Business Plan of a new alcoholic brand.
EXECUTIVE SUMMARY.
The idea of taking cocktails at home instead of going to the bar is quite amazing. Innovation in the industry will help spur growth as alcohol is a widely consumed product and changing brands are usually met with massive consumption. Revelers and alcoholic beverages consumers are usually open to change in alcoholic products. MIXO would prove to be a product of masterful ingenuity among alcoholic consumers as the flexibility and reliability involved are second to none. Reduced trips to the bar though less livelier will curtail the need to travel over long distances and the perils that are involved with drunk driving.
Royal limited is the company behind the new innovation in the alcoholic industry. The company has been in existence for the last 8 years and has extensive experience in the beverages industry. Products commonly manufactured by the industry include alcoholic beverages and energy drinks. The firm is located in Los Angeles. The new innovation is a flagship project that has been in inception for the last 1 year and MIXO is the brand name for the cocktail capsules. Product is designed by a highly trained experts especially chemists who have made great inroads in the innovation of the product. Consequentially Royal limited has the following targets;
Driving innovation that meets consumer’s needs.
Nationwide expansion through excellent products.
START UP CAPITAL.
The business intends to have a marketing capital of $300,000 for the first phase of its marketing strategy. The marketing capital will be channeled to assist in the making of a brand name, advertisement boards and placards.
BRAND STRATEGY.
Business brand strategy includes the use of imagery and a well conceptualized plan that borders on several parameters. The brand strategy includes the use of:
Development of a pricing model- A pricing model that is considerate of the manner in which business is perceived. Prices on the products should be consumer friendly to ensure that the product is affordable to consumers. Prices should neither be low nor too high as low prices are perceived negatively while high prices may keep off consumers but moderate and considerate pricing shall be effected.
The uniqueness of products- product provided are unique as they are not the customary cocktail drinks provided but rather they are innovative and the first of their kind in the market.
Timely and reliable services-since the product faces high competition from products provided in a bar the product should be provided in a timely manner if on order or the access should be reliable as this forms the basic fabric of the product.
Marketing efforts- efforts made at marketing of products should be specified towards achieving the objectives of having a far-out wide reach on consumers especially with the high prevalence of alcoholic consumers. Efforts should also be placed in ensuring that the products provided do not bring out negative mixed messages on the products.
MARKETING PLAN.
Royal limited will incorporate the following marketing plan to enable it market its products:
Marketing tools- tools to be used include pictures and advertisements of the products. Such tools will improve vivid imagery of the products MIXO, sold by the company.
Marketing segmentation- segmentation will involve the division of the product from the main factory base to small retailers such as wines and spirits shops. This will be done in the initial phases to help check the responsiveness of the product in the market. If successful the product can then be rolled out to include retailers such as supermarkets.
PR PLAN.
The public relations plan shall involve various strategies to ensure a wide outreach and improve public outlook will include:
Use of social media and blogs- social media and blogs will help market the product especially among the younger generation that will form the initial target market. Social media tools are effective due to the significant role played by technology in inter-connection of individuals in the contemporary world.
Publication and articles- use of publications and article sections shall be instrumental in providing information to the general population on the product in the market.
News release calendar and promotional items- news calendars can be instrumental in solidifying public relations as the calendar will indicate various features of the products and provide core information on the details of the news release while promotional items such as shirts and caps will be used for the products.
