Using The Waters Bottling Company In Module 1 Continu 994851

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Using The Waters Bottling Company in Module 1, continue to build the Marketing Plan Sections for the product you have selected/invented/created. Complete the following in MS Word: be concise but complete in your analysis of each plan element. Your employer wants to know you have left nothing out in your analysis. This assignment represents Section 3 of the Marketing Plan. Use the guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3– Product & Price (Module 3).

Section 3 – Product & Price (Module 3 LASA 1):

- The Product (Product Levels: Core, Actual, & Augmented, including Packaging)

- Product Life Cycle

- BCG Model

- Services Marketing

- Price Determination & Pricing Strategies

- Supply & Demand

- Competition

- Objectives and Strategies

Relate all responses using the WBC scenario and the product you have selected to market in Module 1. Create a 4- to 6-page Word document for your Marketing Plan Section. Apply a standard business writing style using the Market Planning Guide sections as your headers/subheads/bullets to your work. Be sure to cite your work in APA format. No plagiarism and include a reference page.

Paper For Above instruction

The Waters Bottling Company has established itself as a significant player in the bottled water industry, emphasizing health, sustainability, and brand differentiation. Continuing from Module 1, this section of the marketing plan delves into the core elements of product and pricing strategies, essential for capturing market share and ensuring sustainable growth.

The Product

At the core level, The Waters Bottling Company offers a product that fulfills consumers’ basic need for hydration—pure, safe, and accessible drinking water. The actual product encompasses the brand’s packaging, product design, and additional features, such as eco-friendly bottles and convenient sizes tailored to different consumer segments. The augmented product extends further, including customer service, warranty, and added value like recycling programs and community engagement initiatives. These augmentations strengthen brand loyalty and differentiate The Waters Bottling Company from competitors.

Product Levels: Core, Actual, & Augmented

The core product is hydration—consumers’ basic need to quench thirst safely. The actual product is the bottled water with its distinctive branding, packaging, and product features. The augmented product adds community and environmental initiatives, such as biodegradable bottles, loyalty programs, and health campaigns, aligning with consumer values in today’s eco-conscious market.

Product Life Cycle

The bottled water market for The Waters Bottling Company is in the growth stage of the product life cycle. Increasing health awareness and demand for convenience support this phase. Strategic marketing efforts should focus on expanding distribution channels, enhancing brand recognition, and fostering customer engagement to sustain growth. As the product advances, innovation in packaging and health-related features will be essential in maintaining consumer interest and extending the product’s life cycle.

BCG Model

Applying the Boston Consulting Group (BCG) matrix, The Waters Bottling Company’s product portfolio likely includes stars (products with high market share in high-growth markets), cash cows (market leaders in mature markets), question marks (new product lines or market segments), and dogs (products with low market share and growth). For example, flagship bottled water might be a star, while new flavored variants could be question marks. Managing these categories involves investing in stars, optimizing cash cows, analyzing question marks for potential growth, and divesting dogs to maximize overall portfolio value.

Services Marketing

Although primarily a product-based business, service elements such as personalized customer service, community engagement, and responsive feedback channels are vital. These services promote customer satisfaction and brand loyalty. Incorporating marketing strategies that emphasize quality assurance, environmental responsibility, and superior customer support enhances perceived value.

Price Determination & Pricing Strategies

Pricing strategies should reflect consumer perceptions, competitive pricing, and cost structures. Penetration pricing may help gain initial market share, while value-based pricing can reinforce quality positioning. Premium pricing might be suitable for eco-friendly, health-conscious bottled water targeting high-end markets. Dynamic pricing strategies can also adjust to seasonal demand fluctuations, promotional campaigns, and competitive actions.

Supply & Demand

Demand for bottled water continues to rise due to health trends and convenience factors. Supply chain considerations involve sourcing high-quality water, sustainable packaging materials, and efficient distribution logistics to meet market demand. Balancing supply with demand ensures product availability while minimizing excess inventory and waste.

Competition

The bottled water industry is highly competitive, with major players including Fiji, Evian, and Dasani. Competitive analysis highlights the importance of branding, pricing, distribution, and sustainability initiatives. Differentiation through eco-friendly practices and health-oriented marketing can provide a competitive edge in this saturated market.

Objectives and Strategies

The primary objectives include increasing market share by 15% within the next fiscal year, enhancing brand recognition, and promoting sustainability initiatives. Strategies involve expanding distribution channels, leveraging digital marketing, and emphasizing the eco-friendly attributes of the product to appeal to environmentally conscious consumers.

Conclusion

A well-rounded product and pricing strategy rooted in the product life cycle, market analysis, and competitive positioning will enable The Waters Bottling Company to strengthen its market presence. Continuous innovation, customer engagement, and sustainability are critical drivers for long-term success.

References

• Kotler, P., Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Armstrong, G., & Kotler, P. (2017). Marketing: An Introduction (13th ed.). Pearson.
• Lamb, C. W., & McDaniel, C. (2016). Marketing (12th ed.). Cengage Learning.
• Chesbrough, H. (2006). Open Business Models: How to Thrive in the New Innovation Landscape. Harvard Business Review Press.
• Day, G. S. (2011). Is your innovation model disruptive? Harvard Business Review, 89(5), 98-105.
• Porter, M. E. (1985). Competitive Advantage. Free Press.
• Levitt, T. (1983). The Marketing Imagination. Free Press.
• Rogers, E. M. (2003). Diffusion of Innovations (5th ed.). Free Press.
• Griffin, R. W., & Pustay, M. W. (2015). International Business (8th ed.). Pearson.
• Heskett, J. L., Sasser, W. E., & Schlesinger, L. A. (2011). The Service Profit Chain. Free Press.