Generic Marketing Strategy
Despite the fact that the product is brand-new, its marketing strategy is built on customer acquisition, retention, product realization, and customer happiness tries to hasten the market's development. Additionally, it gives the innovator the chance to leverage the learning curve to increase market share and rule the sector through its low cost. Available through grocery stores, making it simple for customers to pick up. Main promotional and advertising objective is to get a hold of the market among the range of existing products and need to target the base population which is significant in number and attract them with the special pricing and the discounting features.
Marketing Segmentation
The product is solely for consumers who require coffee that has low acid and those that prefer a more natural and roasted coffee.
In order to increase the operating profit per unit, penetration pricing is more likely than skim pricing.
The products are differentiated and thus creating a competitive advantage.
TV commercials, billboards near shopping malls, social media.
Product Differentiation
Puroast coffee as a new product in the market is significantly differentiated, and it has the best position in the market. Besides, it has a sound and steady financial performance in the marketplace.
Dynamic pricing will be utilized. This is a practice whereby prices are varied basing on product availability, market segment and demand.
The hiring of intermediaries to understand the requirements and base issue of the prospect customers.
In order to ensure that no local competitor can compete with its brand, puroast coffee should be protected and authorized. Actual tangible and intangible features of the product.
Brand Positioning
For the growth of the business, a company can follow Ansoff matrix as it combines new and present products. The product is positioned for customers who require both organic and low acid in one product.
The price is lowered by a small amount. In this case, it steadily developed its own niche.
This kind of this innovation of new flavors and product will contribute to the accelerating the model of business augmentation.
The product should be sold in other countries around the world rather than concentrating on home country.
The elements of marketing align with the left-hand column in a way that presents you with a way to find if you are getting a “bang for your buck.” Since this product has always been lower priced, it is good to see where else may have the same product cheaper but maybe come with a free sample or something else. Usually, this brand comes with a free digital coupon, or some other products (Finch, 2012).
Every one of the four P’s matches with the strategic objective that are established in the left column. Usually, people will go to specific department grocery stores for this product if they know they can get something more out of the purchase rather than just buying the single product. I will usually go to the grocery store and get this product since there is usually something free attached to it. For example, during Christmas time, this Puroast coffee usually comes in a gift set, in which you get a digital coupon for free.
I don’t see where this could use improvement because this product is sold in an extensive variety of stores and not just brand specific to a few stores. I think that this assessment would be different by people looking at it in a way that would give them more.
References
Finch, J. (2012). Managerial Marketing. San Diego, CA: Bridgepoint Education, Inc. Retrived from: https://ashford.content.edu
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