You are required to develop a detailed marketing strategy for the introduction (or launch) of a new product or service into the Australian market, for the company which will be assigned to your group from one of the following industries; Australian Retail, Australian Fashion or Australian Online B2C marketing.
The Rejuvenation Water Ltd is established by Kris Embarked in 2016 in London. The Rejuvenation Water considered to be an innovative and unique idea which has develop the Amino Acid water and this idea was awarded in 2016 by the Great taste Awards. Now the company want to launch their product in Australian Market. This report contains the description of product, customers, market, objectives, various strategies, operational plan and action plan.
The founder of Rejuvenation Water Ltd is Kris Embarked, he spent his childhood in small Yorkshire town. His family is having Pennine dairy farm, the apples fell far from the trees. After completing his degree in Economics he started his career in the financial sector in London. However, he always felt he is not made for job, he wants to break into business world. He first got a sense of business when he was 14, when he took part in Junior Enterprise scheme. He got disappointed when his idea of setting up a horse training and sales business was rejected by the judges. But his passion to develop the business idea continued and at university, where he first discover the benefits of amino acids and then he formulated the concept of Rejuvenation Water. Kris has been defining and developing the business idea for several years and ultimately in 2016 he brought the product in the market. With the launch of the product is already listed in the 150 outlets and the company has launched their products in Holland and Barrett. After the success of Rejuvenation Water in London the company want to introduce the brand new product in Australia market for the very first time (Seedrs, 2018).
Rejuvenation Water is the world’s first Amino Acid Supplemented spring water, which is bee designed by the company to deal with the consistencies of modern life. Using Staffordshire spring water, natural fruits juices and a unique Amino Acid formulation, Rejuvenation water fit perfectly into the busy lifestyle. The products are available in three flavours Ginger and Lime, Spanish Orange and Apple and Mint And each bottle contain Amino Acid, Protein Natural ingredients and no added sugar (Rejuvenation water, 2018). The product is very useful in fuelling the immune system, building a natural resilience towards depression, stress and anxiety. The Rejuvenation Water is perfectly position the product among its primary target market, health conscious and urban based professional.
The company has decided to primary target those people who are very health conscious and the professional who always remain busy in their work. The health conscious people include those the individuals who go to gym on daily bases and active sports persons because the drink contain the ingredient which will really help them in their work out sessions and practice sessions, the 5 grams of the Amino Acid L- Glutamine in each bottle will consider as a perfect drink for the post work out or post exercise hydration. The people who are really busy in their work and daily schedules the rejuvenation water is very beneficial for them the rejuvenation water i slow calories drink with natural sugars only and it is ideal for the mid-afternoon office going peoples. The people who are travelling the rejuvenation water is very useful for them the functional range of Amino Acid enrich spring water provide smart hydration while travelling (Letunic, & Bork, 2016).
According the latest server the market for energy drinks after the launch of red bull has increased to 6% and the customers are buying the energy drinks very often. This is the great new for the company as they are planning to launch the product in the Australian Market. As the rejuvenation water is made of natural ingredient and contains no sugar and caffeine that will increase the change of the getting market share very fast. And the initial stage the company to increase its sale will provide some interesting offers to their customers and they are also planning to introduce the contest for the people of Australia who will buy the rejuvenation water (Tomczak, Reinecke, & Kuss, 2018).
The rejuvenation water launched with the objectives to provide the health benefits to the people who are engaged in busy work schedule or the individual who are very much involve in work out and sports. While travelling and relaxing also the drink will be really helpful during journey or during long-haul flight the rejuvenation water will provides the hydration to the body as the bottle of rejuvenation water is contain a range of Amino Acid enriched spring water and the drink did not contain caffeine or stimulants it is very much ideal for the evening and weekend unwinds. And by introducing the drink in the Australian market the company will get benefits as the range of its target market will increase, the people will come to know about the new and healthy product and it will boost the sale of the product and increase the revenue of the company. And lastly the Product will get the chance to deal in the international market (Cleverism, 2014).
