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Marketing Plan: Phase Ii (Pepsi) Essay

1251 words - 5 pages

Introduction: In phase II of our marketing plan, Pepsi is consistent in introducing a new product and service that will easily outsell its competition. In achieving this goal, marketers have defined critical factors that will determine the buyers and consumers of our product. In creating an effective marketing strategy, Pepsi will address key characteristics that effect the decisions and purchasing power of consumers that involve market segmentation, organizational buyers/consumers, influences and purchasing decisions, competitors and landscape of our product offering.Market Segmentation: The purpose for segmenting a market is to focus the market plan on the target group that is most likely to purchase the product offering. If the segmentation is done properly, it will help ensure the highest return for the company's marketing and sales expenditures. Specific distinctions need to be considered when defining market segments.The initial segmentation is to establish a category of need that Pepsi's natural fruit juices satisfy. Does Pepsi's product satisfy social esteem or pleasure? Or does the product satisfy a functional requirement of the consumer? Pepsi's new natural fruit juices meet a functional requirement of the consumer.The next step is to establish what need the product would fulfill and who is most likely to experience that need. Pepsi's natural fruit juices fulfill the need to be involved with a social trend. That social trend would be weight loss and health concerns. Another need these fruit juices would fulfill would be a specific need. That specific need would be individuals who are interested in eating, drinking, and living in a more healthy way.Now that a general target population has been established a more detailed market analysis may be performed. Literally thousands of ways exist to segment a population; this paper will look at several more typical segmentation categories that could apply to this product. The segmentation category that best fits this product would be the response to a fad. In this case the fad would be a healthy lifestyle by consuming all natural foods. Another segmentation category that would fit this product would be special interests. The special interests would be a high health conscious and an interest in being natural.The general target population would be health conscious adults who have an interest in natural foods. Now that the target has been isolated, the next thing to consider is the subtle influences on the purchase decision. Some of these influences are a preference for a channel of distribution, volume requirements, the ability to use the offering as it was intended, the commitment required, brand awareness, the attitude toward the advertising personality, the attitude toward price versus value, the experience with other products Pepsi has offered, and after the sale support expectations.Seller characteristics can also influence the purchase decision. How the prospective target perceives Pepsi can...

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