36977471-final-sprite (1)
TRANSCRIPT
SPRITE- AN INNOVATION
PRODUCT LAUNCH
GROUP 4FAHAD GAURAV SAHAYKAJAL MITTALMANOJ KUMARNEHA SIDDHUNISHI
Sprite – An Innovative Product Launch
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
IRISH MARKET
Leading commercial beveragesRepresenting 30% of all beverage
consumptionAverage of 751 liters per person per
yearGrown significantly in last 10 years
SPRITE Lemon limed flavored Deep appeal to teenagers Preferred profitable niche market Considering teens needs
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
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”
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
IT INCLUDES
PRODUCT
PRICE
PLACE
PROMOTION
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 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.
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
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 issueHelp of market researchMarket-mix
Creative promotional campaign
Target market – teensRival - families
Integrated communication strategyFeedback
Market penetration target
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
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 transferableadabtableprotectable