LASA 2 MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY WBC

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timer Asked: Nov 7th, 2017
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Question description

Throughout this class you have examined a product of the Waters Bottling Company and addressed market concepts/ theories that will play a role in the success or failure of that given product.


Using the Waters Bottling Company in Module 1, continue to build the Marketing Plan Sections for the product you have selected/ created. Complete the following in MS Word: Be concise but complete in your analysis of each plan element. Your employer wants to know you have left nothing out in your analysis.

This assignment represents Section 5 of the Marketing Plan. Use the guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 5– Personal Selling & Global Markets (Module 5).

Section 5 – Promotion Mix/ Personal Selling & Global Markets (Module 5 LASA 2)

  • Promotion Mix
    • Advertising
    • Personal Selling
    • Sales Promotion
    • Direct Marketing
    • Public Relations
  • Brand Management
    • Branding Strategies
    • Emotional Branding
    • Brand Extension
  • Global Markets
    • Opportunities & Challenges
Executive Summary
  • Marketing Implementation & Evaluation
  • Careers in Marketing

You will create a complete Marketing Plan by the end of the course. You will write the Fifth and last section of the Marketing Plan for this assignment. Use the Marketing Plan guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 5 – The Promotion Mix/ Personal Selling & Global Markets (Module 5).

Relate all responses using the WBC scenario and the product you have selected to market in Module 1.

Create a 4- to 6-page Word document for this Marketing Plan Section. Apply a standard business writing style using the Market Planning Guide sections as your (headers/ sub heads/ bullets) to your work. Be sure to cite your work in the APA format.

After completing Section 5, assemble and submit all of the sections into a single comprehensive Marketing Plan document. Include a Title Page, Executive Summary, Table of Contents, and Appendix. Your Executive Summary should be compelling as you sum up the marketing elements that are the keys to the successful execution of this plan.

Careers in Marketing

  • List the sections of the marketing plan.
  • Identify possible careers associated for each section.
  • Select two of those career choices and discuss the skills required to secure these two positions.
  • Determine what steps you can take to develop those skills.

Be sure to provide supporting evidence for your statements. Remember to reference your sources of information.Apply a standard business writing style (headers/ sub heads/ bullets) to your work but be sure to cite your work in the APA format.

Assignment 2 Grading Criteria

Maximum Points

Evaluate the Advertising media for your advertising campaign. Select a theme, analyze and select your media choices. Include your rationale for your media selection.

30

Discuss the role of Personal Selling for this product. Develop the elements of the typical Sales Cycle for this product.

30

Examine and select which of the Sales Promotions you will use for this product.

30

Select the Direct Marketing activities you will employ.

20

Identify the role of Public Relations and how it will be utilized to promote your product.

20

Describe the Branding Strategy you will use for your product.

15

Discuss how Emotional Branding will be used.

15

Explore possible Brand Extensions for the product.

15

Analyze the Global opportunities present for this product and the challenges it will face in the global market.

15

Create an Executive Summary to include the Marketing Implementations and Evaluations for a compelling finish to your Marketing Plan.

30

Assemble all revised Marketing Plan Sections into a single comprehensive document compete with Title Page, Table of Contents, and Appendix.

30

Include a “Careers in Marketing” section described above.

10

Written Components: Organization (16), Usage and Mechanics (16), APA Elements (24), and Style (4)

40

Total:

