Marketing of a Sports Drink Marketing Plan

Pages: 3 (940 words)  ·  Bibliography Sources: 2  ·  File: .docx  ·  Level: Master's  ·  Topic: Business - Advertising

Marketing

In order to market this new sports drink, the different elements of the marketing mix need to be developed (Kotler & Keller, 2012) . The old four Ps include product, which here is a run-of-the-mill sports drink and a gimmicky bottle. The price will probably be premium. The positioning will have to be premium, and it will probably trade on the funky bottle. The promotion is likely going to focus on this message as well, and with the distribution being saturation in order to match the promotions of competitors. Thus, the product will be utilizing a differentiated strategy. Budget-wise, this is something that will compete against national firms with large marketing warchests, so hopefully we are similarly equipped. Also, a P. that is not normally mentioned is important here -- patent. The bottle is the main source of competitive advantage, so that patent needs to have ironclad protection, making it difficult for competitors to develop anything even close to it. If we innovate and lose that advantage two months later, we're done.

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Kotler and Keller support the idea of a new four Ps, which are people, processes, programs and performance. The idea behind people is that the people within the organization are key to success. So the first step in marketing this product is to put a good team together. The product itself is unspectacular -- most people already have refrigerators so the only thing this bottle does is make it a little more portable, for hiking, kayaking, etc. It is going to be priced higher than competing products, without adding much benefit to consumers, and it doesn't have half the brand that the major competitors have. We are going to need good people to sell this thing. On my team, I want people who have sold sports drinks, but I also want people who have sold products of little marginal utility for a premium price.

TOPIC: Marketing Plan on Marketing of a Sports Drink Assignment

Processes, as described by Kotler and Keller, focuses on creativity and structure. In this case, the objective has to be to overcome the faddish nature of this product. Many people might give the product a try, but the key is to make sure they buy it again, and again. Obviously the product will need to be a part of that, but the marketing process is going to play a role. The team needs to ensure that it not only has a great idea to start, but that it continues to generate great ideas. Some of the advertising is going to be outsourced, but it is essential that the company puts up the right amount of money in order to secure the best agency to produce those eye-catching ads. In addition, we need to continuously be on top of the marketing information, getting the right feedback. We must always update the information. So again,… [END OF PREVIEW] . . . READ MORE

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Marketing of a Sports Drink.  (2012, April 14).  Retrieved September 21, 2021, from https://www.essaytown.com/subjects/paper/marketing-sports-drink/7145

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"Marketing of a Sports Drink."  Essaytown.com.  April 14, 2012.  Accessed September 21, 2021.
https://www.essaytown.com/subjects/paper/marketing-sports-drink/7145.