Marketing Strategies and Planning Process

The assignment delves into the importance of marketing in an organization, with sales and profits depending on consumer preferences and behavior. It analyzes the 4 P's - Product, Price, Place, and Promotion - and discusses different marketing strategies based on these components. The planning process involves setting aims and objectives for establishing a new product or developing an existing one in the market.

FUNDAMENTALS OF
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
Target market .............................................................................................................................3
Product/Brand.............................................................................................................................4
Price.............................................................................................................................................4
Place(Distribution)......................................................................................................................4
Promotion....................................................................................................................................5
Marketing Planning Process........................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is defined as various activities that a company operated in order to promote
selling or buying of a service or product (Flora, J. A., Schooler, C. and Pierson, R. M .,
2018Charter, M., 2017). The different activities of marketing are selling, advertising and
delivering of services and products to customers or business. The working of marketing of
products includes 4 P's of marketing- Product, Price, Place and promotion. In this following
report, there is a comparison of two companies Redbull and Lucozade Energy are considered for
analysing the marketing mix. Redbull is an energy drink that is sold by Red Bull GmbH. This is
an Austrian company founded in 1987. Lucozade is a soft drink which is manufactured by
Suntory, a Japanese company This will include effectiveness of marketing mix of these brands.
This report also explains marketing planning process.
Target market
Target market is a a group of potential customers that buys the products and services of
the company. Consumers of target market shares similar characteristics like demographics,
buying geography, incomes and demographics (DeGaris, L., 2015). The identification of target
market is essential for development of marketing plan of a company. There are different sources
by which brands market their products and services to target customers like Mintel company,
website of firm (Goworek, H., McGoldrick, P. J. and McGoldrick, P. J., 2015). Target customers
are categorised on the basis of gender, age, income, lifestyle, level of education, social class
customer preferences, hobbies, etc.
Redbull drinks are sold to buyers on analysing various characteristics of them. It is sold
in both urban and rural areas. The drink is made for the age group of males and females of 16- 40
years. It is purchased by Bachelor people, young people, newly married couples, and adults. It is
suitable for people who have high level of income and people who fall under middle class or
upper class. On the other hand, Lucozade is an original energy drink and category driver.
Lucozade drink is made for people of age group of 16 to 50 years of age and for high income
people. Redbull is competitor of Lucozade drink as both these drinks are concentrated energy
drinks.

Product/Brand
Product is sold to buyers for increasing effectiveness of the brand. Redbull is a caffeine
sweet drink which gives energy to customers. This product is available in cans and bottles of
different quantity (Kotler, P. and Armstrong, G., 2015). This drink is sold in two flavours-
original and sugar free and it contains taurine, caffeine and B vitamins. Redbull is a leading
energy drink consumed by youngsters.
Lucozade is a carbonated glucose drink. It is a energy drink available in four varieties –
Lucozade, Lucozade energy, Lucozade sport and Lucozade Alert. These drinks are easily
digested and Lucozade always keeps on developing it's product to satisfy customers. Lucozade
energy is the energy boosting drink launched in 1929. It is available in different flavours like
Lemon, original, orange, tropical, cherry and apple.
Price
Pricing the product is necessary for a company. Products are offered at reasonable price
to customers so that they will buy products and services (Kotler, P. and Armstrong, G. M.,
2018Morden, T., 2016). Price determination impact supply, demand, profit margins and
marketing strategy. Similar products of different brands are positioned in market on the basis of
varying price points. In case of Redbull, it has a number of competitors of energy drink industry.
Redbull is market leader of energy drink sector so they charge premium for products. It is most
expensive energy drink. On the other hand, Lucozade is a historical company. It knows hoe to
reduce cost of producing. The cost of Lucozade drink is cheaper than Red bull. This pricing
strategy helps company in attracting thiose customers who are willing to buy carbonated drinks
of lower rates.
Place(Distribution)
Place is a dynamic area of marketing. This is concerned with movement of goods from
manufacturers to reach customers (Parment, A., Kotler, P.Palmatier, R. W. and Sridhar, S.,
2017). A good marketing is putting right product at right place in right time. Company should
search for ideal locations to reach potential clients and actual customers. Redbull has a wide
network of distribution worldwide. Redbull energy drink is easily available at locations like
convenience stores, supermarkets, casinos, bars, night clubs and retail outlet. This becomes easy
for customer to buy this drink at anytime they want. Redbull has made a strategy to attract
customers. Redbull drinks are stored in Redbull exclusive refrigerators that attract customers to

