8. Identifying The Product/Brand to be Marketed Flashcards
What is the products life cycle stages?
Introduction
Growth
Maturity/Stabilisation
Decline
What is the focus of the introduction phase of the life cycle?
Getting the product to market and gain recognition and reputation.
What is the focus of the growth phase of the life cycle?
Increasing the distribution, aim at a wider target market and strong growth
What is the focus of the maturity/stabilisation phase of the life cycle?
Highlight the differences between the product and the competing products.
What is the focus of the decline phase of the life cycle?
Facing the prospect of declining sales, steps to extend the life cycle need to be taken, improving the product, updating packaging, reducing price to make it more competitive.
How can a positive image be achieved in a consumers mind?
Substance Consumer trust Consumer engagement Brand story Price premium Longevity Strong brand name Brand position Private label Brand ladder Soft brand Luxury brand
How can you tell a wines story?
What is the producers history?
Where are the grapes grown?
How is the wine made?
Is there a story behind the name of the wine, the label design or the bottle design?
What are the four brand position?
Value
Standard
Premium
Super premium
What are the three ladder brand rungs?
Accessible
Stretch
Aspiration
What is an example of ladder branding in champagne?
Accessible - pol roger nv
Stretch - pol roger vintage
Aspiration - pol roger cuvée Winston Churchill
What are the 10 most powerful global wine brands in 2020?
Yellow tail - Australia Casillero del Diablo - Chile Gallo Family Vineyards - USA Jacob’s Creek - Australia Barefoot - USA Gato Negro - Chile Carlo Rossi - USA Frontera - Chile JP Chenet - France Mouton Cadet - France
What is a soft brand?
Used to describe any cue used by a consumer when choosing to buy one product over another. Such as a country of origin, region, geographical indicator, grape variety or even style of wine
What is a luxury brand?
There is no agreed definition of what make a luxury brand. Tend to be super premium priced wines which only a very few consumers can afford.
What is a private label?
A retailer or HoReCa create a range of wines from different regions under their own brand name. Only available from the retailer/HoReCa that created the brand.
