Assignment Coversheet Student'S Name: Dinesh Anthony Angammana

ASSIGNMENT COVERSHEET
STUDENT’S NAME : Dinesh Anthony Angammana
STUDENT NO. : MSC - 13 - 01 - 303
PROGRAMME : Executive MSc in Strategic Marketing
ACADEMIC FACILITATOR: Mr. Lewie Dias
LEARNING CENTRE : CAMBRIDGE COLLEGE OF

BUSINESS AND MANAGEMENT
DECLARATION BY STUDENT
I certify that this assignment is my own work and is in my own words. All sources have
been acknowledged and the content has not been previously submitted for assessment to
Asia e University or elsewhere. I also confirm that I have kept a copy of this assignment.
Signed: _____________________________
Executive Summary
This report is the Work Based Strategic Business Project done as the individual report. The
purpose of this report is to design, implement and evaluate the strategic business project of
Highland milk powder.
This report consists of three parts. The first part is defining the Project which covers the
project proposal, Literature Review and Self-evaluation. The second part is A Project Report
on Project Implementation and Assessment which covers Project Plan, the Business Project
and Project Evaluation. The part three is Self-Review and Continuing Developments which
covers Self-evaluation and Future Plans.
1
Table of Content
List of Table...............................................................................................................................4
List of Figure..............................................................................................................................5
01. PART ONE..........................................................................................................................7
02. PART TWO.......................................................................................................................19
02.a. Project Plan..................................................................................................................20
02.a.1 Project Objectives..............................................................................................20
02.a.2 Deliverables of the project................................................................................20
02.a.3 Stakeholder dentification...................................................................................21
02.a.4 The schedule of the project...............................................................................21
02.a.5 Tasks of the project...........................................................................................25
02.a.6 Dependencies of the project..............................................................................26
02.a.7 Resources...........................................................................................................27
02.a.8 Research Design................................................................................................27
02.a.8.1 Research Philosophy..........................................................................27
02.a.8.2 Research Approach.............................................................................27
02.a.8.3 Conceptual Framework......................................................................27
02.a.8.4 Research Population...........................................................................28
02.a.8.5 Sample Size........................................................................................28
02.a.8.6 Types of data......................................................................................28
02.a.8.7 Types of data collection.....................................................................28
02.a.9 Use of Resources...............................................................................................28
02.a.9.1 Key Performance Indicators...............................................................28
02.a.9.2 Critical Success Factors......................................................................29
02.a.10 Project Evaluation methods.............................................................................30
02.b Business Project...........................................................................................................32
2
02.b.1 Implementation of the project...........................................................................32
02.b.2 Getting suggestions from employee..................................................................32
02.b.3 Innovation Audit...............................................................................................33
02.b.4 Proposed questionnaire.....................................................................................33
02.b.5 Implementation of Strategies............................................................................34
02.b.5.1 BCG matrix........................................................................................34
02.b.5.2 Ansoff matrix.....................................................................................36
02.b.5.3 Porter’s Generic Strategy...................................................................37
02.b.6 Roles and responsibilities of Project team........................................................39
02.b.7 Quality Management Plan.................................................................................41
02.b.8 Techniques of Project management..................................................................41
02.b.9 Communication Management Plan...................................................................43
02.b.10 Risk management committee and Risk management register.........................43
02.c Project Evaluation.....................................................................................................44
02.c.1 Cashflow for the first year (Million).................................................................44
02.c.2 Budgeted Income statements (Million).............................................................44
02.c.3 Project Appraisal...............................................................................................45
02.c.3.1 Net Present Value...............................................................................45
02.c.3.2 Payback Period...................................................................................45
02.c.3.3 Return on Investment Analysis..........................................................46
02.c.4 Research Findings.............................................................................................46
02.c.5 Conclusion.........................................................................................................53
02.c.6 Recommendation...............................................................................................53
03. PART THREE....................................................................................................................55

03.1 Self-evaluation..............................................................................................................56
03.2 Future Plans..................................................................................................................59
References................................................................................................................................63
3
List of Table
Number of the table Topic Page No.
Table 1 Budget of the project 16

Table 2 Gantt chart 17
Table 3 Project Schedule 21
Table 4 Calculation of the EST, EFT, LST, LFT and Slack 24
values
Table 5 Dependencies of the project 26
Table 6 Development of Project team 40
Table 7 Roles and responsibilities of Project team 40
Table 8 Project progress tracker 42
Table 9 Cashflow budget 44
Table 10 Budgeted Income Statement 44
Table 11 Net Present value method 45
Table 12 Payback period method 45
4
List of Figure
Figure No Topic Page No.
Figure 1 Milk Production in Sri Lanka 10
Figure 2 Quantity of imported Milk 11
Figure 3 Market share in the Milk powder category 12
Figure 4 Market share in the Fresh milk category 12
Figure 5 Stakeholders 21
Figure 6 Network diagram 23
Figure 7 Tasks of the project 25
Figure 8 Conceptual Framework of the Research 27
Figure 9 Elements of Innovation Audit 33
Figure 10 BCG matric 36
Figure 11 Ansoff matrix 36
Figure 12 Positioning Matrix 37
Figure 13 Porter’s Generic Strategy 38
Figure 14 Highland Old and proposed pack 38
Figure 15 The relevant fields based on Project Management 42
techniques
Figure 16 Factors affecting the selection of a fresh milk brand 46
Figure 17 Highland Fresh milk Pack is easy to use 47
Figure 18 Expiry dates are longer 47
Figure 19 Taste is good 48
Figure 20 It is thick and creamy textured milk 48
Figure 21 Price of Highland Fresh milk is better than competitors 49
Figure 22 Price of Highland Fresh milk is fixed 49
Figure 23 Promotional prices are available 50
Figure 24 Highland Fresh milk is always available to buy 50
Figure 25 Visibility of the Highland Fresh milk at the shop is good 51
Figure 26 Advertisements are always available 51
5
Figure 27 Advertisements are attractive and creative 52
Figure 28 Advertisements encourage to purchase fresh milk 52
Figure 29 Product development 54
6
01. PART ONE
DEFINING THE PROJECT
WORD COUNT: 3,097
7
The Work Based Strategic Business Research Project
(Executive MSc in Strategic Marketing | Executive MSc in Finance | Executive MSc in
Entrepreneurship and Innovation | Executive MSc in Strategic Management)
Fill the following information based on your Strategic Business Research Project
1. Student name:
Dinesh Anthony Angammana
2. Student Number:
MSC - 13 - 01 - 303
3. An overview of the organization selected:
The National Milk Board is the first name of the organization functioned under the
Ministry of Agriculture, established in 1956. It was eventually formed as a private
limited company in 1998 and now is recognized as Milco Private Limited as being one of
the Sri Lankan highly respected public corporations operating under the oversight of the
Ministry of Livestock Development. This is a well business in the dairy industry.
Highland is the key brand of the product. They are currently processing dairy products
such as milk powder, liquid fresh milk, cheese, yoghurt, ice cream, butter and ghee. Its
key commodity is Highland milk powder, which is currently the industry leader in the
Milk Powder segment in Sri Lanka (Milco, 2019).
4. Specify your relationship to the organization:
Marketing Manager
5. The relevance of the chosen context (the chosen scenario):

8
The theme of the research proposal is "Gaining Market Leadership of Milco (Pvt) Ltd in
the Fresh Milk Industry." This Research is intended to re-launch an established product
which is already available in the local market.
Fresh milk use in Sri Lanka has grown significantly in recent years. As for the overall
amount of the global milk industry, many countries drink fresh milk rather than milk
powder as their key beverage. Typically, a person's milk intake may be fulfilled in two
ways, such as milk powder and fresh milk, prior to the preparation. Buying of fresh milk
is highly noticeable in developed countries. But, developing countries, like Sri Lanka, do
use milk powder to fulfill their milk requirements and there is therefore a strong demand
for imported milk powder, which is primarily manufactured from New Zealand and
Australia.
Muthuvelayutham (2012) reported that 61 percent of the milk powder still comprises
imported milk powder and as such the rest 39% is produced by the two local firms,
Palawatte and Milco. Especially with the current condition in the dairy business,
Highland has been the leading company holding 31% of the market share. But, in the
fresh milk segment, Milco retains just 19% of the market share, while the market leader
in the fresh milk segment holds just 71%. In this way, the aim of this Study is to
recognize the drivers that could allow Milco (Pvt) Ltd to become a leading company in
the fresh milk sector.
6. Strategic Business Research Project scope and description:
Consumer Preference is a big area, and it has a better probability of improving every now
and then. As a consequence, knowing it is utterly inconceivable, in the manner in which
it is so directly connected to human character. As a consequence, companies can
recognize the dynamics of the current and potential Buying Behavior by evaluating how
consumers have behaved to satisfy their desires in historical purchase behavior. People
will choose their decisions because, and by far, most people recognize the pieces that
drive them to determine. Therefore, the purchase of fresh milk should not arrive in such a
way. It will take a lot of digging for details. There are reasons behind any purchasing
decision that can evolve from the emotional, personal, social and cultural components of
a specific country. Both of these elements have an effect on consumer buying behavior.
If there is an incredibly limited chance for organizations to influence or alter certain
elements and for the most part, the structures must be tailored to the concept of those
factors.
Critical improvements have arisen in the dairy industry of the current decade. The degree
of rivalry has emerged and these days businesses are continuously seeking new ways to
deal with competitors in different kinds of product specifications, pricing and 9
consistency. While Milco is the market leader in the segment of milk powder, but it has
not been able to achieve the same place in the segment of fresh milk. This study thus
focuses in order to define the factors influencing Fresh Milk Products of Milco (Pvt) Ltd
7. Details of the mentor:
Mr. Lewie Dias
8. Business case and rationale of the Strategic Business Research Project:
In Sri Lanka, most of the ranchers are engaged in dairy industry as an extra income
source and it is happened in a little scope. In 2019, the entire fresh milk volume produced
in Sri Lanka is 379 million liters, it is a growth of 12% contrasted with the last year. It
consists of 307 million liters taken from dairy cows and 72 million liters taken from
buffalos. Around 57% of this total fresh milk production are sold to fulfill the local
demand. The balance stock is used by the farmers for their own consumption and selling
to their neighbours. According to Muthuvelayutham (2012), 80% of the total milk
requirement in the country is fulfilled by imported milk powder and the remaining 20%
is supplied from fresh milk (Department of Census and Statistics, 2019).
Total Milk Production (Liters Million)

