GROUP TASK COVER SHEET
SUBJECT CODE
STUDENT FAMILY NAME Student Given Name JCU Student Number
Fu Sijia 1 3 6 6 9 7 7 5
Jing Pei 1 2 8 7 5 2 4 6
Yang Yifei 1 3 7 0 7 3 7 4
Dey Madhusmita 1 3 7 9 8 9 5 3
Reddyvari M Janmisha Sai Keerthi 1 3 8 4 4 1 0 3
ASSESSMENT TITLE Analysis of Sula Wine enters Singapore Market
DUE DATE 26 September 2019
LECTURER NAME Dr Malobi Mukherjee
TUTOR NAME Dr Malobi Mukherjee
Student Declaration
1. This assignment is our original work and no part has been copied/ reproduced from any other person’s work or from any other source, except where
acknowledgement has been made (see Learning, Teaching and Assessment Policy 5.1).
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Student signature(s)
1
i.………………………………………… Submission date ……../……../ 2015 iv……………………… Submission date ……../……../ 2015
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iii………………………………………… Submission date ……../……../ 2015 vi……………………… Submission date ……../……../ 2015
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Table of content:
Executive summary 4
Mission statement 4
Situation analysis
PESTEL Analysis 6
SWOT Analysis 10
Competitor analysis 11
Consumer behaviour analysis 12
Market size estimation 13
Market segmentation 13
Segmentation 13
Targeting 15
Positioning 16
Marketing strategies
Product 16
Price 18
Distribution 19
Promotion 21
Kapferer prism 22
Revenue forecast 22
Budgeting
Reference 26
3
Executive Summary:
This marketing plan is prepared to assist Sula when it enters the Singapore marketplace. This
suggestion carries a comprehensive evaluation of all relevant components to form a feasible and
powerful marketing plan. A mission statement of Sula has been drawn and accompanied by the
aid of more than one evaluation that gives better information about the marketplace fashion. This
report does PESTLE analysis. Factors like Economic, Political, Legal and Cultural impact doing
business in Singapore. Though such factors are not within our control, we need to monitor them
closely in order to come up with a business strategy to penetrate into the market. Besides,
product and provider evaluation, competitor analysis, client conduct analysis, marketplace size
estimation, and SWOT evaluation provide a selected detail that assists to set the market
segmentation for the ideal goal group and constitute the advertising strategy. The marketing goal
has been set to simplify what does Sula goals to meet inside the Singapore marketplace and
accompanied by means of the marketing techniques that show to perform successfully. Based on
the outside and inner analysis and the market segmentation, a suitable advertising and marketing
plan is designed in phrases of product, rate, distribution, and promotion. A sale revenue has been
forecasted to look the capability sale and a budgeting procedure has been estimated to higher
prepare the future fee. Sale forecast and budget expected are organized within the next five-year
periods.
Mission Statement
Sula Vineyards is the market chief and most loved in Indian among other wines. Their honour
winning wines are accessible across the country at the best inns and cafés and are additionally
traded to 30 nations. Now, Sula is planning to expand its market to Singapore which is the wine
hub in Asia. The brand is planning to maintain sustainability as usual and to launch premium
wines namely red wines and sparkling wines with fine quality. For a good wine Singapore is
willing to go to the distance. Hence, it will be ideal to focus on elite Singaporeans who are more
brand conscious.
At Sula, the enterprise and society do not handiest live to tell the tale but additionally thrive
together. Sula believes in effects with a motive and is guided with the aid of standards that
4
recognize both community and planet. It aims to provide global-famed wines and be recognized
for the very best standards in first-rate and manufacturing even as integrating sustainability into
the commercial enterprise approach and leaving a net effective footprint by sensible use of herbal
assets and paving the manner for green practices in the wine industry.
Source: (“Sula vineyards pvt. Ltd. - Taste the sula life,” 2018)
5
Source: (“Sula vineyards pvt. Ltd. - Taste the sula life,” 2018)
PESTEL Analysis :
Political:
Singapore’s political stability, industrial competitiveness and transparency have helped to
pave the way for its neighbouring countries’ economic prosperity:
a)Consistent corporate tax policy for domestic and
abroad company.
