Assignment 2: Marketing Plan
(Use the business you created in assignment 1)
For the first 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 25 miles from where you live.
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 and Sales Strategy (MS Word or equivalent)
Write the 5-page marketing plan and sales strategy section of your business plan in which you do the following:
1. Define your company's target market.
i. Analyze the types of consumers who will be drinking your beverage in demographic terms (i.e., age, education level, income, gender, ethnic group, etc.). Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description).
ii. Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
2. Assess your company's market competition.
i. Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company's market competition.
ii. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 | Market Share Distribution).
3. Clarify your company's message using the information provided on the worksheet in the text (p. 160 | The Five F's). Create a marketing slogan/tagline for your product.
4. Identify the marketing vehicles you plan to use to build your company's brand. Justify the key reasons why they will be effective.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.