Marketing Executive Summary Bois Banded wine is a local company,that manufactures a sexual tonic wine product. The intention is to position the company as a leader in local wine products, particularly those centered on the male enhancement wine market. I plan to address the need of drinkers that are in need of an energy boost as well as a sexual performance supplement, with the intention of becoming the leader In the enhancement wine Industry. Bolls Banded tea Is based on the same uses of the bolls banded plant but caters to women and other more conservative consumer.
It enhances energy and libido, as well as stamina but is 100% natural with no additives. Introduction My product is called Bois Banded Wine. The main active ingredient in Bois Banded wine is Richer grand's (locally called Boise Banded) a tree species In the family Phylacteries which ranges from the Lesser Antilles to South America. The species is reputed to have aphrodisiac properties and currently other drinks on the market claim to feature the ingredient in very low quantities that are yet to be disclosed.
The plant is somewhat legendary in the Caribbean for its aphrodisiac properties and I intend to utilize it in significant quantities along with other herbal aphrodisiacs and become the first in the region to patent and actually publish the comprehensive breakdown of Tonic Wine. Bolls Banded tea Is a healthier, less concentrated spin off of Bolls banded wine, manufactured In a tea form. Although Bolls Banded tea uses the same active in gradient as its selling point, it caters to a different segment of the peg peg market that is older, health conscious and more conservative.
Table of Contents Introduction -? Company Vision, Mission and Values Soot Analysis (fig. 1) -- - Soot analysis continued-- Segmentation(fig. 2)-- Segmentation Product Review -? Targeting - Marketing Mix(fig. 3)---- Marketing Mix continued--- Positioning--- Points of Parity and Difference-- peg peg peg - peg 10 page peg 12 - peg 13 - peg 14 Bibliography---- peg 16 Company Vision Statement To be the leading producer of enhancement based beverages on the local market.
Company Mission Statement To establish the most potent product in the field of sexual tonic wines with an energy boosting component; and adhering to all relevant safety standards while maintaining a customer focused marketing approach. Company Values We represent the highest standard of production and service and are committed to excellence. Product Slogans: Bois Banded Wine, Harder Than Life. Bois Banded Tea, Better With Age.
Soot Analysis Fig 1 STRENGTHS * Main ingredient already regionally reputed * Various sizes and attractive packaging * Specialist expertise in the creation of the product * Very easily relatable name * Not many competitors in the field * Celebrity endorsements I WEAKNESS * Because of potency of the wine product, over use may pose a health issue to certain users * Bois banded tea me not be endorsed by actors for their patients with serious ailments I OPPORTUNITIES * Strong scientific and research team * High demand for more potent aphrodisiacs * Product can cater too wide age demographic * Similar products are poor in taste I THREATS * Product address an area that is somewhat still taboo * Possible health effects can be exploited by competitors I Strengths * The Bois Banded plant has been used by practitioners of 'bush medicine' for years in the Caribbean. Because the awareness of the plant is so high, the public has already formulated pre conceived notions about the effectiveness of the product.
Featuring celebrities in ads with the product tends to raise the awareness of the product. Weaknesses * The wine is very potent and can increase blood flow significantly if consumed in large amounts. Older consumers are advised to consult their doctor before heavy use. * A Strong research team allows us to work on product development and it is important in finding better, cheaper and more efficient ways to extract the necessary components * The demand is high for local aphrodisiacs Threats * The sexual nature of the product will restrict our marketing somewhat because e cannot market to children and would have to present out public with a censored approach to getting their attention. Market Segmentation is to divide a market into smaller groups of buyers with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes. " (Charles W. Lamb, 2003, p. 214). The market is broken down using demographic factors. The target area for Bois Banded Wine is all groceries, bars, nightclubs in every city and town in Trinidad and Tobago. Demographic The main target group consists of males and between the ages of 19 and 65 Bois Banded Tea targets older individuals that are over 60 and are interested in preserving their sexual health and maintaining high energy levels. Figure 2 above shows the breakdown of the market for Bois Banded products, divided into needs based segments.
Young Males (19-30) Young adults are looking for a product that increases energy, and that is eye catching. In addition to the sexual properties of the drink it also increases energy and for the young crowd that may party all night and have a need to perform when they get home with their significant other, this product directly addresses that need. Also he younger crowd are attracted to the packaging and the influences of popular culture ; we played on this acquiring celebrity endorsements. Prime Males (31-50) Men in their prime are at the peak of sexual activity. Therefore their needs are based on the desire for raw performance on a regular basis. Men in this age group are usually in fairly early stages of their marriages.
And they want to ensure that work and the demands of being fathers and husbands does not subtract from their sexual performance. Older Males (50-65) Older males facing health issues like hypertension tend to suffer from erectile hesitation. There have long been health risks associated with male enhancement pills, and Bois Banded represents a safer, more natural alternative. In addition the recapture the glory of youth. People Over 65 Most people in this age group rarely consume any alcohol and are more interested in health products. As a tea, Bois banded addresses several health needs such as blood purification and combating infections of the urinary tract.
Main Competitors Cornea's' Hard Wine Magnum Tonic wine Lipton Yellow Label Tea Product Review Bois Banded Wine * Available in two sizes mall mall Nutritional facts Serving size per bottle (750 ml) Bois Banded extract 400 MGM (concentrated) Sucrose Terrine Siberian Ginseng Bois Banded tea 500 MGM 250 MGM 300 MGM Serving size per 100 ml Protein Carbohydrates Sodium MGM MGM smog Each tea bag contains g of Bois Banded Targeting The target group for Bois Banded wine is the 50-65 age group of men. This segment is not only easily distinguishable in their consumption patterns but they represent the segment of the market with the most purchasing power.
