This is a sample Marketing Plan and is a part of an instructed course....
Marketing Management
Marketing Plan
Protein Energy Drink
Dated 21st December 2012 Authors Saiyed Muhammad Fauzan Ali Zeeshan Ali M.Talha
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Marketing Management
Table of Contents Table of Contents ................................................................................................................ 2 Executive Summary ............................................................................................................ 4 Company Profile ................................................................................................................. 5 Mission Statement............................................................................................................... 6 Vision Statement ................................................................................................................. 6 Customer Needs…………………………...........................................................................6 Product ................................................................................................................................ 7 Medically Certified ......................................................................................................... 7 Get more for your money................................................................................................ 7 Packaging ........................................................................................................................ 8 Price ................................................................................................................................ 9 Place .............................................................................................................................. 10 Promotion...................................................................................................................... 10 Positioning .................................................................................................................... 11 Marketing Plan .................................................................................................................. 12 Current Market Situation .................................................................................................. 12 Target Market Specification ............................................................................................. 12 Geographic Segments ................................................................................................... 13 Demographic Segments ................................................................................................ 13 Behavioral Segments .................................................................................................... 13 Competitors ....................................................................................................................... 14 Threats and Opportunities Analysis .................................................................................. 14 Objectives ......................................................................................................................... 14 Marketing Strategy............................................................................................................ 15 Action Programs ............................................................................................................... 16 Budget ............................................................................................................................... 17 Billboards ...................................................................................................................... 18 Standing Banners .......................................................................................................... 18 Controls ............................................................................................................................. 19 SWOT Analysis ................................................................................................................ 23 BCG Matrix ...................................................................................................................... 24 Conclusion ........................................................................................................................ 25
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Letter of Acknowledgement The report is a result of our comprehensive and hard work; all of the group members have participated equally and have put in great efforts in the making of this report. The information provided in this report has been collected from various internet sources such as Wikipedia, livingstrong.com, muscle-tech, google and other relevant sources. This Marketing Plan is a part of an instructed course and is only a means of information. It is a sample marketing plan and discusses the entire marketing management concept. If there are any questions regarding the material presented in this report, feel free to contact us. Thank-You,
Saiyed Fauzan Ali Zeeshan Ali M.Talha
Contact:
[email protected]
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Marketing Management
Executive Summary Packed with multi vitamins and proteins, 360 is a cutting-edge energy drink that increases strength and keeps the body juiced up. The benefits of this energy drink is second to none, it not only helps in building stamina but it also increases strength and power and boost up the immune system. This drink is enriched with vitamins A, B, C, Carbohydrates, Proteins and Fiber. The product will be available in three different flavors, water melon, Exotic fruit Punch and Peach Mango. It will be manufactured in 500ml size transparent glass bottles and will be sold at a retail price of Rs70. At an initial stage our product will be made available at Time Medicos, Kausar Medicos, Macro Mall and The Forum in Karachi and at various Malls in Lahore and Islamabad. Since VPX is taking its first step in Pakistan market, so to attract consumers, promotional activities will be held at the selected malls of the cities mentioned above. Promotions will be done through Television advertisements and Newspaper advertisements, a brand ambassador will be appointed in 3 months time and the advertising will be standardized. The slogan “360 gets you going” will be made part of all the promotion activities. We target customers of ages above 12 years; most of them would be students, employees, sportsmen, athletes and also body builders. Our target customers will include males and females both; unlike most energy drinks this is a scientifically engineered hard-core formula that strengthens the body providing energy, it has natural ingredients and is steroid free. The main objective of 360 is to provide its customers with enhanced nutrients and health. Being at an affordable price and unique in its type, it will surely attract customers and provide market growth. The company will also look forward to building a good relationship with its retailers and whole sellers. VPX intends to capture a long-run share of all the other markets of its kind. Estimated cost of the product including transportation, project setup, promotions and advertising costs have been calculated and has enabled us to set the right budget for the product. The key purpose to carry out marketing control is to make sure that the company achieves the sales, profits, and other goals set out in the annual plan. It evaluates the results of marketing strategies and plans and helps in taking right action to make certain that the objectives are attained. Feedback from the vital users of the product will be highly valued in the evaluation process.