300

Running head: PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS Promotion Mix/ Personal Selling & Global Markets 1 PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS 2 Section 5 – Promotion Mix/ Personal Selling & Global Markets (Module 5 LASA 2) • Promotion Mix A promotion mix entails all avenues that WBC will deploy to persuade potential customers that their new product, bottled water, will satisfy their needs. Promotion is intended to offer support to the marketing mix through integrated and well-coordinated decisions regarding the sale of a product (Trehan & Trehan, 2007). o Advertising Advertising is the most prominent element of the marketing mix following its high discernibility and universality (Belch & Belch, 2004). Advertising is aimed at disseminating information to target customers through paid. WBC will have to budget for advertisements considering that it is the most convenient promotion tool to reach out to a large number of customers who are distributed in a large geographical area. The primary contents of the avert will be a pictorial message that showcases that the water product they are selling is crystal clear and granite filtered. However, WBC should investigate the best time to run the advert with the intention of reaching out to potential customers as possible. The medium of advertisement is also crucial at this stage. At first, the frequency of running the commercial should be high, but this may reduce with time as people get to know the product. o Personal Selling Personal selling involves face to face interaction between WBC marketers and the potential customers. However, this interaction may also be between the sales marketing team and retailers who later on sell the product to the final customer (Trehan & Trehan, 2007). Personal selling will be pivotal in building strong relationships with the customers and the company. o Sales Promotion PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS 3 Sales promotion encompasses a couple of activities meant to entice and stimulate more customers to purchase the product. This includes short-term incentives and aftersales services to customers and retailers (Belch & Belch, 2004). A typical example is where WBC can introduce a platform where the price is subsidized if the customer or a dealer buys a given number of products. o Direct Marketing This involves marketing directly to a target consumer who probably belongs to one of the defined consumer groups. The message is a clear and concise call to action for the target customer. This approach of marketing provides reliable and valuable information to clients regarding a product and its success (Trehan & Trehan, 2007). WBC can, therefore, use direct mails and attach promotional offers with the hopes of reaching out to each homestead with a given locality and woe them to buy their bottled water. o Public Relations Public relations entail the various aspects that serve in the best interest of both the sponsoring organization and the customers. This approach uses media in the form of press releases, public events, blogs and newspaper articles. Through public relations, WBC will have deployed a comprehensive strategy to reach out to its customers and all stakeholders. • Brand Management In simple terms, a brand can be described as the spoken or written words that describe a product. This includes the logo, name, characters used and the declaration. A brand name makes a product unique and distinctive from other products in the market (Keller, Parameswaran & Jacob, 2011). WBC should settle on the precise brand name to use after all the stakeholders convene to discuss PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS 4 the same. However, the name should depict uniformity and compatibility with the product on sale. o Branding Strategies The type of branding is determined on the type of business, the product involved and the company objectives. The first approach is individual branding which comprises allocating a unique name to each product with the intention of avoiding confusion and mix up once in the market (Keller, Parameswaran & Jacob, 2011). Under umbrella branding, products are assigned a similar brand name especially if the products have some similarities. However, the promotion of a single product promotes all the other products sharing the same name. Line branding entails having a specific brand name for products produced on the same line. Multi-branding, on the other hand, implies assigning a familiar brand name to products in the same category. Cobranding is a branding approach that merges two products and assigns them a familiar name (Keller, Parameswaran & Jacob, 2011). Since WBC is still new in the market; the company will start with the individual branding of its intended product and then advance to other branding techniques as the company matures. o Emotional Branding This approach of branding places emphasis on the emotions of the target customers. The choice of brand name must be appealing to the emotional needs of potential customers. This means that WBC will have to conduct a comprehensive research regarding the emotional needs of their clients. All stakeholders should convene to come up with a brand name that addressed the needs, tastes and preferences of their target customers (Keller, Parameswaran & Jacob, 2011). However, research is only limited to emotional situations that might prompt someone to buy the said PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS 5 product. WBC will, therefore, focus on conditions, activities, and events where someone might find it necessary to use water to quench their thirst. o Brand Extension Brand extension is using aspects of an already existent product to produce and market a new product. In this case, the brand name may be altered by the addition of one or two names that signify the distinctive feature between the two products (Keller, Parameswaran & Jacob, 2011). WBC will explore this option once it decides to enroll a new product into the market. A typical example is a flavored water which will be an extension of the standard crystal clear and granite filtered product that they sell. • Global Markets The advancement of technology had changed and revolutionized the global market. More companies are exploring the international market with the sole intention of going worldwide. The primary goal is to build stronger relationships with businesses who have already gone global. In the quest to prosper and record positive performances, WBC should consider fostering good relations with worldwide distributors and retailers of bottled water products. However, the company has to consider diverse global markets rather than focusing on a single international corporation (Meyer, Mudambi & Narula, 2011). This can be attributed to the fact that water is a universal product that is used by everyone. The quest to invest in the global market starts with fostering good relations with the local and domestic markets. o Opportunities & Challenges Opportunities do arise, but there are always inevitable challenges that ought to be dealt with in the global market. Some nations will offer a sober environment where WBC can start a venture and record progressive developments within the shortest time possible. However, all this is PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS subject to the political, economic, social and technological aspects that affect how business is done in any given nation (Meyer, Mudambi & Narula, 2011). WBC should, therefore, conduct a PEST analysis to evaluate the possible opportunities and the obstacles they are expected to face following their decision to go global. Besides the usual production, operation and promotion costs, going global is demanding and therefore may include additional expenses which include maintenance and compliance with the set legal and regulatory standard of doing business. 6 PROMOTION MIX/ PERSONAL SELLING & GLOBAL MARKETS References Belch, G. E., & Belch, M. A. (2004). Advertising and Promotion: An Integrated Marketing Communications Perspective, (6 Th. New York: NY: McGraw-Hill. Keller, K. L., Parameswaran, M. G., & Jacob, I. (2011). Strategic brand management: Building, measuring, and managing brand equity. Pearson Education India. Meyer, K. E., Mudambi, R., & Narula, R. (2011). Multinational enterprises and local contexts: The opportunities and challenges of multiple embeddedness. Journal of Management Studies, 48(2), 235-252. Trehan, M., & Trehan, R. (2007). Advertising and sales management. FK Publications. 7

