Marketing Report: Gatorade's STP, Innovation, and Data Evaluation

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This report provides a comprehensive analysis of Gatorade's marketing strategies. It begins with an introduction to the company and its products, followed by an in-depth examination of segmentation, targeting, and positioning (STP) for Gatorade's product line, particularly focusing on the introduction of a smart watch. The report then delves into the rationale behind the innovation of this new product, explaining how it meets customer needs and aligns with the company's overall strategy. A specific target group within the UK market is identified, and viable solutions are proposed to address their needs. Furthermore, the report evaluates the crucial role of data in enhancing relationship marketing, improving customer expectations, and optimizing service delivery. The report concludes with a summary of the key findings and recommendations, supported by relevant references.
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Sales and Marketing
Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
This report must include an assessment of the concepts of segmentation, targeting and
positioning specific to a product or service............................................................................3
STP of particular product.......................................................................................................3
You are required to create a rationale for innovation in a new product and/or service design
for your chosen product/service in meeting the needs of customers in line with your chosen
organisation’s strategy............................................................................................................6
Choose a specific target group within the framework of your chosen business and create
viable solutions that would appropriately those specific target customers’ needs.................6
Your report should include a comprehensive evaluation of the role of data in improving
relationship marketing within your chosen business. You must also evaluate how the role of
data improves the target customer’s expectations and level of service provided...................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
Books and Journals...............................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Sales and marketing is the two way business function that prominently impact the
generation towards the sales and revenues. For this, marketing tends to undertake enhancement
for the awareness regarding the products and services for the effective intention for growing
business. In relation with this, sales depict the prominent activities in terms of selling suitable
goods and services. For this, the overall objectives of company are to grow for the business and
undertake prominent approach which differs from each other (Sleep, Lam and Hulland, 2018). It
depict the creative approach which is opted for the effective development of business which is
done in terms of enhancing the business for an organisation. In regard of this, sales professionals
directly contact for customers in terms of closing the deal. In relation with this, Marketing is the
effective part of sales and also opt effective products and services in terms of identifying that
needs and wants of customers undertaking the competitors as well. Marketing prominently
impact sales in several ways as the market of product also tends to impact the sales process.
To carry forward this report, Gatorade company is considered which is an American
manufacturer of the sports themed beverages and food products. Currently, company tends to
manufactured by the pepsico and also distributed across 80 countries. Besides this, the report
tends to cover the prominent assessment of the concept of company considering the concept of
segmentation, targeting and positioning for the particular product and service. Along with this, it
is also important to create rationale for the unique product in terms of meeting the needs of
customers. Particular market is targeted in order to create viable solution for the particular needs
of customers. Lastly, report tends to evaluate the prominent role of data to enhance relationship
of marketing for the chosen business to improve the expectations of target market (Johnson and
Matthes, 2018).
MAIN BODY
This report must include an assessment of the concepts of segmentation, targeting and
positioning specific to a product or service.
STP of particular product
The present report is based on the Gatorade which is an American company and deals in
sports products and drinks. Presently, the innovation which is done by Gatorade is Smart Watch
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which show that when it is required for individual to consume energy drink as per the
requirement of body and energy level.
Segmentation can be defined as a process of dividing the market of Organisation in small
segment so that organisation can achieve profitability. Segmentation is a process which is related
to dividing the market of organisation according to the needs and requirements. Segmenting is an
important process in organisation has it helped form in managing the market according to the
needs and requirements (Madhani, 2017). Gatorade is going to segment its market and different
categories so that it can easily implement its new smart watch within the market which include
different features of providing consumer energy drink as per the requirement of body and energy
level. There are various factors of segmentation which can be used by Organisation in order to
divide the market and achieve the objectives of market in an appropriate manner. In context of
this, organisation is using appropriate system where it will divide the market according to the
requirements. There are different kinds of segmentation which are used by Organisation in order
to implement its smart watch within the market. All of these are discussed below:
Demographic segmentation: It is one of most commonly used and popular method
which is used by the organisation in order to segment its market according to the needs
and requirement. Under this kind of segmentation organisation used to divide the market
according to age gender income location family situation annual income education and
various other factors which are helpful in targeting the customer segment between
business to customer audience. In relation to the chosen organisation, it is going to target
the customer between the age group of of 12 to 80. Organisation also going to target
customer according to the income basis where it will target both middle and upper class
by providing different gadgets. In relation to targeting middle class organisation will use
chief pricing policies where for targeting higher class organisation will use to provide
extra features in it smart watch.
