Assignment 3: Market Plan Section 1 Preface: You are the new marketing manager t
ID: 454846 • Letter: A
Question
Assignment 3: Market Plan Section 1
Preface:
You are the new marketing manager to The Waters Bottling Company (WBC) of Munsonville, NH. They have never done any marketing for their water before so they will need to be educated as to the role of marketing in their company’s success. They started their company last year and want to “do it right” according to their president and founder, Dr. M. Waters. (The M stands for Muddy so he prudently only uses the initial. He also is rather fond of Blues music, which he would like to incorporate into the marketing plan in some way.) They want to sell their crystal clear, granite filtered mountain water to the “right” market. It is your job to identify that target market. At this point, they don’t even know how the product should be packaged or have a name to identify it. You will get to make that determination and carry that product through the entire Marketing Plan.
Imagination and creativity combined with solid marketing concepts will be the basic framework for your report. They will be relying on you for all of the details to make this product successful. They are well funded and ready to bring this product to market, with your help and guidance.
Use the attached Marketing Planning Guide to build your marketing plan for their naturally mineral rich pure mountain water. Be sure to relate the marketing concepts/ theories to this product/ company as you build the marketing plan over the length of the course. The competed sections of the marketing plan will be submitted in the Dropbox for each module. Use each of the outline items as headers/ subheads for your analysis. Be concise and apply each of the appropriate concepts to the WBC scenario.Create a 4- to 6-page Word document for your Marketing Plan Section. Apply a standard business writing style using the Market Planning Guide sections as your (headers/ sub heads/ bullets) to your work. Be sure to cite your work in the APA format.
Explanation / Answer
Company Name: The Waters Bottling Company (WBC)
Commercial Product Name: Dr. Water
Industry: Food and Hydration
Introduction
The main purpose of this work is the implementation of Marketing Plan of The Waters Bottling Company (WBC) of Munsonville, NH dedicated to the heading of waters in the market; it would initially only work with mineral water under the name Dr. Water and in short-term other types of beverages would be released, to achieve this, at first will be made the investigation design, where the scientific problem is exposed, general and specific objective, investigation objective, scope, assumptions, practical and theoretical value, and expected results. Organizations not only sell but also buy huge quantities of raw materials, manufactured parts, facilities, supplies commercial services, etc. The target markets are divided into consumer markets and resale or retail markets. Consumer buyer purchase for personal use or for family groups and resellers acquire the product for resale to consumers for an utility. The characteristics that differentiate it with consumers markets are smaller and larger buyers, close relations between the supplier and the customer, geographic concentration of buyers, among others. Segmentation. Some of the variables of influence of the segmentation analyzed in the consumers’ market are analyzed in the organizational market. The main variables used for segmentation of organizational market are: demographics, characteristics of activities, position before shopping, and personal characteristics.
2. General Objectives
• Achieving the positioning of our product on the market after knowing their environment and variables. To be the number one supplier of mineral water.
3. Specific Objectives
• Being aware of the consumer opinion regarding various aspects that relate to the characteristics and tastes of Mineral Water.
• Getting to the final consumer at a price equal to or less than direct competition because it is the only way to position itself in the market as a brand.
• Position Dr. water mark in the mind of the consumer as first choice by consuming mineral water.
• Cover the domestic market in the medium term and specifically in areas where the state fails to provide and has a lack of drinking water.
4. Vision
We want to position The Waters Bottling Company (WBC) in a medium and long term as a leader in the supply and distribution of mineral water for consumption and in the future with our functional waters. The company aims to reach all consumers the best price and be the first choice in terms of provision and WATERS consumption without losing the quality and benefits of bottled water.
5. Mission
Our project will focus on The Waters Bottling Company (WBC), with Dr. Water product which is dedicated to providing consumers with hydration to the human body leading a healthy lifestyle that helps prolong it. Also contributing minerals to the body. All this through the development and treatment of water through a process of "EFFLUENT TREATMENT SELECTIVE" thus achieving closer and getting the taste and properties of natural mineral water and provide the customer / consumer a differentiated service according to needs and use of each channel.
The product is intended for all types of consumers, age, sex, socioeconomic status, specific channel since there is no limit or age difference or some other factor in the consumption and use of water other than purely economic.
Geographic location
Since our product can achieve a high level of segmentation in relation to the geographic area in which we operate, it does not have the same acceptance or the same purpose in some areas than in others. Do not forget that there are areas where the water supply is scarce, so the population turn to other home providers who are also affected in some times and certain areas and do not have enough technology to provide good service. The plant and the offices of The Waters Bottling Company will be located in the city of Munsonville, NH. From there depart product transportation. In a second stage, to reach distribution at country level, the company would need distributors in each locality and to send the product to the warehouse of the same and the subsequent resale market in distribution channels again. In relation to other companies dedicated to the heading of distribution and supply of water, we report poor service, hence the interest of our company is to dump the shares in area and then expand.
SWOT analysis
Since during the course and realization of the project has been carefully detailing each and every one of the strengths and weaknesses that has our company, then we describe in summary all of them, and a brief description of the opportunities and threats has following the above.
This description will be made by the different areas that the company owns.
- Distribution and Storage:
Strengths:
- Little diversity of products.
- own freight.
Weaknesses: - environment sensitive products. - Short consumption period because of product quality.
Opportunities: - Accessible to any geographic market. - Possible increase of production to take advantage of opportunities in the price of raw materials.
Threats: - weather conditions. - possible saturation of distribution network by high demand.
