Marketing Plan: Phase Iii
Marketing Plan: Phase III Paper
Marketing
MKT 421
April 21, 2008
Marketing Plan: Phase III Paper A clear vision and strategy has been developed for Gatorade’s new energy drink the Drive Energy Drink. With that said, the next step to developing the product is to determine the attributes, the product life cycle, and positioning and price strategy of the product. Knowing the right look and feel of the drink can increase sales and use of the product. How will the product be introduced to the consumers? How long will the product last on the market until new ideas will need to be developed? What position will the drink have in the market and how will it differentiate among its competitors? What prices will the product be sold at to withstand alleviation from the market? These are all questions that must be answered and properly addressed prior to the development of the Drive Energy Drink. Throughout this paper, Learning Team A will comment and strategize the next steps in developing the Drive Energy Drink
Description of the Attributes of Drive Gatorade has created a new energy drink that is filled with ingredients to give individuals oomph to last a whole day or more. The features, functions, and benefits of this product will help with the marketing of this product (MarketingPower, 2008). The main ingredients in Drive energy drink are caffeine and ephedrine. Both of these ingredients give the energy needed for an athlete to perform in sports, for a career person to make it through the day, or for a student to get through a long night of studying. In order to attract the targeted audience to Drive energy drink, Gatorade has to design a packaging that will catch their eye. Being that Drive energy drink is fuel for the body, Gatorade has chosen the theme of different types of cars-vintage hotrod, cutting edge racer, and professional racecar. The vintage hotrod will be the Drive Cruiser. Its flavor will be a sweet strawberry flavor with hints of
Marketing
MKT 421
April 21, 2008
Marketing Plan: Phase III Paper A clear vision and strategy has been developed for Gatorade’s new energy drink the Drive Energy Drink. With that said, the next step to developing the product is to determine the attributes, the product life cycle, and positioning and price strategy of the product. Knowing the right look and feel of the drink can increase sales and use of the product. How will the product be introduced to the consumers? How long will the product last on the market until new ideas will need to be developed? What position will the drink have in the market and how will it differentiate among its competitors? What prices will the product be sold at to withstand alleviation from the market? These are all questions that must be answered and properly addressed prior to the development of the Drive Energy Drink. Throughout this paper, Learning Team A will comment and strategize the next steps in developing the Drive Energy Drink
Description of the Attributes of Drive Gatorade has created a new energy drink that is filled with ingredients to give individuals oomph to last a whole day or more. The features, functions, and benefits of this product will help with the marketing of this product (MarketingPower, 2008). The main ingredients in Drive energy drink are caffeine and ephedrine. Both of these ingredients give the energy needed for an athlete to perform in sports, for a career person to make it through the day, or for a student to get through a long night of studying. In order to attract the targeted audience to Drive energy drink, Gatorade has to design a packaging that will catch their eye. Being that Drive energy drink is fuel for the body, Gatorade has chosen the theme of different types of cars-vintage hotrod, cutting edge racer, and professional racecar. The vintage hotrod will be the Drive Cruiser. Its flavor will be a sweet strawberry flavor with hints of
References: GlaxoSmithKline. (2007). Business 2000: Consumer healthcare. Retrieved April 17, 2008 from http://www.business2000.ie/glaxo/index.htm MarketingPower. (2008). Dictionary of marketing terms. Retrieved April 18, 2008 from www.marketingpower.com. PepsiCo, Inc. (2007) Performance with Purpose [Internet], MarketWatch. Retrieved April 17, 2008 from http://thomson.mobular.net/thomson/7/2222/2446 Rosenbloom, B. (2004) Marketing Channels: A Management View. 7th ed. Tracy, Brian. Customers for Life. Differentiation Strategy. (2008) [Internet] Retrieved: April 19, 2008 From http://www.1000ventures.com/business_guide/differentiation_strategy.html University of Idaho. (2007) Drive [Internet], Moscow. Retrieved April 17, 2008 from http://www.cbehome.uidaho.edu/default.aspx?pid=104189