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Product Strategy Zipz Juice for Generation Z Cath Connell 21369666 Shaheen Evans 12860646 Jodie...
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Transcript of Product Strategy Zipz Juice for Generation Z Cath Connell 21369666 Shaheen Evans 12860646 Jodie...
![Page 1: Product Strategy Zipz Juice for Generation Z Cath Connell 21369666 Shaheen Evans 12860646 Jodie Richardson 20196946 Adeline Tang 21218471 Liya You.](https://reader035.fdocuments.in/reader035/viewer/2022062907/5a4d1b767f8b9ab0599b7528/html5/thumbnails/1.jpg)
Product StrategyProduct Strategy‘Zipz – Juice for Generation Z’Cath Connell 21369666Shaheen Evans 12860646Jodie Richardson 20196946Adeline Tang 21218471Liya You 21245517
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Product Strategy – Group 3
AgendaAgenda
• Background• Market analysis• Idea generation
and screening• Concept testing• A new product!
• Business analysis
• Development and testing
• Launch strategy
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BackgroundBackground
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Product Strategy – Group 3
BackgroundBackground
• Part of the Australian psyche• Farmers as owners • More than just pineapple• Markets under threat
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Product Strategy – Group 3
Environmental factorsEnvironmental factors
Demographic, social and economic• The new baby boom
– The highest birth rate in Australia since 1971
• Women’s workplace participation rates– Older mums (and dads)– Time poor / cash rich – The guilt factor
• Multiculturalism
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Product Strategy – Group 3
Environmental factorsEnvironmental factors
Environmental• Waste and where to put it
– Reduce, reuse, recycle• A water crisis
– Effects on agriculture– What do we drink now?
• Global warming– Local product vs carbon miles– Employees are consumers
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Product Strategy – Group 3
Environmental factorsEnvironmental factors
Health• Childhood obesity
– Sugars bad, fruit good– Making healthy food choices appealing
• Healthier lifestyles– Exercise and sports drinks– Nutrition awareness
• Organic and chemical free foods
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Product Strategy – Group 3
RivalryRivalry
• Market concentration of major retailers, Coles and Woolworths– Buyer power being exploited with
release of premium Private Label brands– Potential barriers to entry
• Acquisition of competition by large multinationals e.g. SPC Ardmona
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Product Strategy – Group 3
SWOTSWOT
Strengths• Australian• Brand• Experience• Innovation• Marketing success• Producer
relationships
Weaknesses• “Old fashioned”
perception • Lack multinationals’
market power• Lack multinationals’
capital• Environmental
status
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Product Strategy – Group 3
SWOTSWOT
Opportunities• Healthy kids• Healthy and active
adults of all ages• New mums• Water products• Concentrates• Organics• Export
Threats• Nutritional
Guidelines – high sugar content
• Retail private labels• Dilution of
“Australian Grown” positioning
• Competitors being first to market
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Idea ManagementIdea Management
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Product Strategy – Group 3
Idea ManagementIdea Management
• Link New Product strategy, corporate strengths with Global Trends– Convenience– Health– Taste and Indulgence– Ethical
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Product Strategy – Group 3
Idea GenerationIdea Generation
• Kids snacks• All natural fruit jellies • Fruit based lollies - compete
with Natural Confectionery Company
• Icy poles• Fruit strips/leathers• Snack packs - tropical & berry
flavours• Dried fruit bars• Shaped fruit snacks (e.g. US
Kelloggs Lego and StarWars)• Juice straw• Diluted Juice – ‘Kids Juice’
• Gourmet/Luxury ideas• Exotic flavoured jams• Alcohol infused fruit• Frozen fruit desserts• More exotic/healthy juices • Other• Frozen fruit juices (for cooking)• Squeezable Jams• Organically grown range (would
need forward planning - minimum 2 years for certification)
• Healthy snack packs with yoghurt
• Vending machine snacks - crackers & jam, pikelets & jam, adult fruit snacks
• Health/sports drinks
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Product Strategy – Group 3
Determining the Need for Determining the Need for IdeaIdea
a. Types of Need– Health, Convenience, Indulgence, Ethical
b. Timing of Needs– Daily, repeat purchase, variety of contexts
c. Trial Risks– Variety of fruit flavours, low risk
d. Controllable Marketing Elements– Taste, flavour, colour, presentation, feel
e. Market Share, Conduct and Performance– New product in existing market– Generate brand awareness