The basic model of marketing is marketing mix. Marketing mix is considered to be the set of marketing tools which help the company in fulfilling marketing objectives. The main purpose of marketing is to make customer aware about company’s products or services. Marketing mix includes 4 Ps, Product, Price, Placement and Promotion
The product of company is available in three flavours Apple and Mint, the rejuvenation Water is drink which main ingredient is Amino acids and it is designed by the company to provide healthy and fit life to the people in the modern, busy, stressful life.
|
Apple and Mint |
Ginger and Lime |
Spanish Orange |
Units |
|
|
Per 500ml |
Per 500ml |
Per 500ml |
||
|
Energy |
218.5 |
208.0 |
197.5 |
KJ |
|
Energy |
52.0 |
49.45 |
47.35 |
KCAL |
|
Fat |
0.0 |
0.0 |
0.0 |
g |
|
Of which saturates |
0.0 |
0.0 |
0.0 |
g |
|
Carbohydrate |
2.34 |
11.25 |
11.25 |
g |
|
Sugar |
2.34 |
11.25 |
11.25 |
g |
|
Fibre |
0.0 |
0.0 |
0.0 |
g |
|
Protein |
1.0 |
5.0 |
5.0 |
g |
|
Salt |
0.0 |
0.0 |
0.0 |
g |
(Source: Rejuvenation water, 2018).
The pricing of rejuvenation water purely depend on the market and the market condition the as the product is new in the Australian market the company will keep the price of the drink low. The first step of company will be increase the market share. To increase the market share the company need to keep its price low as there are many drinks available in the ,market and to place the new product it become necessary for the company to keep the price low in comparison to the rest energy drinks available in the Australian market. After considering the whole market share concept the company has decide to keep the price of a bottle is 19.49$ for Australian market and it inclusive of all taxes (Kang, 2013).
As the product is new in the Australian Market it is a big challenge for the company to place the product in the market and to make the product easy reach of consumers. The product should kept or place at the departmental store, medical stores as it is a healthy drink, retail stores and the company has also an option to sale the product online with the help of E-commerce shopping website. The development of distribution channel is also a challenge for the new business and for that the company need to create a venture with one of the Australia based distributing company, with the help of which the product will get easily place in the market (Liao, Hung, Kao, & Wu, 2014)
The placing of product is not enough the company gets profits only when the customers will buy the product and to attract the customer toward the product the company need to develop a promotion place with the help of which the company will get the chance to attract more and more customer to buy the product. To promote the product the company need to develop idea for advertising products. Advertisement is very essential for any new product which is going to launch in the new market. There are various ways with the help of which the company will get the chance of attracting customers (Wijaya, 2015).
The internet is very powerful tool in the current market conditions it is essential for the company to develop the website of the company which will specifically for the Australian market. For the people of England the company already had a website but new website should be for Australia. The website should contain all details related to company and product.
The company should place there add in new paper which will let the population know that some new product has taken place in the market. The television commercial can also be uses as tool for the promoting the newly launched product. The magazines and radio can also act as the tool of advertisement. At the initial stage the company will provide some offers to their customers to increase the sale and to place the product in the new market (Wijaya, 2015).
The concept of public relation is very useful in connecting the company directly to the customers. The company can use the various ways to connect with their target audience. The company can organised a press conference, media interaction and can organise a free sample at selected stores. The company can distribute its products at some charitable trust or old age home or at the offices.
The digital marketing is very important tool of promotion. The digital marketing includes marketing through social media like, Facebook, Instagram, twitter and many more. The company will make an account on various sites and post details of product to promote the product.
For every successful business operational plan is very essential. Operational plan purely depend on the location, quality of service and how it will deliver to customers. The processes of planning will require a very attractive and direct approach to the client base.
The price of the rejuvenation water is target to encourage the customers and to increase the sale. The main objective of every business will be increase the profits of the company and that will be attaining when the customers will purchase the product. The company has designed the price of the product as such which will increase the sale. As the company is just introducing the product in the market they have decided to keep the prices of the product low.
