An applicator bottle allows the reconstitution and dispensing of a re-hydrated powdered product. The bottle has a dispenser apparatus detachably mounted on the dispensing end and a spring-loaded plunger apparatus detachably mounted on the distal end with a movable disk defining the distal end of the internal cavity within the bottle. The plunger apparatus includes a telescoping plunger spring-loaded to extend toward the dispensing end and a locking mechanism that will restrain the plunger apparatus in a compressed configuration until released through an external release button. A rotatable, hand-operated mixing apparatus can be mounted on either end of the bottle to provide an aggressive mixing action when needed. The plunger apparatus exerts a mechanical pressure on the reconstituted product to force the product out of the dispenser apparatus for utilization. Clean-up is facilitated by the ability to disassemble the bottle and the apparatus attached thereto.