EXECUTIVE SUMMARY Asyla Blended scotch, Oak cross malt, The peat Monster Scotch whisky’s will be prominent whisky products for people in Singapore. They are the products of Compass Box Whisky, a company operating from London with its distributors around the world. Compass Box products are known for there quality and standards.
In July 2005 whisky pioneers, Compass Box, have been awarded best in class 3 times at the world’s most prestigious drinks awards, the international wine and spirit competition 2005 (IWSC).Compass Box already has wide range of Whisky products available in the Singapore market. The unique feature for our products from all the other available in the market is in its aroma & flavor. It is believed that people will buy our product not only to drink but to have a unique taste which our whiskies have.
Additionally the Whisky is also containing unique flavors and available in special cases. These features will help the brand to attract customers and create a good brand image in the market.Compass Box Whisky will be available in all Major super market and convenient stores like 7eleven and throughout Singapore and also it can be purchased online. The marketing campaign will be focusing on each and everyone who wants unique drinks especially the premium class of customers. Compass Box Whisky will achieve fast, significant market penetration through a solid marketing campaign of TV and print advertisements and also sponsorship of social programs, long term planning and strong management team that is able to execute its marketing and planning successfully.
The strong and established distribution will play the major role in its development to reach the...
customer on time and providing maximum customer satisfaction. Introduction The purpose of this report is to identify and analyze the competitive environment of liquor industry in Singapore. This plan is to assist Compass Box and The Pacific Cigar Co. (its distributor in Singapore) to provide knowledge to the market of product existence and appreciation, provide strategic marketing and operational approach to achieve a foothold in the Singapore and a larger pie share.And when the program is proven a success, it will develop a pathway and allow marketing and promotion campaign for introduction of other Whisky range under Compass Box belt.
This plan highlights the products, its features, market analysis, target market and marketing strategies for the upcoming Whisky market in Singapore. The important aspects of the product considered are the marketing strategies and tactics which need to be implemented to increase the sales in Singapore market. The report is illustrated in accordance with the unit outline.There is an introduction, followed by the situational analysis, marketing strategy, marketing mix, market research, financials and controls which outline the key headings that are related to the topic. Theories, methods and analysis To support the analysis process, marketing management theories are put into practice.
Por-ter’s five forces technique is an important tool in modern business strategy to understand competition within the industry. Bos¬ton Consulting Group’s Model is used to assess company’s product portfolio performance. Ansoff Matrix helps to determine marketing strategy recommendations. .
0 SITUATIONAL ANALYSIS: Compass Box has a strong portfolio of nea
about 15 trusted whiskies, including Hedonism, Eleuthera, Flaming Heart, Magic Cask, Orangerie, Juveniles, Double Single, Monster, The Spice Tree, Elixir, Marriage, Big Block. In Whisky industry Compass Box is one of the new and premium companies in the world. Products like Aysla and The Peat Monster are well-known and considered as some of the best whiskies. Aysla, Oak Cross and The Peat Monster are new products in the whisky market with a unique taste and flavors.
They are innovative products in the market which have a savor to appeal the customers. 3. 1 Market Summary: Compass Box whisky is already an established brand in United Kingdom, where it is one of the popular malt whiskies with different flavors. As its product are already there in the Singapore market so the main emphasis will be on increasing the market share.
3. 1. 1 Target Market: The target market for Compass Box will be Hotels ( The Ritz-Carlton, The Raffles Hotel, The Fullerton etc. ) Hospitality, Lifestyle and F&B providers (Emerald Hill Group Pte Ltd, Imaginings Pte Ltd, The IndoChine Group etc.
Pubs, Discotheques, Bars Market Demographics: Geographic Unlike any other country, Singapore is small, with the total population of 4. 3 million and annual population growth rate of 2. 6. (www. singstat.
gov. sg) therefore it has no geographic limita¬tions that require much attention. However. because of its strategic location in SouthEast Asia business triangle, Singapore has successfully transformed itself into a powerful city port in which the backbone of its economy base on export-import trade and strategic business knowledge. DemographicThe Whisky industry sees Singapore as a very attractive and profitable market because of the diversity, advancement and good economic performance. The market comprise of male and female, range from teenagers to people in their late 50s, educated and business minded, preferably AB social class or may posses the ability and independence of earning an average income of S$ 3,500 a month.
Psychographic Whisky drinkers in Singapore are increasing. They are experimental, young enthusiastic impulsive people who seek variety and excitement with unique blend and taste. Singapore has its own style.Being a cosmopolitan country and Asia trade capital, people from all parts of the world flock here and even the premium class products are always in high demand and also the local residents like to splurge on eating and drinking imported branded products. Behavior Factors: Customers get the benefits of quality and taste. They drink it on regular basis, occasions and they are heavy users.
The buyers are expected to become loyal to the brand if they are satisfied. The customers will have the desire to buy the Compass Box whisky as they have a positive attitude towards the product and will be attracted because of its unique taste. . 1.
3 Market Trends: Compass Box Whisky will distinguish itself due to the special feature of its unique taste which is little known to people in the Singapore market. At present whisky’s are available in single malt or grain form, but all has the different taste. Our whisky will have a edge because of natural aroma and flavors. Now people want products
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