400
72
300 66 63
64
57
200
264 270 307
100 205 240
0
Year 2015 Year 2016 Year 2017 Year 2018 Year 2019
Total Milk Production (Liters Million) Milk from Cow

Total Milk Production (Liters Million) Milk from Buffalo
Source: Department of Census and Statistics of Sri Lanka (2019)
Figure 1: Domestic Milk Production in Sri Lanka
100,000
88,500
90,000 84,000
80,000 76,000 10
69,500
70,000 64,000
60,000
40,000 37,900 37,600
29,100
30,000
18,700
20,000
10,000
0
2015 2016 2017 2018 2019
Volume of Imported Milk (Metric ton) Value (Rs Million)
In this case, the market shares of the overseas milk powder brands have seen a reduction
in their sales. In addition, as per Muthuvelayutham (2012), multiple laboratory studies
carried out not only in Sri Lanka but also in some foreign country’s studies have found
milk powder manufactured in New Zealand and Australia includes some additives that 11
are detrimental to human health. As a result, demand for domestic milk powder, like
Highland and Palawatte, has risen significantly and there is currently a major shortage of
12
9. Strategic Business Research Project objectives (Qualitative and Quantitative) – The
Strategic Business Research Project must be completed within 3 months:
This Study reflects on six primary objectives.
Qualitative Objectives
 Gathering information to obtain the results of Marketing Mix components with

reference to Highland Fresh milk within two months.
 Evaluating data to determine the results of Marketing Mix components with
reference to the Highland Fresh milk within two months.
 Suggesting effective Marketing Mix tactics to raise market share within two
months.
Quantitative Objectives
 Boosting production to generate 500,000 liters of Highland Fresh Milk every day
in the 1st year.
 Raising the market share of the fresh milk business by 20% in the 1st year.
 Raising profitability to 1 billion rupees in the 1st year.
10. Literature review (Core and supplementary theory learnt during the course to be
used at the implementation stage of the Strategic Business Research Project):
10.1 Market Leadership

Cunningham (2003) claimed that companies are actively reacting to market shifts in
order to preserve their market share. Effective industry leaders have therefore set up
processes that recognise the right directions in which consumer trends are evolving to
succeed on the marketplace. As per Cunningham (2003), these organisations can be
classified into three types of market leadership, primarily:
-Leadership based on clients
-Leadership based on Digital platforms
-Leadership based on creativity and innovation
The most popular group is "leaders focused on the expectations of the customer."
Companies should be able to recognize the essence and desires of the customer's
behaviour. In that situation, consumer loyalty will be built to the brand which would
maintain its market share in the sector.
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10.2 Marketing Strategies
In today's corporate climate, associations who are seeking to achieve market supremacy
must select the strategies that engage them to distinguish themselves from their rivals in
the market. For example, in the study carried out by IBM, many associations want their
employees to distinguish themselves on the market, 45 per cent of respondents accepted
that the key strategy for entering another market is the differentiation strategy, it is
essential for product growth, enhanced sales channel procedures and consumer
confidence. While this poll showed that the workforce of the company needs to remain
unique on the sector, these approaches are extensively categorized into three activities for
example: expense control, the discovery of a new market and quality customer care
(Aaker, 1995).
As per Kotler and Keller (2007), the Marketing Concept is the path of action of company
problems and the mechanism utilized by a company to enable its clients and create a
change. As Hooley et. has proven. Al. (2008), Marketing can be conducted by a company
on the basis of its capabilities to fulfill the needs of its consumers and to accomplish its
marketing targets more efficiently than its rivals. According to Porter (1990), the
marketing approach comprises three components, namely expense control, distinction
and focus group. Considering the point of view of these two examiners, it may be
claimed that the advancement of the object and the selling approach are strongly related.
According to Kotler and Keller (2007), several studies suggest that the marketing
combination of Product, Price, Position and Promotion is the secret to achieving market
leadership.
10.3 Product Development
There are strategic marketing procedures employed in product design that may be used
by a business to achieve a position in market leadership. An organization may utilize
these campaign procedures by concentrating on the desires of the purchaser and the
movements of rivals that affect the market leading role (Wijesundera, 2010). For
example, in most sectors, fast reaction to rivalry behavior and behaviors is very
necessary in order to succeed on the market. In that scenario, the companies should have
adapted their product design and development method to certain conditions.
10.4 Effect of Innovation
Under today's market climate, most profitable businesses invest a big budget on research
and development activities because the product life span of certain goods is very low. It
is also important to still come up with inventions. PC labels like Asus, Acer and Mitac
are big players in the industry that are not just selling goods. Innovation is the secret to
success in this business. They've been motivated to be industry leaders. Organizations
should then effectively leverage their innovation efforts to fulfill consumer needs (Porter,
1990).
14
11. Strategic Business Research Project Composition – Team members and roles (skills
and competencies ):
The Mintzberg Team role model (1973) can be used to describe the role and duties of the
group. There are however, positions to be performed by project participants, including
organizational roles, informational roles and decision-making roles. The project team is
made up of 20 people.
Project owner should take a leading role in the effective execution of this project. As a
consequence, it has a clear obligation to delegate work among project participants, to
establish a project team, and to motivate project members to achieve the project goal.
In addition, all the decision-making positions, including the Entrepreneur, the Disruption
Handler, the Resources Handler, the Project Managers, are performed by the owner of
the project.
The Project Coordinator should perform a liaison role in order to organize the
participants of the project and external partners.
The Marketing Director will be the spokesman responsible for exchanging details with
third parties.
The heads of all divisions, including the Store Manager, the Research and Development
Manager and the Production Manager, will serve as Disseminators throughout the
project. Whose prime aim is to convey the confidential information effectively to the
subordinates.
12. Identification of Strategic Business Research Project risks (Internal/External) and

the plan to manage and mitigate risks:
There are some threats that specifically influence the success of a thesis like this since
some variables might have changed. This Research examines and analyzes the conditions
that actually influence market leadership. The researcher then discusses the following
project threats and recommends alternative methods and procedures to minimize them.
 Market Risk
Since Milk is a fast-moving consumer good, people don't spend too much on the food.
They still evaluate and switch towards other available alternatives if the price of the
commodity is high. The organization must then create a commodity and utilize effective
promotion tactics to achieve market share while keeping the present price as the highest
price. In order to do so the output should be carried out to the highest degree and the
economies of scale should be reached as far as possible.
 Reputation Risk losing credibility 15
Milk is a highly responsive substance. If a misleading advertisement is circulated to the

media, consumers may avoid purchasing the commodity. Therefore, retaining a
13. Resources/budget allocation (a detailed breakdown of schedules):
Human capital and financial resources are the key resources needed to effectively
complete the project. Human capital is supposed to be rendered accessible internally.
Financial capital can be obtained by both internal and foreign markets on the basis of the
scale of the investment.
Year 1 Rs. million
Product mix development 90
Development in Research & development facilities 50
Marketing and Promotional activities 1,200
Developing farmers 500
Training & Development 5
IT Infrastructures Development 5
Purchasing of machineries and vehicles 550
Increasing capacity in the production factories 600
Total Cost 3,000
Table 1: Budget allocation of the project