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Company Profile VPX (Sports and health beverages) is one of the largest producers of Sports Nutrition and Performance Beverages. It was incorporated in 1993. VPX has been producing the highest-grade, university proven sports nutrition supplements and performance beverages in the world. VPX continues to update and release new nutrition products, proudly maintaining its distinction as the "leader in Sports Nutrition". VPX is coordinated by the world’s leading authority, author and developer of performance enhancing supplementation and physique-altering nutrition, Founder and CEO, Jack Owoc. VPX sponsors several bodybuilders and athletes and sells its products online and in sports nutrition stores. As of 2012, VPX has been manufacturing health supplements for almost around 19 years. The company owns more than 100 patents in the field of supplements; VPX marketing relies upon promotions relating to its team of sponsored athletes. The company is dynamically involved in the sports nutrition industry, hosting two Science Summits each year with the top PhD's & researchers in Sports Nutrition and Athletic Performance. Technology and innovation have never stopped VPX from moving forward, the cutting edge products of VPX cover health, energy, fitness, supplements, and weight loss for people from all levels of fitness. Users will be able to clearly define and achieve their Health & Fitness goals through personalized plans unique to their lifestyle. VPX initially focused on sports nutrition supplements, but has since expanded into the ready-todrink performance beverage market. VPX’s beverages, such as Redline Energy and Protein Rush, target consumers seeking drinks to improve performance, but the company is shaping up for a move into new areas. VPX currently has a staff of 160 employees in its 244,000-square-foot office, where every aspect of its products – from research and development to manufacturing to sales and marketing – is handled. Recognizing the significance of product claims in its competitive market, VPX sponsors university-level studies on its products to test their effectiveness, A test of Meltdown Fat Assault RTD drink performed at the College of New Jersey, Ewing, N.J., showed a 14 percent increase in metabolism for more than three hours per 4-ounce serving. Meltdown is packaged in 8-ounce bottles. VPX Sports, "Solution & Execution"!
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Marketing Management
Mission Statement To Research, develop and market the most effective diet and sports supplements in the world.
Vision Statement To be the premier enterprise that design and manufacture the most effective fatburning, muscle-building and performance-enhancing supplements in the world.
Customers Needs People in Pakistan are getting health conscious day by day as the awareness of health issues is rising. People want healthy living but the diet they have is not supporting their needs for a healthy living. Students have too much burden of studies and they get exhausted, they need something to get them juiced up, working people at the offices and other work places most of the time face the problem of exhaustion and cannot work at their level best, they also need something that can help them regain their energy and get them going, sports athletes are always in the run for more and more energy and will always thrive for a positive source of energy and vitamins, they need something energetic and full of nutrients, which can enhance their immune system. There are not many products available in the market for the problems mentioned above and the ones that are available are costly, non natural, have side effects or are not efficient enough.
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Product A scientifically engineered energy drink (beverage), enriched with vitamins, proteins, carbohydrates and fiber to help gain energy and strength, refresh the mind and boost up the immune system. 360 is a complete and the most excellent source for energy, proteins and fiber.
Medically Certified In a placebo-controlled study on 32 individuals divided into four groups and conducted at a physiology lab in Pakistan, subjects taking the core ingredients in 360 gave positive remarks about the product. In fact 360, formula contains core ingredients supported by over 30 research studies conducted over multiple decades.
Get more for your money Unlike the competition, 360 contains superior key-ingredients in clinically dosed amounts that are fully disclosed so you know exactly what you are paying for.
Best Taste Every flavor of 360 won in head to head third party taste tests against leading competitors.
Levels of product: Core benefits: It is an energy drink, enriched with vitamins, proteins, carbohydrates and fiber to help gain energy and strength, refresh the mind and boost up the immune system.
Actual product: A Protein energy drink. Product life cycle stage: As we are launching a new product so it is in the introductory stage of its life cycle.
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Packaging 360 will be available in 500Ml size transparent glass bottles (pressurized). These bottles will also be available in a 6 bottle pack. The packaging of the bottles would be aimed to look attractive. The packaging of the product will have a logo and the core ingredients fully disclosed on the back of the bottle. The shape of the bottle would be made in a manner that it does not occupy a lot of space in the packaging and the bottle will be sealed with a seal cap making it convenient and as well as safe for the consumers.
Labeling
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Price Retail Price of 500Ml bottle will be of Rs. 70, which is less compared to the famous energy drink Red bull which started at Rs. 80 Retail 6 bottle pack of 500Ml bottle will be of Rs. 430 Discounts to the whole sellers will be provided on the purchase of a certain amount of stock. Because we’re developing a new market for our company, we are going to deal on credit terms as well, receivables conversion period will be of 30 days and our client pays in 24days, we will allow them a discount of 2%.
