Marketing Plan Essay Example | Topics and Well Written Essays - 1500 words

Marketing Plan - Essay Example The sports drink is prepared through a blend or combination of water, electrolytes and carbohydrates with an aim of helping athletes to recover the electrolytes and energy that is lost during vigorous sports activities. The scientific formulation is presented by the PepsiCo to its market through variant brands such as orange, lemon lime, strawberry kiwi, citrus cooler, fruit punch and blue cool (MarketWatch, 2010). Industry Definition Regardless of the improved performance of the brand in the market, the level of competitiveness in the sports drink market has increased significantly. This is due to new entrants into the market, substitute products and application of competitive strategies by the key players within the sports drink market. In this regard therefore there is a need to develop an effective marketing plan that will be used to enhance the performance of the food drink within the market in addition to achievement of a competitive advantage in the market as opposed to rival products (Zmuda, 2008). Company Analysis PepsiCo, the parent company that produces Gatorade aims at becoming a leader in the production and sale of sports drinks within its markets across the world. This is achieved through an effective strategic leadership approaches and a corporate culture that is focused at high quality human resource management, quality in production, innovativeness and effective marketing (Stanford, 2011). The company’s performance and challenges within the market can be understood through an analysis of its strengths, weaknesses, available opportunities within the market in addition to threats within its markets. The strengths of the company are demonstrated by the high quality of its sports drink, Gatorade. This sports drink is scientifically formulated with elements that are required by individuals who are engaged in strenuous sports activities. Additionally, Gatorade has gained a significantly strong name of its brand within the market. This is attri buted to the popularity of the parent company and the promotional strategies that are employed in popularizing the brand within its local and international markets (Sterrett, 2009). The effectiveness of the scientific formulation in allowing individuals to excel in the physical performance of their exercise and sports activity has led to winning of the loyalty of the customers for the brand. Gatorade sports drink is however faced with weaknesses such as low visibility and advertising and unawareness of the consumers on the benefits of consumption of the product during sports, training and exercising activities. The relatively high price of the product is also argued to be one of the major weaknesses of the brand. Pepsi Co has many opportunities for enhancing the performance and competitiveness of Gatorade within the market. This includes more promotional activities through an integrated marketing communication approach and the use of celebrity endorsements of famous sports personali ties to popularize the brand within its market. In addition, the company has market opportunities of venturing into new scientific formulations such as protein regimens. The company would also add more nutrients to the Gatorade formulation such as vitamins. This is an opportunity that will allow the company to compete with rival brands and sports regimens that present the consumers with highly