The competitive market in Australia is also change very fast with most international companies now trading in the country. This has affected the segmentation of the market and fierce competition is being witnessed currently. With the change completion in the market, most companies have been coming up with new juice product in order to suit the consumer preferences. Tao Ti has been a product that has been doing well in the Hong Kong market. However it is in the class of mixed juices which has been facing a stagnated growth in the Australian market. In order to introduce the product in the Hong Kong market, there have to be strategic approach to the market. To venture into the market there will be need to carry out marketing strategies to introduce the product in the competitive market. The entry strategy will determine how the product will perform. The market strategies will need to have a direct entry in the market rather than merging with other companies. It will also need to have a retail distribution chain to be close to customers and as per the trend in the market. The marketing strategies will also need to brand the product to identify with the health concerns of the customers. This means that it will have to pack the product in a new attractive package which will appeal to the consumer. The price of the product must be adapted to the local market. Price can be set lower than for other products in order to create price competitive edge. There will also be a number of promotions to accustom the product to the market. The marketing strategies will also be revised from time to time to access its effectiveness.
This paper will discuss on the introduction of Telford International Co. Ltd Tao Ti Mandarin Lemon from Hong Kong to the Australian market. The paper will fist look at the Australian market and various marketing issue in the beverage industry. It will then at the various international factors that can affect the introduction of the new product. The paper will then discuss the marketing strategy that can be used in order to help the product to venture into the market. It will look at various components of the marketing strategies and how they will be used.
Description of the product
Tao Ti Mandarin Lemon is a product produced by Telford International Co. Ltd. It is a beverage product which has been retailing in the Hong Kong market for along time now. It is not produced by the company but rather it is a blend of various beverages that the company imports. It has been rated fourth in the Hong Kong market which means it has a large market share in the bevergage category. The product is packages in attractive packages and is sold on the point of its attractiveness to the consumers based on branding and also on the quality of the product. The product has been doing well in the market but introducing it in the Australian market may be a bit tricky since it is in the class of mixed juice which is not doing very well in the market. Therefore there has to be product adjustment to be made to introduce it in the market. (GMID, 2008b, p. 7; GMID, 2008c, p. 2)
Fruit/vegetable juice industry in Austria has been recording poor growth. In 2007, the industry recorded 1% growth. This has been contributed by many factors in the consumers. The consumers have started rejecting nectars in favour of pure juices. This has been the main
The beverage industry has been one of the rapidly growing industries in the world. In Australia, the Juice industry has been changing with time due to the changing consumer preference. Consumers have become more heath conscious and are preferring to use products which have positive effect on their health…
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5 pages (1250 words)Case Study
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