This sample will let you know about:
- Discuss about Development of a new brand.
- Discuss about of various brand components.
Brand management is a process where there is maintenance and development of a brand that s helpful in making positive results. It is a process that involves various factors such as cost, customer satisfaction and competition in the market. In present report there is a brand that is developed and launched in beverage sector named as “AloPlum” juices that has to be launched in London initially and depending on its success it will be launched in other cities. This is a new brand category that is being launched and it has many benefits such as main differentiation of this brand is it consist of combination of different fruits but alovera and plum are two common ingredient present in every combination (Reed, 2018). Present report discussed various aspects such as consumption trends, major competitive brands, identifying market gaps and various new opportunities. Further there is explantation of market gaps and brand graphics followed by a marketing plan for the new brand that has to be launched.
Consumption trends and major opportunities
Revenue in the juices segment is amounted to US dollar 2,823m in the year 2020. further market is also expected to grow by 0.8 percent in coming years if 2020-2023. this figures has lead to entrepreneur getting attracted towards these sector (van Zyl, Meyers, and Rybicki, , 2017). Consumption trends of people in UK are completely changing with growing concern for health there has been a complete shift way people are willing to live a healthy lifestyle.
Approximately half of young population in UK is preferring to drink juices at least once in a day time. Younger consumer are willing to buy juices instead of aerated drinks reason behind the sugar content in such soft drinks. There has been lot of experiments which exiting juices are doing in terms of adding more smoothies, combination of vegetable juices to existing ranges. These are less sugary options with high nutritional content in it. The plunge of fruits and vegetable salads to positive results if used regularly by people.
Such aspects of juices are appealing customers especially millennials. Further, us eof exiting flavours and adventurous are attracting more people towards such beverage brands. Get Assignment Examples.Talk to our Experts!
Major competitive brands & market situation
There have been many competitors of juices brand in markets of UK. In these major competitive brands are Innocent, Innocent smoothies, Tropicana juices, Tesco, Sainsbury's, Asda, Morrisons, Copella etc. all these brands are making healthy fruits and vegetable smoothies.
Market scenario is such that statistic published by Statistical research department in July 2019, there has been a ranking done of ready to drink fruit juice sand in that there has been disclosure of figures such as 6.1 million consumer are using innocent juices. People of UK are also consuming more than a billion litres of fruit juices in year 2015 which is way higher than it was since year 2010. other residents in UK are consuming approximate 17.6 litres of nectars and juices in year 2015 which is a slightly lower since year 2010. (Consumer market outlook, 2020)
In case of market situation, it can be said that consumers are having a sense of experimentation with various new flavours & are having increase concern about their overall sugar intake and caffeine ingredients present in packed juices (Kaye, , 2019). There are two main ingredients such as ginger and turmeric that can help in increasing overall nutritional content of a particular juice.
Analysis of major brands in sector & positioning maps
Firms are using positioning maps for development of a positioning strategy for a particular service or a product (Arvidsson, and Caliandro, 2016). Maps are based on perception of buyers and are sometimes regarded as perpetual maps. These positioning maps are useful in case of exiting services and products to be positioned or in case there is launching of a new product. Aloplum is a new brand in beverage sector in London, UK.
Therefore in present scenario, the position of product is in the second quadrant of product positioning map where the product is of high quality and price is low as compared to similar juices brand such as Innocent, Tropicana etc. in initial stages this brand is willing to establish themselves with a good taste and in reasonable prices fir this organisation is willing to launch their products at affordable price range so that cost leadership can be attained (Pappu. and Quester, 2016).
Development of a new brand
In present scenario, there has been a new brand launched in beverage industry named as Aloplum. Brand development is a process related to creation and strengthen of brand in a professional way (Huang, 2017). This is basically divided into three phases such as first phase is getting brand strategy in a right manner and its alignment with overall business objectives. Second phase is development of all tools needed for making communication related with tag line, website and logo. In the third and final stage there is strengthening of newly redevelop brand in the market where customers are being targeted. Brand development strategy is all about how above discussed task are being accomplished by management of organisation.
