April 21, 2008
Marketing Plan: Phase III Paper
A clear vision and strategy has been developed for Gatorade’s new energy drink the Drive Energy Drink. With that said, the next step to developing the product is to determine the attributes, the product life cycle, and positioning and price strategy of the product. Knowing the right look and feel of the drink can increase sales and use of the product. How will the product be introduced to the consumers? How long will the product last on the market until new ideas will need to be developed? What position will the drink have in the market and how will it differentiate among its competitors? What prices will the product be sold at to withstand alleviation from the market? These are all questions that must be answered and properly addressed prior to the development of the Drive Energy Drink. Throughout this paper, Learning Team A will comment and strategize the next steps in developing the Drive Energy Drink Description of the Attributes of Drive
Gatorade has created a new energy drink that is filled with ingredients to give individuals oomph to last a whole day or more. The features, functions, and benefits of this product will help with the marketing of this product (MarketingPower, 2008). The main ingredients in Drive energy drink are caffeine and ephedrine. Both of these ingredients give the energy needed for an athlete to perform in sports, for a career person to make it through the day, or for a student to get through a long night of studying. In order to attract the targeted audience to Drive energy drink, Gatorade has to design a packaging that will catch their eye. Being that Drive energy drink is fuel for the body, Gatorade has chosen the theme of different types of cars-vintage hotrod, cutting edge racer, and professional racecar. The vintage hotrod will be the Drive Cruiser. Its flavor will be a sweet strawberry flavor with hints of blueberry and raspberry. The cutting edge racer will be called the Drive Charger. The Charger will have a lemon-lime flavor. The Drive Speedster will be the professional racecar. The flavor for the Speedster will be a blend of orange and mango. Offering different flavors will give individuals the opportunity to find the one that will fill them up with the fuel they need to perform tasks. The potential promotional tie-ins are plentiful. Each flavor can be featured individually. Some of the possible media relations are setting up free sample stations at local vintage car shows for Drive Cruiser, at the street rod/tuner car show for the Drive Charger, and at the NASCAR events for the Drive Speedster. To further coincide with the car branding, it is possible to target interested audiences by broadcasting all relevant advertisements on sports channels especially the ones that show car races. With the opportunities for promoting this product, Drive energy drink will be a huge success. Pace of Drive’s Product Life Cycle and the Factors that will Impact Movement
The product life cycle is concerned with new categories of products to the market and is not brand specific. The product life cycle describes the stages a new product idea goes through from the beginning to the end. A product life cycle is broken down into four stages that are market introduction, market growth, market maturity and sales decline. Since consumer needs and desires change it stands to reason that the marketing mix of any product must actually change during the various stages of the product life cycle. Since it is a new product to the market consumers are not aware that Drive is available. Therefore, during the market introduction phase of the product life cycle promotion is key to getting the information regarding Drive to the target audience. Considering that the consumers are not aware of the benefits and advantages it stands to reason that the sales will be lower and this will...