KNagy GB530 Unit 4 Assignement

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Purdue Global University *

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GB530

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Marketing

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Feb 20, 2024

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docx

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5

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Marketing Plan – Developing Strong Brands Unit 4: Marketing Plan – Developing Strong Brands Kyle Nagy School of Master of Business, Purdue Global GB530: Marketing Management Dr. Bea Bourne 1/9/2024
Marketing Plan – Developing Strong Brands 1 Marketing Plan - Developing Strong Brands   3.4 Positioning  Surge Unleashed will position itself as a premium product by marketing towards the specific needs of its target audience, including overall taste, health consciousness, and quality of ingredients. To evoke nostalgia for the original Surge from the 90s, Surge Unleashed will be packaged in aluminum cans with a retro design. This design will highlight the beverage’s elevated features, including its higher alcohol by volume (ABV), lower calorie content, and zero- sugar formula. To further differentiate Surge Unleashed from its primary competitor, Hard Mountain Dew, it will be offered with a slightly higher ABV and emphasize its superior citrus- taste.  3.5 Marketing Mix   Product Surge Unleashed will be a variation of the beloved soda drink that gained popularity in the early 90s. To accommodate the adventurous spirit of its target market, Surge Unleashed will be available in resealable 16-ounce aluminum bottles, providing convenient access while on the go. Each bottle will feature a nostalgic design while prominently displaying the product’s zero- sugar, low-carb, and no-artificial-coloring attributes. Surge Unleashed will boast an ABV that is half percent higher than the leading competitor positioning it as a premium beverage. These unique features of Surge Unleashed will enable it to charge a higher price point compared to its competitors.  Price To determine the optimal price point for Surge Unleashed, a combination of cost-based and market-based pricing strategies will be used. Surge Unleashed will be offered in 6-packs of
Marketing Plan – Developing Strong Brands 2 aluminum bottles within a price range of $10-$15 and 12-packs of aluminum bottles within a price range of $18-$24. The final pricing decision will be determined by production and packaging costs, the specific state where the product is sold, and the type of retail outlet offering Surge Unleashed. The perceived value of Surge Unleashed will stem from its premium ingredients, exceptional citrus flavor, and higher ABV, catering to its target market of affluent demographics. Given the dynamic nature of the malt beverage market, Surge Unleashed's pricing strategy will not focus on undercutting competitors but rather on aligning with industry standards. Maintaining a flexible pricing approach will allow for adjustments to optimize the price point as market conditions evolve.  Place Leveraging the existing partnership between Coca-Cola and Molson Coors Beverage Company, Surge Unleashed will be distributed through the same channels utilized for Simply Hard Lemonade. Molson Coors Beverage Company has demonstrated success in placing Simply Hard Lemonade within grocery stores and liquor retailers. Utilizing their established distribution network will minimize the costs associated with developing and implementing a new distribution channel. Promotion To maximize the impact of the limited promotional budget, Surge Unleashed will be marketed through a strategic mix of social media, influencer marketing, digital advertising, and partnerships with relevant events. Given the target market's preference for digital platforms, these promotional channels will ensure widespread exposure for the brand. To evaluate the effectiveness of each marketing campaign, a monthly assessment of ROI, conversion rates, and website traffic will be conducted.
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