Module 03 Course Project - The Marketing Mix: Legal and Regulatory Issues

Marketing Plan

Marketing Strategy

Target Market

We have selected children ages 7-13 as our target market. We believe they will be the perfect target

market because they are sure to beg their parents for our product. We also feel that kids this age are

likely to spend a lot of time on the internet (since they are digital natives), which means it will be easy

for us to reach them with our marketing campaign.

Positioning

To kids who want to be the smartest kid in the class, our Smart Kids Multivitamin is the only vitamin

that increases brainpower, while at the same time delivering a tangy, fruity flavor. They’re so good,

you’ll have to be careful not to take more than one per day!

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Product Strategy

• Our strategy is clear: Research shows that, if we maximize the sugar content of our kids multi-vitamins, kids are less likely to complain about the flavor, and are more likely to sneak extra vitamins when their parents aren’t looking (which will be great for sales!)

sales.

• We also need to produce the product at that lowest cost, so we will source the lowest cost ingredients, even if it means skimping a little bit on quality. We also won’t conduct any consumer testing or safety testing, because all of that research will just drive up our costs.

Pricing Strategy

• We’ve decided to charge a different price to retailers based on the first letter in the name of their store. Retailers with names that start with A-G will pay $6.00 per bottle, retailers with names that start with H-P will pay $6.50 per bottle, and retailers with names starting

with Q-Z will pay $7.00 per bottle.

• The suggested retail price is $7.99 per 100-count bottle. We will produce random 90-count per bottle production runs in to further cut costs. Who counts vitamins anyway?

Place (Distribution) Strategy

• We have an amazing plan for distributing our products which includes vending machines in schools (so kids can get a brain boost right when they need it), and booths at major competitive events like spelling bees, math competitions and other high pressure, high

stakes academic competitions.

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• In order for a retailer to get our product, we will require them to place it at the eye level of our target market, kind of like they do cereal boxes.

Promotion Strategy

• We have a robust integrated marketing communications campaign that includes targeted emails, social media posts and digital advertisements that will reach our target market. We want to stay top-of-mind so kids will beg their parents for our vitamins.

• We also acquired a list of phone numbers of all of the parents who have children competing in the upcoming international science bowl. Since parents are the ultimate

decision-makers, we are going to target them with telemarketing phone calls on a daily basis between now and the competition.