What is your Marketing plan?

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.

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

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 (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 (https://www.census.gov/programs-surveys/cbp.html). 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.
  1. 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.
  2. 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.

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.

  1. Complete the Marketing Budget worksheet for your company.
      • 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.
      • 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.

          Note: Both sections need to be separate files in this assignment.