Benefits for
b)EDB will visit foreign company to adjust Sula from
the development plan yearly.
policy in
Singapore
c)Consumer protection law to ensure the
quality of the product.
6
Economic
Singapore’s finance and service sectors are considered to be world class and its physical
infrastructure is known to be highly efficient. This country has achieved a per capita gross
domestic product level that is comparable to that of developed western nations which is why it
has managed to consistently rank among the most attractive countries in which to conduct
international business.
Singapore’s exchange rate is quite stable in past few years which provided a friendly and
stable financial market environment for import and export of commodities (singapore-
dollar,2019). And the abroad brand like this Sula wine can be imported and sold in an acceptable
price.
Singapore Dollars Exchange Rate with US Dollars
Social
In terms of social interaction, Singapore is very similar to other Eastern countries. It
follows traditional family values. Young Singaporeans tend to follow Western culture and
values. And Singapore is a multicultural country with many people from different cultures. The
7
hard work of the inhabitants has increased the productivity of the country. Therefore, the
business sector can expect higher customer purchasing power.
Technological
THE TECHNOLOGICAL DEVELOPMENT IN SINGAPORE
8
Environmental
9
Limitations for Singapore to
grow grapes:
Average There is no enough Excessive
temperature is land available for precipitation in
high. grape growing. Singapore.
Grape growth requires complex geographic requirements. In terms of climate, the grapes are
suitable for growing in the temperate zone between 38 and 53 degrees north and south. (Chou,
1988). Singapore has a high average temperature, does not have enough land, is not suitable for
the development of local wine brands, and is not easy to preserve wine.
Legal
Singapore has strict alcohol restrictions. The law stipulates that drinking is prohibited in
public places throughout Singapore from 22:30 to 07:00 every day (Zengkun, 2013). During the
ban, no direct sale or take-out of retail alcohol is allowed. The first offender will be fined up to
S$1,000. The public can only choose to drink alcohol at home during these hours or at a place
with a liquor license (Singapore Legal Advice, 2019). For the wine industry, this law limits the
sale of red wine, reduces the consumer's desire to buy, and affects the development of the wine
industry in Singapore (Wells, 2016).
SWOT Analysis :
10
Analysis
Strengths: Studies have shown that drinking red wine in moderation lowers your risk of
cardiovascular disease and cancer. Flavonoids, which might be found in red grapes, have
antioxidant residences and assist lessen the danger of cancer, cardiovascular sickness, and age-
related degenerative disorder (“HealthXchange,” 2016). Sula also considers environmental
benefits and it aims to produce world-renowned wines with high standards in quality and
production while integrating sustainability into the business (“Sula vineyards Pvt. Ltd. - Taste
the Sula life,” 2018).
Opportunities: In the lately launched ProWein Business Report 2018, Singapore emerged as a
pinnacle rising marketplace for wine exporters. More exactly, over a third of respondents (37%)
11
see Singapore because of the export destination with the most ability in the next five years
(“Prowein business report—New 2018 issue,” 13 November 2018.). That opens a huge
opportunity for the wine dealers in Singapore. A new alcohol tax policy reduces the taxation of
low-alcohol content of liquor, which can inspire human beings to drink low- alcohol liquor
(“ Singapore newspaper,” 10 September 2019), with a view to being profitable for Sula as an
emblem as because it includes the low percentage of alcohol.
Weakness: As there is lack of workforce diversity in Sula it may have effect in the international
market. Implementation of technology and innovation are the primary things in 21 st century for
the survival of any business, Since Sula is lacking in both the skills. Nowadays Environmental
and ecological are the two major things that Singapore looks in businesses whereas Sula’s
reputation isn’t favourable to those conditions. As wine has an elect taste not everyone prefers to
have wine.
Threats: Coming to threats as Singapore market is small and have increased wine rivalry if we
don’t monitor properly survival of Sula may become a problem.
