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Final Marketing Plan Paper Surgey Perez, Adrine Jason, Shirtiar Beasley, Gena Brooks University of Phoenix Introduction As consumers, we are very accustomed to finding products where we need them, when we need them at the price we are willing to pay. This has become such an automatic part of the buying process that we seldom give much thought to how all of this occurs. To put it simply, all of this occurs because of marketing. A great deal of thought has been given to your preferences and buying habits in an effort to keep you as a customer.
In this paper, we will discuss, within the scope of a specific company, the product, place, price and promotion that is used as part of marketing strategy to generate hundreds of millions of dollars in annual sales. Where appropriate, research material will be cited to clarify the discussion. With this in mind, let’s begin our discussion of business marketing. As PepsiCo markets new the brand of soft drink the company needs to create successful mix of the right product, sold at the right price, in the right place and using the best and using the most appropriate promotion.
The marketing mix is created to meet the following environment, the product; the new brand of soft drink should have the right features, such as the brand must look good and work well. The price must be right so that the customers can buy in large numbers so that PepsiCo can make a healthy profit. The Diet Slim Can must be in the right place at the right time. Making sure that the Diet Slim Can arrives when and where PepsiCo wants is an important process. PepsiCo’s target group needs to be made aware of the existence and availability of the new soft drink beverage through {draw:frame} promotion.
Successful {draw:frame} promotion helps PepsiCo to spread costs over a larger output. Therefore marketing plays a key role in determining such aspects as of the product – in line with the requirements of the market and the function of the new soft drink brand. In launching and promoting this new brand key market research must be done to address and identify the needs of customers (Drypen, 2009). Sales Promotion Schedule In the initial promotional weeks, PepsiCo is concerned with testing the new brand with the market before the initial release of the new Diet Slim Can.
The sales promotion schedule should start by writing an outline of PepsiCo’s marketing strategy. PepsiCo should then begin by gathering required information for each all sections of the outline for example advertising, promotion and price. Then PepsiCo should complete the outline helpful tables, charts and graphs. The outline can also be used for a presentation piece (Tom Gerlardi, 1999). The company should also organize a release party in conjunction with the PepsiCo promoting the new brand by radio.
This release part will both be an invitation and information piece to the customers of the new soft drink beverage. By doing these things, PepsiCo is trying to excite to excite the customer market regarding to the new product. Promotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The razzmatazz, pace and creativity of some promotional activities are almost alien to normal business activities (Steven McNamara, 2002-2008). Advertising Plan
An advertising plan is an outlineguide to put the brand in action. The action plan consists of these main goals. The objective of PepsiCo, where is PepsiCo trying to take the new soft drink beverage and how the end-result is determined. Some advertising examples are annual advertising plan prepared internally for a Fortune 500 company to characterize and project the Diet Pepsi Slim Can. PepsiCo can also present a power point presentation as to what big picture is, regarding budgets, creative and direct response themes, special events, and evaluation tools of the target market.
Team A final Marketing Plan paper will summarize working on PepsiCo, in order to complete the final paper, one will be able to identify the segmentation criteria that impacts PepsiCo’s target market. A description of PepsiCo buyers and consumers will be provided and we will explain the factors of influence purchasing decisions and how those factors will affect the organization marketing strategy. This paper will analyze the current competitors and will define the competitive landscape for Pepsi Slim Can.
In order for PepsiCo to be successful in selling Pepsi Slim Can, the company must research the marketing community. A productive method of creating a marketing strategy plan is by analyzing and understanding the target market for this type of beverage. Marketing research uses many methods to obtain its results, such as external census data and marketing survey data collected by outside marketing research firms. The data collected through survey is used as a method of understanding customer wants and needs.
Another consumer characteristic of market segmentation is psychographics, which is used to develop a company’s marketing campaign strategy. By having a clear understanding of organizational buying for needs, habits and attitudes can helps one develop a marketing strategy planning. In addition, for those organizational customers than finally become consumers, it may even be possible for some marketing managers to develop a unique strategy for each potential customer. Organizational customers considering a new supplier may be concerned about product quality.
