"The Financials" Please respond to the following:

Running Head: MARKETING PLAN

MARKETING PLAN

Marketing Plan

Muhammet Fatih Erdogmus

Dr. Joaquin M Angles

BUS 599 Strategic Management

May 14, 2018

Marketing plan & Sales Strategy

The target of my company will be college kids, this is because they are the easiest market to access and they normally have the ability to purchase. Most college kids need consume non-alcoholic beverages when they are carrying out their leisure activities. This is a ready market that will only need to be introduced to the product. Most college kids have regular meetings that they often need some refreshment, with this knowledge of them meeting on various occasions and also celebrating every time then it will be a good and reliable market for the business.

The target consumer group as defined earlier will be college kids, their age group will be about from 16-20 years of age. The market will not be limited by gender, in that it sets to target both genders that is male and female. This is to ensure that the company is able to tap into the bigger market. College kids do not often have a stable income, although they can be able to get some little cash from their parents and doing small jobs that will give them some small income for them to handle their daily affairs. From this they can be able to set aside some little cash for them to entertain themselves (Harry, 2014). From this fact, it will be good to have a pocket friendly non-alcoholic beverage that will suit their situation. This is to mean that regardless of them not having a job they will be able to afford the beverage on most occasions.

The demographic information of my market will be important this will not only help me to understand my target customer and gives me a critical success of my business. To understand the demographic profile of the customers will be important since it will help me as a business person to be able to settle for the modes of production, this will help the business to sustain itself. The demographic information will include:

1. Purchasing power, this deals with the degree in which the disposal of the income of the community. The purchasing power of my neighborhood is good since the median household income is $50,434 (United States Census Data, 2018). This is to mean that selling the non-alcoholic for sixty cents will be comfortable for the consumers since they will be able to purchase it. On the other hand, the poverty rate is at 21.7 %, this means that majority of the people living in Illinois have the purchasing power.

2. Residences, most of the homes in my neighborhood are rented, this therefore gives the people somehow a purchasing power since every month they are sure that they are bound to spend and therefore there is a supplementary budget. This is the most targeted segments because they do little purchase and price usually matters to them. They will be able to purchase their products in small amounts. This therefore makes the product of the company eligible to them because they will be able to have an affordable product to them (American community survey, 2016). The total housing units within Illinois is 1, 194, 098.

3. Age ranges, the age range of my neighborhood consist of young people who are not yet too employed. This provides a wide market that will be sustainable for a long period of time, although some are dependent. The age range is 53 % are the young, 37 Middle aged and 10 % the aging population. This implies that the company will have a good market to rich out to.

4. Leisure activity, the hobbies of people in my neighborhood is that youngest people love sitting together and telling stories to one another, this enables them to bound and create long lasting memories.

5. Levels of education, it has been found out that 83.1% of the people who Illinois have the ability of being a high school graduate or higher levels of education. This means that the company will have a broad market basing it on the target group that it has. This is according to the data provided by the United States census data, the data is placed at 83.1%.

The company’s market competition will be stiff, this is because they will continuously face competition from well established companies like Coca-Cola which has sufficient funds that will enable it to conduct vigorous marketing that will enable it to tap to new market and also solidify dominance in certain market segments. The most successful marketing strategy that the company will employ will be guerilla marketing. This is where some sort of propaganda that will enable the company to create curiosity to the consumers and they will be so eager to have a feel of the commodity (Esther, 2010). The plan for the company is that it a newer taste that has never existed before unlike Coca Cola has been here for ages, the product of the company will be more of a healthy drink that will boost the mental health of the drinkers. This strategy will be sufficient in the sense that it will be effective to the company because, the creation of suspense will make the consumer to know more about the product. This will help the product to have a wider market scope since everyone will want to know about the product.

The company will also be able to run road show campaigns that will enable it to be able to reach to a wide market as possible. The importance or road show is that it will enable the company to bond with its prospective consumers and therefore they will create a personal touch. The this is a good form of marketing because the company will be engaging with the consumer on personal touch. The company will be able to get the needs and desires of the consumers and thus the product will be made with a personal touch.

Another marketing strategy that will be celebrity endorsements, since most young members of the society have idols and celebrity that they adore. It will be good to have endorsements from celebrities who enjoy a national appeal. This will help the company to be able to get reach of most of the consumers who love a certain celebrity. This will help the company to make good sales and also be able to compete effectively. Celebrity endorsement will not only boosts sales but it will also improve market awareness.

The company in achieving its goal it will focus on online marketing that will ensure that the company will be able to reach wide market as much as possible. This will ensure that the target group is accessed as soon as possible. Since social media is where most of the young age spends most of their time and come up with arrangements, this will ensure that the company reaches to the desired market. The growth of social media as a tool for marketing will not be undermined and thus it will be used to reach out to potential consumers. This will be able to provide the company with some sought of competitive advantage.

References

American community survey. (2016, March 15). Retrieved from https://www.census.gov/programs-surveys/acs/?intcmp=serp

Esther, C. (2010). Guerilla marketing by small companies. Harvard Business Review.

Harry, S. (2014). Marketing . New York: Norton & Company.

United States Census Data. (2018, May 14). Retrieved from https://www.census.gov/search-results.html?q=chicago&page=1&stateGeo=none&searchtype=web&cssp=SERP