Psychographic segmentation: psychographic segmentation can be categorised as
audience and customer bi factor that will directly relate to the personalities and
characteristics. It include number of segmentations which are personality traits values
attitude interest lifestyle psychological influences and many other. In context of chosen
organisation, it is going to launch a smart watch which consist different information. And
this organisation is going to target different personality traits and values. Where
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organisation will use to identify those individuals who are working on their health so that
organisation can provide them information about their requirements of energy. It is also
going to segment the market according to the lifestyle and interest of individuals in
watches where organisation will support this function by providing a smart watch which
can be helpful in identifying the energy requirements of body and provide alarm by using
appropriate software (Le Meunier-Fitzhug and Massey, 2019).
Geographic segmentation: Under the segmentation organisation has to divide the
market segment according to the geographical location where it includes city country and
radius around the certain location. In context of the current organisation, it is going to
launch its smart watch within the market of UK as well as various other global markets.
The main target area of organisation is UK where it will use to implement the product in
the market of UK. Under the geographic segmentation organisation will define the
geographical boundaries and types of area to improve the function.
Targeting: Target is the second step in this process where organisation used to target different
groups by implementation of various promotional strategies. In order to achieve the objectives of
organisation it is going to use different kind of promotional strategies which are discussed in
section 3 of the report. All this promotion strategies are covered under the marketing strategies
which will be used by Organisation in order to target the customers. This is an appropriate
system which can be used by firm to manage different customers and use its potential resources
accordingly (Minsky and Quesenberry, 2016).
Positioning: Positioning is the last stage in the process where organisation will use to
position the product within the market so that it can easily perform its function. After identifying
the market segments and targeting the customer within the particular segment it is needed to
organisation that it has to implement the product so that it can achieve its objectives. Juice an
organisation is working within the market of UK from longer time where company can easily
implement the smart watch by using the current distribution channel of organisation. The smart
watch is different concept to the current product line of organisation but form can use it in order
to achieve better profitability and implement a product and diversify markets.
It can be identified that current organisation is working in an appropriate manner by
conducting an appropriate research about the market. This is useful for Gatorade to perform its
function and manage appropriate system.
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You are required to create a rationale for innovation in a new product and/or service design for
your chosen product/service in meeting the needs of customers in line with your chosen
organisation’s strategy.
Gatorade which is an American company and deals in sports products and drinks.
Presently, the innovation which is done by Gatorade is Smart Watch which show that when it is
required for individual to consume energy drink as per the requirement of body and energy level.
So, the rationales behind this innovation are:
To enhance the profitability level of the firm by 10% within the period of 6 months.
To increase the sales level by 15 % in a year through attracting more number of
customers.
Moreover, the innovative product is developed so that customers can easily able to
understand that how much energy level they already have accordingly how much energy drinks
they can able to consume. As now a day people are very much conscious about their health so
they try to take more and more energy drinks by considering that that would be beneficial for
them. But this is not true anything that is too much would be harmful. Likewise with individuals
body any supplements or foods that are undertaken as much quantity could provide harmfulness
to their bodies. Therefore, innovative product that is introduced by respective firm is helpful for
all those consumers who are heath as well as diet conscious. So, some principles are used by
Gatorade Company which would helps them to meet their customers’ requirements such as :
Understand your consumers at granular level: As growing firm are shifting beyond traditional
quantitative segmenting, moreover, they are forming more difficult evaluation of consumers’
which draws from various kind of sources along with its attitudes and psychological data that is
accumulated through online as well as offline. So, in order to enhance the analytics ability of
consumers Gatorade Company have to initiate thoroughly explaining its market as well as
clients. In addition to this, they also have to know deep knowledge about them through using
some techniques like consumer journey mapping. Along with this, seek out information from
several sources at much granular level is effective for them in order to meet their customer
requirements effectively and efficiently (Ahearne, 2017).
Treat customers as assets which would develop in value: In this, principle, it has been stated
that not each firm cultivates their long term relation into constructive manner. But the developing
entities do so. They regularly develop effective reason for its consumer to identify with firm as
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well as their offerings. So, developing effective consumer relations is considered to be the long
term game for entity. Moreover, this goes against various common activities like tracing smaller
returns upon investment of clients’ acquisition. Along with this, it would also go beyond
quantifying the consumer relations lifetime cost at whether person or segment level by that is
essential or not. In addition to this, for treating their consumer as assets, Gatorade Company
requires clear responsibility at workplace. So, if anyone purchases products from us has issue
that should be resolved as well as there have to be some person how are accountable for this.
Along with this, it also required a culture which inspires relation development as well as
combine problem solving- a partnership with consumers as opposed to transactional selling
(Järvinen, and Taiminen, 2016).
Choose a specific target group within the framework of your chosen business and create viable
solutions that would appropriately those specific target customers’ needs.