Pricing Method Being under the banner of VPX, prices have always been a leadership factor for us, the rising inflation in Pakistan is making buying decision a bit economical now, we have set our price to be lowest as compared to other top energy drinks like Red Bull, and most of these energy drinks involve side effects but our product is scientifically engineered and our product will be manufactured in Pakistan while only the packaging will be imported in Pakistan so we have an advantage.
Pricing strategy Value based pricing- We are offering a less price for a more valuable product and we have taken to consideration the consumer's insight on the price of product utilizing psychological pricing method, figuring things like:
a) Positioning - Being a cost leader and to penetrate as a new product, 360 is priced lower than the competitors. b) Popular price points - There are certain "price points" (specific prices) at which people become much more willing to buy a certain type of product which is mostly 90 or less in Pakistan in case of Energy drinks. c) Fair price - We have also considered the factor of fair pricing, even the value would be higher of our product still we have priced it fairly for our very own customers. Page 9 of 25
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Place Initially the product will be available at all the retail stores, malls, discount stores located in Karachi, Islamabad and Lahore. Since VPX is taking its first step into the beverage market, so to attract consumers promotional activities will be held at selected supermarkets of the cities mentioned above. The product in the first week of its launch would only be available in a few Malls and Stores but then it would be available everywhere in the selected cities. The company will get contracts of specific distributers which will make sure of the product’s availability in the targeted markets. In the case of super markets the company’s representatives will contact them to get a shelf space, for the product, in the market as well as the distributors hired by VPX.
Promotion Being a big company we can fix a higher marketing budget on 360. We will spend a lot on advertising in the starting phase in order to create awareness in the public. Then create demand of the product in the market.
We will place adds on the television in prime timings to communicate with the families. We will also give advertisement in Newspapers so that we can persuade young generation and office going people to try our product. We will also capture hoardings in appropriate and prime locations in Karachi, Lahore, Islamabad and Rawalpindi. We will choose a sportsman as a brand ambassador for 360 to convince young generation. This might also enable us to hold sports events and proper awareness programs will be done.
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Marketing Management Despite all this, a brand ambassador will also be appointed for 3 months time. For that the one and only Superstar Atif Bashir is the company’s preference. Other than that, billboards and banners will be displayed all around the city.
Positioning The idea is to make the costumers think right about what the product is made of and positive image about the product. The following things would be emphasized in the process of positioning:
A pure fiber, protein and carbohydrates enriched drink without any side effects.
It is not a medicine.
Not only for old people.
It is an alternative for soft drinks.
A cheap alternative for energy drinks.
More than a normal energy drink.
And all of the above perceptions would be possible by creating awareness in the costumers by a proper marketing effort.
Positioning strategy: We are giving more quality and benefits in a reasonable price. This value will be created in the minds of the customers through effective campaigning.
Slogan: “360 Gets You Going...!”
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Marketing Plan Current Market Situation In Pakistan there are several energy drinks and all of them are too much strong in their own way. Pakistani market is also aware that what are soft drinks, and what are energy drinks this awareness also covers the other side as well which relates to the calorie levels and side effects of energy drinks. The famous brands of all the energy drinks have enormous market share and will not feel comfortable in the presence of a big competitor they are likely to fight back.
To enter a market well developed and full of giants like Red Bull, Sting, Booster and etc, especially with an innovative product is not an easy task. If no proper marketing strategy is adopted or any slightest mistake done we may end up in the failure of the product.
Target Market Specification We are targeting costumers of ages above 12 who want a healthy life full of energy enriched with vitamins and with taste in it and a suitable alternative of calorie contained and costly energy drinks. The cost of this innovative product is extremely cheap compared to the available alternative energy drinks. 360 is a scientifically engineered product and appeals greatly to the people who want to support our industry.
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Marketing Management Geographic Segments Urban Areas of Pakistan that include Karachi, Lahore, and Islamabad
Demographic Segments Age: Any person above the age of 12. Income: People above the income of Rs. 10,000. Social Class: Students, Working Class, Middle Class, Upper class, elite classes Life Style: Healthy Living, Sports, Modern.
Behavioral Segments Benefits: Gives energy, Vitamins Enriched, Helps reduce cholesterol levels and fats, enhances the
immune system. User rates: Heavy users – People who are health conscious, people who have diseases like
Alzheimer's disease, autoimmune and cardiovascular disease, cancer, cataract genesis, diabetes, macular regeneration, muscular dystrophy and pancreatitis. Potential users – teen agers who have drinks at the time of games and studies, people who want to have a drink at the time of their workout. Loyalty: High loyalty – which have option to use other drinks and beverages but prefer 360.