According to the table 1, the total forecasted project expenditure is 3,000 million rupees.
16
14. An outline of the Strategic Business Research Project plan (The timelines and a
detailed schedule of tasks performed during the project using the Gantt chart):
Tasks Time Targets
Month 1 Month 2 Month 3
1 2 3 4 1 2 3 4 1 2 3 4
wk wk wk wk wk wk wk wk wk wk wk wk
Selecting the
topic
Preparation of the
proposal for
study
Having the
approval of the
proposal
Selection of
secondary data
relevant to the
study subject
In-depth review
of the data
obtained
Developing the
thesis
Identifying
variables that
influence market
leadership
Proposing
possible methods
of achieving
market share
Making a short
conclusion on the
basis of the study
goals.
17
Tasks Time Targets
Month 1 Month 2 Month 3
1 2 3 4 1 2 3 4 1 2 3 4
wk wk wk wk wk wk wk wk wk wk wk wk
Getting the final

thesis Authorized
Final submission
of the report
Table 2: Gantt chart

15. Strategic Business Research Project Limitations
The analyst estimates only 500 customers in metropolitan areas to be interested in market
study. This does not represent the whole community properly. Thus, certain significant
variables impacting population-based market leadership could not be captured.
In addition, this Thesis reflects mainly on factors such as product growth, marketing
strategy, etc. However, considerations such as the efficiency of the workers, the
availability of raw materials, competitiveness, manufacturing capability, which have a
strong effect on market leadership, will not be covered by this thesis. Accordingly, the
researcher expects that all internal services are accessible in a satisfactory manner for the
planned market growth.
16. Using Project evaluation techniques suggest ways in which the success or failure of
the project will be evaluated upon completion.
Successes and failures of the project may be measured primarily by project evaluation
methods, the balance score card system, in which it is presumed that the entire project
mainly involves four areas of the organisation. The project will then be measured from
the Financial Viewpoint, the Internal Market Perspective, the Consumer Perspective and
the Creativity and Learning Perspective and concluded whether or not it was a good
project for the organisation.
18
02. PART TWO
A PROJECT REPORT ON PROJECT IMPLEMENTATION

AND ASSESSMENT
WORD COUNT: 6,733
19
02.a. Project Plan
02.a.1 Project Objectives
The project objectives have been laid out below in the form of Qualitative Objectives and
Quantitative Objectives. They were all built according to the characteristics of SMART.
Qualitative Objectives
 Gathering information to obtain the results of Marketing Mix components with

reference to Highland Fresh milk within two months.
 Evaluating data to determine the results of Marketing Mix components with reference
to the Highland Fresh milk within two months.
 Suggesting effective Marketing Mix tactics to raise market share within two months.
Quantitative Objectives
 Boosting production to generate 500,000 liters of Highland Fresh Milk every day in
the 1st year.
 Raising the market share of the fresh milk business by 20% in the 1st year.
 Raising profitability to 1 billion rupees in the 1st year.
02.a.2 Deliverables of the project
The deliverable of the project may be something that is planned to be distributed to the target
group by the project. In this analysis, five deliverables were described. What ones are;
• Proposing a campaign plan to re-launch the Highland Fresh Milk Pack.

• To propose effective product mix strategies to maximize market share.
• To suggest effective price mix strategies to maximize market share.
• Suggesting suitable methods for distribution to maximize market share.
• To suggest effective promotional techniques to raise market share.
20
02.a.3 Stakeholder dentification
Internal Stakeholders External Stakeholders
Shareholders Suppliers
Employees Customers
Staff Union Media
Community
Government
Competitors
Financial institutions
Dealers
Transport companies
Figure 5: Stakeholders
According to Mendelow's Power Interest Grid (UKEssays, 2018), stakeholders may be

separated into two major groups, both internal and external. The internal stakeholders are the
shareholders, staff union and personnel. External workers are vendors, clients, media, dealers,
rivals and financial institutions. In executing the project, it is important to consider the role of
Highland stakeholders and how they can react to each challenge of the project.
Shareholders, employee, dealers, transport companies and unions will be important

participants in this project, since they are really worried regarding the performance of the
project. Therefore, the aim of this initiative should be to handle them closely.
Customers are deemed extremely influential, but less involved in the events and tasks of the
project. It is also important to keep them always happy.
Vendors, government and Finance institutions can be known to be less influential but
strongly engaged in the operations and tasks of the project. It is also therefore important to
keep them updated about the events and projects of the project.
The rivals and media may be perceived to be less influential and less involved in the
operations and tasks of the project. However, it is therefore important to ensure that they are
adequately supervised in order to prevent risks impacting the operations and tasks of the
project.
02.a.4 The schedule of the project

Durati December January February
Activ Phase Start End
on
ity Name Time Time 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5
(days)
Conducting
marketing
4/12/2 26/12/
A research on 14
0 20
product
development
21
Conduct
marketing
4/12/2 26/12/
B research on 14
0 20
pricing
methods
Conduct
marketing
4/12/2 26/12/
C research on 14
0 20
distribution
methods
Conduct of
marketing
4/12/2 26/12/
D research on 14
0 20
promotion
Methods
Analyzing
existing 27/12/ 12/1/2
E 12
product mix 20 1
methods
Analyzing
existing 27/12/ 16/1/2
F 14
price 20 1
strategy
Analyzing
existing 27/12/ 10/1/2
G 10
distribution 20 1
mix
Analyzing
existing 27/12/
H 4/1/21 7
promotion 20
mix
Recommend
17/1/2 10/2/2
I ed Product 18
1 1
Approach
Recommend
ation of 17/1/2 16/1/2
J 22
pricing 1 1
methods
Recommend
17/1/2
K distribution 8/2/21 15
1
channels
Recommend
28/2/2
L communicat 9/2/21 14
1
ion methods
Table 4: Project Schedule
22
The project is expected to be finished within three months. It is therefore planned to begin on
5 December 2020 and to be finished by 28 February 2021. Market analysis will be carried out
as the first step. It's been scheduled to invest 14 days. The four marketing mix components
would then be analyzed for the next 43 days. After that, 69 days will be required to establish
the project plan.
Below is a network diagram drawn for the project, which comprises of many routes to
complete the activities of the project.
A E
I
B F
J L
End
Start
C G
K
D H
Figure 6: Network diagram

Critical Activity /
Duration (days)
WBS Sub No
Phase Name
Dependency
FLOAT
Activity
EFT
LFT
EST
LST
Not
A 1.1 C 14 - 0 14 2 16 2 No
Conduct marketing research
2.1 14
B on pricing methods. - 0 14 0 14 0 Yes
Conduct marketing research
3.1 14
C on distribution methods - 0 14 4 18 4 No
Conduct of marketing
4.1 research on promotion 14
D Methods - 0 14 7 21 7 No
Analyzing existing product
1.2 12
E mix methods A 14 26 16 28 2 No
F 2.2 Analyzing existing price 14 B 14 28 14 28 0 Yes
23
strategy
Analyzing existing
3.2 10
G distribution mix C 14 24 18 28 4 No
Analyzing existing
4.2 7
H promotion mix D 14 21 21 28 7 No
Recommended Product E,F,G,
1.3 Approach
18
I H 28 46 32 50 4 No
Recommendation of pricing E,F,G,
2.3 methods
22
J H 28 50 28 50 0 Yes
Recommend distribution E,F,G,
3.3 methods
15
K H 28 43 35 50 7 No
Recommend communication
4.3 14
L methods I,J,K 50 64 50 64 0 Yes
Table 4: Calculation of the EST, EFT, LST, LFT and Slack values,
Based on the above network diagram and the estimation of the EST, EFT, LST, LFT and
Slack values, the Critical Path was defined as the shortest path to complete the project. The
fastest time to finish the project is 64 days.
B (14) + F (14) + J (22) + L (14) = 64 days
24
02.a.5 Tasks of the project
Evaluation of Marketing mix strategies
Recommonding new Recommonding new Recommonding new Recommonding new

Product Strategies Pricing Strategies Distribution Strategies communication Strategies
Conduct marketing Conduct marketing Conduct of marketing

Conducting a Marketing
research on pricing research on distribution research on promotion
Reseach on Product mix
methods. methods Methods
Analysing existing Analysing existing Analysing existing Analysing existing

product mix strategies Pricing methods distribution methods promotion strategies
Recommended Product Analyzing existing price Recommend distribution Recommend

Approach strategy methods communication methods
Figure 7: Tasks of the project
Project activities have been split into four stages, namely product mix strategies, price mix
strategies, place strategies and promotion strategies. Project owner, Communications Officer,
Research and Production Manager, is responsible for designing suitable product strategies. It
is the responsibility of the Finance Officer and the Marketing Director to formulate pricing
plans. Third, the owner of the project and the marketing officer are responsible for the
implementation of sales strategy. The Marketing Director is directly responsible for creating
promotion techniques.
02.a.6 Dependencies of the project
25
Duration
Task Sub No Task Description Dependency
(days)
Conducting a Marketing Research on
1.1 14
A product strategies -
2.1 14
B pricing strategies -
3.1 14
C distribution strategies -
4.1 14
D promotion strategies -
Analysing existing product mix
1.2 12
E strategies A
F 2.2 Analysing existing Pricing strategies 14 B
Analysing existing distribution
3.2 10
G strategies C
H 4.2 Analysing existing promotion strategies 7 D
Recommend Product development
1.3 18
I strategies E, F,G,H
J 2.3 Recommend Pricing methods 22 E,F,G,H
K 3.3 Recommend distribution methods 15 E,F,G,H
L 4.3 Recommend promotion strategies 14 I,J,K
Table 5: Dependencies of the project
According to the above chart, all activities other than market analysis may be regarded as
dependents. In this way, no any activity other than the task one can be carried out without
finishing the previous task perfectly.
26
02.a.7 Resources
Human capital and financial resources are the key resources needed to effectively complete
the project. Human capital is supposed to be rendered accessible internally. Financial capital
can be obtained by both internal and external sources on the basis of the scale of the
investment.
02.a.8 Research Design
02.a.8.1 Research Philosophy
Saunders et al. (2016) talked to four study philosophies. Positivist theory is included in this
analysis.
02.a.8.2 Research Approach
The deductive research method is used in this analysis. As a consequence, the study will be
performed as quantitative research through a standardized and pre-determined methodology.
02.a.8.3 Conceptual Framework
The Conceptual framework defines the independent factors and the dependent factors in the
analysis. Based on the literature analysis of the project plan, four independent variables were
chosen, namely product strategies, pricing strategies, distribution strategies and promotion
strategies. Market share will be the dependent variable.
INDEPENDENT VARIABLES DEPENDENT VARIABLE
Product Strategy
Pricing Strategies
Raising Market share of