However, this could be less of an obstacle if PepsiCo implements the ISO 9000 quality system. The ISO 9000 strategy will have a positive impact on sales of the new product and in order to understand PepsiCo’s competitors, one uses competitive aspects. The approach to create a strategic marketing plan is to understand the target market in the beverage business. PepsiCo must address the following questions, “what is the demographic of this market”? , “what are psychographics and behaviors of the specific market that has PepsiCo, in regards of selling this brand”? “desires to reach it? “. PepsiCo needs to understand and target their customer’s needs and knowledge their competitors offer in order to create a strategically integrated marketing plan. The principal determining factor to any successful marketing strategy is to understand, provide and target one customers’ needs and wants. The ability to satisfy customers’ needs better than the competitors, will be the first step PepsiCo needs to develop, this will result on build customer loyalty and increase sales. Marketing research uses many methods to obtain its results.
Computer aided methodologies will also be used to collect data on the competitors of PepsiCo such as Coca Cola, and Mott’s Company. One important aspect of marketing research that can assist PepsiCo to increase it sales is by defining how well current customer needs are being met as well as understanding how well the current competitors are meeting their customers’ needs. When PepsiCo is able to answer such questions then it seems that the company is developing a strategic marketing plan that will enable increase their sales by maintaining it current consumer and possible attracting new consumers. Business Link, 2007) In addition, to Starbucks Internationally, PepsiCo brings in the biggest revenue in the beverage industry. One of Pepsi’ biggest competitor is Coca cola. Coca cola extended its’ business to other types of sodas and products. Pepsi’ products consist of Pepsi-cola, Wild Cherry Pepsi, Pepsi Twist, Pepsi One, Pepsi Edge, Diet Pepsi, Mountain Dew, and Fritos-Lay. Fritos- Lays was founded by the Pepsi company in order to stay abreast to its competition with Coca-Cola’s other products. Fritos-Lay is the world’s largest potatoes chip manufacturer. Brand name chips produced by Fritos-Lay are Ruffles, Lays, Doritos, and Fritos.
PepsiCo is not only in competition of its colas but PepsiCo also is in competition with all other products. Other PepsiCo’s competitors consist of bottle water and sports drink. Another consumer characteristic of market segmentation is psychographics, which is used to develop the PepsiCo marketing campaign strategy. Psychographics is the practice of combining psychology, lifestyle and demographics that, is often used to uncover consumer motivations for buying and using products and services. PepsiCo’s marketers usually use manifest motives by soliciting their products or services’ benefits to attract consumers with their advertisement.
For example, a Diet Slim Can Pepsi advertisement provides the calorie amount, features of the can, and the options to choose from. PepsiCo information is intended to make the consumer think, “it has zero calories, a smaller can versus a regular size can. ” The following are all benefits and direct appeals of the product that is being advertised, direct appeals are generally effective for manifest motives, since these are motives that consumers are aware of therefore, will discuss for instance, PepsiCo marketers implement appeals to manifest motives.
In today’s market, the consumers and buyers of PepsiCo are exposed to millions of Television commercials, newspapers and magazines ads that use manifest motives. PepsiCo’s commercials often usesmanifest motives to elicit consumers’ purchase intentions because it is most effective. For example, in one PepsiCo commercial the manifest motive that is used informs consumers directly. One commercial a female enters Bears’ (football team) waiting room, and tasted Coca-Cola, which had too many calories, and then tried diet Coca-Cola, which was too diet and finally the Pepsi Slim Can which was perfect.
The images that were used, is to influence consumers’ needs because, PepsiCo products were compared with Coca-Cola products and each product had different characteristics, for example Coca-Cola can was the original size for diet and PepsiCo can was slim. The characteristics of the PepsiCo slim can made consumers think they were getting more benefits. (Hawkins Best Coney, 371) PepsiCo’s main and consistent competitor and nemesis is Coca-Cola. In the beverage arena, Coca-Cola is deemed the company with the highest volume of carbonated and non-alcoholic drinks international.
