Marketing in Order to Market

Marketing In order to market this new sports drink, the different elements of the marketing mix need to be developed (Kotler & Keller, 2012). The old four Ps include product, which here is a run-of-the-mill sports drink and a gimmicky bottle. The price will probably be premium. The positioning will have to be premium, and it will probably trade on the funky bottle. The promotion is likely going to focus on this message as well, and with the distribution being saturation in order to match the promotions of competitors.

Thus, the product will be utilizing a differentiated strategy. Budget-wise, this is something that will compete against national firms with large marketing warchests, so hopefully we are similarly equipped. Also, a P. that is not normally mentioned is important here -- patent. The bottle is the main source of competitive advantage, so that patent needs to have ironclad protection, making it difficult for competitors to develop anything even close to it. If we innovate and lose that advantage two months later, we're done.

Kotler and Keller support the idea of a new four Ps, which are people, processes, programs and performance. The idea behind people is that the people within the organization are key to success. So the first step in marketing this product is to put a good team together. The product itself is unspectacular -- most people already have refrigerators so the only thing this bottle does is make it a little more portable, for hiking, kayaking, etc.

It is going to be priced higher than competing products, without adding much benefit to consumers, and it doesn't have half the brand that the major competitors have. We are going to need good people to sell this thing. On my team, I want people who have sold sports drinks, but I also want people who have sold products of little marginal utility for a premium price. Processes, as described by Kotler and Keller, focuses on creativity and structure.

In this case, the objective has to be to overcome the faddish nature of this product. Many people might give the product a try, but the key is to make sure they buy it again, and again. Obviously the product will need to be a part of that, but the marketing process is going to play a role. The team needs to ensure that it not only has a great idea to start, but that it continues to generate great ideas.

Some of the advertising is going to be outsourced, but it is essential that the company puts up the right amount of money in order to secure the best agency to produce those eye-catching ads. In addition, we need to continuously be on top of the marketing information, getting the right feedback. We must always update the information. So again, if these processes are put into place, the company will be in better condition for a long-term growth trajectory. Programs is another element of the new four Ps.

The company needs to have two programs. The first is that the launch program. The company needs a strategy to bring this product to market, and it needs to have a program that will allow it to gain exposure, build a brand quickly, and get the distribution it needs to compete. The second program needs to follow up the first one quickly, and take the product through the growth stage of the life cycle.

This program has to continue to expand on the brand building, and get a strong follow-through on the launch. The key here is that the company needs to convince customers to drink the product regularly, and not just in a hiking context. That means that the company needs to keep the interest level high in the product.

This is why the company needs to have the best people, so that all the ideas and energy are not expended on the launch, that the second program in terms of growing the brand is just as strong as the first one. Performance is critical, and is another reason why the people element is so important. Performance reflects the measures of success that the team has for the product.

The metrics need to be finely detailed, so that the marketing team knows everything there is to know about the product's performance, and the details of the people who are -- and are not -- buying the product. Measurement is an essential part of this plan. Everything needs to be measure for a product.