Jacqueline Faassen, Lexxie Beckmeyer, and Neil Cavanah

 Jacqueline Faassen, Lexxie Beckmeyer, and Neil Cavanah 2 Table of Contents Situation Analysis SWOT The Challenge(s) Branding Strategies Communications Framework Budget Summary Bibliography p. 3-­‐9 p. 10-­‐11 p. 12-­‐13 p. 14-­‐15 p. 16-­‐17 p. 18 p. 19 p. 20 3 Situation Analysis Industry Analysis-­‐ Political Issues-­‐ There are certain steps a fairly new company must go through to become successful. While this company has found there way up the ladder, they still have to deal with issues of other companies joining the market. They have to ensure they don’t expand too quickly and out grow themselves. They must also abide by all government regulations to ensure the safety of the consumer and company. Economic-­‐ This country has experienced a boom in the energy drink companies. There is a large amount of competition from large companies to small. However, there is not near the amount of competition in natural sleeping aid drinks. Therefore, the founder recognized a potential opportunity to meet the needs of sleep-­‐deprived people. Social-­‐ This product came from a student who had difficulties sleeping. This has become a big social issue within this country. The inability to get a good night’s sleep prevents people from performing their best during the day. Therefore, a product that helps one sleep better can be a positive among many people’s social and professional lives. 4 Technological-­‐ Dream water has a large online presence. They produce content on Facebook, Twitter, you tube and other social platforms. They update this content on a regularly. This is how they are able to continue to promote their brand. Legal-­‐ Dream water has faced lawsuits since 2009. Concerns have been raised about the effectiveness of the product. The FDA does not test drinks like this before they come onto the market. Therefore there has been some question of side effects and safety issues. The company sells itself to be an all-­‐natural shot that helps you sleep naturally. But, a lawsuit that came up in Miami this year had a Florida woman who decided she received none of the promised benefits. Furthermore, thought she was harmed by the melatonin in the drink. Environmental-­‐ These factors include the millions of bottles this company has produced. Many believe water/drink bottles are one of the more harmful issue the environment faces. When these sorts of things continue to stack up in landfills, and last for long periods of time. There are some environmental concerns with this product. 5 Situation Analysis Competitors to Dream Water Direct Competitors-­‐ 1.) reBloom-­‐ (http://rebloom.com/) -­‐
Drug free -­‐
No preservatives, artificial additives -­‐
Only 5 calories for 2.5 oz (one bottle) -­‐
Clinically proven -­‐
Featured in The Oprah Magazine, Marie Claire, Seventeen, LA Times, InStyle, and many more 2.) iChill-­‐ (http://www.ichill.com/) -­‐
Zero calories, sugar and carbs -­‐
Drug Free -­‐
Available in over 20,000 locations nationwide and growing -­‐
Available to buy in your local convenience and grocery stores (Meijer, Barnes and Nobles, Seven Eleven, Speedway, TJ Maxx/Marshalls, and more) -­‐
Doctor Oz as a celebrity spokesperson -­‐
Feature on Good Morning America, The Today Show, The View, and published about in many magazines and newspapers -­‐
YouTube videos promoted towards college kids 6 Situation Analysis Competitors to Dream Water Indirect Competitors-­‐ 1.) Sleepytime Tea-­‐ (http://www.celestialseasonings.com/products/sleepytime-­‐
teas/sleepytime) -­‐
All natural -­‐
No artificial colors, calories, sodium, carbs, sugars, fat, and preservatives -­‐
Naturally caffeine free and gluten free -­‐
Kosher certification -­‐
Available in many flavors -­‐
Mostly online purchasing 2.) Lunesta-­‐ (http://www.lunesta.com/) -­‐
RX medicated sleep aid 3.) ZzzQuil-­‐ (http://zzzquil.com/) -­‐
Over-­‐the-­‐counter medicated sleep aid 7 Situation Analysis Company Analysis Vincent Porpiglia, founder of Dream Water, went to Florida International University in the College of Business Administration. When he graduated he was forced into a workplace drowning in recession. Determined to beat the odds he came up with the idea for Dream Water and became severely passionate about creating the product and succeeding in his own company. Dream Water’s mission is to give people a new way to fall asleep with a great tasting beverage! They encourage their consumers to work hard, play hard, sleep easy for 0 calories. They market their product to the consumers through magazine ads, billboard ads in select cities, TV appearances on talk shows, free samples and advertisements in some airports. Their sales are higher in larger cities in California, Chicago, Miami, and New York. They hope to keep expanding in the US but eventually want to put the whole world in dreamland 8 Situation Analysis Consumer Analysis College Student: Brennan Phillip Brennan is 21 years old and is a junior in College at UCLA. He is majoring in Business Accounting and minoring in Spanish and Marketing. He is a president of his fraternity, Sigma Lambda Chi. In his spare time he likes to play golf and likes to go to Anaheim Duck hockey games. He lives with 3 roommates in an apartment close to campus. On average he gets 5-­‐8 hours of sleep a night. His class schedule starts at 8am 3 days out of the week and 9am the other two days. Rebecca Montgomery Age: 28 Rebecca lives and works in Dallas Texas; she works for Southwest Airlines as a flight attendant. She flies 4-­‐5 big trips a week, which includes some overnight travel. W hen she is traveling she is staying in cheaper hotels that have uncomfortable beds, which hinder her sleeping hours. Rebecca is newly engaged and is working on fitting into her wedding dress. While she’s not working she likes to train for marathons, and go shopping at her local outlet mall. Her and her fiancé live together in a small townhouse close to downtown Dallas with their new puppy. 