These objectives would lead to increase in the sales revenue up to 30% and profitability will rise
up to 15 %.

TARGET MARKET

Each customer is unique to some degree. Target marketing is typically efficient for the product
like tea, because tea is the product which is consumed by the people of all ages and from all
walks of life.

There are variety of customers which the company has to target, they include:

 School and college going students prefer tea which could be prepared in a very short
time period as they have a hectic schedule and have to manage time accordingly to give
adequate time to studies, pyramid tea therefore has offered pyramid tea bag for this
sector.
 Housewives need convenience so pyramid tea bag offer them convenience and quality
simultaneously giving them sufficient for other household chores.

The following bar chart shows the consumption percentage of Pyramid Tea, it is an online
survey conducted by Pyramid Tea Manufacturing Company.

College Student 15%

Household 20%

Professionals 29%

Pyramid Consumption

30%
20%
10%
0%
Collage student
Household
Professionals

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MARKETING STRATEGY

For the target market the company has developed the marketing mix using the 4P’s which will
eventually form the marketing strategy of the company for the target market.

PRODUCT STRATEGY

For producing better and consistent quality product the company signs a 3 years contract with
Kenya Tea Development Agency (KTDA) which is the highest earning company in Kenya and
widely known for its premium quality. This contract will extend further after 3 years if the
company and consumers are satisfied the product they are being offered. So this contract
enables the company to deliver tea for a continuous time period, no shortage will occur of the
product. This will facilitate the company to deliver its good quality tea consistency. Since,
Pyramid Tea packaging is introducing pyramid shaped packaging for the first time in Pakistan,
which is more comfortable more striking than others. Company hardly works on packaging. As
good quality product is also offered by other companies like Tapal, Lipton, Supreme etc but
Pyramid Tea takes competitive advantage on its packaging. It has also long preserved time. It
provides 20% extra preservative time than competitors, it will also go for tea bags. Pyramid Tea
bags are also in pyramid shape which can easily dissolve in water thus it is better tasting and
consistent quality product. It is applied as product strategies. Product is available in following
size with its percentage of production.

Sachet 30%
60 gm pack 20%
125 gm pack 20%
250 gm pack 15%
Tea bags 10 %

The percentages of production, for all the available sizes, are produced after extensive research
of usage amount by consumers.

PRICE STRATEGY

Pyramid Tea is producing better quality product with great packaging so it price cannot be less
than its major competitors like Tapal, Supreme and Lipton. Pyramid Tea will charge in
accordance with the price charged by competitors. Since Pyramid Tea is charging these prices
in its introductive stage so this will be successful strategy at that time. Price will be same in
every region of the country. This pricing strategy is for current growth stage while in future or its
maturity stage price can be changed according to inflation and various external and internal
factors. Following is the table depicting the prices of different sizes:

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 Sachet 5 Rs
60gm pack 20Rs
125 pack 40Rs
200 pack 80 Rs
Tea bags 100 qty 110 Rs
Tea bags 150 qty 160 Rs

PLACE AND DISTRIBUTION

Pyramid tea develops its own 800 distribution network in major cities of the country with efficient
qualified people. That will result in the great advantage of delivering products on the time. There
will be no risk of bad relationship neither it can be copied by competitors.

Pyramid tea locates its distribution networks in major cities of Pakistan like Karachi, Lahore, and
Islamabad etc where there is high market growth. In these major cities of the country Pyramid
tea achieves its target market better. This place strategy is for current growth stage of the
company but in the near future pyramid tea spread its distribution network from urban areas to
rural areas of the country.

