Final Sprite

  • View
    506

  • Download
    0

Embed Size (px)

Text of Final Sprite

Sprite An Innovative Product Launch

SPRITE- AN INNOVATION PRODUCT LAUNCHGROUP 4 FAHAD GAURAV SAHAY KAJAL MITTAL MANOJ KUMAR NEHA SIDDHU NISHI

INTRODUCTION Sprite is a product of a Coca-Cola Introduced in the United States in 1961 Leading soft drink of Irelands Available in quick service restaurant Year 2000,Sprite launched nationally Extensive market research Innovative approach, leading to success

IRISH MARKET Leading commercial beverages Representing 30% of all beverage consumption Average of 751 liters per person per year Grown significantly in last 10 years

SPRITE Lemon limed flavored Deep appeal to teenagers Preferred profitable niche market Considering teens needs

MARKET RESEARCHMarket research process that links consumers to a company through information and data gathering, involvesReporting on the result Defining research objective

Implementing The plan

Developing Research plan

MARKETING STRATEGYIs a logic behind achieving objective for a brand TO BE AMONG THE TOP 5 DEADLY TEEN BRANDS IN IRELAND BY THE END OF 2003

MARKETING MIX Is defined as a tool that a firm can mix to produce they want in the market It is only by creating an effective mix that great marketing campaigns can be created Marketing mix of sprite is one that determine its success

IT INCLUDESPRODUCT

PROMOTION

PRICE

PLACE

MEASURING SUCCESS Measurement of success through the collection of feedback Sprite sales volume were doubled than that had been budgeted Sprite won 50% share point from key competitors Now they decided to launch larger packs

Q1- Explain the difference between terms segmentation and targetingAns: SEGMENTATION Market Segmentation is dividing into distinct group with distinct characteristic or behavior who might require separate product or marketing mix Dividing a big heterogeneous market into small homogeneous unit TARGETING Target marketing involves breaking a market into segments and then concentrating the marketing efforts on one or a few key segments.

SEGMENTING V/S TARGETING It is concerned with dividing the market Patterns for segmentation Preference segment Homogeneous Clustered Basis for segmentation It is related with persuading the customers Mass market philosophy Select a market niche No basis required

Q2- Define the following:1- substitute product : It is a product which are closely related and can be used in place of one another, they are similar in nature. 2- Niche Market : It is the subset of a market in which a small no of product very closely match the needs of the consumers. 3- Market Share : It is concerned with the contribution towards the total sales volume in proportion to the competitor. 4- penetration pricing : it is the pricing technique of setting a relatively low initial entry price, often lower then the eventual market price, to attract new customers.

Q3.The sprite marketing team formulated a strategy to encourage teenagers to purchase the soft drink over its main rival. Explain five issues this marketing team had to consider to ensure success. Ans. Five issues that marketing team had to consider to ensure success are; 1)Market Report: Reporting of standard of market cover the areas like Financial reporting, health and safety reporting and production reporting, These results, together with finding from other research, could then be used in the creation of an innovative new marketing strategy for the re-launch of Sprite. 2)Focused customer: Sprite indicates that their brand is mainly for young people, They mainly focus on the youth market.

3)Packaging /Bottles: The sprite had a proprietary shaped pack called the dimple bottle, It was decided to concentrate an teen specific packs such as 500ml bottles and 330ml cans during the launch phase.

4)Market Pricing: The main factor that would determine the price of sprite as compare to their competing brands. In the super market stores when the larger sizes packs are sold, such as for 2lt pack various special deals were offered.

5)Promotion Strategy: Distribution as well as the manner in which items are displayed in shop, If the product cannot be seen, they cannot be purchased.

Q4.

CRUTIAL FACTORS

Resolve of contractual issue Help of market research Market-mixCreative promotional campaign

Target market teensRival - families

Integrated communication strategy FeedbackMarket penetration target

Q5. Marketing Executive for Sprite1) Establish effective and strong network of channel-of-sales 2) Promote and raise the brand awareness/popularity of products among the students 3) Information may be gathered by observation, survey, or from already published and available data 4) Knowing consumers views by conducting interviews and field trials 5) By providing samples and receiving feedbacks

Questionnaire/Feedback What type of soft-drinks is most in demand? Which type of consumers consume soft-drink the most? Do you like sprite? Do you buy sprite everyday? How often do you share your views about sprite to your friends?

Brand Values Memorable Meaningful Refreshing Adaptable Protect able

Brand Values memorable meaningful transferable adabtable protectable