buy this energy drink while going to a grocery shop or bar. Redbull drinks are purchased by
customers in bulk packs. Redbull is kept with it's competitive drinks at supermarkets and stores
for making customers make their choice while buying drinks. Lucozade drinks are sold in
different countries in stores, gyms, sports centre, desert stores or supermarkets.
Promotion
Promotional strategies are important for a brand to increase it's sales and profits (Philip,
K., Gary, A., John, S. and Veronice, W., 2016). The tagline of Redbull is “Redbull gives you
wings”. This drink targets sports people and Redbull sponsor various sports events like
motocross, Redbull BC One, Redbull Batlle grounds, skating etc. Redbull has a house of art
where artists are encouraged to shoe their art work in exhibitions. The promotional activities
help in recalling of brand to customers. The marketing and advertising of Lucozade is very good.
It uses sponsorship for promoting it's products (.Saunders, S. G., Barrington, D. J. and Sridharan,
S., 2015). Lucozade drinks are advertised on Televisions and increasing the target customers.
These advertisements focuses on various members like children, mothers and sports people.
Energy drinks of Lucozade attracts youngsters and teenagers to get refreshed by consuming
carbonated drinks. Advertisements of this drink includes various famous sports players and
celebrities. Lucozade has collaborated with Ipod and it has made a software that helps to keep
track on fitness and health. Lucozade promoted it's brand by an offer of Iphone winning contest.
Comparative analysis of competition position of Redbull and Lucozade
There is an increase in competition among various industries and businesses. The market
of energy drinks does not get affected by recessions and it performs efficiently (Stallings, W.,
2017). According to an analysis, it is observed that market of energy drink will grow by 48%. In
the year 2003, Lucozade had the biggest market share and Redbull and other competitors were
left behind. In UK, it has the largest market share. The main competitor of Lucozade is Red Bull
as both of them are targetting youngsters and they have good advertising strategy.
Marketing Planning Process
The marketing planning process helps to determine the position of company in future.
This plan explains how to target customers and its segmentation (DeGaris, L., 2015). This
includes marketing strategies used in accomplishing goals and objectives to increase sales and
profits. A proper documentation of strategies is an integral part of planning process. There are
different steps in marketing planning process like development of action plan, analysing current

position, developing marketing strategy , employing and evaluating the planning process. These
steps are followed by Redbull and Lucozade for becoming competitive in market.
1. Develop the action plan- This step includes three major aims that include making vision
and setting goals for marketing the product . This step includes success of product and
ultimately accomplishing the company's objective. Goals and objectives are made by
Redbull and Lucozade on the basis of company's vision for the products.
2. Analysing the present scenario- In this step, the overview and examination of present
condition of market is analysed. It is a strategic long term plan to evaluate the current
position and resources of the company. Redbull and Luozade layout resources, evaluate
these resources and external and internal factors are analysed (Charter, M., 2017). The
environmental favours and risks in launching of new products are estimated. These
companies audit the market and target it for penetrating the product in market . SWOT
analysis of the organisation is done to know opportunities and threat in product launching
and development. There are several external components that influence internal
components of business and these are political, legal, and competition of market.
3. Developing marketing strategy- This step helps in making effective strategies that help in
identifying tactics to reach the target market. This planning guides in opting market
segment approach. Various marketing efforts are made for knowing about positioning of
market and these are marketing mix, Porter's five forces model of competitive advantage,
and Ansoff's matrix.
4. Employing, Executing and Evaluating the planning process- This step can be divided in
three main aims i.e. making budget, allocation of resources and implementation of
resources and monitoring and overviewing it. This is the implementation part of different
strategies made for launching of products . This includes activities of operations and
allocation of resources is done for implementing the estimated budget for making actions
and strategies to accomplish plans. Redbull and Lucatoze overview marketing plan
regularly as this plan is based upon opinion and feedback of customers. A regular review
of promotional plan is made.

CONCLUSION
It is concluded from the above report that marketing is a major function that is operated
in an organisation. Sales and profits depends upon consumer preferences and behaviour.
Marketing of products require analysis of four main components, 4 P's – Product, Price, Place
and Product. Different marketing strategies are made on the basis of these components. A
marketing planning process includes aims and objectives for establishing a new product or
developing an existing product in market.

REFERENCES
Books & Journals
Charter, M., 2017. Greener marketing: A responsible approach to business. Routledge.
DeGaris, L., 2015. Sports marketing: A practical approach. Routledge.
Flora, J. A., Schooler, C. and Pierson, R. M ., 2018. Effective health promotion among
communities of color: The potential of social marketing. In Social Marketing (pp. 353-
373). Psychology Press.
Goworek, H., McGoldrick, P. J. and McGoldrick, P. J., 2015. Retail marketing management:
Principles and practice. Harlow, UK: Pearson.
Kotler, P. and Armstrong, G., 2015. Principles of Marketing-Global Edition. Pearson.
Kotler, P. and Armstrong, G. M., 2018. Marketing Mix: Selected Chapters From: Principles of
Marketing, Philip Kotler and Gary Armstrong. Pearson.
Morden, T., 2016. Principles of strategic management. Routledge.
Newman, T., Peck, J. and Wilhide, B., 2017. Social media in sport marketing. Routledge.
Palmatier, R. W. and Sridhar, S., 2017. Marketing strategy: Based on first principles and data
analytics. Macmillan International Higher Education.
Parment, A., Kotler, P. and Armstrong, G., 2016. Principles of Marketing Scandinavian Edition:
Scandinavian Edition. Pearson Higher Ed.
Philip, K., Gary, A., John, S. and Veronice, W., 2016. Principles of Marketing-European
Edition.
Saunders, S. G., Barrington, D. J. and Sridharan, S., 2015. Redefining social marketing: beyond
behavioural change. Journal of Social Marketing, 5(2), pp.160-168.
Stallings, W., 2017. Cryptography and network security: principles and practice (pp. 92-95).
Upper Saddle River: Pearson.