The paper “ Last Chance’ s Brand Plan for Soft Drinks” is a spectacular version of a case study on marketing. The soft drinks industry presents numerous opportunities for interested companies to introduce brands into the market. The increased use of soft drinks among the youth presents Last Chance with an opportunity to target its brand on the youth. The positioning strategy includes identifying the target market and analysis of key competitors in the soft drink beverage industry. This paper proposes the appropriate target market to be people aged between 8 and 30 years in Australia.
The youth are active and easily reachable via the media. The main competitors in this industry include Coca Cola, Pepsi and Cadbury Schweppes. In order to compete with these companies, Last Chance must observe its market size, profitability and the growth rate of its competitors. The use of sufficient POPs and PODs will ensure that the company provides a similar, but unique brand compared to the products of its competitors. In order to build brand equity, the company ought to consider brand awareness and image as key factors for effective brand equity building.
The appropriate communication strategy requires the company to use a media mix, which includes all visual, audio and print media. However, visual media are the best because of the capacity to appeal to consumers. The appropriate measures of brand equity include customer perception of brand equity in terms of loyalty, associations, perceived quality and awareness, and market behavior. The usage of soft drinks is gradually increasing and overtaking other beverage sectors in Australia and the entire world. The increase in the consumption of soft drink beverages presents an opportunity for Last Chance to venture into the soft drinks industry and take advantage of the increasing number of consumers.
In order for Last Chance to succeed in the soft drink beverage industry, it is vital for the company to have an effective positioning strategy. The positioning strategy should comprise the target market, competitor analysis, Points of Parity (POP) and Points of Difference (POD). The company also needs to build brand equity by developing brand awareness and brand image. The company also needs to develop an effective communication strategy in order to access the target market for the brand.
The communication strategy should involve a creative strategy for delivering the message in an effective manner in order to appeal to consumers in the country. The communication strategy should outline the media that the company should employ in order to reach target consumers. The brand plan should consider the best ways to measure the strength and value of the brand, or way to measure brand equity. This paper presents a brand plan that the company needs to employ for the next 12 months.
It will help the company to capture the appropriate market and sell its brand to consumers in Australia. This plan includes the positioning strategy, building brand equity, creating a communication strategy, measuring brand equity and recommendations, as well as the assumptions. AssumptionsThere are several assumptions that this brand plan considers for it to thrive. In devising an effective positioning strategy, this plan assumes that the organization has the capacity to provide soft drinks required by the target market. It also assumes that the company will produce distinctive and sustainable products that can appeal to the target market.
For the success of the positioning strategy, this plan also assumes that the company has the capacity to provide the required resources in order to support and sustain the required positioning. It also assumes that the main competitors in the soft drink industry are Coca Cola, Pepsi and Cadbury Schweppes. In addition, this plan assumes that the company has adequate access to the communication media proposed in the communication strategy.