Marketing Management and Plan
Marketing Management and Digital Communications
Executive Summary
The executive summary of this report seeks to enable the management review the main points in the company’s comprehensive strategic marketing plan. The report will major on Mint Shock of Nexba Beverages which is the newly selected product by the marketing management to be promoted in the target markets. The assignment will create a marketing plan for this new product with proper application of marketing plan concept theories other than just explaining them. Click here to ORDER NOW
The marketing plan includes a discussion of the segmentation, targeting and positioning approach of the company in the market. Potential customer segmentations for Mint Shock of Nexba Beverages will be highlighted with good justifications in the market place. The desired positioning for the new product will be discussed by formulating a clear positioning statement.
Also, the strategic marketing plan will discuss marketing and financial objectives of the company in promoting the product in the market place. Three marketing goals and three financial objectives of the company in its promotional campaigns for the product will be designed.
Further, the marketing plan for Mint Shock of Nexba Beverages will present a budget allocation for the company’s promotional mix. The media and budget allocation for every promotional mix element will be mapped against the promotional mix elements and its objectives. A special emphasis will be put on digital communications strategies of the company.
Introduction
A marketing plan helps an organization achieve the goal of increasing sales, product positioning, and the number of customers in the target market. Nexba Beverages is a private company that faces stiff competition from other big players in the market. Some of these competitors include DR PEPPER SNAPPLE, COCA-COLA, AND PEPSICO. The main products of Nexba Beverages include real iced tea, soft drinks, sparkling influsion, and flavored sparkling. Recently, the company invented a new product to the market which is Mint Shock and the marketing management seeks to design a marketing plan for promoting the product in the market (Australia, 2015). The marketing plan of the company will help the management streamline product development, set the right prices, and design the right distribution, formulate excellent marketing communications, and help in…Continue Reading