9 Situation Analysis Brand Audit Dream Water was started from the ground up. Their first goal was to succeed in their business endeavor. Since succeeding, they are working on creating more sales in the United States. However, their plan is to eventually expand to the entire world. It is sold in 30,000 stores nationwide! Some specific retailers that sell Dream Water are Walmart, Target, Kroger, Amazon, 711, Hudson News, Walgreens and CVS. You can also order Dream Water directly from their website and have it shopped to you! Consumers are gobbling up this product. The brand is up to 15-­‐20 Million dollars. However, like anything product works for some people and does not work for others. There is currently a potential lawsuit against the company in Miami Florida, claiming that the product did not work for a woman. She says that the excessive Melatonin caused her to have unexpected side effects. However, the company has not yet been served with the lawsuit and has made a statement about the product and it’s safety. But the majority of people find that Dream Water is a wonderful product and helps them to get sleep at night. 10 SWOT Strengths •
High quality product •
Well priced •
New and popular market segment •
Branded well •
Passionate Company •
Social Media presence •
Natural Product •
Celebrity endorsement •
Available in big named stores •
Customer Service is good Weakness •
Low brand awareness •
Brand loyalty •
Not FDA approved •
Not available in every store •
Press coverage does not reach consumers well •
Recommended for Short term use •
Not FDA approved •
Doctors do not always recommend it 11 SWOT Opportunities •
Expand advertising locations •
In and coming production •
High national distribution •
Product placement in stores Threats •
Strong competition •
Newer product might make the consumer hesitant •
More accessible Sleep Aids •
Some of the ingredients may be harmful 12 The Challenge(s) Specific: Create brand awareness. This brand is different from the majority of water shots on the market. The majority of these types of drinks help a person find more energy. Therefore, it is important that potential customers know the differences between those products and Dream water. Measurable: By creating brand awareness the sales of the company should increase. This must be accomplished through a proper advertising campaign. Actionable: A company that is already in retail stores will have a better chance of getting noticed. Actions such as sales promotions will bring attention to the product. Other forms of media like paid will also bring interest if it is in the right setting. Therefore, it is important to target magazines where the potential customers are reading. Realistic: Increase awareness of the Dream Water product. This will hopefully lead to better sales. 13 The Challenge(s) Timely: It is important to create a campaign when the product is needed. During stressful times in a year might be the best time to advertise this product. When people don’t get very much sleep (ex. Finals week) will be a good time for promotions. 14 Branding Strategies Solutions Better adverting (communication) •
College representatives & teams •
More ads in larger cities •
Internet ad on radio, Facebook, and Twitter •
Use their celebrity endorsement more to create a following •
Make better use of their social medias to increase Klout score Make better availability in stores •
Product Placement Create promotions and giveaways To create more brand awareness for Dream Water we believe that if these changes were made to the company it would increase their sales. Creating a university team for Dream Water at colleges around the country will increase awareness in the market of 18 to 24. It will give the students an experience with Dream Water to decide if it Is a product for them. This team will be called the Dreamland Clan. They will be responsible for promoting the product and have occasional events at big times on college campuses: i.e. Football games, Finals week, Homecoming, Greek Week, Basketball games and other campus activities. If the Ads were placed in larger cities more people would be willing to buy Dream Water. Right now, the only place there is a billboard is in LA. If cities like 15 Branding Strategies Chicago, Atlanta, New York, and Dallas were added to the marketing plan they would reach more people. As it stands, Dream Water uses big names like, Orlando Magic Dance Team to promote their product. If they used these as a better outlet and shared them in their advertisement people would be more inclined to purchase. Dream Water has many followers on all of their social media platforms. However, they are not being used to their full advantage. On their Facebook page they have over 65,000 likes, but only 360 people are talking about the product. If they hire someone to do specifically social media and promote the brand on an hourly basis using incentives to tag and spread the word about dream water the word would get out better. They also need to make better use of their YouTube account and Pinterest account. If you are going to have those platforms open, they need to keep them updated. Making the water more visible in stores will also create a buzz. If they place the product by the check out they will be able to catch the eye of people in every market. 