MKT 421 Marketing Assignment: Marketing Lemonade Worksheet- University of Phoenix
Marketing Lemonade
Scenario
Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally, and can be a privately-owned company or a franchised organization. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define the product that you will be selling (that is some marketable form of this drink) and decide on a target market.
Your marketing team's mission is to prove the company's goals will be met by providingresearch, strategy development, and reasoning why this form of this product is viable In this first half of the project, you willreport onthe following:
• Target market
• Product's definition to the target marke
• Viable pricing strategy
• Brand's position in the competitive environment
Complete the following
1. Select acompany name and determine the real business world industry of operation.
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Company Name
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Industry of Operation
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Life Gives You Lemons Inc.
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Manufacturing and Distribution
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2. Describein no more than 90 words the new and unique form of lemonade that will be launced by your company.
At Life Gives You Lemons Inc. we are committed to sourcing sustainable ingredients and practicing green methods during manufacturing and distribution. Our Artisan Lemonade is packaged in glass which is resealable and can be used for other drinks at home, or sent back to us for 20% of the purchase price. We use a low footprint and offset our carbon production by planting trees. Our Lemon trees are built into a closed loop input-output model as well. As for the lemonade- well, it is in every flavor you can imagine, from our tried and true basics, to Basil flavored, using all-natural ingredients like honey and sugar.
3. Complete the chart in a total of 90 words describing your organization.
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Who are they
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Industry of Operation
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Mission and Values
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Differentiation from other organizations
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Lemonade Company
Green Practices
Sustainability
Artisan Lemonade
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Manufacturing and Distribution
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Providing Lemonade to every person without the guilt of creating more waste for the environment, and using the best most ethical materials
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People above profit
Recognizing that smaller profit with no carbon footprint is the way of the future
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4. Identify the following in no more than 90 words regarding your target market.
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Composition of target market
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Segmentation criteria used in idenfitication
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5. Determinein no more than 90 words how you will define the lemonade to your target market (include information on packaging, labeling, etc.). How will this add value and differentiate the brand and product from the competition whileencouraging the target market to buy?
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Target Market Definition
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Differentiation
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6. Complete the chart in a total of no more than 90 words to compare your company with industry competitors.
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Top Business Industry Competitors
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Your Company's Positioning
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7. Define the pricing strategy in no more than 90 words that you will use for the introduction of the product.
8. Discuss in no more than 90 words the maturity life cycle stages of your product.
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Stage of Maturity Life Cycle
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Discussion
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9. Describe in 90 words how you will use suppliers, agents, or distributors to create your distribution channel.
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.