Develop one set of strategies that would apply

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Reference no: EM133530392

Question: They have introduced three new products within the category called Enhanced Water, a category of beverages that are marketed as water with added ingredients, such as natural or artificial flavors, sugar, sweeteners, vitamins and minerals. Most enhanced waters are lower in calories than non-diet soft drinks. The details can be found . They have three lines within the enhanced water category: Karma Probiotic Water, Karma Wellness Water and Karma CBD Water. All three lines are similar and hence you can develop one set of strategies that would apply to all the three lines.

Target Market: Millennials and Gen Z. These customer groups have discriminating taste when it comes to soft drinks. They are health conscious, active, social and believe in sustainability.

Positioning of the Product: The product is positioned as healthier options against sugary soft drinks, high caffeine energy drinks and bland bottled water.

Marketing Budget: Being a small firm they have a limited marketing budget. However, at this stage you should not consider budgeting because we first want to see the plan's detail and decide about the budget later and seek funding from external sources accordingly. (Note: Please also note, due to the short duration of the summer course, the budgeting part has been excluded from this project)

You will act as a marketing consultant and report on your plans for the 4 Ps of marketing as listed in the following rubrics:

(For product strategies, levels mean channel of levels -level 1 is DTC, level 2 delivers to retailers, and level 3 delivers to the wholesalers, who will sell the products to the smaller retailers such as gas stations.)

(For the pricing strategies, the top 5-7 strategies for the new product and give examples of why)

(For the promotion strategies, IMC tools are advertising, sales promotion, public relations, personal selling, and digital marketing. and explain which one is better pull or push strategy )

Reference no: EM133530392

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