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Mkt421t v1 wk4 marketing lemonade worksheet docx doc 3 1

Mkt421t v1 wk4 marketing lemonade worksheet docx doc 3 1

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MKT/421T v1

Marketing Lemonade Worksheet

Scenario

Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization.

This organization can market locally, nationally, or internationally, and can be a privately-owned company

or a franchised organization. The product that you have decided to sell is lemonade. To make the

endeavor work, you will have to define a marketable form of the drink and decide on a target market.

Your marketing team's mission is to prove through research, strategy development, and reasoning why

this form of this product is viable and will meet the company's goals. In the first half of this project, your

team will complete this worksheet to report on the following:

• Target market

• Product’s definition to the target market

• Viable pricing strategy

• Brand's position in the competitive environment

Complete the Following

Select a company name and determine the real business world industry of operation.

Company Name

Industry of Operation

Phoenix Hard Lemonade Pops

Adult Beverage Industry

Describe the new and unique form of lemonade that will be launched by your company in no more than

90 words.

Our team had developed a new “hard lemonade”. This is an adult beverage because it will contain

alcohol. They contain 8% alcohol. We will offer this beverage on the same aisle with alcoholic beverages.

We will offer these in the form of freeze pops. The nostalgia of a freeze pop brings you back to your

childhood, however, these will have Black Labels (which signify high-end products) as well as warnings

that these are for adults 21 years and older. These items may be eaten straight from the pack once

frozen.

Complete the chart describing your organization in no more than 90 words.

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Marketing Lemonade Worksheet

MKT/421T v1

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Industry of Operation

Mission and Values

How Is Your Organization

Different from Other

Organizations?

Our industry of operation is the

adult beverage industry. More

specifically, we are operating in a

niche market of frozen, alcoholic

lemonade freeze pops.

Our mission is to provide a high

quality, premium adult lemonade

freeze pop. We aim to add a

refreshing twist to a summer

classic using only top notch,

organic ingredients.

We will differentiate ourselves

from the makers of other hard

lemonades in that we will offer it

in freeze pop form. This will be

an alternative to a simple hard

lemonade drink. We will set

ourselves apart through our

product quality. We will use only

the freshest, organic ingredients

and offer a premium quality,

frozen lemonade treat. So, while

our product may be like the hard

lemonade and hard cider

industry, we are focusing on the

niche market of frozen lemonade

and targeting a higher end

segment of consumers.

Identify the composition of the target market and segmentation criteria in no more than 90 words each.

Composition of Target

Market

Freeze pops are a summertime favorite with children. Our new hard lemonade

frozen pops are anticipated to be a favorite with Generation Z, those 20-

somethings that enjoy spending a night with friends after a long day in class or

working. The single competition for our product is offered by Slim Chillers and

called “Skinny Freezers”, for which there are two lemonade flavors among the

variety of freeze pops offered. (Slim Chillers, 2019).

Slim Chillers. (2019). Skinny Freezers. Retrieved from

https://slimchillers.com/skinny-freezers/

Segmentation Criteria

Used in Identification

The freeze pops are convenient, economical, and great for sharing with

friends. It is a product that is not readily available where most 20-somethings

shop for their alcoholic beverage. With three flavors to choose from,

customers can mix and match all their favorites, place it in the freezer, and

when it’s ready, cool down and enjoy on a warm summer evening.

Describe how you will define the lemonade to your target market (including information on packaging,

labeling, etc.) in no more than 90 words. Determine how this adds value and differentiates the brand and

product from the competition while encouraging the target market to buy.

Definition to Target Market

Differentiation

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MKT/421T v1 Marketing Lemonade Worksheet Scenario Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally, and can be a privately-owned company or a franchised organization. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define a marketable form of the drink and decide on a target market. Your marketing team's mission is to prove through research, strategy development, and reasoning why this form of this product is viable and will meet the company's goals. In the first half of this project, your team will complete this worksheet to report on the following: • • • • Target market Product’s definition to the target market Viable pricing strategy Brand's position in the competitive environment Complete the Following Select a company name and determine the real business world industry of operation. Company Name Phoenix Hard Lemonade Pops Industry of Operation Adult Beverage Industry Describe the new and unique form of lemonade that will be launched by your company in no more than 90 words. Our team had developed a new “hard lemonade”. This is an adult beverage because it will contain alcohol. They contain 8% alcohol. We will offer this beverage on the same aisle with alcoholic beverages. We will offer these in the form of freeze pops. The nostalgia of a freeze pop brings you back to your child ...
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