MARKETING PLANNING WORKSHEET FOR: _____________________ Group Member Names
Added on 2021-04-21
4 Pages910 Words353 Views
|
|
|
1MARKETING PLANNING WORKSHEET FOR: ___________________________Group Member NamesFACTOR/ISSUEMARKETING PLANProduct AnalysisWhat are the product features and benefits? One main feature of the product is that it is a high quality bubble tea.Secondly the tea can be blended with a variety of toppings and othercreative mixes.The main benefits of the product are that the company’s tea and tapiocapearls ensure that the drinks are served fresh to the customer (GongCha). In addition, the quality of the tea will be very enjoyable to clients.Point of difference – How does the _____ differentiate itself from the competition?Our product is different from those offered by our competitors becausewe offer our patrons freshly brewed premium quality tea (Gong Cha).As a result, it is of superior taste as compared to those offered by ourcompetitors.Consumer Analysis/Target Market AnalysisIdentify the target market(s) – Justify your selectionAsian people living in Washington state. Mainly, this is due to the factthat the product is an indigenous Asian-style drink. What attributes/benefits matter to your target audience?Discuss target market needs that are met vs unmet currently.The Asian people appreciate a high quality–freshly brewed tea such asthe Gong Cha. At the moment, these needs are unmet. Although some beverage shops offer tea, it lacks the indigenous tastethat our product seeks to offer. Environmental Factors [Discuss only factors that impact your Marketing Plan]Consumer/Social factorsThe Asian people appreciate a Gong Cha because it represents thehighest quality and self-expectation. For this reason, they will love theproduct, thereby raising our sales. Economic factorsAccording to estimates, the purchasing power of our target market ishigh and can therefore afford to purchase our products. Besides, ourprices are pocket friendly. Technological factorsCurrently, our clientele have access to technology through social andmass media. For this reason, it is easier to reach out to them and1
2FACTOR/ISSUEMARKETING PLANadvertise our product. In turn, this will allow the company to increaseawareness about its products and increase its customer base. Competitive factorsAt the moment, the level of competition is very low in Washington area.As such, the company does not face a stiff competition. For this reason, it will be easy to obtain a large market share in this nicheLegal/regulatory factorsThe legal environment in the area is favorable, and there are no legal barriers to setting up a tea shop. Develop the Marketing Plan [Give specific details about your plans to market ___________]Marketing & Communication ObjectivesMarketing Research (identify market research techniques to collect information from your targetsegment; identify the type ofinformation that can be collected from each technique)Actual Data (Provide data from primary and/or secondary sources on target market) You can also include web data/customer reviews etc. Or you can eveninterview customers. This need not be extensive, for example you can provideone or two customer comments from an online discussion forum or social media that represent the views of your target marketHow will you “position” the _____________?Pricing2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Business Plan for Hi Tealg...
|24
|3361
|190
Business Plan and Funding Requirements - Deskliblg...
|28
|4909
|415
Launching New Product - Scorched Rice Nurungjilg...
|8
|898
|99