Competitor Analysis
Bordeaux wine is well-known in the world, and the taste of Bordeaux wine is well received by
consumers. In terms of popularity, Bordeaux wines are more famous than Sula wines. But Sula
and Bordeaux are not very different in price and brand. They are in the middle and upper grades
of red wine. Sula Wine is also very popular in India. The vineyards owned and contracted by
Sula cover more than 3,000 acres. It is the location of India's best grapes and the latest
innovation and technology in grape cultivation.
Sula versus Bordeaux
Company Country Number of regions
Sula India 50
Bordeaux French 57
12
Consumer behaviour analysis
The potential of the Singapore economy in the eyes of those who wish to export to Singapore
could be one of the greatest variables driving development. Singapore appeared as a top
emerging market for wine exporters in the lately published ProWein Business Report 2018. In
2016, the Singaporean wine industry was valued at over $1bn USD, growing at a CAGR of 5.5%
in 2011-2016. It is anticipated that this development will proceed at comparable levels: with a
5.4% CAGR forecast for 2016-2021, reaching $1.4 billion by 2021.
Alcohol intake was categorized by alcohol intake frequency and World Health Organization
(WHO) has published alcohol consumption report for Singapore using a questionnaire which is
based on behavioral Risk Factor Surveillance System.
Image Source: Global Alcohol Report
Summary of the percentage of each group of people’s drinking habit:
Alcohol Males Females Total
Consumption
Non-drinker 39.4 59.1 49.2
Occasional drinker 46.9 34.3 40.6
Frequent drinker 9.4 4.6 7.0
Regular drinker 4.3 2.0 3.2
13
Market size
As a thriving international metropolis, Singapore has a large market size. The latest 2019
ProWein business report shows that 37% of respondents believe that Singapore will be the most
potential wine export destination in the next five years. In 2008, the value of the Singapore wine
market was only $187 million, and the market value in 2012 reached $550 million. However, in
2016, this figure has exceeded $1 billion, a significant increase. Moreover, this report predicts
that the value of the Singapore wine market will grow at a rate of 5.1%, reaching $1.4 billion in
2021 (Global Data, 2018). By then, Singapore's per capita wine consumption will exceed 2.5
bottles in 2018.
Market Segmentation
Market Segmentation is a procedure of separating the market of potential clients into various
gatherings and fragments based on specific attributes. Market Segmentation is primarily divided
into 4 categories as mentioned below:
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Image Source: Market Segmentation
Geographic: In the 2014 wine expo for Asia-Pacific wine and spirits display, the association
anticipated a 40% expansion in Singapore's wine utilization in the coming years. The market's
development is basically the appearance of the nation's "East meets West" culture. Furthermore,
with the convergence of enormous organizations and key wine coordination players setting up
central command in the nation, it's anything but difficult to perceive any reason why Singapore is
ready to turn into the next wine hub in Asia.
Demographics: In light of the insights report discharged by the Singapore Ministry of
Manpower (MOM) last June 2015, the 2014 middle pay of employed and independently
employed inhabitants in the city-state adds up to $3,770. As far as use, Singaporeans burn
through the greater part of their salary on utilities (20.4%), trailed by entertainment and culture
(13.3%) and transport (13.1%). This is based on information from the Economic Statistics
Branch of the United Nations Statistics Division.
Psychographic: Singapore is included knowledgeable and well-voyage purchasers starting from
various pieces of the world. Singapore inhabitants drank a normal of 1.2 liters (2.5 pints) of wine
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in 2003, making them the third-biggest wine customers per capita in the district behind Japan and
Hong Kong, as per wine reasonable coordinator Vinexpo.
Behavioral: Singaporeans love red wine. From 2008 to 2012, red wine utilization in the nation
expanded by over 60%. Nowadays, 64.3% of the wines devoured in Singapore are of the red
assortment. Like most different countries, red wine darlings in the nation go for the tipple due to
its hearty flavor.
