Leaping lizard Integrated marketing communication plan
Leaping Lizard Company is a new company that produces a natural energy drink called Leaping Lizard. The drink is purely non-alcoholic and it provides a high amount of energy to the users. The company has just launched the drink and it is yet for introduction in the market. It is obvious that the company has to work hard for a successful capture the market for the product. There is already a stiff competition in the market of natural drinks, the leading competitor being Red bull. The company wishes to reach as many customers as possible. Therefore, the main challenge is to find effective ways through which Leaping Lizard can get popular to the market. This paper will attempt to identify the action programs and sections as well as projected profit and loss statement.
Action programs and sections
An Action program plan section explains the marketing thrusts broadly mainly for the purposes of business objectives achievement. There must be the presence of elaboration of all strategy elements of marketing in order to provide answers for questions like subject to be done, time of the action and the doer as well as the cost of the promotion for leaping lizard. (Rich, 2011)
Leaping Lizard Company will direct most of its promotional activities to the media advertisements inclusive of trade shows directed at dealers and another one directed at consumer with an estimated cost of $20000. These will include radios on frequency 103.5 Liz fm, televisions, magazines and newspapers. Media is the most efficient way of marketing a new product. For instance, advertising through radios and magazines is not only cheap but also effective in passing out the information to a target market. This roughly cost $8000 slightly lower than sales contest which ideally awards trips and vacations to dealers with an estimate of $13000. The company will not rely so much on newspapers since they are very expensive. In stead, it will complement the radios on frequency 103.5 Liz fm and magazines with cable television since this mode is cheap and passes information to many people at the same time. The adverts on these media will contain the necessary details of the new brand including its cost and benefits.
The second action is creation of responsiveness; the company will create awareness of the product by word-of-mouth and issuance of free samples. The company will hire young energetic individuals who will benefit from training and get important information about the new product. These individuals will get placements in to various work places and institutions of higher learning to pass the information to the potential customers in these places. The marketers freely get samples to distribute to these targeted prospects. Word-of-mouth and free samples are as effective as media in creating markets for new products such as the Leaping Lizard. (Lamb, 2011)
The last action and program is for the company to use Internet pop-up ads and the company’s website to pass information to prospects. This mode will mostly target the e-prospects. Pop-ups are effective in promoting a new product since they come automatically whenever someone accesses the company’s website. The company will design the pop-ups in such a way that they contain information regarding the company and the product. This will be important in informing the viewers about the location of the company, importance of Leaping Lizard and its price. Internet ads are cost-effective and reach a large group of prospects at the same time.
All these programs follow each other after a specified period which could be after every two months or three months and most follows the order from April, August, February of the following year and September and in that order. Changes on time depend on consumers and general sales. Advertisement on newspapers is mainly for leaping lizard consumers and retailers. (Scott, 2010)
Projected profit and loss statement
Action programs and sections give room for the leaping lizard manager to prepare an underneath budget. On the side of revenue, there is a clear display of the forecasted sales volume in units and realized value put on average terms. On the side of expenses, there is a clear indication of the production cost and values in dollars. Leaping Lizard aims to have a steady growth in its revenue. In particular, the company has a financial objective of earning an annual rate of return of 20% on its investment over the next five years in business. Year after year, the company aims to grow its profits by 25%. Specifically, it aims to produce $2,000,000 in profits during the first year in operation. Leaping Lizard also strives to produce a cash flow of $3,000,000 during the first year in business. In successive years, this should increase by 25%. (Hooley, 2008)
In review of the leaping lizard, audited and unaudited income statements and expenses have various differences. In the financial year 2006 and 2007 for example, income statements show an inconsistency in consumption of the energy drink. Provision of doubtful accounts turns out to be the biggest difference. In 2007 figures on the unaudited statements read $13,600,000.00 while audited reports in the same year read $14, 700,000.00 both figures display a one million dollar difference and it is put in red. (Hooley, 2008)
Hooley, G. (2008). Marketing Strategy and Competitive Positioning. New Jersey: Prentice hall.
Kotler, P. (1994). Marketing Management: Analysis, Planning, Implementation, and Control.New York: McGraw Hill.
Lamb, C, Hair, J & McDaniel, C (2011).Essentials of Marketing. Edition7.New York: Cengage Learning
Rich, D. (2011).Cornerstones of Financial & Managerial. New York: Accounting Cornerstones Series.
Scott, D (2010). The New Rules of Marketing and PR. New Jersey: Prentice hall.