The QikVin was created in the real world of successful Wisconsin Winery. The QikVin was invented within the busy and flourished winery. The company felt the necessity of the product because there are over 40 wines open in the tasting room and preservation was a serious issue. The purpose is to reduce the wastage by putting science and precision into operation. The bottle shrinks as each glass is poured with wine. A person can witness how oxygen is removed from the bottle. These wine bottles do not requires cartridges or preservatives. Moreover the bottles don’t require needles or any ongoing expenses. The wine works for both red and white wine. The product formula was formulated in Germany that uses a piston to push out oxygen. The purpose is to remove air from the bottle. Most interestingly the wines bottles are not using pumps, needles or gasses. The bottles are washable and reusable and use Eastman Tritan with no BPA to savor wines in their revolutionary bottle. The Tritan does not allow UV rays and light to affect its taste. The bottle has scale units sides that assist in serving (QikVin – Raising Wine Preservation to New Heights!.2017).
Some of its unique features are as follows:
The Australian Wine Industry has grown in the past 200 years as one of the most renowned industry in the world. It is known worldwide for quality, Innovation and depth. The country is among the top 10 countries in the world for consistently producing quality wine. From mid 1970 onwards Australia continues to grow as an overall Wine Business. The Industry is employing thousands of people where different type of Viticulture courses is offered at Australian Education institutions. It has become lifestyle for many Australians and a significant part of the Tourism Industry. The Australian national drinking taste is evolving and undergoing a drastic change. Beer no longer dominates the content of nation glass. Consumption trend has shown that Wine may soon become the drinking choice in terms of Alcohol consumption. Beer as a pure alcohol has dropped from 76 percent to 42 percent. It can be seen that the amount of Wine consumption rose from 12 to 37 percent (Australia’s wine industry.2017). The influence of Wine industry is worth noting as the country has readily become the world’s fourth largest wine exporter. Apart from producing wine, recent trends has shown that the country is meeting the requirement of UK in terms of wine (Powell, 2016).
(SOURCE: The rise of Australia as a wine nation, 2013).
The change in the trend has created urgency in terms of using a reusable bottle. The growing market and necessity for an alternate source of energy has created a market for the QikVin reusable wine bottles. The trends are likely to increase in the recent scenario and the market share for the perspective industry will go up (Goodie, 2016).
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Strength · Australia is among the top 10 countries in the world for consistently producing quality wine · · reduce the wastage by putting science and precision into operation · do not requires cartridges or preservatives · works for both red and white wine · Bottles are not using pumps, needles or gasses. · Dishwasher Safe, Endorse accountable Drinking and Stores wine Upright · amount of Wine consumption rose from 12 to 37 percent · based on alternate source that promotes environment safety |
Weakness · Re-sealing the bottle is not easy. · Limited life of the bottle. · Limited market due to restricted outreach of product. · Chances of wastage in case of multiple usages. · The bottles doesn’t look classy as required · They can’t be used for gifting purpose as the bottles are made from Eastman Tritan · Limited market growth and lack of export initiative |
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Opportunity · The growth in wine industry will help in increasing the overall market share of the company. · Environmental awareness will lead to in case of market growth. · Growth perspective in the international market with an increase in the number of Wine lovers. · Use Eastman Tritan with no BPA that can be reused (Schmitt, 2013). |
Threat Increase in competition from the other market player. Threat from international competitors Market is restricted Growth in saturated in terms of production. |
The overall process of marketing involves various steps that involve market analysis, market planning, implementation and control. In terms of the current business it is essential to understand that the overall wine business in Australia is rising which will directly increase the manufacture of bottles. The production of wine is directly related to the manufacture of bottles. The manufacture of reusable bottles will help in managing the environmental issues. The bottles are made considering the role and necessity of current population. In the current scenario it is however necessary that the company need to figure out the overall marketing strategies that will help in acquiring a significant market share. The overall marketing program requires the formal and informal channel through which the overall procedure is developed. Strong marketing plan include hardcore actions that will help in designing a great strategy. The marketing program involves mixing various ingredients in an efficient manner so that the means can be attained (The rise of Australia as a wine nation, 2013).
Firstly it is necessary to analyze the market needs and to prepare the plan accordingly. At an initial stage the plan related to the contract need to be established. Different instruction related to the extrusion tube need to be allocated and all parts are assembled accordingly. The marketing plan required to be made depending upon the market. Firstly the market analysis is necessary to be done in order to understand the market (Jobber & Ellis-Chadwick, 2012).
The necessary market planning is done in advance so that the market capacities can be evolved. The planning procedure takes at an initial stage which involves variety of decisions related to the product. In is essential to understand that the company must understand the procedure in which the marketing strategies are implemented (Malhotra, 2008).
Implementation is an important stage required for validating the overall project. It is therefore necessary for an individual organization to find out the manner in which the policies are implemented. The strategies pertaining to the overall marketing campaign need to be formed so that the company can create a market difference. In case of QikVin the success completely depends upon the procedure to implement the overall marketing strategies in order to seek attention (Lovelock, 2011).
Controlling the overall marketing strategies is essential in order to form a positive opinion in the mind of customer. The general shift in the mind of customer can be understood by developing a comprehensive planning. Controlling is a pervasive process that includes coordinating the whole procedure of the organization in order to develop capacities (Belz & Peattie, 2009).
Market feasibility related to a product can only be understood if a company conducts a thorough market research. There are varieties of market tools that help in improving the overall performance of the product. Before initiating it is necessary to understand the market requirement and consumer behavior (Grönroos, 2007).