Tutor Answer

Purdue University

Attached.

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY (WBC)
Student’s name
Institution Affiliation
Date

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY
Table of Content
Executive Summary………………………………………………………………...………2
Section 1…………………………………………………………………………………….3
Introduction to Marketing at WBC………………………………………………….3
The Marketing Mix…………………………………………………….……3
Strategic Marketing………………………………………………………….4
Strategy…………………………………………………………….………..5
Ethics in Marketing…………………………………………………….……7
Section 2……………………………………………………………………………..………8
Market Research & Targeting………………………………………………………..8
Market Research……………………………………………………………..8
Customer Behavior…………………………………………………….…….9
Market Segmentation………………………………………………………..11
Section 3………………………………………………………………………………….....13
Product & Price……………………………………………………………………..13
The Product………………………………………………………………....13
Product Life Cycle……………………………………………………….….14
Price Determination & Pricing Strategies……………………………….….16
Section 4.................................................................................................................................19
Place & Promotion…………………………………………………………………..19
Distribution Channels………………………………………………………..19
Promotion…………………………………………………………………….21
Section 5……………………………………………………………………………………...25
Promotion Mix/ Personal Selling & Global Markets (Module 5 LASA 2)…………..25
Promotion Mix………………………………………………………………..25
Brand Management…………………………………………………………...26
Global Markets……………………………………………………………......28
Career in Marketing…………………………………………………………………………..30
References…………………………………………………………………………………….31
Appendix………………………………………………………………………………...……34

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MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY

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Executive Summary
It is through the process of marketing that businesses and other business entities make
their products and services get noticed by the potential customers. To successfully do this, the
business entity must conduct its marketing activities in a manner which will capture the attention
of consumers. This marketing plan details all the activities which Water Bottling Company
(WBC), a drinking water company undertakes in marketing its products in a highly competitive
market.
For WBC to be successful in the marketplace, product mix and a marketing strategy are
critical. The company must adopt a marketing strategy and product mix which ensures that it’s
able to compete with other products in the market. Being an ethical company, the marketing plan
also details marketing ethics which the WBC Company intends to adhere to. Frequent market
research is an integral part of any company which intends to increase consumption of its
products in the marketplace. In full recognition of this WBC will conduct frequent market
research intended at understanding its customers which will be conducted through the B2C and
B2B strategies. Other than this, WBC must also be able to set competitive pricing for its products
for these to be successful in the market. This will also be largely influenced by the quality of its
products and how well the company positions its self in the market. Understanding the product
cycle and knowing when to offer incentives to consumers is also critical to the success of WBC
products in the market. Apart from this, WBC must understand the promotion mix, global
markets it would expand to, and the place and promotion aspects of its bottled water product.
This marketing plan details how WBC would undertake all these activities in a detailed
form, which will ensure that its bottled water product will be successful in the market.