As Gatorade Company is introducing their new product that is Smart Watch which shows
that when individual have to consume energy drink as per the requirement of body and energy
level. So for this, they target the middle and upper class people of United Kingdom. So, for
accomplishing the requirements of targeted customers some solutions are developed by their
managers. Therefore, they decided to opt some marketing and sales strategies which are going to
be discussed underneath:
Marketing strategies
Few marketing strategies which are helpful for Gatorade Company in order to accomplish
their targeted customers’ requirements are described below:
Social media marketing: Respective strategies basically concentrates upon facilitating
customers along with content that they identified effective as well as likes to share across
its social networks because this basically outcomes in enhancing traffic and visibility of
firms or individuals ideas and thoughts. With assistance of this firm can able to share
videos, content, images and also influence the potential of SEO in which they can often
able to enhance relevancy into search outcomes within social media networks such as
Twitters, Linkedln, Youtube and others. In respect of Gatorade Company, they can utilise
this marketing strategies as this aids then to minimise marketing expenditure while
enhancing leads generation, facilitates metrics which offers them additional market area
insight and others (Gentsch, 2018).
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SEO: This mainly stands for Search Engine Optimisation. It is basically the procedures of
enhancing awareness regarding and trafficking towards specific websites through
developing assurance it appears within top unpaid search outcomes upon search engines
such as Google, Yahoo and others. In context of Gatorade Company, they can adopt this
strategy of their new product marketing as this assists them to simplify searches for
consumers interested into their products. Also, this is cost effective manner for respective
firm to keep its brand competitive with similar kind of entities.
Search engine marketing: This is considered as essential strategies which entity utilises
for developing its websites traffic by paid online advertisement. Moreover, one of the
effective methods of this is pay-per- click links. Basically, firm buys or sponsors this link
which appears as an advertisement into search engine outcomes when keywords is
associated to their goods are searched. So, each time the ads is clicked through users,
entity have to pay small amount to search engine. In context of Gatorade Company, they
can adopt respective marketing strategies as this much effective due to their exploration
into online techniques, cost effectiveness in developing higher visibility about their new
product and also adaptability for various marketplace as well as consumers (Banerjee and
Bhardwaj, 2019).
Email Marketing: This is considered to be highly effectual way for nurturing as well as
converting leads. However, this is not a possibilities game as to either firm’s message
winds up into spam filters. Rather, email marketing is also an automated procedure which
targeted particular aspects as well as clients with intent of influencing its buying decision.
Moreover, respective marketing strategies success is evaluated through open rates as well
as click by rates, so tactics comes under play and also specifically when this is utilised as
an element of huge internet market initiatives. In respect of Gatorade Company, this
marketing strategies assists them to develop relations with prospects, recent consumers
and ever previous one as this provide them a chance to communicate directly with them
into its inbox.
Sales strategies
Few sales strategies which are helpful for Gatorade Company in order to accomplish their
targeted customers’ requirements are described below:
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Use “you” phrasing, not “we” phrasing: This seems effective as well as inherently
logical which represent in front of consumers for understanding its world through
positioning itself as member of its group, expecting for developing a collaborative
experiences. So, the term “we” shows suppliers as well as purchaser is “into this
together”. Moreover, firm’s vision mainly performs two researches for testing its
effectiveness of “you” versus “we”. This has been identified that “you” is much effectual
at considering aspects of taking personal accountability as well as feeling like it should
undertake some action. You phrasing force firm’s expected attention in such manner
which separates its message from its rivals. So, this is helpful for Gatorade Company to
enhance their sales of their new product effectively and efficiently (Willems, Brengman
and van de Sanden, 2017).
Up sell through reinforcing the relations: the specific sales conversations with its
consumers need much finesse those others. Moreover the expansion conversations
example is “walk a thin line among persuading its consumers for buying much as well as
influencing them to be with its solution within procedures. In case firm succeed, they lay
the base work for longer period partnership. But in case they stumble, their partnership
stagnates; incomes plateaus and its consumers become vulnerable for obtaining picked
off through rivals”. Therefore, when this comes towards winning up sell conversation,
their investigation identified which reinforce consumers partnership emotional aspects
which was much effectual in persuading audiences to develop modifications which is safe
as long as they are changing with them not away from it. Therefore, at this situation
Gatorade Company do not have to afraid to utilise some kind of emotional language f
leaning into relations among firm and their consumers. Thereafter, it have to leverage
those relations for having frank communication related to opportunities as well as
challenges that is beneficial for longer period partnership (Sheridan, 2019).
Your report should include a comprehensive evaluation of the role of data in improving
relationship marketing within your chosen business. You must also evaluate how the role
of data improves the target customer’s expectations and level of service provided.
