Marketing Plan Essay Example | Topics and Well Written Essays - 1500 words - 2

Marketing Plan - Essay Example This is a functional drink and can be made available in different flavors to suit different tastes. With the mission to reach the product to the vast majority of the people, it has been decided to undertake a marketing plan which includes stating the marketing objectives, the research to forecast the demand and then the marketing strategy. To determine the demand that could be generated for this new product, it is considered necessary to conduct a survey. To conduct the survey market segmentation is necessary so that the target market is studied rather than the whole market. Since this is a health drink and that too a milk product, focus would be on the children between 6 and 18 years and the women. The segmentation would further be based on psychographic details like lifestyle and social demographics like the income level. Thus to conduct the survey questionnaires have been designed (Appendix A). These questionnaires would be sent out via emails to housewives. The addresses would be procured from the local clubs and women’s organizations. Questionnaires would also be sent to the local clubs and organizations where a large number of women are employed. The marketing mix of any product would include the right product at the right time in the right place with the right sales and promotion strategy and at the right price. To have competitive positioning, these are the four P’s (Product, Price, Place and Promotion) very essential for marketing any product. To ensure good sales of our product and services, it is essential to understand the product, its need and importance, the price should be reasonable, if necessary dual pricing, the product should be easily available hence distribution has to be right and finally the right awareness of the product. The promotional strategies have to be taken into account depending on competitive factors. The product is new in the market with a focus on health and targeted at children and the women and hence success is