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SPRITE- AN INNOVATION

PRODUCT LAUNCH

GROUP 4FAHAD GAURAV SAHAYKAJAL MITTALMANOJ KUMARNEHA SIDDHUNISHI

Sprite – An Innovative Product Launch

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INTRODUCTION

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

success

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IRISH MARKET

Leading commercial beveragesRepresenting 30% of all beverage

consumptionAverage of 751 liters per person per

yearGrown significantly in last 10 years

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

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MARKET RESEARCH

Market research process that links consumers to a company through information and data gathering, involves

Defining research objective

Developing Research

plan

ImplementingThe plan

Reporting on the result

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MARKETING STRATEGY

Is a logic behind achieving objective for a brand

“TO BE AMONG THE TOP 5 “DEADLY” TEEN BRANDS IN IRELAND BY THE END OF 2003”

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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 it’s success

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IT INCLUDES

PRODUCT

PRICE

PLACE

PROMOTION

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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

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Q1- Explain the difference between termssegmentation and targeting

Ans: SEGMENTATIONMarket Segmentation is dividing into distinct group with distinct characteristic or behavior who might require separate product or marketing mixDividing a big heterogeneous market into small homogeneous unit

TARGETINGTarget marketing involves breaking a market into segments and then concentrating the marketing efforts on one or a few key segments.

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SEGMENTING V/S TARGETING

It is concerned with dividing the market

Patterns for segmentation

Preference segmentHomogeneousClusteredBasis for segmentation

It is related with persuading the customers

Mass market philosophy

Select a market nicheNo basis required

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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.

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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.

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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.

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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.

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Q4. CRUTIAL FACTORS

Resolve of contractual issueHelp of market researchMarket-mix

Creative promotional campaign

Target market – teensRival - families

Integrated communication strategyFeedback

Market penetration target

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Q5. Marketing Executive for Sprite

1) 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

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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?

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Brand Values

Memorable Meaningful Refreshing Adaptable Protect able

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Brand Values

memorable meaningful transferableadabtableprotectable

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