Marketing Plan for Energize me - Assignment Example

Marketing Plan for Energize me So many companies have sprung up with the dire aim of meeting up with the energy shortfalls that are experienced among the American citizenry. With a wide range of products, the competition has a stiffened, expunging others from the competition. Energize me is one such company that has managed to not just fight and survive in the market, but has registered steady growth and expansion. The success is a resultant of steady work and input from all staff and managerial quarters. The company that is one of the fastest growing companies in America, majors in the production of energy drink, also labeled as energize me. Armed with experience with the English energy drink, Stringer, the company's founder, developed a brand that has high energy content. The energy is a derivative of concentrated amounts of sucrose, glucose, and fructose. Among the ingredients also are minerals such as caffeine and taurine that are quite essential in the development of maintenance of human of human physique and processes. Created in a way that it has the potential to raise metabolism within a limited time, the drink is mostly used for recovery of lost energy. Having bust at the seams and beaten the local competition, Energize me managed the sales of 2billion cans in 2012; a significant factor that is also a pointer to the future success of the company. Energize Me has developed and thrives in standards meant to edge its competitors. Branding Strategy The Branding Strategy would take the forms of sports and event sponsoring and sampling. Creation of events is best as it improves the catch on brand development (Kennedy, 2011). A variety of activities that cover soccer to football events will be created by Energize Me with aims of creating familiarity with the consumers. Provision of shelter for outdoor activities and Introduction of an umbrella branded 'Energize Me Umbarelo' aims at popularizing the brand during the rainy season. Pricing Strategy Having achieved local and international competitive advantage, the company would be at liberty to employ the strategy of price skimming. The high prices are meant to draw from the vast potential of the consumer base and increase the profit returns for the company (Johnson, 2014). Distribution Strategy To limit on the number of intermediaries involved and maximize on the profits, Energize me would implement a distribution plan that involves the manufacturer, agent, retailer and consumer. The agent comes in to limit the transport costs incurred and limit time wasted in reaching the consumers (Wheeler, 2012). Marketing Strategy Companies have been in the rise all developing different brands of energy drinks and with goals of outcompeting the rest. However, Energize me has managed to fight back and stand out in the cut-throat inter-brand-competition through delivery of way much-improved services and goods (Hiebing & Cooper, 2011). With little employed in the scopes of marketing plans, branding strategies, and feasibility studies, the competitors barely stand an edge in the competition. The factors make the rivals well beaten at the game. Failure to spend millions of dollars into research that aim at improving sales through stipulated plans, creation of target group, and proper branding are the undoing of such rivals. Energize Me has developed the potential to tap into the growing market and demand by meeting the requirements of consumers, almost in the sense practicing niche marketing (Hiebing & Cooper, 2011). To note with, some of the adversaries have stiffened the competition by making attempts to produce better products. Moreover, they have achieved that by increasing additives in the ingredients and rebranding their products to make them more appealing and interesting to consumers. The factor has called for changes within Energize Me aimed at keeping up with the pace and neutralizing the competition. To achieve the task, Energize Me has created different strategies with goals of remaining the most appealing to consumers and reaching out further to more in the market. The strategies are three pronged and aim at improving service delivery, management and remolding the product (Wheeler, 2012). Differentiation Strategy The need to remain distinct and easily identifiable from the shelves has plunged the company into a differentiation strategy (Wheeler, 2012). This calls for creative innovation and improvement of the product to unleash a new corporate identity that exhibits strength and reliability. The goal of flattery must so be implemented with care to avoid emulation from the closest competitor with the tendency of imitating creations and developments of the company. To avoid the risks of change of consumer tastes and preferences, the name of the brand will be left unchanged (Wheeler, 2012). The drive will however involve change of color of the product to make it brighter and create the impression of a better taste. The canning will also be changed to more interesting shapes that instill pride of distinction and beauty in the consumers. The company aims at taking advantage of their competitive ability to achieve and maintain the lead role in the energy products market. In the strive to achieve balance in the strategy, Energize Me will make every attempt to not compromise on other aspects that are of significance to consumers, like quality and shelf life. The Impact of Macro-Environment Marque to the strategies and implementation, there are uncontrollable external factors that would influence the developments and decision making in Energize Me. They would in turn impact on the strategies and company performance (Wheeler, 2012). Among the factors may be issues of demographics, changes in technology, economic factors, social, political and legal conditions. With so many changes in the legal systems and requirements, the steady rise of the company is set to be hampered indirectly to experience a slow growth. The underlining factor to that is the ever evolving changes to global and health requirements that that keep stifling sales and production. That involve injections to recover lost energy may also prove as the immediate alternative to the product. However, the company is set to reap from the growing global population and increase in the level of participation in physical activities. Global recovery from the economic decline is set to play another booster role for the company. With little given to the macro environment compared to other factors, Energize Me is not set to suffer a tremendous blow in its growth and expansion. Marketing Research Tools Surveys had the significance in the collection of information in the regards of ideologies and consumer opinion. Distributed online and through mail, the survey forms took multiple forms inclusive of short answers and a range of true and false responses. Respondents to the survey forms were rewarded with gifts and incentives among which were coupons and gift certificates. Focus groups were used to determine efficiency and impact of marketing messages that could create a new consumer base and implementation of the differentiation strategy. Similar to direct interviews, use of the focus groups involved questioning of participants through a moderator. The answers to the question series were then compiled in a report format for analysis by the main decision makers. Social networks and Blogs in which consumers express themselves more freely were also used as key marketing tools. The company blog created a format that allowed for immediate response and feedback from the consumers by leaving comments and participation in polls. Google Alerts were also employed to get notifications whenever consumers posted about the product. Implementation Strategy Delay in implementation