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Product Strategy – Group 3
Idea ScreeningIdea Screening
• Consideration of the Ansoff Product-market matrix
ProductsMarkets
Existing NewExisting Market
Penetration- Review distribution channels e.g. Golden Circle vending machines
NPD- Juice straw- Diluted kids juice- Athletic/medicinal rehydration
New Market Development- Teens- Young active adults
Diversification- Premium fruit products (pubs/café’s, use with alcohol)
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Product Strategy – Group 3
Concept 1 – Kids JuiceConcept 1 – Kids Juice
• Diluted juice
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Product Strategy – Group 3
Concept 1 – Kids JuiceConcept 1 – Kids Juice
• Rationale– Extending Junior juice concept to ‘Tweens’ (8-14
y.o.)– Convenience
• Cost saving– Taste
• Uniqueness is ‘Dilution’ Factor, with added vitamins• Variety of flavours• Appealing to Tweens
– Health• Threat from New Guidelines
– Unique packaged goods• Tetra and take home pack
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Product Strategy – Group 3
Concept 1 – Kids Juice ScreeningConcept 1 – Kids Juice Screening
• Relative Advantage– saturated market, many competitors, focus is segment of
Tweens based on Health megatrends– Marketing opportunity considered limited, cool factor?
• Complexity– Developability simple, manufacturing – extension of current
process, therefore cost is considered marginal, developing low sugar, diluted juice to meet Australian Health Standards
• Compatibility– In line with strategy of increasing brand awareness
• Communicability– Simple marketing strategy of health, low sugar, low calorie
alternative, suitable for Tweens, mums and health conscience such as diabetics
• Trialability– Simple Process
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Product Strategy – Group 3
Concept 2 – Juice StrawConcept 2 – Juice Straw
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Product Strategy – Group 3
Concept 2 – Juice Straw Concept 2 – Juice Straw ScreeningScreening
• Juice StrawsRelative Advantage – – first to market – no direct competitor – cost advantage– mobile, convenient– healthy– environmentally
sound
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Product Strategy – Group 3
Concept 2 – Juice Straw Concept 2 – Juice Straw ScreeningScreening
– Compatible with water or alcohol, can directly source fruit from Golden Circle range
– Complexity – simple idea, mechanism, consumable
– Divisible – can have different flavours, can tailor for consumers
– Communicability – easy to market, cool factor
– Trialability – using current product (Sipahh)
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Concept TestingConcept Testing
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Product Strategy – Group 3
Concept testing – 1 & 2Concept testing – 1 & 2
Tweens (kids aged 8-14) needs• Tasty • Cool - packaging design, product name, fad…
• Easy to carry and use – convenient
• Flavour variety
• Nutritious
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Product Strategy – Group 3
Concept testing – 1 & 2Concept testing – 1 & 2
Parent’s needs• Nutritious• Safe• Easy to carry and use – convenient
• Flavour variety
• Cheap• Environmentally sound
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Product Strategy – Group 3
Product attributesProduct attributes
Concept 1 Kids Juice• Not cool• Variety• Bulky to carry• Heavily packaged• Followed nutritional
guidelines• Not good value for
money (buying water)
Concept 2 Juice Straw• Cool factor• Convenient, easy to
carry anywhere• Tasted good• Variety• Easy to use• Followed nutritional
guidelines• Cheap• Environmental
(reduced packaging)
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Product Strategy – Group 3
Concept testing – 1 & 2Concept testing – 1 & 2
Screening Map - Juice v Straw
0
20
40
60
80
100Fit with Engineering Know-how
Estimated Development Costs
Potential Market SizeAvoiding Large Competition
Fit with Distributors
StrawJuice
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Product Strategy – Group 3
Concept testing - QFDConcept testing - QFD
Manufacturer desired product attributes
• Healthy– nutritious, organic & chemical-free
• Environmentally friendly• Maximum utilization of produce• Branding
– linking with awareness strategy
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Product Strategy – Group 3
Concept testing - QFDConcept testing - QFD
customer needs healthyenvironmentally
friendlyutilization of
produce branding weighttasty 1 0 0 2 4.5cool 1 0 0 4 5
convenient 0 0 0 1 3.5
variety 1 0 0 2 3.5nutritious 4 0 0 1 3
safe 2 2 0 1 4cheap 0 0 4 1 2.5
environmental 1 4 0 1 3importance degree 36 20 10 52 118
normalised importance degree 0.31 0.17 0.08 0.44
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A new product!A new product!
