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One year Marketing plan for Glite
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One year Marketing plan for Glite

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This was our project for one year marketing plan for a new product called Glite for Gatorade. I hope you guys like it.

This was our project for one year marketing plan for a new product called Glite for Gatorade. I hope you guys like it.

Thanks and tc

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One year Marketing plan for Glite One year Marketing plan for Glite Document Transcript

  • December 2011GATORADE GLITE MARKETING PLAN – JAN 1 – DEC 31, 2012 Group Assignment Mark 1027 | Prasad | Idris | Udit | Noor
  • Table of Contents:Marketing Objective pg3 SMART Objectives Financial and market ShareSegmentation & Target Market Analysis pg3 Target Market Targeting Strategy Consume ProfileProduct Strategy pg5 Positioning Strategy Positioning Statement Point of Difference vs. Competitors Brand name & rationale PackagingPrice Strategy pg9 Retail Price Points Comparing potential substitutes Internal and External factorsChannel Strategy pg10 Distribution StrategyPromotion (IMC) Strategy pg12 Target Audience Communication Objectives Creative Strategy Evaluation and Selection of mediaFinancial Analysis pg15 Market Size/Share estimate Income Statement IMC budgetImplementation and Evaluation pg17Appendices pg18Citation pg21 2 Marketing Project |Gatorade | Glite| December 2011 |
  • Marketing Objective To achieve 78% market share (increase by 3%) of the sports drink by December 31, 2012 To achieve year one sales revenue CAD $100 million for Glite by December 31, 2012 To achieve 60% awareness of Glite among the target audience as measured by marketing research by December 31, 2012 To increase in-store capacity and product placement for optimal salesSegmentation and Target Market Analysis Sports Drink (Primary) Between 15 – 27 years of Age Colleges Students and Young professionals Individuals who like working out (Due to the nature of their job and busy schedules, they require instant replenishment so that they can go on with their day to day activities) I. Geographic Segmentation Region : Canada Area Size : All of Canada (approx 10 million sq km) Density : Urban and Rural Climate : All Season II. Demographic Age : 15- 27 years of age Gender : Male/Female Income : not specific Occupation : College and professionals Education : not applicable Race : not applicable 3 Marketing Project |Gatorade | Glite| December 2011 |
  • Home Owner : not applicable III. Psychographic Personality : Young, energetic, enthusiastic Lifestyle : healthy and lead an active lifestyle IV. Behavioral Usage Rates : Regular Basis User Status : Regular User Benefits : Instant Energy, No fatigue, Vitamin and quenches thirst Loyalty : All sports drink and energy drink usersConsumer Profile (Ideal Customer) John Doe, 22 year old, young professional is busy throughout the day with his work andin the evening he is finding out ways to relax but is too tired, he is looking for a drink which ishealthy and will keep him fit for the entire day. He is an adventures kind of person who lovestrekking or cycling during his week off and also prefers regular exercise 4 Marketing Project |Gatorade | Glite| December 2011 |
  • Product StrategyPositioning Strategy A. Product Attributes - Tasty (different flavors) - Replenishes energy - Instant energy boost - Rehydration - Cool Design 5 Marketing Project |Gatorade | Glite| December 2011 |
  • 6 Marketing Project |Gatorade | Glite| December 2011 |
  • Positioning statement “Especially for thirsty individuals and athlete, Glite is a sports beverage that quenchesthirst and enhances performance by replacing fluids and electrolytes lost due to day to dayactivities or regular work out” Presents“In a dark room a person hopes for a ray of light, similarly during daily strenuous activities a tired person hope forinstant boost which immediately enhances his strength and kills dehydration. lite here represents that source of energy,where G is for Gatorade.” (Rationale) 7 Marketing Project |Gatorade | Glite| December 2011 |
  • Packaging and Labeling (946ml)8 Marketing Project |Gatorade | Glite| December 2011 |