1. Consideration of overall strategy: A strongly developed brand will help in growth of a form in a easier way. Major strategy for Aloplum is that they are willing to attract people by their amazing taste and fruity combinations of alovera and plum.
2. Identification of target clients: In Aloplum target market is of people who are having high preference for a combination of a option of health and amazing taste (Chinomona, 2016). It is a tool that can help in serving a totally different segment of customers.
3. Researching of target clients: In this step Aloplum is going to research their target market with the help of primary researching methods such as questionnaire will be used for the purpose of understanding various unique combinations that are being preferred by the target market.
4. Brand positioning: In this step Aloplum will be trying to figure out position of their brand with help of tools such as product positioning map. In this two major factors that are quality and process is used to identify product position of Aloplum. It is a product having high quality and affordable practices hence, falling in third quadrant of this map.
5. Development of a messaging strategy: in the fifth step there is a messaging strategy that has to be developed by Aloplum where communication has to be mad top target segment of market. It includes millennial generation, kids, gym freaks etc. all these are segment of customer have to be approached with help of online sources such a campaign has to be started where online questionnaire will be filled by such people. Further, digital media platforms Instagram and Facebook will be approach by creation of attractive pages for making customers more aware of products speciality of Aloplum.
6. Development of name, Tag-line and logo: In this step there has been a development of logo which will be combination of alovera and plum, Tag line of Aloplum will be “A moment full of healthy sips” completely reflect the way nutritional content of Aloplum.
7. Development of a content marketing strategy: In this particular strategy there will be development of a content based on which marketing of Aloplum product will be done. This is a approach completely different from traditional ways of marketing where a specific content will be used by marketers that highlights in detailed overall benefit and differentiation of this brand for their customers. In present case of Aloplum, there is content full of benefits of plum as they are excellent sources of minerals, antioxidants, fibre and vitamins (Black, and Veloutsou, 2017). They also reduce risk of chronic diseases like cancer, diabetes, osteoporosis and heart diseases. Also, benefit of alovera will be highlighted that is reduces wrinkles, dental plaque, lowers sugar level of blood, improves skin texture and ads glow. Overall benefit will be highlight to make this product more relevant for the target customer's.
8. Developing of website: In this step a e-commerce website of newly launched brand is developed to increase their customer reach. In Aloplum initially there will be supplying in few existing grocery stores as ether will be no investment done on opening a new store (Balmer, 2017). After a successful customer response this strategy can be adopted. Hence, presently there will be development of a website where all the range of product will be available for customers with very exciting offers to attract people to at least give the new brand a try.
9. Building up of marketing toolkit: In this step, various marketing tools that will be used by a company have to be highlight in detail. Such as Aloplum will be using a a one page sale sheet that will be used for describing overall core offering and key areas of market that are being served by this newly lunched brand.
10. Implement, track & adjust: In this last stage finally the brand has to be launched and all the planning done above has to be implemented by the management. After that Aloplum will be tracking what have been their present performance level with desired standards any deviations have to be recorded so that they do not occur in future course of business. This can be done only after passing a reasonable amount of time usually a period of three months is recommended.
Identification of market gaps & opportunities for new brand
Market gaps are basically referred to as customers needs that remain unmet. Such gaps are very helpful in development of new opportunities for a entrepreneur (Bagozzi, Batra and Ahuvia, 2017). In Aloplum, this market gap of a healthy and tasty option of packaged drink has been identified and will be fulfilled by use of preference of changing lifestyle of people towards healthy foods and drinks.
Explanation of brand graphics
Brand graphics are related with overall visual image of a particular brand. This is a very important source for attracting customers toward a new brand. Brand graphics have to be designed in such a way that it is bale to attract maximum customers by its colour combination. Also at same time it able to convey overall tag-line in most unique and creative manner. In Aloplum brand graphics will consist of a combination of alovera and plum fruit so that nutritional capacity can be identified with the help of logo itself. There will be green and plum colour used in all their bottles no matter Whatever juice content is present in the bottle.
