Mkt 571 Week 6
The learning team has decided to develop a product launch plan for the Apocalypse Now bar and Agent Orange mixed drink, with accompanying apparel, in both the Korean and Philippines markets. This product launch plan will address the product description, product positioning, targeting, market needs, market growth potential, a complete SWOT analysis, coverage of the competition, marketing strategy, pricing plan, marketing communications plan, distribution strategy, and a review of all the marketing research conducted. The product launch plan starts with a product description.
Product Description The products that the Apocalypse Now bar will be selling are the Agent Orange mixed drink and accompanying Apocalypse bar and Agent Orange mixed drink apparel. The Agent Orange mixed drink will consist of a proprietary list of several different ingredients and be served over ice in a mug. As an incentive for purchasing the Agent Orange mixed drink, customers will be given a souvenir shirt if they successfully finish the drink. The team decided to use a promotion to start to product launch because the successful “use of incentive-type promotions to attract new triers, to reward loyal customers, and to increase the repurchase rates of occasional users. Sales promotions often attract brand switchers, who are primarily looking for low price, good value, or premiums. Sales promotions generally are unlikely to turn them into loyal users, although they may be induced to make some subsequent purchases.” (Kotler & Keller, 2007) As a result, the team decided that product positioning is critical to the success of the venture.
Product Positioning The team decided to position the Apocalypse Now bar, Agent Orange mixed drink and accompanying apparel as a high quality, customer responsive alternative to the competition. The team realized that “Product positioning involves creating a unique, consistent, and recognized customer perception about a firm’s
Product Description The products that the Apocalypse Now bar will be selling are the Agent Orange mixed drink and accompanying Apocalypse bar and Agent Orange mixed drink apparel. The Agent Orange mixed drink will consist of a proprietary list of several different ingredients and be served over ice in a mug. As an incentive for purchasing the Agent Orange mixed drink, customers will be given a souvenir shirt if they successfully finish the drink. The team decided to use a promotion to start to product launch because the successful “use of incentive-type promotions to attract new triers, to reward loyal customers, and to increase the repurchase rates of occasional users. Sales promotions often attract brand switchers, who are primarily looking for low price, good value, or premiums. Sales promotions generally are unlikely to turn them into loyal users, although they may be induced to make some subsequent purchases.” (Kotler & Keller, 2007) As a result, the team decided that product positioning is critical to the success of the venture.
Product Positioning The team decided to position the Apocalypse Now bar, Agent Orange mixed drink and accompanying apparel as a high quality, customer responsive alternative to the competition. The team realized that “Product positioning involves creating a unique, consistent, and recognized customer perception about a firm’s