Marketing plan stage2 Assignment Example | Topics and Well Written Essays - 2500 words

Marketing plan stage2 - Assignment Example The company should introduce new products in the market and modify existing less popular items according to taste and preference patterns of contemporary consumers. The success of the current marketing plan should be reviewed and determined with the help of several assessment means such as, market share analysis, target customers sales, budgeting and customers’ feedback (Stryker, 1998). The research paper elaborates on an appropriate marketing plan for Pepsi Company. The company operates in a highly competitive industry. With the help of a marketing plan, the company can improve brand position within the industry. However, marketing strategies of the company cannot be formulated without a precise analysis about financial status of PepsiCo (Kotler, 2008). The following financial analysis is based on data collected from financial review of the company in stage one marketing plan. From the trend line above, it can be claimed that scale of business operations of PepsiCo had significantly fallen after the financial crisis (Kotler, 2008). Even so, company’s business has achieved high growth rates 2011 onwards. PepsiCo operates within the beverage industry. Over time, the global beverage industry has adapted to several changes, due to shifts in taste and preference patterns of consumers. The extent of market rivalry experienced by firms within this industry is high, where the biggest rival of PepsiCo is Coca-Cola. Both these firms adopt competitive pricing strategies in business. The products of these firms are sold at reasonable prices so as to capture a wide range of potential customers from different income strata. Hence, it can be claimed that firms within the beverage industry faces monopolistic competitive pressure as they sell qualitatively differentiated products (Kotler, 2008). As in a typical monopolistic industry, each firm functions as a profit