The objective of both is to maximize their profit. Hence, we can say that these 2 players are involved in a non-cooperative game, the objective being to garner the most profit, and capturing market share being the most effective way to do so. Since Coke and Pepsi are perfect substitutes, the price elasticity of demand should be perfect elastic. However, there are some factors that results in a fairly elastic demand. When Coke increases its price, most of its customers that are highly sensitive to price changes will switch to Pepsi due to the similarity of the taste.
Red Bull The Red Bull GmbH is an Austrian beverage company, headquartered in Fuschl am See. Its most popular product is the energy drink “Red Bull”. The company is also know for its sponsorships of a big range of sporting events. At the end of 2014, they employed 10.410 people in 167 countries and sold more than 5.6 billion cans (Red Bull, 2015). Red Bull is according to Forbes on place 76 of the most valuable brands in the world.
The goal of the MMT is to ensure that AllStar Brands’, Allround has the highest stock price and income in the industry. To be successful in the area, the team will work to introduce new products and improve existing ones in order to remain competitive in the industry. Key Success Factors In order for Allround to successfully execute is marketing strategy. The MMT team will work towards the following key success factors: • Utilizing one or both of two reformulation opportunities: The MMT will carefully consider its two options either to remove the cough suppressant or the alcohol for its formulas. Although both formulas provide relief and rest to consumers, the team will look into the concerns that the consumers view alcohol as a negative attribute.
The pricing strategy adopted by them is 'market skimming '. As they want to grab the maximum share of the market by maximum profit, they have adopted this pricing strategy. This is a golden era for Dominos pizza, as there is only one competitor and, Dominos is free to charge any price they want. Due to the uniqueness of their products, Dominos charge higher prices. As their food quality is worth the price paid they can easily satisfy the target market.
So far Apple has succeed in creating demand for its products which gives the company power over prices through product differentiation, innovative advertising, ensured brand loyalty, and a hype around the launced of new products. By focusing on customers willingness to pay more and mantaining a premium price at the cost of unit volume, Apple has also set an artificial entry barrier for its competitors. (Nielson,
Public relations is no different as professionals constantly seek to communicate with and hear from customers, who are ever-present and active on social media. It, therefore, makes sense for PR practitioners to use it to their advantage as much as possible as so it has become an integral part of their practice. The purpose of this report is to find out how public relations professionals are using social media, the impact and implications this new media have on the public relations profession and how public relations professionals value these new media as a means to communicate with the public. Literature
Thumbs up, Maaza and Kinley are consider as the star product of the Coca Cola Company. This is because the refreshment sold to customers are mainly from India and United Arab Emirates, which contributes the most cash to the company as people consider this as their first choice of carbonated soft drink. The Coca Cola company believes that these three beverages have high growth and a market share. Cash Cows: A product that generates more money than they require are considered as a cash cow. This is because the product is known as the leaders of an organisation in the marketplace and company take out little fund when investing .
Vans Maxed has a young and energetic look and feel, which is aimed at the target audience (O 'Neil, 2013). Goals & Objectives- Vans Maxed wants to achieve the highest amount of social network followers from our competitors. We also want to be able to clearly communicate to our consumers about Vans Maxed and the quality of our products through different marketing platforms; thus, creating a hype amongst our target audience and winning them over, becoming the top sports brand (O 'Neil, 2013). Communication Channels- Vans Maxed will use advertising in order to get our product known and make consumers aware of promotions. These will take place on social media, magazines and even brochures.
Through this it has been projected as a high value brand with best in class offering. Brand Communication Red Bull has been positioned as an unique and innovative product which targets the the consumers which share the same state of mind . They may be from different demographics but they all drive to suceed, are dynamic, risk takers, physially fit, can handle stress and the DOERS. The brand communicatio through various modes of advertising, PR, ATL, BTL conveys this underlying message to the audience. Different modes of Brand Communication have been discussed below: Advertising Red Bull’s advertising campaign revolves around the slogan Red Bull gives you wings.
”. The company in 2006, Red Bull has generated Euros2.6 billion throughout the world with the help of its 3,900 employees, and about 3 billion cans were sold worldwide, their production areas are in Austria, Switzerland, it has been established in 164 countries. In 2011 its growth raised up to 10% People at the beginning didn’t knew what Red Bull was made of, even the products they didn’t knew what was in it, from what is was produced. Since the company’s creation more advertising came about Red bull and how it is beneficial to the body, people liked it actually and there started to buy the drink and drink it during sports, and at parties. In 1995, Red Bull has reached Britain, in 1997 the United States, has started in California.