Marketing Principles for Calm Drink - Free Samples to Students

Question: Discuss about the Marketing Principles for Calm Drink. Answer: Introduction: The following report is going to succinctly elucidate the marketing launch of a new product that is calm drink. XYZ Company has been venturing the marketing plan in order to place the revamp plan into effect. It has clearly been understood that the global market of energy drink has been losing its effectiveness thus giving way to different forms of soft drinks. The change of market and consumer behaviour pertaining to the energy drinks like Red Bull, Rockstar, Monster and others has been utilised to the fullest and a new marketing plan to attract the customers towards the calm drinks has been taken into positive account. The following report is going to look into the details of the product levels, the consumer behaviour pertaining to the consumption of calm drinks, post sales service provision, the three layers of the product, total product concept, product classification, brand specification, brand strategies and marketing mix. The product belongs to the beverage industry. XYZ Company has come up with a soft drink that is exactly the juxtaposition to the energy drink. Calm drink contains ingredients such as magnesium powder. It is a carbonated beverage that does not allow over does of caffeine materials. The products have anti stress agents such as valerian root tea. As discussed in the board meeting, it has been decided that the product would conceive the name: Sage-Star. Because of the product criteria the name has been justly framed for this particular one. The product name implies the characteristics trait of the drink that would create a positive impression to the customers. chosen product does not imply post sales service to the customers, it does not have any added value to it. Hence, no augmented layer shall be applicable or considered in case of Sage- Star. However, Sage-Star is going to create its own augmented layer by offering the customer write to the service centre pertaining to the grievances they have. The complaints regarding the quality or packaging of the product need to be lodged to the respective customers service centre. In this case the augmented product lies in the form of customer service provision. Branding of the Product: The branding of the product depends on the movement of the market in a particular area. It has different forms of marketing strategies. Branding has different facilities as it distinguishes the product from the market competitions. The brand name becomes symbolic after the success of a particular product (Leonidou, Katsikeas and Morgan 2013). In case of sag- Stars, the branding has been quite effective and it is going to constitute the possible ways of the product description. Product branding facilitates the product in the following ways: In terms of the product marketing the branding helps effectively. The identification of Sage- Star is set to be pioneering calm drink beverage. Repeat sales would take place after the successful first phase of marketing of the product. New-product sales would be considered after the realisation and identification of the current market status. While branding, the company would take well care of the brand loyalty that it should not eradicate the positive customer impression. Relationship between the customer and the product would be considered as the brand loyalty and the company will put effort not to lose the existing bond between the customers and the brand (Huang and Sarigll 2014). Conclusion: Having understood the mode of the chosen market, it can clearly be stated that the marketing policy of Sage-Star will be effective from a certain time as it needs to understand the detail of consumer behaviour and to the consumer reactions to the consumption of the calm drinks. There are other factors as well in regards to the market competition and new entry mode of the product. All these criteria ought to be taken into consideration so as to proceed with the marketing of the product. Reference: Huang, R. and Sarigll, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer New York. Leonidou, C.N., Katsikeas, C.S. and Morgan, N.A., 2013. Greening the marketing mix: do firms do it and does it pay off?.Journal of the Academy of Marketing Science,41(2), pp.151-170. Solomon, M.R., Russell-Bennett, R. and Previte, J., 2013.Consumer behaviour: Buying, having, being. Pearson Australia.