16 Communications Framework With our campaign we want to achieve a better relationship with the consumer. We want to communicate to them the benefits of the product and that it is readily available to them in major convenience stores. We want to encourage the consumer to prefer Dream Water over other competitors. We also want to make them feel comfortable purchasing the product and confidant that it is the right product for them. The message we want to convey throughout the campaign is that Dream Water is a non-­‐habit forming sleep beverage that consumers can turn to when faced with the difficulty of falling asleep. The target market for the campaign is 18-­‐30. It is meant to be marketed to the hectic life of a college student to the savvy business professional. College students, like Brennan, need to get a good amount of sleep. Stressful and busy schedules sometime prevent them from getting the right amount of sleep in a night. Dream Water can help them to clear their mind of their busy schedule and help them to get the REM’s they need. Marketing to this consumer through social media will be the most successful way to communicate to them. College students have almost immediate access to social media platforms and they are easily influenced by them. 17 Communications Framework The older market for the business professional is someone who is busy with his or her job and relationships. Being a young professional is a stressful time, getting the right amount of sleep is essential. Dream Water can be the best way to help these people get to sleep at night. Especially for someone like Rebecca, who is in a job that forces her to travel and sleep at various times during the day or night. Advertisements will run in big cities like Chicago, Atlanta, New York, and Dallas. There will be mostly out of home advertising. Print ads will run on sides of busses, inside the busses, on park benches, and billboards. Other advertisements will be run in nationally known magazines such as, Women’s Health, Cosmopolitan, Details, Men’s Health, and Sports Illustrated. Social Media platforms will be the most impactful change in this campaign. Hiring someone to run the social media sites and create promotions and insensitive to spread brand awareness will reach the target market of the college student. Using platforms such as, Facebook, Twitter, YouTube, Instagram, and Pinterest will connect with the younger portion of our target market to amplify the product. Other websites used in the campaign will be Pandora and Spotify. Both are websites that stream music to the public. Scheduling of ads for Dream Water will happen continuously. Daily ads will come up on both Spotify and Pandora. These ads will run multiple times a day on various stations. The in home advertising will also be continuous for 6 months in highly populated cities. During seasonal times, more ads will be put up in major cities to promote gift giving. 18 Budget In Home advertising will account for the largest sum of money. Advertising in magazines and other forms of print will account for a large portion of this paid section of advertising. Other paid advertising will be the things shown in public. This will include billboards, busses and park benches in large cities. The importance of social media in today’s time is the reason for this platform being the third largest sum of the budget. In fact it could be crucial to hire someone for the job of creating and monitoring social media content. There will need to be a large presence on Facebook, Twitter, Instagram, and Pinterest. With the amount of users on the web today it will also be necessary to spend money in places like Pandora. This will help target the young audiences. Some of the other budget will go in places like the Dreamland Clan Team. This group will make visits to locations like college campuses to spread the word and give samples of the drink. Out home Advertising In Home Adverting print Social Media Web Ads OTHER 19 Summary Dream Water is the non-­‐habit forming natural sleep beverage that consumers need to be aware of. Our first step in making consumers more aware is to branch out into larger cities and see how people in highly populated regions react to the ads. 20 Bibliography "-­‐ Bloomberg." Bloomberg.com. Bloomberg, n.d. Web. 02 Dec. 2013. <http://www.bloomberg.com/apps/news?pid=conewsstory>. "Dream Water | Facebook." Facebook. N.p., n.d. Web. 04 Dec. 2013. <https://www.facebook.com/dreamwater>. "Dream Water YouTube Channel." YouTube. YouTube, n.d. Web. 04 Dec. 2013. <http://www.youtube.com/drinkdreamwater>. "Dream Water's Promises of Deep Sleep Aren't True, Lawsuit in Miami Claims." -­‐ Page 1. N.p., 28 Feb. 2013. 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