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Product Strategy – Group 3
Zipz – Juice For Generation ZZipz – Juice For Generation Z
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Business AnalysisBusiness Analysis
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Product Strategy – Group 3
Business AnalysisBusiness Analysis
• Only one similar product in the dairy market – Sipahh– Sipahh’s selling price is 40 cents per
straw• Zipz’ selling price will be set at 40
cents per straw• Zipz is categorised as Reconstituted
100% juice market
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Product Strategy – Group 3
Business AnalysisBusiness Analysis
• Assumptions:– Convenience Factor
• Can be used with tap/bottled/sparkling water– Alternative/Substitute
• Bottled flavoured water– People carry their ‘own’ water
• Tap water OR bottled water– Sales Volume
• Single Use• Multipak
– Technology is accessible via licence with Unistraw– Unistraw is keen to form partnership– Technology can be applied to fruit juice
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Product Strategy – Group 3
Business AnalysisBusiness Analysis
• Cost Structure*– Purchases = 71.6%– Wages = 8.4%– Depreciation = 4.4%– Utilities = 1.3%– Rent = 0.3%
* IBIS Report, Fruit Juice Drink Manufacturing in Australia, 7 September 2007
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Product Strategy – Group 3
Projected Profit & LossProjected Profit & Loss
2008 2009 2010 2011Revenue $14,033,565 $20,434,050 $24,946,740 $25,309,440
Gross Profit
$4,139,901 $6,028,044 $7,359,288 $7,466,284
Expenses $2,020,833 $2,942,503 $3,592,330 $3,644,559
Licensing fees
$421,006 $613,021 $748,402 $759,283
Marketing costs
$1,403,356 $2,043,405 $2,494,674 $2,530,944
Net Profit $294,704 $429,115 $523,881 $531,498
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Product Strategy – Group 3
Projected sales vs fixed and variable Projected sales vs fixed and variable costscosts
$-
$5,000,000.00
$10,000,000.00
$15,000,000.00
$20,000,000.00
$25,000,000.00
$30,000,000.00
2008 2009 2010 2011
Total Fixed CostsLicensing feeTotal Marketing CostsStraw sales
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Product Strategy – Group 3
Breakdown of Marketing Breakdown of Marketing CostsCosts
Projected Marketing costs
10%
35%
35%
20%
Market researchAdvertisingSales and PromotionPackaging and Distribution
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Product Strategy – Group 3
Break Even AnalysisBreak Even Analysis
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
0 10000 20000 30000 40000 50000 60000Unit ('000)
Sale
s ('0
00)
Straw sales
B/E $
Linear (Strawsales)
• Number of units to break even = 40,019,161• Number of packs to be sold to break even =
4,019,161 = $16,007,664
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Product Strategy – Group 3
Awareness-Trial-Repeat Awareness-Trial-Repeat model model
Total family household with children* 2,400,000
% of those who became aware 50%
% of those who try the product 60%
% of those who will repeat 40%
Average number of ‘repeats’ per annum 47
Unit cost per bottle (after trade margins)
$0.12
* Euromonitor International, Consumer Lifestyle – Australia, June 2006
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Product Strategy – Group 3
Return on Investment (ROI)Return on Investment (ROI)
• The return on Investment over the projected 4 years is 289%
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Product TestingProduct Testing
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Product Strategy – Group 3
The ProductThe Product
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Product Strategy – Group 3
Product Testing - viabilityProduct Testing - viability
•Product Related Decisions– Holistic/component
• Realism – whole product, consumerable or convenience item
• Consider testing variants of fruit range to determine likely take up rate or modification to flavour/taste
– Disclosure of identity• Branded supported by full product mix – flavours of
Golden Circle– Explanation of usage
• Normal, with usual instructions – consumerable, simple and easy instructions
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Product Strategy – Group 3
Product Testing cont…Product Testing cont…
Sample Decisions• Identification of testers• No need for expert panel
– Ad hoc sample, no need for experts or consumer panel• Large Sample size
– product is small, portable, quick to test, consume.• Sample segments
– Tweens and Mums – Phase 1– Athletic, sport and rehydration (Future – clubs/pubs) –
Phase 2
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Product Strategy – Group 3
Product Testing cont…Product Testing cont…
Measurement Techniques and Questions• Closed and open questions
– Combination of closed and open– Closed/focus on flavour, taste, satiety,
presentation, convenience, cost, frequency of use, etc...
