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The new products division of Palmer Jackson, Inc. , a Cincinnati-based food and beverages manufacturer, successfully perfect a technique for dissolving common antioxidants such as Vitamin E and Selenium into high-glucose beverages. As a result a new line of sports beverages with added benefit of antioxidants occur. Palmer Jackson hired AccuityBrand, a brand consultancy specializing in developing product names and logos, to name and develop creative packaging for this new product.
The new beverage was named Green Ox, and after a short discussion with management, the name was approved.
Now that the name Green Ox was approved by the management Palmer Jackson needed to make several important decisions about the introduction of the new product. Palmer Jackson hired Marketing Studies Incorporated (MSI), a well-respected marketing research firm, to work on this product and to provide some basic competitive intelligence.
Management believed the main competitors of Green Ox were recognized sports drinks and some vegetable juices, most particularly V7 and surprisingly strong interest among those who currently purchase antioxidants in pill form.
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Research conducted by MSI that up to10% of the people who purchased antioxidants in pill form would be interested in obtaining these vitamins and minerals from beverage rather than a pill. The objective of this case is to make a new beverage to compare it to the other old beverages that track record of successful sales in other channels.
This is to test whether the new product is more efficient than the others. Where, the Green Ox successfully perfected a technique to dissolve common antioxidants into high-glucose beverage The campaign we want to launch for the new line of products seeks to distinguish “Green Ox” from its rivals by promoting its antioxidant content.
The promotion will be designed, firstly to drive awareness of Green Ox and its key point of differentiation: antioxidants. We will use advertising for education.
A website will e created which will five all the information about the products ad their benefits for heath and physical conditioning. Because of antioxidants content, Green Ox is a functional drink that is truly different from its competitors. Palmer Jackson realizes that product, price distribution, and promotion decisions for Green Ox all rely on the decisions they make, that all four of the ''P'' decisions are tangled and depend on each other. They feel that the place to start is with some notion of how many flavors of Green Ox they should introduce and at what price.
The problem exist because of the several social trends that the senior management at Palmer Jackson believed might be important in determining the success and growth potential of Green Ox. Some problems that the company encountered are to decide quickly the segment(s) to target, and how the product would be positioned in the minds of its potential consumers. It also needed to decide how the product would be priced to the retailer as well as how many flavors should be introduced. Complicating matters was management’s keen understanding that all of these decisions depended on each other. Alternative identification and evaluation
The company can solve the problem by managing their time in deciding what seems to be the exact target. The company should also be active and responsible enough to know what price and how it will be presentable to the potential consumers. Even in complicated matters the management should be open-minded and they must agree among themselves every decision that they make.
These are the advantages of the product: it has more benefits added to their product than the V7 products; it produces new flavor; even though it’s expensive it is worth it; it is also a good alternative for the other sports drinks. We will use advertising for education. A website will be created which will five all the information about the products and their benefits for health and physical conditioning. The whole campaign will emphasize our competitive advantage. Solution
Conclusion: Palmer Jackson Inc has developed a new line of sports beverages which have the added benefit of antioxidants. They have developed several elements of their brand strategy with the agency Accuity Brands which is a branding consultancy, where there are marketing strategy specialists. They have also hired Marketing Studies Incorporated, a well-respected marketing research firm, to work with the management team. The most important issue for Palmer Jackson Inc is the positioning and segmentation of their new drink, Green Ox. There are three main competitive markets: Sport Drink, Antioxidant & V7 in which Green Ox will compete for market share.
Palmer Jackson Incs New Division Achieves Breakthrough in Dissolving Technique. (2017, Feb 16). Retrieved from https://studymoose.com/green-ox-essay
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