Read the rubric below to develop a scope of work. Referring to the week 4 Marketing Mix assignment, develop a plan to leverage your marketing mix to create a p

Positioning Strategy

Read the rubric below to develop a scope of work.

Referring to the week 4 Marketing Mix assignment, develop a plan to leverage your marketing mix to create a positioning strategy for your product/service. Include the FMOT and SMOT you want your customer to experience.

Next, explain, in a graphic how you will leverage each P to position your product/service with the customer. In a narrative, explain the graphic in detail. Do not leave the interpretation of the graphic to the reader to discern. Always explain the takeaways you want the reader to comprehend.

This assignment is due Sunday of week 6 by 11:59 pm.

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MARKETING MIX 6

Marketing Mix: Energy Drink

Anthony Bahlman

UMG

MKTU/605

05/29/2022

Marketing Mix Description

Product

The company maintains a simple product mix. The company has established different flavors for the energy drink to ensure that they suit the customer needs and tastes. Some of the flavors that will include cranberry, coconut, blueberry, and kiwi. Due to the growing need for having sugar-free drinks among the millennials has led to the introduction of the sugar-free energy drink. The energy drink will be packaged in a bottle that is white with a combination of blue color and a sparking image to show that the drink is bursting with energy. The container will be cylindrical with the brand name written horizontally in sparkling red color.

Pricing

The energy drink is a new product in town. Therefore, the pricing strategy that will be used is market skimming. The company wants to ensure that the investments are recovered in the shortest time possible before there are more imitations and the rise in the price competition. Thus, enforcing the brand position as a unique healthy product will require the prices of the new product to stay higher than the competitors (Rajavi et al., 2019). The price will however, be set at a reasonable level and be realistic to ensure it adds value to the consumers. The company will also use special pricing methods and tactics to ensure it stimulates purchases. The use of discounts for bulk purchases is meant to enhance purchases in high quantities. The company will also use discrimination tactics to ensure the prices are lower for some customer segments such as the students in colleges, sports centers, bars, and restaurants.

Promotion

The company will use push promotional strategies to ensure the energy drink reaches a greater market. This is a strategy that ensures that the company takes the products to the consumers. The goal of this strategy is to ensure the products are taken directly to the consumers. The company will thus work with contracting different wholesalers and retailers to provide enough supply base and convenience for the targeted consumers. These suppliers will receive incentives in order to ensure they continue to sell the energy drinks (Sudari et al., 2019). The promotion strategies that will be used include direct marketing. This is a strategy that aims at ensuring the promotional messages reach to the targeted consumers directly. The company will open a Facebook page and a website where the targeted consumers and existing customers will interact with each other and share the views about the product. The use of these platforms will be useful for the company to keep track of the customer reactions and to understand the changes that should be made to make the product better. The strategy will help the company to grab a huge market share.

The promotion strategies will include the use of the integrated marketing communications. The objectives of the established communication strategy is to create brand awareness, brand positioning, and stimulating purchase and repeat usage. Thus, the communication strategy for the energy drink will include massive product launch campaigns within the country and afterwards, some targeted marketing to the targeted segments (Wu & Li, 2018). For the purposes of achieving this goal, the company has set aside a budget of $200,000 for one year. Advertising will be used as one of the most important tool in the integrated marketing communication strategy. The ads will be placed on the print media and the social media to ensure it reaches all the segments of the customers including the older generation which is not attracted by the use of social media. The company will also use advertising methods such as billboards, branded vehicles and posters to make the customers identify with the new product. The social media will be used for viral advertising to reach the tech savvy youths who enjoy the creative and fun advertising messages.

Distribution

For the new energy drink, the company will use intensive distribution strategies in order to make the products available in as many outlets as possible. The suppliers will be selected around the country to help maintain the brand of the company and solidify the position of the product as a premium product. The main retail distribution channel is the supermarkets (Mintz et al., 2021). These are the most consumer shopping places. The products will also be distributed to the bars and restaurants, and pharmacies. The company also will establish strategic distribution centers in the different parts of the country to ensure that there is no shortage of the products in these parts. There will be national distribution firms to help distribute the brand in different states and the regions.

Operationalizing the Marketing Mix

The operationalizing of the marketing strategy involves the different facets of the company as opposed to the marketing arm. An effective marketing strategy uses the unique strengths of the business and communicates this value to the consumer (Prabowo & Sriwidadi, 2019). The company has to harmonize the marketing mix with all the sales, customer service, and the marketing function. Operationalizing the marketing mix requires that the employees think about the targeted customers, setting quantifiable steps and harmonizing the marketing strategy across the business. The product aspect of the marketing mix will be operationalized by ensuring the team in the company is structured for success. The teams in the company work together and communicate effectively to enhance the competitiveness of the company. The setting of clear objectives, roles and expectations enhances the achievement of the goals in the company. The second approach of operationalizing the marketing mix is the definition and measuring of success (Lim, 2021). The teams needs to use data-centric goals to align with the company’s overall goals. The team leader should ensure there is candid feedback from all the others in order to ensure changes and chances of poor performance are identified beforehand.

References

Lim, W. M. (2021). A marketing mix typology for integrated care: the 10 Ps. Journal of Strategic Marketing, 29(5), 453-469. https://www.tandfonline.com/doi/abs/10.1080/0965254X.2020.1775683

Mintz, O., Gilbride, T. J., Lenk, P., & Currim, I. S. (2021). The right metrics for marketing-mix decisions. International Journal of Research in Marketing, 38(1), 32-49. https://www.sciencedirect.com/science/article/abs/pii/S0167811620300616

Prabowo, H., & Sriwidadi, T. (2019). The Effect of Marketing Mix toward Brand Equity at Higher Education Institutions: A Case Study in BINUS Online Learning Jakarta. Pertanika Journal of Social Sciences & Humanities, 27(2). https://web.p.ebscohost.com/abstract?direct=true&profile=ehost&scope=site&authtype=crawler&jrnl=01287702&AN=138604958&h=GQXg%2fh3QTcURvs27QOEpZ%2fZfG2YpFb3ZlH6zFcI4cVRW7DYm4pfI%2bANH2dnt%2f%2bHs8VpE14svh6QyYLaw5igZfA%3d%3d&crl=c&resultNs=AdminWebAuth&resultLocal=ErrCrlNotAuth&crlhashurl=login.aspx%3fdirect%3dtrue%26profile%3dehost%26scope%3dsite%26authtype%3dcrawler%26jrnl%3d01287702%26AN%3d138604958

Rajavi, K., Kushwaha, T., & Steenkamp, J. B. E. (2019). In brands we trust? A multicategory, multicountry investigation of sensitivity of consumers’ trust in brands to marketing-mix activities. Journal of Consumer Research, 46(4), 651-670. https://academic.oup.com/jcr/article/46/4/651/5519122?login=true

Sudari, S., Tarofder, A., Khatibi, A., & Tham, J. (2019). Measuring the critical effect of marketing mix on customer loyalty through customer satisfaction in food and beverage products. Management Science Letters, 9(9), 1385-1396. http://m.growingscience.com/beta/msl/3217-measuring-the-critical-effect-of-marketing-mix-on-customer-loyalty-through-customer-satisfaction-in-food-and-beverage-products.html

Wu, Y. L., & Li, E. Y. (2018). Marketing mix, customer value, and customer loyalty in social commerce: A stimulus-organism-response perspective. Internet Research. https://www.emerald.com/insight/content/doi/10.1108/IntR-08-2016-0250/full/html

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