Assignment StepsComplete the second half of your marketing plan for a new product or service that is not currently on the market in 1,400 words. The marketing strategy including product development, p

Marketing Plan

Patrick Stevens

University of Phoenix

BUS 502/ The External Factors That Impact Business

18 March 2019

Mrs. Margaret Mc Askill

Table of Content

1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Executive summary

2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Description of the Product

3 . . . . . . . . . . . . . . . . . . . . . . . . Environmental Scan and Competitive Analysis

4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Targeted audience

5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Positioning Statement

6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Conclusion

Executive Summary

A good number of goods and services are in a plan but not yet in the market due to a number of reasons most of them being lack of capital. In the same regard, there are some very brilliant personnel with great business ideas but they in most occasions lack the support and the resources to implement their various plans. The product that I would wish to talk about in this regard is a non-alcoholic beverage drink which is already being planned for but has not yet reached the market. A lot of strategies have been put for the business which in my understanding will lead to the success of the business. The company has already considered the rate of competition within the specific market (McDONALD 2016). The company has in very deep scrutiny considered the influence of the company within the local market and if there were any chances of improving to exporting the products and also how much it can cost selling the product internationally.

Description of the Product

The product’s name is the sweet super drink which is a non-alcoholic beverage which is chemical free and is very rich in nutrients. Based on research the founder of this company thought about the dangers that different people had to undergo as a result of the current chemically oriented beverage drinks and decided to come up with a drink that would be health-friendly irrespective of the age bracket. The drink contains common blended fruits such as apples, mangoes and oranges among other mixed up with pure honey and some other brands will be mixed up with milk. All the ingredients in the product tend to favor the health of every consumer and that makes up all its uniqueness (Armstrong et al 2015). The products will come in different brands and the most important thing is that they will be very affordable meaning every individual regardless of the social class will be able to afford the drink.

The brands of the drink are made on the basis of the different preference of the customers and with a very deep consideration of their health. For instance, there will be; apple sweet, berry sweet and mango sweet among other brands where brands such as mango sweet will contain very less sugar content and instead use the sweet content produced by the fruit. The drink also acts as an energizer since some brands have been specially made to act as energizers to ensure that the sportsmen and women and even the young adolescents can take to regain energy. Some parents fear giving out their children some beverage drinks due to the chemical content which affect their children moments after they consume the drinks but in this, the company has ensured the there are some special brands for the children, for instance, the berry sweet which boosts the health of the toddlers.

Environmental Scan and Competitive Analysis

Basically, the country is politically stable and very favoring for the business and this would be the best time for the company to execute the plan into practice. The economy is also at a very progressive rate and the number of investors in this matter has increased incredibly for the last three years, this has been witnessed with the frequent additional value in the currency. Compared to the previous days it is now pretty easy for one to acquire a business permit because there are no strict legal formalities required with regard to the inquiry of the business permit. The population of the country, when put to consideration, is as well an advantage because there is enough market for the product for as long as the customer’s preferences are met.

The competition is quite stiff, but I believe that these products will conqueror the market due to its unique content (Pulendran et al 2015). Every individual will always go for a drink that would work in favor of their health in as much as they are enjoying drinking this specific drink. The product was basically made after very deep research and brands have been made with preference to every customer being prioritized. The drinks have been made in a way that any parent would without any doubts give their toddlers the drinks compared to the other drinks which have been reported to bring about controversies in the health of the children.

Targeted Audience

I believe that the main targets of this drink the young toddlers, the sick people undergoing treatment, the aged and even the young adults. It is generally meant for everyone irrespective of heat they might be suffering from. The product as well as to be made available at every supermarket and the different stores not excluding the international market to allow for exporting and acquiring global marketing. When the drink will have been sold outside the country then that will widen the market hence additional profit-making since even the international market will be ready to purchase the product. The product is basically healthy for anyone who would wish to have a non-alcoholic drink since it is health friendly gets to add energy and also helps in cooling when the temperature is too hot.

Positioning Statement

For individuals who mind so much about their health and the health of their loved ones, the people who feel like they really need to cool down after a long day at work, those who are players and would need some energizers which would make them enjoy. The sweet super drink is there to serve all these purposes at the most affordable prices ever in the market. This drink not only minds the customer’s happiness but also the health and most especially the financial capability (Baker et al 2015). The only drink for everyone compared to the other non-alcoholic drinks available in the market currently.

Conclusion

I believe that these are some of the drinks we need in our current world where everything seems to expose us to the risk of a lot of dangerous diseases. Most of the drinks we have in the market are only made for the companies to make money, but this drink is there to make a difference in the non-alcoholic drink business. It is a product I would gladly invest in and make use of frequently so as to live a healthy life.

Work Cited

McDONALD, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge.

Armstrong, G., Kotler, P., Buchwitz, L. A., Trifts, V., & Gaudet, D. (2015). Marketing: an introduction.

Pulendran, S., Speed, R., & Widing, R. (2015). Marketing Planning, Market Orientation and Performance: An Empirical Study of Australian Organisations. In Proceedings of the 1998 Academy of Marketing Science (AMS) Annual Conference(pp. 455-456). Springer, Cham.

Baker, T. L., & Cronin, J. J. (2015). Organizational Life Cycle Theory: an Introduction as an Aid To Strategic Marketing Planning. In Proceedings of the 1989 Academy of Marketing Science (AMS) Annual Conference (pp. 345-349). Springer, Cham.