PepsiCo has a more assorted merchandise line and is ahead of Coca-Cola slightly in revenues due to launching new and innovative beverages. PepsiCo, Inc; include product lines such as the convenience snacks and foods, in whereas Coca-Cola does not have a current market yet, therefore Coca-Cola cannot compete with PepsiCo in the aspect however; other companies does offer the same or similar convenience snacks and food as PepsiCo for instance, Kraft Food, Inc. Kraft Food is another main competitor with PepsiCo, which includes Frito Lay and Quaker Foods.
Kraft Foods competes with PepsiCo producing snack and food products. Kraft Foods products include cheese, dairy cereal and snack foods. Since PepsiCo is diversified with carbonated, non-carbonated and non-alcoholic beverages along with the snack and food products gives PepsiCo a slight edge over Kraft Foods and Coca-Cola. Globally Coca-Cola has the competitive edge over PepsiCo. Coca-Cola is internationally well recognized. Coca-Cola is a strong and growing presence in developing countries and produces a great deal of its profit globally.
Internationally, Coca-Cola generates more profits than PepsiCo and puts Coca-Cola in a healthier worldwide position to profit from a weakening United States dollar, which is more profitable internationally than in currently in the United States therefore, PepsiCo’s profound dependence domestically, makes PepsiCo more at risk to continuing decline of the United. States’ economy and currency. (Hoover Inc. , 2009). The competitive landscape is often harsh and unforgiving.
The best practice is to understand where you exist today and accept that reality. One will only be able to win against the market leaders by defining your own terms, which means accepting what one can and cannot do. Once a company is clear about its place versus its competitors, it can develop a clear strategy based on reality, rather than hope (Glenn Glow, 1991). ” The leaders of the beverage giants have established the companies domestically and internationally and have saturated, educate and established awareness with the customer base.
Demand for non-alcoholic beverages and products of PepsiCo are determined by customer tastes and demographics. The profitability of PepsiCo depends on successful marketing advertising and new product lines. (Hoover Inc, 2009). PepsiCo will collect data in order to determine what segmentation of the population will target. When PepsiCo decided to launch the new Pepsi Slim Can, the company was focus on to target consumers that are interesting into the healthier and less calories needs.
Coca-Cola isPepsiCo biggest competitors and PepsiCo believes that by changing the designing of its product, this strategy will attract new consumers and will open the door to marketing with a new vision in the segmentation market. The product life cycle model follows a course of birth, growth and maturity and death. Direct the course of your company’s products by anticipating their position on the curve by taking a comprehensive approach to marshalling internal resources from research and engineering to sales and marketing, as well as monitoring market forces such as globalization with multi-country outsourcing and Internet connectivity.
Whether you’re a budding entrepreneur with the next “big thing” or an executive tasked with managing a portfolio, understand some product life cycle key terms by: Distinguishing the nuances with the meaning of product itself; accurately measuring time to market and; Understanding your products’ place within the MaLife Cycle Costs. One of PepsiCo Slim Can products attributes is their packaging. PepsiCo feels their first impression is extremely crucial to their products.
Customers evaluate products by first impressions for example, Pepsi diet slim can represents slim and shapely bottles to encourage consumer to purchase their product to become more slim and shapely in size. The product life cycle model follows a course of birth, growth and maturity and death. Direct the course of your company’s products by anticipating their position on the curve by taking a comprehensive approach to marshalling internal resources from research and engineering to sales and marketing, as well as monitoring market forces such as globalization with multi-country outsourcing and Internet connectivity.
Whether you’re a budding entrepreneur with the next “big thing” or an executive tasked with managing a portfolio, understand some product life cycle key terms by: Distinguishing the nuances with the meaning of product itself; accurately measuring time to market and; Understanding your products’ place within the MaLife Cycle Costs. One of PepsiCo Slim Can products attributes is their packaging. PepsiCo feels their first impression is extremely crucial to their products.
Customers evaluate products by first impressions for example, Pepsi diet slim can represents slim and shapely bottles to encourage consumer to purchase their product to become more slim and shapely in size. The life cycle is in reference to the product and how it is created from beginning to end. “The conditions a product is sold under will change over time. The Product Life Cycle refers to the succession of stages a product goes through” (Wikipedia). This includes but is not limited to “acquisition, installation, operation, maintenance, refurbishment, disposal fees” (South).
