Non-Alcoholic Beverage Market Marketing Plan
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Non-Alcoholic Beverage Market Marketing Plan
- Assignment 2: Marketing Plan
Due Week 5 and worth 100 points
This assignment consists of two sections: a marketing plan (Word document) and Marketing Budget (Excel document) Note: You must submit both sections as separate files for the completion of this assignment.
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 3–5-page marketing plan and sales strategy section of your business plan in which you do the following:
- 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.). Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description).
- Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
- Hints: At American FactFinder (http://factfinder.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 ( http://www.census.gov/econ/cbp/ ). Check Chapter 2 of Successful Business Plan for more research sources.
. 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 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 face competition, and the non-alcoholic beverage market is an especially crowded market.
- 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.
- 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.
3.
- 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.
. 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, and exhibiting at trade shows attended by retailers. 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:
- 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.
- The paper must be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides; references must follow APA format. Check with your professor for any additional instructions.
- 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 uses the “Business Plan Financials” MS Excel template (see: Required Course Files in Week 1). Use the Business Plan Financials Guide (see: Required Course Files in Week 1) to support your development of the marketing budget.
- Complete the “Marketing Budget” worksheet for your company.
Note: Complete the Setup tab first based on the instructions located in the Business Plan Financials Guide (document you also downloaded from PlanningShop). Only the setup tab and marketing tab should be completed for this assignment.
- Non-Alcoholic Beverage Market Marketing Plan
6.
- 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, do the following:
- 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 incur costs of advertising and these 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 most likely pay for ads on that site.
- Do not leave the “Marketing Budget” blank assuming you will not have any marketing costs.
- Do not complete all the rows; only fill in the costs for the marketing vehicles you will actually use. These must match the content you describe in Question 4 Word portion of this assignment.
The specific course learning outcome associated with this assignment is:
- Create a marketing plan that identifies a target market, market competition, a company message, and marketing vehicles for a company.
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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