Creating a Marketing Plan for Lucozade Energy: Objectives & Analysis

This report presents a comprehensive marketing plan for Lucozade Energy, a leading soft drink in the UK, focusing on meeting customer needs and achieving specific marketing objectives. The plan includes a situational analysis using SWOT, STP analysis covering segmentation, targeting, an...Read More

Marketing Plan

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Viable and coherent marketing plan............................................................................................1
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing plan is termed to an operational document which summarises advertising strategy
which a business will execute with the aim of generating leads along with reaching target market.
It identifies marketing goals as well as explains the ways in which marketing based activities will
assist company in accomplishing wider goals together with objectives. For the project, chosen
business is Lucozade which is leading soft drink manufacturer in UK. It offers energy and zero
range drinks (Lucozade, 2021).
The report highlights development of viable as well as coherent marketing plan in order to
meet needs of customers for specific product in the company.
MAIN BODY
Viable and coherent marketing plan
Marketing plan details outreach along with public relation campaigns that are to be
undertaken over certain time period, comprising ways in which entity will measure impacts of
initiatives (Fotiadis, Mombeuil and Valek, 2018). Lucozade Energy is glucose carbonated drink
offered by Lucozade in the market. Marketing plan for the purpose of meeting demands of
customers for Lucozade Energy within Lucozade is as developed:
Particulars Description
Overview of
company
Lucozade is successful organisation in industry of energy as well as
sports drink. It was established in 1927. It is original energy drink along
with category driver. Lucozade Energy is one of product of the
company which is highly concentrated source of energy that quickly
assimilated in bloodstream.
Marketing objectives For Lucozade Energy, marketing objectives are as follows:
 To improve product awareness by 15% till 2023.
 To increase profitability by 12% till 2024.
 To enhance market expansion by 20% till 2025.
Situational analysis Situational analysis refers to a collection of methods that are used for
analysing internal together with external factors within the entity
(McCollough and Shook, 2017). For Lucozade Energy, situational
analysis is possible through using SWOT Analysis that is as follows:
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Strengths:
 Lucozade Energy has
multiple flavours to
meet demands of
various types of
customers and attract
them.
 Taste of the product is
great and it have
competence for
dominating energy
drink market.
Weaknesses:
 Lucozade always
emphasise for
developing new
products. However,
people are curious to try
new products that puts
Lucozade Energy in
risky position.
 Lucozade Energy lacks
penetration in global
market.
Opportunities:
 Lucozade Energy
have opportunity to
penetrate in untapped
international market
through social media
platforms so to
generate awareness.
 Demographic trends
such as increasing
population as well as
purchasing power that
favour consumer
healthcare market is
growth opportunity
for Lucozade Energy.
Threats:
 Aggressive marketing
addition to promotion
by rivals.
 FDI in retail sector
allows international
brands together with
enhances bargaining
power of big retailers
that can impacts
negatively on
negotiations of
Lucozade Energy for
better margins.
STP analysis STP Analysis can be delineated to three phase framework which
examines organisational offerings and ways they communication their
advantages to particular customer segments (Wanjiku Ndungu and
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Wacuka Gikandi, 2018). For Lucozade Energy, STP analysis is
underneath:
Segmentation: With this, organisational marketers identify niches with
particular needs, mature markets for discovering new customers,
making delivery more emphasised as well as effective marketing
messages. For Lucozade Energy, basis of segmentation includes
behavioural and psychographic segmentation.
Targeting: Herein, organisational manager looks at segments which are
identified for determining best opportunities for business. For Lucozade
Energy, target segment is people with high interests, favourable
attitudes, great values and more purchasing habits for sports energy
drink.
Positioning: To position Lucozade Energy, managers consider
positioning opportunities which have potential to assist in responding to
unmet needs in market which the product can fulfil. Some positioning
strategies used for Lucozade Energy are product user approach, sports
based positioning and social media positioning.
Marketing mix Elements of marketing mix Lucozade Energy are below:
Product: Lucozade Energy is product offered by Lucozade to customer
segments. It easily digests and manufactured for providing an energy
boost. It acts as glucose fuel for physically active person.
Price: For Lucozade Energy, premium pricing strategy is used by
Lucozade wherein product prices are set higher for making higher
margins, however, after entrance of rivals, the company slashes prices
for holding market position.
Place: It is dynamic as well as fast moving area of marketing (Hisrich
and Ramadani, 2018). Places where Lucozade Energy is available for
customers are retail outlets, store of company, health care facilities,
shopping malls and many more.
Promotion: For Lucozade Energy, recipe to success is product
promotion. Managers of Lucozade uses sponsorships as promotional
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tools for the product. Moreover, social media marketing is suitable to
generate awareness among larger audiences in limited time period.
People: People involved with Lucozade Energy are employees of
Lucozade that have effective skills and knowledge for generating leads
and increase profitability for the product.
Process: The process to distribute Lucozade Energy includes
manufacturer (Lucozade) to wholesalers to retailers to end consumers.
Physical evidence: It is everything which end customers see at the time
of interacting with business and products (Timotin, 2019). For
Lucozade Energy, physical evidence is physical environment wherein
the product is offered, packaging and branding.
Finance and
budgeting
In relevance to Lucozade Energy, forecasted finance for marketing and
promotion are as follows:
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Monitoring and
controlling
To monitor and control marketing plan for Lucozade Energy, there are
certain tools that could be used by managers of Lucozade.
Benchmarking is effective tool to monitor and control activities,
policies and plans that are devised along with executed by top
organisations so to make necessary changes in strategies for Lucozade.
KPI is also effective for monitoring and controlling as it enables
members of company for making rational and smart decisions for
directions of the current project (Aillón-Guerra, 2021).
CONCLUSION
From the project, it is concluded that marketing plan aids in articulate strategy for promoting
brand together with growing sales along with revenues. It provides insights about market, ideal
customers and ways to engage them in meaningful manner. It lays down focus to allocate
marketing resources in most economical way and gives intelligent direction to complete
operations.
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REFERENCES
Books and Journals:
Aillón-Guerra, S. J., 2021. Plan de marketing digital para generar presencia y potencializar las
ventas de empresa textiles Bbrdacho en la ciudad de Manta (Master's thesis).
Fotiadis, A., Mombeuil, C. and Valek, N. S., 2018. Designing and implementing a marketing
plan. In The Emerald Handbook of Entrepreneurship in Tourism, Travel and
Hospitality. Emerald Publishing Limited.
Hisrich, R. D. and Ramadani, V., 2018. Entrepreneurial marketing: a practical managerial
approach. Edward Elgar Publishing.
McCollough, M. A. and Shook, S. R., 2017. Integrating the marketing research and marketing
strategy courses. Journal of The Academy of Business Education. 18. pp.187-200.
Timotin, A., 2019. Developing national social marketing strategies in the Republic of Moldova.
In Simpozion Ştiinţific Internaţional al Tinerilor Cercetători (pp. 128-135).
Wanjiku Ndungu, M. and Wacuka Gikandi, J., 2018. Strategic marketing of electronic resources
in academic libraries in Kenya. Journal of Scholarly Publishing. 49(4). pp.435-452.
Online:
Lucozade. 2021. [Online]. Available through: <https://www.lucozadeenergy.com/>
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