New Brand Marketing - Case Study Example

New Brand Marketing Contents Product s and targeted market 3 Promotion 4 Promotional campaign 5 Pricing and Distribution 6 References 9 Product descriptions and targeted market Green motorcycle is the new product that is going to be launched in the market of India. It is a motorcycle runs with the power of battery, instead of fuel. This is a two wheeler. This product will have one carrier for keeping different small materials. Battery of the motor cycle has to be charged with a charger. Charger will be provided by the company. Size of the charger will be medium almost 4ft. The charger has to be plugged on electrical circuit board. Other port of the charger has to be plugged into the motorcycle. It would be a light weight vehicle. The vehicle will have self start system; by pushing one button the motorcycle will take start. It would have two hand breaks and one foot break. The motor cycle would get acceleration by twisting the right arm acceleration. The motor cycle would have one looking glass on the left hand side of the vehicle. The motorcycle can reach up to maximum 100 Km/hr speed. The product would have one speedometer indicating the speed. It will have one charging meter which would indicate the charging situation of the battery of the motorcycle. This motorcycle would be able to take two persons on it. One system of kick start would be there in the vehicle, it would be a back up for the self starting system. There would be one foot rest on both sides of the motor cycle for resting feet. It would be a simple designed motor cycle. 4 hours of charging is enough for the motorcycle. The motorcycle can perform well in rough road. The vehicle will have very comfortable sitting facilities padded up with lathered cushion. Handle of the product would be very flexible and easy to navigate. Handles are also well padded for gripping purpose. It would have controlled horn which would lower the noise pollution as well. The Green motorcycle will going to be an environment friendly product. Market research is showing that there is no such other motor cycle is present in the market runs by battery. Motor cycles runs by fuels are very much hazardous for the environments. There is a huge scope for such an environment friendly green vehicles. As the new product is run by battery, it causes very negligible environmental problems. There is no poisonous smoke would come out of the products. Global conventional fuel sources are getting exhausted day by day. This juncture of time people are looking for a substitute sources for energy. This product can be a very good alternative for human being. The target market of these products would be those countries where environment related rules are very strict (EXP: New Zealand), people of different ages and gender can use this product. Middle income people can easily afford this product. The product would be very useful for health care industry also. Green motor cycle would be a product that can help to maintain environment pollution under control. It would be a very important and effective product for all environment friendly people. The product will open a new chapter of environment friendly two wheeler vehicles. The height of the Motorcycle would be standard and comfortable for different height people. The product needs to be serviced after every six months. It would have all weather protected body can resist all the hazards of weather. This product would play a significant role as far as environment is concern. Green motor cycle would be a modern, stylish and next generation two wheeler vehicle. It would attract people from different demographics. Promotion This section of the project will discuss different aspects related to the new product promotion. The shape of the product is depicted in the below picture. In the picture only one colour is given. The product is available in green, red, white and black colour also. Below depicted symbol is showing that the product is a green building product. This symbol would there on the battery of the product. This symbol would clearly tell that this is an environment friendly product. People will feel attraction for the product. Promotional campaign Promotional campaign will be held by the road side in front of metro railway stations. Two model products will be there for demonstration. This campaign would show all the steps related to products (Ruddy, 2010, pp. 67-71). It would show the charging system of the product. It would also indicate the pollution level caused by this product. In this promotional campaign some hand books containing products guidelines are going to be distributed. This campaign will clarify on road prize of the product also. Promotion will offer test drive for limited people. It would give the real time feel of the product. The campaign will Show different environmental hazards caused by the conventional motor cycles. It would show a comparison between conventional motorcycles and the Green motor cycles in a giant screen (William, 2008, pp. 12-17). This activity would have a telling effect on the people. Every day lots of people travels by metro rails. People from different age, gender, culture and creed passes by the metro station. That is why metro railway station has been chosen for the product promotion. This activity can easily target lots of people in at one single go. With the help this campaign huge portion of the market will be aware and will feel attraction about the product. Three types of media will be involved with this campaign. Those are 1) Print Media (reputed news paper), 2) Electronic media (reputed T.V. channels) and 3) Social networking site (Exp: Facebook). Customers read news paper on a daily basis (Robert, 2014, pp. 55-61). An advertisement in news paper can fetch the attention of the customers. An attentive customer would read the details of the product