This particular group has special needs that in the area of sexual health and performance enhancement due to he variety of lifestyle diseases that can bring about erectile dysfunction among that age group. The target group for Bois Banded tea is women and men over 65 because at their age they would require all the benefits that Bois Banded Wine has to offer but at a cheaper price and in a more natural and healthy state. Marketing Plan Objectives Pansies (2004) defines marketing as the process of planning and exacting the exchanges and satisfy organizational objectives. A sound marketing plan must have objectives that are Specific, Measurable, Attainable, Realistic, and Timely. (SMART)
The following are some of the company objectives - ; To provide high quality products, which stand out from the competition ; Create an image of the brand that is reliable, safe and scientifically sound ; Produce ads that are catchy and lend credibility to the products ; Stimulate awareness of the brand over a 24 month period while maximizing profits Issues ; Incorporating faces and names that bring credibility to the band and its claims ; Establishing the most appropriate marketing channels and value networks ; Positioning the products as giving the most value for money spent and measuring the regress made Marketing Mix Strategy Marketing activities comes in all forms; Mac Scratchy classified these tools into four broad groups that he called the four As of marketing: product, price, place and promotion". Kettle et al (2009 peg 23)" The Following diagram Fig. 3 shows illustrates the 'Four P component of the marketing mix. Marketing Matrix Place Channels Coverage Assortments Locations Inventory Transport Product Product variety Quality Design Features Brand name Packaging Sizes Services Warranties Returns Target Market Promotion Sales promotion Advertising Public relations Direct marketing Prices List price Discounts Allowances Payment period Credit terms Source, Kettle et al. (2013) The positioning of the company is based on the fact that the both products use a natural aphrodisiac that is known to be powerful.
It is natural and the perception in the mind of the consumer is that it is a more easily available and mass produced version of a natural remedy that has been already proven. Product Bois Banded stimulates sexual impulses, thus enhancing sexual desire, it also increases the intensity of orgasms and delays ejaculation. Our product by volume as a higher concentration of the active ingredient, Bois Banded, (MGM) than any other product on the market and substantiates this claim on the label in the 'Nutritional Facts', which is a big part of our marketing scheme, since our competitors have avoided revealing their concentrations at all costs. The wine itself has an alcohol content of 14% by volume, and can be consumed as a compliment to lunch or dinner so that it appeals to people who do not go to bars as well.
The packaging is attractive and features a picture of the actual bark of the plant suggestively placed in the hands of an attractive woman. It has a robust taste which places it above its competitors. The product comes in two sizes, 750 ml and mall, ideal for both individual consumption and for home use over time. Bois Banded tea, is made from the leaves of the plant and contains elements that help with blood purification in addition to the aphrodisiac function. The box and packets display the plant in a forested setting to portray the natural element of the product. Price I intend to use the Maximum Current Profit objective. Based on the prices of the competition, I can afford to add a 20% mark up to the products cost that customers ill be willing to pay.
The aim is to put Bois Banded wine in every bar and every liquor section of every grocery in the country. While department stores and parlors are among the retailers for the product, the volume of daily traffic in popular groceries will help to increase awareness of my brand once it is properly displayed. The mall bottles of Bois Banded wine are placed in large bins, similar to the ones used by Red Bull. The Bois Banded tea can be found everywhere that tea is sold, from convenience stores to large "Other than target market and advertising, promotional activities are also critical actors for business performance" (Craig et al 1997) Singers, television personalities and local athletes are among some of the brand ambassadors for Bois Banded wine.
The TV ads feature a real life doctor highlighting the benefits of the product while the newspaper ads and billboards feature sexy women in revealing attire. Free sampling and other giveaways are some of the promotional activities that will boost customer awareness. Positioning Strategies Positioning involves implanting the brands unique benefits and differentiation in the customers mind (Kettle and Armstrong 2004 page 259). The positioning of the many is based on the fact that both products use a natural aphrodisiac that is known to be powerful. It is natural and the perception in the mind of the consumer is that it is a more easily available and mass produced version of a natural remedy that has been already proven to work.
Celebrity endorsement in radio and television ads is the fastest way to draw attention to the product and will be used along with product sampling drives to increase customer awareness. In addition, we will have real life doctors in our advertising campaign that will lend to our authenticity as well as flyers promoting the said benefits. The aim is to establish in the mind of our consumer that our product works to increase market share. The initial price will contain a 20% markup that will set the product in the price range of its competitors. After the first 24 months, the price will be reviewed to reflect a projected increase in demand and allow for profit minimization.
The price, promotion, place and product all work together to send a message to the customer that the brand is reputable and legitimate, in an industry that is questionable. Consumers will attach trustworthiness and reliability to the brand based on the Market Communication. Competition There are two major competitors for Bois Banded wine and one for Bois Banded Tea. All the competitors for both products have been on the market for a longer period of time, and have the benefit of experience to their credit. The perception of these products that compete with Bois Banded Wine has always been gimmicky, based on their unverifiable claims and variations in consumer results. Boise Banded wine will deliver a higher level of customer satisfaction and turn that into a selling point.
Competitors of Bois Banded Wine Magnum Tonic Wine * Marketable size * Reasonable price * Well distributed * Readily available Cornea's Hard Wine * Available in several sizes * First product of its kind on the market * Reasonably priced * Celebrity endorsement Lipton Tea: * Strong brand name and image * Good promotion * Health oriented Marketing Strategy Planning Gilligan & Wilson (2009, p. 17) describe 'Strategic Marketing Planning' as" a continuous process. This includes selection of marketing strategy, which may include leveraging marketing assets, developing routes to market and strengthening image and reputation, among others" Points of Parity (Bois Banded Wine & Competitors) We all offer aphrodisiac elements in our products