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Marketing mix strategy - Essay Example

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Marketing Mix Strategy Table of Contents Recommended Marketing Mix for V 3 Product 3 Price 4 Place 4 Promotion 5 References 6 Recommended Marketing Mix for V Marketing mix is perhaps the most basic and significant concept in marketing. The four major components of marketing mix are product, place, price and promotion (four Ps).1 Each and every organization has to focus on these four components of marketing mix in order to perform well for a long period of time…
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Marketing mix strategy

Various researches show that the popularity of energy drinks is continuously increasing and most importantly they are giving tough challenges to the soft drinks. Over the past few years consumers have become more inclined towards the energy drinks. According to data provided by P&C Nielson Scantrack, energy drinks occupy almost 23% in the entire market of beverages.3 Considering all these facts, Frucor should introduce one or two new flavors of ‘V’ within the next fiscal year. Furthermore, the company should introduce the new flavors in a completely new package. The ‘V-Orange’ can be introduced in a completely newly designed ‘can’ or ‘bottle’. Since, energy drinks are ‘impulsive’ product, attractive cans or bottles should be introduced. Currently, the energy drink is available in the form of 250 ml cans and 500 ml bottles. In order to, go through more into the market, Frucor should introduce more product sizes. ...
In simple words demand of energy drinks is increasing in a consistent manner. In such a situation, the company should not lower the prices so that more profits can be made. However, the company should introduce some attractive schemes. For instance, it can reduce the price by 2-3% in case of bulk purchase. Furthermore, special price can be offered whenever at least three different flavors are purchased together. Place V energy drinks reach the final customers i.e. the consumers through various distributors. There are some big distributors like Metro Beverage Co and Kelly’s Distributors that sells V energy drinks to the retailers.4 The important fact is that V is only sold in the markets of Australia and New Zealand. However, in order to remain competitive in the global energy drinks market in the long run, Frucor should focus on the foreign market. Initially it should target the developing economies like China, India and Russia. Consumers, in these countries are becoming stronger in terms of their spending power. As a result, it is quite likely that the energy drinks will be more in demand in these countries. Frucor should try to form strategic alliances with some of the major distributors in these markets. In fact the company can get itself involved into some joint ventures with some of the local beverage companies that will produce the product on behalf of Frucor. A strong distribution network in the developing nations can give sustainable competitive advantage to both ‘V’ as well as its owner. Promotion In this marketing driven business world, promotion is viewed as one of the most crucial aspects for achieving long term success. The company should focus on online interface to promote the brand V. Energy drinks are likely to be consumed mainly by the ... Read More
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