Highand fresh milk
Distribution Strategies
Promotion Strategies
Figure 8: Conceptual Framework of the Research
27
02.a.8.4 Research Population
The population of study will be customers in Sri Lanka over the age of 25. It's projected to be
4 million.
02.a.8.5 Sample Size
Sample is recognized as a subgroup of the population reflecting the features of the

population. The sample size of the analysis will be 500 customers residing in metropolitan
areas. This were chosen on the basis of a simple random sampling approach with an error
margin of 5 percent. The sample is then chosen at the 95 percent standard of confidence.
02.a.8.6 Types of data
There are primarily two forms of data called primary and secondary data. This research will
rely on both primary and secondary results. Primary data would be gathered primarily by
means of the survey process, and secondary data would be collected by local and foreign
industry papers and magazines, as well as internal organization reports and institutional
reports.
02.a.8.7 Types of data collection
The survey approach is the primary data collection method. It is carried out by means of a
questionnaire provided to the target audience. This comprises of Likert scale questions that
can be addressed quickly.
02.a.8.8 Data Analysis
For this research, quantitative research techniques will be used to assess the primary data
obtained from 500 respondents. Data obtained by questionnaires was evaluated using MS
Excel. Any descriptive analyzes are used to classify the results.
02.a.9 Use of Resources
The company's resources are clarified in the Key Performance Indicators and critical success
factors.
02.a.9.1 Key Performance Indicators
Key performance indicators of Milco (Pvt) Ltd.are mentioned below.
 State organization
State agency The Prestige as a Government State corporation is one of the main success
metrics. There are numerous dangerous products and drinks on the market today. In addition,
28
several imported milk powder firms have lost their business and their prestige as imported
milk powder has been found to be a dangerous substance in laboratories. As a consequence,
the Highland brand has earned public confidence as a state agency in Sri Lanka that often
delivers quality goods to consumers.
 Quality of the product
Highland milk has been found to be a safe drink in local and foreign labs. Actually two
chilling centers have been set up in the country to buy raw milk from producers. At the point
of procurement, a rigorous quality review is carried out before raw milk from farmers is
approved. In addition, multiple experiments are carried out on a random basis according to
batch wisdom during the production process and during the delivery period.
 Farmer’s channel
Currently, the organization has more than 30,000 farmers providing raw milk throughout the
region. No other dairy business has so many numbers of quality farmers around the world.
 Distribution Channel
The existing distribution channel has the capacity to distribute goods throughout the world, serving
both grocery, wholesale and new retail stores across its distributor network.
 Product Efficacy
Highland is Sri Lanka's largest diary firm. The innovative recipe of the beverage as a
nutritious drink has brought a strategic edge to the product.
 Country of Origin
Highland fresh milk is produced as a 100 percent Sri Lankan Beverage.
 Employee turnover
There are currently about 500 workers employed at the Milco organisation. For the past five
years, the workforce turnover ratio has been holding below 3%.
02.a.9.2 Critical Success Factors
Critical success factors are very critical for an organization to accomplish its goal.
 Management
Present management is quite experienced in the local and multinational dairy and agriculture
industries. They're all really experienced people in this category. Because of their strengths,
Highland milk powder became the dominant player in Sri Lanka after 2015.
29
 Production process
Milco is the organization with the biggest manufacturing facility for milk goods. They
currently have the potential to manufacture 300,000 liters a day. The development unit was
also set up to run for more than 24 hours and utilized the new technologies for the
manufacturing phase.
 Supply chain
Actually, 100% of the raw milk comes from nearby producers. Both vendors have been
licensed and are still tracked by the organization in order to procure raw milk on a daily basis.
In addition, the organization has several projects to encourage local farmers in order to
improve their productivity and efficiency.
 Quality of the product
No preservatives are applied to Highland fresh milk. It is 100% normal and has a shorter
expiry date. Currently, the organization has obtained a range of standard certificates to
guarantee its production quality, such as ISO 9001 and SLS.
 Workforce
The business has a highly skilled and talented staff that often guarantees good production and
less product defects. For the last three years the organization has issued no complaint about
product defects or quality problems.
02.a.10 Project Evaluation methods
Project appraisal is an examination that is involved in the review of all phases, such as the
preparation, execution and monitoring of a specific activities or project. It generates evidence
for the decision-making team of the project.
Project assessment may be carried out with two primary viewpoints. The first comes from the
viewpoint of the goals of the project (assessing the steps required to accomplish the
objectives of the project) and the second is from the organizational point of view (evaluating
project activities).
In order to achieve the objective of the project assessment, the project team will use different
techniques to determine the outcome of the investment. These approaches may be split into
two groups, such as discounted methods and static methods.
In the static process, actual cash flows and income are obtained without discounting for
calculation. Discounted cash flows and income will be eligible for appraisal in the
Discounted Approaches.
30
The undertakings are time-restricted efforts intended to accomplish explicit goals. The project
owner is solely responsible for executing the planned project as scheduled and under the
budget, along with the intended features. Also, before beginning the project, the project team
will set up a task to decide on success.
This assessment relies on the approaches expected to validate the expense of the project, the
state of execution, and whether the project team has faced hardware or capability problems.
Project assessment indicates an inconsistency, corrective steps should be taken promptly by
the respective manager of the project team.
 Financial analysis
Financial accounting assesses how the cash outflows of the project relate to the point of
execution. Here the real expense may be compared to the budgeted amount. Furthermore, the
performance or production of the project can be linked to the expenditure. If some difference
is observed, it is important to look for explanations and to take urgent corrective steps to
improve the performance of the project.
 PERT
PERT's "Project Evaluation and Review Technique" is a helpful approach to break down
operations. In the light of PERT graphs, the project management will chart development and
the percentage of completion of the project and tasks. This can be achieved with the program
by monitoring any activity of the team. Thus, whenever there are gaps in operations and
tasks, the vital route can be quickly established by this method.
 Risk
Risk management helps the project team to recognize risk areas and to monitor effective
contingency measures for the enterprise. In the case that the project is at high risk of failure,
which implies that it would not be available to carry out the expected capacities on time or at
normal expense, the project management wants to know the effects of this disappointment.
Risk estimation approaches see what would happen to the project or operation if a single
element, interest rate, exchange rate, were to suffer an immense and unexpected shift. It tries
to determine the likelihood of such a shift at that stage. The project team can build prospects
with variables that combine high likelihood and true outcomes.
31
02.b Business Project
02.b.1 Implementation of the project
The project implementation is divided in to four main categories.
 The first is to recommend effective Product Strategies

 The second is to recommend effective Pricing Strategies
 The third is to recommend effective Distribution Strategies
 The fourth is to recommend effective Promotional Strategies
Each stage consists of a variety of activities. The first task of each stage is to perform market
analysis. The key purpose of this study is to recognize the impact of the latest marketing mix
elements in order to maximize the market share of Highland Fresh milk. Below is the study
suggested for this research.
Population: Customers who have fresh milk in Sri Lanka
Sample: 500 customers in metropolitan areas of Sri Lanka
Centered on a simple random sampling procedure, respondents can be chosen and the data
can be obtained via a standard questionnaire. This questionnaire may be prepared with all
questions relating to the Product, Price, Place and Promotion elements in a single
questionnaire. Locations such as Modern commerce, retail and wholesale which be used for
this analysis, and it is recommended that all problems should be developed in conjunction
with the Likert approach.
After data is obtained within two weeks as described above, it can be evaluated using the
SPSS program or the MS excel framework in order to obtain the findings. The finding could
then be regarded in order to plan and establish effective techniques for such marketing mix
components. It should start with the product strategy. It can then be shifted to price, delivery
and promotion strategies.
Around the same period, it might be appropriate to organize and discuss such meetings with
external parties, such as the media, vendors, financial institutions, etc.
02.b.2 Getting suggestions from employee
As part of market analysis, feedback and proposals are captured via a variety of approaches.
Basically, there are two key platforms to be established to collect employee feedback. These
are the,
 Intranet Business
 Suggestion box and interviews
 To speak out (Whistle blowing Hot Line)
32
There is actually no internal device like Intranet or Whistle blowing Hot Line. As a
consequence, the Suggestion Box and forums are primarily used to collect fresh suggestions
from internal stakeholders. Because all department leaders serve the project team, the
Suggestion Box and interview approaches are primarily used by non-executive personnel to
engage in decision-making at work.
02.b.3 Innovation Audit
An innovation audit is carried out on the other aspect of the study. The project team aims to
carry out an innovation assessment to find enhancements or innovative approaches for
improving innovation capabilities. The research and development boss is also entirely
accountable for this function. During this audit, the project management is primarily
concerned to ensure that the existing innovation skills, practices and processes are
appropriate for the execution of the project. If not, several changes are expected during this
project.
As per Drummond and Ensor (2001), there are three main factors to be discussed under the
innovation audit.
Policies
Organisational
Practices
Climate
Current Innovation Cognative

