Marketing Management Report
Topic: Marketing Management and Digital Communications for Mint Shock of Nexba Beverages
Executive Summary
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.
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. Marketing Management Report
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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 innovated 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 managerial planning. The marketing plan and strategy will be designed in such a way that a budget will be proposed and strictly adhered to assist in measuring the overall returns and output of the entire process. There are numerous opportunities in the market that need to be exploited by the company. The high demand for Mint Shock by the Australian customers has made the company invent this new product with the right features and qualities that suit the tastes and preferences of the target market (Guthrie, Cuganesan, & Ward, 2008). The aim of this assessment is designing a marketing plan for Mint Shock product by the marketing management of Nexba Beverages.
Segmentation, Targeting and Positioning Approach
Nexba Beverages is an Australian based company famously known for traditional soft drinks and seeks to launch a new product (Mint Shock) in the market. The company started in the year 2009 and has been operating to deliver on its core mission of furnishing sugar-free refreshing drinks to….Show More Content….