PROMOTION STRATEGY

Pyramid tea is in growing stage so it needs greater advertisement. There are various
promotional activities prevailing through print media and electronic media. In print media we
advertise on news papers and magazine; news papers are Jung, Daily Dawn, The News and
Express and magazine are Masala, Dalda ka Dastarkhuwaan, Akhbare Jahan. Billboards are
also used as a medium of advertisement by pyramid tea. In electronic media Pyramid tea is the
main sponsor of Geo TV morning show “Chai with Nadia Khan” in which the brand used of chai
is Pyramid tea. That is targeting house wives, professional and students also because the
program is very famous in which Nadia Khan interviews famous celebrities. Pyramid tea has
also signed a year contract with Expo Center for the next 1 year in every exhibition pyramid tea
will be used, which will eventually increase its sale and also will target the different people at
different exhibition like female and youngster by fashion exhibition, student through educative
exhibition and so on. It will result in high percentage of sales. Also visits by various female
colleges and universities and organization.

BUDGET OF PYRAMID

FINANCIAL ANALYSIS

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Total start-up cost of our Pyramid Tea will be 90000. This includes through which our tea is
delivered, its utilities, rent, other expenses placing stalls in different universities and cash on
hand.

The projected financial analysis is done on semi-annual basis.

SALES

Tea bag sold=1000

Average price /tea bag=10

Total sales=100000

Fixed cost

Electricity 5000

Rent 10000

Other expenses (telephone, internet) 10000

Total fixed cost 25000

Variable cost 35000

Income Statement

Sales 100000

Variable cost 35000

Contribution margin 65000

Fixed cost (25000)

Gross profit 40000

Operating expenses (10000)

Net profit 30000

Break-even point (in units)

BEP = fixed cost/cm per

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 BEP = 25000/6.5

BEP = 3846

IMPLEMENTATION

What How Who When

SUPPLY CHAIN MANAGEMENT

Integrate
Supply By using ORACLE-ERP to its Supply Chain Immediately and then
Chain optimal utilization. Manager quarterly
effectively.

PROCUREMENT AND SOURCING

Identifying the countries that are manufacturer

Identify maximum
of tea then directly order them instead of any Purchasing Continuous
suppliers from
middle man, so you can bring significant Officer process
global market
savings.

PRODUCTION AND INVENTORY MANAGEMENT

Decrease By master production scheduling of all production

Inventory
Operating Costs to processes and operations and by controlling Continuous
Control
cope up with wastage and efficient and effective utilization of process
Officer
inflation. resources to achieve maximum output.

WAREHOUSE AND SAFETY STOCK

Warehouses should be near at It will bring much saving for Store Within few
production unit transportation cost Manager months

CHANNEL AND DISTRIBUTION NETWORK

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 By outsourcing more third party Marketing manager and
Distributio Immediately and
distributors in grey areas identified supply chain manager
n then quarterly
by marketing managers through periodical surveys

MARKETING STRATEGIES

By Using different awareness

Senior and Immediately effort till
Effective promotion programs activities and celebrity
Middle Pyramid Tea has
and advertisement endorsement Pyramid Tea will
marketing and reach on maturity
strategy enhance the customer base
sales people. stage
management.

RESEARCH AND DEVELOPMENT

Upgrade Research Through research and comparing packing of our R&D By End
and Development. products and competitors products packaging. Department of 2010
Through increasing investment in R & D by 10%.

CAPTURE THE LOOSE TEA MARKET

Perusing policy makers to restrict tea volume under

Afghan Transits Trade to actual demand of Integrated
Capturing After
Afghanistan. At company level special group will be effort of
loose tea approval of
formed which will study market and propose cost relevant
market feasibility
effective measures in packaging as loose tea lovers department
are mostly price conscious

HUMAN RESOURCE MANAGEMENT

Increase Senior and Middle

Through training and Continuous
capabilities of management (HR, IT &
development specially for process
workforce. Marketing)
SAP-ERP

TECHNOLOGY

Set up specialized Senior and Middle Continuous

manufacturing plant to cater By investing in new management (HR, IT & process
children segment. plants and

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 equipment. Marketing)

CONCLUSION
Pyramid tea is in the introductive stage and has to achieve its objectives that are to maximize
profit, to improve distributor network and to make good and consistent quality product. For
achieving objectives marketing strategic plan is made which defines the amount of budget
required, how to target customers, how to improve product quality, how to deal with competition
and various other factors. So by implementing of this report company can achieve objectives.

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