Performance Audit Style
Figure 9: Components of Innovation Audit
The reason for this initiative is that there are many obstacles and drawbacks to an effective
innovation phase. Some funds have therefore been allocated to enhance the existing
innovation phase of the Milco organization in the five main areas listed above.
02.b.4 Proposed questionnaire
What are the key considerations you consider when choosing a brand of fresh milk (please
score as per your choice)?
Packaging
Efficacy
Taste
33
Price
Availability
Advertising
Product
 Highland Fresh Milk Pack is simple to use;

 The expiration periods appear less
 The flavor is good;
 Thick and smooth textured milk
Price
 Highland Fresh milk values are higher than rivals

 The price of Highland Fresh Milk is still changing
 Promotional offers occur
Distribution
 Highland fresh milk is still available stores island wide for purchase
 The visibility of Highland Fresh Milk at stores is satisfactory.
Communication
 Advertisement appears always

 Ads is appealing and interesting.
 Ads persuade buying of Highland fresh milk
02.b.5 Implementation of Strategies
02.b.5.1 BCG matrix
After reviewing the results, the next activity under the Recommendation Strategy activity,
centered on the findings of market analysis, is to carry out long-term strategic planning. This
includes preparing development opportunities by analyzing the product range of the Milco
business in order to decide when to spend the best, how to divide funds between SBUs and
whether to avoid or develop goods. All this preparation is achieved via the BCG matrix.
According to Boston Consulting Group (1968), any commodity can be classified to one of the
groups according to the BCG matrix. They're Star, question marks, Cash Cow and Dog.
Organizations can use different techniques for each position/category. Based on the results of
the study, the project team can determine how these techniques are applied among the
Highland SBUs.
34
Improving a commodity is fair for question marks, since the market share may be improved
by successful advertisement combining of elements in becoming stars.
Hold approach is suitable for good cash-cow goods as long as they produce sufficient cash
flow.
Harvest approach is employed when a company wants to boost short-term cash flow rather
than long-term corporate longevity and much of these goods cannot be repositioned and
market share increased. There are still bad goods on the sector, and there is no promising
image in the long run. It is also necessary to extend the Harvest strategy to items in the poor
cash cow type. Often this technique will have to be extended to items in question marks and
dog classification.
The last approach addressed in the BCG Matrix is the Divest strategy. This approach is
mostly applicable to products which are referred to as "dogs" in the BCG matrix since these
items do not have acceptable market share and market development.
In the case of Milco, there are many items eligible for marketing in its commodity range
under the Highland brand label. They are Highland milk powder, Highland fresh milk,
Highland butter, Highland yogurt, Highland yoghurt, Highland ice cream and Highland ghee.
As a consequence, Milco cannot rely exclusively on Highland fresh milk. It is necessary for
all goods to continue due to increased demand and higher profitability.
Highland milk powder, for example, is the industry leader in Sri Lanka. Highland yoghurt
and highland ice cream both have a larger market presence in the local market. As a
consequence, these three products stand as stars in the BCG matrix. Demand development in
Sri Lanka is very strong in the segment of fresh milk. However, Highland fresh milk has not
been able to raise market share. It currently has a market share of 19%, while the market
leader in the fresh milk segment named Ambewela enjoys 69% of the market share. Highland
fresh milk is also a question mark in the BCG matrix. In this scenario, further investment will
be required to move it to the "Star" category in the BCG matrix. It can be clearly seen in the
chart below.
35
Figure 10: BCG matric
02.b.5.2 Ansoff matrix
The Milco aims to expand its market share via the product development approach to the
current market. It is named the Ansoff's Product development strategy. Research findings
indicate that generally people in Sri Lanka get vitamins and nutrients from milk. But it is
clear that the goods should be safe. Therefore, in order to maximize market share, Highland
could manufacture an innovative commodity distinguished from rival goods.
Figure 11: Ansoff matrix
In order to develop the product with a differentiation approach, it should have the following
elements.
• Outstanding laboratory facilities;

• Good squad for research and growth
36
• Utilizing the new equipment
• Good channel of distribution
• Having adequate financial capital
• Upgrade of processing plants
• Good supply chain control and consistency
• Scientific assertions
As a state-owned enterprise, Milco has the potentiality to develop product under the product
development strategy. The expenditure of this project specifically demonstrates the
distribution of funds for the execution of the project, taking into account expenditure in
product creation as well.
In this situation, the following things should always be kept by Milco.
 Rising market share by product differentiation, integrated pricing strategies,

differentiated place strategies and unique marketing and advertising efforts.
 Regularly winning consumer satisfaction with a premium offering.
The graph below illustrates how industry participants in the fresh milk sector are currently
placed.
Figure 12: Positioning Matrix
According to the above-mentioned Metrix, Highland fresh milk should place the output of the
commodity at a reasonable price that should not be higher than the price of the competitor.
The price policy can then be a competition-based pricing strategy.
02.b.5.3 Porter’s Generic Strategy
Milco can continue to rely on the Differentiation Strategy of Highland Fresh Milk to increase
brand value and market share. Though the quality of the commodity improves, the price
37
cannot be improved similarly. In the manufacturing phase, an effective value chain structure
should be built. The differentiation approach relies on the strong availability of capital
resources, uman resources and financial resources.
Figure 13: Porter’s Generic Strategy
Source: Hooley et al (2008)
According to the existing Product Mix, fresh milk is only available in the form of white
liquid milk. It is safer, though, if they will switch to manufacture Flavored Liquid Milk such
as vanilla, Cocoa, Strawberry too.
One of the key results of market analysis was to adjust the existing package of fresh Highland
milk. This project recommends the use of the UHT (Tetra pack) and enhances the substance
as a delicious and highly nutritious fresh milk liquid. Highland fresh milk is available today
in 500 ml and 1-liter packs. Yet 200 ml packets targeting school children should be used for
flavored liquid milk.
Present Pack
Proposed Pack
Figure 14: Highland Old and proposed pack
38
In order to achieve acceptance of the consumer along with the product development
approach, an integrated marketing plan must be implemented. In order to achieve the
objectives through this approach, the organisation should expand new capacities that have
enhanced products, and can become familiar with existing markets in order to satisfy the
changing needs of the customer. Milco's organization can understand the latest advertising
concepts that are in accordance with the purchaser's wishes.
Also, the results suggest that the items are not eligible for purchase. This will damage
consumer satisfaction. The organization then takes urgent steps to expand supply on the basis
of consumer demand. Furthermore, the distribution plan should be able to guarantee that
goods are accessible in both department outlets, wholesale shops and new retailers around the
world.
02.b.6 Roles and responsibilities of Project team
Activity Phase Name Start Time End Time Duration Responsible

(days) person
A Conducting 14 Marketing
marketing research Director
4/12/20 26/12/20
on product
development
B Conduct marketing 14 Marketing
research on pricing 4/12/20 26/12/20 Director
methods
C Conduct marketing 14 Marketing
research on Director
4/12/20 26/12/20
distribution
methods
D Conduct of 14 Marketing
marketing research Director
4/12/20 26/12/20
on promotion
Methods
E Analyzing existing 12 Marketing
product mix 27/12/20 12/1/21 Director
methods
F Analyzing existing 14 Finance Director
27/12/20 16/1/21
price strategy
G Analyzing existing 10 Marketing
27/12/20 10/1/21
distribution mix Director
H Analyzing existing 7 Marketing
27/12/20 4/1/21
promotion mix Director
I Recommended 18 Research and
Product Approach 17/1/21 10/2/21 development
manager
J Recommendation 17/1/21 16/1/21 22 Finance Director
39
Activity Phase Name Start Time End Time Duration Responsible
(days) person
of pricing methods
K Recommend 15 Marketing
distribution 17/1/21 8/2/21 Director
channels
L Recommend 14 Marketing
communication 9/2/21 28/2/21 Director
methods
Table 6: Development of Project team
The Mintzberg Team role model (1973) can be used to describe the role and duties of the
group. There are however, positions to be performed by project participants, including
organizational roles, informational roles and decision-making roles.
Responsible Designation Role

person
Project Owner Managing director He should play a leading role in the effective
execution of this initiative. As a consequence,
it has a clear obligation to delegate work
among project participants, to establish a
project team, and to motivate project members
to achieve the project goal.
In addition, all decision-making functions,

