February 3, 2018 at 5:36 pm #9921Abhirup BhattacharyaKeymaster
Sadhna Srivastava is the marketing manager for Milky Chocs, a leading chocolate brand. She has recently found that Valentine’s day is a great opportunity to launch a new brand. The chocolate is of strawberry flavor and is ready to be packed. She quickly hires you and your team to provide her a plan to execute this brand.
As a team, create a plan with a 10 day launch strategy and day wise break-down of the execution. Discuss various options and provide a budget estimate to the client.
All the best
Founder , Ideasmakemarket.com
MBA Finance, NMIMS, Mumbai 2011-13February 3, 2018 at 10:03 pm #9949parul singlaParticipant
our main motive is to launch a new chocolate on valentine’s day.
1st and 2nd day-we should first target the customers.We must collect and analyse the data with more youth population,age 17-25years.We can target metropolitan cities like bangalore,mumbai,pune,delhi. Also team should do research on its competitors,their strategy and where they sell.
3rd day- name of the product-It should be catchy and striking . it can be chocoberry .company should also have a flashy tagline .also should involve members to give some suggestions for the name
4th day- now team should focus on packaging-Packaging will be a major investmentIt should be attractive like pink and white in colour as these colors will reflect the theme of valentine’s day. Other thing is ,choc can be categorised into small,medium ,large and the price to be set accordingly
and can have chocs of different design.
5th and 6th day- . now on these 2 days ,they can visit malls of selected city and can coduct a contest where couples can participate and can have prizes for best couple,best walk on a ramp,most compatible etc and for prizes can give them a hamper of their products.
on the days left, they can visit colleges ,schools for trial of their product and get a review . for trial they can give them a small chocolate of rs10. And if they like the choc ,boys usually prefer a large choc to give on a valentine day.they can even have a scheme of giving a small choc on purchase of their old products. television,newsppaers can be the best medium for advertising their products .They can even create their online website which have differnt gifts for valentine day like a chocolate bouquet,customised chocolates etc.
As far as budget is concerned,they can have funds from their previous products.since milky choc is already a leading choc brand and has its huge market share,customers,investors will trust the company easily and therefore they wont be able to face huge financial issue.February 4, 2018 at 7:25 am #9955Akanksha ChaudharyParticipant
Our aim is to launch the new valentine’s day special strawberry flavoured chocolate.
Milk choc is a local chocolate company which sells chocolates to around 10 cities in U.P, on an average population of each city is around 5 lacs, and around 30% of population lies between 15-35 years- she is targeting this age group as in India only this particular age group expresses their love and purchases her chocolates.Price of each chocolate bar is 20Rs, so she is hoping to sell her chocolate to around 15 lacs people and hope to generate the revenue of around 3 crores, manufacturing cost to make one chocolate is around Rs. 10 which includes packaging and distribution, her net profit would be around 1.5 crores.So her upper limit for advertising and marketing cost is Rs 40 lacs.
First thing that attracts a customer is the packaging of a product which should clearly describe what it is selling and why it it is selling this product. So cute short love shayaris and poems on the cover will do some magic.
Online engagement campaigns on social media like fb, twitter, instagram and snapchat should be designed targeting the required age group in those 10 cities.Snapchat stories suggesting to treat your loved ones with something sweet and extensively advertising on other social media platform espically focusing on all special days of valentines week.online campaign would not cost much.
Newspaper ads- witty headlines and a little description about the product would be sufficient but as the valentines day approach it should also become full fledged front page ad on the leading newspapers of those 10 cities. This should not cost more than 10lacs.
Radio- Leading radio channels should be used and timings and those ads should broadcasted around 8-10 am in the mornings and 5-8 pm in the evenings, as these r the timimgs when a working class professional travels and they listen to radio while travelling. Content of those ads should be funny and should have day specific catch phrases. This should not cost more than 5 lacs.
Television- Hiring local models to do an ad may go out of budget…so animated ads could be used instead.This should also be day specific covering each day of a valentines week. 80% of the rest of the budget could be used for this.
Banners and posters near malls and prime city locations can be put up from rest of thr budget.
If sales of the product is exceeding all expectations then lucky customer awards could also be given.February 4, 2018 at 2:27 pm #9959Ashay DharodParticipant
We have been hired to launch of new choclate brand for valentines day.
We have ten 10 days to launch and strategies its marketing .
Day 1) We have to think about a name and catchy tag line , which can eventually help us in marketing .
Day 2) As Milky chocs is already a brand ,they must be having contacts with several dealers all over the Country . We can talk with them about this product , attract them with decent margins , so they will sell the new choclate to retaliors .
Day 3) Packing is very important . As good packing attracts consumers as they want to give this choclate as a form of gift . So attractive packing is important aspect in its launch.
Day 4 & 5) Research about the competitors products , its marketing strategy , its loopholes , which can help to prepare our own strategies.
Day 6) There shlould pre launch campaign near colleges and corporate places . We can ask them to taste the Choclate and collect their review about the choclate and accordingly make the changes and move forward .
Day 7 . Rope a Young Public Figure for Promotions and Advertisements .
Day 8 and 9) Research about
Day 8,9 and 10) Start Campaigning on social media ,google ,radio ,hoardings and TV advertisments . Extensive advertisments can help to generate higher sales . Start having consumer engagement .
This can be idle way to launch new products .February 4, 2018 at 2:35 pm #9960Aashanaa BothraParticipant
@parul – as the brand is already established and the product is on packaging level I don’t think market analysis is needed As it is done much prior to packagingFebruary 4, 2018 at 2:53 pm #9961February 4, 2018 at 3:49 pm #9966Anantraj SinghParticipant
One important thing which is given here is that the product is ready to be packed, so it would be safe to assume that things like market analysis, defining the target audience and competitor analysis is already done, our job particularly is to give a comprehensive plan to market the product.
Day 1, 2) We can start by coming up with a catchy name which could go with the valentine’s day mood.
Day 3, 4) Then we should focus on identifying the place of launch which would mostly be offline stores along with a few of e-commerce sites. Larger part of the budget should be allocated to the offline store launch here. Communication with store vendors should also be a part of this.
Day 5,6,7) After this, a large chunk of the budget should be given to advertisements and the main focus should be on aesthetics. Advertisements could also include discussing some healthy ingredients like nuts and fruit used in the chocolate. Since Milky chocs is a leading brand so it could probably afford to rope in a young Bollywood actress(targeting youth audience) for TV advertisements.
Day 8,9) Sharing the ads on social media like whatsapp, instagram and snapchat would help. Alongside this, maintaining a facebook page where everyday a new tagline which would goes with the valentine’s weekday(e.g rose day, hug day etc) could be introduced. Also putting up hoardings near colleges where we have the majority of our target audience would help.
Day 10) Lastly we should focus on the math, since we also need to provide the budget estimate, we could provide a total estimate as @Akanksha explained and also give the breakdown for various allocations in it.
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