prelab
April 8, 2021
assignment-15 – Custom Nursing Help
April 8, 2021

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 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. 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. 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.

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.

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