Marketing Project - PARTS 2 & 3
Part Two will be a detailed script covering the elements 1-7 below for a maximum length 8-minute YouTube video. The script must be written as a GoogleDoc or GoogleSlides. Each member of your team must have at least one speaking part (element) but no more than two speaking parts.
Part Three will be a video submission through YouTube. The link must be provided via CourseMessages.
Each person needs to be visible and participate in the video and introduce yourself.
You must select one of the following for the format of your presentation:
? You are a consultant/analyst team analyzing the product/company. Make recommendations accordingly
? You are a brand manager team and looking at the material as if it is your own company. Make recommendations accordingly
1) Classification of products
a) Is your product a good, service or idea? You should use the goods-services continuum (Pg. 300) to help you classify the product.
b) In what category would you place your product: convenience, shopping, specialty or unsought?
2) Type of new product (German)
a) How would you characterize your product when it was introduced in terms of its innovativeness (continuous, discontinuous, dynamic, etc)?
b) How did the degree of innovativeness of the product impact how the product was first marketed?
A) When Sierra Nevada Pale Ale was introduced it was a dynamically continuous innovation. Many people were used to watery type beer and not a hop flavored beer. Within time, many people came to like the taste and the pale ale became popular.
B) The hops were the final piece to the recipe that gave the pale ale its signature pine and citrus aroma. There was not much impact on the way the pale ale was marketed. Marketing was done solely by word of mouth. There was not much marketing done in the early stages of production. Ken Grossman believed craft drinkers were after variety and new experiences that helped his product grow.
3) Managing the product (Kohlden)
a) Where is your product in terms of the product life cycle?
b) Use the graph on page 268 (Figure 11-2) to describe how the stage of the life cycle impacts your product in terms of marketing activity
c) Does your product have a brand personality? Describe it
d) How has your product created brand equity?
A) In terms of the product life cycle, Sierra Nevada Brewing company is in the growth stage.
B)
The growth stage of our product impacts five marketing objectives; Competition, products, price, distributors, and promotion. In terms of competition there has been a surge micro breweriesentering into the market. In response, Sierra Nevada continues to make new products and versions. Gain market sharing is our marketing activity in terms of pricing. Sierra Nevada continues to be innovated and improve on customer relations.
We also look to acquire smaller companies to add to our market share. Our distribution has grown since opening two other breweries in North Carolina and in Illinois. We look to expand our distribution further into Europe as well. Since the surge of competition, our promotion strategy has been the focusing of our differences of our competitors. In other words why we stand out from all the other breweries.
C) Sierra Nevada does have a brand personality. Starting with our label it's a distinct green that stands out amongst the rest. Sierra Nevada is in black with a gold background, along with a painting style landscape of the Sierra Nevada mountain range. With a detailed bottle like our own, it has a personality of someone that may enjoy the outdoors or something different and new. Our product in general has formed a personality of sophistication and adventurous.
D) Brand equity requires customer loyalty, fortunately Sierra Nevada has developed loyalty with customers. We accomplished this by constantly producing quality products. This has allowed us to charge more for
4) Pricing strategies (Kohlden)
a) How is your product priced compared to the competition?
b) What type of pricing policy did your product use: penetration pricing, prestige pricing, odd even pricing, target pricing, standard markup pricing, etc.
5) Channels of distribution
a) How would you describe the distribution channel for your product (direct channel, type of indirect channel)?
b) Does your product exhibit intensive, exclusive or selective distribution? Describe why your product was classified in one of the categories above.
6) Marketing communications/IMC (German)
a) Describe the product's current Integrated Marketing Communications campaign
b) Does your product use a push or pull strategy...or both. Describe.
A) Sierra Nevada Pale Ale's current integrated marketing communication involves loyal customers as repeated purchasers, hosting live events, word of mouth and limited TV commercials. The company's strategy has been to let people know they way they do things. They have taken pride in advertising their handcrafted beers and paying attention to detail while crafting their beer.
B) The push strategy the brewery uses is setting up several distribution channels to reach several consumers. Distributors are located in several states like Alaska, California and Florida. The pull strategy for Sierra Nevada Brewery started off by selling beer off the streets. It also used word of mouth to get to consumers. Now that the company has grown,it uses strategies like Oktoberfest, Beer camp and other live music events.
7) Promotion
a) Provide at least 5 examples of promotion from the five promotional elements: advertising, pr, sales promotion, personal selling, direct marketing that your product uses.
b) Why is your product using these specific promotional strategies?
c) What, if anything, should your product be doing differently in terms of promotion?
Attachment:- Marketing Audit.rar