Marketing Techniques for a New Healthy Soft Drink Product

PRINCIPLES OF
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
SECTION 1......................................................................................................................................3
1. MARKETING ENVIRONMENT AND PLANNING PROCESS..........................................3
2. PESTEL analysis:....................................................................................................................4
3. Importance of a strong marketing mix:....................................................................................5
SECTION 2......................................................................................................................................6
Role of B2C and B2B market segmentation for the new soft drink product...............................6
Discuss the targetting methods used for the B2C market ...........................................................6
Meaning of positioning in regard to minds of targeted market...................................................7
SECTION 3......................................................................................................................................8
Marketing mix .............................................................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
The report of “principles of marketing” will comprehensively illustrate the marketing
techniques for a new product, which is a healthy soft drink considering the environmental
friendly packaging approach in the mind. Report will also include a detailed segmentation,
targeting and positioning process, a marketing mix analysis and PESTEL analysis for the
marketing of new product (Biroscak and et.al., 2018).
MAIN BODY
SECTION 1
1. MARKETING ENVIRONMENT AND PLANNING PROCESS
Components of marketing planning process: when starting a new business, time and resources
are the two major tools which have scarcity, a marketing plan is needed to ensure there is no
waste of time and resources. Let's discuss the essential components of marketing plan.
Market research: Research is backbone of marketing plan. Analyses of current market and
industry trends is important to know the dynamics of the new product in the market. Researching
about the market for the soft drink, buying habits of consumers, market growth, market size etc.
is the prime step of market planning.
Target market: This step helps identify the most likely buyers of the product in the market. In
this case the target market is people having health conscious approach towards soft drinks and
consumers who reach better towards eco friendly tactics like no plastic used in making the
products (Crick, 2021).
Positioning: The kind of perception you want target market to have about the product or the
brand, is the positioning. Here try to develop compelling perception and a simple yet effective
marketing message to communicate the target market. The healthy and environmental friendly
has a lot to attract the customer.
Competitive analysis: Before product enters the market, it needs to be analysed that who are we
competing with, what is the strategy that competitors like Aspire drinks and Gunna have.
Knowing better about competitors will make standing out from competition easy.
Market strategy: Here, how to find the customers and attract them to buy the products will be
figured out. Strategy like connecting with the customers on the social media, digital platforms,
content markets, bloggers, bill boards etc. are developed keeping in mind the reach to every
potential customer of the healthy soft drink (Gheibi and et.al., 2018).

Budget: Deciding monthly spendings on marketing of healthy soft drinks is important. Deciding
the budget for the marketing process and keeping a track of return on investment of such
marketing is essential.
Metrics: Tracking the marketing success of healthy soft drink by setting a period of 30 or 60
days and checking the impacts of marketing efforts. This can put the product in right direction
and will let us know the efficiency of our marketing process.
Marketing orientation: It is a customer centric approach for the product designing. It involves a
thorough market research aimed at finding consumers immediate needs, personal preference,
primary concerns attached with the product. Here consumer's immediate need, preferences,
concerns attached with soft drinks is that it is not healthy and to grab this opportunity and market
share the new product 'healthy soft drink' is developed keeping the customer centric approach.
Such market orientation is going to be advantageous in terms of brand loyalty, as satisfied
customers will not switch to other products (Iyer and et.al., 2019). Retention of customer tends
to be higher in customer centric products. Large market share, as customer is the king and
satisfaction to customer leads to the word of mouth, giving good market share.
2. PESTEL analysis:
It is the analysis of the environment in which a business operates. 6 environmental factors
are as follows.
Political: The taxation levied on soft drink companies in UK is complex and two tiered. Two
tiered tax is levied on manufacturing of drinks. Rates are high depending on sugar quantity in the
drinks. Therefore, High taxation rates affects the pricing of the end product.
Economical: Economic factors such as covid-19 and inflation affects the products as inflation
drives the prices high due to increase in prices of supplies. Further, covid-19 affects the
production and distribution of the drinks (Lu 2020).
Social: Social factors are quite favourable for the product as changes in lifestyle and preferences
of the customers like choosing healthy products and having health conscious lifestyle makes road
for the healthy soft drink.
Technological: Technical automation can help the product manufacturing process and revolution
of social media technology makes easy to reach to the target market by various modes.
Technological advancement is also cost effective for the product.