To target the specific market the advertisement will be the best tool and it will help the company in getting profits. The company can use various methods of advertisement like advertising on TV, newspaper, radio and Magazine. The commercial on TV will involve huge investment in comparison of other methods. The other advertising method will be online or digital marketing and it will involve very less budget. The company has decided to advertise the product by involving less cost by mixing all ways of advertisement.
|
items |
Date |
Cost |
|
|
Website Building |
25th June |
$ 6000 |
Contains details of product and company |
|
Free sample distribution |
6th July |
$ 5000 |
Distribute free samples at selected places |
|
Newspaper advertisement |
10th July |
$1000 |
Feature on full one page |
|
Site hosting cost |
10th July |
$ 2000 |
That will secured that the first page of Google search |
|
Magazine advertisement |
15th July |
$ 1000 |
One page advertisement |
|
Special offers for special customers |
10th July |
$ 10000 |
This offer applicable on one lot of production |
|
Grand opening |
10th July |
$ 2000 |
250 people will attain the opening |
|
Total |
$27000 |
(Source: Goi, 2012)
The action plan will include the stages of the product to be launch in the Austrian market. On 25 June the will launch its website which is especially for Australia. On 6the June they will distribute the free sample to create awareness about the product among the people. On 10th of July they are planning for a grand opening of the product in Australia. With that the company will place the advertisement on same date with the various sources. Before the action plan the products are already placed in the stores with some special offers (Letunic & Bork, 2016).
Conclusion
To conclude, the rejuvenation water Ltd is planning to introduce the energy drink in the market of Australia. There are many benefits attached with the product and with the help of those benefits the product will easily get the market share. To increase the sales the company has adopted the various methods of promotion and providing various offers for some special customers. The product is having good features so it gets success in Australian market.
References
Batra, R., & Keller, K. L. (2016). Integrating Marketing Communications: New findings, new lessons, and new ideas. Journal of Marketing, 80(6), 122-145.
Cleverism. (2014). Understanding the Marketing Mix Concept – 4Ps. Retrieved from https://www.cleverism.com/understanding-marketing-mix-concept-4ps/.
Goi, C. L. (2012). A review of marketing mix: 4Ps or more?. International journal of marketing studies, 1(1), 2.
Kang, S. U. (2013). GPR119 agonists: a promising approach for T2DM treatment? Market analysis of GPR119. Journal of Drug discovery today, 18(23-24), 1309-1315.
Letunic, I., & Bork, P. (2016). Interactive tree of life (iTOL) v3: an online tool for the display and annotation of phylogenetic and other trees. Nucleic acids research, 44(W1), W242-W245.
Liao, C. N., Hung, J. Y., Kao, H., & Wu, C. J. (2014). Marketing strategy model: A conceptual framework for micro-enterprises. Journal of Human Systems Management, 33(4), 199-206.
Palatnik. P. (2017). Important Features of Ecommerce Product Pages. Retrieved from https://www.practicalecommerce.com/10-Most-Important-Features-of-Ecommerce-Product-Pages.
Rejuvenation water. (2018). About Us. Retrieved from https://rejuvenationwater.co.uk/#aboutus.
Rejuvenation water. (2018). Products. Retrieved from https://rejuvenationwater.co.uk/#products.
Richards. F. (2017). Features of eCommerce Technology. Retrieved from https://www.techwalla.com/articles/features-of-ecommerce-technology.
Salar, M., & Salar, O. (2014). Determining pros and cons of franchising by using swot analysis. Journal of Procedia-Social and Behavioral Sciences, 122, 515-519.
Seedrs. (2018). Rejuvenation Water. Retrieved from https://www.seedrs.com/rejuvenation-water/sections/idea.
Theaker, A. (2017). What is public relations?. In The Public Relations Strategic Toolkit (pp. 17-27).USA: Routledge.
Tomczak, T., Reinecke, S., & Kuss, A. (2018). Introduction. In Strategic Marketing (pp. 1-18). Springer Gabler, Wiesbaden.
Wijaya, B. S. (2015). The development of hierarchy of effects model in advertising. International Research Journal of Business Studies, 5(1).Morris. J. (2016). Online Marketing Strategies. Retrieved from.
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