MARKETING PLAN FOR A NEW SOFT DRINK

Students will have the opportunity to develop and demonstrate their marketing knowledge through the creation and marketing of a new soft drink. Students will:

• Identify an appropriate target market
• Develop a marketing plan to accompany the soft drink

Students will develop a new soft drink while following the marketing process, adhering to the reflection and practice of the Marketing Mix - the 4P's (Product, Price, Place, Promotion).

You will establish a pricing and distribution strategy for their soft drink. You should keep in mind that the promotional and advertising should be consistent with this strategy.

As a small start-up company, you will be responsible for all of the Business Departments by taking on the following role and responsibilities:

Product Development:

In Product Development, you will ensure the development of your soft drink which includes:

• Full description of the product.
• Features of the product that will make it competitive with other brands.

Marketing Research:

In Market Research, you will ensure the research for your soft drink has been conducted. This includes:

• Overview of soft drink market.
• Description of the target market and identification of needs and wants your product will satisfy.
• Explanation of what primary and secondary research will be used.
• Decision and explanation of where your product will be sold geographically and how consumers will purchase your product. (ie. Grocery stores, convenience stores, etc.)

Commercial Pricing:

In Commercial Pricing, you will ensure the selling pricing strategies align with the business branding.This includes:

• Explanation of how soft drinks will be packaged and sold. (ie. 12 or 24 can case, 1L or 2L bottles, etc.)
• Determining a selling price.
• Explanation of pricing strategies.

Advertising and Promotions:

In Advertising and Promotions, you will provide an overview of the branding, packaging and labeling, advertising, and promotion of the soft drink. This includes:

• Generate and present a news release for the product that will be distributed to the mass media.
• Name and describe at least 1 sales promotion that will be used during the life of the product.
• Describe the promotion(s) fully including all details of the campaign.For example, decide where it will be placed (which media), length of the campaign, the start date of the campaign, the reason for doing the campaign, cost of campaign, rules or restrictions of the campaign, how to promote the campaign, how to judge the effectiveness of the campaign, etc.

Marketing Plan For A NEW SOFT DRINK

Putting It All Together

Each student is to submit a word-processed marketing plan for their new soft drink that they have created. The marketing plan should be formatted in report style. Therefore, you need to include a title page, table of contents, headings, subheadings and any necessary exhibits (graphs, tables, illustrations, graphics, etc.) to help support data in the report. The report MUST be a formatted full block (single-spaced paragraphs, double-space between paragraphs, no indents) plus include a footer (company name - left, date - center, page X of Y - right). Any reference or research material used in your report must be referenced.

The following sections must be included and addressed in the Marketing Plan:

1. Title-Page

A well-formatted title-page. It is the first thing a reader will see and should therefore leave a positive impression. Ensure that the title-page information is clear and visible. It should contain the following information:

Product (Soft Drink) Name

Company Name

Person submitting the plan

Date of submission

Course Code

Teacher's Name

2.Table of Contents

Should list all the main elements of the marketing plan including appendices.

3.Introduction

Executive Summary, Mission Statement, and Objectives

One-page summary highlighting the key features of your plan.

State the goals that you have/are setting out for your soft drink. Such things as market share, market introduction/penetration, and profitability should be included here.

4.Company Description

Company Name, Brand Name(s).

Background and orientation of your business.

A description of your product (soft drink). What needs or wants are you satisfied with your soft drink?

5.Market Overview

A description of the current conditions in the marketplace for the product similar to what you are proposing.

A description of the companies (competitors) currently in the market: their products; their features, their strengths, and weaknesses. What products are directly and indirectly competing with your company? How does your product compare to others in the market? In other words what are the opportunities and threats that exist? Remember to include a S.W.O.T. Analysis.

A description of where you see your company and its product(s) fitting into the scheme of things (niche).

Any additional economic, legal, socio-cultural, or technological analysis or information that you deem appropriate.

6.Market Analysis

Industry/Market Definition (market statistics provided, business and industry trends identified and discussed) and Target Market - who is it and why was it chosen? Identify the demographic, psychographic, etc. characteristics of the target market. Is there a primary and secondary market for your product?

Market Research. What data do you have that would suggest your soft drink would be successful? This should be obtained from secondary sources.

7.Marketing Strategies and Activities

This is where you will provide all the details of what you are planning to do with your product. You will need to describe in as much detail as possible your strategies covering the "4 Ps of Marketing"

What are your strategies for...

a)Pricing - price, the strategy is chosen, and rationale. What do you anticipate your break-even point to be? What type of pricing strategy would you suggest that your distributors/retailers use? What do you anticipate the demand for your soft drink to be?

b)Distribution - Where will your product be available for sale in the marketplace? What type of distribution strategy and channel(s) will you employ? What is your rationale for these strategies?

c)Product - Description of the type of soft drink youhave created. What is the soft drink's USP (unique selling position)?

d)Advertising and Promotional Campaign - Outline the advertising and promotional plans. What media and techniques will be used? What is the message that you wish to send to your target audience? When will the advertising and promotional plans run and with what frequency? What do you anticipate the cost of your advertising and promotional campaign to be?

8.Other Relevant Information

What risks do you anticipate? What are your contingency plans if any?

9.Appendices

10.References for any material included