This assignment consists of two sections: your final business plan and your business plan financials. Note: You must submit both sections as separate files for the completion of this assignment. You h

Running Head: MARKETING AND SALES STRATEGY 0

Marketing and Sales Strategy

Ayouba S. Kosiah

Strayer University

BUS 599

Dr. Andrea Banto and Dr. Alethia Gardner

August 3, 2019

1. Define your company’s target market.

Life Drink primarily targets women between the ages of 18-45 years. The modern era of health and diseases has necessitated us to be more selective on what we consume. In the comptempoary world, proper nutrition, society and health has become familiar. On this concept, female tend to focus on the process contained in the healthy preparation of product. Women also also tried to concerntrate on the ingredients contained in a product and its nutritional value before consume. Female being the main agent of change, their approached towards nutrition will be the best and logical approach. The following statistatic shows a population breakdown within Daytona Beach city.

* 1 = High School Diploma or less 2 = Associate Degree 3 = Bachelor or higher

1. 1. Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description)

Demographic segmentation focuses on the division of a market , according to gender, age , ethnicity or religion and income. Daytona Beach acts as a host to a mix of demographics with the most dominant age group being citizens over 50 years of age. A large portion of this age group lives in a typical family setting consisting of a husband, wife, and children. The minority age group in Daytona Beach are college students between who are between the age of 18 and 25 years who are mainly single-college students who reside in the city for a temporary period of time before transitioning to other places. The group in the middle of these two age groups are persons between the age of 26 and 49. This group is inclusive of young professionals that have opted to live in Daytona Beach after finishing their college education. While some of these people own homes, many of them live in rented or leased homes.

1. Assess your company’s market competition.

1. 1. Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company’s market competition.

The market competition for Life Drink is not much due to lack of well-established competitors in the Daytona. Some of the competitors to Life Drink products include Naked Juice and V8 which yield the same level of satisfaction as Life Drink. Many of these competitors are operating far from Daytona Beach and as a result, their markets are not well established in the market. This paves a way for Life Drink as it will be a local company offering local products to the city residents. In also, most of Life Drink products will be slightly priced compared to those of the competitors. The low price competitive strategy will help in attracting customers across all income groups. As a result, the company will have an upper hand in terms of competition thereby attracting more customers to its products.

Defend your strategy to successfully compete against market leaders in your segment.

The primary competitive strategy for Life Drink Company is product quality and affordability. Also, Life Drink will highly capitalize its efforts on product differentiation which will go a long way into providing customers with well-differentiated products from our customers. Our product development future goal is to offer natural frozen drinks together with powdered fruit packets. The accomplishment of these goals will increase the attractiveness of the company’s products and as a result, encompassing more customer needs. This way, we will be able to compete with the market leaders in our segment.

1. 1. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 ).

Our business product is well-differentiated from those of competitor companies as there are very few companies who offer a close substitute for our product. Also, many competitor organizations limit their production to one type of product which makes it difficult for them to copy cut our product type. As a result of providing various products to our market segment, we will be able to fully differentiate our business products and services from our competitors. Also, we are going to offer customer service which shall involve our marketing team reaching out to customers for their feedback and review. This way, we will be able to continually develop our product based on customer needs.

1. Clarify your company’s message using the information provided on the worksheet in the text (p. 160 | The Five F’s).

The five reasons which drive a buyers to purchase a product are finances, function future, freedon and feelings.

• Functions- they are the most importance component for survival. They are as fellows: shelter, food and water. They are so vital to our survivals, we cannot live properly without them. Our product falls in the category of foods which makes it a viable solution to meeting the customer’s basic needs.

• Finances- Life Drink is a product that is very affordable to virtually anyone regardless of their income. My entity will appreciate and commend customer who serves as a motivatioval tools to buy much more goods. My NAB affordability and quality will encourage more customer.

• Feelings – Is one important factor to considered. Constomers have a options of extinquishing their wants. Developing intimacy or friendship in family and person relationship. People experiences high demand for something if they feed amazed by the looks.

• Future– Consumer want a product that is long lasting. They need something that will serve at longer period. Life Drink helps in weight loss and its natural nutritional value can help in boosting a person’s immunity.

• Freedom – customers need to feel that they made the right choice in purchasing and consuming a product. This will be significantly upheld by offering after-sales services.

1. Identify the marketing vehicles you plan to use to build your company’s brand.

To improve our marketing capability, our marketing department shall include a Marketing manager, a research analyst, and an advertising specialist. The marketing manager shall organize and manage our marketing actions by overseeing the marketing plan. The research analyst on the other end shall be responsible for market analysis which includes providing analysis plans with which to concentrate our marketing efforts. Finally, our advertising specialist shall be responsible for our brand awareness which shall include managing the advertising and product promotion services.

Our marketing channels shall include social media platforms including Facebook and twitter, television advertisements, as well as the company’s website. The selection of these channels is based on the fact they reach a large audience which is key to our marketing efforts.

References

City of Daytona Beach Community Development. (2011). Retrieved from http://www.codb.us/commdev.aspx.

Iacobucci, D. (2014). MM4: Marketing management (4th ed.). Mason, OH: South-Western Cengage Learning.

Rowe, T. (2009). Social media marketing strategies. Retrieved, from http://suite101.com/article/social-media-marketing-strategies-a220285.

The United States. United Census Bureau. (2010). Retrieved from http://www.census.gov.