Mgt540 Marketing Management Assignment sample

Marketing Management Assignment

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1. Introduction

Marketing is conceptualized as a way that includes the management of commercial operations that include the marketing of goods and services, as well as the sales of those items and services (Mizik &Hanssens, 2018). Market research is thus seen as an essential element of the entire business, since it guarantees that the firm is known in the market and, more importantly, that the company is able to accomplish the marketing goals set by the company. In recent years, the marketing component of a business has been expanded to include new sectors in which the necessity of a well-crafted marketing plan has gained prominence. As described by the Marketing Proposal Definition, the written document used to convey the marketing operations of a business to a variety of stakeholders, including the management team (Hollensen, 2019). In this regard, the marketing proposal serves as an essential document for the business, assisting in the development of marketing strategies and plans for the marketing department. The design of the company's logo and slogan, as well as the phrase itself, is an essential component of the marketing proposal. Furthermore, it entails the development of a public relations strategy, which assists the business in communicating successfully in the marketplace and in establishing a good image in the eyes of the general public. Furthermore, globalization has resulted in social media being an increasingly effective instrument for the promotion of businesses, particularly those where the public relations strategy has been focused on the use of a wide range of different channels for promotion (Olson et al., 2018). The following workincludes developing a marketing strategy as well as overseeing the company's public relations efforts. The proposal will design a new logo and a new tagline for one of the businesses known as Tranquil Water, which will be discussed in more detail in the following paragraphs. Next, a social media public relations campaign will be developed to market the business as a more environmentally conscious organization while also managing the remarks made by its management and other employees.

2. Company Background

Life Water is a brand that is in the business of marketing and manufacturing bottled water products. The business is situated in California, about 150 kilometers west of Los Angeles, and it is believed to be a multi-million-dollar enterprise. The business has set out to establish itself as a “green company,” meaning that it would carry out all activities in a manner that is favorable to the environment and does the least amount of damage to nature, according to the corporation. The business obtains water and prepares it so that it is safe for human consumption and does not contain harmful contaminants. In recent years, the business has been criticized by the local community of using an excessive amount of water(Saffanah, 2021). The local community has also claimed that the business has been consuming a significant amount of water, particularly in light of the drought-like conditions that California is now experiencing. One of the manager's workings is Life Water, and Zara Leono has stated on her personal social media page that it is not only the water bottling company that consumes a lot of water, but that the other businesses in the beverage market also made heavy use of water in the manufacture of products as well(Bala& Verma, 2018). The management further said that their business just sells water and does not engage in any significant usage of the resource in any manufacturing activity. In conjunction with this, the business has embarked on the development of an exclusive and innovative product line known as Tranquil Water, in which the container that will be used to package the water will be constructed entirely of plastic.

3. Marketing Proposal

As previously said, a marketing proposal for a business offers specifics on how the company intends to guarantee the promotion and successful sales of its products and services. Because of this, it is critical that an accompanying business such as Life Water, which has been criticized for its water consumption, develops an effective marketing plan for its new and premier product life that is more environmentally friendly.

3.1 Problem Statement

Every year, Americans purchase 29 billion water bottles. Only one out of every six bottles that consumers purchase gets recycled. This is a significant problem due to the fact that water bottles do not biodegrade but rather photodegrade when exposed to sunlight. This implies that it takes at least 1,000 years for every single bottle to degrade, during which time contaminants are released into our land and water. As a consequence, 2 million tons of wasted water bottles are piling up in landfills throughout the United States. Also, since plastics are manufactured using fossil fuels, they not only pose a threat to the environment, but they also represent a significant waste of precious natural resources as well(Camilleri, 2018). Since then, Americans have accounted for more than a quarter of the world's natural resources. The manufacture of bottled water consumes about 17 million barrels of oil each year. Making a bottle of water requires three times the quantity of water that it takes to fill a bottle of water! Furthermore, plastic water bottles are manufactured from a petroleum chemical known as polyethylene terephthalate (PET), which necessitates the use of massive quantities of fossil fuels in their production and transportation to be effective.

