MKTG-716 Marketing PLAN FOR Molson Canadian PDF

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mandatory assignment 716-2020...

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MARKETING PLAN: MOLSON CANADIAN

MARKETING: MKTG_716 CENTENNIAL COLLEGE MARKETING PLAN SUBMITTED TO: PROF. KATHRYN FITZWILLIAM DATE: 3rd DECEMBER,2020 Sr.

Name

No. 1 2 3

Simranjeet Kaur Ritika Pinky

Student ID

3 3

Email ID

[email protected]

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MARKETING PLAN: MOLSON CANADIAN Molson Canadian Company Profile: The Molson Brewery in Canada and North America is the oldest known brewery. It was established in 1786 when John Molson was not only thirsting for a good beer, but for everyone to create a better society. Today, Molson Canadian and the Molson brand family maintain their tradition by discovering different methods for getting more people together through mutual interests and a passion for beer. Molson Canadian is a Canadian premium lager beer brewed from Canadian water, prairie malt, and free of preservatives at all moments. The consequence is a beer that is as pure as the nation it comes from, fresh and new. Canadian Molson focuses itself on being beer of hockey. Founded in 1959, this company's product contains 5% alcohol in each bottle, which also contains sweet floral and barley flavors with citrus, grain and sweet fruit extracts.

NEW PRODUCT DEVELOPMENT Listed are the innovative product ideas that Molson Canadian can consider: PRODUCT IDEA Molson for all

DESCRIPTION Molson is committed to the position that alcohol is marketed and consumed by people of the above legal age. We are introducing new Molson especially for the teenagers and elder people. Our Molson will have soda juices in different flavors, which are made from

The perfect beer for diabetic people

authentic fruits and no contamination. Everyone is often tempted to drink, so do diabetic patients. A new beer that is people friendly with zero sugar content and provides bold carbonation to refresh. It will be a light beer that will have zero or fewer

Introduction to fermented tea beers

calories and carbohydrates. This will be a fermented, low-alcohol drink made with tea, sugar, and bacteria. This drink will be infused with 2|Page

MARKETING PLAN: MOLSON CANADIAN herbs, fruits, tea, and some spices. This drink will benefit from detoxifying the human body and streamline the digestive system. A great beer for tea A responsible beer

lovers. With quality and taste, the idea is to make 100% of packing reusable, recyclable, compostable and biodegradable. All beverage cans to be plastic-free, fiber-based-six pack ring for all beverage cans. Having

a great impact on the environment. The product being proposed by Molson is a beer for everyone, a healthy beer. The features and benefits of this product are as follows:

Very healthy. The new Molson is extremely healthy, and appropriate for regular drinkers and health consious people.

A beer even for diabetic patients. Helps in providing great drinking experience to diabetic patients without the thought of medication and health-issues. Includes zero-sugar content, and fewer calories.

No contamination and made with fruits. A beer that is naturally brewed and made with fruits gives the authenic and wonderful experience.

Does not impact the digestive sysytem of the body. Unlike other beers, our new generation beer works great on the digestive system of the body. A person can even have these drinks for breakfast.

Provides different flavors and tastes. The different choice of flavor adds up in a new addiction to the people. A great flavor can be used to refresh one's morning.

Fermented tea beer helps detoxifying and energizing the body. The beer is made up of several natural ingredients which will help to detoxify and refreshen our body and mind. This beer will also prevent diseases and will elevate one's mood. The proposed name of the product and the rationale for choosing the product name:

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MARKETING PLAN: MOLSON CANADIAN

Healthy & tasty

Co-related to the product and it's features.

Gives an aura of drinking

Relateabe to every drinker ever.

CHUG!

