MARKETING PLAN ENVIRONMENTAL ANALYSIS
Marketing environment for the company’s product
The company in question is a soft drink company which was developed so as to manufacture green cola that has more health benefits compared to the most currently used soft drinks globally. With respect to the competitive environment, the company is expecting to face stiff competition from the already existing soft drink companies such as Pepsi Co. and Coca Cola Company, which has the lion’s share of the consumer base. The green cola will, however, have a competitive advantage of the health benefits it has against the normal soft drinks. With respect to the economic environment, prices of the product will be made low to ensure everybody can afford no matter how the economic conditions may fluctuate. Politically, as long as countries experience political stability, the business will continuously thrive (Armstrong, Kotler, Harker & Brennan, 2015). The company will not only operate in the USA but also in other regions of the world. This will therefore be important in making sure the company abides by the manufacturing regulations including issues of taxes associated with the different countries in the world. Sociocultural forces are expected to favor this drink bearing in mind most people are bringing much attention to their health condition as a result of the consequences in which chronic diseases have. The company will have to focus on technological trends especially within the marketing section to ensure it uses the latest marketing tools in reaching out to all potential customers.
Current target market
The main target market for this product are the young people, youths between the age of 18 and 35 years. This is a group that has the tendency of partying and soft drinks are one of the most commonly used drinks in parties as well as celebrations. The target group can also afford cheap soft drinks in their own without having a backup, for instance, such as parents. Health is the main need of most youths who have knowledge of the kind of diseases in which most soft drinks have been associated with (Kotabe & Helsen, 2014). The company will launch this product as the first flagship program towards focusing on the health of its consumers.
Current marketing objectives
The following are the currently objectives the company will be considering:
· Improving awareness of the product
· Increasing sales
· Establishing the product within the industry
· Management of the brand
The above objectives are sufficient even in a changing environment; despite how the industry environment may change, the company will still be on its course to improve awareness, increase its sales, establish the product and also manage its brand not only locally but also globally.
MARKETING PLAN SWOT ANALYSIS
The company boasts of a vast distribution network which has been enabled through franchising of the business in the different regions of the world. It is also the only company that solely focus on green soft drinks thus creating a competitive advantage. The company is also investing towards having a vast global presence that will be another added strength. Excellent water management techniques is also another key strength bearing in mind this a soft drink company which utilizes water as its main raw material.
Diversification of the products is low and this may limit the number of customers who may prefer other tastes and flavors. The company’s brand has not been fully recognized globally despite the efforts the company is putting.
The company has lots of opportunities with respect to growth and expansion to other regions of the world. The company also has the opportunity to invest towards research and innovation that will be important in creating a diversified product base. There is the opportunity to focus on the developing nations in which trends show that they are moving to healthy beverages. The company can also extend its target customer base to also include the elderly people.
Competition remains to be the biggest threat the company will face. Most global companies within the soft drink industry have already established themselves and thus offering stiff competition to this company which began just recently.
Ways to match strengths to opportunities
Investment towards vast global presence will provide the opportunity to increase customer base and also increase sales. Water management strength will provide the opportunity to cut on costs of production hence increasing revenue. Lastly, focusing on green soft drinks provides the opportunity to gain a competitive advantage.
Ways to convert weaknesses into strengths and threats to opportunities
Research and innovation will be key in converting weaknesses into strengths. The company should invest into innovation and research which will help it in developing a diversified product line that will align with the needs of the customers. To convert threats into opportunities there will be need to establish a competitive advantage against the main competitors within the industry (Barney, 2014).
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Kotabe, M., & Helsen, K. (2014). Global marketing management.
Barney, J. B. (2014). Gaining and sustaining competitive advantage. Pearson higher ed.