– Open questions – emotions – feelings of refreshment, intended use, what would make you use this product long term? Cool factor? etc...
• Diagnostic and PI questions– How likely are you to buy this product for
you/child based on cost?
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Product Strategy – Group 3
Product Testing Cont…Product Testing Cont…
• Location of Test – given comestible product
– Initial alpha test – internal marketing with staff and their children – efficient, low cost exercise, initial litmus test
• Data Collection Methods – Structured and unstructured
• Questionnaires• Unstructured Recording of feedback
– Face to face interview at location of tests
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CommercialisationCommercialisation
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Product Strategy – Group 3
The ProductThe Product
• Final Product – Zipz - juice for generation Z
•Orange•Pineapple•Berry
• Estimated annual sales units = 40m
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Product Strategy – Group 3
Revisit prior to launch:Revisit prior to launch:
• Technology improvements • Selling points/benefits• Improved packaging concepts• Production improvements • Warehousing and transportation• Competitive threats
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Product Strategy – Group 3
Packaging – unit levelPackaging – unit level
• Base unit packaging– Individually sealed – Zip locked assembly if cost effective– Biodegradability – Ease of opening – Lightweight – Durable– Convenient – Eye catching design
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Product Strategy – Group 3
Packaging – outer pack & Packaging – outer pack & SRTSRT
• Outer pack & Shelf Ready Tray (SRT)– Eye catching design– Easy to use– Fits with retailer shelving requirements– Environmentally friendly– Warehousing and transportation
efficiency– Meets NPC requirements
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Product Strategy – Group 3
• Warehousing – Warehousing method (JIT, Trigger point)– Buffer stock requirement– Location – Environment required (ambient or chilled)
• Transportation– Top load or base load– Environment required (ambient or chilled)
• Existing Distribution Channels
Warehouse & Transport Warehouse & Transport NeedsNeeds
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Product Strategy – Group 3
Packaging DesignPackaging Design
• Vibrant and “cool”• Easily recognisable • Easily understood – Zip, Sip & Go• Meets food packaging requirements • Brand awareness• Benefits• Concept tested
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Product Strategy – Group 3
Launch StrategyLaunch Strategy
• Penetration strategy– Launch timing
• Summer during school holidays– Impersonal media channels
• Television• Teenage magazines• Viral marketing
– Personal media channels• Giveaways during concerts• Sporting events
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Product Strategy – Group 3
Product MessagesProduct Messages
• Product:– “Zipz - juice for generation Z”
• Primary Message: – “Don’t be boring this summer – Zip it!”
• Instructions– Zip it, Sip it, Go!
• Secondary Messages (benefits):– Low sugar– Added vitamins– Free from artificial colours– Free from artificial flavours– Free from artificial preservatives
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Product Strategy – Group 3
EndorsementsEndorsements
• Endorsements by upcoming starlets– Big Brother entrants– Australian Idol entrants– Justification:
• Fees will be lower • Need to be rotated frequently • Well known to majority who vote• Temporary cult status
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Product Strategy – Group 3
AssumptionsAssumptions
• Short Life Cycle– Novelty factor may “wear off”– Due to competitor threats
• Sales require close monitoring– Identify change in sales volume to
identify growth and maturity phases– Prepare to launch Phase 2 – Monitor trend changes– Launch promotional strategy
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Product Strategy – Group 3
Additional ConsiderationsAdditional Considerations
• Co-Branding opportunities – McDonalds or fast food chains– Sporting events– Concerts– Warner Brothers
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Product Strategy – Group 3
SummarySummary
Zipz - juice for generation Z• Objective: increase profitability • Strategy: penetration marketing launch• Measures: Critical trigger point to reposition• Corrective Action: relaunch into new markets (Phase
2) and product extensions• Revisit customer needs and product benefits
ongoing• Determine trigger point for product deletion when
required.Don’t be boring this summer – Zip
it!