21 Aug Due Week 5 and worth 100 points
Due Week 5 and worth 100 points
This assignment consists of two sections: a marketing plan (Word document) and Marketing Budget (Excel document) Note: You must submit both sections as separate files for the completion of this assignment.
For the first 6 months your company is in business—to give you time to perfect your product and to learn from actual customers—you will start marketing and selling in your own community, a radius of 25 miles from where you live.
For most non-alcoholic beverages, marketing (as opposed to the actual product itself) is key to success. Cola drinks, for example, are fairly undifferentiated, as are many energy drinks, juices, bottled water, and the like.Companies producing these types of beverages differentiate themselves and attract market share through marketing and brand awareness—both of which are critical to success.
Section 1: Marketing Plan and Sales Strategy (MS Word or equivalent)
Write the 3–5-page marketing plan and sales strategy section of your business plan in which you do the following:
- Define your company’s target market.
- Analyze the types of consumers who will be drinking your beverage in demographic terms (i.e., age, education level, income, gender, ethnic group, etc.). Outline the demographic information for your company specified on the worksheet in the course text (p. 107 | Demographic Description).
- Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
- Hints: At American FactFinder (http://factfinder.census.gov), you will find demographic information on potential consumers in your area. If you are selling through other businesses (such as grocery stores), indicate the number of those businesses in your local area. You will find information about such businesses in your local area at County Business Patterns (http://www.census.gov/econ/cbp/). Check Chapter 2 of Successful Business Plan for more research sources.
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