International Marketing Research Homework.
Through celebrity endorsement, it makes consumer attracted and aware of its offering.
Place- it has wide distribution channel which enables it to reach the maximum consumer.
Price- adopted premium pricing. And projected it product very natural with innovative flavors.
Promotion- launched several ad campaigns to make the consumer awareness about the product. Mainly depends on the celebrity endorsement.
So all this strategy of the Snapple leads him to have success and through this, its position its product in the customer mind.
Quaker did wrong in the sense that is overpaying in 1994, despite warning from the Wall Street that the company was paying $ 1 billion too much, the company acquired Snapple for the purchase price of $ 1.7 billion. Besides this, no proper advertisement and promotion were carried out in a way to inform the consumer and to make them aware of the offering. That is a reduction in the advertisement was found which is also wrong not good for any company.
The tactical decision did not work for the Snapple brand as Quaker thought that it may use the same distribution channel but the distributors denied to serve the same channel. Which leads all the tactical decision into vain.
Triac’s strategies for turning things around are
Launched new products- in a way to earn more revenue more customer are to be served and this will be only done by providing the product what consumer want so launching of the new product will meet this strategy (Jackson et al., 2008).
Do nationwide promotion campaigns and contests- to make the maximum global consumer awareness about the new product and brand. And to make the possible maximum reach. This will also lead to a global presence and it will build a positive global image.
Television advertisement and brand extension.
So through these above tactic things can be turned around and solved as it will increase the volume of Snapple and may also enhance the market share, and increase the revenue also up to the desirable level.
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Raggio, R. D., & Leone, R. P. (2009). Chasing brand value: Fully leveraging brand equity to maximize brand value. Journal of Brand Management, 16(4), 248-263.
Jackson, S. E. (2008). Strategic opportunism. Journal of Business Strategy, 29(1), 46-48.