A marketing plan and sales strategy

Assignment Help Marketing Management
Reference no: EM131150192

This assignment consists of two (2) sections:

a marketing plan and sales strategy,

and a marketing budget.

Note:  Must submit both sections as separate files for the completion of this assignment.

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 the three to five (3-5) 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 (https://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 (https://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 (https://www.tsnn.com). You can exhibit or network at these shows.

5.) Format your assignment according to these formatting requirements:

a. Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.

b. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.

c. Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length.

Section 2: Marketing Budget (MS Excel worksheets template)
Section 2 uses the "Business Plan Financials" MS Excel template (see: Course Required Files in Week 1). Use the "Business Plan Financials Guide" (see: Course Required Files in Week 1) to support your development of the Marketing Budget.

6.) Complete the Marketing Budget worksheet for your company.

1. Hints: The goal of the marketing budget is to help you determine how much it will cost you to reach your market and achieve your sales goals.

2. Hints: When filling out the "Marketing Budget" worksheet in the Excel spreadsheet:

• Begin in the current year and complete a marketing budget for the first year of your business. The information you enter in the marketing budget spreadsheet will flow through to your "Income Statement" in the Business Plan Financials.

• Leave the number at zero (0) for any marketing vehicles you do not intend to use.

• Remember that all marketing activities involve costs. If social media represents a significant portion of your marketing, assume you will have cost of advertising and that should be reflected on your budget. Even if a social media site charges nothing to use it, you will need to use company resources to manage the site, pay someone to execute your social media marketing campaigns, and will most likely pay for ads on that site.

• Do NOT leave the "Marketing Budget" blank, assuming you will not have any marketing costs.

 

Attachment:- Business-Plan-Financials-Guide-Assignment-2.rar

Attachment:- PlanningShop-BizPlanFin.rar

Reference no: EM131150192

Questions Cloud

Find an expression for rate of heat loss as a function : find an expression for rate of heat loss as a function of the other three parameters in the problem. (b) If the temperature difference ? T doubles, by what factor does the rate of heat loss increase?
Rewrite this relationship in dimensionless form : The period of oscillation T of a water surface wave is assumed to be a function of density , wavelength λ depth , gravity g, and surface tension γ Rewrite this relationship in dimensionless form. What results is γ s negligible?
Explain how the given article relates to the course : Explain how the article relates to this course. Identify which biological concepts from the course and / or text are relevant to the topic covered in the article
How does the volume flow change if the pore size b is double : Using the pi theorem, rewrite this relation in dimensionless form. How does the volume flow change if the pore size b is doubled?
A marketing plan and sales strategy : Write the Marketing Plan & Sales Strategy section of your business plan, in which you:- Define your company's target market.-Assess your company's market competition.
How fast would it oscillate on mars : If you disturb a tank of length L and water depth h, the surface will oscillate back and forth at frequency Ω, assumed here to depend also upon water density and the acceleration of gravity g.
What type of rna carries the amino acids : What type of RNA carries the amino acids? Are the amounts of a particular DNA base the same or different among different species? What are the four bases of RNA? What is the difference between therapeutic and reproductive cloning?
What will be the frequency of vortices shed from cylinder : What will be the frequency of vortices shed from the cylinder? Use Figs. 5.2 and 5.3.
Calculated each project payback period : Calculated each project's payback period and came to the correct conclusions, Calculated the NPV for each project and came to the correct conclusions. Calculated the IRR for each project and came to the correct conclusions

Reviews

Write a Review

Marketing Management Questions & Answers

  Change is considered by many as the new normal effective

change is considered by many as the new normal. effective change management must be part of an organizationrsquos dna.

  Analyze how this event will affect international market

Select on the basis of Wall Street Journal (Or any other public news source) one event, which has in students' opinion the most influential in last week for global financial markets, Analyze how this event will affect international financial market..

  Product mix for the local market

Analyse and describe Thong Siek Food Industry's product mix for the local market in terms of width, length, depth and consistency.

  Working to develop a coherent link of argument

While your report presented information on this topic, your research essay must explore this issue in greater detail, working to develop a coherent link of argument or discussion in a compelling essay founded upon a clear thesis.

  Explain the reasoning behind your answers and support your

read the mini case from the end of about caledonia products and thoroughly respond to parts a to n at the end of the

  What are your thoughts regarding the pursuit

As CEO of your company, what are your thoughts regarding the pursuit of a localization strategy and As CEO of a company in a mature industry what are your thoughts as to strategies to deter entry of new competitors

  Difference between applied research and pure research

What is the difference between applied research and basic or pure research? Use a decision about how a salesperson is to be paid, by commission or salary, and describe the question that would guide applied research versus the question that would g..

  How can an acceptable use policy help to mitigate the risks

What measures do you think can be taken to reduce these risks that you have identified? How can an acceptable use policy help to mitigate the risks

  Explain why target is revamping its grocery aisles

Summarize the article and In your own words, explain why target is revamping its grocery aisles

  How do the artworks from that culture reflect

focus your attention on one of the following time periods and cultures: Prehistory, Egypt, Crete, or Rome. How do the artworks from that culture reflect that society's thoughts on women's roles in their specific community

  Analyze the opportunites for teva

Analyze the opportunites for Teva in innovative pharmaceutical and biosimilars

  Is marissa mayer ceo of yahoo and a leader

What are some leadership styles that you have observed at your workplace? Which do you hope to emulate?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd