Fluent Essays

This assignment consists of two (2) sections: a marketing plan and sales strategy, and a marketing budget. Note: You must submit both sections as separate files for the completion of this assignment.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.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: This assignment consists of two (2) sections: a marketing plan and sales strategy, and a marketing budget. Note: You must submit both sections as separate files for the completion of this assignment.F his assignment consists of two (2) sections: a marketing plan and sales strategy, and a marketing budget. Note: You must submit both sections as separate files for the completion of this assignment. 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. 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: 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. 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. 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. 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: 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. 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. 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: 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. 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. The specific course learning outcomes associated with this assignment are: Recommend effective business strategies based on an analysis of domestic and global operating environments, market dynamics, and internal capabilities. Analyze competitive positions including foreign market entry and the resulting impact on business strategy. Use technology and information resources to research issues in strategic management. Write clearly and concisely about strategic management using proper writing mechanics. Click here to view the grading rubric for this assignment. This assignment consists of two (2) sections: a marketing plan and sales strategy, and a marketing budget. Note: You must submit both sections as separate files for the completion of this assignment.F RUNNING HEAD: NON-ALCOHOLIC BEVERAGE COMPANY 0 Company Description and SWOT Analysis Pamela McBryde Assignment # 1 Dr. Andrea Banto BUS 599 Strayer University Introduction Non-Alcoholic beverages have gained popularity in the world due to its high consumption basing the fact that a good number of them can be consumed by both adults and children. Such drinks have been proved beyond reasonable doubt that they are nutritious meaning they are health friendly. There has been an increase in the production of non-alcoholic beverages and in the same regard the industries doing the business since the markets have been highly created since the demand is high. To this effect, I will be giving out a plan of a non-alcoholic beverage company which I will be opening and a vivid description of the business. Company Name and Significance The name of my company will be Juicy Cooler Drink due to the fact that the beverage drinks my company will be producing will have the best sweet taste which has never been experienced before. My drink will as well be so juicy and attractive even in the drawing which will be on the pack of drink. The reason why I used the term cooler in the naming of my company is that the drink will have an intense cooling capability and would help people who are so existed to cool down themselves. The other reason why I believe the drink would be cooler is that it will have the capability to restore energy to someone who is over excited since the nutrition content is high enough to facilitate energy even for the sick persons in the hospital. Company and Product Description The company will be a non-alcoholic beverage drink producer with a capacity of about 15 employees who will be working on the different machines for a minimum wage of $5 per hour. The capital to be used will be a rough estimate of $20000 which will cater for everything that would be needed to start and run the business. The products will be made from natural fruits such as mangoes, passion fruits, strawberry among many others together with some other ingredients such as honey and milk. The products will be packed in different forms such as bottles, cans and packs and also categorized differently based on the flavors. The products will have different names based on brands for example strawberry juicy, vanilla juicy among many others. Mission and Vision Statement The mission statement of the company will be Drink all for Long life and the greatest feeling, the significance of this mission stamen is that the drink will have very high nutrients content which will help to boost the life of individuals because some may not have the time to purchase the fruits. The great feeling would be as a result of the cool sensation brought about by the drink most especially during the summer (Breuer et al 2017). The drink will as well have the sweetest taste in the different flavors which would also consider the people who are suffering from diabetes and people with any other health complications that involve the sugar level of an individual. The vision statement, on the other hand, would be having the most preferred drink on basis of affordability and quality of the drinks being produced. It will be my greatest wish for the company to produce the most preferred drinks by a good number of the people due to the price at which it will be sold and the unique taste of the drink in the near future. I would as well wish to see the company gain foreign markets and capable of supplying as many drinks as possible within the globe. Lastly, it would be dreams come true when I will be able to establish branches in the different continents and to countries which are highly demanding for the non-alcoholic beverages. Marketing Trends Based on research non-alcoholic drinks and foods have captured the taste and preference of consumers due to the trend of health and wellness because a lot of these drinks have very high nutrients content which in turn enhances good sales. The demand for a non-alcoholic beverage is increasing at a very high rate because some of them even go to an extent of making the drinks their daily meals together with some snacks when they are too tired to make food or even when they are on a diet checkup so that they may reduce their weights. Some people do not take anything completely as breakfast but the beverage drinks and to them, that is enough to keep them till the next meal (Asaba et al 2017). A lot of people in this regard are eager to taste and know the kind of drink being sold to them and until the taste captures their attention. Innovation in this matter should be the key factor which strengthens the quality of beverage drinks being produced and due to this, there has been a continuous production of high-quality drinks. I am positive that my company would do best in this perspective because the products will be made from pure fruits such as strawberry, pineapples, mangoes and oranges together with some additional ingredients such as milk and honey. It is evident that all the ingredients which will be used are health friendly and may not harm human being at any cost. A SWOT Analysis of the Company In the running of the business, I believe that I must have issues which will serve as the strength some which will be my weakness since no one is perfect, I will as well have some open opportunities and in the same measure some threats. I believe that the name of my product will serve my strength because it is unique and once people will have a chance to taste it they will stick to it (Burns 2016). The taste of the drink will as will be the strength because the drink will be made from pure fruits and there will be no additional chemicals which tend to affect the health of the consumers. The other strength is that the company will have numerous product promotions which will be unique having been that they have never been used by another company in the industry. The weakness that my company will have to the others is that we will only be producing the non-alcoholic drinks but some of our competitors are as well as producing food beverages which give them an advantage over us. The other weakness that we have over the competitors is that the company is yet to be established and the names of the competitors are already well known and to this effect, it may take time before we are known as a company. As companies there are some opportunities that may come our way for instance; the unique drink we will produce will assure us of getting the customers even if it may take longer. We will have the opportunity to introduce as many brands as possible since people will be eager to have a taste at the product and they may end up liking all of them. The company will be launched during the summer where the demonstration of the product will be carried out and to this, it may be possible to win as many customers as possible. The company will have the opportunity to show to the people what is there in store for them. While carrying out any kind of business there must be some threats which a company or firm must encounter, and I know very well that my company would not be an exception. There must be an adequate supply of water and if at any chance there happens to be a scarcity of water the company might undergo a very strong loss (Phadermrod et al 2019). I also believe that there will be some competitors who would do anything to see my company fall and due to this try to produce the same products I produce but with a more different taste and to it we may suffer losses. Conclusion The non-alcoholic company will have the best of product with the most organized economic and marketing strategies which would yield a good number of customers after the official launching of the product. Bearing in mind the weakness of and threats which the company may encounter and curbing any loss that might come as a result of it I will ensure the company becomes the world’s best non-alcoholic beverage producer. Work cited Asaba, S., & Lieberman, M. (2017). A study on new product introductions in the Japanese non-alcoholic beverage industry. Japanese Management in Evolution: New Directions, Breaks, and Emerging Practices, 127. Breuer, H., & Lüdeke-Freund, F. (2017). Values-based network and business model innovation. International Journal of Innovation Management, 21(03), 1750028. Burns, P. (2016). Entrepreneurship and small business. Palgrave Macmillan Limited. Phadermrod, B., Crowder, R. M., & Wills, G. B. (2019). Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, 194-203.