Market Implementation of Nexba

Question: Discuss about theMarket Implementationfor Nexba. Answer: Market Implementation This refers to performing market strategy actions where the objectives and goals achieved, In this case, Nexba objectives is to penetrate the US market by using to its advantage, the large consumer base and the increasing demand for healthy drinks and innovative products in the market (Kotler,2015). The use of marketing mix strategies will be essential in the implementation; they will be the driving force in penetrating and dominating the market swiftly. Pricing of the product must be affordable to most consumers to grasp the market share. Additionally, the price should be adequate to maximize profits by catering for the production cost, preventing losses while simultaneously building a strong relationship with the consumer ,Not only will the strategy attract consumers of other brands, but it could also lead to reduced rivalry from other brands by reducing their market value and loyalty from their target customers. Products must flow with the consumer taste and preferences since they will identify the brand (Kotler, 2015). It's achieved by analysis of a wide range of factors like packaging, branding, and quality of the product. These factors will assist catering for target consumers preferences regardless of their segment or subset thus increasing lasting relationship with the consumer (Debo,2005). Identifying the purchasing power of target consumers and determining a channel for distributing the product by studying the purchasing habits of consumers and identifying frequently used channels of purchasing items in the US. This could be through chains stores that are strategically placed for improved accessibility, use of online market platforms due to adaptability and growth of technology, use of sales personnel to carry out field work and create awareness on new products will increase its market value of the company. Market Evaluation and Control Steps or procedures that Nexba will undertake to ensure that its marketing plans and goals are successful in the US market. The annual control and evaluation method is suitable for the marketing share dominance and increased transparency between the consumer and Nexba products. Annual control - this is a standard objective in the US market, multiple transactions conducted by the company are stated into financial statements in a stipulated time e.g. Quarterly or monthly. This is achievable using the following tools; Sales analysis-Nexba determines the sales made in the period have achieved by reviewing trends in the market and effectiveness of various sales strategies, if the sales are down what are the solutions used in effecting the sales upwards, this will be an essential tool for controlling and evaluating the procedure (Doraszelski, 2014). Market share analysis this is a review mirror that shows how Nexba is performing compared to its competitors in the soft drink market through the sales and profits made. This helps in determining the market share and the main competitors narrowing down to the objective of overshadowing them Market-based scorecard analysis and Financial Analysis-Evaluation of business projects and financial entities, this is essential in determining investment suitability the market Profitability control- Its primary focused on profitability o the company, how Nexba will tailor their objective for the US market and gain profits from its, the core for this criteria is used in targeting the taste and preference of the consumer, Quality control of the product, adaptability of the company to the changing environment, affordability of the Nexba price products that must cater for the production so as to prevent any future losses and tailoring the brands according to each segmentation of the consumer Efficiency control-micro analysis of the marketing mix which involves sales of Nexba products in general that are promotion, distribution, and advertising. Keeping track of Nexba products sold at a period like a week and its revenue generated should be recorded, cost of publicity and distribution of the products, this criterion is essential in managing the company in and efficient way (Emtiyaz, 2012). Strategic control- Nexba managers tend to evaluate their marketing program in a long-term perspective through analyzing the companys strength and opportunities. This is possible through self-evaluation of strength and weakness involved in the US market and the integration of the marketing strategies it set out to make (Pakes, 2014) Marketing Audit- This is a sophisticated and systematic analysis that Nexba will use to examine its strengths about the US soft drink market. It studies the market environment and determines the macro factors that tend to influence it for example culture of the American consumers their ecological and political conditions and their technological growth. The market facilitators who include dealers, salespersons distributors are also analyzed and evaluated according to their importance to the survival and profitability of the company and any mishandling are identified which is important t the company (Kotler, 2012). Reference Debo, L.G., Toktay, L.B. and Van Wassenhove, L.N., 2005. Market segmentation and product technology selection for re-manufacturable products.Management Science,51(8), pp.1193-1205. Lages, L.F. and Montgomery, D.B., 2001.Export assistance, price adaptation to the foreign market, and annual export performance improvement: A structural model examination. Graduate School of Business, Stanford University. Emtiyaz, S. and Keyvanpour, M., 2012. Customers behavior modeling by semi-supervised learning in customer relationship management.ArXiv preprint arXiv: 1201.1670. Ha, H.Y., influencing consumer perceptions of brand trust online.Journal of Product Brand Management,13(5), pp.329-342.2004. Factors Doraszelski, U., Lewis, G. and Pakes, A., 2014.Just starting out: Learning and price competition in a new market. Working paper, Harvard University. Narver, J.C., Slater, S.F. and McLachlan, D.L., 2004. Responsive and proactive market orientation and new?product success.Journal of product innovation management,21(5), pp.334-347. Kotler, P., Keller, K.L., Manceau, D. and Hmonnet-Goujot, A., 2015.Marketing management(Vol. 14). Englewood Cliffs, NJ: Prentice Hall.