Marketing Plan on of Boost

        Growth and decline trend in the overall industry of a product causes to generate impact on each company selling that product. Therefore, before selecting a product company need to analyze the overall industry trend. In accordance to the research and industry analysis, chocolate candy industry is growing in the countries of Switzerland, Germany, Russia, UK and United States, as in the past people were not buying the chocolate candies as much as they buying now. Here the mentioned below graph presents the chocolate candy sales (through retailers) in the United States. According to this graph trend of chocolate candy is increasing and growing with the time.

Target Market of Boost

        The generational segment refers to the demographic segmentation category. According to our market analysis, the selected targeted age for our product is between the ages of 18 and 45. The age group is selected according to the research of targeted geographical segment. The research presents that people under this age range like chocolates and caffeinated drinks more than other people because of excessive work load and interest in the caffeinated snacks [1]. Thus through selecting the potential consumers of the caffeinated snacks and drinks, we can easily boost the sales of our product "Boost chocolate candy". Thus in a detail, we can conclude that the company will operate in the United States to sell out products for the audience of adult age and teen age male and females [2].

Marketing Mix of Boost

    The marketing mix is also known as 4Ps, price, place, product, and promotion represents a clear guideline for the company and its management to ensure a successful introduction of the product in the market. Here marketing mix is mentioned below with detail.

Product of Boost

        The selected product for this marketing plan is “Boost” chocolate candy. The product is basically a chocolate bar candy full of liquid chocolate for the amazing taste. The chocolate candy will be wrapped in the linear low density polythene blended with aluminum foil that will help the Boost chocolate candy to remain fresh and safe for the customers. In accordance with the research product it can be a way of marketing as the appearance of the product encourages or discourage the customers to buy the product. Keeping this fact in the mind, packaging of all chocolate candy flavors are designed in the way to get the maximum attraction of the customer [3].

        In the United States, there are several companies working in this field already. Therefore the company will face high competition in the introduction stage of the product. Therefore competitive advantage is essential for the survival of the company. Quality and taste of the Boost will help the company in building a competitive advantage. Boost will is mainly produced with the vision to provide energy, therefore, company will use the ingredients that can provide strength and energy to the human being (however, that ingredients should be safe for health and legally allowed).

Price of Boost

        Pricing strategy directly impact the sales of products as high prices sometimes cause to decrease the sales as customer prefer to purchase the product from the competitors when the level of satisfaction is almost the same. After the estimation of the cost and expense incurred on the production, promotion, and supply of the Boost, it is decided that company will follow the low-cost market leadership pricing strategy by offering the product at low prices in the beginning.

Place of Boost

        The following mentioned bar chart represents the consumption rate of chocolate candy recorded in 2015 in different countries of the world. Per person consumption rate of chocolate candy in the US is 5.5 that is more than other areas. The selected place for the distribution of the “Boost” is US supermarkets, Kroger, Safeway, Walmart, and Whole food market. While the company will also offer its products in the targeted market through e-commerce websites like Amazon and E-bay in the 5 LB bags. While the selected distribution strategy for Boost is an indirect distribution strategy. The company will sell out products to the whole sellers, retailers, and e-retailers rather than directly selling products to the customers through outlets or other distribution channels.

Promotion of Boost

        We will use several strategies and methods for promotion. We will focus on digital marketing and advertisement for the purpose of promotion. The marketing team will create social media profiles of the company for digital marketing. selected marketing platforms are Facebook and Twitter as our targeted market spend most of their time on social media therefore through advertising on these platforms we can easily attract customers. We will offer discounts to boost the sales in the introduction stage.

References of Boost