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Competitors As 360 is on the whole a protein energy drink so its competitors will be Red Bull, Blue Ox, Booster and Sting, other competitors could be Muscle-Tech performance series products like Cell-tech or Nitro-Tech. All the competitors in their own markets have relatively high market shares and will not allow any other product to compete with them and put their all efforts to get rid of it as soon as possible.
Threats and Opportunities Analysis This part assesses the major threats and opportunities that the product might face. Say for instance, if any other company comes up with such type of product with more customer, attracting deals and flavors and low prices, so it will automatically take hold of the customers. So, in order to avoid this, the company should have strategic plans for example, if a certain company comes up with such a product then it should be well-prepared to hit new schemes as soon as possible to attract the customers. At least the company should plan according to the next 10 years if it has to run its campaign successfully. Secondly, the company should be in full-time touch with the outer world. So as to avoid positive negative developments that might have an impact on the firm and its strategies and should take remedial steps if such case takes place.
Objectives The main objective of 360 is to give customers a good healthy full of protein energy drink. It caters to every age group of consumers above 12. It offers a low price and the company has an advantage of being the only company producing this kind of drink at a low price as compared to the other imported drinks such as Red Bull which is too costly. It has an innovative feature of being a pure fiber and protein drink with a refreshing taste.
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Marketing Management One of the objectives is to rejuvenate the concept of energy drinks in all the times and make people realize that they should get what they are paying for because our products disclose all of the core ingredients on the back of the bottle, there are no hidden ingredients everything is disclosed. The diseases like diabetes and cardio vascular are getting pretty rare in Pakistan so this product is also an effort to reduce the health issues by providing everything that a person needs. Younger generation is also not sidelined as 360 also help to boost the immune system without any side effects but with good taste. Company would like to add more efforts in to this product and keep on enhancing it the natural way and would like to grow its market by capturing the positive feedback from the costumers.
Marketing Strategy Marketing is all about letting people know what the product or service you offer is all about, and persuading them to buy or use it. And for effective marketing you have to let people know about your product or service repeatedly. To do this, you have to come up with both a marketing strategy and a marketing plan. A marketing strategy serves as the foundation of a marketing plan. The marketing strategy is fashioned by your overall business goals. It includes a definition of your business, a description of your products or services, a profile of your target users or clients, and defines your company's role in relationship to the competition. The marketing strategy is essentially a document that you use to judge the suitability and effectiveness of your specific marketing plans. To put it another way, your marketing strategy is a summary of your company's products and position in relation to the competition; your sales and marketing plans are the specific actions you're going to undertake to achieve the goals of your marketing strategy. So in effect, you can't have a marketing plan without a marketing strategy. The marketing strategy has to be employed for the new product to grab its share in the market and attract consumers. Well, the product we are launching is a Protein Energy Drink. It’s a Page 15 of 25
Marketing Management healthy drink which caters every class of consumers. Now, VPX has done a good job by setting low prices as compared to other well known energy drinks. Secondly, it’s the first local product with such ingredients mentioned above. Low price and having the advantage of being the only local product which is first of its kind is really effective. Other than that, to occupy a place on the shelves, retailers and wholesalers are provided special offers which leads to discounts which should attract the middleman to keep the product available for the ultimate consumers. Promotional efforts employed throughout the country are of great help too. Choosing Mr. Atif Bashir as the brand ambassador who is the best Pakistani footballer/superstar will also shape a good image in the mind of the consumers.
VPX intends to capture much of the long-run share of the energy drink’s market. To achieve this, the service quality will be kept high from the beginning and be improved with time. Depending on the competition and the product’s market situation by conducting regular researches and paying appropriate attention to its promotion and advertising. VPX believes that a good working marketing strategy should not be changed every year. It should not be revised until company objectives (financial, marketing, and overall company goals) have been achieved or the competitive situation has changed significantly, e.g., a new competitor comes into the same category or different or new products emerge from existing competitors.
