PACE Designing A New Product Service Exercise Marketing Program Answer this question regards to the topic of this document: How will consumers find out ab

PACE Designing A New Product Service Exercise Marketing Program Answer this question regards to the topic of this document:

How will consumers find out about it?
(Promotion)

Specify methods used to inform and generate word-of-mouth, trial, adoption and repurchase.

It should be half pages long.

this is about a new product line of red bull.

Please read the information on the 1st and 2nd row and answer the third one carefully! DESIGNING A NEW PRODUCT/SERVICE EXERCISE
MARKETING
PROGRAM AND
POINTS OF
DIFFERENCE
What is it?
(Product/Service)
YOUR MARKETING ACTIONS
The group will work to improve the health line products of Red Bull. We will create a
division unique called Red Bull Health who has the goal revamp the Red Bul Total
Zero and Red Bull Sugarfree. Besides this, the new line will release a new product
without sugar, artificial sweeteners, and synthetic caffeine, called Red Bull Natural.
Specify features,
benefits, form, size,
location(s), market(s) Currently, the brand offers more than fifteen types of distinct beverages. But there
served, distribution & is one demand from of customers that the Red Bull cannot delivery yet: Natural
sales requirements, etc. products. Researches show that consumers are gravitating toward healthier, simpler
and Explain why needed. and more natural products. These consumers affirm are willing to pay for natural,
organic, and GMO -free products.
We propose to bring Red Bull’s energy drink to the stage where it offers all of the
benefits that it currently does – i.e. energy thrust, flavourful beverage, sleep
fighting, surpassing oneself – and combine those with more natural, cleaner and
healthier elements. A turn to a more transparent label with less artificial ingredients.
The aim to offer to the customer everything that they already like about Red Bull
but with more benefits to their health. The second goal is to achieve a steady
increase in market penetration by also attracting a new audience. This audience is
presumably one that is more health-conscious and cares about their well-being. Our
initiative will attempt to appeal to the growing needs of those customers that read
the labels and ingredients of products and crave an energy boost that does not take
a high toll on their body.
A product with natural formulation might gain older consumers and women. The
main target market will remain the same and include US customers, under 50 years
old who buy Red Bull’s products from supermarkets, convenience stores and gas
stations.
How much will
consumers pay for it?
(Price)
Specify and explain
pricing through the
channel of distribution.
An especially important comparison between price and brand was held in 2016 in
the United States market. Its findings were that a significant amount of consumers
(60%) consider mostly the brand, instead of the price, to be the most important
factor when purchasing energy drinks. This indicates that energy drinks consumers
tend to be more sensitive to marketing schemes regarding the brand’s meaning and
reason of existence. An especially lucrative opportunity can emerge with the proper
marketing tactics.
Because of this, brand-new Red Bull Natural will be sold at the same price that Red
Bull Original is being sold, at around $2.99 – $3.19 on average, per 12 oz. can. We
propose that the company introduce a suggested retail price (SRP) of $3.
How will consumers
find out about it?
(Promotion)
Specify methods used to
inform and generate
word-of-mouth, trial,
adoption and
repurchase.
Where will
consumers buy it?
(Place)
Specify types of
retailers and other
potential intermediaries.
Do competitors or
substitutes exist? Might
they arise? How & Why?
How different is the
product/service from
other alternatives (direct
& indirect competitors)?
Describe and explain
how the product/service
can be differentiated
from other alternatives.
(Points of
Difference)
Specify how the
product/service is
superior to competitors’
offerings.
Focus on the 4Ps,
Environmental Factors,
Strategic Alliances,
Customer Relationships

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