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New Product Launch Marketing Plan Part II

Autor:   •  October 13, 2013  •  Research Paper  •  1,561 Words (7 Pages)  •  2,093 Views

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New Product Launch Marketing Plan Part II

Organic EnerCane is PepsiCo's latest natural energy drink made with vitamin-enriched sugarcane. Sugarcane is known to provide nutrients that help promote a healthy alternative to other sweeteners; it assists in weight loss, stabilizes blood sugar levels, clears the kidneys and carries a host of various other health benefits (McCaffrey, 2011). In this paper, Team A completes market segmentation for PepsiCo's new product Organic EnerCane. The team analyses target market profiles, consumer buying behaviors, and decision motivators for the new product. Team A also analyses each stage Product Life Cycle and Marketing Mix. Further, product mix including features, benefits, branding, and differentiating characteristics from competitive products are included. Last, the team summarizes packaging, labeling, warranties, and guarantees for the new product and provides a new positioning statement and strategy.

Target Market Profiles

Demographic

Organic Enercane's market segmentation in primary market demographic focuses on health conscious people. Organic Enercane targets all ages, income, and gender. Organic Enercane target Generation Y, Generation x, Baby Boomers, and General Jones through labels sports, and ads with music. Consumer income is not a vital feature due to Organic Enercane's low-price.

Geographic

Organic Enercane will be geographically segmented by advertising in more fast-paced, high-density urban areas rather than rural area. This has to do with the lifestyle most people working in high-density and big cities live in. Another contributing factor is higher population. Organic Enercane would geographically segment a product in countries or regions with higher temperatures because Organic Enercane is better tasting when cold.

Psychographic

Psychographic segmentation refers to market segmentation of socioeconomic status, values, attitudes, and lifestyle groupings. Social class is not an issue when it comes to Organic Enercane because anyone will be able to purchase a can from the local shop or gas station at a reasonable price. Consumer interest in Organic Enercane are those individuals who work long hours, work hard, and don't sleep enough and will be inclined to purchase Organic Enercane because of the practicality and health benefits.

Behavioral Variables and Decision Motivators

Behavioral segmentation allows companies to group customers and buyers into segments, according to the benefits they seek from the product. Occasion status is when customers can be group according to the occasion when they get the idea to purchase an Organic Enercane. Organic Enercane will be consumed before work and any other part of the day when an

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