and will feel attracted towards the product. In this way Green motor cycle will be promoted with the help of news paper (Charles, Joe, and Carl, 2008, pp. 447-451). Television advertisements are also very effective promotional medium for the new product. Almost every people watches television. Repeated advertisements can position the new product very well in the mind of the customers. This media would help promotion of the product immensely. It would be able to reach to large base of customers. Social networking sites are also great medium for promoting any new products. This kind of media has huge influences on our society. Young generation are using this media heavily. It can attract lots of young people. Promotion through social networking site can erase the barriers of different countries. Green motorcycle can gain a global mileage out of this media. People from different countries will be aware about the product. It will create an international brand image for the product. Proper promotion is very important for any company. Especially for new products promotion are very important. Company must design its promotion campaign very well and it has to be implemented very professionally. Promotional campaign must be very simple and well communicated. It should not create any confusion in the mind of customers. Promotion campaign must be very innovative and creative. Company must analyse the different promotional activities of its competitors. Promotion must be very attractive for all demographics of people. Pricing and Distribution Green Motor Cycle must go for a competitive pricing strategy. Pricing of the competitor are given in below table. Name of the company Prize of the product (INR) TVS 70,695 HERO 69,000 BAJAJ 70,000 (Source: Gordon, 2002, pp. 13) The above table is showing the pricing of different competitors present in Indian market for Green Motor Cycle (Tim, 2011, pp. 35-41). Above trend is showing that the industry is highly competitive in nature. Company must fix it pricing strategy very well. It must not go beyond the existing market prices of its competitors. Green Motor Cycle must fix it price very near to its competitor. At first company must go for marginal revenue. It pricing strategy should be at par with its competitors. Once the brand is established in the market then company can go for higher profit abilities. Pricing strategies should be very well calculated and competitive. If the pricing is higher than its competitor then Green Motor Cycle would lose its competitive edge in the market at the very beginning of the product launch (Julie, Mike, Larry, and Chris, 2011, pp. 121-123). Company must keep that thing in mind and fix it pricing strategy according to that. Pricing should be within the reach of middle income customers. Distribution strategy of the competitors is given below with the help of a diagram. (Source: Bert, 1993, pp. 27) The above diagram shows the distribution pattern of companies present in the market. All companies’ sale products to its authorised distributors then authorised distributor sale products to retailers at last retailer sale products to end customers. Green Motor Cycle Company can follow this kind of distribution system. Company need good distributor for its products. Company must sale its products to its authorized distributors (Julian, 2011, pp. 23-25). Those authorized distributors will distribute it to the retailer and at the end retailer will sale products in the market. Company at first should limit its distribution according to market demand. Distribution pattern should be very smooth for the new product. Choosing a proper distributor for the product is very important for the company. Company can go for its competitor’s distributors. Company must distribute its product very professionally. It must monitor that which market is having the potential of higher sale of the product. According to potential of the market company must distribute its number products to the distributor present in that market. Company must maintain balance of distribution very well. Company must monitor its distribution pattern very carefully (Kenneth, 1998, pp. 45-50). It must choose good retailers from different market for launching their new product. Good retailer can be very much productive for the company. Every distribution channel has its own limitations. Green Motor Cycle must tackle those issues very seriously. Distribution pattern is the back bone of product’s success. Company must implement and maintain its distribution channel very well. Any gape or mistake in terms of distribution channel can be counterproductive for the product. The above discussed distribution channel is very suitable for the company because the distribution pattern is very simple and effective for a new product like Green Motor Cycle. References Bert, R., 1993. Wholesale Distribution Channels: New Insights and Perspectives. New York: Psychology Press. Charles, L., Joe, H. and Carl, M. 2008. Essentials of Marketing. London: Cengage Learning. Gordon, M. 2002. Retail Pricing Strategies and Market Power. Melbourne: Melbourne University Publishing. Julian, D. 2011. Distribution Channels: Understanding and Managing Channels to Market. London: Kogan Page Publishers. Julie, M., Mike, S., Larry, M. and Chris G. 2011. Pricing and Profitability Management: A Practical Guide for Business Leaders. Singapore: John Wiley & Sons. Kenneth, R. 1998. Managing Channels of Distribution. New York: AMACOM. Robert, G. P. 2014. Media Product Portfolios: Issues in Management of Multiple Products and Services. New Jersey: Routledge. Roddy, M. 2010. Sales Promotion: How to Create, Implement and Integrate Campaigns that Really Work. London: Kogan Page Publishers. Tim, S. 2011. Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures. London: Cengage Learning. William, P. F. 2008. Marketing. London: Cengage Learning. Read More