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Sprite (Marketing strategy, budgets, and controls) Essay Example

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Sprite (Marketing strategy, budgets, and controls)

The problem, the company is partnering with communities and government organization in introducing initiative for water preservation, water treatment, and recycling (Turner, 2000).Globalization is also introducing new challenges to sprite products. Globalization is making human lifestyle and market places dynamic. The consumers’ needs is increasing becoming complex. For this reason, Sprite product is forced to concentrate in the evolving consumer’s product and consumers are looking for more and more ideal choices. There is now a number shift in consumers’ demographic needs as there is empowered with knowledge and information. The higher numbers of the aging population plus ever-increasing styles are is influencing Sprite products marketing strategies.Every increasing competition and capabilities of the marketplace is also fostering a lot of challenges. Sprite beverages experience both local and international competition in countries where they market their products. Sprite is a well-known product and is able to overcome the issue. The product has decided to provide different options of the same product to ensure that increase their market capability and competitiveness.Due to the great decline in Sprites’ consumers’ trends and sale’s reduction in different parts of the world, it is important to devise effective marketing strategies to reposition the product brand. At present, the product is the most widely carbonated drink available in the market. however, due to a lot of competitive product that utilize the latest technology in the market, it time for the company to enhance the product in order to make it a better product as compared to those available in the market. To place the product in a stronger position as compared to other beverages, the product must be reposition as carbonated instant energy and nutritious drinks.We should devise a way of setting the company and the product to occupy a distinctive place in the target consumers’ minds. This effort will be made to encourage the consumer to make a decision of buying the product and have in there that sprite is quality drink of great test. The positioning strategies will be directed toward achieving the marketing objectives and should be deign to fit global level (Turner, 2000).The product brand will be designed carefully to ensure that it presents Sprite as one of the highest quality drinks available in the market. The brand should be able to create a nice picture in

References

Allen, F. (1994). Secret formula: how brilliant marketing and relentless salesmanship made Coca-Cola the best-known product in the world. New York, NY: HarperBusiness.

Halloran, T. (2014). Romancing the Brand How Brands Create Strong, Intimate Relationships with Consumers. Hoboken: Wiley.

Ries, A., & Trout, J. (2006). Marketing warfare (20th anniversary ed.). New York: McGraw- Hill.

Turner, M. L. (2000). How to think like the worlds greatest marketing minds. New York: McGraw-Hill.

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preview essay on Sprite (Marketing strategy, budgets, and controls)
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Masters
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