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY

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Section 1
Introduction to Marketing at WBC
Marketing can be defined as the activity of providing valuable information to customers
regarding a particular product/service. The primary intention is to woe target customers to buy a
specific product because it will satisfy their needs (Armstrong et al., 2015). In this particular case
study, Waters Bottling Company (WBC) will appoint a committee to foresee the entire marketing
plan, its viability, and practicality.
o The Marketing Mix
The philosophy of marketing is made up of four crucial and controllable elements of a marketing
plan. The 4 set of actions are commonly referred to as the 4P’s of marketing, and they include;
product, price, place, and promotion (Pavlou & Stewart, 2015). WBC will use these four
elements cohesively to reach out to their potential customers efficiently. The product, in this
case, is the bottled crystal clear and granite filtered mountain water that WBC intends to sell.
Various factors govern pricing, but the price should be reasonable to ensure that the client’s
needs are satisfied and the company manages to achieve its target. Water is a universal resource
that no single human being can survive without. The place/location of marketing is not a factor in
this case, but it would be advisable to target large retail stores all over the country where the
majority of the people shop. Promotion through advertisements and other communication
strategies aimed at reaching out to potential customers is a necessity considering that the product
is new in the market. Dr. Muddy Waters blues would come in handy at this point where they can
be played alongside adverts and other promotional campaigns.
o The Marketing Environment

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY

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Marketing environment denotes internal and external forces that may impact how a firm relates
to its customers. WBC should always be in a position to maintain a satisfactory relationship with
its customers. The environment should create a conducive atmosphere which facilitates better
serving of target customers. Some of the factors that dictate the marketing environment are
controllable while some are not and may require the business operations to change. WBC needs
to undertake a feasibility study that will give them oversight on the nature of the environment
they are operating to avoid forces that may affect their operations negatively.
o Marketing and its relationship with other functional areas of business
The success of every business is dependent on collaborative efforts of all the departments
(Armstrong et al., 2015). Other than coming up with an effective marketing plan, WBC needs to
involve all the other functional areas of business. The marketing department ought to work
closely with the operations department to ensure that adequate research is carried out to identify
the specific needs of the customers. Additionally, the operations department must guarantee that
packaged water is pure and crystal clear to ease marketing. The finance budget will set a budget
for all the expenses that will be incurred during marketing. The Human Resource department will
come in handy when hiring competent individuals who are proficient with the marketing plan
and means of implementing it.
Strategic Marketing
There are very many firms that engage in the business of packaging water in the world. WCB
needs to create a distinction between the quality of services they deliver and the manner they
conduct business to emerge triumphant over rival business entities. Strategic marketing instigates
the need to have a practical business plan that dictates how the company should deploy its
resources, conduct production and market to its customers (West, Ford & Ibrahim, 2015). The

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY

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marketing department needs the assistance of other departments such as the HR and the
operations department to devise and implement a concrete marketing strategy that will guarantee
the smooth running of the business.
o Planning Process
The planning process is dictated by the type of business environment that firm aims at investing.
An efficient planning process is dependent on the geographical and demographic suitability of
the business environment. An operational business plan should consider the current position of
WBC regarding financial stability, set goals and objectives, available marketing opportunities,
target market, and the set marketing budget. The marketing process should engage all
stakeholders within an organization and assign tasks accordingly. The primary motive is to lessen
the production costs and instead maximize the profits accrued. In a nutshell, market planning acts
as the bridge between production and the sale of the produced goods.
Strategy
According to D & B Hoovers (2017), WBC needs to strategize on the best approaches to
reaching out to the target customers and satisfying their needs. This comes in handy with
improving the performance and productivity of the firm. The best strategy has a definite timeline
when it should be rolled out and the precise methods for implementation. Strategizing instigates
an innovative mindset that proposes better ways of entering the target market. WBC should also
start a program that is meant to collect and gather meaning information regarding the reaction of
the target market towards their product.
o Organizational Levels

MARKETING PLAN MARKET FOR WATERS BOTTLING COMPANY

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Most organizatio...

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Anonymous
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