new_product_launch_marketing_plan_part_i.doc.docVIP

New Product Launch Marketing Plan, Part I Mufuliat Adeseun, Sontisha Allison, Shelia Collins, Johanna Curtis-Dancy, Latrina Saunders, and Emma Yearby MKT/571 Heather Hanchak-Moss February 24, 2014 New Product Launch Marketing Plan, Part I The business industry today is very demanding as well as competitive. Successful companies use different marketing strategies and techniques to operate the business and launch new products. Domestic and International marketing is a technique companies use to introduce their products or services to consumers around the world. PepsiCo is a company based in the U.S. with a worldwide reach. When developing a new product for consumers it is vital for the company to create a marketing plan using the appropriate market segments that identifies with consumers needs and wants. Market needs for local and international markets PepsiCo has low competition in its local market and the customers are in need of products that are sensitive to sugar levels and the energy drink will make the company succeed in this type of market. In addition to the market needs, products that are flexible and during various seasons, PepsiCo should be able to change the product offered and the getup of the bottle (Tsafarakis et al, 2011, p. 1254). The changes should be made according to special offers or during special sports occasions. PepsiCo has to consider the differences present in various international markets and in markets having high temperatures, the market demands coolers to handle the heat experiences during summer. For the product launch to be success in the international market, PepsiCo will need to complete a thorough market research before introducing the product. Physical environment such as climate and weather variations and cultural and religious beliefs must also be put into consideration. Market growth for local and international markets The grow plan for PepsiCo’s energy drink begins with determination of its market area, this invo