Joosh (organic fruit juice)
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The document outlines Team CrestMark's marketing plan for a new mango and mint juice called "Joosh" which includes sections on product overview, pricing and distribution strategies, product and communication strategies, segmentation and positioning, competitor analysis, and ATL/BTL communication approaches. The plan provides details on the product, target markets, pricing, distribution channels, promotion and advertising tactics to introduce the new juice product.
Joosh (organic fruit juice)
- 1. Market Plan Report MKT460, Section 8
- 2. Team CrestMark • Shawkat Ali Galib – 1320824030 • Salman Nusrat – 1320758030 • Wahidul Islam- 1230596030 • Farhan Shahriar – 1430663630 • Adeel Anjum- 1321311630 • Mahtab Hossain Khan - 1321135630
- 4. Every product in modern marketing era needs a proper marketing and promotion plan. So our new product of mix of Mango and Mint “Joosh” do needs a proper marketing and promotion plan. Because, these two plans are the best way to get bestselling and consumer preferences in comparison with other products in the market. A good marketing and promotion plan always forecasts the future activities with proper judgmental knowledge. Better prediction ability of the marketer heavily influences the success of the product and way to survive in the modern competitive market.
- 5. Product Overview Product overview includes categories of product, raw-materials of product and also the nutritional value of the mint and mango juice. Categories of products: There is only one (1) size of juice we are proposed for lancing. They are: Ø Normal Pack (250ml)
- 6. Product Overview (Continued) Raw materials The main raw material for our juice is fresh mango and mint. The other materials are: • Mango • Mint • Water • Sugar • Vitamin A • Sodium Benzoate • Approved Preservatives • Natural Identical Mango and Mint Flavor • Natural Extract of Mint and Mango
- 7. Pricing, Channel & Distribution Strategy Adeel Anjum
- 8. Pricing Strategy • Cost Plus Pricing • Penetration Pricing • Psychological Pricing
- 9. Pricing Strategy (Continued) • Market price for each bottle for consumers is 19tk/bottle. • We plan to sell at a price of 15tk/bottle to territory distributors. • The price has been decided using cost-plus strategy keeping a margin of 5tk/bottle, that is our budgeted costing is 10tk/bottle, keeping a gross profit margin of 33%. • Knowing the fact that 19tk is not a round-up price, we have kept the price 19tk instead of making it 20tk as part of our psychological pricing
- 10. Channel Strategy The manner by which a product is sold or distributed can have an impact on brand equity. There are some organizations involved in making our product available for use or consumption. A number of possible channel types and arrangements exist, broadly classified into direct and indirect channels. But for our product we have chosen the Winning Channel Strategies which integrates both direct and indirect channels.
- 12. Product & Communication Strategy Wahidul Islam
- 13. Product Strategy • The core customer value • The Actual Product level • The Augmented product level
- 14. Communication Strategy JOOSH is the edgy, healthy, organic drink of choice for all ages and sizes. An effective and successful IMC Campaign can shape the future for our company. We will be using push strategy to communicate and relate with our consumers.
- 15. Communication Objective • Build Brand Knowledge • Providing Information • Persuasion
- 17. Segmentation As our product “Joosh” is a brand new fruit juice in the market, there market segmentation process that behave in the same way or have similar needs. Variables used for segmentation: • Geographic variables • Demographic variables • Psychographic variables • Behavioral variables
- 18. Selecting a Positioning Strategy • Is the competitive advantage distinct enough? • Is it Healthy to Consumers? • Is the competitive advantage truly superior compared to your competitors? • Can you communicate the advantage? • Is it affordable? • Can it be used to prevent competition? • Is it consistent with the brand’s values?
- 19. Competitor Analysis & Differentiation Strategy Mahtab Hossain Khan
- 20. Competitor Analysis • Direct Competitors PRAN FROOTO SLICE SEZAN • Indirect Competitors The Soft Drinks and Carbonated drinks providers like Pepsi, 7UP, Coke, Pepsi and Fanta, Mojo, Clemon, Lemu, etc.
