Marketing Plan & Sales Strategy
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:
· Assess your company’s market competition.
. Use the factors listed in the course text graphic (p. 123 | Assess the Competition see below) to assess your company’s market competition.
. Defend your strategy to successfully compete against market leaders in your segment.
. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 | Market Share Distribution see image below). (List below the current market leaders and the approximate percentage of the market each one commands.)
Hints: Every business faces competition and the non-alcoholic beverage market is an especially crowded market.
· Clarify your company’s message using the information provided on the worksheet in the text (p. 160 | The Five F’s).
(Keeping the Five Fs in mind, describe the message you want to convey to customers about your product or service.)
. Hints: Before you choose your marketing vehicles, you must determine the message you want to convey through those vehicles.
· 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.
· 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 use the attached “Business Plan Financials” MKTBUDJ TAB MS Excel template.
Complete the Marketing Budget worksheet for your company.
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