It is a technique through which the company can coordinate in effectively evaluating the overall procedure through which the behavior of the customers can be adjudged. Survey of sample bottles can be conducted thoroughly that will help in receiving immediate feedbacks. In-person survey regarding the feasibility of the products is helpful in managing the future sale related to the product (Hanson & Kalyanam, 2007).
Online survey is an easy method through which an organization can understand the individual behavior towards a product. The understanding related to a product can be developed more effectively. Online survey creates an unpredictable response of customers. There opinion and preferences can be gathered effectively in order to draw inferences. By focusing on individual views it will be easy for an individual to understand the market trend (Aaker, Kumar & Day, 2008).
Observation is another technique through which one can understand the behavior of an individual consumer. It is however necessary to develop effective framework by which behavior of a consumer can be recorded in order to understand their behavior and buying procedure. This gives a clear picture towards the buying behavior of a consumer. It is however essential to record that the consumer behavior is subject to fluctuation and it is necessary for the market researcher to understand the behavior of an individual (Cateora, 2008).
The four P’s related to the marketing mix are as follows:
Product: the product related to the marketing mix tool includes information related to the product. The QikVin reusable wine bottles are creating a distinguished in the market on the basis of multiple bases. The product need to be unique so that consume can focus on them (Armstrong, Kotler, Harker & Brennan, 2012).
Price: the price related to the product needs to be consumer centric. The bottle is based on reusable material that has overall helped in creating the value for the product (Jain & Haley, 2009).
Place: The products need to be available among the consumer which will help in attaining a significant market share. The company is planning to launch product online due to the high degree of outreach (Hollensen, 2015).
Promotions: Effective promotional measures need to be taken in order to create awareness among people. Promotional campaigns include various techniques undertaken by the company to create a significant brand image.
The extended marketing mix tools are as follows:
Process: the company is planning to sell the goods online in the initial year. For the purpose they are planning to form an alliance with online companies. This will help the product to enter into the Market(Pride,2008).
Physical Evidence: Physical evidence includes the invoice, guarantee letter related to a product that will provide viability of the product (Czinkota & Ronkainen, 2013).
People: the sales and the managing team must be efficient enough to run the organization effectively. They are the one who represents the organizational goals. It is however essential for an individual to develop an effective workforce and training program that will help in earning qualitative goals (De Mooij,2013).
Conclusion
The report is based on the marketing plan of QikVin that sales reusable wine bottle. The growing wine market in Australia depicts that it will create more opportunities for the company in coming years. Marketing viability plan shows that the company needs to be concrete with its practice so that they can proactively take significant measures in order to create a difference. Consumption trend has shown that Wine may soon become the drinking choice in terms of Alcohol consumption. This will directly affect the current business trends.
References
Aaker, D. A., Kumar, V., & Day, G. S. (2008). Marketing research. John Wiley & Sons.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2012). Marketing: an introduction. Pearson Prentice-Hall, London.
Australia’s wine industry. 2017). (ONLINE). Retrieved from: https://www.australia.gov.au/about-australia/australian-story/australias-wine-industry (Accessed on: 26 March 2017)
Belz, F. M., & Peattie, K. (2009). Sustainability marketing: A global perspective. Chichester: Wiley.
Cateora, P. R. (2008). International Marketing 13E (Sie). Tata McGraw-Hill Education.
Czinkota, M. R., & Ronkainen, I. A. (2013). International marketing. Cengage Learning.
De Mooij, M. (2013). Global marketing and advertising: Understanding cultural paradoxes. Sage Publications.
Goodie,J.(2016).Australian Wine: A Bright 2017? .(ONLINE). Retrieved from: https://www.wineaustralia.com/au/what-s-happening/stories-of-australian-wine/december-2016/2017-a-classic-vintage-for-australian-wine (Accessed on: 26 March 2017)
Grönroos, C. (2007). Service management and marketing: customer management in service competition. John Wiley & Sons.
Hanson, W., & Kalyanam, K. (2007). Principles of Internet marketing. South-Western College Publishing.
Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.
Jain, S. C., & Haley, G. T. (2009). Marketing planning and strategy. Cincinnati South-Western Publishing Company 1985..
Jobber, D., & Ellis-Chadwick, F. (2012). Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.
Lovelock, C. (2011). Services Marketing, 7/e. Pearson Education India.
Malhotra, N. K. (2008). Marketing research: An applied orientation, 5/e. Pearson Education India.
Powell,R.(2016). Wine Trends 2016.(ONLINE). Retrieved from:
https://www.winecompanion.com.au/Articles/News%20Articles/2015/December/Wine-Trends-2016 (Accessed on: 26 March 2017)
Pride, W. (2008). Marketing. Cengage Learning.
QikVin – Raising Wine Preservation to New Heights!.(2017).(ONLINE). Retrieved from:
https://www.kickstarter.com/projects/416039610/qikvin-raising-wine-preservation-to-new-heights/ (Accessed on: 26 March 2017)
Schmitt,P.(2013). AUSSIE WINE TRENDS: 4. PERFECTING PINOT.(ONLINE). Retrieved from:
https://www.thedrinksbusiness.com/2013/01/aussie-wine-trends-pinot-noirs-revolution/ (Accessed on: 26 March 2017)
The rise of Australia as a wine nation, (2013). (IMAGE). Retrieved from: https://theconversation.com/the-rise-of-australia-as-a-wine-nation-14875 (Accessed on: 26 March 2017)
The rise of Australia as a wine nation, (2013). (ONLINE). Retrieved from: https://theconversation.com/the-rise-of-australia-as-a-wine-nation-14875 (Accessed on: 26 March 2017)
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