- 21. Differentiation Strategy • Feature: focuses on product’s beneficial traits (usually used for high involvement products) • Competitive Advantages: usually claims direct/indirect superiority to rival brands • Favorable Price: makes the price offer the dominant point of the message • News: makes product/brand related announcement/awards dominate the message • Product Popularity: focuses on the popularity of the product in terms on number of customers, switchers, leadership positions, number of experts recommending it, etc.
- 22. Transformational Ad “Advertising execution is imagery, slice of life, and dramatization” A transformational ad is defined as one which associates the experience of using (consuming) the advertised brand with a unique set of psychological characteristics which would not typically be associated with the brand experience to the same degree without exposure to the advertisement ”gives experience of using the brand/product a shape. It helps to differentiate product/service which is usually done by creating image advertising.
- 23. SWOT, STP, POP & POD Salman Nusrat
- 25. Strengths • First of its kind • Affordable • Location • Employee skills • High Quality
- 26. Weaknesses • Will take time to start business up • Money might be a barrier • Will not have many outlets around to get people to know the business and product • Going into an already existing market • Starting a new business may cause stress to staff members
- 27. Opportunities • Bringing healthy drinks to the suburb areas • To supply more job opportunities in suburbs areas • To move with the current social and lifestyle changes • Capture a healthy market share
- 28. Threats • High barriers of entry • Fluctuating government policies • Hire suitable employee • Weather changes • Intense competition will reduce market share and affect business. • Increasing costs of raw materials. • Threat from other drinks competitors and threat from substitutes like fruit juices.
- 29. S.T.P Analysis • Segments For all people seeking a healthy fruit based drink for regular occasions, parties. Normal households market segment super market. • Target Individuals who want a healthy diet. All age groups Lower, middle and upper class people • Positioning A fruit juice made from real fruits. Guilt free fruit energy boost
- 30. Point of Differences • Natural pulp squeezing fresh fruits. • Provide Vitamins A, C and minerals. • Mango & Mint Flavor Desirable Deliverable Differentiated
- 31. Point of Parity • Affordable Price • Well-designed juice bottle and user friendly • Tasty and healthy fresh juice & chemical free
- 32. ATL, BTL & IMC Shawkat Ali Galib
- 33. ATL and BTL Communication We will be using both Above the line (ATL) and Below the line (BTL) communication. In ATL, we will be using the traditional mass media as a medium to promote brands and reach out to our target consumers. ATL will include TV advertising, print advertising like leaflets, newspapers ad, posters, and wall paintings and so on. Basically, ATL presents message to the target customers and also to the customers who do not belong to the brands target group so, here we can also grab an opportunity to talk to customers who are not out target customers. On the other hand, BTL communication reaches the consumers directly through alternative forms of marketing other than that used in ATL. Example: Direct marketing, public relation will be used to convey our messages.
- 34. IMC Tools • Advertising - TV commercials, leaflets, newspapers ad, posters, and wall paintings. • Public Relation - “JOOSH” will be sponsoring shows such as “AJKER PRITHIBI” “SISIMPURE” “MINA CARTOON” “BTV SPORTS NEWS” which focuses on rural area issues, and rural area people are always interested to watch such shows. • Publicity: We are going to set up mini vans where they are going to advertise our products by announcing it from village to village usually on special occasions like Eid, pohela baishakh, pooja and etc. We will also promote our mango juice by setting up stalls at village weekend huts and also at entertaining places like JAATRA SHOW where huge number of villagers show up. We will also arrange some game shows where we will give away free JOOSH to the winners.
- 35. Conclusion A marketing plan is a plan which outlines a company's overall marketing efforts and marketing plan may be a part of an overall business plan. Building a new brand or product needs huge promotional activities. To introduce a completely new product or brand it needs effective and future oriented sequential steps. In case of this plan all the necessary steps has been outlined in a systematic manner. We showed our product in such a way that is able to grab the attention of the present customers of other products. After reviewing all the variables, we are sure enough that JOOSH is going to be successful in the long run and the company will move to next level within the current market condition. With the full support from our talented marketing team and the executives, the new marketing plan should go off without any major hitches and hit the market when it's hot.
- 36. Thank You ! Any Questions??