MKT640_U4IP_2011 - Strategic Marketing Plan 1 Bobby J....

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Strategic Marketing Plan 1 Bobby J. Barnes III American Intercontinental University Strategic Marketing Plan Water Works MKT640 – A Managerial Approach to Marketing October 29, 2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Strategic Marketing Plan 2 Abstract Components of the marketing strategy: objectives, customer target(s), competitor target(s), core strategy, and implementation of the marketing mix, have been defined and put into application. In depth analysis of price, communications and promotion, product policy, channel of distribution, and customer relationship management (CRM) has envisioned the marketing managers’ role in acquiring and retention of the customer ultimately completing the strategic marketing plan of the organization. Keywords: customer relationship management (CRM), marketing, management, customer
Background image of page 2
Strategic Marketing Plan 3 Strategic Marketing Plan: WATER WORKS Introduction The marketing plan is valid once the customer(s) perceives the product as a need and/or want and takes action to purchase. After making the purchase the company has officially “acquired” the customer. The next phase after persuasion is customer retention via customer relationship management (CRM). Mission Statement To promote and support a healthy lifestyle that inspires enjoyment of life. While maintaining innovation, integrity, and excellence in all we do. If you have a favorite color, you are a Water Works (WW) drinker. Objectives In the first year of induction the objective is to make in the range of $7 Million or more. This figure is based upon the research conducted by Joan Schneider and Julie Hall (2011), top execs at Schneider Associates a leading independent public relations and marketing communications firm headquartered in Boston. About 75% of consumer packaged goods and retail products fail to earn even the aforementioned amount in their first year. Reaching or surpassing the objective amount will allow the company to compensate for either a second year slump or to support fast growth. Induction of a new company requires sound establishment and presence in the beverage industry. Currently PepsiCo, Coca-Cola, and Nestle S.A. collectively account for 56.2% of the bottled market volume ( www.datomonitor.com ). Additional companies account for the other 43.8%. Of that 43.8% WW will penetrate 5% of the market share. Considering the infancy of
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Strategic Marketing Plan 4 existence, establishing a presence in the bottled water market is first and foremost the company’s priority. In order to achieve the $7 million in sales the established price for a 1liter bottle priced at $1.09. This price was conceived by taking the average price of Dasani and Aquafina. From there divided $7M/$1.09 which came out to about 6.5Million. Thus: Profit = Units Sold x Price - Costs. Figure 1.1 is a visual presentation. Customer Targets
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 15

MKT640_U4IP_2011 - Strategic Marketing Plan 1 Bobby J....

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online