• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Principles of Marketing

Extracts from this document...

Introduction

N Just drink it Module Code: Module Title: Principles of Marketing Tutor: Name: Personal ID: JMU ID: Course Title: BA Hons Degree in Business Management Table of Contents 1. Market Analysis 3 1.1. Market Potential 3 1.2. SWOT and PEST Analysis 3 1.3. Competitors 4 1.4. Market Research 5 2. Segmentation and Targeting 6 3. Positioning Strategy 7 4. N-Sport Characteristics 8 4.1. Core Product 8 4.2. Actual Product 8 4.3. Augmented Product 8 4.4. Packaging 8 4.5. Branding Strategy 9 5. Pricing Strategies 9 5.1. Pricing objectives 9 5.2. Pricing Strategy 9 6. Distribution 10 6.1. Logistics 10 6.2. Number of outlets 10 7. Marketing Communications 11 7.1. Communication objectives 11 7.2. Advertising 11 7.3. Monitoring of Marketing 11 8. Review and Control 11 9. References 12 10. Appendices 13 10.1. Appendix A 13 10.2. Appendix B 14 1. Market Analysis 1.1. Market Potential A 600ml bottled Sports drink from the Nike Corporation, called N?Sport. It is designed to give athletes and amateurs the energy required to perform in sporting activities. N?Sport has a dual marketing appeal, firstly to professional athletes. The UK has a vast sports industry valued at over a billion GBP per annum. Additionally there is the amateur/snack market. ...read more.

Middle

This is because we will be positioning our product in direct competition with other sports drinks from global brands, such as Coca Cola and PepsiCo. Our product will be different from the others as it will be solely a sports drink whilst our competitors all derived from soft drinks. A positional map has been drawn up to show where we believe our product would be placed compared to our competitors. Needham et al (2003, p.41) explain that positional mapping is a useful tool to assist positioning as it sets out customers perceptions and preferences for different products. Bottled water High Price Powerade Lucozade Sport Low Quality High Quality N?Sport Low Price As you can see the N?Sport is of high quality with the low cost and this is how we want to position ourselves and this will be explained later in the pricing strategies. 4. N-Sport Characteristics The three levels of a product are shown below. An example of the three levels of a product can be found in Appendix B 4.1. Core Product Provides target market with a high energy boost to stimulate and support the body during levels of performance. 4.2. Actual Product N?Sport will be presented in a 600ml clear plastic, 'squeezy' bottle with sports cap. ...read more.

Conclusion

140) 'Communities and Strategic Partnerships' has been used for our marketing process. Attention: A campaign to generate initial interest for N?Sport during the first few weeks of September, as most people will be getting back into a routine after the holiday period. The next three stages continue the process runs consistently. Interest: To promote the features and benefits of N?Sport as an essential tool in physical activity. Desire: To persuade the target market that N?Sport is a 'way of life' that all should aspire to. Action: To present a finished, recognisable product that the consumer will want to buy. 7.2. Advertising We plan on utilising Nikes already established celebrity clientele and those who endorse the product will be current recognisable sporting names that already receive high media coverage. Television/media -This fits in with our target age because when it comes to the advertising they are going to pick Wayne Rooney over Teddy Sheringham or Jamie Murray over Pete Sampras. Magazines - Football Magazines, Mens Magazines and Health and fitness. Internet - Nike.com 7.3. Monitoring of Marketing To assess the success of our marketing strategy we will carry out a marketing/sales review after the first four months of the products release. Customer feedback will also be sought through surveys. 8. Review and Control The product/sales evaluation will be accessed by our staff through product recognition surveys from the general public. Actual sales figures and profit/demand 9. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Marketing section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Marketing essays

  1. Chapter Notes on Marketing Management by Philip Kotler 10th Edition

    Sales revenue (estimated figure on the assumptions about market growth, company's share and factory realized price) 2. Cost of goods sold (estimates) 3. Gross margins 4. Development cost (includes product development and market research cost) 5. Marketing costs (advertisement, sales force and administration)

  2. Dairy Milks current marketing strategy

    The radio however can be used to target audiences such as young adults. Internet The growth of the internet was due to the growing interests to businesses to advertise on the internet. The word wide web allows businesses to advertise anywhere around the world.

  1. PowerAde and All Sport: Muscling in on the Sports Drink Market

    Rather than focusing only on sports stars, Power.\de targets all athletes-professionals, amateurs, and any individuals interested in fitness. By introducing packaging changes such as the 24-ounce Powerflo PET bottle, Coca-Cola hopes to make its product a piece of equipment that better meets the user's needs.

  2. Marketing Dissertation. An investigation of Celebrity Endorsement, with particular focus on the long-term ...

    and who uses this recognition on behalf of a consumer good appearing with it in a commercial" McCracken (1989) 1.1 Aim The aim of this study is to explore the commercial influence of celebrity endorsement with particular focus on the extent that this could influence celebrities ability to be commercially

  1. A critical analysis of cross cultural celebrity endorsement: David Beckham

    (Bradley 1996). Research carried out so far has focused on the realm of source credibility and attractiveness models by Ohanian (Pornpikitan 2003). These models focus on how celebrities exert influence through perceived expertise , trustworthiness , attractiveness , familiarity and likeability .Some have even ventured into examining the celebrity and the product.( Choi, Lee and Kim, 2005 )

  2. Analysis of Marketing Plan of Nike and Michael Jordan

    This gave Nike the perfect platform to develop and market their new star and the products that he endorsed. During the first few years Nike introduced Jordan to the public and Jordan familiarized himself with the American public. Nike ran a series of ads with Jordan and film director Spike Lee.

  1. Marketing a new snack in Vietnam.

    and entertainment places (MegaStar Movie, Dam Sen Theme Park, Lan Anh Stage etc.) 1. Patronage Rewards ? by buy a package of Poca, the customers will receive particular points (depending on the sizes of packages) and submit the serial score via Poca website.

  2. PROJECT ON MARKETING STRATEGIES OF BPL COLOR TELEVISION

    process More frequent contract by company sale person Better after sales service Better adv. & publicity SD 3 -- -- -- 2 4 ND 2 -- -- -- -- 5 C & E 2 -- -- -- 3 4 WD -- -- -- 2 -- 3 Total 7 -- --

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work