marketing plan
Marketing Profile (You cannot select Apple)
Choose a branded product and identify and describe its general marketing profile.
What are their products or services?
Who is the target market?
Identify some of their competing products
In general terms, what are their:
pricing strategies (Think BMW versus Kia)
distribution channels (Think Amazon vs QVC vs Target)
marketing communication strategy (Think TV vs Magazines vs Facebook)
Include any other marketing observations you identify.
Not longer than 2 pages. Organize your thoughts. An outline format with sufficient detail to understand your analysis is acceptable.
Here is a sample. This was more detailed than required, but given all the online resources, it's not that difficult to pull off. This was an A+ submission.
Gatorade, currently owned by PepsiCo, was the first product of its kind on store shelves, and it is still the most dominant, commanding almost 80 percent of the sports drink market. However in 2008 Gatorade repositioned itself as the G Series which markets a series of athletic beverages toward athletes with formulations for pre- and post- exercise use.
Mission statement and Target Market: Gatorade’s mission statement can be summed up in the phrase “Is it in you?” “It forms the core message behind the Gatorade brand: the sports drink purports to replenish the vital fluids lost during intense physical exercise and help you perform your best.” The creators of the product reasoned that water wasn’t enough to replenish the precious salts and minerals lost during an athlete’s workout. In the beginning, the target market focused on college athletics, especially football players. Over the years, Gatorade has redefined their target market, focusing on 18-24 year olds and a broad range of athletes and active people.
Market Segments: Its core customer is pro and college athletes. Others are average people who work out daily at the gym, or have other types of athletic activities. Therefore they adopt a combination of “demographic segmentation” based on the fact that most athletes tend to be 18-34, “psychographic segmentation” – how the consumer describes themselves through a combination of self-values, and lifestyle choices – as well as “benefit segmentation” which groups consumers on the basis of the benefits they derive from the product.
Gatorade’s G series Product Extensions and Offerings: According to their website: “Prime” is a pregame fuel that is designed to be consumed 15 minutes before exercise to achieve more energy maximizing the availability of carbohydrates to the muscles. “Performance” (which is the original Gatorade blend beverage) is a combination of electrolytes and carbohydrates designed to use in the moment of activity to help rehydrate, refuel, and push through activity. “Recover” is a protein and carbohydrate beverage that provides hydration and muscle recovery after exercise.
Pricing Strategies: Gatorade perceive the value of their product from the customer’s point of view and then prices accordingly, which makes their pricing strategy “value based.” This is a type of “target costing” that is also demand based. Not only does it satisfy the customer, but it also meets their set profit margins.
Distribution Channels: Since their customers all over the world, Gatorade has a large widespread distribution. Firstly, Gatorades is always visible at most of the major sporting events like the NBA, NFL, WNBA, NHL, and the like. Additionally, since Gatorade is owned by PepsiCo, they have a contractual distribution system: you will always see Gatorade wherever Pepsi: “retail intermediaries” such as Grocery stores, specialty sports stores, and convenience stores. As well as “nonstore retailing” such as vending machines in gyms and schools.
Marketing Communication Strategy: The most common form of promotion is television commercials: some highlight the history, the performance of their product, and/or their research. Most effective is their use of athletics sponsorships and professional endorsements. They also use sales promotions by providing samples at sports events, coupons, discounts and special displays. Gatorade created such an impression among athletes that “word of mouth” is another powerful promotional tool.
Competing Products: Gatorade has suffered a decline in sales and dominance over the isotonic category as consumers switch to The Coca-Cola Co. Inc.’s Powerade and other energy drink formulas products. “Powerade has half the salt (sodium) and more calories from carbohydrates than Gatorade. For serious athletes, Gatorade has a slight advantage especially in hot climates. The average person working out would not know the difference. But may enjoy the flavor of PowerAde more due to the extra sugars.” Also PowerAde is cheaper than Gatorade, and a person struggling in this economy might be more attracted to lower prices.