Target Market
Singaporeans really appreciate their wine and a lot of investment has been made in the nation
because of this. Wine is something that has become component of the city's culture in a vibrant
and youthful town like Singapore and has infiltrated advanced meetings and youthful parties
alike. Hence, Singapore is one of the premiere wine destinations in Asia. It will be more ideal to
focus on the below mentioned 3 groups of customers who can afford and enjoy premium wines
and targeting these customers will definitely bring fruitful results for the SULA business.
Image Source: Luxury Consumers in Singapore
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Positioning
In terms of distribution strategy, SULA should be sold both online and in large supermarkets.
According to the survey, 60% of Singapore's consumers buy products online at least once a
month, and most of Singapore's online shoppers are between the ages of 25 and 34
(Hardasmalani, 2016). At the same time, most Singaporeans also believe that although online
shopping is really convenient, they prefer to shop in physical stores and shopping in Singapore is
very convenient. The main reason why many consumers continue to choose to shop in physical
stores is that some experience of shopping in stores can not be replaced by e-commerce.
Marketing Strategies
Product
Singaporean is prefer red wine more than others. Between 2008 and 2012, this market grew
by 10.5%. Therefore, SULA can introduce more red wine products to meet the needs of
consumers. Cultural factors also play an important role in the wine market. As a country with
multiple ethnic groups, religions and cultures, Singapore has a high tolerance for wine and even
become a symbol of identity. SULA also need use the characteristics of cultural diversity to
introduce wine products that meet the tastes of different cultural groups.
Price
In Singapore, the government imposes an excise duty of $88 per litre of alcohol for all types of
wine which are consumed and distributed in Singapore (Singapore Winevault, 2018). In addition,
Singapore levies a 7% Goods and Services Tax, and it is scheduled to be raised to 9% before
2025 (Export.gov, 2019). In this situation, Sula Vineyards Shiraz 0.75L 14% alcohol content
which is sold by $13.18 per bottle in “Wine-searcher”, Will need to pay Singapore
government$9.24 alcohol tax and $0.65Goods and Services Tax, the price will reach $23.07 per
bottle.
17
Image Source: https://news.co.cr/san-jose-costa-rica-rank-cost-living-survey/59235/
Retrieved from: https://www.singaporewinevault.com/duty-gst-calculator/
18
Placement
This refers to the physical or virtual location where customers can access a
company’s products. Sula wines avail its wines and other beverages in supermarkets, online sites,
and high-end restaurants. This is typical of wines, they are considered to be exotic drinks, and
thus the place element has to be thoroughly discussed with regards to the target market.
• Wine shops.
• Super Markets.
• High-end Restaurants.
• Online sites.
SULA’s advertising strategy for Singapore
Website
One of the most popular advertising is by website, such as google search, E-mail, social
media websites etc. For example google ad.:
Cost of Google Ad
The average cost of an
The average cost per action
advertisement on Google
(CPA) in a Google
Ads (AdWords) is $2.32 per
advertising search
click on the search
campaign is $59.18.
network.
The average small business
The most expensive using Google advertising
keywords in Google spends between $9,000
advertising and Bing Ads and $10,000 per month on
cost $50 or more per click. their online advertising
campaigns.
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Instead of showing ads to huge audiences that may or may not be in market for products,
Sula can target their ads at people who are searching specifically for the kinds of products or
services they offer.
The Sula’s advertisement can be released on the google search page and public can receive
ad. of wine like Sula when they subscribed promotion E-mail periodical. This way connects the
products with consumers together and delivers the information directly to consumer.
Smartphone’s app
In the present days, people spend more time on the smart phones in daily life. The apps as
Instagram, Facebook, Wechat etc. are used by almost all phone users.
For example Facebook:
Essentially, Facebook Ads’ pricing model works similarly to advertising on Google.
Advertisers can set a daily budget for their campaign (regardless of what their campaign
objectives are), and when that daily budget is depleted, ads are paused until the next day. This is
good for Sula to control the budget of the cost for Ad.
