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Marketing Mix Strategy of Nexba Beverage

   

Added on  2021-05-31

16 Pages3752 Words61 Views
Running head: ASSESSMENT 2: MARKETING MIXAssessment 2: Marketing MixStudent’s name: Name of the university: Author’s note:

1ASSESSMENT 2: MARKETING MIXTable of Contents1. Introduction..................................................................................................................................3Situation analysis.........................................................................................................................32. Discussion of potential market segment......................................................................................43. Discussion of target market with justification.............................................................................64. Clear positioning statement.........................................................................................................65. Objectives of marketing plan.......................................................................................................76. Marketing mix strategy................................................................................................................87. Budget allocation for promotional mix......................................................................................118. Conclusion.................................................................................................................................11Reference List................................................................................................................................13

2ASSESSMENT 2: MARKETING MIXExecutive Summary The entire study deals with the marketing plan and the study shed light on Nexba Beverage asthe concerned organisation. The company is preparing to improve brand awareness and thereby,the study provides a significant understanding of the marketing strategy so that, it becomespossible for the aforementioned organisational entity to reach a wider section of market andcustomer segment. The company offers a competitively unique product which is a combinationof advanced features and functionality at the value-added price.For this purpose, the study has developed significant target market based on the marketsegmentation and positioning strategy. The primary objective of the company is to improve salesand brand awareness and thereby, the study focuses on the development of significant marketingand financial objective of the company to develop an effective marketing strategy for thecompany. Hence, the researcher develops a significant marketing strategy for the aforementionedorganisation through the effective use of marketing mix tool. Nexba will target the middle-income group with varied aged customers.As the marketing objective of the company is to develop brand awareness among thecustomers thereby, the usage of digital platforms would be useful for the company as theeffective promotional platform for Nexba. Hence, for this purpose, the study has developedsignificant budget including the cost for digital communication platform so that, the companywill be able to establish in the crowded and fast-changing marketplace effectively and efficiently.

3ASSESSMENT 2: MARKETING MIX1. Introduction Every organisational entity aims to heighten business growth in terms of financialprofitability and thereby, organisations always aim to gain new market segment for improvingcustomer base. In this regard, the aim of this assignment is to focus on the development ofmarketing plan for improving business profitability and for this purpose, the study focuses onNexba Beverage as the concerned organisation. In this regard, the chosen product is the Nexba’srange of flavoured ice tea products that contain only 4.9g sugar in comparison to any other softdrink products of different companies. Nexba mainly sells beverages and this organisation wasfounded in the year 2010. In 2016, Nexba made a partnership with Coles and took a step toreinvent soft drinks. 2017, Nexba won the consumer-voted award of the product-innovation(Nexba.com, 2018). Situation analysis Situation analysis an essential element and initial part of developing a marketing plan foran organisation. For the concerned company Nexba Beverage, the main competitors includeCoca-Cola and Pepsi. At the present time, these companies are trying to reduce sugar from theirsoft drink products and thereby providing tough competition to Nexba at the present time.However, according to Kraak et al., (2017), Nexba beverage has been stealing consumers fromthe market leaders Nestea and Lipton with the help of a range of flavoured iced tea products.Hence, in terms of economies of scale, it can be stated that there is a drastic increment in thecapital rise to around 2.4 million for the year 2015-2016 and this will reach to around 8 millionby the year 2016-2017. This is beneficial for the concerned organisation as more and more

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