Last Chance with the plan to expand its product line wants to enter into the soft drink beverage market. With the new product Spicy Cola the company wants to grab the market with its difference in the product feature. The company primarily targets the Australian supermarkets in Class A category and is not expected to be in direct competition with the similar player of the market like Pepsi and Coca Cola. The new product from Last Chance is mainly targeted towards the young generation for its trendy, cool and active nature and taste of the drinks.
This product differentiation from the company is expected to have huge potential in the market for its unique taste. This research is mainly concerned with the development of the branding plan for the product. For finding the drawbacks of the product qualitative research survey was conducted amongst sample customer to understand the need of the product and its packaging for a proper implementation of the strategy in accordance to the mood, taste and color of the soft drink. The branding plan describes each and every aspects of the launch process from brand name, logo, target market, positioning strategy, pricing strategy, promotion and advertisement and packaging design for Spicy Cola to brand equity management system for the evaluation of the product success after the launch in the market. ...Show more