Target Market: The target market chosen is for young Canadian adults, especially males. In Canada, Molson Coors Brewing Company has high brand recognition and retains its status as a national pioneer in the industry. A diversification plan has been modified by Molson Coors to do so. Young people are an existing demographic with little brand loyalty with which Molson wants to develop its credibility. Young Canadian people are much more concerned than past generations regarding their health. As demonstrated by their willing to spend more for enhanced health characteristics than former customers, millennials value the no artificial ingredients and low-calorie rate. Eventually, the maple taste evokes the Canadian heritage and furthermore, young Canadians' spirit of nationalism, creating brand loyalty to this new market. Consumers Need and wants on the bases of segmentation: Demographic Segment –  Age – 19-24 years people are more like to have social gatherings and also people age is 19 or more than 19 are eligible to drink legally in Canada.  Income – Average household income  Gender – 60% of males and 40% females Geographic Segment –  Country – Only target Canadians and almost the parts of north America as this company is totally based in Canada. Psychological Segment – 4|Page

MARKETING PLAN: MOLSON CANADIAN  Lifestyle – People who loves the sport especially Hockey and loves the entertainment.  Social class – As this brand focuses on the Canadian markets and one of the top brand in Canada, so people here tries to maintain their class by consuming Molson Canadian beer.

MARKET POSITIONING MAP A market positioning map is a way to access the competitive position of brands and businesses based

on two chosen dimensions. It helps to compare one product or brand portfolio to the products or brands of their competitors. Molson is just not a brand, it is a legacy [ CITATION 20220 \l 1033 ]. Molson is known for its iconic taste that is derived from authentic Canadian ingredients. It is one of the oldest operating breweries in Canada and North America and is the hallmark brand of Molson Coors Beverage Company[ CITATION MOL20 \l 1033 ]. The proposed Molson Healthy Beer for everyone will be a cut-throat competition to the beer industry.

Molson Canadian has many competitors online as well as brick and mortar shops:

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ratebeer.com)

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MARKETING PLAN: MOLSON CANADIAN

(ML)

4/5 stars)

1

HEINEKEN

4.05

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STELLA ARTOIS

3.15

3

CORONA EXTRA

4.20

4

BUDWEISER

4.50

650M L 500M L 710 ML 710 ML

2.37

3782

2.72

3309

2.06

3663

1.75/5

3798

https://www.ratebeer.com/beer /heineken/37/ https://www.ratebeer.com/beer /stella-artois/1478/ https://www.ratebeer.com/beer /corona-extra/742/ https://www.ratebeer.com/beer /budweiser/473/

These advancements and innovations of producing a healthy beer are yet to be introduced in the beer market. However, Stella Artois is a tough competitor for Molson Canadian in terms of its price and consumer ratings. With a rating of 2.72/5, and a cheaper price Stella Artois has captured its market. However, Molson Canadian will have to make a pricing strategy in a range that consumers are interested in, and they share a positive response to the innovation. Product Lifecycle: A product life cycle is the measure of time an item goes from being brought into the market until it's removed from the racks. There are four phases in an item's life cycle—introduction, growth, maturity, and decline. The idea of a product life cycle helps management and marketing professionals to make the decisions regarding advertising, prices, expanding to new markets, or redesign packaging.[ CITATION CAR20 \l 1033 ]

Maturity

Decline

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MARKETING PLAN: MOLSON CANADIAN

Growth

In 2019, Molson sales have increased to 2034 million dollars as per statista 2020 report.

In 2018, Molson Canadian committed to Canadian taste by adding the ingredient s like Prairie barley and Canadian water to reflect the Canadian pride.

To conserve environment Molson started The Red Leaf Project in 2012.

Molson Canadian beer first came in the market in 1959 with TV Campaign that asked“What do want from a lager?”

In 1927, Molson Canadian started the bottle return program to reduce the waste.

In 1927, Molson Canadian started the bottle return program to reduce the waste.

Introduction

The Molson Canadian beer introduced by Molson Coors Brewing Company in 1903 as refreshing ale.

