The paper "Positioning: The Battle of the Mind" is a wonderful example of an assignment on marketing. Week 1 Marketing audit mind map Week 2 Marketing a new product In marketing keep cup, the objectives to consider will include; Profitability Objectives whereby the company will work hard to realize a 25% return on investment by April 2014. Next will be Market Share Objectives where we are looking forward to gaining 50% of the market share for our product by January 2020. Also, we will highly focus on Promotional Objectives whereby we will in high gear trying to increase awareness of the environmental friendly keep cups by January 2014.
Also Objectives for Survival since competitors might introduce cheaper products due to the changes in technology day by day. Finally, Objectives for Growth whereby we are looking forward to expanding our operations in countries where there is substantial economic and political stability by mid-2017. The company noted that the dumping of non-non-recyclable paper cups was a major environmental issue. The public relations goal included the need to create awareness of non-recyclable paper cups’ environmental harm, and then to change behaviors to encourage the use of Keep cup as an environmentally-friendly alternative.
By using keep cups benefits such as significant reduction of the environmental impact brought about by disposable plastic cups by reducing tones of the landfill, saving trees from being turned into paper cups The Keep Cup is manufactured from polypropylene, a safe plastic which is bisphenol-A free compared to normal plastics. The target market for our product will be companies where staff and customers are served with hot drinks, event organizers where attendants are served with hot drinks as well as take-away cafes.
Since it is a new product in the markets and has unique differentiating features, we will use physical-based positioning by extensively explaining the features to the potential buyers and thereon to win their minds (Al Ries & Trout, 2000). Coming to distribution decisions we will use both the push and pull strategies. In push promotional strategy we will be taking the product to the customer directly to make sure the potential buyers become aware of the new product. The company will also use trade show promotions to encourage retailer demand, direct selling to customers, looking for product dealers worldwide and many more.
The pull strategy will be used to motivate potential buyers to seek out a product in active practice. The company is looking forward to providing we are free to keep cups to three companies. Integrated marketing communications objectives and planning assures correspondence with the potential buyers. This will involve strong marketing skills in delivering brand awareness, knowledge, and interest, attitudes, image and purchase intention to the potential buyers.