of the strategies would hamper the ability to globally outcompete rivals (Wheeler, 2012). Such expresses the urgency and need for timely response, innovation and implementation of all goals and plans. The company's success has been based on factors principled on time. Feasibility study is set for completion by December of 2014, during the winter. This would give more room and time for implementation of other programs and strategy. The branding strategy that targets implementation in two forms is targeted to be completed by the spring of 2015. Sponsoring of events is aimed at increasing awareness about the company and the brand among consumers and potential customer base. The intention to create such events will increase catch on brand development. The 'Energize Me Umbarelo' program that aims at providing shelter for outdoor activities and retailing during the spring will also popularize the brand. The first phase of the marketing strategy that involves online campaign for the product is set for completion by mid-February 2015. The varied forms of online interaction with consumers will involve the presentation of awards to participants. The second phase that involves the use of TV and other media forms is set for completion during the spring month of April. The kind of marketing strategy has proven essential as a sense of identity is created in the consumers as they enjoy other products (Kennedy, 2011). Implementation Strategy Timetable Expansion Plan Energize Me has developed an expansion plan that aims at increasing the profitability of the project he during the next five years. The plan that involves the creation of a new consumer base in other continents will not only increase returns, but also create the podium for introduction of other products (Hiebing & Cooper, 2011). Though the company is already achieving global success, it has not cemented its place as a global leader in the production of energy drinks. Surmountable competition from more established and older companies have played the biggest factor in that (Kennedy, 2011). The plan engages the development of a new consumer base in the unexploited markets of the underdeveloped and developing countries across the globe. Energize me aims at striking deals with established companies that other soft drinks in the underdeveloped countries to help in the production and sales of the brand within the first three years. That would create inroads and the opportunity to test and mold reception of the product in such countries before finally establishing canning and bottling factories in the continents in the subsequent two years (Hiebing & Cooper, 2011). In the near-developed countries, however, Energize me will buy out collapsing bottling companies and reinvest in them to produce the brand. The company will also buy out competitors to limit competition and create a market monopoly. In the two markets, simultaneous rebranding and product differentiation will be carried out to fit the cultural values and practices tagged into the markets. Well laid-out marketing and branding strategies that include creation and sponsoring of events for the development of awareness will mark establishing of dominance in the new territories (Kennedy, 2011). The strategy will more than triple the consumer-base and increase profitability, providing the financial muscle for further competition and development. The graph below depicts the increase in sale of cans Tools for Implementation of Strategy Social Media is the immediate means to reach a larger consumer base. Social media specifically has gained root in the current human social behavior. Facebook, for instance, has gathered one billion users. Twitter, on the other hand, has almost 300million active users and there are 500million monthly tweets. Advertising on the two social media would improve efficiency in reaching out to a large consumer base simultaneously. The social sites also have features that would enable the company to identify and browse people who mention their products thus becoming potential customers. Use of social media balances the economy of scale as they are not as expensive as other media yet have the capacity of reaching out to more people. Performance Standards To reach a significant level of team appraisal, Energize Me will employ the use of two performance standards that offers approved expression of the performance thresholds and requirements. The first would be team participation. The element of performance would ensure that all members of the team participate to ensure the growth of the company. Team participation taps into the creativity and innovation of every member of the team. It creates satisfaction among all the team members thus improving productivity (Kennedy, 2011). The second would be guidance. The technical assistance accorded to all employees would ensure their improvement and ability to tackle every situation that might compromise the productivity of the industry. Monitory Methods To evaluate the input and commitment of company employees, Energize Me will implement the M&E monitory methods. Performance Indicators would be used to determine the level of the inputs and the outcomes of the production processes and interventions. They also measure the processes and the development impact interventions (Kennedy, 2011). Performance indicators are very vital for the evaluation as it is from whence that targets are set and the progress for attaining such targets determined. The second would be the use of formal surveys that collect information that is standardized from a sample of employees. It involves identification of objectives and the risks and links expected along with the results. The survey is key as it would help improve the design of programs (Cherney, 2011). Financial Controls The controls assume key roles in ensuring the company resources are well spent and accurate and updated reports issued. Assets Control would be used by Energize Me to ensure that the property owned by the company conform with their existence and value. The safe-keeping would ensure no company property are grabbed (Johnson, 2014). The financial control that would be used by the company is treasury management. The management of the banking activities and cash flow would control the risks that come with them. With the guidance from CIPFA, capital use and finances schemes would work to the benefit of the company (Kennedy, 2011). Overall Performance Energize Me goals and objectives are achievable for so many reasons key to which are that they have met all factors considers for creation of objectives. The objectives are specific and realistic. They are also time-specific, achievable and measurable. The ambitious objectives would set the company at the helm of productivity and sales both locally and internationally (Cherney, 2011). The factor would triple returns as a result and drive the company into a new era for success as was stipulated in the graph. Marketing Communication Positioning is the most relevant marketing communications for Energize Me. That is because it navigates the importance of claiming the most important and attractive elements in the desires of the consumers (Johnson, 2014). References Cherney, A. (2011). The Marketing Plan Handbook. Chicago: Cerebellum Press Hiebing, R. and Cooper, S. (2011). The Successful Marketing Plan: How to Create Dynamic, Results Oriented Marketing, (4th Edition). New York: McGraw-Hill Johnson, S. (2014). Look Beyond the Product: The business of agile product management. New York: Create Space Kennedy, D. S. (2011). The Ultimate Marketing Plan: Target Your Audience! Get Out Your Message! Build Your Brand! Avon: Adams Media Wheeler, A. (2012). Designing Brand Identity: An Essential Guide for the Whole Branding Team. Hoboken: John Wiley and sons Read More