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 isto create brand value and expand the
customer base of our product.We will focusonaspecificsetofcustomersby three varietiesofproductwhich
willfocuson Athletes, Fitness freaks and people who are vegan or lactose intolerant.Oneoftheobjectives 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

GARURDWAR 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 offhand 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 analysing 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 photo-monadic 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
• Ad’s 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
help 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 flavours 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 Soy Pure 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- Neeraj Chopra • Lack of awareness about the product.
• Comparative lesser price than competitors’
products.
• The product being organic and vegan.
• High product quality and availability in
various flavours.
Opportunities Threats
 • Creating awareness about soymilk in semi • Shortage of skilled labourers.
urban regions. • Dealing with cultural diversity.
• Ensuring the availability of the product in • Established reputation of competitors.
semi urban regions.

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 So Good Hersey’s – Sofit

Image

Objectives • Compliance culture commitment. • Giving high calibre HERSHEY’S items

• Creating superior, long-term value. 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 not
looking for good quality branded products. drink animal’s milk.

Target Group • Urban middle and upper middle class • Kids and adults who want the benefits of
milk with soya
Positioning • So Good is a world class company • Not exactly milk, but something which
providing good quality and healthy provides even more nutritional benefits
beverages.
Strength • Global reach with presence in over 20 • Renowned Reputation
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 cities.
controversies in different countries of
operation cause issues.
Competitors’ • As both the competitors are Global Key Player with huge product line. A local company for a
Reaction 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 Boost 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 consumergoods.
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 Boost 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 Boost 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.

DISTRIBUTION CHANNEL OF GARURDWAR

(DELHI ONLY)

Distribution channel is a path through which the products that a producer produces move from the place of
production to the place of ultimate consumption. It is a connecting link between the producer and consumer to sell
the products.

VERTICAL INTERGRATION:

The Product will be manufactured in Delhi and the raw material will be supplied from
Madhya Pradesh as the beans is cultivated in the state at huge amount.
 Note: Wholesalers are not a part of the formal structure of GARURDWAR .They make bulk
purchases from the distributors directly thereby leveraging on the margins.

The companies mainly ensure that throughout the whole process of transportation right
From the factory to the distributor a cool chain of transportation is available and the
Goods are being transported in a controlled temperature by the hired transporters.

For the purpose of transporting soy milk from the godown to the cash distributor
Dedicated air-conditioned vehicles are being used.

The company opted for selective distribution. By choosing selective distribution the company choose
limited number of outlets in a geographical area to sell the product, this helps the producer in choosing
the most appropriate or best performing outlets. This distribution will help the company in attracting the
target customers as they have a preference for the soy milk and will search out the outlets that supply.
Our target customers are fitness freaks, Athletes, vegans and such individuals who are lactose intolerant.

INFRASTRUCTURE:
We have planned an appropriate infrastructure.
a) Godowns / storage space
b) Delivery vehicles
c) Salesman

WHOLESELLERS:

They are not the part of formal structure of our company; they buy the products from us resells the
products. The whole sellers get the margin of about 2% from the distributors .some of the whole sellers
are in areas like Sadar bazaar Delhi.

RETAILERS:

Our retailers are Karol bagh

a) Cool palace
b) Ashoka stores
c) Sindhi corner

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 Up to 2 lakhs Item Sold – approx. 2 lakhs

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: - Adults (18+)
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”- “18+” “age” – “Males” – “fitnessfreak” – “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.

• 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
areindividuals from Delhi, age 18+ and also health conscious and Athletes. Our brand will be
positioned under “AtmaNirbhar 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

• 5 C’s

1. CONTEXT

PESTEL Analysis
Political factor-

• The soya pure should analyse the political stability before starting operation
in Delhi.
• “Made in India” will serve as an influencing factor.

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 Boost should analyse eating habits and religion, family structure or family
size.
• Soya Boost should focus on vegans and health-conscious consumers.

Technological 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.

2. CONSUMER

Our consumers are basically the fitness enthusiast, athletes of Delhi.

3. COMPANY

Soy Boost vision is to provide Indians with a range of dairy free and
vegan beverage which is made in India. The company shall procure its
raw materials from Madhya Pradesh. The Company will be partially
financed by venture capitalist and partially by the partners owned funds.

4. COMPETITORS

We have identified Hershey’s and So Good as our competitors. They

have as huge market capture specially Hershey’s.

