24 Jul You work for an international food and beverage company, and t
You work for an international food and beverage company, and the CEO of the company wants to introduce a new beverage product in the US market for 2021. Your team is charged with the following tasks: Develop a new beverage product concept that can be brought to market by 2021. The product should have broad appeal for the US market (i.e., nothing illegal or distasteful). Present a five-year marketing plan to upper management that includes a description of the product, a plan for where it will be sold, a summary of the existing competition, and recommended promotion strategies that can help to sustain sales volume and profits for several years. The CEO is especially concerned about the risks of a recession in the next 2-3 years, so your plan should consider ways to make the new product less susceptible to recession.You should assemble a document that addresses each of these components for the product launch. The points assigned to this project are evenly divided among 5 components — product description, competition summary, marketing and promotional strategies, recession resilience, and presentation quality. So, you should allocate most of your effort to the economic components of this analysis.
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