Crown Iced Tea Executive Summary
Royal Crown Cola
“Crown Iced Tea”
I. EXECUTIVE SUMMARY
- This marketing plan is going to introduce the new innovative product by ROYAL CROWN (RC) which is named as “Crown Iced Tea”. It would be a convenient product which will be readily available to quench the thirst of our customers and it would also give the nutritional benefits of tea. It can be served as a lemon or apple iced tea. Both flavors will refresh the drinker. It is also available in can and in PET bottle. There are no weather constraints for the product, so you can drink this iced tea variant in any weather. Our target markets are mainly from retailers, wholesalers and direct consumer. This product will be initially introduced within Metro-Manila Area, because of much higher-
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- TARGET MARKET 3:
- Consumers that are health conscious that prefers iced tea than soft drinks.
VI. MARKETING MIX
- Product Strategy- Crown iced tea beverage is pre-bottled and ready to drink format. It will be a convenience product. RC Cola is introducing an existing beverage (Crown iced tea) but redefines the drink with a new, more convenient package. The performance quality of Crown iced tea will be that it will produce what its function, is to cool nature of the product. Customer can take it cold by chilling it in deep freezer.
- Pricing Strategy- RC Cola cannot set a price that is too high because competitors will be attracted by potential profits and will follow by a lower price. One of the central objectives of this product is to become market leader in functional drinks. RC Cola is willing to stay within the same price bracket among the top competitors, and if not becoming the greater, by achieving a certain target profits. This will obtain by establishing a price that will largely cover variable and fixed costs while bringing high price. The company sets its target price based on customer needs and wants of the product value. The targeted value and price then drive decisions about product design and what cost can be incurred and the pricing begins with analyzing consumer needs and value, and price is set to match consumer’s
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