There will be cost from planning and research, obtaining the materials, processing the materials into a product, keeping the equipment and machinery up-to-date and in good repair, to disposing of the waste and selling off the product to distribute or Market Mix and the product life cycle. John Bradley Jackson stated that the positioning strategy is what the customer believes about one product’s value, features, and benefits. Customers most likely do a comparison of on product or services to the other available alternatives offered by the competition.
These beliefs tend to based on customer experiences and evidence, rather than awareness created by advertising or promotion. However, PepsiCo will position Pepsi Slim Can by focusing in the following positioning strategies including pricing, promotion, channels of distribution, and advertising. (Jackson, 2009) One of the most important elements of the marketing mix is price. This core element may be a difficult element to managing in marketing the new Slim Can product by PepsiCo .
The price that PepsiCo charges for the new product and the marketing around this product will have a major impact on the to the revenue and profits. In addition, pricing is strategically important in positioning the new product in the ever changing market arena. When pricing a new product, PepsiCo must take into consideration the affect of the marketing of the product the selling location and any environmental factors. At the same time, PepsiCo must take into consideration how the price will affect the demand of the new product and the ultimate goal of how price will affect the bottom line of PepsiCo, the revenues and profits.
As part of the marketing mix, the pricing the new PepsiCo product is imperative. The price of the Slim Can will determine the effectiveness and quality of the product and will therefore be a direct impact on the product and it’sdevelopment throughout the implementation of the new product. Also, the price of Slim Can will directly play a vital role on whether the new product will increase the revenues of PepsiCo. As a final Consideration, PepsiCo’s will review and research the competition and the rigid market environment when launching and pricing the new product.
Therefore, if PepsiCo establishes a price much lower than the rest of its’ competitive market the price that PepsiCo set for the new product can set off a price war, but on the other hand PepsiCo can set a price for the new product that may be too high and the competition will win because the lower price will draw the customer away from the new product and buyfrom PepsiCo’s competitors to get a cheaper price. Finally, PepsiCo should be careful not to set different prices for certain customer targets.
This can be seen by some of PepsiCo customers’ as discriminatory and PepsiCo will lose its’ customer base for the new product and may also lose profits on existing products. Pricing is a chancy business. PepsiCo is in the business to increase the revenues and make a substantial profit on the new product, as long as PepsiCo’s creates a quality product for its’ customers. Finally, when the new product hits the market, it is only worth what the customers’ say it is worth or how much the customers are willing to pay for the new product (Scott Allen, 2009).
The Pepsi Company seems to have everything in order. However, they are in the decline stage of their existence and the only problem that they face is coming up with innovative creation to their product and having to constantly reinvent them. Also, when producing and supplying a standardized product, no matter how financially efficient, they are bound to hit a wall in the long run. People easily loose interest in things and when you have a product on your hands that has no room for improvement or variation, the length of the run of a company is bound to be short.
As one of the biggest factors as PepsiCo in the long-term success of a consumer products company is whether more people fall in love with PepsiCo’s products each year. PepsiCo strives to give people what they want, when and where they want it. To PepsiCo, doing that very well is more important than anything else. In some cases new learning will prompt the company to make changes. In other cases, where the science is unclear or conflicting, PepsiCo may choose to make no change.
In all cases PepsiCo will communicate its decisions internally and externally in an honest and transparent way. The life cycle is in reference to the product and how it is created from beginning to end. “The conditions a product is sold under will change over time. The Product Life Cycle refers to the succession of stages a product goes through” (Wikipedia). This includes but is not limited to “acquisition, installation, operation, maintenance, refurbishment, disposal fees” (South).
There will be cost from planning and research, obtaining the materials, processing the materials into a product, keeping the equipment and machinery up-to-date and in good repair, to disposing of the waste and selling off the product to distribute or Market Mix and the product life cycle. John Bradley Jackson stated that the positioning strategy is what the customer believes about one product’s value, features, and benefits. Customers most likely do a comparison of on product or services to the other available alternatives offered by the competition.