Slogan of the brand will be “ A moment full of healthy sips”
Packages of Aloplum will be in glass bottles, plastic bottles in small portable packages, cans that will be recyclable and beverage cartons that consist of large quantities of juices.
New communication strategy
Brand communication Strategy is all both understanding of customers, creating of right message and making that product is present on right channels. That are approachable as wells a influential enough for the target segment of customers. In present scenario, of Aloplum this organisation will be making strategies of how to make effective communication to establish themselves in market. In such case, there will be strategies used for making effective communication such a attractive page will be crated on Facebook where people who are health conscious will be approached. Instagram will be also used as a platform for following people and making them attract by highlighting of all nutritional capabilities of the juices. Apart from this attractive hoardings, free samples stalls will be displayed on highly crowded areas such as public parks, outside of gyms where there is presence of target customers to communicate the message in a more effective manner. Order assignment help from our experts!
Discussion of various brand components
Brand identity:Brand identity consist of various elements such as design, colour, logo of particular brand that is making the brand different from various other brands dealing in similar products. In case of Aloplum, the combination of green and plum colour of their bottles of glass in which juices will be packed will make this brand different from existing products.
Brand image:Brand image is the perception of a particular brand in minds of target segment of customers. It is relayed with overall ideas, beliefs & impressions for target customers. In Aloplum is newly launched brand hence, customers have no perception of its products. So, management has to make more efforts to create a positive perception in their customers, high nutritional content of Alovera and plum has to be used for purpose of creating a positive image of this brand.
Brand positioning: Brand positioning is related to the place where a person wants to Create a image of their products in their customers mind. In Aloplum, aim of this brand is to maximize relevancy of their product for their customers by increasing overall brand value. It can be done with the help of making people understand high nutritional content of alovera and plum with other fruits and vegetables (Arvidsson and Caliandro, 2016). It will help them in getting a distinctive advantage.
Brand Equity: Brand equity is regarded as overall value that a brand derives from perception of their target segment of customers in the market. In Aloplum it is a newly launched brand hence, they are working on build up a brand equity. Overall prices and differentiation strategy will be adopted to build brand equity. There is need of a particular course of time for achieving this brand equity as there has been already presence of many competitive brands on this industry of UK.
Recommendations on how brands have to be managed in coming period of three years
Marketing plan is basically a report that consist of feasible of marketing strategy made for a specified period of time. There will be some challenge in form of exiting competitors availability of option of fruit juices for dealing with such challenges below discussed steps can be sued by Aloplum juices. Various elements that are part of a particular marketing plan recommended for Aloplum for managing their brand in coming period of time is discussed below:
- Overview of advertising objectives: In this a basic understanding of overall advertising objectives are decided. Such as Alolplum has marketing objective to make customers are of their newly launched brand and how it is different from presently available products in the market.
- Description of present position in market: In this present market position is asses and analysed by marketers. In Aloplum it is a completely new brand hence they do not posses any market position instead they have to create a market position in coming period of time.
- Deciding of a time frame: In this step a particular time period is decided in which whole marketing plan has to be implemented. In Aloplum a time period of three years is decide by management that can help them in building up a significant position in market (Arvidsson and Caliandro, 2016).
- KPI: Key performance indicator are those that will help in making assessment of success of marketing plan in achievement of laid objectives. In Aloplum key performance indicator will be satisfaction of customers that can be assess by distribution of samples at public places to understand customer creations, sales at end of first quarter and demands of product by stores where the product is distributed.
- Description of target market & customer needs: In present case, target market has to be described and their neds have to be assessed in detail. In Aloplum target market is of people who are looking for some healthy option in packed juices and at same time in affordable range. Further, needs will be identified by use of questionnaire as a method ODF primary research by management of the organisation. Ask for Academic Writing Service from our experts!
Above discussed are some of the steps that can be considered by a organisation for effective management of brand in coming period of three years.
From above report it can be said that there are many aspects of concept of brand management that are related with how a newly launched brand has to be managed effectively. For this brand development process has to be considered. Various concepts such as brand equity, brand positioning are used for assessment of a brand. Further brand management plan is very helpful in management of a newly launched brand in market.
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