Action Programs An organization wants a successful launch of its product and then it also wants to keep up its good image. But for this, an organization has to do some pre-planning. Pre-planning involves the promotional activities. By promoting this product which is our protein drink means the company has to fix hoardings, banners, salesperson in superstores etc and on busy streets and make sure that the campaigns should take place. This is how people will get awareness about the product and they will be keen to buy the product as soon as possible. On the hoardings and banners especially, the flavors it offers, low prices as compared to other energy drinks that the product is Page 16 of 25
Marketing Management giving and a celebrity who can be appointed as an ambassador should be well high-lighted so as to attain quick response from the consumers. Banners and hoardings should be attractive enough to catch the attention of the people on the busy streets and Malls. Action program is a sort of bridge between product development and introduction of the product in the market. If action programs have taken place pretty good and if they have really attracted the consumers then the products definitely gets a good outcome. Distributing surveys and questionnaires amongst the customers also comes in action programs. We gather feedback which we have to report to the top management accordingly. This is a kind of field work.
Budget The finance department of the company is responsible of making a projected profit and loss statement for the new product. This activity is done before the physical launch of the new product into the market. The statement clearly shows expected revenue and losses. Revenue is calculated by multiplying estimated number of units to be sold with the net price per unit to be charge. The costs include the costs of distribution, and marketing in marketing’s point of view. After the approval of this statement by the higher management, this document serves as the evaluation tool which keeps tight check on how much funds were allotted in the statement for a particular activity, for suppose promotion and how much actually has been spent. Moreover, for advertisements billboards and standing banners have been chosen as a medium. The cost of billboard varies from city to city and further location to location. Where as, a single standing banner costs firm Rs 7000 (after negotiations). And the order has been placed for 300 banners. Location for these banners will be the big business plazas in different cities. In Karachi, one billboard is set on the foot of the bridge of FTC costing rs.10, 00,000 including taxes per year. And the other is on the main I.I Chundrigar road costing rs.60, 000 including taxes per year.
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Marketing Management In Lahore, a single billboard is set on the main road of liberty market costing Rs.58000 per year. Moving ahead towards Islamabad, the billboard situated on the Murree road is costing rs.50, 000 per month.
Billboards Cities
Location
Rent per month Rs.
No. of months
Rent expense
Karachi
FTC bridge
105000
6
630000
II Chundrigar road
5700
6
34200
Lahore
Liberty market
5200
6
31200
Islamabad
Murree road
3000
6
15000
Total cost
737400
Standing Banners
No. of banners
Cost per banner in Rs
Total cost
300
7250
2175000
Other than that, VPX is also going to hire a brand ambassador for a period of 3 months. The preferable brand ambassador is the most talented Football player Mr. Atif Bashir who will Page 18 of 25
Marketing Management charge Rs. 500,000 per month that makes Rs.1, 500,000 for 3 months. He will also be offered to work in our 3 minute commercial advertisement of the product. For which he will charge around Rs.300, 000.
Controls The controlling part of the marketing plan signifies that after the company has introduced its new product, after some time, top management will be needing the feedback that how is the new product doing in the market. The marketing department must practice constant marketing control. Basically, marketing control is practiced to monitor progress and allow higher management to review implementation results and spot products that are not meeting their goals. Marketing control involves four steps:
Management first sets specific marketing goals.
It then measures its performance in the marketplace
Evaluates the causes of any differences between expected and actual performance
Finally, management takes corrective action to close the gaps between its goals and its performance. (This may require changing the action programs or even changing the goals).
By keeping a check on the cards on going performance, company will be aware of every positive and negative activity taking place. If something is going wrong, then the top management will figure out new ways of solving those problems by going through the marketing problem solving process such as:
Identifying the problem
Designing alternatives to solve that problem
Evaluating alternatives
Implement the best alternative
Feedback Page 19 of 25
Marketing Management The main purpose to conduct marketing control is to ensure that the company achieves the sales, profits, and other goals set out in the annual plan. It evaluates the results of marketing strategies and plans and helps in taking corrective action to ensure that the objectives are attained.
NATURE OF BUYING BEHAVIOUR: Our product 360 falls into variety seeking behavior because in our product we have a beverage, energy drink which is not carbonated at all, does not have side effects, discloses all of the ingredients on the back of its package, scientifically engineered proved by several studies and made with pure fiber, proteins, carbohydrates, its core ingredients helps to develop stamina, provides energy, boosts up the immune system, and refreshes the mind, it has passed several taste tests and has proven to be the best among its competitors therefore the customer can easily differentiate it from other products as well as low purchasing involvement.
