Marketing Report: Analyzing a New Product and Marketing Strategies

This report analyzes a new product that combines soft drinks and cocktails, targeting the Iraqi market. The product aims to provide a unique refreshment option for business events and is promoted through social media platforms. The report discusses the product's features, the importance of social media marketing, and the potential for market penetration based on sales data from liquor shops. It also highlights the benefits of the product, such as its unique taste, and how it addresses a specific consumer need. The report references relevant academic sources and provides a comprehensive overview of the marketing strategy for this new product, including how to maximize its potential in the market.

Running head: MARKETING
MARKETING
Name of the Student
Name of the University
Author Note

1MARKETING
The two existing offerings which are presently found on a liquor store shelf and will
be combined them to create a brand new product are soft drinks and cocktail paraphernalia. It
will be a new brand offering in the market place of Iraq, where the organization of those two
existing offerings is going to be merged to produce that final product. This new offering will
be sold to the business parties that will be hosted by different business entities in the region
of Iraq. The cocktail will provide refreshment to the people who will consume it after
spending tiresome hours in the office premises. Apart from this, the unique benefit that will
be provided by this newly blended product will be the taste that has not been provided by any
other drinks before this product (Verster, Benson and Scholey 2014).
The unique features will be communicated by the social media platforms where the
organization is present. It can be started in this context that advancement in the field of
technology will be used by the management of the owner of this newly product manufactured
after mixing of soft drink and cocktail that is already sold as existing separate products in
liquor shops. It has been seen that most of the consumers possess more than one social media
platforms, which will be targeted by this company (Murphy 2013). The number of buyers of
this particular product in different liquor shops in Iraq will be used as the evidence, which
will increase the demand of this particular product, which will help to increase the revenue
earning as well as the market penetration for this organization.

2MARKETING
Reference
Murphy, J.P., 2013. The Principles and Practices of Bar and Beverage Management-The
Drinks Handbook.
Verster, J.C., Benson, S. and Scholey, A., 2014. Motives for mixing alcohol with energy
drinks and other nonalcoholic beverages, and consequences for overall alcohol
consumption. International journal of general medicine, 7, p.285.