Product Decisions
The study will discuss about the marketing mix analysis of a new international brand of soft drink that focuses on launching the new brand in Australian market. However, it can be said that the study will put emphasis on the product decisions and pricing decisions of the new brand energy drink.
Three layers of the product
A product has three layers in it which is known as total product concept. In this context, the total product concept of the soft drink brand is consisted of three layers of augmented product, core product and actual product. The core product characteristics include the problem solving benefits of the soft drink i.e. reducing the medical conditions of caffeine overdose, cardiovascular and neurological defects, sugar consumption, etc. The augmented product benefits that the customers will receive on consuming the soft drink are brand equity, innovative product, great price, no side effects, etc (Papadopoulos and Heslop 2014). The actual product consists of styling, packaging, brand name, product parts while combining in delivering the core benefits of the soft drinks.
Branding is an important aspect of the product in terms of customer attraction. It can be said that branding of the product will involve few elements of such as brand name, brand mark and brand equity. The brand name that will be selected for the soft drink will be easy to remember, unique, short, describe product benefits, reinforce the product image, etc. The name suggested for the soft drink is “Tango”. The name is itself a suggestive refreshing taste along with the brand equity of the product. The above elements of the brand name are easily suggested by the brand name. As it is a global brand, hence the name is important for customer attraction (Stock, Six and Zacharias 2013).
The packaging of the product consists of the different types of packaging both in plastic bottles and in tetra pack. The packaging of the product consists of physical protection, enables specific quantities, proper designs, vibrant colors, materials to try, etc. The packaging will be easy in handling types of facilitating, convenience, extend product shelf life. The packaging must be handy and must be available in many sizes. The packaging must facilitate reducing environmental damage and recycling. Health benefits of the products including persuasive labeling, informational labeling, and universal product codes are to be mentioned in the products (Kotler et al. 2015).
Pricing objective
Pricing is a vital objective of the marketer in order to launch the new soft drink brand in the market. It can be said that the pricing is the most important point of the marketing mix of the soft drink brand in the Australian market. It is already mentioned that the brand is new in Australian market. The price of the product will be set in a way so that they can maximize the profitability for every unit of sales of the products. It will be used while defending in the existing market with the other competitive rival brands. Another objective is to achieve a substantial market share in the soft drinks market of Australia after entering into the country (Baker 2014).
Pricing Decisions
The pricing point of the new soft drink brand in the Australian market is intended to create an image in the minds of the consumers of Australia. The decision of the company while choosing the proper pricing strategy will be responsible for creating an impact on the consumers’ decision making process. The company must consider the pricing strategies of the competitors while applying the appropriate pricing strategies. The competitive advantage of the company in order to select a pricing strategy is odd value pricing or charm pricing (Solomon 2014). This will definitely hit the Australian consumers.
Pricing point of the soft drink brand in the Australian market is defined as the prices where the demand of the soft drink is high. With the increase of the demand of the product and the health consciousness of the consumers odd value pricing is appropriate. It is a tactic that will sell the soft drink at $9.99 instead of $10. Customers will be able to perceive the odd value prices that will act as a more attractive part (Hollensen 2015).
In marketing mix place determines how a product would be provided to the customers and how the placement of the marketing would be performed. In this section, marketing of the product needs proper intelligibility of the marketers and there is a need for the entire shift how the product would be addressing in the market. The key element of product placement is its distribution. The placement strategy of a product needs to be ensured with the help of the entire effort of the product. How a product is attained and possessed by the end user also requires harmonizing the remaining product strategy.
The main objective of the placement of the product, i.e. the soft drinks is to be addressed with the help of proper understanding of the existing marketing situation and demand in the market. Use of proper channel and relating the product with the customer need also needs to be devised with the help of strategic placement design. The soft drink and energy drink is going to be introduced to the market of Australia, specifically the major cities of the country. On its first venture, the soft drink is going to be placed in the cities of Melbourne, Sydney, Perth and Victoria.
The marketing placement will also focus on the shopping outlets and the departmental stores. Initially, the placement marketing is going to begin with DFO South Wharf, Spencer Outlet Centre, Kathmandu Outlet Store, Kmart, Target and the Big Ws. The reason behind selecting these places for the marketing is the rush of the people in those stores on a daily basis. It has been realized through a certain discourse of the market that Kmart, target and Big Ws are the leading departmental stores in terms of customer visit to them. On the contrary it has been identified that the Australian retail stores and the shopping outlets loosing the race with the online retailers. Hence, the placement of the product can also be considered through online marketing. Online retailers such as Amazon and Alibaba are going to be targeted for the placements of the soft drinks that would address a greater number off the customers.
Place Decision
The soft drinks is going to offer on the Big Ws, Kmart and Target and other selected small stores and the Spencer Store on July 2017. Free t-shirt with the logo and graphic design of the soft drink would be distributed to the distributors of the company. On top of that a graphic cap would be distributed to the customers at free of cost on the purchase of per 2 liter of bottles. The promotion is only going to last till the month of August.
The image of the soft energy drink is going to publicize the health facts of the drink. This drink does not have any side effect. On top of that the health energy drink is going to address the greater number of customers with strategic messaging system. With the help of the advertisements, the customers are going to be acknowledged with effective stories from direct marketing system.
The objective or goal of the advertisement is to highlight the health and consumption fact of the soft drink.
The soft drink persuades to draw its benefits from the entire market.
Reminder strategy is going to be put into effect in order to continuously remind the customers of the existence of the product. This is going to address the perception of the customers in terms of the purchase of the products.
Since the soft drink is not well known in the Australian market, the company needs to take some effective strategies in order to reach to the greater number of customers. There comes the need of the advertisement strategy. Advertisement of the product is going to be channelized through different media such as television, radio, POP and guerilla technique.
Sales promotion refers to sample programming in the shopping stores and the outlets. In order to draw the attention of the targeted customers the brand marketing would focus on POP advertising technique.
Direct marketing refers to the usage of media so as to directly address the greater number of mass. Different television channels with higher TRP would be devised for the advertising purpose. The prime focus would be on the sports channels.
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Conclusion
It can be concluded that the product attributes and the pricing decisions that are taken by the company will definitely hit the Australian market. Consumers of Australia will prefer the soft drink as it is loaded with health benefits along with a good refreshing taste if marketing mix is done properly.
References
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Kotler, P., Keller, K.L., Manceau, D. and Hémonnet-Goujot, A., 2015. Marketing management (Vol. 14). Englewood Cliffs, NJ: Prentice Hall.
Papadopoulos, N. and Heslop, L.A., 2014. Product-country images: Impact and role in international marketing. Routledge.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Engelwood Cliffs, NJ: Prentice Hall.
Stock, R.M., Six, B. and Zacharias, N.A., 2013. Linking multiple layers of innovation-oriented corporate culture, product program innovativeness, and business performance: A contingency approach. Journal of the Academy of Marketing Science, 41(3), pp.283-299.
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