Mkt500

EXTRA CREDIT – TWO MOST IMPORTANT MARKETING STRATEGIES

BY

LEATOR KNUCKLES

PROFESSOR DEIRDRE GUION

mARKETING management- MKT500

strayer university

DECEMBER 16th 2011

One of the most important attributes of a marketing strategy is to identify a target audience, and to be able to determine what will be the best and most effective way to reach those markets. Pepsi meal replacement drink was created to help expand the company’s product portfolio and increase revenue. It is a corporate goal to increase profitability while venturing into new markets. Although Pepsi is one of the leaders in its market, however, there are some concerns about the demand of cola drinks. The company is not where they need to be because the market for cola continues to drop. Venturing into a new product line is where the company must go in order to increase its market share.

The two most important marketing strategies for my business are employee and customer satisfaction, and the use of celebrity endorsements. We believe in servicing a customer is a part of every purchase and interaction with internal and external contacts. A happy customer is always a repeated customer. Our company will focus on providing excellent customer service both external and internal. We believe firmly in our employees and we want them to also be happy with our company. A happy worker exhibit great working skills and the ability to excel at their best.

Celebrity endorsements are a great marketing strategy which can be used to introduce a product to a company’s existing portfolio. We believe celebrity endorsement can bestow special attributes on products that will help gain large market share. It can also be used to gain credibility and add value to a brand. Using a celebrity from the athletic or sporting industry to market our meal replacement drink will help Pepsi gain customer loyalty, increase profitability, and generate revenue.