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Transcript of Strategic Marketing
The product - target markets
Objectives and Strategies
Objectives: Convince | Inform | Appeal | Awareness
Pricing Strategy and objectives
Edwina Marron 17566527
Sam Burnett 17569193
Marina Naam 17290083
Rongcun Guo 17263235
Winter Semester 2013
-Multi-million dollar company
-Strong and distinctive branding
-Broad selection of high quality products
-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.
A luxury RTD with a sherry base that is mixed with various flavors to suit the season.
5% Alcohol Volume
Containing 1.5 Standard Drinks
Why are these the chosen prices?
-Summer based events and festivals
To motivate people to seek more information regarding Euphoria
Interest Target Markets
Subscribe to Facebook page
-Penfolds has the capital to spend money on advertising
Penfolds is a well known brand with large loyalty
-60% will go towards advertising. Why?
Manufacturer - sales rep - retailer - consumer
Manufacturer - sales rep - consumer
Manufacturer - cellar doors - consumer
Manufacturer - retailer - consumer
Manufacturer - events/festivals - consumer
Manufacturer - cellar door sales
Producing Cost $1
Selling Price $2
In Australia approximately 521,000 Sold per year.
Therefore: $521,000 profit per year
-No online sales through cellar
-Does not have country wide cellars
-Strong national competitors
-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
Penfolds Brand Name
Red Bottle Cap
Sherry Based Ready-to-drink(RTDs), drink.
-Identified low to minimal growth in the fortified wine industry
-Identified that the RTDs industry is growing
-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.
-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
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.
-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.