Reference no: EM133343729
Business Case:
Last test we introduced you to Jenny Walsh who has set up a new craft beer business. It is three years into the launch of her business and she has had good success with you brand of beer called the "The Sour Seed", which is made with Crabapples. There is no other product with its tart (sour) taste profile and appeals to sophisticated craft beer consumers, mainly men 25 to 45, who like explore new beer tastes.
But like many businesses, sales are starting to flatten out with little growth and costs have gone higher for all her ingredients dues to inflation. She is starting to get worried as she needs to continue to pay her bank loans and things are getting tight!
So she has just hired you as a marketing expert to help develop a new marketing plan that gets her business back in growth
Brand Positioning
You realize that Jenny still needs some marketing basics done for the company and the lead brand
Mention a positioning statement for the brand the Sour Seed.
As Jenny looks for growth opportunities for the brand, explain to her what is the difference is between and a line extension and brand extension. Give an example for each
Product Lifecycle
You are discussing with Jenny where the business currently sits in its product lifecycle.
Tell Jenny what lifecycle stage the total business is and why
Pricing
You know you need to get the business more profitable if it is going to survive, so you are looking at different pricing strategies to increase profitability.
First, you need to tell Jenny about three different pricing strategies you can use. Name the three core pricing strategies to Jenny.
What pricing strategy should the business follow and why?
To drive business even more, what short-term pricing tactics could the business implement and explain how it would work.
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