New Product Launch Marketing Plan Part Assignment

New Product Launch Marketing Plan Part Assignment Words: 878

The past is inspirational, future is aspiration’s. Greatness is all about vision (The Absolute Company, 2012). Through our vision and creativity we have created an all new organic vodka that we will introduce into both the domestic and international market. With our reputable brand, easily recognized packaging, and solid business model that has brought great success, Absolute Element will quickly become a best seller amongst both health conscious consumers and those follow trends and fads. 2. 0 Situation Analysis 2. 1 Market needs

Organic is a word that has recently become the topic of many conversations. People around the globe are starting to desire these types of products from food to alcohol. Organic vodka is quickly becoming one of the number one types of vodka purchased in America (Was, 2014). Organic Vodka sales in other parts of the world are much higher than in the US but this might not be true for much longer. The market domestically and internationally is showing great needs for Organic Vodka. Companies are listening to consumers’ demands and the output for this type of liquor is on the rise. . 2 Market Growth New Product Launch Marketing Plan Part 1 Team B By goober’s There is a high demand tort organic vodka, which in turn means there is a lot to growth potential domestically and internationally. For example, Adagio is a worldwide distributor of alcohol. They currently sell alcohol in 180 countries, including the US. Adagio recently started a new organic division, which has experienced growth from 2012 to 2013 by 28% Just in this division. This is a very good indicator of the growth potential for the organic vodka market. . 3 SOOT Analysts “The overall evaluation of a company’s strengths, weaknesses, opportunities, and wreaths is called SOOT analysis. It’s a way of monitoring the external and internal marketing environment” (Kettle, P. , & Keller, K. L. , 2011, p. 48). Absolute vodka is produced and distributed by Period Richard, known as “the group”. The group operates in the USA, Europe, and the Asia Pacific. Absolute has many strengths. It is premium vodka with many different flavors available. The Absolute bottle shape is unique and recognizable.

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Lastly, their ad campaign has won over 350 awards to date. A main weakness is their massive outstanding debts. Most of their opportunity is in he international market; as it is four times the size of the US market. There are fewer restrictions on trade. The standard of living in the developing countries has increased, providing the opportunity for the brand to grow. Their main threat is the stringent advertising regulations. They will also have to address the rising cost of labor, rise in excise taxes, and the additional costs involved with overseas distribution and production. 2. Potential Competition Competition is known as the existing or the soon to be products that exist in the marketplaces that a buyer may choose to purchase. The organic alcohol business is ever-growing and new companies are sprouting each day. Absolutes main domestic competition at this time, is Ocean Vodka as they are currently the nation’s leader in the industry. Ocean Vodka is available for online purchase as well as in stores in 34 states in the United States. Global Vodka is Absolutes European competition, based in Italy. Their product is targeted for online sales and offers no in store purchases. 3. 0 Marketing Strategy 3. Product Offering and Definition Absolute will develop and distribute an all-natural organic vodka product for striation both domestically and internationally in the online and in store markets. The organic vodka line will be rolled out with a wide variety of flavor selections. The product is 100% certified USDA organic. It is distilled with organic sugar cane which has been blended with mineral water from the deep ocean. The organic vodka is naturally gluten-free, contains no Smog, pesticides, or herbicides. Absolute, will become the industry leader in organic vodka as it will be the only product to be sold in stores around the world. . 2 Product identification Absolutes organic vodka line, known as Absolute Element, will carry the iconic Absolute brand name and logo in the US and International markets. The bottles will be sold in individual packages following flavor and color schemes provided by other Absolute vodka lines for brand consistency. Element’s packaging and pricing will differentiate itself from other Absolute and competitor brands to highlight the natural, organic ingredients along while also meeting the target market’s standards for proof, distillery methods, and taste.

The only difference between packaging in English peaking markets and non-English speaking markets will be in translation text on bottle packaging. 3. 3 Product Justification Vodka, a product enjoyed all over the world, has stood the test of time through various alcohol fads and changes over the years. Absolute understands that there is an increase in interest of natural, clean ingredients in a growing target market and has created an organic product to fit such market in the US and internationally.

Absolutes new product line, Element, fills this need for organic alcohol while also providing a natural, well tasting product under an iconic brand. . 4 Marketing Research Survey 1. How familiar are you with Organic Vodka? Extremely familiar Very familiar Moderately familiar Slightly familiar Not at all familiar 2. Which of the following brands have you heard of? (Select all that apply) Pinnacle Absolute SKY Sunroof Sieved

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New Product Launch Marketing Plan Part Assignment. (2021, Dec 13). Retrieved May 25, 2022, from https://anyassignment.com/art/new-product-launch-marketing-plan-part-assignment-34146/