Marketing Business Plan for Soy Protein Assignment

Marketing Business Plan for Soy Protein - Assignment Example HANGES MADE] 14 Part VI: Marketing Mix [CHANGES MADE] 15 Reference 17 Appendix A 20 Executive Summary 2 Part II: Marketing Plan 5 Business Review 5 Scope 5 Strength 5 Weakness 5 Opportunity 6 Threat 6 Product and Market Review 6 Analysis of the Product 6 Sales Trends for the Product 6 Consumer Behavior Trends 7 Pricing and Distribution 7 Competitive Review 7 Target Market Effectors 8 Target Market 8 Target Market Awareness 8 Target Market Attitude 8 Part III: Marketing Analysis: Market Characteristics/Trends 10 Market segment 10 Market trends 10 Market type 10 Product knowledge 11 Sales area 11 Part IV: Marketing Analysis: Competition 12 Part V: Target Market [CHANGES MADE] 14 Part VI: Marketing Mix [CHANGES MADE] 15 Reference 17 Appendix A 20 Part II: Marketing Plan Business Review Scope The scope of this project is to create a marketing plan of Soy Protein in the United States of America and thereby capturing a decent market share and increasing its sales volume by 10% in USA. The project thereby endeavors to understand the potential strengths and weaknesses of the product which should be managed to gain advantage of the different opportunities and counter threats in the external market. Changes in desires and tastes of the target market and action of the competitors are studied in order to modify the product features so as to match the needs of the people. Strength Soy Protein has found increased use in regards to women in offering them large number of benefits across different stages of their life. It helps to improve the dietary and cardio-vascular positions of the women. Further the intake of Soy Protein has helped them in countering the effects of menopause and helps to prevent cancer and obesity related diseases (Montgomery, 2003, p.44). Weakness The product... The paper talks about the Soy Protein, a vegetable protein mainly found in Soybeans. This protein acts as a potential substitute to the intake of animal proteins. This leguminous product is free of cholesterol and has low fat content. Further the product is composed of amino acids and different minerals with Vitamin B. it also has good fiber content. In United States the Soy Protein market depicts huge marketing and sales volume. The sales trend measurement for the 2004 period shows that the market grew to around 4.1 billion. This growth trend reflects a 5 percent growth from the previous year. While Soy Proteins is recognized as a healthy diet supplement to animal proteins, some consumers acceptance of Soy Proteins is limited due to its unfavorable taste and and the lack of proper knowledge of the product. Children are found not to favor the intake of Soy Proteins owing to unfavorable tastes. However the women and old age population also fail to intake needed quantities of Soy Prote ins owing to unavailability of proper knowledge as to the varities available. In terms of pricing the Soy Protein products help in providing the consumers affordable healthy food items in comparison to animal proteins. The pricing of such food products are conducted based on stability parameters so as to avoid price fluctuations. Distribution parameters in regards to Soy Protein products earns effectiveness owing to the different types of production processes leading to the production of natural and synthetic soy protein in large volumes.