Development of Marketing Strategies Assignment Help

Development of Marketing Strategies Assignment Help

Development of Marketing Strategies Assignment Help

Introduction

The financial and structural growth of any organization depends largely on its beneficial application of myriad marketing strategies in the business market. An organization’s strategy combines all the marketing goals into one comprehensive plan. A good marketing strategy attracts customers in buying the product that is promoted or advertised. A good marketing strategy should focus on the product mix in order to achieve the maximum profit and sustain the business.  It should also include a marketing plan, which is a written document that outlines in detail what the organization hopes or aims to accomplish in the future. 

Assessment 2- Development of the Marketing strategies

Selection of the organization

In this assessment, the Aloe vera Company by the name of Pro-Ma Organic Aloe Vera is taken into consideration and the novice product that they are launching is the Pitaya plus super drink. The Pro-Ma Organic Aloe Vera company has been involved in the production of healthy drinks by utilizing the beneficial effects of aloe vera since its inception in 1998. The objectives of the Pro-Ma Organic Aloe Vera company can be stated as:

To meet the need and demand of the customers in every possible manner
To produce more healthy products that may be more beneficial for the health of the people
To aid in the process of educating people about the nature of the usefulness of aloe vera in the life of the human beings

It is a type of health drink, which aims to satiate human beings and it aims to attract myriad customers that consume healthy drinks in their daily life. The health drink that is to be taken into this consideration has been the talk of the marketing campaign for the past few months.

Development of the Marketing strategies

Description of the organization

The aloe vera is sometimes called the natural healers as it pertains to restoring the lost energy of the human beings. The aloe vera has been the source of antibacterial properties and has been acting as an antioxidant for myriad generations. The Pro-Ma Organic Aloe Vera Company has been involved in the production of healthy drinks by utilizing the beneficial effects of aloe vera since it's inception in 1998. The company has been utilizing the rejuvenating effects of aloe vera and has been producing some acclaimed and useful healthy drinks for some decades.  The environment of the company is very aesthetic as it pertains to the production of health drink for the human beings. The company produces various products like the wheat grass, aloe vera juice, aloe vera gel and aloe vera skin cream along with the health super drinks for the consumption of the people.

Determination of the product’s features, characteristics and benefits

In this case, the product that is to be launched is the Pitaya plus super drink, which is a health drink. The composition of the health drink is the pitaya, coconut and the lemon, which are the three most essential elements that are used for the revitalizing protein in the human body. The drink possesses no caffeine and taurine in it. The main characteristics of the health drink are the fact that it contains pure fruits flavours with the exclusion of the chemicals like chlorine, fluoride, pharmaceutical drugs and other substances, which are harmful of the consumption of human beings.

The benefits of the health drink are that it restores the exhausted mind of the human beings and resuscitates the fatigues of the person who is consuming it. There are various benefits for the consumption of the Pitaya plus super drink, which are mentioned below:

Usage of original fruits- The pitaya’s flesh and peel are potent sources of antioxidants. One bottle of this juice is equivalent to about 100 large blueberries and about 25% of the daily fibre that the customer consumes. Therefore, the consumer will have an access to the original fruits by the consumption of the health drink.

Digestive system- The health drink reduces acidity, detoxes, reduces ph levels and alleviates heartburn. It also alleviates constipation and also the inflammation of the digestive tract.

Immune system- The health drink prevents fever, prevents detrimental bacteria, fungus, influenza and other hinder the influx of viruses into the consumer's body.

Muscle system- The health drink also reduces the fatigueless in the body of the consumer and also helps in the rejuvenation of the health of the consumer. It helps in the restoration of the tired muscles of the body, which will help the customers to function more actively in the future.

Selection of appropriate target market

The target market of the Pro-Ma Organic Aloe Vera organization are the persons that usually health conscious and sports enthusiasts. It also includes the persons from all occupations or people from all professions that work hard in the society. The target market is mentioned as:

Health conscious people- This category of the people are the prime target for the marketing of the product as these are the people that consume the healthy drinks the most. They are always concerned with their health and hence they prevent themselves from consumption of the soft drinks or hard drinks.  For example, some health-conscious people prefer to drink local, organic, in-season production and shop at co-ops and farmer's markets.

Weight conscious people- The people who are conscious of their weight and obesity are also the target audience for the consumption of the healthy drink. The people who are concerned about becoming obese refrain themselves from the consumption of the soft drinks that contain extra calories in it. These people, therefore, consume the healthy drink, which not only prevents themselves from becoming bulky but also satiates their thirst.

Active people- Another target audience in the context of energizing the marketing materials for a healthy drink is by using the people who are vehemently active in their daily life.  The activity stream ranges from walking, birding and hiking to running, mountain biking and rock climbing. Many active people lead a generally healthy lifestyle, including a consumption of a healthy drink.

