Energy drink marketing plan examples

Assignment: Marketing Plan

This assignment consists of two (2) sections: a marketing plan and sales strategy, and a marketing budget.

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

Write the three to five (3-5) page Marketing Plan & Sales Strategy section of your business plan, in which you:

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.). Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).

b. Outline the demographic information for your company specified on the worksheet in the course text like the figure below.

· 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 ( http://www.census.gov/econ/cbp/ ).

2. Assess your company’s market competition.

a. Use the factors listed in the course text graphic to assess your company’s market competition. Factors Includes: Who, What, How, Future, Barriers

b. 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.

c. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text.

· Hints: Every business faces competition and the non-alcoholic beverage market is an especially crowded market.

3. Clarify your company’s message using the information provided on the worksheet in the text. (Use the 5 F’s)

· Functions. How does the product or service meet their concrete needs?

· Finances. How will the purchase affect their overall financial situation — not just the price of the product or service, but other savings and increased productivity?

· Freedom. How convenient is it to purchase and use the product or service? How will they gain more time and less worry in other aspects of their lives?

· Feelings. How does the product or service make customers feel about themselves, and how does it affect and relate to their self-image? Do they like and respect the salesperson and the company?

· Future. How will they deal with the product or service and company over time? Will support and service be available? How will the product or service affect their lives in the coming years, and will they have an increased sense of security about the future?

· Hints: Before you choose your marketing vehicles, you must determine the message you want to convey through those vehicles.

4. 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.

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· Hints: If you plan to use online marketing tactics, refer to the worksheet in the text (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.

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· 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.

5. 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. 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.

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. Use the “Business Plan Financials Guide” to support your development of the Marketing Budget.

6. Complete the Marketing Budget worksheet for your company.

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· 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 Company I have already created!!!!!!)

Company Name

The company is Thrill Drinks, Incorporated, (Non-Alcoholic Beverage). Our motto is “Satisfying your Taste and Desires!” This company would be originated out Mississippi. Thrill Drinks goal is to be stimulating to everyone. Thrill Drinks, Inc makes non-alcoholic beverages that is more of a juice, organic nutrients, and slight energy boost all in one. This company will have anyone ready to taste a sudden sensation of delight and be filled with excitement. Thrill Drinks, Inc., hopes to meet all satisfaction of taste of all customers.

Mission Statement

Thrill Drinks was created to continue the traditional taste of nutrients but with no alcohol. Our company works hard to provide all customers with a great sensational drink that has a great taste and pleases every thrill that is seek. We want customers to crave and think about Thrill Drinks. Thrill Drinks provides a mission by building long-term relationships with customers who can make it become a reality. We will compromise a complete line of the highest quality products supported. Our mission has been and will always be to gratify our customers by distributing superior-quality, vigorous, as well as enticing beverages. Not only it is non-alcoholic it is also healthy and provides vitamin C and organic nutrients in every bottle. Thrill Drinks is all about a person’s health and how to keep it healthy and still have an abundant time.

Rationale

It is always good to bring a new and fresh beverage to the world. There are many non-alcoholic beverages throughout this world. But to be able to have a drink that makes great sales and taste extraordinary is a great benefit. Now days with Thrill Drinks, it's how much is needed to drink to get all the Vitamins and Nutrients needed in a day. Thrill Drinks is good for any adult. Thrill Drinks aims to be different from other drinks by having a different taste, price, ingredients, and unique motto. Thrill Drinks is definitely here to satisfy all customers.

Trends in Beverage Industry

Undeniably, the non-alcoholic beverage segment has shown continuous development during last few years. The main reasons behind selecting this product include positive growth prospects, continuously rising consumer base and growing health consciousness among customers. Growth rate, competition and marketing goals are some of the many trends that a company has to offer. Growth rate increases throughout the time of that the product is being sold. Thrill Drinks has a lot of competition. That is why it is important make sure Thrill Drinks stands out differently from other drinks. The marketing goals are definitely a very important factor. Thrill Drinks has to stay successful throughout the business market. Marketing goals for Thrill Drinks could be positive if certain goals are always accomplished. These trends definitely can lead to success for Thrill Drinks.

Strategic Position

Thrill Drinks would tag along the cost leadership approach. The main goal of the company would be providing its customers good quality products that to at reasonable price. The company would make every possible effort for setting product price lesser than the similar products made available by the competing companies.

Company’s Distribution Channels

Thrill Drinks products would be made available via direct and indirect channels. Direct distribution channels would take in offering products through company stores. Additionally, indirect channels would take in providing products via grocery outlets, wholesalers and retailers. Hopefully with a structured plan in grocery outlets, wholesalers, retailers, such as gas stations, nutrient shops, organic supply stores, etc. that Thrill Drinks will succeed at sale prices. It is important to choose the best distribution channel for business.

Risk Management

Description of risk

Risk Probability/Percentage

Reduce Risk

Market Risk

High

Accurately examining all the prevailing laws and regulations. Upgrading present and future operations according to governing laws and regulations.

Technology Risk

High

Restricting access to confidential information. Setting privacy policies.

Competitive Risk

High

Providing suitable training. Appointing knowledgeable staff and providing them appropriate training.

SWOT Analysis

SWOT Analysis tool is considered as being a highly effective means for scrutinizing the internal (strengths and weaknesses) as well as external (opportunities and threats) factors affecting any business, product or section (Hill and Westbrook, 1997). Additionally, the sections below analyze Thrill Drinks and industry as a whole by making use of SWOT Analysis tool. Thrill Drink’s SWOT Analysis is a clear and concise way of acknowledging good and bad side of the company. And to also try to eliminate the threats and weaknesses for better strength and opportunities at all times.

Strengths

· Combination of skills and abilities

· Sound capital and resource base

· Educated/Experienced employees

· Effective strategies and marketing efforts

Weaknesses

· New entrant in the market

· A limited financial base with respect to already existing giants.

Opportunities

· Growing market of non-alcoholic beverages

· Virtual sales and marketing

Threats

· Changes in customer inclinations and buying attitude/behavior

· Aggressive competitors

· Threats from new entrants

· Government policies and regulations

· Increase in the cost of resources.