Research Proposal on "Product to Market"

Research Proposal 5 pages (1582 words) Sources: 2 Style: MLA

[EXCERPT] . . . .

Wine

There are six steps for planning the successful launch of the new Esteem wine. These steps are situational analysis, alternative goals and plans, goal and plan evaluation, goal and plan selection, implementation and monitor and control. First we shall describe the product.

Simply put, this is a wine. It is made from grapes, which are then fermented. In this case, the wine is low end, made from grape juice that has been purchased in bulk. This will not be reflected on the label, but the label will also not hide the fact that it is not a high-end, estate-produced product. As is customary in the wine industry, the product will be marketed more on the basis of the label and price point than by the quality of the liquid. Wine consumers tend to judge wine in broad terms along a like-dislike spectrum or they judge by the price of the bottle, a phenomenon more prevalent among females (Gervitz, 2009).

This wine is not unique. There is no particular reason why consumers would prefer this wine to the thousands of other wines on the market. This is the challenge for the marketer, to create the impression of uniqueness and develop a compelling proposition that would lead to purchase and brand loyalty. To make this happen, I have assembled a team of managers.

The first manager is the production manager. We need to ensure that we have a product that will appeal to the taste buds of our target market. This will involve significant experience in juice selection, fermentation and blending. The production manager will work with the marketing manager to find out the key characteristics that drive repeat purchases and ensure that Esteem wine has these characteristics.

The second manager is the marketing research manager. The key success driver for this project will be to understand the target market best. We have established that we wish to target females in the 35-45 demographic, white and middle class, and we want to build an aspirational product around that demo. Thus, we must understand this market and the triggers it has for wine purchase in our label and marketing design, plus the flavor and aroma components will drive repeat purchase.

The third manager will be the advertising manager. Armed with an in-depth customer profile the advertising manager must create a series of print ads that define the brand and will lead to purchase. Working with the advertising manager is the art manager. This individual will be responsible for the label artwork, and the art design of the ads. The art manager will also guide the design of the bottle and the visual look of all POP promotions. It is important to have one person in charge of visuals so that we have a unique and consistent look for our promotions.

The fifth manager will be the distribution manager. This individual will be in charge of managing our distribution chain. This role will ensure that our target market will be able to find the product when they go to make the purchase. The distribution manager is critical because of the vagaries of the three tiered system. Working with distributors in every market is a complex task that requires its own manager. The final manager will be the sales manager. The sales manager will target large retail accounts. These accounts -- Costco, major grocery stores, Target and others are among the biggest sellers of wine in the country. We need them to reach our target audience, and to create demand that will compel the distributors. One or two major accounts will make the difference between a successful launch and a failed launch, so the sales manager's role is critical.

The situation for this launch is that the wine market is highly competitive and relatively saturated. No store is waiting for a new wine to light up their life, and few customers are either. However, this creates a market opportunity, in no small part because consumers tend to rotate wines, but have a few favorites that they buy repeatedly. This dynamic means that we can enter the market and build up a customer base, despite the intense competition. We are part of larger wine production company, so we have some existing capabilities in production, marketing and distribution already. We have a few large national accounts but they do not carry the company's entire portfolio, just the largest brands.

The alternatives we face for the launch of Esteem wine are to build the brand slowly, through steady advertising and expanded distribution from a regional geographic base. Another alternative is to make a substantial, splashy nationwide launch. Lastly, we could launch Esteem as a national niche product and build from there.

The regional launch would allow us greater market penetration in the area. At the same time, it would simplify the launch by allowing us to focus on only a handful of distributors and customers. It would also allow us to conduct valuable marketing research post-launch that we could use to help us take the product nationally. The second option is the most expensive, splashiest option. It is high risk, but if we are able to establish a national profile immediately we would enjoy the highest sales and visibility. Additionally, we would pre-empt potential competitive response, whereas a regional launch could convince competitors to emulate our idea and they would win first mover advantages for most of the country. The third option would allow us to grow slowly, constantly refining our marketing techniques. While sales would be modest at first, we would have a better sense of the brand's potential before we make a major market entry. Further as a niche product we would be able to build up the cachet of the brand, which will help sell it once we take it to the mass market.

The alternative that will be used to launch Esteem is the regional launch. We are not going to worry about competitor response in this instance, because the wine business is already subject to intense competition. By launching regionally, we can forge a relationship with the largest retailers that can be leveraged for the national launch. By reducing their risk, we increase our chances of securing large accounts. Moreover, by launching regionally, we can better study our target market, making refinements to our labeling and advertising campaigns before taking the brand national. Any mistakes we make will be unknown in other markets.

The implementation process will begin with the target market research. This will involve the visual aspect and the taste/aroma aspect. Both will be tied to price, so that we have a sense of the price point we will want to achieve. Once we have settled on a formulation and basic packaging design, we will approach our distributors with our new product. We need to gain their support. Our sales team will then move on the larger accounts and attempt to leverage our existing goodwill to capture a couple of grocery or liquor chains. We will launch an advertising campaign in local and regional publications, and if the budget allows place spots on the radio to support.

The control process begins with goal-setting. We must determine the sales levels that we wish to achieve, and the number of large customers. We will also set goals for the post-launch target market feedback, in terms on what we would consider an acceptable level of response (say, 80% indicate they will buy again or 90% consider the wine good or above). We will gather extensive information from a variety of sources. The market research team will work on the consumers. The sales team will gather feedback from the large retailers and the distribution team will gather feedback from the smaller retailers.

We will then use the feedback gathered to make adjustments to our… READ MORE

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