Figure no. 1-Product Life Cycle I think Molson Canadian is at the Growth stage because Molson Canadian is enjoying a good number of sales, high net income, gross profit, investing in big projects and expanding their business in Montreal. Sales: As sales have increased to 2034.2 million Canadian dollars in 2019. [ CITATION sta20 \l 1033 ]. Molson Coors contributed a huge number of dollars to put in new hardware at the 7|Page

MARKETING PLAN: MOLSON CANADIAN Fort Worth Brewery to additionally modernize the office and the new changes got operational just before the Thanksgiving occasion. [ CITATION mac16 \l 1033 ] Gross Profit: The net benefit can be characterized as the benefit an organization makes in the wake of deducting the variable expenses straightforwardly connected with making and selling its items or offering its types of assistance. Molson Coors Beverage net benefit for the quarter finishing September 30, 2020, was $1.203B, a 4% expansion year-over-year. Molson Coors revenue for the twelve months ending September 30, 2020, was $0.585B, a 279.55% increase year-over-year.[ CITATION mac16 \l 1033 ] The Molson Coors Brewing Company has spent many centuries making their product great and effective in taste. As one of the biggest worldwide brewers, Molson Coors attempts to convey exceptional brands that charm the world's larger consumers. Joint Venture: The organization framed a joint venture with Yuengling, declared it will carry Topo Chico Hard Seltzer to the U.S. in 2021, dispatched a record of new non-alcoholic items as it extends its portfolio past lager and framed an association with La Colombe to convey their prepared to-drink items. Molson Coors contributed a huge number of dollars to put in new hardware at the Fort Worth Brewery to additionally modernize the office and the new changes got operational just before the Thanksgiving occasion. The expanded abilities are the most recent in a progression of moves Molson Coors has made in executing their renewal intend to expand on the strength of its notable center, forcefully develop its above premium portfolio, extend past lager, put resources into its capacities, and backing the organization's kin and networks. Expanding the business in Montreal: Molson Coors is planning to open other bottling works in Montreal in late 2021. It likewise as of late reported significant interest in the organization's Rocky Mountain Metal Container can plant in Golden, Colorado, a joint endeavor with Ball Corp., that will empower the joint dare to create an extra 750 million thin jars for every year.

Molson’s should consider the following strategies: 8|Page

MARKETING PLAN: MOLSON CANADIAN Molson is considering advertisement as a marketing strategy for many years and the following strategies should be followed by the company to increase its sales and profit: Network Marketing Strategy: The company should consider a network marketing strategy. Network marketing is a controversial marketing strategy for the sale of products and services where the company’s revenue is distributed among their loyal members of the company. So, if Molson Canadian will start this marketing campaign it can build loyal and permanent customers who will be known as members of a company and those who register under them, they will also get benefits. Games strategy: The company can launch the fun games program at their stores to attract more game lovers. Every participant should have to pay a specific fee to play the games and the winners will get the chance to get the Molson Canadian beer at half price or a discount. These can encourage more and more people to have fun while purchasing. Open innovation strategy: This is a very new and attractive strategy to build good relations with the stakeholders. Molson Canadian can build good public relations by inviting different recipes or views on making the beer. It can create a feeling of belongings among the consumers and it can influence more and more people to be a part of the company.

PRICING STRATEGIES Integrated Marketing Communication

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MARKETING PLAN: MOLSON CANADIAN

Public Relations Research and Strategic Planning

Advertising

Sales Promotion

Social Media

MOLSON CANADIAN Integrated Marketing Comunication

Web Development & Ecommunicatio n

Trade Shows

Direct Marketing

It guarantees that all types of correspondences and messages are deliberately connected. At its most essential level, Integrated Marketing Communications, or IMC, as we'll call it, implies coordinating all the limited time devices, with the goal that they cooperate in amicability. Advancement is one of the Ps in the promoting blend. Advancements have their blend of specialized apparatuses. These specialized apparatuses work better if they cooperate in amicability as opposed to in separation. Their total is more noteworthy than their parts – furnishing they talk reliably with one voice constantly, without fail. [ CITATION Dat \l 1033 ] Integrated Marketing Communications (IMC) mixes different marketing mix tools to boost up the sales of products and services. IMC is eventually accomplished through brief and predictable informing that encourages familiarity and buyer fondness. Compelling IMC messages and pictures are important and valuable to purchasers, and informing and marking consistency – a demonstrated IMC idea – yield consumer loyalty[ CITATION Dat \l 1033 ].