Developing marketing objectives

The various marketing objectives of the Pro-Ma Organic Aloe Vera organization are as follows:

  • To see that the product meets its basic requirement which is the restoration of the lost energy in the human beings
  • To help in the promotion of the usefulness of the effects of the consumption of the healthy drinks
  • To identify the challenges that the company could face in the promotion of the product
  • To devise mitigating techniques in order to solve the challenges

Conduction of the SWOT analysis

Strength

  • Cheap
  • Non carbonated
  • Non caffeinated
  • Instant energizer and hydrator
  • Myriad marketing strategies
  • Different flavors
  • Can be consumed in a concentrated manner

Weakness

  • Brand image
  • Low marketing budget
  • Sometimes termed as artificial
  • Consumer awareness
  • High price
  • Limited customers
  • Low demand

Opportunities

  • Good market potential
  • Upcoming market sector in the non-carbonated drinks
  • Increased awareness of health leads to increase in the consumption of the drink

Threats

  • Cheaper alternatives
  • Existence of strong rivals in the market
  • Presence of convention methods of hydration

Identification of the gaps

The various gaps that the Pro-Ma Organic Aloe Vera might face in the launching of the Pitaya plus super drink are as mentioned below:

High cost price- Since the product that the company is promoting is purely on the basis of original fruits, the cost of the drink will also be high. Unlike the other drinks that are present in the market which is artificial in nature, this health drink prefers to be much costly. In order to increase the sale of the drink, the promotion of the company must be very sound and appealing.

No guarantee of response- In this case, the company is launching the health drink in the market at their own risks. Since this the pioneer product of its own kind, the response of the customers is unclear to the management of the company.

Conduction of the PESTLE analysis

Political

  • Food and drug administration (FDA) regulation
  • Waste management regulation
  • Implementation of various other factors involving caffeine and taurine rates

Economical

  • High recession
  • Loss of purchasing power
  • Market maturity of carbonated soda
  • Increasing demand of alternative beverage
  • High cost of raw materials

Social

  • Health concern of the customers
  • Demography in those of aging population in Australia
  • Fashionable dimension of energy drinks

Technological

  • Automation
  • Marketing technology
  • Introduction of novice technological advancement and enhancement
  • High costs of technology
  • Internet and social media era

Logical

  • Implementation of various restrictive laws
  • Consumer laws, discrimination laws, employment laws and health and safety laws

Environmental

  • Consumption of the drinks in the metro cities and the major cities of the nation
  • The presence of the rival company also hinders the growth of the company.

Identification of impact of external factors on the objectives

The external factors have a great impact on the objectives of the marketing strategies of the organization. Some of the impacts of these above mentioned external factors are as mentioned below:

The implementation of various laws might hinder the work process of the organization
The cost factor is a primary factor that may affect the aim and the objective of the organization
The health concern factor may also affect the company’s  attainment of the various objectives that it has set 

Devising appropriate marketing strategies

The various marketing strategies that the Pro-Ma Organic Aloe Vera organization should deploy in order to promote the Pitaya plus super drink are as follows:

Creation of a marketing plan- The marketing plan is to be developed so as to attract the lucrative minds of the people.  The marketing plan, in this case, will typically include placing advertisements in magazines, billboard advertising and online advertising on various social networking websites and other websites pertaining to the use of social media.

Development of brand loyalty- A brand image of any company is its identity. It is how consumers perceive the products and ultimately determines whether they choose the drink product above all the others on the shelf. Developing a brand can help the company determine target markets and allow it to design a profitable marketing strategy.

Creation of a website devoted to the promotion of the product- If the organization or company develop a website that solely aims to focus on the promotion of the product, then it will also appeal to the juvenile minds of the youth and help in the promotion of the product.

Developing an effective marketing campaign- An effective marketing campaign is an inner key to the promotion of the Pitaya plus super drink. If the company focuses on the creation of materials such as a postcard or flier that include basic information, a catchy slogan and a product picture, then it will help in the promotion of the product of the company.

Creation of brand awareness- The organization can create brand awareness by participating in any charitable organization or organize various charity events throughout the year. Some of the events include summer barbecue or concert series at a local park. Also, the printing of banners and other promotional materials to hang in sponsorship areas, booths at charity events or on concert stages will also help in the promotion of the product.

Commercial advertisement in football and cricket matches- The people are very much devoted to the rugby and the soccer games in Australia. If the pictures or various commercials pertaining to the product are shown in the commercial advertisements in these matches then the people will be inclined to purchase it.

