Marketing 8-A-1
Naldo
MarketingPlan-REVIEW2.pptxBoosta Healthy Drinks marketing plan
1
Table of Content
Executive Summary
Marketing mission statement
Slogans
Unique features or proprietary aspects of Product
Goals and objectives
SWOT Analysis.
PESTEL Analysis
Target Market.
Value proposition
Marketing Mix
Implementation
Executive summary
Company goals and objectives are very clear which is mainly about offering healthy drinks.
It also cares about going green and apply sustainability practices throughout operations and manufacturing to protect the environment.
Boosta’s segmentations are Psychographic, demographic and benefit segmentation where they focus on the lifestyle of their customers which is a healthy lifestyle. Also, the benefits the product offers to have better health. But also, anyone can use Boosta drinks as it is healthy, and anyone can get it.
SWOT analysis is conducted to understand initially strengths, weakness, opportunities, threats.
PESTEL analysis also is done although it is still a start-up company at the introduction phase this analysis is done to have the foundation for later on and to have a clear picture of the status quo.
Marketing Mix also to understand how 4Ps impact marketing plan.
Social media platforms are analyzed to expand reach to more customers and to reach all customers through their favorite platform based on their age category.
Marketing Mission Statement
Boosta, aims to provide a healthy energy drink made from organic vegetables and fruits, providing consumers with their daily intake of multivitamins as well as helping boost their energy.
Slogan: Boosta boosts your energy, Immunity and your health.
Market Analysis
The global health drinks market size was valued at USD 478.10 billion in 2019 and is anticipated to expand at a CAGR of 6.06% in terms of value during the forecast period.
It is Found that 59% of consumers in North America purchase products that help save them time and effort.
Millennials are leading the charge by making health-promoting diet and lifestyle choices a priority, as recent studies indicate.
Market segmentations to focus on: Demographic, Psychographic, Benefits.
The U.S. is the largest health drink consuming nation as it holds more than 65% market share of the North America sports nutrition market and approximately 20% market share of the global health drinks market.
The factors such as rising health consciousness along with changing lifestyle with fast-paced living in the U.S., Canada, and Mexico is expected to boost the growth of North America health drinks market over the period 2020 to 2026.
Unique features or proprietary aspects of Product
Boosta Energy drink is different because of its manufacturing process where sustainability practices are applied throughout the entire process to protect the environment. Also, Boosta is an immunity booster drink where anyone can drink to have better immunity and a higher level of energy. Boosta's supply chain process is very well managed and controlled to deliver the product to the customer on time without any delays. Further explanation, for the process starts with getting raw materials from suppliers and it is a manufacturing to stock (MTS) environment where the company manufacture a fixed number of SKUs based on forecasting to avoid any excess inventory. Secondly, comes the production process starts after getting raw materials. After this logistics and delivery to the final customer.
The multi direct channel is applied at Boosta where they are dealing with suppliers to get raw materials after this manufacturer and then delivery to retailer/ Final customer.
SWOT Analysis.
Strength: This is the competitive advantage of producing organic products that are good for health.
Weakness: it is still a startup company it is not well placed in the market.
Opportunities: Chance to expand and be different healthy products in the market.
Threats: Competitors who control the market and have high sales volume.
PESTEL Analysis
Political: shows government and law enforcement agencies exert an influence on Boosta’s infrastructure. Factors such as copyright issues, tax payment, and other safety rules and regulations play an important role in any business’ growth and prosperity.
Economic: The basic economic factors that have a powerful impact on business from the outside include credit availability, inflation rates, and this affects the company's ability to survive.
Social: emphasizes how culture affects business and whether they enforce a positive or negative impact on certain businesses. Population growth rate, religious and ethical behavior, marketing trends, and educational awareness schemes.
Technological: Latest trends will directly impact company growth. But the responsible team will work on utilizing all tools for better operations at Boosta internally and externally.
Legal: Following all laws such as employment law, health and safety law, consumer law these all to be applied to ensure legal guidelines are followed
Environmental: Boosta cares about being environmentally friendly by applying sustainability throughout the manufacturing process.
Target Market
Age: Between 12-50 years.
Socio-Economic class: Middle Class.
Lifestyle: Healthy lifestyle ( Customers pay attention to their daily food routine and they intend on having healthy drinks)
psychographic profile: Customers have high education as they are aware of importance of health, and they are applying this to their lifestyle, and this also impact their motivations and attitudes.
Value proposition: The value offered to customers through offering healthy drink that helps to have better immunity and health moreover higher energy levels and all using organic vegetables and fruits.
Market segmentation
Competitors will be mainly all local brands who offer healthy drinks to grocery markets, Clubs, Gyms, Colleges.
Examples: Kin, Wandering bear, Pure leaf, Simply nature, Blueprint, V8.
Demographic segmentation: Age focus between 12-50.
Psychographic segmentation: Lifestyle, motivations, attitudes as previously mentioned.
Benefits segmentation: focus on benefits boosta drinks offer of having better immunity and health.
Marketing Mix (4ps)
Product: There will be five flavors for drinks all made out of vegetables and fruits.
Main Ingredients: Bananas, Apples, Spinach, Kale, Berries, Mangos, Peanut butter, Almond butter, Lemons, Milk and non-diary milk, Honey.
Packaging: Transparent bottles and there will be only one size (16 fl.oz).
This picture is example of how it will look like.
Marketing Mix (4ps)
Price: Average prices of healthy dinks between 4-8 dollars.
Boosta drinks will be for five dollars to ensure quality of ingredients and Packaging used.
Place: It will be available at different retailers such as : Target, CVs, Walgreens, Amazon, Star, Stop & shop.
It will be available at clubs and gyms and colleges.
There will be website where customers can shop online directly, and it will be delivered within 2 days.
Marketing Mix (4ps)
Promotion: It is still start-up project so the main focus to reach customers directly.
The marketing team will go to different retailers , gyms, colleges. They will talk with responsible teams at colleges and gyms especially and ask for permission to advertise their product. It will be like booths on-campus.
They will start with offering free samples for customers to try.
Second focus will be social media platforms: This due to limited budget can be done by asking people to share the posts it is like word-of-mouth advertising.
Implementation
First, will search for suppliers to know price for raw materials and lead time.
Second, manufacturing and production to be aligned with supply chain process and following lead time and budget.
Third, Marketing and advertising will start as teasers to introduce the product and motivate the customers to try drinks.
Fourth, Feedback from customers is really important to work on what needs to be improved and be able to compete in the market.
As previously mentioned, healthy drinks represent 60% of the market in north America, Boosta will focus to reach customer too be familiar, but percentage will be very small at beginning as it is still start-up and budget is limited.
References
(Berry.D).(2013).(food business review).https://www.foodbusinessnews.net/articles/2665-on-the-cusp-of-a-healthy-beverage-boom#:~:text=Speaker%20Jeff%20Hilton%2C%20partner%20and,appeal%20to%20all%20three%20demographics.
(Bruno.A).(2018).(Self).https://www.self.com/gallery/refreshing-drinks-all-day-hydration
(2020).(Reporter linker)>https://www.prnewswire.com/news-releases/global-health-drinks-market-consumer-behavior-analysis-by-countries-buying-pattern-analysis-demographics-trends-analysis-survey-findings-and-results-leading-companies-and-their-market-strategies-301090145.html
