Apply marketing lemonade part 1

Scenario: Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define a marketable form of the drink and decide on a target market.

Your marketing team's mission is to prove the company's goals will be met by providing research, strategy development, and the reason why this form of the product is viable. For this part of the project report on the following:

Target market
Product's definition to the target market
Viable pricing strategy
Brand's position in the competitive environmentMarketing Lemonade Worksheet MKT/421 Version 17 1 University of Phoenix Material Marketing Lemonade Scenario Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally, and can be a privately-owned company or a franchised organization. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define the product that you will be selling (that is some marketable form of this drink) and decide on a target market. Your marketing team's mission is to prove the company’s goals will be met by providing research, strategy development, and reasoning why this form of this product is viable In this first half of the project, you will report on the following: • Target market • Product’s definition to the target market • Viable pricing strategy • Brand's position in the competitive environment Complete the following 1. Select a company name and determine the real business world industry of operation. Company Name Granddad’s Pop All-Natural Lemonade Industry of Operation Food and Beverage Industry 2. Describe in no more than 90 words the new and unique form of lemonade that will be launched by your company. Granddad‘s Pop All-Natural Lemonade will be a new form of lemonade soda. Granddad’s Pop All-Natural Lemonade will offer a low-end soda that can be bought in cases and a high-end organic version only sold in glass bottles and is a Fair-Trade market product. Our soda lemonade will only use local farmers products within the United States. Granddad’s Pop All-Natural Lemonade will come in a variety of flavors including strawberry, cherry, and honey. Our company will also provide a low-calorie version of the soda by reducing the natural sugars in the product by increase in the water content. Copyright © 2018 by University of Phoenix. All rights reserved. Marketing Lemonade Worksheet MKT/421 Version 17 2 3. Complete the chart in a total of 90 words describing your organization. Who are they Industry of Operation Mission and Values Differentiation from other organizations 4. Identify the following in no more than 90 words regarding your target market. Composition of target market Segmentation criteria used in identification The target market for Granddad’s Pop All-Natural Lemonade will be consumers of all ages anywhere in the world who enjoys lemonade. Our target market will also consist of lemonade drinkers who are health conscious and still want a delicious drink without sacrificing a great taste. The segmentation criteria used to identify the target market for Granddad’s Pop All-Natural Lemonade will include consumers who are health focused. The all-around market segments consist of consumers who enjoy lemonade. Health-focused market segment consists of consumers who tend to make all their food and beverage choices based upon being healthy and eating well. Less sugar market segment consists of consumers who are looking to cut calories from their diet. 5. Determine in no more than 90 words how you will define the lemonade to your target market (include information on packaging, labeling, etc.). How will this add value and differentiate the brand and product from the competition while encouraging the target market to buy? Target Market Definition Differentiation Copyright © 2018 by University of Phoenix. All rights reserved. Marketing Lemonade Worksheet MKT/421 Version 17 3 6. Complete the chart in a total of no more than 90 words to compare your company with industry competitors. Top Business Industry Competitors Your Company’s Positioning Sunkist Granddad’s Pop All-Natural is viewed as being a healthier alternative that is similarly priced. Sunkist does provide a wider variety of flavors at this time, but only the orange is available in a diet version. Expanding the product line closer to the growth stage of the PLC will help with the competition. Sprite Arizona Sprite recently released Sprite Lymonade to compete is the carbonated lemonade market. Sprite has a huge brand following but, according to several consumer reviews, the brand name seems to be the only reason the product is selling. Sprite boasts new Lymonade has “1% real juice”, which actually comes off as more ironic than healthconscious since it still has 220 calories and tastes like sprite with a bitter aftertaste, according to most consumers.