This is a solution of Unit 3 Marketing Management Assignment Help that describes about Developing business
3.1 Explain how new products in Appy Food and Drinks are developed in order to make sure the competitive advantage is sustained.
Appy Food and Drinks are already a leader in the UK market when it comes to the healthy drinks with vitamins, antioxidants and proteins and natural fruit extracts. When a new product is developed at Appy Food and Drinks, the company has to make sure that it is developing something which does not looks like a duplicate of its own product range or a substitute of the already existing product from the competitors.
The research is carried out to understand the needs and wants of the customers in the market and how that demand could be fulfilled by the new product from the company (Sheng, Zhou & Li, 2011). The new product should have the features which could outsmart the competition. Once the research is carried out, way are found to fulfil that demand. A beta version is prepared and tested on a small segment of the customers. Feedback from these test samples which belong to the different segments decide whether the company should go with the product or some changes are needed in the product development.
Once the product structure is finalized after the sample testing, the cost to the company is analysed and the market plan is prepared. The company has to make sure that the pricing of the new product covers the cost to the company and also able to generate the revenue for the company.
After that, commercialization of the product through advertisements and endorsements is started and the product is made available to the customers. Read more : Computer Vision Assignment Help
3.2 Explain distribution strategies used by Appy Food and Drinks. Think about customers’ convenience and satisfaction in relation to distribution channels used.
Appy Food and Drinks already has the distribution channel which is well established and profitable to the company. In case of the new product “Mint Based Antioxidant Drink” is developed to target the Millennial Customers while the previous products from Appy Food and Drinks were developed for the kids and families. Hence, Appy Food and Drinks needs to find a different distribution strategy for the new product.
The recent trends show that Millennial Customers now focus more on the technology and the company has to keep up with the technology if it has to target these customers. The best thing which Appy Food and Drinks could do for the distribution for the new product is to make the product available to the millennial customers online. Tech Savvy Millennial Customers love to order online through online portals and mobile apps (Schoultz, 2013). The payment is done online the product is delivered at the door steps of the customer. Appy Food and Drinks could also arrange the delivery of the products to the corporate offices.
Another distribution strategy for the “Mint Based Antioxidant Drink” is to make the product available in the supermarkets and departmental stores. Most of the Millennial Customers go to supermarkets on weekends to get the supplies for the whole weak and they could give the new drink a try if they see it near the billing counter.
3.3 Explain how you would set the price for your new product to reflect on your chosen organisation’s objectives and market conditions.
Appy Food and Drinks is an established brand in the UK market and known for its quality products. This kind of exposure allows Appy Food and Drinks to sell its products on a relatively high price. But the competition is becoming tougher in the market which could affect the sales of the products from the company. Hence, a reasonable price would be suitable to have the competitive advantage in the market.
The aim of the company is “to become No. 1 healthier choice for families”, but with the new product, company is also eying on the increasing segment of Millennial Customers (Powers & Loyka, 2010). These are the people who are willing to pay extra for healthy and ethical products. Hence, this is the chance for Appy Food and Drinks is to sell its products to these customers with the promise of quality and health on a slightly higher price.
3.4 Illustrate how your promotional activity is integrated to achieve marketing objectives of your new product.
Since the target customer of the new product “Mint Based Antioxidant Drink” by Appy Food and Drinks is the Millennial Customers who rely a lot on the social media and views of other in their social circle, the Societal Marketing Concept could be adopted to promote the product. Appy Food and Drinks could use the social media (social networking sites) as the primary measure to market the new product and run campaigns on these sites.
Next comes the online marketing through search engine optimisation and paid marketing. Appy Food and Drinks would be using the pay per click facility from Google AdWords which would show the link of the company website when searched with the relevant keywords like Healthy drinks, eco friendly drinks and energy drinks with antioxidants (Murray, Gao & Kotabe, 2011).
Direct marketing is another method which could be used by Appy Food and Drinks to promote the new product. Direct emails and bulk SMS could be used for the same to make the customers aware of the launch of new product.
Celebrity and sports stars endorsements are also an essential element of the marketing campaign of Appy Food and Drinks as they help the Millennial Customers in making a choice when they have many options before them.
3.5 Provide an analysis the additional elements of the extended marketing mix for the new product from Appy Food and Drinks.
Having trained marketing executives and sales people are included in the marketing mix to give the process a more personal touch. These people try to keep themselves in the shoes of the potential customers and think as the target customers. This helps Appy Food and Drinks to identify the exact points which it could pitch to these customers (Luan & Sudhir, 2010). See more : Project Management Assignment part 1
Some of the processes such as customer service, sales process and handling the complaints of the customers are now considered very important when it comes to plan a new marketing plan. After sales services are as important as the other services and Appy Food and Drinks has to make sure that it provides excellent services to its customers.
Physical layout refers to the way Appy Food and Drinks would be presenting the product to the customers. The packaging of the product, its availability in the supermarkets and home delivery options has to be worked out before starting the marketing of the product.
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