MGT301 Idea Solution
Thursday, July 08, 2010 Posted In MGT Edit ThisMgt301- assignment#2
“Product Plan”
Pepsi and Coca Cola are market leaders of beverage industry in Pakistan .You are the marketing manager of newly established Beverage Company, XYZ limited and want to launch a soft drink in market. Higher management assigned you the task to prepare a plan for this product. You should prepare your plan by using following table and give suitable comments with logical reasoning.
| Characteristics | Comments | Reasoning |
| Brand Name | 1. The new philosophy could be" Nothing happens until somebody brands something” 2. Branding is more than just a business buzzword. 3. It has become the big art of selling the new product in market. | 1. Brands should be seen as more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer 2. successful branding programs begin with superior products and services, backed by excellent customer service that permeates an entire organization. 3. say if I am able to build a powerful brand, I will be able to create a powerful marketing plan. |
| Target Market | Cafeterias, general stores, small and large plazas , big and small shops , five star three hotels, guest houses parks and all public places , etc . | 1. The Coca-Cola Company when advertising, has a primary target market for those who are in the age of 14- 22 years , and a secondary market for those people who age ranges 22 to 40 years . 2. Coca-Cola's diet soft drinks are targeted at consumers who are older in age, between the years of 45 and 60 who suffers from diabetes mellitus ( suger in blood ) |
| Positioning Strategy | 1. Positioning strategy is the market-oriented and best articulate the competitive advantage within the market. 2. market-wide (or broad-based) or directed at a particular segment (or niche-focused) | 1. By positioning strategy I can create an impressive image of my product in the customers , by doing so they will be more attractive the product and market value of value will be increased. 2. I need to equip company with a wide variety of innovative strategic tools if they are to remain competitive. 2. many companies, ranging from multinationals to niche specialists, continue to see volume growth well in excess of the market average. I should follow their positioning strategy for the successful launching of the product. |
| Price Strategy | Increase or decrease in price of a product has great effect on the production of product . it affects buyers, competitors, distributors, and suppliers and may interest government as well | 1. In the start I should keep the price of the cold drink low , by doing so people will be attracted more and more towards to the new product, but it should be for a short time, after that when the people will get complete awareness about the new product then little increase in the price will not effect on the sale of new product if I will keep the quality of cold drinks up to mark. 2. on the other hand if I keep the price of cold drink very high in the start then , it is very possible that poor response I will get from the market because rich people will be able to buy the product but more than 70 % ( with average income or poor income ) will be unable to buy the new soft drink . Due to which initial introduction at a large scale will be unable. And will suffer loss in the market . so for price strategy it is necessary that I should keep the details of market demand price in mind. |
| Distribution Strategy | for excellent response for the new soft drink from the market , it is necessary fro me to enhance the proper distribution arrangement to the target market. | 1. to introduce the new soft cold drink in the market it is utmost necessary for me to make possible proper distribution of the product to all small and big shop, general stores cafeteria , hotels , parks and in banquet halls . By proper transporting of the product I will be able to get very fruitful response from the market and % of sales and profit will be very high. 2. on the other hand , after introducing the product in the market if the product is not transported in time to the target places then customers demand will not be fulfilled properly and as a result the product will loose its identity and customers will diverge to the other product and I will suffer a great loss. |
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