The following table discusses the details of the promotional mix should use by Molson Canadian and the rationale:

IMC Tools Sales

Rationale Sales Promotion is a type of promotional tool to attract potential consumers to

Promotion

purchase products and services. Sales promotion includes various communication activities that provide benefits or incentives to consumers, 10 | P a g e

MARKETING PLAN: MOLSON CANADIAN wholesalers, retailers, or any other individual contacted with the sale of the products and services. Some commonly use sales promotion tools are discounts, gifts, coupons, samples, rebates and contests. Molson should use sales promotion, as the company is more focused on advertisement but, sales promotion would be a profitable marketing technique for the company. Molson Canadian can provide discounts or free beer to their regular customers, this will encourage more consumers to be a loyal and regular customer of the company.

Beer is an important part of celebrations at parties. So, if Molson will participate in their celebration by providing specific benefits it can create a sense of belongings among their consumers. For example, if Molson will start one program known as “Molson Birthday Gift”, in which every person on their birthday only can get a beer free for themselves if their party will be organized and celebrated in their Beer Bar, then it will inspire everyone to do a party with Molson Canadian Beer Hence, company sales and profit will increase with Public

satisfying the customers. Organizations cannot get survive in a competitive market without public

Relations

relations they need to have a consistent collaboration with clients, workers and various partners. Customer is the king of the market and every organization does their best to satisfy the needs and wants of their consumers by building good public relations. Similarly, Molson Canadians should have to build relations with their stakeholders through different means like organizing events, contests, 11 | P a g e

MARKETING PLAN: MOLSON CANADIAN conducting surveys or interviews, it also helps them to know more about their customers buying behaviour.

Public Relation office: Molson Canadian should open a separate public relations office where consumers, suppliers, manufacturers, or wholesalers can meet directly with the company by booking an appointment just a day before. These innovative steps can increase the communication and connection between the company and their stakeholders and when everyone will have connections then they will co-operate more with each other which will eventually, help Molson Canadian beer to beat the competitive market. The significant capacity of the public connection office is to deal with official statements, uphold item exposure, make and keep up the corporate picture, handle matters with legislators, direct administration as for public issues.

Free Fun Zone:

Molson Canadian can start the free game zone for their employees where an individual will have access to multiple fun activities in the office only when an 12 | P a g e

MARKETING PLAN: MOLSON CANADIAN employee has completed their daily or monthly target. This will motivate employees to complete their work on time and can enjoy free games at their office. This will also help to create a calm and relaxing environment for employees at the office.

Trade Shows

A Trade fair is a promotional activity where the company displays its latest products and services to its consumers in the exhibition. Molson should exhibit their new products in trade fairs; it can save the cost of advertisement and can aware the public about the new product.

Moreover, advertisement is a one-way communication where information is shared by the media but, Trade fair is a two-way communication where information is shared and also asked for suggestions or questions. It can help the consumers to contribute more and be more comfortable with a new product. The information or message can deliver directly to a large number of people at the same time. The company can also build their reputation when they will have the participation of their potential consumers, employees, suppliers and distributors and many more. Hence, it is a very effective promotional tool to improve communication between Molson and its stakeholders.

Advertising Strategy for Molson Canadians Advertisement is one of the best strategies to introduce any new product in the market. Molson Canadian has crossed the introduction stage and has reached the growth phase of its product life cycle, which makes it even more necessary for the company to focus more on its product’s 13 | P a g e

MARKETING PLAN: MOLSON CANADIAN advertisement to spread more awareness about the benefits and quality of the product. This will help Molson Canadians to grab more share in the market and attract more customers.