Magazines and journals- If the images of the product and the benefits of the usage of the product are mentioned in the title pages of the magazines and the cover pages of the journals then the promotion of the product will be much easier in nature.

Assessment 3- Development and presentation of a marketing plan (PPT)

The Pitaya plus super drink mainly pertains to its originality and it refers to the aim in attaining the tired muscles of the body. The drink suggests to the use of pitaya’s flesh and peel, which are the potent sources of antioxidants. One bottle of this juice is equivalent to about 100 large blueberries and about 25% of the daily fibre that the customer consumes. The customers mainly are the health conscious people and the sportspersons. The customers or the consumers will see that the drink regenerates their bodily functions to a normal state and also gives them the energy to do various activities.

The research planning

Environmental audit- The term environmental auditing is an environmental management tool that is used for measuring the effects of certain activities on the environment against set criteria or standards.

Current business position-  The organization is extremely successful in its business sector and has acquired a name in the market. The Pro-Ma Organic Aloe Vera Company has been involved in the production of healthy drinks by utilizing the beneficial effects of aloe vera since its inception in 1998.

External environment- This is determined by the PESTLE analysis, which is demonstrated below:

Political

  • Application of various tax and trade policies
  • The various political parties and their influence also affects the marketing plan

Economical

  • Rate of inflation
  • Business growth
  • Unemployment
  • Trading goods and services

Social

  • Population growth
  • Social class
  • Increase in the health concerned people

Technological

Logical

  • Various laws like labor laws, employment laws and trade laws
  • Consumer rights

Environmental

  • Various wastes that may harm the environment

Internal environment- This is determined by the SWOT analysis, which is demonstrated below:

Strength

  • Brand recognition
  • Location of the business
  • Proper introduction of the product

Weakness

  • Poor distribution
  • Irrelevant marketing campaign
  • Lack of online presence

Opportunities

  • Increase in demand
  • Social events
  • Advancement in technology

Threats

  • Competitor's lower price
  • Economic condition
  • Change in the consumer choice

Competitive analysis- The presence of rivals like the Red Bull, The XXX and the other energy drink producing companies also has a great impact on the marketing plan for the company or the organization. If the company deploys various innovative tools like the promoting its product in the commercials of soccer games, rugby games and ice hockey games then it would lead to the good advertisement of the company. In addition, the promotion of the product in the television, radio journals and magazines and various other social networking sites will also help in the marketing plan of the company.

Marketing strategy

Marketing objectives- The marketing objectives that are formulated in this context are:

To see that the product meets its basic requirement
To help in the promotion of the product
To see that the people are known of the usefulness of the effects of the consumption of the healthy drinks

 Marketing strategies- The various marketing strategies that are formulated in this context are:

Television
Radio
Journals and magazines
Social networking sites
Free distribution of samples in charitable organizations
Billboard advertising

Marketing mix- It implies to the four Ps in marketing which is the price, product, promotion and place. If all the categories are met then it will help in the fruitful formulation of the marketing plan.

Implementation of the strategy

Marketing tactics- The use of various marketing tactics like the free distribution of samples in the charitable institutions, advertising in popular radio channels, sponsoring of various college events and association with the gyms will also render in the promotion of the brand.

Expected costs- The cost of the drink is expensive and hence it will need to devise costly marketing plans. The overall costs will include about 1200-1500 AUD for the promotion of the product as the cost of the product is 35 AUD.

Coordinating and monitoring mechanisms- The various policies and the procedures are to be monitored by authoritarian people to see that the promotion techniques are carried out successfully.

Legal and ethical requirements- The ethical standards are to be maintained in a very concrete manner. The ethical promotion portrays the company’s offers honestly and accurately, without links to attractive lifestyles that are not relevant. The professional conduct, the promotional techniques, the competition and the pricing are to be maintained in a legal context to effectively conduct the marketing plan.

Action and control

Action plan- The purpose of an action plan is to clarify what resources are required to reach the goal and determine what resources are required to achieve it. It also includes the formulation of a timeline for when specific tasks need to be completed. In order to promote the product successfully in the market, certain tasks or actions need to be performed that is illustrated in the following table.

Required tasks

Time

Market survey

2 months

Evaluation of the feedback

1 month

Generating results

1 month

Making relevant changes in the strategy

2 months

Measurement and analysis-

The implemented strategy needs continuous monitoring in order to make further changes. The amount of success could be judged by the satisfaction level among the targeted customers.   

Performance evaluation- The performance evaluation is done by the application of the KPI methods in the organization. There are various methods of performance evaluation like Self-evaluation, 360 evaluation, Graphic scale and Checklists.

Conclusion

It is hence seen that the implementation of the appropriate marketing plans in the promotion of the product will help in the marketing strategy of the organization.