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Producing Cost $1
Selling Price $2
Profit $1
Manufacturer - retailer - consumer
Manufacturer - events/festivals - consumer
Manufacturer - cellar door sales
Fresh
Penfolds Brand Name
Exciting
Red Bottle Cap
Fun
Manufacturer - sales rep - retailer - consumer
Manufacturer - sales rep - consumer
Manufacturer - cellar doors - consumer
Unique
In Australia approximately 521,000 Sold per year.
Therefore: $521,000 profit per year
Convenient
-Penfolds has the capital to spend money on advertising
Penfolds is a well known brand with large loyalty
-60% will go towards advertising. Why?
-The fortified wine market is in decline and as such we decided it would be financially unfeasible to reposition our apera product.
-We discovered that the RTD market is growing and is projected to grow
-Barriers to entry being high and steady in this market, innovation and large capital support allow the launch of a new, fresh product.
-Identified low to minimal growth in the fortified wine industry
Product designed to be:
Exciting, Sophisticated, Bubbly, Fresh and Unique
Target market: women 25-35 years old whom have:
A disposable income and seek a classy alternative to the usual RTDs.
-Identified that the RTDs industry is growing
375ml
-Penfolds is a multimillion dollar company and therefore has the financial resources to relaunch sherry in a different market
Through calculated pricing strategies, promotions strategies, advertising strategies and distribution channels, Penfolds will educate, inform, create awareness and entice the chosen target markets about its revitalized Sherry product, Euphoria.
-Women 25-35
-Business people
-Seasonal
5% Alcohol Volume
Containing 1.5 Standard Drinks
Awareness
Subscribe to Facebook page
Interest Target Markets
4 pack
Slab
Per bottle
To motivate people to seek more information regarding Euphoria
Why are these the chosen prices?
-Multi-million dollar company
-Strong and distinctive branding
-Prestigious reputation
-Broad selection of high quality products
-No online sales through cellar
-Does not have country wide cellars
-Strong national competitors
Market Trends
SWOT Analysis
Market share
Current growth
A luxury RTD with a sherry base that is mixed with various flavors to suit the season.
Projected growth
Fresh
Exciting
Sophisticated
Bubbly
-To gain a 20% awareness.
-Out of the 20% we want a 15% trial
-Out of the 15% trial we want 10% to buy Euphoria
-After that we want a 5% percent increase every six months.
-Events
-Festivals
-Summer based events and festivals
-RTD market is a high growth industry
-Target market does not have a predisposition towards apera
-Penfolds is a multi-million dollar company and as such can afford to enter a new product into the market
Euphoria
Sherry Based Ready-to-drink(RTDs), drink.
-Propose alcopops taxes
-Cider has rapidly increased in -popularity
-Alcohol consumption within Australia is steady
-Awareness of health issues
-Other RTD's also marketed to our target market
Industry Analysis
The product - target markets
Product development
Objectives and Strategies
Financial
Strategic Marketing
Winter Semester 2013
Edwina Marron 17566527
Sam Burnett 17569193
Marina Naam 17290083
Rongcun Guo 17263235