  • Price Strategy  CAD $2 (approx for three unit) (Completive Pricing - industry average)  Special offers free one day Gym pass if bought between promotional period (until April 2012)  Introductory pricing CAD $1.50 (for three units) for the first 3 months (competitive prices are similar) (Promo Offer- Market Penetration Pricing) Prices of sports drinks in Canada Brand Units CAD$ PowerAde 3 $2.00 Vitamin water 3 $8.97 Glite 3 $1.50 Internal Factors: Products in same category are priced in same range External factors: Competitive pricing 9 Marketing Project |Gatorade | Glite| December 2011 |
  • Channel Strategy Distribution (Distribution depends on Customers need, Product characteristics and local trade practice) Direct Store Delivery (DSD) Since bottling is done by independent bottlers and they distribute through DSD systems in which beverages are directly delivered to the stores. By DSD we will be able to merchandise Glite with maximum visibility and appeal e.g.: Wal-Mart, Shoppers Drug mart, metro etc.. . Food service and Vending Glite will be distributed to third party food service and vending distributers. This distribution system will supply Glite to restaurants, business, school, stadium and similar location e.g.: Vending Machines in Colleges, Universities, Shopping mall, Public transport locations (TTC) and Airport Terminals etc… 10 Marketing Project |Gatorade | Glite| December 2011 |
  • Promotion o London Olympics 2012 o Tie ups with Gymnasiums (for free one day pass) o Sports sponsorship (Maple leaf, Raptors etc...) o Print ads and billboard across Canada o Free samples will be distributed at various locations (School/College sport events) o Sponsoring different events across Canada o Promo Video on YouTube and Social Network websites (Facebook, Twitter)11 Marketing Project |Gatorade | Glite| December 2011 |
  • Promotion StrategyTarget audience: 15-27 years Young Professionals Athletics Body Builder/ Work out PeopleCommunication Objectives:InformTell our targeted audience what Glite is, what it can do, and where it can be found and increasegeneral :- Awareness of Glite. To generate trial. To build the Glite, Gatorade and PepsiCo image. To correct false impressions about the manufacturing company. To explain how the product works.PersuadeAnd also to persuade the target audience to select the firm’s brand not the competing product To increase Glite’s preference. To promote Glite brands features and benefits. To make Glite more important as competition increases. 12 Marketing Project |Gatorade | Glite| December 2011 |
  • Creative StrategyOur Creative strategies are making an excellent communication to our targeted audience ofGlite through the following channels Advertising, Sales Promotion and Publicity (Public RelationCampaign). We choose this channel because we know this is best way to capture our targetmarket.Evaluate and Select Media 1. Advertising:Any paid form of non-personal communication about an organization, good, service or idea, byan identified sponsor Broadcast (TV, radio), Print, Outdoor, Online. • We want to affects both attitudes and behavior of Glite Customers. • Reaches large, geographically dispersed audiences, often with high frequency. • External audience. • Investments spend (long term, brand-building tool). • Low cost per exposure (overall costs are high though). • Sales occur at some undetermined point in the future. • Measuring effectiveness can be a challenge. • Deliver a clear, consistent message to the targeted audience. • Mass media (“Traditional media”) • Reach large numbers of anonymous audience members • A one-way monologue • Niche media • Reach a smaller, targeted audience, social media we used Facebook and YouTube. • Media Selection Criteria, Match to media habits of target 13 Marketing Project |Gatorade | Glite| December 2011 |
