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The link between social media and business
The link between social media and business
Case study for sole proprietorship
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Galaxyade is a drink company that is 6 months into business. The business is a Sole Proprietorship, and my product is a drink that comes in seven different flavors and contains edible glitter for a galaxy like look. The target market for the product will be teenagers, young adults and anyone who likes lemonade. I will be selling seven different flavors of Galaxyade. The flavors are original, watermelon, blackberry, raspberry, mango, strawberry and lime. Some of the features and benefits the product will sell is a unique experience for the buyer and special codes for social media. I would like to have a known position in the market it doesn't need to be as big as Coke-a-cola or Pepsi, but it is known so when someone goes to the store they …show more content…
The product line is currently at seven and new products are planned to be introduced. The products to be introduced may be new flavors of lemonade or other beverages. The image the company is trying to develop is uniqueness. The pricing strategy for Galaxyade is everyday low price. I will compare to competitors by having a unique product at a good price. People will pay the price for the product at its price since it will be close to the price of other drinks with a unique factor added. When payed for online the drinks can be bought with credit cards and in stores whatever the store takes. I can value to the product to help make it stand out in from the competition by making the product have nice packaging along with the unique product. The target market for Galaxyade is young adults and teenagers. To help reach this target market social media will be important in promoting it by motivating them to purchase it by using the different design and weird idea to dell it. The cost for this verys during different releases and times of the year, but the cost will pay for the employees to create the social media posts and interact with …show more content…
Some of the terms are that if the leaser chooses to sell it that the company has the first opportunity to purchase it and to make changes to the structure we must consult the leaser. Renovations and modifications are always being made so prices can not be exact but the company sets aside a few thousand every month. The property is almost outside of city limits, and it is medium size location with a showroom and other rooms for customers to communicate with employees. It is a good location for the business because it is out of the way and the products can be created but if needed customers can visit. We work with the portland bottling company to create our beverages.The biggest competition will be other normal lemonade and beverage companies such as minute maid since they are cheaper and more normal
Attractive Appeal & Get Attention– Here you can be as innovative, artistic and creative as you want, within the limits of compliance laws, of course. Create a theme with pictures and colors that take positioning into account. For example, if you want your product to be perceived as jovial and festive, then you'll want to think about using bright colors and images of people laughing or smiling, perhaps. Your goal is to get your consumers to not only notice your product, but to also trigger positive emotions of trust and loyalty. You want to think outside of the box and see if you can come up with unique and interesting ways to catch attention. Study some of your competitors, especially the ones that are thriving. What kind of packaging are they using? Test out some of their products, and note down your feelings. Look at products that you use and love. What drew you to the packaging? A good example of great product packaging is Magnum Ice Cream. The white chocolate flavor comes in black and gold packaging, radiating emotions of prestige, stability and power – all that from just ice
Marketing is one of the biggest causes as to why drinking is all around us. Marketing is the achievement of promoting and selling products or services, which also includes ...
As stated in the case, “the market for energy drinks was growing; between 2010 and 2012, the market for energy drinks had grown by 40%. It was estimated to be $8.5 billion in the United States in 2013 [and] forecasts projected that figure to reach $13.5 billion by 2018” (pg 5). However, much of this market’s revenue -- 85% in fact -- is dominated by five major brands, while the remaining 15% is split between approximately 30 regional and national companies. (pg. 5). With this saturated market, it might not be best for Crescent Pure to enter as a completely new product to the industry, as there is the possibility that it will be squeezed out of the profit shares by more established brands -- especially if it is not properly secure in its identity. In addition, while the market for energy drinks appeared to be growing at an exponential rate compared to the market for sports drinks -- which increased only 9% in five years and would be at approximately 60% of the rate for energy drinks in 2017 (pg 6) -- the consumers appeared to be wary of partaking in the market for several reasons, which would potentially harm the reach of Crescent Pure. These concerns included rising news reports discussing the safety of energy drinks (pg. 5). Taking into consideration the data provided in the case that concerns reasonings of why consumers choose specific drinks over others, there
The beverage industry is highly competitive and presents many alternative products to satisfy a need from within. The principal areas of competition are in pricing, packaging, product innovation, the development of new products and flavours as well as promotional and marketing strategies. Companies can be grouped into two categories: global operations such as PepsiCo, Coca-Cola Company, Monster Beverage Corp. and Red Bull and regional operations such as Ro...
