Answering question:
Question #1: Develop a brief marketing plan for the event of your choice. Make sure to identify the competitive advantages, target market(s), strategies, tactics, budgets, and schedule and evaluation methodologies. Describe how you will increase your marketing performance through creative and innovative tactics.
Answer: To promote the promotional event of Frizzy Drink, I will use certain strategies and a particular way for the marketing plan. The marketing plan will cater few things that will help the product in getting recognition. By adopting few of the significant steps, the marketing plan would be very useful to promote the event
Pricing: The pricing of the product is the most important part in marketing plan to promote the product in the event. Price of the product should be according to the customers and the budget and costing of the product. Do not demand excessive profit, it will lessen the demand of the product. The budgeting of the product is also very important in pricing. Never use excessively expensive products that will increase the product rate and customers feel reluctant in buying it due to high prices. $3 to $4 would be very appropriate for the price of per unit.
Proper Marketing of the Product:
Proper marketing plan will ensure in making the product successful. Campaigns would be carried out to promote the frizzy drinks on different forums including public recreational areas, malls and offices. The event will cater a proper marketing
A marketing plan can be viewed as a roadmap in which an organization navigates through a sequence of steps in order to promote a service, goods, or program (Thomas, 2015) (May, Apr 12, 2012). Therefore, in order to initiate the occurrence of any marketing activity, it is vital to have a marketing plan to follow in the event to create awareness, attract customers, and to gain business (Thomas, 2015). In having a marketing plan, the organization must delineate their marketing initiative through a sequence of designated steps by strategically organizing, marketing activities while defining who will be their targeted potential customers (Buttell, Jan/Feb 2009). In meeting the strategic objectives of a marketing plan, it should
This product or service will be the basis for your Marketing Plan Paper. Obtain your instructor’s approval of your product or service before beginning this project. Write a 1,400- to 1,750-word paper that includes the following: An overview of the existing organization A description of the new product or service An explanation of the importance of marketing to your selected organization’s success A SWOTT (strengths, weaknesses, opportunities, threats, and trends) analysis on the new product or service The marketing research approach you would use to develop the marketing strategy and tactics for this new product or service
PetSmart is one of the largest specialty pet retailers of service and solutions for the lifetime of pets. More than 1008 stores are open in the United States and Canada that provide pet foods and supplies that are priced reasonably. PetSmart provides all types of services for pets including pet training, pet grooming, pet boarding and adoption services. In addition to providing impressive value PetSmart has the broadest, deepest product range in the industry, including thousands of products exclusive only to PetSmart. Every year PetSmart takes care of the grooming for hundreds of thousands of pets in what PetSmart calls its PetSmart Salons. These animals are groomed and pampered by stylist who have
In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil
The price comes from how much the product should sell for. In considering prices, the organization should consider the "product, customers, competitiveness, and quality."(Purdue, 2007)
In relation to promotions we believe an Integrated Marketing Communication (IMC) strategy would be the best way to proceed. Through IMC the brand will be able to maintain a personality and attitude that communicates effectively with the target segment. It will also help to build a desirable ‘brand image’ and relationships with consumers and distributors. The marketing activities will be very specific. It will involve a range of communication mediums including advertising, media, public relations and sales promotion.
A successful marketing campaign needs a lot of planning up front, a very granular plan, down to the details can help eliminate any surprises along the way and ensure a smooth campaign and increase the chances of achieving your goals.
Nowadays, for a company to be successful in the business world one must have a good marketing plan to be successful. One way to accomplish a successful business plan is to use something known as the marketing mix or the four P’s of marketing. These four P’s of marketing are known as the product, place, price, and promotion. If one uses these four P’s one will notice that each of these cover their own part in marketing, which will help make a successful marketing plan. In this paper one will see what each of these four P’s are in marketing. Also one will see how each of these four P’s is used in the marketing plan for Dutch Bros Coffee.
There are over 1.1 million men and woman amateur and pro bodybuilders alone in the United States. The IFBB has competitors age ranges from as young as 16 years to as old as 83 within a range categories for competition, The NutiBullet Pro is a necessary tool to assist the competitors in preparing for competitions fulfilling a need for a quick, convenient and easy way for bodybuilders to create their protein shakes, whey smoothies or one of their required 6 to 7 meals a day.
Dr. Deming, one of the most important elements of a successful business plan, is having an effective marketing strategy. Further, there are four main elements of marketing; product, price, promotion, and place. However, a lot of people confuse marketing with advertisement. Thus, advertisement is just one element of marketing that involves promoting products and services. Whereas, marketing is targeting those products and services in the marketplace. Notwithstanding, a marketing strategy will provide a plan for the business to get the targeted audience to purchase its products and services (Dickson & Ginter, 1987). Moreover, one element of marketing strategy is product-based. A product can be a palpable good or service that meets the needs of
In business, it is important to use various and innovative promotional strategies to expand the demand of your product and to earn more consumers. It is one of the main things a business or a company must do to keep on working. There are 3 different ways to promote a product: to show information to
Pricing is a crucial part of the four Ps. Price is also considered a flexible marketing mix element. Marketers must consider the research, development, and services when pricing. In addition, marketers have to think about the how their company will price their products and services based on how much they will spend on fabrication and how competitors are pricing the same products and services. Customers are an important thought in the pricing process as well because they are the ones that are going to produce the revenue for the company. Marketers are also at the mercy of the economy; they will have to price low enough to get a good number of customers and gain a profit, but no low enough that they will get financially hurt in the process.
A good marketing strategy is a pillar of a successful business. They play a big role for introducing the products to the world and without good promotion, the brands could not survive for longer times. These are types of strategies that could be implemented by Caffe’ Vergnano in Finland.
Westwood, J., 2002, The Marketing Plan: A step-by-step Guide. 3rd ed., London, Kogan Page Limited, p
Marketing play vital role in success of every type of business. The objective of Marketing Plan to skeleton the strategies, tactics and plans to achieve the targeted sales goals.