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Marketing Plan Phase Iii Essay

2029 words - 8 pages

Product DescriptionThe product we'll be marketing is a new alcoholic beverage called Mean Green. It is a malt-based product in the same class as Zima and Smirnoff Ice and will be ready-to-drink (requiring no other mix) with a 5% alcohol level. What separates Mean Green from its peers is that its primary ingredient is a variation of absinthe. Absinthe is a strong liquor distilled with a great number of herbs like anise, licorice, hyssop, veronica, fennel, lemon balm, angelica and wormwood. The flavor of anise tends to predominate. Wormwood is an herb that grows wild in Europe and has been cultivated in the United States as well. Much of the liquor's legendary effect is due to its extremely high alcohol content, ranging from 50% to 75%, plus the contribution of the various herbs. It has been assumed by many that the so-called "active ingredient" in absinthe is wormwood, although that is apparently not really the case. It is the reputation of absinthe that provides the inspiration for Mean Green and separates it from its competitors. Absinthe was often considered the "drink of the intellectuals" since it was particularly popular in the artist, musician and free thinker community. This attitude migrated from France (and other parts of Europe) to the United States, New Orleans in particular. Absinthe experienced a renaissance in popularity in Europe in the 1990s and continues today. The Mean Green formula results in a tasty, effervescent drink that has the taste of absinthe, which is a licorice type of flavor. It will not be heavily sweetened, although sweeteners will be used to subtly tone down the bitterness that comes with the licorice and herb flavors. The flavors will actually have an earthy tone contributed by the herbs from the absinthe. Other flavors will be added to provide a different, edgy taste that will attract drinkers that consider themselves more sophisticated and intellectual. Packaging will also be crucial to convey its image and differentiate it from the competition, which is generally considered loud and adolescent.The Product Life Cycle (PLC) is similar to the life cycle that exists in biology. For example, a seed is planted (introduction); it begins to sprout (growth); it shoots out leaves and settles, as it becomes an adult (maturity); after a long period as an adult, the plant begins to shrink and die out (decline).In theory, it is the same for a product. After a period of development it is introduced or launched into the market; it gains more and more customers as it grows; eventually the market stabilizes and the product becomes mature; then after a period of time the product is overtaken by development and the introduction of superior competitors, it goes into decline and is eventually withdrawn.However, most products fail in the introduction phase. Others have very cyclical maturity phases where declines see the product promoted to regain customers. (Marketing Teacher [MT], 2005)Strategies for the differing stages of the...

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