5. COLLABORATORS

Initially, we are focused to generate product awareness among the

consumers. And so, we choose to collaborate with gyms in Delhi and
sports academy such as DCA (Delhi Cricket Academy).

• 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 and Classic Soymilk. The product will weight 200 ml 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 Kesar Badaam Soymilk will amount to Rs. 35.00. The mark up, Unit Cost, Break Even
analysis is listed below.

KESAR BADAAM

Fixed Cost Variable cost

Plant & Machinery 7,50,000.00 Electricity 50,000.00
Salaries & Wages 57,60,000.00 Raw Materials 20,00,000.00
Rental Lease 2,99,000.00 Repair & Maintenance 15,000.00
Transportation 1,50,000.00
Others 1,00,000.00
Total 68,09,000.00 Total 23,15,000.00

Per day Production 1,000.00

Yearly Production 3,12,000.00
Mark up 16.45%
Unit Cost 29.24
Mark up Price per unit 35.00

Break Even volume 2,46,880.65

Break Even Sales 86,41,144.78

Revenue on estimated sales 1,09,20,000.00

Total Cost 91,24,000.00
Profit 17,96,000.00

CLASSIC SOYA MILK

The price of Classic Soya milk will amount to Rs. 30.00. The mark up, Unit Cost, Break Even
analysis is listed below.

Fixed Cost Variable cost

Plant & Machinery 7,50,000.00 Electricity 50,000.00
Salaries & Wages 57,60,000.00 Raw Materials 13,00,000.00
Rental Lease 2,99,000.00 Repair & Maintenance 15,000.00
Transportation 1,50,000.00
Others 1,00,000.00
Total 68,09,000.00 Total 16,15,000.00

Per day Production 1,000.00

Yearly Production 3,12,000.00
Mark up 10%
Unit Cost 27.00
Mark up Price per unit 30.00

Break Even Volume 2,74,294.13

Break Even Sales 82,28,823.76

Revenue on Estimated Sales 93,60,000.00

Total Cost 84,24,000.00
Profit 9,36,000.00

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 Neeraj Chopra will be the brand ambassador of
the company. A 30 seconds advertising where Neeraj Chopra will influence and motivate
the people for drink the healthy and organic ready to drink beverage.

QUESTIONAIRE

• NAME OF THE RESPONDENT : _____________________

▪ AGE
A. 20-30 B.30-40 C. Above

▪ GENDER

A.MALE B.FEMALE

▪ Income level
a. 10k-20k b.20k-50k c.50k-100k d. above 100k

▪ Are you concerned about heart disease, diabetes, overweight, blood pressure?
a. yes b. no c .may be d. at times

▪ Have you heard of soya milk before?

a. yes i have b .may be c. i don’t remember d. never

▪ Have you ever consumed any soya product till now?

A .yes i have b. no i haven’t c. rarely d .never

▪ If yes does it taste better than dairy milk?

a. Yes it taste better
b. couldn’t find any difference
c .no i like dairy milk better
d. no i have never consumed soya milk before
▪ Are you willing to include it in your diet if it is available?
a. yes i would b .i may c .no i won’t d. it depends

▪ Are you willing to pay a slightly high price for soya milk?
a. yes i would b .i may c. depends on quality d. no i won’t

▪ At what quantity would you like to purchase soya milk?

a.250ml b.500ml c.1litre d.2litre

▪ Would you prefer soya milk if it came in different flavours?

a. Yes i would b.I may c. no i won’t d .depends on
flavours
• DESIGNING
 SoyaDrink
NaturallySugarFree

25

20

15

10

Soya Kesar Plant Dietary

Beans Badam Protein Fiber
 Fssai
LIC NO:140025140015140089
 Product type Quantity Flavours available Price
Purified Water and Rs 30
Soyabean (16.15%)
Classic Soy milk 200 ml & no added colours
Purified Water and Rs 35
Soyabean (16.15%)
& Cocoa solids
Choco-badaam 200 ml (0.80%)

• 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 bloggers’ channels that 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 So Good and Hersey are
dominating in the market.
 ➢ IMPLIMENTATION PLAN

In the first phase Soy Boost 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. SoyaBoost website and social media pages will provide information about
the release date information, Point of purchase. Neeraj Chopra will be the brand ambassador
for Soy Boost. 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.Inthisphaseonly, influencerswillbeinstructedtofeaturetheproducttotheirrespective
audiences.