Strayer Bus599 week 8 part 2 help

Shaunta’ R. Armstrong

BUS599 Strategic Management

Week 4 Marketing Plan

April 29, 2015

Dr. Veronica Brown-Corbin

Target market

The Body Right energy drink will target a number of individuals in the society. However, the company’s product is an energy drink that is specifically designed for athletes and other sportsmen who need a lot of energy while exercising or playing. The product targets both males and females but works best on males aged between 14-30years. Our product is also recommended for students both high school and university, who require extra energy in their course work or waking up after a night out with friends. It is especially designed for athletes and other sportsmen since it replenishes their bodies with carbohydrates and electrolytes before and after a powerful body activity (Powerbrands.us, 2015).

The Body Right energy drink is designed to operate under three stages namely Reform, Prime, and Recover. The first phase reform is meant to refuel, rehydrate, and replenish lost carbohydrates and electrolytes during a sprint or a game. It helps the body regain the energy lost therefore making the athlete able to prepare for the next day’s activity without any issues. The second phase prime, acts as a fuel for all athletes every day and is designed for use after intensive exercise to provide energy and performance fuel. The final phase of the energy drink is the recovery phase that is recommended for athletes who not actively exercising or nursing an injury (Powerbrands.us, 2015).

The Body Right company has also designed an energy drink for the rest of the population, and this will make the target demographic of this product broad and extensive due to product popularity and appeal. Reviewing the population status of the Hispanic population in California, they can build an excellent market base for the company’s product.

Hispanic population in California 2014

Competition

The company is set face stiff competition from well-established companies such as Red Bull and Monster. They are the two leading companies in the United States and also in the world in terms of energy drink production. The company will capitalize on the major weaknesses of our competitors to penetrate the market. Our product being a new entrant in the market will introduce its brand in a three in one design. That is, the product will be available in three phases for our key target customers. This will ensure that the product is available in all the phases of their activity (Powerbrands.us, 2015).

Our company has specified the type of energy drink the athlete is supposed to use before, during, and after a race or a game. Most competitors have specialized in only one product. For example, a competitor like Red Bull has only one product that is highly priced (Powerbrands.us, 2015). Our new product will venture into the California state where most people of the lower income population cannot afford to buy the highly-priced product. Our product will sell at subsidized price lower than most of the already established brands like monster and red bull. The company will utilize local resellers to distribute its brand; this will help reduce the extra commissions brought upon by middlemen and brokers. This will ensure the targeted customer gets the end product at a relatively lower price. The non-alcoholic products market is highly saturated with products of different qualities and prices, therefore a good marketing plan will help the company stand out against its competitors (Powerbrands.us, 2015). Marketing

The Company will apply various marketing vehicles to market its products. The first strategy it will apply is the product or service. The company will have its products branded with the images of world major athletes like Usain Bolt and this will bring in more athletes to purchase our product. Plans have been already been developed and contacted Mr. Bolt for his compensation for using his image on our product. The second vehicle the company will use to market its product is the price of our product. Our product will be priced at a lower rate compared to our competitors (Quinn, 2014).

This will ensure that the target population can afford to buy the product and this enable it to penetrate the non-alcoholic drinks market effectively. The company will use retail stores to distribute its products. There are plans underway to have an online shop for our products to meet the global demand for the product. Physical stores such as supermarkets in California will be a good distribution point for our products. Most people will be able to access the products easily and from a place that is central while buying other products for use in their homes (Quinn, 2014).

Promotion will be also applied to attract more customers and more athletes to buy our product. The company is planning to do road show promotions and activations with one of the star athletes in the world especially Usain Bolt. The company will also introduce the customization of our products; that is, offering clients products with their names on it this will bring a lot of sales for the company. Most customers will enjoy products that are branded with their names or names of their loved ones. The company has created a website where it will get reviews from our customers. The company will also do social media promotions using Facebook and twitter. These will create a platform where our customers will share their views (Quinn, 2014).

References

Quinn, S. (2014). 10 Tactics You Must Use in Your Content Marketing Strategy - Jeffbullas's Blog. Jeffbullas's Blog. Retrieved 28 April 2015, from <http://www.jeffbullas.com/2014/04/08/10-tactics-you-must-use-in-your-content-marketing-strategy/>

Powerbrands.us,. (2015). Energy Drink Industry Information | Beverage Experts. Retrieved 28 April 2015, from <http://www.powerbrands.us/beverage-industry/energy-drink-industry.html>