Marketing Plan of PepsiCo Essay Example | Topics and Well Written Essays - 1750 words

Marketing Plan of PepsiCo - Essay Example The researcher states that the PepsiCo trades a large range of brand including Pepsi cola, diet Pepsi, Doritos and Lipton teas among others. However, the company faces a stiff completion from the Coca-Cola and draft foods both of which are making marketing path in America, Europe and Asia. According to William and Robert the company must deal with a number of local brands and guarantee the loyalty of customer’s demands. Thus, PepsiCo’s marketer must persistently research on customer’s preferences and study the impact of environmental forces to develop the precise marketing mix for the right market. The company has released that most of the populace suffer from health predicaments; thus, it has developed a new product that will meet the healthier eating habit of customers. The walkers’ snacks are the new product in the market, characterized by their low sodium content. The product was discovered to meet the United Kingdom’s campaign to warn customer s on the risks involved in the intake of high contents of salt. The company took the incentive of introducing this product that would capture the rising demand of customers to change their diets to something healthier in the market. In order to market the walker’s snacks in the market, PepsiCo Company has commenced reducing the level of salt in several other snacks worldwide. By so doing, the customers will opt for the company’s product, and consequently they purchase the new product among others. Meanwhile, it is discoursing usage of fats and sugar by making labeling more prominent so that customers can make educated choices. According to Justin and Longenecker (2011, 69), this strategy is extremely advantageous to the company in marketing the new product because it captures the customer’s confidence of the products offered in the market. When customers are convinced of the quality of the other products of PepsiCo, it will be easy for them to appreciate and acc ept the new product easily. Cheverton (2005, P. 57) indicate that the company via intensive research noticed that there was a higher use of digital media among young adults and youth that would be a large and productive target market for the new product. Thus, the company will use the internet, Facebook, twitter to communicate with customers and influence these customers on the significant of the product. It will allow customers to vote online for the new product will promote the product among the marketing mix in the market. The company will run contents asking customers to form and submit homemade television commercials for the new product in the market. The company has combined the digital marketing with social responsibility in that it will invite the customers to apply online for grants that would change their society. Roberts (2011, P.57) indicate that the strategy will make the customers notice and respond to its social responsibility and promote the buying decision of the ne w product in the market due to the earned positive image of the company. The marketing research done on the customer’s preference and demands in various countries will maintain a steady stream of new product introduced in the market. Financial management The impressive marketing strategies of the PepsiCo Company would make the introduction of the walkers snack in the market success. The company aimed to realize revenue of one million just 25 days after the product is introduced in the market. However, the new product is rarely an immediate success due to the challenges encountered during marketing. Thus, the Pepco marketers would be extremely keen in the purchasing pattern of the customers. The company should constantly modify product prices.