Reference no: EM133360582
Delivering the right product, at the right price, at the right time, to the right customer is a marketing challenge that has always existed. In considering the launch of a new craft brewery and the need to describe how to approach creating the positioning in a highly competitive market.
Assuming you are the marketing director for Kitsch Brewing Co. and you are creating the product positioning using the necessary marketing tools.
Right now, there is only the name and tagline. The product you will be brewing and the type of retail operation you will create need to be developed. Marketing is taking the lead in these areas, and you are driving the entire process as Marketing Director. Kindly assist with the following while ensuring in-text citations, paraphrasing, or other academic/reliable literature and resources to back up your points and ideas :
1. State your primary target customer and be specific in terms of demographics and psychographics while also noting to state the most important influence (family, social, etc.).
2. State your approach to assessing the competitive market for craft breweries. For instance, state the number of competitors and the industry's relative size. You could use proxy data, but you need to demonstrate that you can use different sources to try and see how big your market is to determine if there is a profitable target market.
3. State the stage of the product life cycle this industry is in, and based on the stage, help state the implications for Kitsch Brewing to consider.
4. Help outline the types of products you will offer and state how you will use marketing research and environmental assessment tools to guide this new product development process. You should only help to state a general range of the number of products, including the type of container they are in, etc.
Include a recommendation of whether you will have a bar set up, retail sales,
5. Recommend whether you will have a bar set up, retail sales, food service, but please note to only state why or why not food will be available and remember there is a cost for staff, equipment, food supplies, food handling licensing, etc.
6. State your evaluation tools and approach after the brewery has launched and how you will measure success.
7. State the top three Key Performance Indicators (KPI) that you will be tracking.