THE MARKETING
MIX
MARKETING: ASSIGNMENT 4
, BTEC Level 3 Diploma in Business 16.03.2017
Introduction
This report will explain the adaptation of a certain product in order to suit the
needs of a specific target group. It will look at a coherent marketing mix for
it, a Coca Cola Energy Drink, and will further describe how the marketing mix
targets potential customers.
What is a Marketing Mix?
Often referred to as the four Ps, the marketing mix is a framework for
developing marketing plans in the target market. The four Ps are the basic
components of a marketing plan: Product, Price, Promotion and Place. An
effective marketing mix not considers these but also ensures that they are
consistent –they can then be used to achieve marketing objectives, meet
customer demand and the overall success of the product or service.
Two of the main objectives of developing a marketing mix are supporting
brand building and satisfying the needs and aspirations of a targeted group
of customers.
Coca Cola Energy drink
Target Audience
Energy drinks have come a long way; they started off targeting mainly
athletes as the primary consumers in counties such as the United States.
They were initially directed at a specific crowd, although today the customer
base for energy drinks has expanded way beyond what used to be their main
audience.
When considering the target audience, the main thing to think about is what
type of consumers are in need of the energizing effect that these beverages
offer. Despite the fact that many people need an energy boost sometimes
due to fatigue and an over-worked lifestyle, there is one consumer group that
can be said to rely on energy drinks the most. This group of people are
teenagers and young adults in their 20s. It is perceived that males in
particular are more likely to believe in the claims that are made by energy
drink companies, making them more prone to make purchases, but females
are not far behind and targeted nonetheless.
For example, students are targeted consumers as many of them need a
boost to help them stay up in order to study for an exam or stay on top of
their coursework, relying on energy drinks. Younger people also live very
fast-paced lives, but apart from that there are other activities that they carry
out that would make these beverages appeal to them; whether they are
gamers, extreme sports enthusiasts or a hip-hop crowd. It is therefore safe
to say that this energy drink would not target gender per-say, but rather the
younger generation as a whole.
Unit 3: P6, M3 2
MIX
MARKETING: ASSIGNMENT 4
, BTEC Level 3 Diploma in Business 16.03.2017
Introduction
This report will explain the adaptation of a certain product in order to suit the
needs of a specific target group. It will look at a coherent marketing mix for
it, a Coca Cola Energy Drink, and will further describe how the marketing mix
targets potential customers.
What is a Marketing Mix?
Often referred to as the four Ps, the marketing mix is a framework for
developing marketing plans in the target market. The four Ps are the basic
components of a marketing plan: Product, Price, Promotion and Place. An
effective marketing mix not considers these but also ensures that they are
consistent –they can then be used to achieve marketing objectives, meet
customer demand and the overall success of the product or service.
Two of the main objectives of developing a marketing mix are supporting
brand building and satisfying the needs and aspirations of a targeted group
of customers.
Coca Cola Energy drink
Target Audience
Energy drinks have come a long way; they started off targeting mainly
athletes as the primary consumers in counties such as the United States.
They were initially directed at a specific crowd, although today the customer
base for energy drinks has expanded way beyond what used to be their main
audience.
When considering the target audience, the main thing to think about is what
type of consumers are in need of the energizing effect that these beverages
offer. Despite the fact that many people need an energy boost sometimes
due to fatigue and an over-worked lifestyle, there is one consumer group that
can be said to rely on energy drinks the most. This group of people are
teenagers and young adults in their 20s. It is perceived that males in
particular are more likely to believe in the claims that are made by energy
drink companies, making them more prone to make purchases, but females
are not far behind and targeted nonetheless.
For example, students are targeted consumers as many of them need a
boost to help them stay up in order to study for an exam or stay on top of
their coursework, relying on energy drinks. Younger people also live very
fast-paced lives, but apart from that there are other activities that they carry
out that would make these beverages appeal to them; whether they are
gamers, extreme sports enthusiasts or a hip-hop crowd. It is therefore safe
to say that this energy drink would not target gender per-say, but rather the
younger generation as a whole.
Unit 3: P6, M3 2