Marketing:
Strengths: - Product high rotation. - good image in the market. - Accessible to all types of consumer prices.
Weaknesses: - Little activity in communication.- unknown Product. Opportunities: - Consumer Dissatisfaction in some competitive products. - High prices of waters of competition.
Threats: - Possible emergence of competitors with large investment in communication. - The consumer does not accept or access product testing.
- Products:
Strengths: - It is a good enough car quality. - accessible price.
Weaknesses: - Product not known.- Distrust and skepticism towards the product.
Opportunities: - Being new product you have great opportunities to enter to the market. -price: Product easy to sell.
Threats: - The emergence of new competitors.
Market study
Our company is aimed at both the domestic sector and home consumption or for the labor sector even to offer a product of excellent quality and affordable price.
Customers are divided into two groups; domestic or family user and the worker or in the workplace, using the same product for both segments, varying only the size. For example: for individual consumption size in ½ liter bottle and for consumption to family or even in the workplace the 20 liter or 2-liter bottle. In organizational or target market you can make a micro segmentation and also a macro segmentation In the macro segmentation buyers are not only different purchasing habits, but above all needs and expectations. The goal of segmentation is to analyze the diversity of needs within markets products identified in the analysis stage. In the market analysis of the economic situation it is critical and the status of other similar markets will allow us to draw conclusions for which we are analyzing. The product will be provided in the domestic market, initially in the geographical area of New Hampshire on a trial basis during the first half, later extended to country according to the level of consumer acceptance.
Introduce the product in the traditional market (Home) and non-traditional
Traditional Channel: supermarkets, groceries, stores, supermarkets, bakeries, cafeterias, etc.
Nontraditional Channel: convenience stores, hotels, motels, canal work (public and private offices) etc.
Direct sales every house: the 20 liter.
Consumer characteristics, consumption and clientele Customer Orientation: A company may have defined their market carefully, however, fail in their consumer orientation. Customer orientation requires the institution to define customer needs from the point of view of the latter and not from the point of view of the institution. Each product has many aspects that management cannot know without investigating the potential consumer. The goal, after all, is to sell through the satisfaction of customer needs. In other less competitive times, the company put on the market the product I wanted, and the customer had to buy what he had. Today, the client "knows more than we do" our own products, demand specific characteristics and suited to their needs, and the company must go through it. Today, customers have become aware, even before its suppliers, the need for quality in products or services. And they are demanding that quality, plus a contractual manner with the presentation of official certificates to support it. This has made companies try to minimize their costs because of the intense competition in the market, and at the same time improve the service offered to the public. There have been some cases of direct competition with products like but most of them do not meet the specifications required by the standards required by the Ministry of Health and the companies that distribute not have a structure technically or financially healthy enough to prove a strong threat to our company. This market research mineral water, shows that consumption of mineral water, is independent of sex and age, but depends on the socio-economic level, price, attributes and product presentation.
Priority for attributes: price. Current prices generate discontent in the consumer, but continue to acquire the product because it has no alternative. We must provide service delivery and introduce the product in supermarkets, service stations and not to neglect neighborhood stores. Consumers do not opt for the brand, but for the price and product availability.
Company Strategies
Intensive Growth Strategies: intensively cultivate current markets the company: • Penetration Strategy: by offering more convenient than the competition and advertising activities, personal selling and sales promotion price. • Market Development Strategy: Attracting members to our market, those segments that has not been there yet, as new geographical areas or channels which still has not been penetrated. • Product Development Strategy: Develop new products to attract members of existing markets, developing a new presentation of our product that provides additional benefits to customers. (Long-term FUNCTIONAL WATERS)
Integrative Growth Strategies: Leveraging the strength that our company has to exercise control over suppliers, distributors and / or competitors.
Diversified Growth Strategies: • Horizontal Diversification Strategies: Adding new products to the product line of the company, which are not related to existing, but are designed to appeal to members of the target markets of the company. • Conglomerate Diversification Strategy: Sell new products unrelated to existing ones, to attract new categories of customers. Challenge Market Strategies: Strategies that our company can take against the market leader: • Frontal Attack: This involves attacking all marketing mix (product, price, distribution, promotion) the leader. • Attack on the sides: It consists of focusing on the weak points of the leader, as the price. • Derivation Strategies: Focus on areas that are not covered by the leader.
Niche Market Strategies: Provide services to niche markets that larger competitors often overlook or ignore their existence.
Multiple Segments strategy: Identify and markets several groups of potential customers and generate a marketing mix to reach each segment, so elaborate a different version of the basic product for each segment, with tiered pricing, distribution systems and promotion programs adapted for each segment. It must be added to all this the strategies of the company in terms of advertising techniques market entry:
• No investment will be made in advertising in mass media such as radio and television because at an early stage we are only in the geographical area of New Hampshire.
• other advertising media such as brochures, flyers, magazines publishing in the area of health would be used. • Approval of professionals in the field of health.
• Tastings of Dr. Water in social and sports clubs, convenience stores, supermarket chains, major public offices and private offices, shopping, etc.
Conclusion
In developing this work we understood how to position our brand and how to structure and plan the theoretical performance of our company in the market in order to reach consumers Dr. Water product offering good quality and at an affordable price. We were able to understand what is a niche market and the importance of achieving good coverage. Through SWOT analysis we discover weaknesses opportunities, strengths and threats of our product in the market. Our market is diversified into which employ several strategies to insert the product. We developed the organization chart. its vision and mission short and long term. The types of consumers according to the product and distribution channels. We saw that through market research can determine which strategies to target and position the product.