Marketing Project Proposal (Hk Vita free essay sample

) To analyze the Marketing Strategy of the Vitasoy and its Future Expansion through Product Diversification in Hong Kong By Project Proposal Presented to In Partial Fulfillment of the Requirements For Higher Diploma in Marketing 2011/12 Objectives of the project Vitasoy started its development from soymilk, although it has developed a lot of drinks besides soymilk. The target market of Vitasoy is the Hong Kong citizens. In Hong Kong, the value stated in above could perform with others drinks, such as Coca-Cola, Ribena, etc.The market of soft drinks nowadays is getting saturated, so we are going to investigate the feasibility of developing new products and hence enlarge the market share for the future expansion. On the other hand, we would like to analyze their products for reconstruction of the product lines Background for the study Vitasoy has done lots of researches on the products in order to keep its leadership position in Hong Kong. We will write a custom essay sample on Marketing Project Proposal (Hk Vita or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However the soft drinks market is getting saturated. Actually products have been introduced to the market not only soft drinks, but also some kinds of food.The sub brand San Sui provides some soy related products like tofu. When we aware the situation, the number of competitors grows very fast, lots of the soft drinks are introduced into the market. Vitasoy should not only develop the new favors, Vitasoy has to create some new products, in order to keep the competitiveness in the field. Hence, we are going to do the analysis on the feasibility of product diversification some un-popular products from the existing product lines will be explore through the data analysis in our summary.We also study Vitasoy’s past marketing strategy to find out the expectation of the public and the future marketing direction. Literature Review The literature review let us analyze Vitasoy’s past marketing strategies, and understand more about Vitasoy’s history and other basic information. So reading the literature review is very useful and important. After reading the literature review, we can easily to collect the useful information and build up the basic concept about our topic. Also, reading the literature review not only get the basic information, but also the useful secondary information.This information has already generalized by others, so we can easily to get the main idea. When we are doing this project, this information can guide us to handle it. The Methodologies 1. Questionnaire survey For the questionnaires’ result, we will mainly collect data about the perception of customers on Vitasoy’s products and the image of Vitasoy. Also, for the literature review, we will focus on the news, surveys and other reports about the Vitasoy. In the questionnaires, it has so many benefits in our project.First of all, the questionnaires can give us the primary information. The primary information let us understand more about the market’s needs and wants. This gives us the information to know which products make Vitasoy more successful. Also, we know more about the different consumers’ needs and wants, such as the high income people. Beside, the questionnaire lets us to collect much information and data more efficiently, so we can save time and resource for collecting it. In this point, we will have much time to handle the information and data.Before collecting the information and data, we need to design the questions. The questions should be standardized for the easy processing of data. 3. 1 Research Questions 1) Why is Vitasoy successful in Hong Kong in the following aspects? a) Price b)Good Taste c)Nice Package 2) What is the critical factor when you buy the products of Vitasoy? 3) Under the same product category, which brand will you choose? 4) Through which channel will you buy the company’s product? 5) Within each product line of Vitasoy, which product does you like most? 3. Population and population size The population is Hong Kong citizens, and the population size is 7 million 3. Sample size The sample size of our project is 400 samples at 95% level of confidence. 4. Sampling method Simple random sampling method Anticipated Problems Suggested Solutions The first anticipated problem is the difficulties to cover interviewees in all ages. Since the online questionnaire are not applicable to all the people, as the elderly are not familiar with the usage of computer, so written questionnaire are used to tackle this problem.The second anticipated problem is the statistical error arose from the analysis of the questionnaire. In order to solve this, the questions needed to be stated clearly and specifically. Foreseeable Contributions from the Study Limitations of the Project The foreseeable contribution from the study could divide into the two aspects, the company and us. For the company, Vitasoy has developed and entered into the mature stage for a long time. As the market is saturated, we would like to suggest Vitasoy to develop new products for maintaining its competiveness and market share.