Answer to Question #164997 in Marketing for Kimberly Megan

Question #164997

Select a conglomerate or group of companies such as Grace Kennedy or Lasco and identify the segmentation bases and variables applicable for three (3) different products or companies within the Group. Recommend appropriate target marketing strategy for these products/companies. Identify the relevant USP being touted by each product and write a positioning statement for each product/company.


1
Expert's answer
2021-02-19T09:30:34-0500

Answer:


Step 1

Strategic Research

  •  We can say that grace has brought a series of qualitative and quantitative studies to expose consumers in Grace’s Caribbean markets to new product concepts including a single-serve juice.
  • Potential positioning opportunities for each concept were identified.
  • From this we get to know that it is single-serve juice emerged as the most promising concept.
  • Whenever grace conducted taste tests on new flavors and measured positioning “fit” between the new product and the Grace brand.
  • We can say that From these Concept and taste testing subsequently were conducted in export markets to assess international opportunities for the new product followed by simulated test marketing.

Strategic Options

  •  As it helps in Focus on the current products line-up and back-burner new product development
  •  As it helps in Extend a existing line, building on the awareness, consumer familiarity, and equity of an already established brand.

 

Step 2

Strategic Choice

  • Usually Grace followed the data and built the single-serve juice concept it had tested into the Tropical Rhythms brand with Copernicus providing targeting, positioning, and advertising consulting.
  • Truly speaking the original concept tested was Grace Juice in single-serve containers, but with new exotic, and tropical flavors. Specifically among key target segments, trial and repeat scores were importantly higher than the
  • average new beverage product.
  • Definitely it is based on the positive reactions to the concept, Grace created a new brand, “Tropical Rhythms,” to address needs customers indicated they had for a single-serve juice: healthy, thirst-quenching with genuine fruit
  • taste.

Performance Results

  • We can say which would be the Canadian Grand Prix New Product Award.

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