Each student shall develop and submit a small business marke

Each student shall develop and submit a small business marketing plan on an on-going or imaginary business. You are to use the Barringer text as a resource and reference for the plan.

Solution

Summery:

Packaging plays a vital role in two key ways; first, protection - protecting packaged goods from any kind of counterfeiting, damages, tampering, and breakage & leakage during the transportations. Second, marketing & promotion – a crucial entity to convey messages and differentiate the packaged from competitors.

From last several decades, there has been an exorbitant growth potential in the world packaging market and it is projected to grow at the market value at ~ approx. USD 1.1 trillion by 2021 at a healthy CAGR of 6-7%.

The growth in the packaging industry has been witnessed due to various reasons such as:

Description

As a leader in global packaging solutions and strong expertise in supplying a broad range of rigid and flexible packaging products for the food & beverage, healthcare & pharmaceutical, home & consumer appliances, personal care, and tobacco industries. Established in 1991, the company has strong expertise in the manufacturing packaging mediums for a variety of end-use industries.

The most vital thing about the company is that the company has invested huge capital in R&D activities for promoting sustainable and environmental-friendly packaging mediums.   As a part of the same, the company invested   USD 36 million in 2016. The company has overall 12 manufacturing and sales offices in North American, European, and growing Asian market.

The company has two key business segments; rigid and flexible. The flexible held almost 64% of the total revenue and rest generated from the rigid packaging mediums.   In terms of end-use industry food & beverages industry generated highest amount of revenue in 2016.

Business strategy

The company investing heavily in marketing and sales activities. As a result of the same, the company acquired a packaging company in India and Indonesia. The acquisition in the developing countries have enhanced the company’s position in the Asian market. Along with the same, the company also opened a sale & marketing office in the Chinese market to meet the every-growing needs of end-consumers.

As a part of the digital marketing strategy, the company is soon going to launch an online campaign with a hashtag #PackageforLife. As the company has strong business presence and distribution network in the developed North American and European market, the company rigorously emphasizing on capturing market share in the Asian market, primarily aiming for Indian and Chinese market.

The company’s revenue highly generated from the flexible segment, the company focusing on the sustainable plastic mediums as the raw material for their product. The plastics/polymers such as poly-vinyl chlorine and polyurethane have been selected as they are eco-friendly, cost-effective, and enhances shelf-life.

Capital

As a part of the inorganic strategy, the company has invested USD 604 million mergers and acquisitions in the targeted regions. As a part of organic strategy, the company invested USD 56 million in new product development to meet the growing needs.