Assignment 4: Part D: Your Marketing Plan – Presentation
expanded to become one of the largest food and Beverage Company in the American market.
Our company produces a wide range of sport drinks among them Moonlight, Sun Dew, Tropicana Mix, SFI Energy, Mountain Fruit Juice, and Mist Dew. Additionally, the company is planning to launch a new sports drink –Splash Flavor –which is caffeine free and is packaged in a special can that keeps it cool for up to six hours. Our products are distributed across seven states in U.S. These states include: New York, California, Oregon, Washington, Washington DC, Illinois, and Virginia. In 2018, the company generated annual revenue of $10 billion –becoming the 7th largest sports drink company in U.S.
Splash Flavor Inc. aims at building a brand that will compete not only in U.S. but also abroad. We strive to drive both financial and shareholder value while taking into consideration human and environmental sustainability. Moreover, we aspire to become the world’s premier producers of caffeine free sport drinks which are healthy compared to other energy drinks in the market. In order to achieve this goal, our company depends on ethics, understanding an innovation with an aim improving the lives of consumers, employees, and business partners. Our energy and efforts are directed towards quality and health characterized by natural ingredients which results to customer satisfaction.
To become a leading, reputable producer and distributor of health sport drinks both locally and internationally. Our mission statement is guided by our core values of responsibility, accountability, and value for our shareholders including employees, customers, and business partners. To our consumers, we are focused on producing healthy products that are caffeine free. To our employees, we strive to take their welfare seriously in order to ensure massive productivity and performance. For the business partners, we observe integrity, honesty, and fairness by entering into clean businesses deals with them. For investors, our company strives to add value to their capital invested in developing the organization. Our main aim is to generate shareholder value and very sustainable environment for our stakeholders. We strive to attain superior financial performance while addressing environmental and social issues in order to deliver our agenda.
The company’s goals are divided into two categories: short term and long term goals. Short term goals are set to be achieved in the next one year while long term goals are those which should be achieved in the next five years.
Table of Short Term Goals
Measurement of goal
The company should make at least $800 million annual revenue this year.
This goal would be measured on quarterly phases of the trading period. The company intends to record quarterly sales revenue of at least $200 million dollars for this target to be measurable.
The company should engage consumers especially using direct selling in the market
The company intends to incorporate integrated customer relation management software to aid in the measuring points of engagement between the customer and the business; corrective actions can be implemented to eliminate interactions that shun away customers.
The company should retain its highly skilled employees and attract potential ones. Customers should be attracted and retained to guarantee profitability.
Measured by low turnover rates among members of staff not exceeding 5% annually
Increase in sales of company products. This is an indicator that the company is attracting and retaining customers.
Improve the website to ensure that it is easier to navigate hence attracting more customers
Measured by embedding cookies within our website to harness data of the visitors and conduct statistical analysis on the numbers.
Our prices should reflect benefits that a consumer derives from a product
Analyzing the cost of other products in the market and setting our prices to reflect the best price compared to other alternatives.
Table of Long Term Goals
Measurement of goal
The company should strive and add a new product to our line every year for the next five years
Our company should be among top four sports and energy drinks companies in United States
This would be measured by market capitalization of the company in comparison with rivals in the market
External Environmental Analysis
Our primary competitors in this business are established brands in the sports energy drinks like Coca cola and Pepsi. In spite of their huge investments in the sporting arena through sponsorship deals that almost guarantee a complete monopoly, we would rely on continuous innovations to penetrate this tough market. The market is ready for a credible alternate.
The low inflation rates and declining employment rates in the United States would have a significant effect on our business brand. Low inflation rates would facilitate price stability of our products leading to customer confidence (Jonathan & Michael, 2016). Low unemployment rates indicate an increase in the purchasing power of consumers leading to increased sales of our products.
The relaxations on the rules that govern business operations by the current administration are beneficial to our business model due to less compliance costs. The diplomatic relations between Trump administration and other countries threatens the international markets for our products. As the U.S. government continues to impose trade sanctions on other countries, there is a lot of retaliation from the sanctioned countries limiting our products in the international market.
There are legal restrictions that govern the sports drinks industry in U.S. For instance, the products should not contain any harmful ingredients. Also, there are laws that govern competition in the market, that is, companies should engage in healthy competition in the market.
The growth in technology is impacting greatly to our company due the development of systems that allow customers to shop online without the need to visit retail outlets and stores. Hence, our company should develop an ecommerce system that allows customers to order products online. The advent of social media is transforming the manner in which advertising is done (Jonathan & Michael, 2016). We intend to create dedicated social media pages to our product to enhance marketability.
U.S. is a multicultural country characterized by people with different values and beliefs that affect their purchasing behavior. Hence, the company should consider these values when developing their products and marketing programs so as to remain relevant in the market.
· Superb ingredients
· Special packaging for cooling
· Affordable pricing
· Growing economy
· Diversity in sports industry
· Newness to the industry
· Absence of online commerce
· Tough competitors
· The newly launched Splash Flavor drink is caffeine free, healthier and attractive to consumers.
· Our new product is packaged in a special container that makes it cool to up to six hours for maximum satisfaction.
· Our drinks are cheaper compared to others in the market giving us a pricing advantage over others.
· Our company is still young compared to other key players in the industry
· We do not a have strong ecommerce system to allow customers to purchase products online
· Lack of strong and appropriate marketing strategies
· The sporting industry is growing hence more demand for sports drinks which means an opportunity for our company.
· The country’s economy is also growing hence giving our companies and others in this industry an opportunity to grow.
· The company is facing a lot of competition from companies like PepsiCo Inc.
· Lack of strong financial muscles to sustain market research and other operational activities.
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