1.0 Target market analysis (STP)

1.1 Segmentation

Segmentation is dividing the market into segments based on geographical, demographical,

psychological or behavioral variations. As a marketer can rarely satisfy everyone with the

same product, it becomes important for him to divide the markets into segments so as to

choose one or multiple segments and then deliver tailor made products depending on the

needs and wants of the people of a segment.

We want to be a company that embraces diversity, not limiting themselves to one specific

demographic, behavioral, or geographic segment. We want individuals to appreciate how,

regardless of any little difference, that we always treat them as equals. Most adults are very

open-minded which is why they are a good target market. The company promotes

minorities and women who own businesses. It works to encourage diversity and thus set

new goals to create more inclusive businesses. This helps to increase the feeling among all

their customers that they are valued.

Adults like to see companies embrace all groups because in that way their children will

be prepared to be part of the global community where people of diverse backgrounds will

have to learn to work together to promote greater harmony in the world.

We want to be well known for our coffee as well as the relationship formed with our

customers. The typical coffee fan is that sought-after individual with high levels of

education and disposable income. But we want to target college students and business

people in general, and since our prices are affordable people with low disposable income

can also enjoy the experience of our cold coffee. We aim to promote our brand and the

coffee experience to foster human connections.

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Some of the classifications of segments are:

Age:

Age is an important factor in the sense that all kind of people are not used to with coffee

and also because of the caffeine factor.

0%

5%

10%

15%

20%

25%

30%

35%

%

18-24 25-39 40-59 60+

Age

Cold Coffee Consumption by Age

Series1

From the graph we can see that it’s mainly the young aged people who prefer cold coffees.

And since we will be providing it in cans at low costs it will be affordable as well as easily

available for them.

Coffee drinkers could be a male or female. So for us gender is not a dominant factor for

segmentation. But we have found in our survey that 59% female and 41% male consume

cold coffee.

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Comsumption of Cold Coffee by gender

41%

59%

Male

Female

Coffee Consumption by Place:

As seen in the pie chart most of the people consume coffee at home but there is good

percentage of people who likes to consume cold coffee while traveling. Therefore our

canned cold coffee will be beneficial for this segment as it will be easy to carry for them.

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Cold Coffee Consumption by Place

Other1%

Home36%

Work18%

Eating place15%

Travelling30% Travelling

Eating place

Work

Home

Other

Distribution of coffee by segment:

46% of the people like to purchase coffee from retail stores; therefore if we are able to

place ours cans on retail stores it will attract this segment of people.

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1.2 Target Market

After years of growth, the iced tea category is now a substantial global soft drinks category

in its own right. Iced coffee is one of the smallest soft drinks categories globally, but

nevertheless has grown at a small but steady rate over the last 10 years or so.

The ultimate coffee lovers would love black coffee but this isn’t for everyone. Not every is

able to have back coffee. Therefore cold, blended beverages have become extremely

popular with the young generation. There is normally more sugar and less coffee in

blended beverages, which makes the caffeine level a little more tolerable for this younger

generation of coffee drinkers. Cold blended beverages are made by blending a cold coffee

base, dairy products such as milk or cream, sugar and ice. The result is a thick, frothy drink

that is tasty and sweet.

Coffee producers are mainly adult-focused but another new and large growing target

market within the coffee industry is college-age students and post-graduate individuals.

These two segments account for the largest portion of coffee drinkers. There have been

studies showing that coffee consumption has increased with the drinker’s educational

level. Those who have finished college have bought a lot of coffee but those who are in the

post-graduate level have bought 71% more .Urban areas have the most coffee drinkers

because it is where most of the educated professionals are located as

well as the large universities. More and more individuals are becoming educated which

shows that there will be a growth in the market of coffee drinkers.

Targeting adults and young adults will be a good mechanism for us because this age level

has the same interests as the foundation that promotes arts, culture, education, and the

environment. This large portion of the coffee consuming market is attractive because we

have the money, resources, and time to cater to young adults. Customers want fast service

and/or ideas and methods that will save time. So our canned cold coffee would be the best

option for them.

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By catering to young educated adults, we will hopefully see increased profit levels now as

well as in the future as the generation ages. Drinking coffee is a long-term growing trend

that is becoming more and more popular among adults, especially the younger adults who

make up the largest portion of the market.

1.3 Positioning

Positioning is placing the product in the consumers mind. It is very crucial to position your

product properly in the market. It is the act of designing the company’s offer and image so

that it occupies a distinct and valued place in the customers mind. Our product is not very

competitive because of no direct competitors in the country. We are going to launch a new

idea which is not branding in Bangladesh at before. We are trying to create something new

or different in customer mind. There are mainly two ways for getting into the mind

a) Easy way into the mind

b) The Hard way to get into the mind

For our product we will find the easy way to get to the mind of the consumers. Easy way

into the mind entails being the leader or the pioneer. People always remember the name of

the person or thing or place which is first for any concept.

