· 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:
1. Define your company’s target market.
a. 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).
b. Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
2. 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.
2. Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company’s market competition.
2. 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.
· 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.
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.
1. 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:
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. 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.
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 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.
6. 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.
1. 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.
1. Hints: When filling out the “Marketing Budget” worksheet in the Excel spreadsheet, do the following:
2. 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.”
2. Leave the number at zero (0) for any marketing vehicles you do not intend to use.
2. 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.
2. Do not leave the “Marketing Budget” blank assuming you will not have any marketing costs.
2. 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.
Running head: COMPANY NAME 1
Company Description and SWOT analysis
Dr. Andrea Banto
July 28, 2019
Company Description and SWOT analysis
21 ForEver was established to offer a healthy, all-natural organic beverage supplement. It is essential to want to remain youthful, as you get older, the need for more nutirients and a much more active life style for the older generation is what is most desired. Studies have proven the less active you become once your are older, the greater the need for a boost. 21 ForEver offers just that! It’s invention was because of the limited number of healthy beverages supplements available on the market. 21 ForEver beverages are organic, all-natural with with no pesticides, or artificial sweeteners, colors, or preservatives. 21 ForEver has become a household name with the introduction of “Very Berry” a new addition to 21 FoEver. The growth of 21 ForEver has resulted in this wonderful beverage being found in larger retail stores such as Whole Foods Groceries, Wegmans, and Walmart. The future for 21 ForEver will launch its new vegetable beverage drink line that will appeal to vegans.
21 ForEver is a cost-effective NAB that is healthy and guarantees that you will live a much healthier life by incorporating this fantastic beverage which offers more vegetables compared to beverages in its class on the market today. 21 ForEver desires that consumers will choose 21 ForEver because we pride our ability to be an organic pesticide-free, all-natural product. Free of artificial colors, flavors, and sweeteners. 21 ForEver stands proudly behind its brand which helps to accomplish its mission
Trends in the industry
· 21 ForEver will market via the Pop-Up Shop Trend, where you set temporary retail establisments.
· The desire to consume organic beverages have affected supermarket chains. Although organic beverages are generally high in comparison to sugary drinks, many consumers are switching to organic to promote a healthier lifestyle (“Top 10 Natural & Organic Food Trends for 2019,”n.d.) 21 ForEver has projections future growth rate:
· Have the products placed into the Fitness Centers and Gyms
The use of Pop-up marketing is an economic way to introduce products to consumers
your procduct. Having a website is a must; a website is a great marketing resource for
information about the product. Social media is a must marketing tool, on all Social media platforms and websites
Production cost for organic food is usually much higher than non organic foods therefore
Distribution for organic foods cost more. The care of nurturing and feeding both the natural and livestock is why the cost is more expensive than non organic products.
Every business involves risk. 21 ForEver clients may decrease as they may not be able to
afford the cost that is associated wih a healthy beverage. “A risk asssessement helps to prepare for and prevent threats to your success.(Secreats & Strategies). The risk that the competitors have established clients.
The idea that the Fitness Facility Golds Gym, may not be receptive to marketing 21 Forever in its facilities, the brand may not be a fit for the company.
· Beneficial to you health
· Vegatable in a Drink
· New to the market
· New Brand
· Small Business
· Limited Products
· Not established
· Increased Profits
· Pop-up Shop
· Expanding online partnreship by tapping into Amazon and eBay can increase output and sales.
· Expand Products
· A slow economy.
· Product marketing
Alton, Lary (2017). Entreprenaeur, Pop-up Shop Markeing: A Quick How-to Guide, Small Business Heroes. Retrieved from: https://www.entrepreneur.com/article/296064
Abrams, R. (2014). Successful Business Plan: Secrets & Strategies (6th Ed.). Palo Alto, CA: Planning Shop.
Why is Organic food more expensive that Coventional food: FAO (n.d.). Retrieved from : http://www.fao.org/organicag/oa-faq/oa-faq5/en/
Top 10 Organic Food Trends for 2014. (n.d.). Retrieved from http://livingmaswell.com/top-5-organic-food-trendsfor-2014