Assignment 3 Part 1: Operation, Technology, and Management Plan

Marketing Plan

Ardeshia Hutchinson

Strayer University

Dr. Daniel Goldsmith

11/25/2017

Marketing Plan

Marketing refers to the process of communication that exists between a seller and a buyer of a certain commodity so as to initiate the purchasing process (American Marketing Association, 2017). It is the activity through which organizations take the time to communicate the information based on their products and services to the public so as to enable them to get attracted to the products. Therefore, it consists of the processes and methods used by a firm so as to ensure that they motivate customers to purchase their products. Marketing strategies refer to the best ways and techniques used by companies so that their products can have an added value which will promote their products so that they can have a larger market share when compared to their competitors (American Marketing Association, 2017). The primary objective of every single company is to make high profits which are influenced by the sales made in a particular period. Therefore, organizations always aim at providing quality and quantity information to their customers so as to improve the sales leading to the high profits. The paper comprises of the marketing plan and a sales strategy that will lead to the success of a non-alcoholic drink company.

The Refreshy company deals with the manufacturing and selling of the non-alcoholic energy drink. The company has a beverage product that they target to sale to markets both locally and internationally. However, their primary target is their local market where the company operates. The company has to ensure that their products and services are highly appreciated in the market through the continued provision of quality goods and services. However, it is necessary and paramount that the company continues to deal with healthy drinks since health is one of the important necessities in the human bodies. The provision of the healthy energy drinks will act as alternatives to all those customers in need of the healthy energy drinks that are not alcoholic. Therefore, it is necessary that the company aligns the marketing plans with the strategic business plan so as to work towards the achievement of success.

Market Segmentation

Market segmentation refers to the marketing strategy that involves dividing a huge target market into divisions of customers and businesses that are known to own mutual interest, needs, and later implementing those marketing strategies that will target the desired people (McDonald, & Dunbar, 2013). Market segments refer to the ability of the organizations to identify those customers who are attracted to their products. It includes identifying the most areas which will help the organization to increase their sales based on the people who habit those areas and their taste and preferences.

Some of the market segmentation approaches are geographic, demographic, psychographic, behavioural and cultural segmentations. Geographic segmentation requires the company to segment its operations based on nations, states, cities, regions, and postal codes. Based on the different needs in these locations, the company should be in a position to identify the best drink that can be readily accepted by the habitats of various locations. Demographic segmentation requires the company to analyse its market based on age, religion, education level, sex, and occupation. Different ages will always require consuming different drinks which require the firm to distribute the products to the different people. For instance, the Muslims rarely drink alcoholic beverages which require the company to deliver non-alcoholic drinks to the areas highly populated by the Muslims. Behavioral segmentation has been identified to differentiate people based on their usage rate, response, attitude, and knowledge. Therefore, the company should be ready to determine the different behaviors among people so as to choose the best drink that fits the people. Psychographic segmentation refers to the situation by which companies study the interests, opinions, and activities of the customers so as to identify the best product to supply.

The Refreshy drink Company should target to sell its products to the young individuals in the society since the products are energy drinks. The young individuals are always getting involved in many activities which require them to have the energy and ability to perform the various activities, duties, responsibilities assigned to them. The fact that the products of the company act as beverages, it proves that they can be used to relax the minds of the young and the middle-aged when they complete specific tasks assigned to them. The company has identified a market within 25 miles. This is a market that will readily appreciate the market and will also reduce the overhead costs of distribution of the product to other areas. The company targets to capture the market in the area and make the product the first option beverage for those in the area. This will be their primary market target. The area is also full of young people between the ages of 15 – 45 that will be ready to buy the drink once it is put on the shelves. This age group most of the time is associated with partying and attending events such as concerts and musicals where such drinks are often sold. Selling the drink to these young customers will be easy as opposed to selling to the older people.

Also, the firm can focus to sell most of the sugar-free products to the elderly and some of the ill people who have been advised by their doctors to take sugar-free products. Also, the corporation should focus on selling most of its products to those countries that are highly developed. The primary reason is so as to attract customers who are ready and willing to buy their products because they have the ability to purchase their products based on their high income. It is thus clear that if the firm supplies its products to the different market segments, it will improve the ability to succeed through an increase in sales leading to high profits.