Relationship marketing can we define is that phase of organisation which is related to
maintaining loyal customers. This function is directly related to the long-term customer
engagement rather than short-term customer care company use accurate strategies to acquire the
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customer and maintain good relationship with them. It acts as an transactional approach of
marketing where it always focus on increasing the number of individual cells rather than
focusing on mass scale (Kelly, 2017). Data is an important factor in relationship marketing as It
helped Organisation in analysing the current situation and using the potential resources in an
appropriate way so that form can manage its function and achieve better objective. In context of
the chosen organisation, it is going to launch the smart watch within the market which consists of
number of features. These features are directly associated with the strategies of organisation and
relationship marketing play important role under this. In context of organisation, data plane
important role within the organisation evaluating the targeting customers as well as help in
improving the service level of the organisation. There are a number of benefits of using data in
improving the system of relationship marketing which are discussed below in context of this
smart watch.
Identify the customer requirements: Data is useful to the organisation in identifying the
current requirements of customer. This is because data is related to the current trends of the
society which are used by the customer in order to improve the sections of their functioning. This
is helpful in identifying the functions of different customers and using these functions and an
appropriate manner. There are number of functions which can be used by organisation to achieve
the objectives and perform these functions in an appropriate manner. This is related to
performance of organisational objectives and will be helpful to the firm in achieving the current
functions.
Help in analysing requirements of customer: Data is useful to the organisation in
analysing the requirements of customer and using the current trends according to the
requirements. This can be seen that there are a number of data which help in identifying the
customer requirements by analysing them according to the needs and requirements of
organisation. In context of this smart watch, organisation will use different kind of data which
are available at various platforms and can be collected by primary and secondary research. This
data is useful to the organisation in analysing the current requirements of customer within the
market and changing the feature of the watch and analysing the response of watch by conducting
different trials. Overall data is useful in managing the customer experience by identifying the
current market (Dent and White, 2018).
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There are a number of functions which are related to the use of data and relationship
management with customers in the market. This is helpful in relationship marketing as well as
promotes the function of organisation to achieve the objectives. In context of the chosen
organisation, in order to implement the smart watches in the market organisation can use
appropriate system to collect the data which include an appropriate process. This process is
discussed below:
Including a catchy title: Appropriate title is essential to grab the attention of customer
within the market where company has to make sure that it will collect appropriate data which
help the company in obtaining appropriate title of the products and services.
Analysing the data: Data analysis is important as it include number of systems which
has to be followed and identifying the rubbish elements which should be eliminated. This is
helpful to the organisation in managing the function and achieving the objectives according to
the needs and requirement.
Storing the data: Latest tourism most important process for organisation where it can use
to identify and classify the data in different storages and store it according to the requirements.
This will impact on the performance of organisation and will reduce its ability to manage the
data.
Use of data
In context of the chosen organisation there is an appropriate method of using the system
which will help in collecting the data as well as utilising the starter in order to manage the
relationships. Here, organisation will use all those facts and figures which are collected in order
to analyse the function and achieve the objectives of firm. Real organisation will use to connect
different people with the brand by learning about the specific requirements of customers as well
as groups of customer which are interested in the products and services offered by organisation.
In context of smart watch, organisation is also going to provide feedback about the brand and
take this feedback seriously so that it can easily double the count of customer by managing their
data in an appropriate. They will also use of behavioural data which will help in showing about
the people interaction with the organisation and understanding different relationships with
customer for better functioning of organisation. Here organisation will use to identify the current
visiting on the sites of business entity. This is helpful in implementing the process of data
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collection. Under this process organisation can evaluate the mobile devices in a constituent man
where it can forget the customer by implementing mobile ads (Malshe and Al-Khatib, 2017).
In relation to the targeted customer of organisation, management of data is helpful to the
organisation in establishing appropriate relationships with different customers. This is because It
helped the smart watch in identifying the current targeted customers and their behaviour by
analysing the data in an appropriate way. This will also enable organisation about the purchasing
habits of customer within the market so that company can easily target its targeted market by
using appropriate strategies of promotion. This is helpful to the organisation in achieving its
objectives and performing the function in an appropriate manner. This will also guide different
individuals about the current working environment and will lead to successful achievement of
goals and objectives. Here, organisation can identify the current requirements which has to be
fulfilled by form in order to achieve the objective and manage functions according to the
requirements of resources availability of functions (Soundar, Micro Macro Assets LLC, 2019).
CONCLUSION
It can be concluded from the above mentioned information that there are various factors
which are directly related to the performance of Organisation in implementing innovative
concepts within the market. This can be analysed that Gatorade is performing its function within
the market of energy drinks. Company is going to use a new strategy when it is developing a
smart watch. This is smart watch is helpful in analysing the customer requirements in relation to
energy level within the body. Real organisation is going to implement this where it can use
various kinds of strategies. It is analysed that segmenting targeting and positioning of the product
is essential part which required number of knowledge and function. It is also identified that in
relation to implementation of this function organisation can easily use data. Appropriate research
letters helpful to the organisation in increasing the function and performing comprehensive rules
in improving the relationship within marketing. This is also realised that there are various
marketing strategies and strategies which can be used to implement a smart watch with the
market and performing in an appropriate manner.
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