Marketing Plan: Your company has just developed a new sports drink that is in a container which will keep it cool for up to 6 hours. Write a 3 page paper discussing how you would market the product.
Running Head: COOL CONTAINERS MARKETING PLAN 1
Cool-Containers Marketing Plan
COOL-CONTAINERS MARKETING PLAN 2
Cool-Containers, a successful company has recently developed a new and improved sports drink. This sports drink comes in a newly designed container that keeps it cold for a maximum of 6 hours. As a way to …show more content…
Also, this allows promotions to consumers and increases the company’s overall profitability all at the same exact time.
Strategic Partnerships It is important for the company after differentiation to keep an open mind to other strategies in marketing that may arise. The competitive advantage of the company is extremely flexible, and with strategic partnerships the benefits of the newly designed containers can be applied in other kinds of products. In turn, the company will grow by expanding the line of products the company currently carries and sharing the expenses of publicizing (Monplaisir, Malikane, & Ojah, 2009). As a case in point, in the application of this specific strategy the company can state that a strategic partnership with a business in the market that sells dairy products can be attractive for both parties because the notion of the newly designed container is the same, keeping a product cold for a long period of time and making it easy to transport without needing any kind of ice chest or freezer. The results of this kind of strategy and maintaining the total percent of market sales of the product will enable the company to get into other types of markets with a strong company image.
Identify a Target Audience It is very important, when marketing the new “Strawberry Sports Juice Drink” in the newly designed container, for marketers to create a strategy plan that will identify a specific type of audience. In