Fusion + Energy. See this link for more information. You have a challenge to ove
ID: 409841 • Letter: F
Question
Fusion + Energy. See this link for more information. You have a challenge to overcome in the marketplace. Nearly 2 in 3 people wish they had more energy, but 40% of consumers do not believe energy drinks are healthy for them. Your Vice President of Beverage Marketing believes this is an opportunity in the marketplace. Your Vice President of Beverage Marketing has asked you to prepare a marketing plan to launch this new brand in the U.S. market. She has asked you to conduct research on the following: • Analyze the marketing environment, including the macro environmental factors. Outline what environmental factors you should be aware of and how you will adjust accordingly. • Perform a competitive analysis. Who are the firm’s competitors and what is their positioning strategy for similar products? What are their marketing tactics? • Using the segmentation, targeting, and positioning process outlined in your textbook select your target market. Also, develop your positioning strategy. • Using the market research process outlined in your textbook, develop a research study to help you determine the pricing strategy for the product. What research method would you use and why?
Explanation / Answer
Marketing plans are essential for promoting a new product within the targeted consumer industry that will increase the brand identity. Branding, advertising and event promotion make up essential components of any successful marketing campaign. Thus, the marketing plan provides a blueprint for businesss to effectively analyze the marketing environment by key brand identity factors and on the macro environmental factors.
Energy drink Target mark
When thinking about the energy drink target market, it is important to consider who is most receptive to the purported effects of the beverages.
Focusing on a specific age group, many energy drink companies are even more exclusive in their marketing efforts, gearing their products and advertising to appeal to very specialized groups, such as gamers, extreme sports enthusiasts and the hip-hop crowd.
The design and packaging of many energy drinks also relates to the target market.
Marketing tactics- the primarily utilizes are social networks along with magazine placement advertising to introducing the product but in selected markets. In using the brand name as a unique concept, the energy drink will incorporate healthy goals in fast intake with branding product name.
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