Our Position Statement :

TO Target

Customer

Upper middle & middle class

Our Brand 24 Cold Coffee

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IS Concept Cold coffee that is marketed in pre canned packages

within a reasonable price.

That Point of

difference

First time in Bangladesh, 24 Cold Coffee is offering the

product which is available in almost all retail shops.

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2.0 ANALYZE UNCONTROLABLE VARIABLES

2.1 SWOT analysis

There are mainly 2 types of competitors, direct and indirect competitors.

Direct competitors: Direct competitors are the competitors offering the same

product to the same target market. There are no direct competitors for 24 cold coffee as

this is an innovative product.

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Indirect competitors: The indirect competitors of 24 cold coffee are the different

fast foods offering cold coffee such as COFFEE WORLD, BARRISTA and other fast foods.

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2.2 Other Uncontrollable factors

Cultural factors:

Cultural values play a very important role in purchasing any kind of product or services. It

is perhaps the most pervasive influence on the consumer behavior. If a product or service

goes along with the culture then it will be able to serve in the market. In our country

according to the culture people prefer consuming tea, therefore it might be difficult for us

to motivate people.

Political Factors:

Political stability is essential for our products success, in our country this is one of the

major threats. There are strikes and other uncontrollable situations, all of which hampers

the production process as well as the distribution process. Government intervention is also

a factor; since our country is developing we might have to pay more tax to the government

increasing our production cost. This will be an obstacle in achieving our desired price of

the product.

Technological Factor:

Our country is not that technologically advanced and even if we decide to import

machineries it will be very difficult for our labor force to learn and adopt it. This will

require training sessions which in turn will increase the production cost. On the other hand

if we decide to set up our own research and development center it will be very costly for us.

Geographical Factors:

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Since our country is a low-lying, riverine country it is subjected to floods and other natural

disasters. These might harm our coffee production. Another factor might be that our

transportation system is not that great, this will definitely increase our cost and waste our

time.

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3.0 Rationale for choosing the idea

As a part of the Brand Management course we were assigned to prepare a term paper. The

objective was to create a product and develop different marketing processes as well as the

branding elements. We have selected cold coffee in pre canned form as our product.

3.1 Selecting a Product or Service

Why did we choose COLD COFFEE????

3.2 About the Generic Product

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Coffee is often thought as the energy booster that helps people to get going all day. In cases

of many, a cup of tea or coffee in the breakfast is a must for them to work all day. Many

people even have coffee more than twice a day for refreshment. Earlier coffee was thought

to have a negative effect on health. But however, current research reveals that in

moderation, few cups a day, coffee is a safe beverage that may even offer some health

benefits. The latest research has not only confirmed that moderate coffee consumption

doesn't cause harm, it's also uncovered possible benefits. Coffee may reduce the risk of

developing gallstones, discourage the development of colon cancer, improve cognitive

function, reduce the risk of liver damage in people at high risk for liver disease, and reduce

the risk of Parkinson's disease. Coffee has also been shown to improve endurance

performance in long-duration physical activities.

3.3 About the Brand

Coffee is a refreshing drink and people often seek coffee for the caffeine in it which

provides the energy. But in summer its very exhausting to have hot coffee. So, we are

offering the cold coffee in pre canned form which is portable and will provide the

refreshment without having to drip your sweat all over!!!

Some of the reasons we choose this product are

An unique product

Provides the characteristics of portability.

Refreshment in cold form

No competitors so it enables to operate in the market easily.

Advantage of being the Pioneer in the market

Availability in most shops.

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4.0 The Sequence of Brand Equity Activities

Integrated Marketing Communications (IMC): It’s a management concept that

is designed to make all aspects of marketing communication such as advertising, sales

promotion, public relations, and direct marketing work together as a unified force, rather

than permitting each to work in isolation. It is a process for managing customer

relationships that drive brand value primarily through communication efforts.

To build strong brand equity of our product we will use an intensive marketing

communication programs through different media channels that reaches our target

customers well. These are some communication media discussed below through which we

are going to market our product and increase brand equity for the product.

1. Television Commercials (TVC): We have judged that TVC is the most effective tool

of communication in case of our product 24 Cold Coffee to generate the awareness

of the product among the target market. We are going to lounge several TVC’s

developed by renowned advertising firms in the country. The coverage will be

intensive including several popular local TV channels. The idea will be building

awareness, interest, desire and adaptation of the product through informative,

persuasive and reminder attributes.

2. Print Media: Print media including billboards, newspapers, leaflets, magazines,

handouts, posters etc. will be used in different campaigns and for mass promotional

activities for the product. Attractive designs and colors will be used in all media to

make it more stylish and eye-catching for the viewers.

