Elite vodka’s pricing will be done with the competitors prices in mind. The company aim is not setting elevated prices to indicate prestige or trying to attain its goals by setting the prices too low, that is below, the opponents’ pricing. Rather the company will practice value pricing so that clients feel comfortable buying another bottle (Higgins, 2011). Pricing coupled with the exceptional taste, which makes elite will be a strategy that will make customers buy more. The distributors and retailers will receive at good price to enable hem make a good profit.
Elite Vodka’s distribution will be done through regional and local distributors at the initial stages in order to test the market. The relationship between the firm and the distribution channel entities will be highly valued to ensure a constant product supply to the market (Armstrong, 2012). The company will identify a major regional distributor to collaborate with in order to make the product distribution efficient. The distributors commissions will be substantial to encourage them distribute our product passionately. After six months, the firm will distribute to more states and the second year nationally. This will require partnering with national distributor.
Marketing communication plan
Product marketing is what makes a product well known by the consumers. Additionally, the only way to introduce a product to the market, outdo the competitors and maintain a competitive advantage is through efficient marketing and targeting the right people. Therefore, the company will capitalize on efficient marketing to capture the regional and also the nation at large. Internet marketing has presented a platform that has supported numerous companies to make sales in huge volumes. Recent researches have shown that internet has contributed to even half of companies’ sales. The company’s website will be the major online platform to be utilized by the company (Armstrong, 2012). It will offer essential information regarding the product its pricing and areas where it can be found. The company will additionally market its products through trendy websites online to ensure we reach a huge number of clients. The company’s social media page will also assist in marketing our product: millions of individuals visit social media every minute and using it as a marketing channel will earn the company a considerable reputation. The company aims using mass, differentiated and niche targeting strategies. The company will offer products that is affordable by little income earners, though low priced the product’s quality will be good (Higgins, 2011). Additionally, Vodkas have been a preference to the affluent thus the company will offer a high class, high quality product for them. This will earn the company a name and loyalty to every person. Another important marketing strategy is motivating the wholesalers and retailers by leaving a good profit margin for them, this will be a good marketing strategy since they are the entities who are in touch with the customers.
efficient packaging, improved taste quality, efficient bottling of the produce
couple with effectual marketing, pricing and distribution strategies the demand
is anticipated to be very high. The projected financials will be as follows in
the first three years.
|Year 1||Year 2||Year 3|
|Sales||$20 million||$32 million||$50 million|
|Net Profit before Tax||$10 million||$22 million||$35 million|
|Promotional budget||$3 million||$5 million||$5 million|
|Marketing budget||$4 million||$5 million||$7 million|
promotional and marketing budgets will continue to increase as our sales
increase. The sales will continue to increase since the company will also look
at the national market in addition to export opportunities.
Armstrong, K. (2012). Principles of marketing. Retrieved from: http://184.108.40.206:8080/xmlui/bitstream/handle/123456789/61/Kotler_Principles%20of%20marketing%209th%20edition.pdf?sequence=1
Higgins, L. (2011). Principles of marketing: An applied, collaborative learning approach. Retrieved from: http://www.principlesofmarketing.com/Full.pdf
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