Question

For the first six (6) months your Grapefruit Juice Company is in business----to give you time to perfect your product and to learn from actual customer---you will start marketing and selling in your own community, a radius of twenty-five (25) miles from where you live Write the two or three (2-3) page Marketing Plan & Sales Strategy section of your business plan, in which you: .1) Define your Company’s target Market: A) Analyze the types of consumers who will be drinking your beverage in demographic terms (i.e., age, education level, income, gender, ethnic group, etc). Support your analysis with actual data on the size of the demographic groups in your local community (nearby zip codes). B) Outline the demographic information for your potential consumers in your area. For example: If you are selling through other business (such as grocery stores), indicate the number of those businesses in your local area at county Business Patterns. 2) A) Assess your Grapefruit Juice Company’s market competition, Hint: (Who are your major competitors?, On what basis do you compete?, How do you compare to the competition?, Who are your potential future competitor?, What are the barriers to entry for new competitors?, to assess your company’s market competition. B) Defend your strategy to successfully compete against market leaders in your segment. Hint: For example, in the soft drink market, it is intimidating to try to compete against Coke and Pepsi. Newcomers in mature markets typically must pursue niche markets or even create new market categories, as Red Bull did with energy drinks. C) Defend your plan to differentiate your Grapefruit Juice company from the competition by using the market share distribution. For example: Name of competitor 1: % of Total Revenue; % of unit Sold; Trend of Market Share (increasing or Decreasing) Use Three Competitors. Which competitor(s), if any have historically been the market leader(s)?, Which competitors have increased market share substantially in the last three years?, Is overall competition increasing, stable or decreasing? Briefly describe the most important characteristics of the market leader(s): Competitor 1, Competitor 2, and Competitor 3. 3) Clarify your Grapefruit Juice Company’s message to convey to customers by using the Five Fs about your product. Hint: Function: Finances: Freedom: Feelings: Future:. Which of these messages is the most important in motivating your target market to purchase? How would you express the message to your customers in the areas listed below? Business Name; Grapefruit Juice Company. Slogan: Key Words in Marketing Material: Product Design: Logo: Website Design: Blog Language and Design: Choice of Social Media Sites: Other Graphic Images/Design: Packing: Décor: Style of Clothing Worn by Employees: Merchandising/Displays/Presentation Materials:

Answer 1

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