3. NATURE OF BUYING IN THE MARKET “Bubble Buzz” will be a bottled beverage and will be positioned as the only ready-to-drink Bubble Tea product available on the market. The beverage will have a green tea base with enhanced fruit flavors (passion fruit, strawberry and lime) as well as tapioca pearls. It will bring an entirely unique drinking experience to its consumers. It will present itself as a funky and unusual alternative to traditional tea while providing the great taste of authentic fruit juice in an attractive and convenient packaging. This will be a convenient product which will be readily available to quench the thirst of our customers and will also give the nutritional benefits of Tea. The main characteristics of this product will be the hot and cool nature of the product i.e. it can be served as a hot drink as well as a hot drink; in both way it will give the same satisfaction to the customer and there will be no weather constraint for this product and it can be used through out the year.
4. BUYING BEHAVIOUR On his way to school, Sunil knows he is thirsty and he feels the need for something very refreshing. He stops at a convenience store next to the school. Standing in front of all the choices in the beverages aisle, one particular bottle catches his sight. And he instantly recognizes the brand. He knows that this is a bottle of Bubble Buzz, Consumers firstly decide that they are going to have a soft drink. Then they compete brands with each other. Like they compete Coke with Pepsi and Sprite with 7up and team .So the major competitor of PEPSI is Coke. When they motivate to any other brand or on PEPSI it’s in instinct basically that based on messages derive certain feelings.
5. BUYING Role……….. because not only does his other friends often drink it, but he also heard them talk about this brand new product that Coca-Cola just launched. He also previously saw Bubble Buzz ads when he surfed on his favourite websites. He grabs a bottle, and takes a closer look at the nutritive information label. He is very pleased to see that the new drink is more nutritive and definitely healthier than the other soft drinks that were available on the shelves next to it.
6. MARKET SEGMENTS Segmentation variables and breakdowns for consumer market of Bubble Tea VARIABLES Region Nationwide (all provinces and territories) with emphasis on urban / metropolitan areas, and adapted strategies for all geographical groups Density Urban, suburban Age 10-29 years old (teenagers, studying age and young adults) Gender Male and Female Income All under $30,000 Occupation Students; new graduated; new workers; young professionals
7. MARKET SEGMENTS cont… Elementary 4th grade, High school, CEGEP and University Race All: Asian, Black, White, Native; other; with adapted strategy for Asian consumers already familiar with Bubble Tea Home ownership Renting apartment/condo, living with parents (Highly discretionary in personal spending) Personality Brand conscious, anchored in popular culture, inclined for differentiation and sophistication, very tolerant towards multiculturalism and internationalism (open-minded), quick maturation with modern products Lifestyle Most of them dependent on parents, no major responsibilities, highly influenced by peer groups, active life, importance of school, work and social life Benefits sought COMMUNICATION BENEFITS -Nutritional information -Informational text on history of product FUNCTIONAL BENEFITS -Healthier than soft drinks -Convenient, easy to take out PERCEPTUAL BENEFITS -Quality/Premium price -Social standing/good-looking Usage rate Seasonal (peak in summer), daily-basis, weekly basis User status Non-user, regular user (current user through existing bar-shops) Loyalty status None, medium, strong
8. MARKET SEGMENTS Segmentation variables for consumer market of Hot Ice Tea TYPE VARIABLES PARTICULARS World region or country Nationwide (all provinces and territories) with emphasis on urban / metropolitan areas, and adapted strategies for all geographical groups Urban, suburban Climate Northern southern eastern western Age 12-19,20-34,35-49,50-64,65+ Gender Male , Female Family size 1-2,3-4,5+ Family Life Cycle Young ,single married under 18 older Income Under 10,000 and over 100,000 Occupation Professional ,proprietors, clerical sales persons Education Grade school or less high school ,graduate and above Race All (Asian ,Hispanic, black ,white) Generation Generation y Social class Working class, middle class, upper middle class, lower uppers ,upper uppers Life style Achievers and strivers Personality Compulsive ,authoritarian gregarious, ambitious
9. Target MARKET cont… Occasions Regular occasion and Special occasion Benefits Quality, convenience, nutritional User Status Non-user, regular user, first time user Usage rate Light user , medium user , heavy user Loyalty status None , medium , strong Readiness stage Un aware , aware ,interested , intended to buy Attitude towards product Positive, enthusiastic , indifferent
11. DECISION MAKING PROCESS Company is centered on these objectives With the expected growth of the billion dollar ready-to-drink ice tea market, Hot Ice Tea is poised to capture a bigger share of the market with an aggressive marketing strategy: from packaging to advertising. Short Term Goals: Improve market presence by 20% Improve Packaging Improve Shelf Presence Long-Term Goals: World Number One ready-to-drink ice tea Product Innovation PepsiCo /coca cola must continue its innovative research and development strategy to come up with new flavors and products. PepsiCo has extensive research facilities on product improvement. The company can use its resources and professional expertise to come up with new flavors that will suit the continuous demand for healthy ready-to-drink hot ice tea. With aggressive marketing strategy and product positioning, Hot Ice Tea is ready to take the global lead in ready-to-drink tea industry.
21. consumers as well as their parents.To win market shares over our top functional drinks competitor, PepsiCo/coca cola
22. SUGGESTIONS FOR IMPROVEMENT New product introductions The functional drinks market is one that particularly Allows more innovation opportunities and gives greater freedom for creativity in the design, production, manufacturing, distribution, promotion and retailing choices and processes. Brand is attractive to global partners Because of the company’s size (including value, brand name and operating revenues) and wide portfolio base, Coca-Cola enjoys a strong purchasing power over its suppliers, and also attracts large partnerships with various levels of consumer reach (e.g. Burger King, movie studio promotions, sponsorship agreements, etc.). Existing brand awareness also provides an international playing field for powerful marketing strategies.
