Marketing Plan Example
Kaplan University
Graduate School of Business and Management
GB530 Marketing Management: Brand Extension Marketing Plan
Tazo Spa
“Tea the Beauty Inside”
Written by: Kari Hazen
17th November, 2009
2.0 SITUATION ANALYSIS
Tazo Tea is known for its unique flavor combinations and holistic approach to tea. They have created a name for themselves within the beverage market and are now looking to expand into the home spa market. Taking the philosophy they have used with their tea making and providing consumers with a spa product line that meets their needs in a natural, environmentally friendly and consumer friendly way. The market that will be targeted is young professionals and baby boomer women that are looking for a way to rejuvenate and relax at home. Development, marketing, and production are the current focuses of the company in order to grasp a part of the already competitive market.
2.1 Market Summary
The target market for Tazo Spa is young professionals and baby boomer women that currently are searching for the best alternative to spending money at a spa. These women are looking for environmentally friendly and consumer friendly products that meet their relaxation, rejuvenating, and renewal body needs.
Currently the spa market is holding strong despite the recent economic decline, however with disposable income becoming smaller; people are seeking ways to relax at home. Because of this our projections for the growth of the market are positive. With this in mind, and our creative approach to our products, we project our share of the market to grow 3% in the first year and additional 5% in the second year because of how convenient and easy it is to purchase.
2.1.1 Market Demographics * Demographics * Women make up over half of the Tazo Spa consumers. * Ages 18-49 with 43% being young professionals and 47% being baby boomers. * Primarily Caucasian with a $60K+ household income and a college
Graduate School of Business and Management
GB530 Marketing Management: Brand Extension Marketing Plan
Tazo Spa
“Tea the Beauty Inside”
Written by: Kari Hazen
17th November, 2009
2.0 SITUATION ANALYSIS
Tazo Tea is known for its unique flavor combinations and holistic approach to tea. They have created a name for themselves within the beverage market and are now looking to expand into the home spa market. Taking the philosophy they have used with their tea making and providing consumers with a spa product line that meets their needs in a natural, environmentally friendly and consumer friendly way. The market that will be targeted is young professionals and baby boomer women that are looking for a way to rejuvenate and relax at home. Development, marketing, and production are the current focuses of the company in order to grasp a part of the already competitive market.
2.1 Market Summary
The target market for Tazo Spa is young professionals and baby boomer women that currently are searching for the best alternative to spending money at a spa. These women are looking for environmentally friendly and consumer friendly products that meet their relaxation, rejuvenating, and renewal body needs.
Currently the spa market is holding strong despite the recent economic decline, however with disposable income becoming smaller; people are seeking ways to relax at home. Because of this our projections for the growth of the market are positive. With this in mind, and our creative approach to our products, we project our share of the market to grow 3% in the first year and additional 5% in the second year because of how convenient and easy it is to purchase.
2.1.1 Market Demographics * Demographics * Women make up over half of the Tazo Spa consumers. * Ages 18-49 with 43% being young professionals and 47% being baby boomers. * Primarily Caucasian with a $60K+ household income and a college