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Marketing Planning - Essay Example

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Marketing communications play a major role in the success of a product in the market. The paper "Marketing Planning" analyzes different components of marketing such as pricing, distributing, communicating new products, new product launch etc. on examples of Starbucks and KFC…
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Marketing Planning
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"Marketing Planning"

Download file to see previous pages Starbucks would essentially adopt a value delivery based distribution strategy that would imply that the company adds value in each of the stages of distribution (Hooley & Graham, 2008, p.6). Starbucks would also try to undertake a vertical backward integration that would help the company reduce the cost leakage and would also enable greater value creation. This would help generate cost advantage that could be passed on to the customers as price discounts. Moreover, a backward integration would also enable the Starbucks to generate greater value in the finished product in the form of better quality standards as it would enable the firm to have greater control over the supply chain increasing its bargaining power to a considerable extent. This would also help the company to create entry barriers for new entrants. In addition to pricing and distribution marketing communications also plays a major role in the success of a product in the market. Starbucks would adopt an integrated marketing communication strategy that would include using multiple channels of communication. Considering the fact that Starbucks has its operation spread around diverse areas of the globe hence a ‘glocalisation’ strategy of thinking globally and acting locally would be followed by the company across its entire line of business. This would imply that the company would essentially take into account the local culture and sentiments of the target market while implementing the marketing communication strategy....
Considering the fact that Starbucks has its operation spread around diverse areas of the globe hence a ‘glocalisation’ strategy of thinking globally and acting locally would be followed by the company across its entire line of business. This would imply that the company would essentially take into account the local culture and sentiments of the target market while implementing the marketing communication strategy (Carey, 2007, p.143). New Product Launch New product development includes a number of steps beginning from idea generation, idea screening, evaluation, prototype launch, final screening and actual launch (Waters, 2006, p.278). A new product to be launched by Starbucks would be a smoothie that would be a blend of coffee and chocolates. The product would come up with fruit flavours that would essentially include local fruits as well as seasonal fruits. The new product would be positioned as a drink with a nutritional value that would also have a good taste and nutritional value. The product would be targeted at the younger age group of 15-45 years. The company would launch this new product simultaneously across all the markets that are being currently served by the company. In this regard the company would add local tastes and flavours that would help the company easily popularise the product. This would be in line with the ‘glocalisation’ strategy of thinking globally and acting locally (Hamel, 2001, p.100). Starbucks would adopt an effective integrated marketing communication strategy that would essentially use different media sources including the print as well as electronic media. Billboards and hoardings would be also used to promote the new product. In addition attractive initial discount ...Download file to see next pagesRead More
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