FOR REY WRITER

Marketing Plan

Vernette Nathan

Strayer University

BUS 599

Dr. Sandra Bryant

18 November 2015

Marketing Plan

Target market

I am targeting business as well as individual with my beverage product which I have rolled out in the market. Research shows that most of the consumers taking non-alcoholic drinks fall within the brackets of 16 to 25 years of age. My primary target will be young people both female and males because of their high consumption rates that enhances the viability of my sales forecasts. In the light of competition in my area, I have evaluated the suitability of my business venture and discovered there is an existing gap to introduce new beverage. Most of the drinks available in major stores are convectional drinks such as coca cola and Pepsi which creates for newer products. Young people are inquisitive and in most often than not they change their loyalty from brand in case it seizes being fashionable or an appealing product is produced in the market. I plan to introduce a variety of flavors that will give the young people both the dynamism and flexibility they need while purchase my beverage drink.

Consumer Demographics

The types of consumers that will be targeted by products will include young people between the age of 11 and 25. Arguably, this is because of their immense need for energy giving drinks. The education level of these consumers will range between high school and college students. On the other hand, the income level of these consumers will be between $100 and $10, 000. However, it is important to note that the gender will be mixed as the drinks will target both males and females. My business is located in the heart of Chesapeake, Virginia which according 2010 census it had a population of 222,209 and today it is estimated to 232,977 according to US Census department.

Company’s Demographics/Market Competition

Beverage market is characterized by huge companies such as Coca Cola and Pepsi which have numerous numbers of differentiated products with considerable market share. Furthermore, these companies have a national and international coverage (p. 107). The secret of my survival lies exclusively in differentiation of my products to arm against cut throat competition in the beverage market. Most of the forms of advertising adopted by large beverage companies have been based on large promotional campaigns as well as advertisement in television and other forms of mass media due to huge resource muscles.

Marketing Message

My aim is to create a relational beverage which young people can identify. I aim at portraying my beverage as part of the lifestyle of the consumers. The brand and the value will be conveniently interlinked so as to grow royalty upon which the business can win new clients as well as maintaining existing ones. My marketing aims at attempting to satisfy the individual rather than simply his thirst (p. 160). My business is anchored on providing value to the consumers that is being a battle of beverage. It is often agreed that if a man’s heart is won over, it means that other areas of his life can be conquered. For this reason my aim is to rally the young people behind my beverage the same way other brands have been transmitted to the culture of the young people such as the pop industry that has captured millions of young people through portraying itself as a culture rather than products.

Marketing Strategies

I have evaluated a mix options which together result to incredible business success. One of my strategies is referred as infomercial which is a type of television commercial that allocates more time to discuss in detail and sample products over a period of time. One of the obvious advantages is that it mops out any possible prejudice in the market regarding my products. It also informs the customers in depth knowledge about my beverage price, composition, selling points and appearance.

On the other hand, the commissioned research aimed at assessing the needs and expectation of my target group in addition to their unique attributes. As I present my products to them, I will attempt to match their needs with the solutions offered by my beverage in the most suitable way.

On the other hand in order to capture the young people as a segment I have initialized mechanisms of issuing free test drinks to groups of young people as opposed to individual so as to draw the segment rather than scattered people. Coco Cola has been known to sponsor large sporting activities which bring a lot of people together such as in key football tournaments such as the world cup. Due to the nature of my target market, I will use both the social media and other forms of online marketing so as to capture more the technologically savvy young people.

In doing this I will package my message through clips that can be shared freely on social media alongside appealing images that create value to my target market. In addition I will sponsor small music fests and other events in local university and colleges to raise awareness for my brand. By regularly engaging my target audience I will be ensuring that I keep pace with their current new trends in the target group in order to remain vibrant and persuasive. In addition I will seek to foster partnership with food cafes frequented by young people whereby my beverage can been packed with meals at a relatively cheaper cost thereby increasing my brand’s reputation.

On the other hand, the different factors that influence the choice products will consistently be addressed by my business which will entail keener focus on the available opportunities for diversification as well as forging further partnership with other beverage companies for mutual benefits. My company will engage stakeholders of different sectors that concerns the youth as part of my strategy of involving them in the day to day running of business which will encourage making further purchases from my business.

The business provides us with an opportunity to establish a huge internet marketing arm which has potential for growth and diversification. The fast growth of the online businesses and stiff competition by established businesses. Online business is versatile and we may experience whooping number of new clients which might be challenging to handle and potentially leading to crashing of our site. We intend to create a site that can handle large number of users and also conduct close monitoring of the platform, upgrading it when necessary without delays. We will hire sale agents to approach potential clients to counter stiff competition by our competitors.

Planned promotion /advertising type	Expected business improvement	Cost ($)	Target date
Social media campaign	Social media will be give us a greater visibility and connect us to potential businesses on social media.	[$] 15,000 every month	[Month/Year] Oct-Dec/2015
On site advertisement	We will use our site as the primary way of marketing our business to potential clients. With the growth of the business we will be advertising our serves on other websites.	[$] Cost covered by our site.	[Month/Year] Oct-Dec/2015
Giveaway media	The free beverages will be distributed to the public part of whom shall be our potential clients which will serve as an advertising mechanism for our business. It will give us a chance to get new clients for the beverage business.	[$] Cost covered by production unit	[Month/Year] Oct-Dec/2015
Promotion	The free beverages will be sent to our potential clients to encourage them to adopt what other businesses are involved in as part of the ways of pursuing them to form partnership with us	[$] 5,000 every month	[Month/Year] Oct-Dec/2015

References

Abrams, R. (2014). Successful Business Plan: Secrets & Strategies (6th ed.). Palo Alto, CA: Planning Shop