BUS599 Strayer Auntie Rena Lemonade Marketing Plan and Sales Strategy
This is the second in a series of papers. I have attached a formatting
document as well as reference material and a description of the
hypothetical company. PLEASE READ ALL DOCUMENTS BEFORE STARTING THE
Assignment 2: Marketing Plan
Due Week 5 and worth 100 points
This assignment consists of two sections: a marketing plan (Word document) and Marketing Budget (Excel document) Note: You must submit both sections as separate files for the completion of this assignment.
the first 6 months your company is in business—to give you time to
perfect your product and to learn from actual customers—you will start
marketing and selling in your own community, a radius of 25 miles from
where you live.
For most non-alcoholic beverages, marketing (as opposed to the actual product itself) is key to success. Cola drinks, for example, are fairly undifferentiated, as are many energy drinks, juices, bottled water, and the like.
Companies producing these types of beverages differentiate themselves
and attract market share through marketing and brand awareness—both of
which are critical to success.
Section 1: Marketing Plan and Sales Strategy (MS Word or equivalent)
Write the 3–5-page marketing plan and sales strategy section of your business plan in which you do the following:
- Define your company’s target market.
the types of consumers who will be drinking your beverage in
demographic terms (i.e., age, education level, income, gender, ethnic
group, etc.). Outline the demographic information for your company
specified on the worksheet in the course text (p. 107 | Demographic Description).
- Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes).
- Hints: At American FactFinder (http://factfinder.census.gov), you will find demographic information on potential consumers in your area. If
you are selling through other businesses (such as grocery stores),
indicate the number of those businesses in your local area. You will
find information about such businesses in your local area at County Business Patterns (http://www.census.gov/econ/cbp/). Check Chapter 2 of Successful Business Plan for more research sources.
- Assess your company’s market competition.
- Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company’s market competition.
your plan to differentiate yourself from the competition using the
information detailed on the worksheet in the text (p. 131 | Market Share Distribution).
- Hints: Every business faces competition, and the non-alcoholic beverage market is an especially crowded market.
For example, in the soft drink market, it is intimidating to try to
compete against Coke and Pepsi. Newcomers in mature markets typically
must pursue niche markets or even create new market categories, as Red
Bull did with energy drinks.
- Clarify your company’s message using the information provided on the worksheet in the text (p. 160 | The Five F’s). Create a marketing slogan/tagline for your product.
- Hints: Before you choose your marketing vehicles, you must determine the message you want to convey through those vehicles.
the marketing vehicles you plan to use to build your company’s brand.
Justify the key reasons why they will be effective.
- Hints: If you plan to use online marketing tactics, refer to the worksheet in the text (p. 171 | Online Marketing Tactics) to aid your response. Remember that even
if you’re selling through grocery stores, you need to build your brand
and social media is a major part of that in regard to beverages. Some
of the marketing tactics that beverage companies use include sampling
in grocery stores, building a following on social media, sponsoring
events, and exhibiting at trade shows attended by retailers. You will
use a combination of these tactics. For example, if you decide to give
out samples in grocery stores, promote your sampling on your social
media networks and those of the grocery store.
If you are planning to distribute through resellers, describe how you
plan to reach them, for example, through industry trade shows or by
establishing your own sales force. For information on trade shows, visit the Trade Show News Network (http://www.tsnn.com). You can exhibit or network at these shows.
- Format your assignment according to these formatting requirements:
- Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
paper must be typed, double-spaced, using Times New Roman font (size
12), with 1-inch margins on all sides; references must follow APA
format. Check with your professor for any additional instructions.
a cover page containing the title of the assignment, the student’s
name, the professor’s name, the course title, and the date. The cover
page and the reference page are not included in the required page
Section 2: Marketing Budget (MS Excel worksheets template)
2 uses the “Business Plan Financials” MS Excel template (see: Required
Course Files in Week 1). Use the Business Plan Financials Guide (see:
Required Course Files in Week 1) to support your development of the
- Complete the “Marketing Budget” worksheet for your company.
Complete the Setup tab first based on the instructions located in the
Business Plan Financials Guide (document you also downloaded from
PlanningShop). Only the setup tab and marketing tab should be completed
for this assignment.
The goal of the marketing budget is to help you determine how much it
will cost you to reach your market and achieve your sales goals.
- Hints: When filling out the “Marketing Budget” worksheet in the Excel spreadsheet, do the following:
in the current year and complete a marketing budget for the first year
of your business. The information you enter in the marketing budget
spreadsheet will flow through to your “Income Statement” in the
“Business Plan Financials.”
- Leave the number at zero (0) for any marketing vehicles you do not intend to use.
that all marketing activities involve costs. If social media represents
a significant portion of your marketing, assume you will incur costs of
advertising and these should be reflected on your budget. Even if a
social media site charges nothing to use it, you will need to use
company resources to manage the site, pay someone to execute your social
media marketing campaigns, and most likely pay for ads on that site.
- Do not leave the “Marketing Budget” blank assuming you will not have any marketing costs.
not complete all the rows; only fill in the costs for the marketing
vehicles you will actually use. These must match the content you
describe in Question 4 Word portion of this assignment.
The specific course learning outcome associated with this assignment is:
a marketing plan that identifies a target market, market competition, a
company message, and marketing vehicles for a company.