The manufacture of bottled water consumes about 17 million barrels of oil each year. That is somewhat more than the amount of gasoline required to fill one million automobiles each year. Another point to consider is that it takes almost 2,000 times the amount of energy to create a bottle of water as it does to generate ordinary tap water. If one fills a plastic water bottle to around 25 percent capacity, it is about the amount of oil used to manufacture the bottle. Nevertheless,the usage of plastics has grown throughout time as a result of the increasing activities of industry and the growing urbanization of the world(Key &Czaplewski, 2017). In this context, plastic is regarded to be one of the materials that are created from synthetic components such as polyethylene. Plastic is also employed in a variety of other activities, the most common of which are packaging and material storage containers, both of which are dominated by plastic(Desai, 2019). The widespread usage of plastics, which are also believed to be detrimental to the environment, has prompted an increase in public concern about the environment. Plastics are regarded to be non-biodegradable, which means that if they are dumped on the ground, they will not disintegrate and will instead deplete the soil of its fertility even more. In addition, it poses a threat to marine life, which includes a diverse variety of sea animals and plant species. The result is that different awareness efforts to limit the usage of plastics are becoming more popular throughout the globe. This has further prompted the business to relocate its operations across the world to make use of alternatives that are more environmentally friendly.

3.2 Marketing Strategy

Marketing strategy is described as the formal plans that a business develops in order to accomplish the marketing goals and objectives set out by the organization. The marketing strategy is thus critical for the business since it provides the organization and its management with the direction, they need to organize their operations in order for the company to capture more market share via increased sales and better advertising(Gavurovaet al., 2018). The marketing strategy for the business called Life Water, which is particularly focused on the introduction of a new product life, was developed. Tranquil Water's marketing objectives for the current fiscal year would thus comprise the following goals:

• To expand and promote the product visibility across various media channels.
• To introduce and promote Life Water as a Greener Company
• To promote the use of bioplastic as means of sustainable approach prioritized by the business
• To foster product awareness by means of an attractive slogan and logo.

As part of its future marketing strategy, the business plans to position itself as a “greener” business that strives to preserve the environment via its actions and products. Furthermore, the strategy seeks to promote the business via the efficient use of different social media websites, as well as through the implementation of a social media public relations campaign(Bala& Verma, 2018). In addition to this, the marketing strategy for the business would place a focus on the usage of bioplastics while also ensuring effective awareness via the employment of a memorable logo and slogan.

3.2.1 Marketing Mix

The marketing mix is comprised of the critical features and elements that a firm must use in order to accomplish its marketing goals and better connect its operations with its entire business strategy (Ismail et al., 2018). The marketing mix is comprised of the four primary components often referred to as the 4 Ps of marketing (Datta et al., 2017). According to the context of Life Water, the following is their marketing mix:

3.2.2 Target Market

The target audience is the set of customers on whom the business concentrates all of its marketing efforts, as well as the creation and design of the product. It is also referred to as the target market. In this regard, the company's target audience is comprised of individuals who are between the ages of 20 and 35 years old and who are also members of the upper middle class and upper class of society, respectively(Gavurovaet al., 2018). These individuals are seen as being more health-conscious and well-educated than the general population. Furthermore, this section of the population has shown a preference for goods and services that are regarded to be environmentally friendly in their approach. At the same time, taking into consideration the price strategy of the business, which seeks to utilize premium pricing to attract more consumers from this group of individuals, would draw more customers from this group of people.

3.2.3 Positioning and Branding

Positioning: Customers' perception of a brand is referred to as positioning, and it refers to the unique location that the brand occupies in their minds. The positioning of a brand assists it in differentiating its goods from those of its rivals and, as a result, establishing a distinct image in the market. Tranquil Water, the new product in the Life Water range, would be placed between the greener product and the bioplastics-wrapped bottled water in that regard (Blankson&Coffie, 2019). The business would want to position itself as one of the companies that is attentive to the increasing environmental problems and, as a result, contributes to the development of environmentally friendly practices and goods. The business would also position itself as a supporter of water management, and it would do so by ensuring that the public sees the product as one that encourages them to adopt water-saving measures via all of its promotional activities and advertising campaigns.

Branding: Branding is another essential element of marketing management, and it entails a variety of actions that are designed to guarantee that the business, its goods, and its services are distinguishable from those of other sellers in the industry (Keller, 2017). When it comes to branding, the logo and tagline of a business are critical components of the overall strategy. The logo and tagline for Tranquil Water are illustrated in the following.

3.2.4 Logo and Slogan

The logo is a small graphic or symbol that is used by the business in order to distinguish the goods and the brand from one another among consumers and competitors. So, the logo serves to establish a distinct picture of the business or brand in the minds of customers, thereby assisting the firm or brand in achieving distinction. The particular logo of Tranquil Water is designed in a way that highlights the eco elements and light green characteristics which compliments the theme of green company with sustainable aspects present. Thus, in the following the logo is contextualized.

A slogan is a collection of words or a phrase that is used by a business to emphasize its primary message and to give the general public with a unique method to identify the goods and services that the company provides. Here is the company's new product line slogan, which is called Tranquil Water, which is represented by the following phrase.

