Smoov-E smoothie heath drink
For the first six (6) months your company is in business—to give you time to perfect your product and to learn from actual customers—you will start marketing and selling in your own community, a radius of twenty-five (25) miles from where you live.
For most non-alcoholic beverages, marketing (as opposed to the actual product itself) is key to success. Cola drinks, for example, are fairly undifferentiated, as are many energy drinks, juices, bottled water, and the like. Companies producing these types of beverages differentiate themselves and attract market share through marketing and brand awareness—both of which are critical to success.
Section 1: Marketing Plan & Sales Strategy (MS Word or equivalent)
( Write each question then answer)
Write a four page Marketing Plan & Sales Strategy section of your business plan, in which you:
1. Define your company’s target market.
Analyze the types of consumers who will be drinking your beverage in demographic terms (i.e., age, education level, income, gender, ethnic group, etc.). Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description). Click here for help accessing a specific page number in your eBook.
Hints: At American FactFinder (http://census.gov), you will find demographic information on potential consumers in your area. If you are selling through other businesses (such as grocery stores), indicate the number of those businesses in your local area. You will find information about such businesses in your local area at County Business Patterns (http://www.census.gov/econ/cbp/). Check Chapter 2 of Successful Business Plan for more research sources.
2. Assess your company’s market competition.
Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company’s market competition.
Defend your strategy to successfully compete against market leaders in your segment.
Hints: For example, in the soft drink market, it is intimidating to try to compete against Coke and Pepsi. Newcomers in mature markets typically must pursue niche markets or even create new market categories, as Red Bull did with energy drinks.
Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 | Market Share Distribution).
Hints: Every business faces competition and the non-alcoholic beverage market is an especially crowded market.
3. Clarify your company’s message using the information provided on the worksheet in the text (p. 160 | The Five F’s).
Hints: Before you choose your marketing vehicles, you must determine the message you want to convey through those vehicles.
4. Identify the marketing vehicles you plan to use to build your company’s brand.
Justify the key reasons why they will be effective. Provide examples of other non-alcoholic beverage companies that use these tactics effectively.
Hints: If you plan to use online marketing tactics, refer to the worksheet in the text (p.171 | Online Marketing Tactics) to aid your response. Remember that even if you’re selling through grocery stores you need to build your brand and social media is a major part of that in regard to beverages. Some of the marketing tactics that beverage companies use include: sampling in grocery stores, building a following on social media, sponsoring events, exhibiting at trade shows attended by retailers, and so on. You will use a combination of these tactics. For example, if you decide to give out samples in grocery stores, promote your sampling on your social media networks and those of the grocery store.
Hints: If you are planning to distribute through resellers, describe how you plan to reach them, for example, through industry trade shows or by establishing your own sales force. For information on trade shows, visit the Trade Show News Network (http://www.tsnn.com). You can exhibit or network at these shows.
Company's Target Market
Length: 4 pages (1283 Words)
Company Target Market
Smoov-E smoothie health drink will target smaller niche markets where the competition is low. For the first six months, the company will target consumers within the twenty five mile radius in marketing to improve the sale of the product. During this period, the company is going to study customers based on segment, positioning and target analysis. These are customers of different ages, income, gender, education level and ethnic group.
The primary target markets for Smoov-E smoothie health drink are youths who are between the ages of 10-25. This age group is versatile and need the healthy drinks for physical and mental growth. The youths are of importance because they are able to distinguish low priced health drinks with high priced drinks hence assisting our product to position itself in the market. The people between the ages of 25-45 years will form our secondary market. This is because this age group comprises of people with a taste of cheap, healthy and strong flavoured products which our company will strive to provide.
Our products are readily available to people of both the male and the female gender. According to the demographic statistics of the locality, the females account for 54% of the population while the males account for 46% of the total population (Aaker & McLoughlin, 2010). The females make the prime gender hence would be targeted more in our marketing adventures. Our products will be readily available in areas close to schools, community centres and shopping malls. The health drink’s diversity and nutrient content is suitable for all people with any form of income. Low income to high income earners can still afford to purchase our products which would be packaged into different sizes and quantities thus readily available.
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