PepsiCo is a well-established organization that has been producing soft drinks over the years. Recently, the company has managed to make a new product by the name Diet pep that is an energy drink. The company is interested in making a unique drink that will satisfy the customers’ needs in taste and utility.
Our vision is to offer our customers with a drink that not only drives away thirst but also gives energy and strength for better health. We achieve this by ensuring that the contents of the product are of quality and high standards.
Our objective is to grow our sales from the current level by 30% by the end of year one. We also want to increase our market share by 50% by the end of year two.
Our target market is the people who enjoy soft drinks, but they feel that the current products in the market do not give them the utility they require. The target market here will also include children and the elderly as well as any other person who consider taking alcoholic drinks immoral.
Market Definition and Segmentation
Our target includes two types of customers: the religious group and the children and elderly. The religious group has been left out in the consumption of the drinks due to their strong beliefs, and the product will serve to provide a drink in line with their faith. The children and the elderly are also left out, and the new diet pep will provide a reasonable drink which is energy giving.
Target Market Segment Strategy
Our strategy focuses on incorporating the children and the elderly as well as the religious groups who have been left out in the provision of suitable drinks for them. After diet pep gets into the market, we shall conduct some research to confirm whether the product is satisfying the target market needs.
Marketing Plan Strategy
Consumers like identifying themselves with unique products well distinguished from their competitors. Our product will carry a brand name ‘diet pep energy drink’ for differentiation. Our company is also going to rigorously involve in social functions and provide the drink either freely or at a small fee depending on the occasion. The product will be sold relatively cheaper to make it affordable to many consumers.
Expense Budget Summary
|Marketing expenses||Year 1||Year2||Year3|
|staff||$ 5000||$ 3000||$1000|
|Year 1||Year 2||Year 3|
|Sales||$ 25000||$ 40000||$ 65000|
Our company focuses on improvement and rapid upward realization of the objectives. It is for this reason that the team in the marketing department comprises of competent and experienced personnel with a background in marketing. A president with vast marketing experience heads the company, and the managers under him have proven capacity. The employees are self-driven and goal-oriented.
Hiebing, R. & Cooper, S. (2004). The one-day marketing plan: organizing and completing a plan that works McGraw-Hill Professional Press
Manson, C. & Perreault, W. (2002). The marketing game! with student CD-Rom McGraw Hill/Irwin Press