Business

Answer all questions completely

No Plagiarism

Cite all resources used and use in-text citations

Assignment 2: Marketing Plan

For the first six (6) months your company is in business—to give you time to perfect your product and to learn from actual customers—you will start marketing and selling in your own community, a radius of twenty-five (25) miles from Greenville, SC.

For most non-alcoholic beverages, marketing (as opposed to the actual product itself) is key to success. Cola drinks, for example, are fairly undifferentiated, as are many energy drinks, juices, bottled water, and the like. Companies producing these types of beverages differentiate themselves and attract market share through marketing and brand awareness—both of which are critical to success.

Section 1: Marketing Plan & Sales Strategy (MS Word)

Write the three to five (3-5) page Marketing Plan & Sales Strategy section of your business plan, in which you:

1. Define your Juice company’s target market.

a. Analyze the types of consumers who will be drinking your juice in demographic terms (i.e., age, education level, income, gender, ethnic group, etc.). Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).

b. Outline the demographic information for your juice company specified on the worksheet in the course text ( | Demographic Description-screenshot below ).

· Hints: At American FactFinder ( http://census.gov ), you will find demographic information on potential consumers in your area. If you are selling through other businesses (such as grocery stores), indicate the number of those businesses in your local area. You will find information about such businesses in your local area at County Business Patterns ( https://www.census.gov/programs-surveys/cbp.html ).

2. Assess your company’s market competition. Juice Market

a. Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company’s market competition.

b. Defend your strategy to successfully compete against market leaders in your segment.

· Hints: For example, in the soft drink market, it is intimidating to try to compete against Coke and Pepsi. Newcomers in mature markets typically must pursue niche markets or even create new market categories, as Red Bull did with energy drinks.

c. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text ( | Market Share Distribution-screenshot below ).

d.

· Hints: Every business faces competition and the non-alcoholic beverage market is an especially crowded market.

3. Clarify your company’s message using the information provided on the worksheet in the text ( |  The Five F’s- screenshot below ).

1.    Functions. How does the product or service meet their concrete needs?

2.    Finances. How will the purchase affect their overall financial situation — not just the price of the product or service, but other savings and increased productivity?

3.    Freedom. How convenient is it to purchase and use the product or service? How will they gain more time and less worry in other aspects of their lives?

4.    Feelings. How does the product or service make customers feel about themselves, and how does it affect and relate to their self-image? Do they like and respect the salesperson and the company?

5.    Future. How will they deal with the product or service and company over time? Will support and service be available? How will the product or service affect their lives in the coming years, and will they have an increased sense of security about the future?

· Hints: Before you choose your marketing vehicles, you must determine the message you want to convey through those vehicles.

4. Identify the marketing vehicles you plan to use to build your company’s brand. Justify the key reasons why they will be effective. Provide examples of other non-alcoholic beverage companies that use these tactics effectively.

·

· Hints: If you plan to use online marketing tactics, refer to the worksheet in the text ( | Online Marketing Tactics-screenshot below ) to aid your response. Remember that even if you’re selling through grocery stores you need to build your brand and social media is a major part of that in regard to beverages. Some of the marketing tactics that beverage companies use include: sampling in grocery stores, building a following on social media, sponsoring events, exhibiting at trade shows attended by retailers, and so on. You will use a combination of these tactics. For example, if you decide to give out samples in grocery stores, promote your sampling on your social media networks and those of the grocery store.

·

· Hints: If you are planning to distribute through resellers, describe how you plan to reach them, for example, through industry trade shows or by establishing your own sales force. For information on trade shows, visit the Trade Show News Network ( http://www.tsnn.com ). You can exhibit or network at these shows.

5. Format your assignment according to these formatting requirements:

a. Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.

b. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.

c. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.