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Let’s see a summary of the cost per click in Facebook:
Ad. Cost per Click in Facebook
$4.00
$3.50
$3.00
$2.50
$2.00
Cost per Click
$1.50
$1.00
$0.50
$0.00
to ty es n t ce il l el
Au au vic tio en an ta nica av
Be r ca ym
Fin Re ch Tr
Se u
pl
o Te
er Ed m
m E
usto
C
From the bar chart we can see the retail products’ Ad. on Facebook is $0.7 average which is
lower than most of the other business. It’s beneficial for Sula to do advertise on it because of its
lower price.
Mobile Message
This is another way to obtain the attention of a captive audience.It is possible to message
millions of subscribers within hours or days with your promotional message on their mobile
devices in Singapore. If Sula selects this way to promote the product is also a good choice for
them.
21
Benefits for Sula to do advertising by mobile message:
Reach Engagement Simplicity Cost
Singaporean send 98% of text Texting enables Short Message
and receive over messages are businesses to Service (SMS)
15 billion text opened, 90% are quickly and easily campaigns
messages each day read within 3 connect with their cost just
. minutes, and 40% members, pennies per text
get a response customers, clients, per recipient.
within 15 minutes. and patients using
technology that
they are already
familiar and
comfortable with.
Wine Festival
In addition to online activities, offline activities such as wine tasting parties can also be held
to attract wine enthusiasts. To be honest, the wine depends on the personal taste. It is more
suitable for consumers to have a try about the Sula then just show a brand to them and let them to
remember. There are lots of wine festivals in Singapore seasonal and Sula can take advantage of
this chance to provide the products to the wine enthusiasts. On the festival, consumers can
experience and taste red wine for themselves directly.
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Kapferer Prism for Sula wine:
Revenue Forecast:
Population of Singapore 2018: 5,638,700
1) Based on Singapore’s per capita wine consumption in 2018: 2.5 bottles.
2) Based on 64% wine consumptions are red wine in 2018.
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Potential Market Size is
5638700*2.5*64%=9021920 bottles/year
% Year Target customers from potential Price Sales
customers
2% 2019 2%*9021920=180438 $23.07 $4162704.66
5% 2020 5%*9021920=451096 $23.07 $10406784.72
7% 2021 7%*9021920=631534 $23.07 $14569489.38
9% 2022 9%*9021920=811973 $23.07 $18732217.11
10% 2023 10%*9021920=902192 $23.07 $20813569.44
Sula aims to get a growth percentage from 2% of the potential customer in 2019 to 5%, 7% 9%
and 10% each in year 2020, 2021, 2022 and 2023 respectively to fulfil the marketing target
which Sula can obtain $4162704.66, $10406784.72, $14569489.38, $18732217.11 and
$20813569.44 in each year.
Sales Revenue
$25,000,000.00
$20,000,000.00
$15,000,000.00
Sales Revenue
$10,000,000.00
$5,000,000.00
$0.00
2019 2020 2021 2022 2023
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Budgeting:
1) By Google: The average cost of an advertisement on Google Ads (AdWords) is $2.32 per
click on the search network.
2) By YouTube, YouTube ads have an average cost-per-view of $0.10 – $0.30, and the
views that you generate will count towards your overall YouTube viewer count.
3) By Facebook, retail products’ Ad. on Facebook is $0.7 average per click.
4) By Message: Short Message Service (SMS) campaigns cost just pennies per text per
recipient.
5) By wine festival: Yearly wine festival estimated the cost is $100,00.
Estimated budgeting next five years of Sula
Strategies 2019 2020 2021 2022 2023
Google $160,000 $360,000 $500,000 $500,000 $600,000
YouTube $80,000 $180,000 $250,000 $250,000 $300,000
Facebook $120,000 $240,000 $300,000 $300,000 $400,000
Message $100,000 $130,000 $150,000 $150,000 $180,000
Wine Festival $100,000 $100,000 $100,000 $100,000 $100,000
Others $200,000 $250,000 $250,000 $300,000 $350,000
Total $760,000 $1260,000 $1550,000 $1600,000 $1930,000
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2019: $760,000
2020: $1260,000
2021: $1550,000
2022: $1600,000
2023: $1930,000
26
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