PESTEL ANALYSIS “When the rate of change inside the company is exceeded by the rate of change outside the company, the end is near.” (Jack Welch, former Chief Executive Officer of General Electric)
Politico-legal: The political environment in Pakistan does affect a lot in beverage industry but in our case all the material is being manufactured in Pakistan except the packaging which is imported and our product discloses all of its core ingredients on its packaging so it won’t affect us. Any how it may have adverse effects in future if,
Government imposes health and safety restrictions on the amount of energy drinks that should be consumed; it would affect the amount of energy drinks that are bought.
Government introduces additional taxes on the energy drinks market; it may increase/ decrease the amount of energy drinks that are consumed because of the low purchasing power. Page 20 of 25
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Economic environment: Today Pakistan is having big economy crises as the inflation rate is getting higher with double digit so it is a big challenge for us to launch such kind of product but we are ready with our product on cheap rates compare to other beverages available in Pakistan although the purchasing power of people is getting lower day by day but still a product having many different variety would attract people to buy our product.
Ecological(Natural) environment: Being a socially responsible company, VPX has a continuous focus on environmental aspects of its operations and mitigation of their impacts. The bottles used for 360 are produced from glass which is a part of our green supply chain. The product can be destroyed after its useful life, and while manufacturing our product the best possible environmental practices are used. Community benefits through our company practices:
Reusing or recycling materials leads to preserved environment rather than destroying the natural environment to extract new raw material Reduce landfill waste and prolong the life of existing disposal sites Transforming the materials currently discarded allow the community to identify with the company as it promotes reuse and recycling to improve our consumer choices Putting together the ideas of the community to provide businesses with new options for reuse and recycling
Technological environment: More hi-tech technology enables companies to produce more drinks at a cheaper cost and at the same time improving the quality of the packaging. Our beverage is the result of the technology and research opportunities available these days. The use of Internet helps advertise and promote its products. It can also sell large quantities of its product direct to its consumers. It is a new way to communicate with customer’s i.e. cheap and efficient market research method.
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Sociocultural environment: A major trend in urban areas of Pakistan has been shifted from drinking coffee/tea to soft drinks, juices and especially energy drinks; it also creates a sense of style in youth. Unlike 1980s where people used to be reluctant in trying new things, now due to advent of technology and awareness, people used to try new things more, it is due to the influence of western culture as well, and now the overall consumption in beverage industry has been increased in Pakistan. The consumers are male and female, anyone sporty and who works hard would prefer such a beverage, and people prefer natural products more and are health conscious. The changing lifestyle and consciousness in Pakistan have made beverage industry a boomer now.
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SWOT Analysis Strengths
Keep the calories count high without all the non value added calories. Natural Drink Vitamins enriched. Laboratory Tested. Best for sportsmen, athletes and people of ages 16 and above, regardless of their gender. Alternative of Soft drinks, and energy drinks. NO side effects. Health with Taste.
Weaknesses
Steroid confusion in the Market.
People might have a wrong perception about the product, that it’s a supplement
Not for consumers bellow the age of 12.
New innovation with no past experience.
Opportunities
Health consciousness is developing in the market day by day. Launched under the company name of VPX which already has a strong brand image and has won several awards. Cheaper than other energy drinks, like Gatorade, Red Bull and Blue ox. First of its kind, no energy drink is pure protein and fiber. No perfect competitor, like no one is producing energy drink which is actually a protein juice, un-carbonated. Can be available in 150 ml bottles at a cheap price in future as per liking
Threats
Strong market of energy drinks competitors, like Red Bull, Blue Ox, Sting, Booster and etc. Biggest competitor Red bull and Sting already have huge market share and vast brand equity. Innovation is always a risk. Prices may increase in importing raw material as subsidy ends.
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BCG Matrix
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Conclusion Our product not only aims to meet the demand and needs of the consumers at various levels of the target segment but also initiates us to bring forward a boarder and different product to the consumers that will cater their demands, needs and wants in much different manner. For this purpose we aim to bring a satisfactory level of promotion and advertising campaign that will together establish product loyalty as well as greater profits for the company. As VPX is already a well established and well known company all over the world, it won’t have the burden and fear of putting any product in the shelf as far as their business plan and marketing strategies are potential. The company aims to get at least break even sales for the initial few months. The calculated profit the company has aimed on each 500Ml bottle of 360 is around 16 percent of its total market share. All costs and expense in making this product as well as bring it to the consumer will be exclusive from this profit. Further the level of satisfaction and persistent buying will always be kept in the mind while defining the aim and objectives of the product manufacture and company. This is followed by healthy and potential controls and evaluation process to aim maximum product association to the consumers. 360 will surely become one of the leading products of its type in the market.
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