Marketing_Plan.docx - Running head: MARKETING PLAN 1...

Running head: MARKETING PLAN 1
MARKETING PLAN
Name
Institutional Affiliation

MARKETING PLAN 2
MARKETING PLAN
Product strategy
A product strategy will play a vital role in the marketing of a company product and has
been found to act as the foundation of a product’s life-cycle and plan for further execution geared
towards further development. Therefore the product strategy will act as the product’s roadmap
outlining the product’s end-to-end vision and what it will become in future (Carnrite, 2017). The
product strategy will therefore basically contain three elements that the strategy will be built on
(Pichler, 2015);
Market and needs- the market would be the target customers and product users while the
needs are the problem the product would be seeking to solve or the primary product benefits.
Key features and differentiators- this part of the product strategy would answer and
outline the aspects of the product that are vital in addressing the problem that the product seeks
to solve, and those aspects that would create a benefit that would make people choose our
product over the competitors’ products.
Business goals- this part of the product strategy would answer the question, how is the
product going to help the company? Revenues generation? Act as a catapult for the sale of
another product? Reduce cost? Or perhaps just increase the company’s brand equity. Clear
business goals would help in the selection of the right key performance indicators and effectively
measure the performance of the product.

MARKETING PLAN 3
Branding strategy
The company would majorly rely on seven key components when developing the
branding strategy for the ‘V Fusion + Energy’ product. These components will include (Stec,
2015); purpose- what is the purpose of the product that differentiates it from the competitors? Is it
just to make money or promote healthy energy drinking? consistency- the product messaging
should be cohesive and not confusing to the customers; emotion- there should be a striving to
make the customers involved emotionally in the product processes, to create a sense of belonging
and part of the family; flexibility- in order to stay relevant the company should be flexible in their
product branding as this enable the company make adjustments that build interest and distinguish
our products from the rest; employee involvement- the company employees should be well versed