Prepare A New Brand Launch Based On Customer Needs ✓ Solved

Prepare a new launch for your brand based on customer needs

From the Marketing Case BWT, each student may consider the case from a global perspective or from their own country’s perspective. This is a continuation of the mid-term assignment. Use the official cover provided on Moodle, table of contents, and introduction. Each question should be clearly identified as a headline and answered as a separate section of the paper. Questions:

  • You need to prepare a new launch for your brand (remember it has to be based on customer needs). Develop and explain the steps of New Product Development.
  • Describe the strategic decisions that you will apply to the marketing mix.
    • Product
    • Distribution
    • Price
    • Communication (IMC)
  • Marketing Plan proposal.

Formalities:

  • Wordcount: 2,000 – 2,500, approximately.
  • Be creative and use pictures and schematic formats.
  • Cover, Table of Contents, References and Appendix are excluded from the total wordcount.
  • Font: Arial 12,5 pts.
  • Text alignment: Justified.
  • The in-text References and the Bibliography have to be in Harvard’s citation style.
  • Upload PDF to avoid Turnitin rejection.

Paper For Above Instructions

In today’s highly competitive market, launching a new product is both an exciting opportunity and a substantial challenge for any brand. This paper presents a marketing plan for the launch of a new health beverage, “Vitality Juice,” aimed at health-conscious consumers. The following sections will explore the necessary steps in New Product Development (NPD) and detail strategic decisions related to the marketing mix: product, distribution, price, and communication (Integrated Marketing Communications, IMC).

New Product Development Steps

The NPD process is crucial for ensuring that new products meet market demands effectively. While there are various models of NPD, the following six steps outline a typical approach:

  1. Idea Generation: Ideas can stem from various sources such as market research, focus groups, and customer feedback. For Vitality Juice, we gathered input from health trends indicating a growing demand for organic and nutrient-rich beverages.
  2. Idea Screening: Assessing the ideas based on feasibility, market potential, and alignment with brand values. Only viable ideas proceed to the next stage.
  3. Concept Development: Developing a detailed concept, including features, benefits, and the unique selling proposition (USP). Vitality Juice will be marketed as a natural, non-GMO beverage packed with vitamins and antioxidants.
  4. Market Testing: Releasing the product in a limited area to gauge consumer response and gather feedback. This could involve promotions at local gyms and health stores.
  5. Commercialization: Preparing for the wide-scale launch, including production, marketing strategies, and distribution channels.
  6. Launch: Officially releasing Vitality Juice into the market through a well-planned campaign that includes promotions and partnerships.

Strategic Decisions in the Marketing Mix

The marketing mix is a set of controllable elements that help to position the product in the marketplace. Below are the strategic decisions we will implement for Vitality Juice:

Product

Vitality Juice will be launched as a premium product with unique flavors like “Superberry Bliss” and “Zesty Green,” made from high-quality ingredients that are organic and sustainably sourced. The packaging will be eco-friendly, appealing to environmentally conscious consumers.

Distribution

For optimal reach, we will adopt a multi-channel distribution strategy that includes health food stores, gyms, organic markets, and e-commerce platforms like Amazon. Collaborations with Fitness Influencers and health bloggers will also enhance visibility.

Price

Positioned as a premium product, our pricing strategy will reflect the quality of Vitality Juice. Competitive analysis indicates that similar products are priced between $4 to $6. Therefore, our target price will be set at $5.50 to balance profitability with consumer affordability.

Communication (IMC)

Our IMC strategy will focus on building brand awareness and consumer engagement. This will involve a combination of social media marketing, influencer partnerships, and public relations campaigns. We will create engaging content that emphasizes the product’s health benefits, sustainability, and lifestyle alignment.

Marketing Plan Proposal

The marketing plan for Vitality Juice will encompass strategic frameworks focusing on customer needs, market analysis, and performance metrics. We will employ the following strategies:

  • Social Media Campaigns: Utilizing platforms like Instagram and Facebook to reach our target demographic, showcasing testimonials and user stories.
  • Sampling Programs: Hosting tasting events at health fairs and gyms to allow potential customers to experience the product firsthand.
  • Loyalty Programs: Implementing a rewards system for repeat customers to foster brand loyalty and increase customer retention.
  • Feedback Loops: Regularly collecting customer feedback to adapt and enhance the product and marketing strategies for future growth.

In summary, launching Vitality Juice necessitates a cohesive marketing strategy that combines effective product development with strategic marketing mix decisions. By understanding consumer needs and preferences, employing thoughtful product design, and utilizing a multi-channel marketing approach, we can achieve a successful product launch and establish a sustainable position in the health beverage market.

References

  • Kotler, P., & Armstrong, G. (2020). Principles of Marketing. Pearson.
  • Schilling, M. A. (2019). Strategic Management of Technological Innovation. McGraw-Hill Education.
  • Brown, T. (2016). Change by Design: How Design Thinking Creates New Alternatives for Business and Society. Harper Business.
  • Ulrich, K. T., & Eppinger, S. D. (2015). Product Design and Development. McGraw-Hill Education.
  • Maxwell, R. (2017). Understanding Consumer Behavior. Routledge.
  • Ferrell, O. C., & Hartline, M. (2014). Marketing Strategy. Cengage Learning.
  • Fill, C. (2013). Marketing Communications: Brands, Experiences and Participation. Pearson.
  • Blythe, J. (2018). Principles and Practice of Marketing. Sage Publications.
  • Chaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing. Pearson.
  • Solomon, M. R. (2020). Consumer Behavior: A European Perspective. Pearson.

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