including the Entrepreneur, the Disruption
Handler, the Capital Allocators, and the
Project Negotiators, shall be undertaken by the
Managing Director.
Project Marketing Director The Project Coordinator should perform a
Coordinator liaison role in order to organize the
participants of the project and external
partners.
Resource persons Finance Director Performing financial control and budgetary
control of the project.
Marketing manager The Manager marketing will be the
spokesman responsible for exchanging details
with third parties.
Store manager The heads of both divisions, including the
Research and Store Manager, the Research and
development Development Manager and the Production
manager Manager, will serve as Disseminators
Production Manager throughout the project. Whose prime aim is to
convey the confidential knowledge directly to
40
the subordinates.
Executive Marketing Executive Marketing officers would play their
officers role as the Monitors. They are responsible to
conduct the market research to collect new
information and evaluate the environment for
the project.
Purchasing manager the Disseminators who are passing on
privileged information directly to
subordinates.
Table 7: Roles and responsibilities of Project team
02.b.7 Quality Management Plan
In order to ensure an appropriate quality standard of the enterprise, the Quality Control
Strategy is important for the project. This is built according to the needs of the customer.
Once an appropriate standard of output has been determined, all deliverables and activities of
the project should be preserved. They can be separated primarily into two groups.
 Documentation
It is important to establish an adequate reporting procedure for and role of the project. This
can be maintained either manually or in a device. Responsibilities are the biggest benefit of
the proper reporting scheme, and the officials are routinely engaged and no one may deviate
from the recorded procedure. Because all proposals and permissions are submitted in writing
or in a structured fashion, the roles and authorities of the team participants can be subject to
reliable supervision over the project.
 To conform with the accepted specifications and expectations of the company.
As a state body, there are a range of specifications and guidelines to be met. Therefore, every
individual named as a project member should carry out his/her duties in compliance with
these decided criteria and expectations of the company in order to improve its openness,
accountability and job reputation.
 Recognizing the gaps and taking corrective steps to address them
41
Establishing appropriate internal controls is important to discover if there is a difference and
to take corrective measures to address them. For example, if the project is carried out over the
budgeted number, a proper mechanism could be in effect to discover that from the onset and
to develop cost management measures.
02.b.8 Techniques of Project management
Project management methods are very helpful for the efficient execution of the project. This
is a theoretical and biochemical solution to the success of the scope of the initiative. Focusing
on the related ideas of project management strategies will eliminate errors while the project is
at the planning stage.
Figure 15: The relevant fields based on Project Management techniques
In order to effectively complete project management, it is important to know that all planned
work is carried out according to the timetable specified. It is therefore really simple to use a
graphic guide to chart the success of the project toward the initial schedule. Then design to
mark all activities with their status with the percentages of duty and completion.
It contributes to the understanding and creation of a project progress tacker to be included as

the project begins.
Planned Actual
WB Task Responsib Comple Start Finish Start Finish Progres
S ID description ility tion time time time time s update
42
Table 8: Project progress tracker
Project status documents are a successful opportunity for project managers to warn project
owners to success and enable them to recognise threats and other issues that can be resolved
immediately.
02.b.9 Communication Management Plan
This Communication Management Plan includes an overview of the stakeholders that need
information, the essence of the information specifications, the most suitable time and the
most appropriate mechanism for communicating such details, in addition to the contact tools.
As an intermediate phase in the implementation of a contact management strategy, it is
important to recognize the stakeholders interested in the project under consideration.
Recognized Stakeholder are:
 Board of the Milco Company

 Management
 Employees
 Media
 Vendors
 The Ministry of Livestock Development
 Public community as a whole
02.b.10 Risk management committee and Risk management register
It will be necessary to establish a risk management registry for the crisis management and
risk reduction programme. This is sponsored in order to see all threats during the process. Not
just that, over a certain amount of time, this registry allows to review the project as to what
are the threats found and what are the counter steps implemented for that period. Danger
registry and risk appraisal tool implemented to promote risk-free management initiatives. The
risk evaluation tool uses knowledge to allow the overall risk of projects to be carried out on a
daily basis by employing risk control methodologies within the project. In addition to the risk
control registry, it is best to set up a risk management team while the risk management
scheme is ongoing to a certain degree. Any characters are found in the Risk Control
Committee rather than the risk management by the owner of the project. The potential threats
are follows.
 Financial risk
 Risk in Quality
 Risk in Production
 Risk in planning
 Market risk
43
44
02.c Project Evaluation
02.c.1 Cashflow for the first year (Million)
Year 1 Year 2 Year 3

Cash Inflows
Sales 10,000 12,000 20,000
Cash Outflows
Material purchase 7,000 8,000 14,000
Administrative expenses 700 800 900
Sales and marketing expenses 500 300 300
Finance expenses 100 100 100
Purchase of fixed assets 50 25
Tax payment 30 40 50
8,380 9,240 15,375
Inflow over outflow 1,620 2,760 4,625

Opening cash balance 25 1,645 4,405
Closing cash balance 1,645 4,405 9,030
Table 9: Cashflow budget
Upon implementation of the Cashflow budget, the company will be able to generate a high
monthly cashflow. Accordingly, future financial and economic prospects of the project are
acceptable.
02.c.2 Budgeted Income statements (Million)

Year 1 Year 2 Year 3

Revenue 10,000 12,000 20,000
Cost of Sales 7,200 8,250 13,900

Gross Profit 2,800 3,750 6,100

Administrative Expenses 810 910 1012
45
Sales & Marketing Expenses 581 381 391
Finance cost 100 100 100

Net Profit before tax 1,309 2,359 4,597
Tax 30 40 50
Net Profit after tax 1,279 2,319 4,547
Table 10: Budgeted Income Statement
If the grant-funded project is successfully implemented, the company will earn a strong profit
in the coming three years. This is due to growing market share and increased revenue. Thus,
the future profitability of the project is acceptable.
02.c.3 Project Appraisal
02.c.3.1 Net Present Value

Year Net Cashflows Discount Rate 10% Discounted cash flow
0 -2154 1 -2154
1 1620 0.909 1472.58
2 2760 0.826 2279.76
3 4625 0.751 3473.375
Net Present Value 5071.715
Table 11: Net Present value method
The Net Present Value method was used to evaluate the project and the results were based on
the discounted cash flows over a three-year period. Findings demonstrate that the project has
an NPV of 5,071.715. This is a pleasant way to return after completing a project.
02.c.3.2 Payback Period

Year Net Cashflows
0 -2154
1 1620
2 2760
3 4625
46
Table 12: Payback period method
The project costs can be recovered within 1 year and 2.3 months, as calculated by the
payback process. Therefore, this can be considered as a much satisfactory shorter payback
period.
02.c.3.3 Return on Investment Analysis
Return on Investment = Average profit x 100
Initial Investment
= 2755 x 100
2154
= 128%
The return on investment on the project according to the above estimate is 128%. It is also
very beneficial relative to the returns from other current investment alternatives.
02.c.4 Research Findings

