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Programs is another element of the new four Ps. The company needs to have two programs. The first is that the launch program. The company needs a strategy to bring this product to market, and it needs to have a program that will allow it to gain exposure, build a brand quickly, and get the distribution it needs to compete. The second program needs to follow up the first one quickly, and take the product through the growth stage of the life cycle. This program has to continue to expand on the brand building, and get a strong follow-through on the launch. The key here is that the company needs to convince customers to drink the product regularly, and not just in a hiking context. That means that the company needs to keep the interest level high in the product. This is why the company needs to have the best people, so that all the ideas and energy are not expended on the launch, that the second program in terms of growing the brand is just as strong as the first one.
Performance is critical, and is another reason why the people element is so important. Performance reflects the measures of success that the team has for the product. The metrics need to be finely detailed, so that the marketing team knows everything there is to know about the product's performance, and the details of the people who are -- and are not...
Everything needs to be measure for a product launch like this. The target market needs to be understood intimately, so that the rest of the promotional program is on point. The performance measures needs to include target market measures, market share and penetration measures, store by store and region by region sales figures, test market responses and more. Basically anything that can be measured should be measured.
Ultimately, marketing this product should not be that difficult, and the new four Ps will focus the management team on setting up the best systems to ensure that the marketing program is effective. More knowledge and information is essential. Having the best people, so that there are always fresh ideas and insights is critical to growing the brand. Having distinctive programs that flow seamlessly from one to the other is something else that will help enormously. The sports drink with the fancy bottle must overcome some interesting challenges in the market but it can do this with the right people, the right processes, the right performance measures and the right programs,
Works Cited:
Marketing Management by Philip Kotler and Kevin Lane Keller, 14th Edition, ISBN: 0-13-600998-0, Prentice Hall, Inc. 2012.
Works Cited:
Marketing Management by Philip Kotler and Kevin Lane Keller, 14th Edition, ISBN: 0-13-600998-0, Prentice Hall, Inc. 2012.
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