These beliefs tend to based on customer experiences and evidence, rather than awareness created by advertising or promotion. However, PepsiCo will position Pepsi Slim Can by focusing in the following positioning strategies including pricing, promotion, channels of distribution, and advertising. (Jackson, 2009) Generally, there are six basic strategies for product positioning: The attribute or benefit of the product, which is the most frequently used positioning strategy for instance, for a diet soda, it might be that it tastes good or that it contains zero calories.
The use or application of the product is based on how the product will be used therefore, for Pepsi Slim Can the use will be based on satisfying the customer thirst with a good taste and zero calories. The user of the Pepsi Slim Can is exclusively designed for those individuals that prefer zero calories beverages with the same or similar taste of a regular can of Pepsi. The by product or service class, PepsiCo will competes with Coca-Cola however, PepsiCo will positioned Pepsi Slim Can as a lower cost and healthier alternative than it competitor.
The competitor of Pepsi is Coca-Cola and Coca-Cola may create a similar product as Pepsi Slim Can. However, PepsiCo will have the advantage of being the first company to introduce this type of product; PepsiCo simply will be recognized as the first company to introduce innovation to market. The last step of positioning strategies is the price or quality of the product, for instance PepsiCo and Coca-Cola both sell sodas however, PepsiCo will make their customers believe that their sodas are made with the highest quality. Jackson, 2009) As per John Mehrmann stated, the differentiation strategy is an integrated set of action designed to produce or deliver goods or services that customers perceive as being different in ways that are important to them. This strategy requires one to sell non-standardized products to customers with unique needs therefore, PepsiCo will target customers that are interesting on zero calories beverages and in addition, PepsiCo will create a differentiation plan for Pepsi Slim Can. The differentiation plan will be based for instance on the size, taste, color, design, combinations or accessories.
In addition, PepsiCo will elaborate on the differentiation for services include delivery, quality, availability, and the price in order to reach potential customers. PepsiCo goal is to meet the levels from the perspective of your future customers and continuing meeting the needs and wants of their existence customers. (Mehrmann, 2007) One of the most important elements of the marketing mix is price. This core element may be a difficult element to managing in marketing the new Slim Can product by PepsiCo .
The price that PepsiCo charges for the new product and the marketing around this product will have a major impact on the to the revenue and profits. In addition, pricing is strategically important in positioning the new product in the ever changing market arena. When pricing a new product, PepsiCo must take into consideration the affect of the marketing of the product the selling location and any environmental factors. At the same time, PepsiCo must take into consideration how the price will affect the demand of the new product and the ultimate goal of how price will affect the bottom line of PepsiCo, the revenues and profits.
As part of the marketing mix, the pricing the new PepsiCo product is imperative. The price of the Slim Can will determine the effectiveness and quality of the product and will therefore be a direct impact on the product and it’sdevelopment throughout the implementation of the new product. Also, the price of Slim Can will directly play a vital role on whether the new product will increase the revenues of PepsiCo. As a final consideration, PepsiCo’s will review and research the competition and the rigid market environment when launching and pricing the new product.
Therefore, if PepsiCo establishes a price much lower than the rest of its’ competitive market the price that PepsiCo set for the new product can set off a price war, but on the other hand PepsiCo can set a price for the new product that may be too high and the competition will win because the lower price will draw the customer away from the new product and buyfrom PepsiCo’s competitors to get a cheaper price. Finally, PepsiCo should be careful not to set different prices for certain customer targets.
This can be seen by some of PepsiCo customers’ as discriminatory and PepsiCo will lose its’ customer base for the new product and may also lose profits on existing products. Pricing is a chancy business. PepsiCo is in the business to increase the revenues and make a substantial profit on the new product, as long as PepsiCo’s creates a quality product for its’ customers. Finally, when the new product hits the market, it is only worth what the customers’ say it is worth or how much the customers are willing to pay for the new product (Scott Allen, 2009).
The Pepsi Company seems to have everything in order. However, they are in the decline stage of their existence and the only problem that they face is coming up with innovative creation to their product and having to constantly reinvent them. Also, when producing and supplying a standardized product, no matter how financially efficient, they are bound to hit a wall in the long run. People easily loose interest in things and when you have a product on your hands that has no room for improvement or variation, the length of the run of a company is bound to be short.