500 500 500 500 500 500
500
450
400
350
300
250
200
150
100
50
0
Advertising Packaging Price Availability Efficacy Taste
Figure 16: Factors affecting selection of a fresh milk brand
47
As stated in the above bar chart, all respondents have pointed out that the purchase of fresh
milk is important in all areas such as publicity, packaging, price, availability, efficiency and
taste.
425
450
400
350
300
250
200
150
100 68
50 2 2 3
0
Strogly agree Agree Moderate Disagree Strogly Disgree
Figure 17: Highland Fresh milk Pack is easy to use
The above chart shows that Highland Fresh Milks Pack is now easy to use, most respondents
said.
450 410
400
350
300
250
200
150
75
100
50 1 10 4
0
Figure 18: Expiry dates are longer
The majority of respondents claimed that expiry dates are fair, as seen in the above bar chart.
48
250
250
200
150
150
90
100
50
4 6
0
Figure 19: Taste is good
The majority of respondents said that Taste is now very strong, as mentioned in the bar chart
above.
300 269
250
200
150
110
100
52
41
50 28
0
Figure 20: It is thick and creamy textured milk
In accordance with the above bar chart, most respondents said that fresh dairy in Highland is
now thick and creamy in texture with comparison to the products of competitors.
49
350 320
300
250
200
150
80
100
47
50 26 27
0
Figure 21: Price of Highland Fresh milk is better than competitors
The above bar chart shows that the price of Highland Fresh Milk is competitive now, the
majority of respondents said.
389
400
350
300
250
200
150
100
41
25 31
50 14
0
Figure 22: Price of Highland Fresh milk is fixed
As per the above chart, the majority of the respondents have mentioned that Price of
Highland Fresh milk is now fixed.
50
450
400
350
300
250
200
150
100
50
0
Figure 23: Promotional prices are available
The above bar chart says that promotional prices of Highland Fresh milk are normally
available.
425
450
400
350
300
250
200
150
100 61
50 10 4
0
Figure 24: Highland Fresh milk is always available to buy
As in the above diagram, most respondents said that fresh milk from Highlands is now
available for purchase.
51
431
450
400
350
300
250
200
150
100
41
50 13 15
0
Figure 25: Visibility of the Highland Fresh milk at the shop is good
The above chart shows that the noticeable results of fresh Highland milk at the store are now
strong for most of the respondents.
450 411
400
350
300
250
200
150
100 71
50 14 4
0
Always good Moderate Rarely Not at all
Figure 26: Advertisements are always available
According to the above diagram, most respondents said that advertising is now available
either off-line or online.
52
428
450
400
350
300
250
200
150
100 51
50 10 11
0
Figure 27: Advertisements are attractive and creative
The majority of respondents said that advertising is now appealing and innovative according
to the table above.
450 421
400
350
300
250
200
150
100 51
50 21
7
0
Figure 28: Advertisements encourage to purchase fresh milk
According to the diagram, most of the respondents reported that Advertisements now
encourages fresh milk to be purchased.
53
02.c.5 Conclusion
The project's main aim is to relaunch Highland fresh milk. The reason why Highland fresh
milk has only 20 percent share in the market is because it is not good as the market leader in
fresh milk category, even though Highland milk powder performs as the market leader in the
milk powder category. This propelling force arises from the quick progress in marketing fresh
milk.
Under the project plan, six main objectives were envisioned. The first objective of this project
is to generate essential data on the effects of marketing mix elements on the Highland Fresh
milk products sales in two months. In order to collect consumer and employee information
from various sources, an extensive research was conducted. The second objective was
achieved by developing a consumer behavior prediction for target industry. Consequently, the
appropriate initiatives were implemented to increase market share within two months. Those
are mandatory objectives. There are also three qualitative objectives developed for this
project. The main objective is to increase the production of Highland Fresh milk to 500,000
liters of Highland Fresh Milk every day in the 1st year. It is essential to adapt new technology
and upgrade production plants to meet the objective. To increase the market share of the
company by 20 percent within one year. By putting this plan into action, the company will be
able to achieve the goals within one year. The final objective was to double profit within the
first year. This change would lead to achieving the market size and reach the production
levels.
02.c.6 Recommendation
The following suggestions are made in relation to Highland fresh milk, to concentrate on the
focus of the plant. To create a competitive advantage, every activity in a company must be
actively considered and improved. This would help improve future projects that would be
performed at this company.
Milco offers only two abilities. They are experienced, abundant, and financially strong.
Increasing value creation is vital for brand equity development. Higher brand equity leads to
increased market share which eventually leads to market leadership.
54
Therefore, Milco needs to develop projects properly in order to differentiate their product
features from rivals and focus on unique offerings to consumers. For example, taste, quality,
nutrition, healthy, price, etc. should be made difficult for competitors to copy. Market
preferences are constantly evolving. In order to create a similar project, we must first develop
one in the future. Therefore, it is recommended that the company alter their products to meet
the needs of their customers. The chart (below) explains more in detail.
Potential Offer
Augmented
Offer
Expected
Offer
Core
Offer
Figure 29: Product development
Source: Hooley et al (2008)
This map graphically displays how a commodity may be placed within various consumer
segments. Products provide the key principles and benefits they have. However, it is enough
for what is in that division. But it may vary in another field. In order to be effective, the
company can concentrate on providing the highest value and profit from the product to draw
buyers. This is either the planned bid or the augmented offer. It depends on how competitive
customers are in terms of product quality and architecture.
55
03. PART THREE
REVIEW AND CONTINUING DEVELOPMENTS
WORD COUNT: 2,001
56
03.1 Self-evaluation
The protagonist of this project was able to excel on this project thanks to his communication
qualities, topic awareness, problem-solving skills, etc.
The project suggests that Highland fresh milk is proving to be financially successful. So, it
falls under the problem-solving group. The issue with Highland Fresh is low market share for
that company. But in other markets, (SBU) is doing well. Without Highland milk powder, the
milk powder industry cannot thrive. The business comes under state control. This method
leads the thinker to look at the issue from multiple viewpoints.
The author integrated the democratic leadership style to establish this project. He collected
feedback from multiple sources and based it on his team's thoughts and decision. He still took
interest in all facets of the project and was accessible to many more conversations and
changes with different stakeholders with his own style of thought. Consequently, the author
completed the research on schedule without needing to waste further time preparing the
project.
The author chose those attributes to incorporate in their project plan.
• All the team members have been interested in the process.
I act as a democratic leader by collecting feedback from my subordinates and making

decisions based on the results of the meeting. This conduct adversely impacted employee
morale, aversion to reform, retention of employees and capacity growth for the staff.
For example;
The author conducted surveys which helped the project team to find new methods of
enhancing processes and how to ensure best practices.
 Managing issues
He handled complex commodity and company portfolios and corrected operational problems.
Because of the restricted prospects for competition and market development in the state-run
organisations, it is challenging for them to develop their companies. This differs based on the
leader's leadership style. For his leadership position, his organization survived and expanded.
57
To obtain data on the subordinates' assessment, he gathered relevant data. Additionally, he
noticed emerging developments in the industry and customer conduct. This method of
addressing situations culminated in the most desirable outcome imaginable.
 Managing Risk
The author used the democratic leadership style to be effective in avoiding the hazards of the
project. As a strong leader, he should be able to withstand confusion, react efficiently to
adversity, empathize with others, keep a positive mindset while tackling difficult issues, and
remain inspired. The author developed a strong self-confidence, but also demonstrated the
ability to demonstrate modesty.
To accomplish the aim, the author analyzed all the applicable procedures and found a number
of possible changes.
 Team work
The author used his experience and insight to build a strong team by observing effective
managers. He worked with participants of the project to quickly and effectively plan,
organise, and develop activities. Finally, Jack developed a forum that encourages workers to
express their thoughts and to participate in a constructive way.
Managers have been expected to operate on the factory floor, remain in touch with staff,
observe what's going and recognise and answer issues.
Collaborations describe the collaboration climate. He directed his squad to conduct a mission
in a joint effort. To do this, he has melded a dynamic community of employees with often
varying approaches. By utilizing distinct personalities, the party was able to advance across
difficulties both material and intimate.
The author recruited and developed a team consisting of individuals with many of the various
expertise, including Publicity, Manufacturing, Research and Growth, Computer Technology,
Shops, Procurement, etc. As a consequence, he was able to overcome a dispute between
workers about workload helping every step of the way to make this team climate succeed.
 Empowering project members
58
He inspired the team participants to excel and performed their duties. He defined the skills
needed by the employees, and taught the employees the methods to accomplish their assigned
work effectively.
Esteem, empowerment and inspiration became common themes in the community of his
management style.
 Communication skills
Leadership is natural and not experienced. The author appreciated the objectivity of the study
over the single unpleasantness it could create. However, he was not ruthless. He had good
relational ability and organizational capabilities to direct a community of people toward a
common goal so that the entire team is persuaded to collaborate viably in order to arrive as a
group. Further he procured the confidence and regard of his team by displaying optimistic job
characteristics and certainty, at that stage promoting a circumstance that multiplies these
attributes across the team.
 Team Builder
The condition could shift in some manner. This was the explanation why he built a great
deal of versatility for the project. Many of the participants have the requisite technical
credentials and experience. In this way he took steps to draw on their talents and experience
by encouraging them to express their thoughts, opinions, rather than merely expecting them
to engage.
 Highly self-inspired
No one wins even the smallest land by relaxing and hoping to be found. He went out into the
community and by their activities made progress possible. He frequently used challenges
and worked to cope with problems that were immune to them. He responded well to big
shifts in his situations without splitting and is ordinarily a master at adjusting with them by
convincing them toward different concepts and goals. Frequently he was motivated by a
fuller goal or purpose than only getting the job at hand to be completed and ready to think to
a progressively all-inclusive basis in such manner. He was extraordinarily passionate about
his feelings, and this rendered it difficult to fully suppress his thoughts.
59
 Strong sense of basic ethics and integrity
A company has a viable future only if they stick to fair business practices. He understood
that these universally-accepted standards of ethics were included in the company. He used
those skills because he wanted them in this project so that he can demonstrate his integrity
with the project and the company. With this significance, he often confessed to any mistake
made instantly and offered suggestions to fix them rather than misleading about the event or
blaming the group participants or employees, or focus on the issue itself when dealing with
clients or the project team.
 Serial innovators
Company people are extremely driven to do business by creative innovations and inventive
approaches. In reality, that is the manner in which most of them entered business. The
author still acknowledged the need for improvement and constantly searched for innovative
avenues to develop.
 Competitive spirit
He exploited his competitive qualities to embrace obstacles in order to become the winner.
Some issues come up regularly in one's work life, Thus, he converted the obstacle into a
perfect one. The new-found trust of the project team, which influenced their job, as well.
 Understand the value of a strong peer network
In almost any situation, no one will attain achievement without the aid of others. In a project
like this, a collaborative effort is important. He built a network of collaborators, financial
backing, colleagues, and capital to fund and accomplish his mission.
03.2 Future Plans
The general aim of the paper is to become a prosperous entrepreneur. A primary aim of
becoming an entrepreneur is to execute one's ideas. If he wishes to shift that direction, he
would require imagination, communication capabilities, fundraising ability, and leadership
skills. In addition to leadership and managerial skills, one often wants entrepreneurial skills.
60
However, these abilities are built by experience and practice. It is essential to learn and study
extensively in that specific area. With schooling, entrepreneurs grow their entrepreneurship
abilities and actions by leveraging the mentality they already have. Thus, the most significant
aims of a professional growth strategy are to create innovative and important concepts,
recognise strategic prospects, develop the capacity to recruit subordinates, find, integrate and
extend information to different environments, and make rational choices.
An entrepreneurial attitude is the essential trait that enables an individual to achieve success.
This attitude will weaken when he gets thoroughly absorbed in the regular routine of
industry. By displaying this mindset, he is capable of overcoming the most common
challenges, and will undergo growth.
The development in entrepreneurship qualities, such as self-assurance, versatility, and

