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Assignment 2: Marketing Plan

Candace Harris

Strayer University

BUS599

Prof. Andrea Banto

Feb 13, 2016

Juicy Hair is located in the heart of Kennesaw, GA. approximately 15-20 miles from the city of Atlanta. Kennesaw is a medium-sized city located in the state of Georgia. With a population of 32,400 people and 12 constituent neighborhoods, Kennesaw is the 28th largest community in Georgia. Kennesaw is a decidedly white-collar city, with fully 85.75% of the workforce employed in white-collar jobs, well above the national average. Kennesaw is an extremely ethnically diverse city. The people who call Kennesaw home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Kennesaw residents report their race to be White, followed by Black or African-American. Kennesaw also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 11.30% of the city’s residents. Important ancestries of people in Kennesaw include Irish, German, English and Italian. In addition, Kennesaw has many people living here who were born outside of the US (16.20%). The most common language spoken in Kennesaw is English. Some people also speak Spanish. The population of Kennesaw is very well educated relative to most cities and towns in the nation, where the average community has 21.84% of its adult population holding a 4-year degree or higher: 36.64% of adults in Kennesaw have a bachelor's degree or even advanced degree. The per capita income in Kennesaw in 2010 was $29,427, which is wealthy relative to Georgia, and upper middle income relative to the rest of the US. This equates to an annual income of $117,708 for a family of four. However, Kennesaw contains both very wealthy and poor people as well. Kennesaw, GA is home to one of the largest and continued growing college in the South. Kennesaw State University. Kennesaw State is the third-largest university in Georgia, which attracts a lot of attention. Kennesaw State University (KSU) is located in the city of Kennesaw, which is part of the Atlanta metro area. The institution is a member of the University System of Georgia and the third largest university in the state. Founded as a junior college in 1963, the college became a 4-year school in 1978 and received university status in 1996. Today, the university awards bachelors and master’s degrees. It is accredited by the Southern Association of Colleges and Schools. KSU focuses on teaching and learning, offers a general education program is committed to public service, scholarly and creative work, and applied research. The 384-acre campus is home roughly 25,000 students. Select classes are also held at Dalton State College and Appalachian Technical College as well as the Cobb Galleria Centre.

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The assessment of the expected competition in any industry during a new firm’s entry into the industry is one of the pillars that the future success can be based upon. This one of the most important steps that the Juicy Hair Inc. has decided to engage in, trying to boost their probability of success in the non-alcoholic beverages industry. The tough competition will be expected from firms that sell the same types of beverages that are advertised as refreshing and healthy drinks. The toughest competition will be from Coca Cola, which has hold of a big percentage of the American market alongside Pepsi (Ferrell, 2012). The other firm that will compete for the same segment of the market includes the sellers of energy drinks such as Red Bull. These companies advertise their drinks in the same manner that our company will expect the consumers to view our products. However, our company secret ingredient for boosting hair growth is to give our products an edge in the markets.

Our juice today is a trending product because it contains the essential vitamins needed to promote healthy habits and grows hair. Juicy Hair is used as a detoxing avenue, workout regimen, and thirst quencher. It is also tasteful outside of water. Juicy Hair has become an additional route to enhancing the blood flow and creating an environment for nutrients to reach their potential target areas of the body in a quicker way for consumers. The major differentiation that we will wish to convey to our esteemed customers. The company expects to use different advertisement techniques that are considered effective in relation to the penetration of a new product in the non-alcoholic beverages market.

The best scenario of an effective marketing vehicle is with grocery stores and supermarkets that would stock their shelves with our products. Approaching these retailers would be done at retailer’s trade shows and direct approach to the owners of these shops (baker, 2014). The ability to use this marketing vehicle effectively could be done through the offer of discounted wholesale price to the retailers. This can be done for a few months until the new company feels their presence has been felt in the market. Companies such as Coca Cola have effectively used this strategy to account for a greater percentage of their sales volume.

Since our products targets those consumers with hair growth problems, the company could partner with hospitals to correlate with their doctors to advice patients with hair problems to try our products. This is very ingenious and would create a perception of healthy drinks that are prescribed by doctors.

References

Baker, M. J. (2014). Marketing strategy and management. Palgrave Macmillan.

Ferrell, O. C., & Hartline, M. (2012). Marketing strategy, text and cases. Cengage Learning.

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