“Sustainability is future, Bioplastic is the Way”

This phrase promotes both the sustainable vision and unique value proposition of the brand which is the use green and biodegradable alternate to plastic which is Bioplastic.

3.2.5Social Media PR Campaign

A public relations campaign, also known as a public awareness campaign, is described as an effort conducted by a business with the purpose of raising awareness about a product in the general public and alerting the general public of any important news about the firm. In this regard, the public relations strategy seeks to enhance the company's image while also reaching a broader segment of the target audience (or audience segment). Any company's public relations strategy is dependent on the employment of a variety of different promotional tools (Kendrick, 2017). In this regard, the business may make use of one of the social media public relations campaigns, in which the company's social media sites, particularly those on Facebook and YouTube, will be used to promote the campaign. It is possible to organize the campaign in the style of a game, and Life Water may make use of the Ads Manager and Facebook's power editor to create the campaign. Furthermore, the business can guarantee the integration of targeting technologies into this campaign so that individuals between the ages of 20 and 35 may be drawn to the campaign and profit from it. The business may also market itself as a more environmentally conscious organization since it has introduced a new and exclusive product line known as Tranquil Water. Through the campaign, the business will be able to update videos that explain the advantages of utilizing bioplastics as well as the methods by which a company uses bioplastics for water packaging. As an additional measure for controlling comments made by managers, a film highlighting the methods that the business uses for water management may be updated by the company. This is done with the goal of managing comments made by managers(Saffanah, 2021). A film like this will assist the business in showing that the procedures and activities that are carried out by the organization do not result in any kind of water waste. Infographics that show internal procedures as they are applied by the business may also be included in the campaign in order to help consumers understand how the company is committed to water conservation. In his opinion, the hashtags should be included in the campaign as well. This will guarantee conservation on the internet and will also serve as a plan for public relations goals in the future. It will be possible to add to the brand message by using hash tags in this manner. It is also possible to guarantee the establishment of a connection with the influencer and the media via a campaign. The essential information about the product would be communicated with influencers and the media via the use of social media.

In order to begin a particular social media campaign, a teaser that is only available on the company's social media page prior to the debut of the product line in the market may be used as the starting point. Video and picture enhancement may be accomplished via the use of a variety of filters and photo editing tools. The campaign may also be linked with hashtag programs, which would, in turn, contribute to the campaign's success by drawing a large number of people and, as a result, raising awareness about the advantages of bioplastics and the business as a whole. The promotion might be dubbed BioWater, which would aid the business in increasing awareness of the program just by virtue of its designation. In addition to this, the business may develop an app that allows a person to control his or her water use(Saffanah, 2021). The social media campaign that the business will conduct via its social media sites may emphasize the usage of this application, which will help to increase brand recognition among the general public. The download option for the application may be made available on the company's social media page, which will help to guarantee that more and more people become aware of the campaign and decide to get involved with it. It is recommended that the campaign remain active for a period of two months while the cost and timeframe are being worked out. In this manner, the Life Water social media public relations campaign will guarantee that the general public, and particularly the company's target audience, is better informed about the advantages of bioplastics. Aside from these benefits, managing criticisms received from managers will be easier thanks to a campaign that will, over the course of many months, emphasize the fact that no significant amounts of water are used throughout the processing process.

4. Conclusion

As a result of the above discussion and explanation, it is possible to infer that marketing is a process that includes the management of commercial operations that include the promotion of goods and services as well as the sales of such items and services. It is regarded as an essential element of the entire business since it guarantees that the firm is recognized in the market and, more importantly, that the organization is able to accomplish the marketing goals. In recent years, the marketing component of a business has been expanded to include new sectors in which the necessity of a well-crafted marketing plan has gained prominence. It is described as the written document that is utilized to convey the marketing efforts of a business to different stakeholders, including the company's management team. In this regard, the marketing proposal serves as an essential document for the business, assisting in the development of marketing strategies and plans for the marketing department. The above part of the study has resulted in the creation of a new logo and a new tagline for one of the businesses in the report, which is known as Tranquil Water.

A social media public relations (PR) effort was launched to portray the business as a more environmentally conscious organization, while simultaneously monitoring and responding to comments made by its management. As part of its findings, the study highlights a number of important elements of a company's marketing proposal, such as the marketing mix, issue statement, marketing tactics, target market segmentation, and brand positioning. The report has given a thorough description of each of the elements in order to guarantee that the proposal is successful. Specifically, it is hoped that the study will help to guarantee that the business is marketed as a “Greener”business and that the new product line is successfully pushed by the company.

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