  • 2. Sales Promotion:Short-term incentives to encourage the (immediate) purchase or sale of a product .Can beaimed at both end user consumers or channel members. Quick action sale Often take the form of price incentives. Short lived. Generally affects behavior, not attitudes. Produces results quickly Measurable. Achieve trial purchase. Achieve repeat purchase. Increase consumption. Attract former users of brand. Combat / disrupt competitor’s strategies. Directed at intermediaries (resellers). Obtain initial distribution. Increase shelf space and Increase order size. Strengthen consumer sales promotions. Discounts .E.g. to promote sale price at shelf 3. Public Relation Campaign:A firm’s communications, activities and relationships with its various publics in order to achieveorganizational goals To influence attitudes, opinions and behaviors. Unpaid media coverage. Media is in control. More credible - works indirectly via 3rd party 14 Marketing Project |Gatorade | Glite| December 2011 |
  • Financial Analysis Income Statement *assumptions USD(As per Datamonitor the Total market value as of 2006 for energy/sports drinks is USD287.2million and predicted to USD375.2 million by 2011 Gatorade market share in Canada isapproximate 75%. Assuming the work force remains the same for Gatorade Brand, and Glitebeing brand extension. Salary not included in this income statement as Gatorade workforce isbeing used, additional work force (e.g. PR) will be added to this chart) 15 Marketing Project |Gatorade | Glite| December 2011 |
  • Integrated Marketing Communication (IMC) Budget USD Implementation Chart (Advertising plan) December 201216 Marketing Project |Gatorade | Glite| December 2011 |
  • Implementation and EvaluationOur main aim is to achieve 78% market share (increase by 3%) of the sports drinks by December31, 2012, achieve year one sales revenue CAD $ 100 million for Glite by December 31, 2012,achieve 60% awareness of Glite among the target audience as measure by marketing researchby December, 2012 and to increase in-store capacity and product placement for optimal salesand compare with our actual plan by the end of December 2012 in order to identify whether wefall below or surpass our target. We will compare our actual sales, expenses, profitability andmarket share against forecasted sales, expenses, profitability and market share. These will bemeasure on an on-going basis in order to ensure we are meeting our quarterly and annualgoals. We will measure our effectiveness of our promotional campaigns as well as level ofawareness and acceptance of our brand Glite in the market. We will examine the extent ofwhich our implementation strategy enable or affected our ability to maximize sales whileminimizing expenses. All this information will allow us to identify areas where our strategyneeds improvements so that corrective actions can be taken in a timely manner. 17 Marketing Project |Gatorade | Glite| December 2011 |
  • Appendices /metro and Loblaw retail price year2011 //sample nutrition of energy drink changed year2011 18 Marketing Project |Gatorade | Glite| December 2011 |
  • Assumption Jan – Dec 2012Assumed IMC BudgetAssumed income Statement in USDAssumed Point of Difference 19 Marketing Project |Gatorade | Glite| December 2011 |
  • Assumed Perpetual Maps 20 Marketing Project |Gatorade | Glite| December 2011 |
  • CitationsGatorade Company; Novelguide, 2011.http://www.novelguide.com/a/discover/cps_01/cps_01_00112.htmlGatorade; Bevwire, 2011. http://bevwire.wordpress.com/tag/gatorade/Street & Smith, Gatorade Sales, Sport Business Daily, July 3, 2009http://www.sportsbusinessdaily.com/Daily/Issues/2009/07/Issue-212/SponsorshipsAgriculture and Agric Food Canada, Market Analysis Report, August 2010http://www.ats.agr.gc.ca/inter/5569-eng.pdf Retrieved 12/12/2011Datamonitor. Mega Trends: Health. (2009).Euromonitor International. Functional Drinks – Canada. (May 2010).Euromontior International. Snack Bars in Canada. (October 2009).Mintel. Non-alcoholic Beverages: The Market—U.S. (April 2010).Today’s Sustainable Choices, Metro Richelieu, 2011 < http://www.metro.ca/en/on/home.html>Stan Reents, Sports Drinks and Recovery Drinks, AthleteInMe.com, November, 2011http://www.athleteinme.com/ArticleView.aspxChristy Hammond, Marketing Sports Drinks, New York Times, April 2007Agriculture and Agric-Food Canada, "Market Brief: The Canadian Energy Drink Market" April,2008 http://www.ats.agr.gc.ca/can/4469-eng.htmWiley .Com, Online Library, http://onlinelibrary.wiley.com/doi/10.1111Energy Fiend, Energy Drinks. < http://www.energyfiend.com/category/energy-drinks >. Feb 15,2009.McGraw-Hill Irwin, Marketing Canadian Edition, McGraw-Hill Ryerson Limited, 2009. 21 Marketing Project |Gatorade | Glite| December 2011 |