Marketing MIX for the Food and Business Industry in California Market - Paper Example

The food and business industry is a ready market that can drive growth and revenue in the California market. As a food and beverage, company that imports fresh and healthy foods and beverages, the company will exploit the fast growing market in California. People of all ages relate to fresh and healthy food and beverages, but the target audiences are majorly teens and young adults. The company will use an advertising and marketing campaign that reflects its target audience interests and nostalgia. Print and media advertisement will be used as a traditional channel in transmitting their message to the customer segment targeted in California. The advertisement and marketing strategy will include creative promos with different elements of music to boost its revenues.

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The company looks to spend approximately 10 million dollars in ad focusing on a print advertisement, broadcast advertisement, and outdoor advertisement. Standard sales promotions like the point of sales materials, money off coupons, competitions, and loyalty rewards will be essential in attracting customers (Scarborough & Cornwall, 2015). By targeting the new generation using effective techniques, the company will establish a loyal group of consumers. If the customers are satisfied, they will surely visit again. The feedback of customers will be positive to imply they are satisfied.

Marketing MixThe marketing mix is a major concept in marketing that involves marketing tools that a firm uses in pursuing its marketing objectives. The marketing mix or the 4Ps will include a combination of tactics and strategies that will be instrumental in implementing the business plan. Based on the companys brand and products, various tactics and strategies will be employed. Thus, many characteristics will define the companys approach in implementing its marketing plan. The marketing mix will address the companys brand and products.

Product Mix

The product is anything either intangible or tangible offered by the firm (Hanssens, Pauwels, Srinivasan, Vanhuele & Yildirim, 2014). This element will identify the companys outputs and products that are available to consumers. The product lines of the company will include different types of drinks like fresh juice, soft drinks and beverages, and food. These products will start with an introduction into the California market until it reaches a maturity phase. Product development strategies will be considered to prevent brand dilution that may lead to perceived quality and decreased sales.

Placement Mix

The company will use local networks in the distribution of products in California market. Online Merchandisers and retailer will be instrumental in distribution, for example in a convenience store, grocery stores, and supermarkets. Thus, both intensive and selective distribution strategies will be used in the distribution of the companys products.

Promotion Mix

The promotion will be used to present the product to business customers and targeted consumers, increase market demand, and create brand identity. This covers the marketing strategies that will be used to reach and attract target customers. Advertisement, direct marketing, personal selling, sales promotion, and public relation will be used to achieve the companys objectives. This will increase the sales, create brand equity, and create corporate image and positioning (Pavlou & Stewart, 2015; Rahmani, Emamisaleh & Yadegari, 2015)

Price

The company will have a broad product mix with many product lines and brands; prices will be varied. The company will use value-pricing strategy and market-oriented pricing strategy to ensure the prices are competitive based on prevailing market conditions and firms prices (Rahmani, Emamisaleh & Yadegari, 2015). These pricing strategies will be essential in closing the gap between discounted holiday prices and everyday/regular prices.

References

Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., & Yildirim, G. (2014). Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), 534-550.

Pavlou, P. A., & Stewart, D. W. (2015). Interactive Advertising: A New Conceptual Framework Towards Integrating Elements of the Marketing Mix. In New Meanings for Marketing in a New Millennium (pp. 218-222). Springer International Publishing.

Rahmani, K., Emamisaleh, K., & Yadegari, R. (2015). Quality Function Deployment and New Product Development with a focus on Marketing Mix 4P model. Asian Journal of Research in Marketing, 4(2), 98-108.

Scarborough, N.M., & Cornwall, J.R. (2015). Essentials of Entrepreneurship and Small Business Management (8th ed.). Boston, MA: Pearson. ISBN: 978-0133930382