You are the marketing manager responsible for launching an innovative new product called V Fusion + Energy. See this link for more information.
You have a challenge to overcome in the marketplace. Nearly 2 in 3 people wish they had more energy, but 40% of consumers do not believe energy drinks are healthy for them. Your Vice President of Beverage Marketing believes this is an opportunity in the marketplace.
Your Vice President of Beverage Marketing has asked you to prepare a marketing plan to launch this new brand in the U.S. market. She has asked you to conduct research on the following:
Analyze the marketing environment, including the macroenvironmental factors. Outline what environmental factors you should be aware of and how you will adjust accordingly.
Perform a competitive analysis. Who are the firm’s competitors and what is their positioning strategy for similar products? What are their marketing tactics?
Using the segmentation, targeting, and positioning process outlined in your textbook select your target market. Also, develop your positioning strategy.
Using the market research process outlined in your textbook, develop a research study to help you determine the pricing strategy for the product. What research method would you use and why?
Submit your answers in a 6- to 9-page Microsoft Word document.