Explain the Various Elements of the Marketing Process of Gatorade
1.1. Explain the various elements of the marketing process:
1.1.a. Elements of the marketing process: The marketing process consists of four steps. These four steps are all completed with the goal of creating value for your target customers. Some elements of the steps are performed continuously, such as monitoring the marketing environment. Some are done annually, such as the annual development of a marketing communications plan. Lastly, some of the steps, if done correctly, should last for decades, such as segmentation, targeting, and positioning. (According J. Hargrave, 2010) 1.1.b. Situation analysis: a. Internal environment: * Strengths:
Vietnam government adopts policies to promote foreign investment and facilitate the foreign companies to join in the domestic market. => Gatorade can comfortably invest in Vietnam without fear of high taxes. * Weakness :
Some PepsiCo products were quite familiar to the people of Vietnam. But The Thirst Quencher is a new product in Vietnam of Gatorade brand. This product has many competitors in Vietnam what customer like to use. And the biggest competitor of PepsiCo is Coca-Cola. => makes marketing decisions more difficult, need the right direction. * Opportunities:
Sports drinks market now becomes interest. And other brands do not have many flavors for choosing as Gatorade. => With the high quality, Gatorade completely superior than many other brands. * Threats:
However, Gatorade cannot disregard its competitors. If they do not have the right strategy, this brand cannot exist in the market. => Gatorade needs to choose a way to topple the competition as quickly as possible
b. External environment:
Gatorade is the famous brand in the world and the Thirst Quencher is the high quality products with the cheap price. That is also customer want, and they would buy if they know about this product. => Gatorade is a product that is highly appreciated in the international market so Gatorade
1.1.a. Elements of the marketing process: The marketing process consists of four steps. These four steps are all completed with the goal of creating value for your target customers. Some elements of the steps are performed continuously, such as monitoring the marketing environment. Some are done annually, such as the annual development of a marketing communications plan. Lastly, some of the steps, if done correctly, should last for decades, such as segmentation, targeting, and positioning. (According J. Hargrave, 2010) 1.1.b. Situation analysis: a. Internal environment: * Strengths:
Vietnam government adopts policies to promote foreign investment and facilitate the foreign companies to join in the domestic market. => Gatorade can comfortably invest in Vietnam without fear of high taxes. * Weakness :
Some PepsiCo products were quite familiar to the people of Vietnam. But The Thirst Quencher is a new product in Vietnam of Gatorade brand. This product has many competitors in Vietnam what customer like to use. And the biggest competitor of PepsiCo is Coca-Cola. => makes marketing decisions more difficult, need the right direction. * Opportunities:
Sports drinks market now becomes interest. And other brands do not have many flavors for choosing as Gatorade. => With the high quality, Gatorade completely superior than many other brands. * Threats:
However, Gatorade cannot disregard its competitors. If they do not have the right strategy, this brand cannot exist in the market. => Gatorade needs to choose a way to topple the competition as quickly as possible
b. External environment:
Gatorade is the famous brand in the world and the Thirst Quencher is the high quality products with the cheap price. That is also customer want, and they would buy if they know about this product. => Gatorade is a product that is highly appreciated in the international market so Gatorade