excitement, provides a springboard to success and may contribute to an extension of pleasure
in both work and personal life. Being more entrepreneurial helps a person to grow these traits
which encourage them to work harder and feel happier at work and at home. Getting the drive
to excel and the courage to take on different opportunities makes us more willing to take
chances. Being willing to control and address challenging situations in the work setting can
help you develop your managerial abilities and relationship skills with other associates. When
a preliminary degree of certainty is met, there is a stronger chance to find progress. The
entrepreneurial mindset of conquering obstacles and keeping one's convictions is an apt path
to progress in life.
Furthermore, looking at how skill and personality relate to the impact an individual has on
others is a significant trait and one that is easier to do with a pioneering mindset. Developing
goals and milestones for professional development is streamlined when paired with creativity
capabilities and projects.
People with entrepreneurial attitudes will recognise and take advantage of openings as they
pop up in the workplace. However, without an entrepreneurial atmosphere in companies and
businesses, there will never be entrepreneurial outlooks, since the sustainability of the
company relies on the team's desire to develop and their willingness to take risks.
In order to effectively operate on this personal growth strategy, the author must build a state
of mind that enables entrepreneurship. The aspiring entrepreneur must obtain experience
working under established entrepreneurs in Sri Lanka as well as experience in overseas
countries. Sri Lanka has many dysfunctional sectors like substandard public transportation,
61
unsafe food and drinks, lack of technology for company activities, substandard educational
system, and a weak healthcare sector. In this situation, he creates a strategy by defining issues
about which he needs to fix.
In addition to learning crisis and dispute managing skills, it is also important to become a
specialist in problem solving. In these fields, you will build self-improvement strategies.
Below is the professional growth strategy for the coming year.
 Improving creativity to solve problems
One element of creativity is the capacity to draw associations between apparently different
incidents or circumstances. Entrepreneurs also come up with ideas that are a combination of
other products. They will repurpose goods in order to sell them to different markets. It is also
anticipated that solutions can be sought to the problems confronting the industries in Sri
Lanka.
 Self-Starter
It has to be understood that if anything has to be accomplished, people should initiate it on

their own. It is then assumed that the criteria will be established and that the proposals will
pursue the direction by being constructive, not waiting for anyone to grant approval.
 Confidence
Usually, entrepreneurs are not raising concerns of whether they will survive or whether they
are capable of success. It is also required to be more positive in the expertise that is required
to render companies effective.
 Open Minded
Perhaps every case and every scenario are a business opportunity. Ideas are continuously
being created about workflows and productivity, people's skills and possible new enterprises.
It is also expected to gain the opportunity to look at everything and reflect on them as long as
the targets are accomplished.
 Passion
Passion is the most significant attribute of a good entrepreneur. It is anticipated that they
would really enjoy their job and put in the extra hours to make the company a success,
62
because there is a pleasure that business brings that goes beyond profits. It is also expected to
read and discuss opportunities to make companies better off.
 Determination
Entrepreneurs are not hampered by their losses. They see loss as a chance for growth. They
are eager to make all their attempts succeed. Therefore, it is supposed to attempt again before
it does, assuming that anything can't be achieved.
63
References
Aaker, D. A. (1995) ‘Building strong brands’, The Free Press, New York.
Chintagunta, P. K. (1998), "Inertia and Variety Seeking in a Model of Brand-Purchase

Timing," Marketing Science, 17: 253-270.
Department of Census and Statistics Sri Lanka, (2019), “Agriculture”, Department of Census
and Statistics, Colombo. [online]. Available at:
http://www.statistics.gov.lk/agriculture/Livestock/MilkProduction.html. [Accessed 10
November 2020].
Hooley et. al. (2008), Marketing strategy and competitive positioning. 4th ed. Harlow,
England: Prentice Hall Financial Times, pp.361, 365.
Kotler, P. and Keller, K. L. (2007), Marketing Management, 13th Edition, Upper Saddle
River, NJ: Pearson Education Inc.
Milco (2019). Company Overview. [online]. Available from:

http://www.milco.lk/contactus/index.asp. [Accessed 2 November 2020].
Mintzberg, H. (1973). The Nature of Managerial Work. New York: Harper & Row.
Muthuvelayutham (2012). The Study of Consumer Brand Loyalty on FMCG- Cosmetic

Products with Special Reference to Madurai. European Journal of Scientific Research ISSN
1450-216X Vol.71 No.1, pp. 127-143.
Porter, M. E. (1990). The Competitive Advantage of Nations. Harvard Business Review.
Saunders, M., Lewis, P. & Thornhill, A. (2008), “Research Methods for Business Students”,
4th edition, Prentice Hall.
UKEssays. (2018). Sri Lankas Economic Development: The Dairy Industry. [online].
Available from: https://www.ukessays.com/essays/marketing/sri-lankas-economic-
development-the-dairy-industry marketing-essay.php?vref=1 [Accessed 5 November 2020].
Wijesundera. G. (2010) Factors influencing the demand of toothpaste among female

consumers in the greater Colombo region. ICBI 2010 - University of Kelaniya, Sri Lanka.
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ASSIGNMENT COVERSHEET

STUDENT’S NAME : Dinesh Anthony Angammana

STUDENT NO. : MSC - 13 - 01 - 303

PROGRAMME : Executive MSc in Strategic Marketing

ACADEMIC FACILITATOR: Mr. Lewie Dias

LEARNING CENTRE : CAMBRIDGE COLLEGE OF

01. PART ONE..........................................................................................................................7

02. PART TWO.......................................................................................................................19

02.a. Project Plan..................................................................................................................20

02.a.1 Project Objectives..............................................................................................20

02.a.2 Deliverables of the project................................................................................20

02.a.3 Stakeholder dentification...................................................................................21

02.a.4 The schedule of the project...............................................................................21

02.a.5 Tasks of the project...........................................................................................25

02.a.6 Dependencies of the project..............................................................................26

02.a.8 Research Design................................................................................................27

02.a.8.1 Research Philosophy..........................................................................27

02.a.8.2 Research Approach.............................................................................27

02.a.8.3 Conceptual Framework......................................................................27

02.a.8.4 Research Population...........................................................................28

02.a.8.5 Sample Size........................................................................................28

02.a.8.6 Types of data......................................................................................28

02.a.8.7 Types of data collection.....................................................................28

02.a.9 Use of Resources...............................................................................................28

02.a.9.1 Key Performance Indicators...............................................................28

02.a.9.2 Critical Success Factors......................................................................29

02.a.10 Project Evaluation methods.............................................................................30

02.b Business Project...........................................................................................................32

02.b.2 Getting suggestions from employee..................................................................32

02.b.3 Innovation Audit...............................................................................................33

02.b.4 Proposed questionnaire.....................................................................................33

02.b.5 Implementation of Strategies............................................................................34

02.b.5.1 BCG matrix........................................................................................34

02.b.5.2 Ansoff matrix.....................................................................................36

02.b.5.3 Porter’s Generic Strategy...................................................................37

02.b.6 Roles and responsibilities of Project team........................................................39

02.b.7 Quality Management Plan.................................................................................41

02.b.8 Techniques of Project management..................................................................41

02.b.9 Communication Management Plan...................................................................43

02.b.10 Risk management committee and Risk management register.........................43

02.c Project Evaluation.....................................................................................................44

02.c.1 Cashflow for the first year (Million).................................................................44

02.c.2 Budgeted Income statements (Million).............................................................44

02.c.3 Project Appraisal...............................................................................................45

02.c.3.1 Net Present Value...............................................................................45

02.c.3.2 Payback Period...................................................................................45

02.c.3.3 Return on Investment Analysis..........................................................46

02.c.4 Research Findings.............................................................................................46

03. PART THREE....................................................................................................................55

Table 1 Budget of the project 16

DEFINING THE PROJECT

WORD COUNT: 3,097

Dinesh Anthony Angammana

3. An overview of the organization selected:

4. Specify your relationship to the organization:

5. The relevance of the chosen context (the chosen scenario):

6. Strategic Business Research Project scope and description:

Mr. Lewie Dias

8. Business case and rationale of the Strategic Business Research Project:

Total Milk Production (Liters Million)

Total Milk Production (Liters Million) Milk from Cow

Source: Department of Census and Statistics of Sri Lanka (2019)

Figure 1: Domestic Milk Production in Sri Lanka