ABC/123 Version X
|Marketing Lemonade Worksheet
MKT/421 Version 17
Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally, and can be a privately-owned company or a franchised organization. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define the product that you will be selling (that is some marketable form of this drink) and decide on a target market.
Your marketing team’s mission is to prove the company’s goals will be met by providing research, strategy development, and reasoning why this form of this product is viable In this first half of the project, you will report on the following:
· Target market
· Product’s definition to the target marke
· Viable pricing strategy
· Brand’s position in the competitive environment
Complete the following
1. Select a company name and determine the real business world industry of operation.
|Company Name||Industry of Operation|
2. Describe in no more than 90 words the new and unique form of lemonade that will be launced by your company.
|Who are they||Industry of Operation||Mission and Values||Differentiation from other organizations|
4. Identify the following in no more than 90 words regarding your target market.
|Composition of target market|
|Segmentation criteria used in idenfitication|
5. Determine in no more than 90 words how you will define the lemonade to your target market (include information on packaging, labeling, etc.). How will this add value and differentiate the brand and product from the competition while encouraging the target market to buy?
|Target Market Definition||Differentiation|
6. Complete the chart in a total of no more than 90 words to compare your company with industry competitors.
|Top Business Industry Competitors||Your Company’s Positioning|
7. Define the pricing strategy in no more than 90 words that you will use for the introduction of the product.
8. Discuss in no more than 90 words the maturity life cycle stages of your product.
|Stage of Maturity Life Cycle||Discussion|
9. Describe in 90 words how you will use suppliers, agents, or distributors to create your distribution channel.
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