As one of the biggest factors as PepsiCo in the long-term success of a consumer products company is whether more people fall in love with PepsiCo’s products each year. PepsiCo strives to give people what they want, when and where they want it. To PepsiCo, doing that very well is more important than anything else. In some cases new learning will prompt the company to make changes. In other cases, where the science is unclear or conflicting, PepsiCo may choose to make no change.
In all cases PepsiCo will communicate its decisions internally and externally in an honest and transparent way. Team A selected PepsiCo, Inc: in order to complete an overview of the selected organization, a description of the new product that will be introduce to the market, an explanation of the importance of marketing. In addition, the paper included a SWOTT (Strengths, Weaknesses, Opportunities, Threats and Tends) analysis and defined the marketing research approach used to develop the marketing strategy and tactics for the new product.
PepsiCo, Inc; is an international conglomerate soft drink company. PepsiCo is a global giant company that mainly manufactures and sells carbonated and non-carbonated beverages. In addition to the soft drink beverages, the company sells Aquifina water, Gatorade, Tropicana orange juice and a range of convenient food snacks including, Doritos, Frito-Lays and Ruffles potato chips. PepsiCo also manufactures and sells cereals, pasta and rice dishes. PepsiCo operates in approximately 200 countries including North America, Mexico and the United Kingdom (Hoover’s 2009).
PepsiCo, Inc; is currently structured into three industries units, including the beverages, Frito- Lay and Quaker Foods. The food, beverages and convenient snacks are manufactured in North America, Latin America and Mexico and are referred as PepsiCo America, North America and Latin America. PepsiCo, Inc; International includes all PepsiCo businesses in the United Kingdom, Europe, Asia, Middle East and Africa. The Company’s three business units were organized in six segments: FLNA, QFNA, LAF, PAB, United Kingdom and Europe; Middle East, Africa and Asia. Reuters, 2009) One of the key successes that continue to empowered PepsiCo is the variety of beverages, food and convenient snacks. PepsiCo continue manufacturing and selling new product in order to meet their customers’ needs and wants. The new product ready to be introduced to the market will be known as “the new Diet Pepsi Slim Can, an on-the-go beverage option for consumers who value fitness and yet want to enjoy the thrill of cola. The launch of the Slim Can further enhances the brand’s youthful imagery and offers its consumers a sleek and compact beverage option.
PepsiCo’s Executive Vice-President Sandeep Singh Arora said that the letters of “CAN” represents the following: C stands for current earnings, Astands for annual earnings; N stands for new product, services and management. The letters of “SLIM” represents the following: S stands for supply and demand of the company’s stocks, L stands for leader or laggard in the company’s given industry, I stands for institutional sponsorship and M stands for Market’s direction as a whole. When introducing a new product or improving an existence product, marketing is critical in order to be successful.
For instance, before PepsiCo decides to introduce the new slims can, a detailed research was conducted in order to identity customer’s needs and wants. Researching and analyzing what customers will expect is one the most important aspects of marketing. PepsiCo is ready to introduce to the market a new image and beverage named “Diet Pepsi Slim-Can” based on the research conducted, PepsiCo identified that there was a need to met, for those customers who strive to be physically healthy and still want to enjoy the taste of a soft drink beverage.
Another important aspect of marketing is the time and the enthusiasm in which the new product is introduced to the market. The process of introducing a new product may required to be analyzed by conducting a SWOTT (Strengths, Weaknesses, Opportunity, Threat and Trends analysis. Diet Pepsi Slim Can’s strengths analysis applies as follow: Diet Pepsi is one of the leading soft drink manufactures; Diet Pepsi has a variety of flavors to satisfy their customers.
Another strength that PepsiCo possess, is that we carry various sixes that are suitable for all occasion; in addition new sweeteners also have broadened the appeal of Diet Pepsi therefore, Diet Pepsi now offers soft drinks with a bend of sugar and no calorie sweetener, claiming the taste is similar to regular Pepsi but with half the calories One of the weakness that Diet Pepsi has is lack of creativity, at this point PepsiCo is not a leader on the soft drink industry and tend to respond creatively only when our competitor launch a new product.