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
Companies utilize different marketing strategies to appeal to their target audience. The methods they use to market their products usually reflects the target audience’s preferences or needs. Gatorade was invented at the University of Florida in 1965 by a team of researchers. They discovered nutrients were not being replenished when the school’s football team competed and formulated a solution to the problem. Today Gatorade primarily targets athletic or physically active individuals, especially professional athletes. Over time, Gatorade has become one of the most popular and leading sports drink companies in the world. Many people recognize what Gatorade is and what they do to help individuals who need the extra replenishment so they can continue
Starbucks is the world’s largest coffee roaster and retailer of specialty coffee in the world. We have enjoyed great dividend returns over the past 5 years, and our growth has been on the rise. We are currently saturating the US market, while the emerging markets of developing countries offer many possibilities for growth and increased revenues. In our US market we should look at offering more items on the menu that complement our long-standing tradition of pleasing our customers. Exotic Juices, and snacks served with the same service could add a nice margin to the bottom line. In addition, the ability to offer a drive through service for the consumer that loves fine coffee but does not have the time to stop and visit should be on our “trial” market plan for the next few years.
In order for Lime-A-Rita to successfully evolve, it is important to understand the marketing mix to reach the full product potential. For Product, Lime-A-Rita was launched as a revolutionary alcoholic beverage that reinvented the traditional margarita and put it in a can to be enjoyed without hassle. Being the first brand led by a team of female professionals, the target market strategy then focused their attention towards women and those with a sweet preference. As for Product Development, Lime-A-Rita consisted of only one flavor, but the list of the flavors and product extensions has multiplied. When considering Place, Lime-A-Rita is widely distributed down the distribution channel to reach a high volume of their target market.
By quality/value – positioning of the product based on high quality. Also can be claimed that the product have high value.
By following the strategy that I have given, we can monitor the sale of our product. Once we see an increase in revenue, we can increase our advertising campaign to directly penetrate household markets through TV and/or radio. All of these numbers and strategies seem to line up for a successful product.
Diageo has long been the front-runner in the premium drinks business. Its brands include Guinness, Smirnoff, Bailey's, Johnnie Walker, and Cuervo complimented by broad range of local and specialty brands from around the world. In 2002, Diageo held a 15% (United States-Spirits, 2002) market share and was by far the leading manufacturer of spirits in the United States followed by Pernod, and Fortune Brands, Inc. The market is expected to have 9.8% (Huddleston, 2005) growth in the next three to four years, so new entrants may find the going hard unless they have capital to sustain themselves.
How to Position the Product in Relation to Other Products – Where to sell/to whom do you sell? The Right Marketing Mix – Is the product right? , Is it sold in the right market? right places? , At the right price?, Is the product promoted in the right places?
The A-Team has introduced a new product called Pepsi Platinum for the company, PepsiCo, in Phase Two. This dissertation will identify segmentation criteria that will impact PepsiCo target market selection. This dissertation will describe the organizational buyers and consumers of Pepsi Platinum and factors that influence their purchasing decisions and discuss how these factors will impact PepsiCo’s marketing strategy. Finally, this phase shall analyze current competitors and define the competitive landscape for Pepsi Platinum.
This is based on the fact, that the small market volume does not enable brands a dynamic development of its positioning. At the opposite extreme, there are markets, which are constantly subjected to change in customers’ needs and preferences. The increasing heterogeneity of this kind of markets represents a challenging aspect for a positioning and requires high individualization (cf. Feddersen 2013, p. 54).
Product positioning is to use certain features of the product to position against the product of competitor. With the help of this marketing activity, marketers can attract more customers by focusing of special features of their product.