Positioning Statement

The positioning statement refers to the expression based on how an individual product satisfies a customer want in a manner that the competitors do not (Rouse, 2017). Positioning relates to the ability to identify the market niche for a product and making sure that it is established at that location. Therefore, the firm should take the time to come up with the best statement that will prove to the customers that their products are better than those of their competitors. For instance, the positioning statement is “Refreshy promises to revitalize your physical and mental fatigue” which proves to be among the best positioning statements.

Promotion refers to the ability of the seller to provide information about the products to the customers (Queensland Government, 2016). Therefore, the company should advertise its products through the media making sure that it reaches a large number of people at the same time. The information provided should be worth enough to convince the customers that the products are of high quality leading to the attraction of a vast number of customers. Placing refers to the ability of the organization to provide the products at a location that is easier accessible by the consumers. Therefore, the company should use selective distribution, franchising, exclusive distribution, and intensive distribution so as to make sure that the customers can access the products when in need (Perreault, Cannon & McCarthy 2015).

As part of the product promotion, refresh should also invest on social media marketing. The company should use social media as means of advertisement which enables it to pass information to a large number of people from different parts. This approach should be well coordinated to ensure that they are able to sell their brand to the right crowd of online users. They should invest on social websites such as Facebook where there are millions of users who can be able to see their advert. This can be done by collaborating with other well established online companies that can be able to get the right links and resources to ensure that the online marketing campaign is successful. It is during this promotion that they can also open up containers in shops to sell their drinks.

The company should also consider putting up banners and posters in the streets. This will ensure that the locals are able to see and identify the product. They can also host road shows and offer the drinks on promotion to the locals. This will ensure that a section of the market can have a taste of the new drink in the town. Such promotions will ensure that the locals can taste and give necessary feedback to the company. They can use this feedback to improve on the product and also improve their service delivery. It is during the promotional shows that they can give out branded t-shirts, calendars and caps that can be used to further promote the drink to the locals.

Success Metrics

The Refreshy Company is responsible for coming up with various success metrics that will result in its success. The first metric is that the firm should maintain stability which refers to the ability to maintain its status quo. The company should be ready and willing to take low risks, stabilize and make sure that it achieves change management. Also, the company should be able to provide a product that will portray uniqueness. The ability to achieve unique products will enable it to charge a certain price for its products leading to success. The company should make sure that it continues to offer unique products to the society enabling it to gain a competitive advantage. It will thus be easier to charge a premium for the different taste and blend associated with the products offered.

The third success metric is that the company should focus on achieving market leadership. Market leadership will enable the Refresh Company to dominate in the industry and gain a substantial market share. It should be able to establish an innovative, friendly organization enabling it to come up with new products and models in the market. Moreover, the firm should work towards maintaining customers’ satisfaction through quality services and products.

It is clear that the marketing plan is reliable and valid in that it will continually lead to the success of the organization. The marketing plan will ensure that the organization supplies goods to the willing buyers and those areas that do not have access to the products. Also, the fact that the price will be affordable will ensure that a large number of customers are motivated to purchase the products. High-quality goods will also attract most of the customers ensuring that it stands out to be the best in the market. Therefore, it is no doubt that the marketing plan will only result in benefits and increased success to the Refreshy Company.

References

American Marketing Association. (2017, November 15). Retrieved from American Marketing Association: https://www.ama.org/resources/pages/dictionary.aspx?dLetter=M

Bodner, B. (2016). Company Analysis of Red Bull. Munich: GRIN Verlag.

Kotabe, M. & Helsen, K. (2014). Global marketing management. Hoboken, NJ: Wiley.

McDonald, M. & Dunbar, I. (2013). Market segmentation how to do it, how to profit from it. Chichester: John Wiley & Sons.

Perreault, W., Jr., Cannon, J., & McCarthy, J. (2015). Essentials of marketing: A marketing strategy planning approach (14th ed.). New York, NY: McGraw-Hill.

Queensland Government. (2016, June 21). Retrieved from Business Queensland: https://www.business.qld.gov.au/running-business/marketing-sales/marketing-promotion/marketing-basics/promotional-activities

Richter, T. (2012). International marketing mix management theoretical framework, contingency factors and empirical findings from world-markets. Berlin: Logos-Verl.

Rouse, M. (2017, June 13). TechTarget. Retrieved from http://whatis.techtarget.com/definition/positioning-statement