Diet Pepsi has the resources to manufacture new products however; the strategic implications are not able to maintain their expected sales forecast. Diet Pepsi has an exceptional reputation within the soft drink industry and is very likely to maintain its status in the future. Our team believe that PepsiCo will continue to satisfy their customers and even capitalize new customers for a new generation, concentration on those individuals who are calories conscious; our team also expects PepsiCo’s diet soft drinks sales to surge and some industry analysts say low calories eventually could take the lead.
Innovation has also been one of the factors that help soft drinks to increase it sales. Soda companies are mixing out a starting variety of new diet flavors. PepsiCo, Inc; alone offers nearly a dozen low calorie sodas, which account for more than a quarter of the company’s products. Every product or services has a risk of threat however Diet Pepsi Slim Can’s main threat is its competitors, who are offering the same type of diet soft drinks on the market. Similarity most of the competitors manufacture their own diet soft drinks.
In addition, most of these competitors claim to make their soft drinks with the same ingredients as diet Pepsi or better ingredients. It is challenging to make a product to stand alone by having many competitors advertising the same product with similar prices. The marketing research approach that will be used for selling the new diet slim can will be as follows: the first step will be to define what we are marketing and to select all of the organization objectives and focus on all marketing actions.
The second step would be to develop a research plan which will specify certain restraints for the product, identifying all the data that would be needed and determine how the data would be collected. The third step will be to collect all relevant data about the new Pepsi slim can, secondary and primary data will be needed. The fourth step will be to analyze the finding of all your data. The fifth step would be to take all the necessary actions to market by implementingevaluations and evaluating the results.
For example of defining what we will be marketing will be the Pepsi slim can. Our objective and goal will be gain the attention of customer to want to buy a slim can of sodaversus a larger can of soda. For instance, the first step researches would distribute free cans of Pepsi in a slim can and distribute free cans of soda in the original can. The researchers will observe which can of diet Pepsi customers selected. Once customers have made their selections, researchers would conduct a survey to identify the reasons of their customer selection.
The data collected will be detailed evaluated and the researchers will be able to determine if the slim can was more appealing to customers. The survey will be able to identify the customers preferences and based on the customers feedback we be able to determine if the new imaging of diet Pepsi slim can will increased the sales, marketing is a process in which research takes priority. One needs to understand that prior to introduce or improve an existing product one must research and identify the customers’ wants and needs and be able to target both current and future customers’ needs.
PepsiCo, is an international well recognized company that have managed very well how to introduce new product and make improvement on current products to a worldwide market. Based from the SWOTT (Strengths, Weaknesses, Opportunity, Trends and Threats) analysis, we believe that the improvement of an existence product will increase sales, as we understand that Customers seek for new images with healthier looks and with the same unique taste. Since 2006 under the new management of Indra Krishnamurthy Nooyi, chief executive, PepsiCo has focused on maintaining and roviding a new imaging promoting healthier foods, snacks and beverages by promoting zero calories products. PepsiCo has been meeting its customers’ needs. Reference Chase, Richard B Production and operations management: a life cycle approach. Ontario, Canada: Homewood, Ill. 1981. Jackson, John B. (2009). Product Positioning Strategies. Retrieved June 7, 2009, from http://www. ezinearticles. com Business Link. (2007). Create your marketing strategy. Retrieved October 20, 2007, from http://www. businesslink. gov. uk/bdotg/action/layer? topicIdThe Coca-Cola Company (2007).
Retrieved October 19, 2007 from http://www. thecoca-colacompany. com(1991, Glow, Glenn) Gaining Competitive Advantage; How companies win against market leaders. Retrieved from the Worldwide Web on May 31, 2009 from; http://www. crimson-consulting. com/stageone/files/crimson/competitive_advantage. cfm on May 31, 2009 from, http://www. hoovers. com/pepsi-bottling-ventures (2009). Thomson Reuters PepsiCo Inc: PepsiCo Company Report. Retrieved May 22, 2009, from http://moneycentral. msn. com (2009). Hoover’s Inc. , PepsiCo, Inc. Retrieved May 22, 2009, from http://www. hoovers. com