SpringVita Marketing Plan and Strategy
SpringVita is a Non-Alcoholic Beverage (NAB) company that produces new generation zero calorie vitamin water, with the variety of different vitamins and flavors, made from fresh artesian water. The meaning behind the name is that the spring is associated with a new, fresh and recreational nature, meaning that the drink will be something pure, revitalizing and infused with vitamins. Our mission is to improve health by creating delicious zero calorie water beverages, which comprises of healthy ingredients such as different types of vitamins.
First, it is a non-alcoholic beverage that can be consumed by both alcoholic and non-alcoholic groups. The major driving concept was to capture an all-inclusive target market with the SpringVita drink. However, it mainly focuses on capitalizing on the interest of individuals and families choosing healthy drinks, especially vitamin water. Targeted areas include Berkley, Chevy Chase, Cleveland Park, Wakefield, and other parts that form the Ward 1 area of Washington DC. The total number of inhabitants of the regions mentioned is close to 80,000 residents making it a diverse and suitable enough are first to release the product.
Spring Vita will focus on competing mainly with non-alcoholic drinks in the market, competing with soft drinks, energy drinks, plain water, and other mineral water brands. The key players in the industry include household names like Coca-Cola, Pepsi, Nestle, and Red Bull. The primary challenge is having to compete with these brands because they have also penetrated through the intended target market by producing hundreds of products, and spreading their reach to other countries.
To get ahead in the game, SpringVita will focus on using the people, price, product, and promotion marketing mix (Randazzo, 2014). While other brands focus on an extensive market range, SpringVita will focus on clients who have a preference for vitamin water. The audience in Ward 1 might be smaller than other companies’ reach, but alienating the target narrows the focus on producing the top-class product. One of the ways in which SpringVita can get ahead is by creating flavors that other companies have not yet attempted to, or merging flavors. The pricing will also be set relatively lower than that of other brands to give it a competing advantage (Miskelly, 2013). The prices will eventually be adjusted based on how receptive the people are to this new non-alcoholic drink. SpringVita drink also relies on its novelty upon introduction to the market to attract buyers and gain popularity.
The Five F’s criterion is suitable for defining the company’s message (Murynets, 2012).
• Focus: this criterion highlights the significance of this venture. The primary goal is reasonable moderate growth, increasing annual profitability and expansion throughout the markets. Other than that, the drink adds nutritional value and nourishment to its consumer
• Follow-through: this criterion involves the implementation of strategies. As mentioned above, SpringVita seeks to adapt to the 4Ps of the marketing mix as the chief operating implementation strategy. The product quality intends to resonate with the target audience and place, and pricing will also be adjusted to attract a larger clientele base.
• Feedback: this criterion defines how receptive the customers are to the new beverage introduced. Feedback will be judged by the sales, direct questioning, of having the buyers fill questionnaires.
• Flexibility: this aspect is essential when it comes to implementation of strategies and managers are advised not to be too rigid. Spring Vita will demonstrate flexibility for allowing the product to change, introduction to new markets, and adapting to the market trends.
• Fun: having a great time paves the way for creative innovation and adding excitement to the people involved. Too much seriousness causes redundancy and creates a formality that does not support creativity. It also reduces the level of seriousness with which people behold working.
These are the means by which SpringVita gets introduced and exposed to the market. Not all means are appropriate for the bulk of organizations or investments. However, the company selected two vehicles for use to promote exposure. After deliberating, the company chose to settle for online marketing as the primary form. It embraces the investing or endowing of a company in a website or online presence via social media (Milligan, 2012). The advantage of using digital marketing methods such as social media is that it is fairly cheap to operate and maintain. It also covers a broad range of people, and through these platforms organizations gain exposure without having to pay a cent. It also reaches a wider global audience, setting the ground for international expansion in the future (Ryan, 2014). Business owners should be careful when using social media because they also need to build their brand or image to appeal emotionally towards the audience. The other alternative is by using promotional means, for example, planning small events and inviting other stakeholders or potential partners to attend. Sales people will be located at various spots to encourage clients to buy the product and at the same time getting feedback about the drink and factors that need improvement. Mainstream media was an expensive form of advertising for the company and will venture into it after being established or raising enough capital. Other types of marketing, for example, posting adverts in print applications were deemed as irrelevant and ineffective.
Milligan, S. (2012). Marketing strategies. Delhi: Research World.
Miskelly, M. (2013). Encyclopedia of major marketing strategies: Volume 3. Detroit: Cengage
Murynets, I. (2012). Optimal Investment and Marketing Strategies. Singapore: World Scientific.
Randazzo, G. W. (2014). Developing successful marketing strategies. New York: Business
Ryan, D. (2014). Understanding digital marketing: Marketing strategies for engaging the digital
generation. London: Kogan Page.