Reference no: EM131474365
Question: The purpose of this individual scenario analysis is to develop your skills in applying relevant marketing analysis tools. This will enable youto apply marketing theories and concepts to a ‘real world' businesscase. The business case is as follows:
"The last several years have seen a proliferation of energy drinks on the market, with brands such as Mother, V, and Red Bull dominating global market share. In recent medical research, however, energy drinks were found to be more harmful than helpful. It has been found that a person who consumes energy drinks on a daily basis is more likely to suffer severe medical conditions such as caffeine overdose, heart palpitations, neurological and cardiovascular defects, as well as poor oral and mental health.
In light of the recent medical findings, the global consumption of energy drinks has started to decline as more and more consumers are becoming health conscious and knowledgeable about the risks associated with consuming such beverages.
To address this change in consumer behaviour, a global company named XYZ has introduced a new type of product in the soft drink market.
It is called the "calm" drink, and it offers a natural concoction of calming remedies that are not only delicious but also deliver many health benefits to the consumer. In the last two years, XYZ Company has gained a substantial market share. However, it has yet to be sold in Australia.
You are now employed by XYZ Company as a marketing consultant. In your new job, you are tasked with conducting a marketing mixanalysis with the prime focus on launching the "calm" drink in the Australian soft drink market."
In your analysis, you will need to address the following:
Product Decisions: Identify the product's three layers (as per the information shared in Week 3). You may use diagrams and charts.
- Create a brand name for the product that fulfils one of the brand dimensions (as per the information shared in Week 3).
- Design packaging for the product. In designing the packaging, you will also need to analyse the packaging considerations relevant to the Australian market (as per the information shared in Week 3).
- Price Decisions: Which pricing objective should XYZ Company pursue in this scenario? Provide reasons for your answer, with reference to the information shared in Week 5.
- Determinethepricingpointoftheproduct,andsuggestthemostsuitablepricingstrategy in this case.
- Which special pricing tactics should XYZ Company consider and why? Provide reasons for your answer, with reference to the information shared in Week 5.
- In preparing your analysis, you will need to reference at least 8 sources of information. These may include corporate websites, government publications, industry reports, census data, journal articles, newspaper articles, and textbook material.