MARKETING MANAGEMENT

Marketing Management

[Name of the Institute]

Introduction……………………………………………………………………………………….3

Background of the Company.......................................................................................................3

Importance of Maslow's Hierarchy of Needs for Marketing Strategy……………………………4

Marketing Mix…………………………………………………………………………………….5

Target market…………………………………………………………………………………..5

Distribution Strategy……………………………………………………………………………………..6

Promotion Strategy……………………………………………………………………………..8

Pricing Strategy………………………………………………………………………………...9

Product10

Pricing11

Distribution11

Promotion12

Action Plan14

Conclusion15

References16

F&N Beverages

Introduction

New product development is a multi-stage process. Many different designs with a varying number of levels have been suggested in the literary works. We temporarily review these designs and recommend a new model that is better best for making decisions regarding item efficiency and requirements. In this paper we will present the marketing plan of an innovative product of the growing market. F&N Bottling Company will launch a new innovative product of energy beverages that would be introduced by Fraser & Neave Bottling Company. This new product will be a health related energy drink and will target the health conscious young customers through different marketing strategies (Adomavicius, 2008). The core focus of this paper is to discuss the marketing strategies that would be involved by the company in order to introduce the new product in the market in comparison with the existing marketing strategies of the company.

Background of the Company

F&N Bottling Company is a renowned beverage company in the beverage industry of Singapore. The company proffers a selection of ground-breaking healthiness beverages ranging from fresh juices, vitamin tea to energy drinks unified with various natural antioxidants. In addition to this, the company is well aware of life style of its customers, thus will provide a wide range of innovative beverages, and also develop resourceful health solutions to meet all the health related expectations of consumers in Singapore and other countries in which it operates.

In this report we will discuss the marketing plan of the F&N Bottling Company ltd. energy drink. The company will launch of an innovative line of energy drinks “Energy Boost” that would integrate the health benefits of the “super outgrowth”, with a notable list of medical advantages (Glowik, 2011). The main concept idea behind energy drinks are that, they endow with an immediate energy boost. They excite the brainpower and body of the consumers and boost their energy.

Importance of Maslow's Hierarchy of Needs for Marketing Strategy

Maslow's Idea in Developing the Hierarchy Of Needs Abraham Maslow's hierarchy of needs (hereafter referred to as the hierarchy) is a psychological theory that ranks human needs from the very basic to the most complex. According to Maslow, people seek to meet their essential life needs first, then they move up to the next level of the hierarchy to fulfill desires at a more abstract level. Marketing shows customers how products and services can meet their needs, so Maslow's hierarchy offers a useful framework for developing that strategy. The hierarchy of needs is comprised of five levels: physiological needs; safety needs; love, affection and belongingness; esteem needs and self-actualization needs. Physiological needs are the very basic requirements for sustaining life, such as food, oxygen and shelter. Safety needs involve peoples' longing for stability and predictability in life. After fulfilling requirements at these two basic levels, people strive to overcome loneliness through love, communication and ...