MBA Strategic marketing assignment SH
MBA Strategic marketing Assignment shared
Marketing Plan for Buzz Money Energy Drink, a New Product
Contents
Introduction 2
Current Marketing Situation 2
Product Background: 3
Background Data on Market: 3
Competition 4
Distribution 4
Opportunity and Threat Analysis through SWOT 5
Strengths: 5
Weakness: 5
Opportunities: 5
Threats: 6
Marketing Objectives 6
Marketing Strategy Considering 4P 7
Product Strategy: 7
Pricing Strategy: 7
Place Strategy: 8
Promotion Strategy: 8
Integrated Marketing Communication 9
Segmentation: 9
Targeting: 9
Positioning: 10
Conclusion 10
References 12
Introduction This marketing plan is mainly developed in relation to a new product Buzz Money Energy Drink in Indian markets. Buzz Monkey is mainly a type of energy drink that is produced by an Australian company such as Buzz Monkey Energy and the core feature of this product is that it is mainly a type of energy drink. The product is manufactured through a new unique idea that involves the application of wild plum in producing such energy drink. The main aim of this marketing plan is to launch this product in Indian markets by targeting two important market segments (Anderson & Vincze, 2006). As a result, this marketing plan is focused towards different important aspects related to the marketing of Buzz Monkey Energy Drink in Indian markets. The important areas of analysis that will be covered as a part of analysis in this marketing plan include an evaluation of the current marketing situation, opportunity and threat analysis for the product in Indian markets through applying SWOT analysis, setting up of marketing objectives, marketing strategy for the product in the form of applying 4Ps analysis, and an analysis of integrated marketing communication strategy will be performed for the purpose of achieving effectiveness with respect to the given new product.
Current Marketing Situation As the product chosen for marketing is Buzz Monkey Energy Drink, this section of
Marketing Plan for Buzz Money Energy Drink, a New Product
Contents
Introduction 2
Current Marketing Situation 2
Product Background: 3
Background Data on Market: 3
Competition 4
Distribution 4
Opportunity and Threat Analysis through SWOT 5
Strengths: 5
Weakness: 5
Opportunities: 5
Threats: 6
Marketing Objectives 6
Marketing Strategy Considering 4P 7
Product Strategy: 7
Pricing Strategy: 7
Place Strategy: 8
Promotion Strategy: 8
Integrated Marketing Communication 9
Segmentation: 9
Targeting: 9
Positioning: 10
Conclusion 10
References 12
Introduction This marketing plan is mainly developed in relation to a new product Buzz Money Energy Drink in Indian markets. Buzz Monkey is mainly a type of energy drink that is produced by an Australian company such as Buzz Monkey Energy and the core feature of this product is that it is mainly a type of energy drink. The product is manufactured through a new unique idea that involves the application of wild plum in producing such energy drink. The main aim of this marketing plan is to launch this product in Indian markets by targeting two important market segments (Anderson & Vincze, 2006). As a result, this marketing plan is focused towards different important aspects related to the marketing of Buzz Monkey Energy Drink in Indian markets. The important areas of analysis that will be covered as a part of analysis in this marketing plan include an evaluation of the current marketing situation, opportunity and threat analysis for the product in Indian markets through applying SWOT analysis, setting up of marketing objectives, marketing strategy for the product in the form of applying 4Ps analysis, and an analysis of integrated marketing communication strategy will be performed for the purpose of achieving effectiveness with respect to the given new product.
Current Marketing Situation As the product chosen for marketing is Buzz Monkey Energy Drink, this section of
References: Andreassen, TW. & Olsen, LL., ,(2008), The impact of customers ' perception of varying degrees of customer service on commitment and perceived relative attractiveness, Managing Service Quality, vol. 18, no. 4 Anderson & Vincze, (2006) Berry, LL., (2008), Guiding and inspiring performance through a service strategy, Customer Service Management Magazine, no. 12 Davidow, WH Hart, CW. & Johnson, MD. (2007), Growing the trust relationship, Marketing Management, Spring, pp. 9–19. Heskett, JL., Sasser, WE., & Schlesinger, LA., (1997), The Service Profit Chain, The Free Press, New York Homburg, C., Hoyer, WD., & Fassnacht, M., (2002), Service orientation of a retailer’s business strategy: Dimensions, antecedents, and performance outcomes, Journal of Marketing, vol. 66 Hoffman, K Hooley & Graham, H. (2008). Marketing Strategy and Competitive Positioning. Pearson Education. Lamb,C Pride, W.M. & Ferrell, O.C. (2010). Foundations of Marketing, 4th ed., engage Learning. Sengupta, S. (2005). Brand positioning: strategies for competitive advantage. 2nd ed. McGraw-Hill Education.