3. Voice Media: Radio is the most effective voice media for closer and distant target

markets. Today’s radio stations are more popular media for reaching distance. We

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are going to use different radio stations to reach our target customers with our

voice.

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5.0 Marketing mix

5.1 PRODUCT

We are going to launch the first cold coffee in the market in prepackaged form. The

present market offers both coffee in hot and cold form but only in the fast food or

restaurants which requires abundance of time to prepare and also requires time and

effort to reach the outlet. No other company is offering the product that gives the

opportunity to enjoy coffee on the move which is available in every convenient shops

such as retail shops or even small grocery shops!!! We will introduce such product

which will outshine others because of its taste, availability within reach and the

advantage of the portability. The technology for the packaging is unique borrowed from

the concept from the western countries which will ensure the quality of the product

remains stable and is convenient for the consumers to carry wherever they go. The

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position of the product in the market will be matchless in quality and also it has

abundant prospects in the market for the company to prosper. We are looking forward

to an overwhelming acceptance and liking of the product. The product will be offered in

two flavors, strong and light.

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Our product can be explained as ….

5.2 Price

It’s not always people consider only the “product” or attribute to make a purchase decision.

The shadow of price always remains a vital factor for making a purchase. Our price for the

product will be tk 35 per 300 ml bottles. In the established coffee shops the price of the

coffee ranges from 100 – 500 whereas we are offering a considerable low price.

Profit margin of the product

The profit margin is usually high because of the of being the pioneer and the

leader of such kind product.

Scale of prices

The prices are fixed on a reasonable scale so that majority of public can afford.

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Effect of competitors on prices

We will have no such effect on prices by any competitors because we are the only

company offering such type of product.

Price discounts

Not to the final consumers but it can be considered for the retail shops or

wholesale market to help shelf our product in the initial stage. Example : Agora,

Meena bazaar or the local retail shops

.

There is a basic structure for pricing which generally includes six steps. These

are

5.2.1 Selecting Pricing Objective

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There are mainly five main aspects of pricing. They are survival, maximum current profit,

maximum market share, maximum market skimming, or product quality leadership. For 24

cold coffee we will try to set the price to acquire a huge market and also will help us to

cover the cost .

5.2.2 Determining the Demand:

We are trying to attract a large consumer base extended in every corner of our country. So

we are expecting a considerable amount of prospects. Our pricing should be an effective

and attractive one. 24 cold coffee should try to offer quality products within a reasonable

price as their target market are middle class and upper middle class people.

5.2.3 Estimating the cost:

We will try to charge such a price that will cover our production, maintenance and

distribution costs. Initially, adding the fixed cost and variable cast of production, will give

the benchmark of pricing.

5.2.4 Analyzing the competitor:

24 cold coffee is the only company offering such product. So it has got no direct

competition but has indirect competitors such as Coffee world or Barrista or any other fast

foods offerrinf coffee. We will have to consider the costs, price and offers of indirect

competitors for 24 cold coffee.

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5.2.5 Selecting a pricing method:

Selecting a price is dependent on how much customer can afford to pay for the service. We

should try to keep in mind the class of the target customers. We will try to use the

SKIMMING APPROACH of pricing, which is used for pure monopolistic product / service. In

this approach firstly we set the highest prices and then gradually decreases the price of the

product / service as any substitute product / service come into the market Or demand of

our product decrease.

5.2.6 Selecting the final price:

Our price range is given below:

24 cold coffee (STRONG) : 35 TK .

24 cold coffee (LIIGHT) : 35 TK

5.3 Placement

We will divide the market into groups referred to as central zones or divisional zones. And

from each division the product will be distributed to sub divisions and so on.

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Fig : Central or Divisional Zones

Our distribution process is simple and effective to reach to the vast end of the

market. We will sell the products to the wholesaler from whom the retailer will

collect their order and thus it will be convenient to explore and to make our

product within reach to the vast end final consumers. But at times we can offer

selling our product to the retailers within our convenience for example retail

shops in Dhaka cities. The distribution process can be explained by the following

diagram :

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Fig: Distribution Process

Outlets of product located

Our products will be located all over in Bangladesh regardless of big and small

cities.

Directly sales to the consumers or via distributors

We will not sell directly to the consumers because of the extensive consumer

groups. Instead we will use the sale of the products through distributors for

easiness of company.

Transportation modes of the product

We will try to manage our own transportation system (vans, or pickups) and the

mode of transportation will be “by road”.

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5.4 Promotion

Promotion is one of the most important factor of Marketing Mix. It is used to attract more

customers towards the brands. Promotion is further divided into

Advertising

Personal Selling

Sales promotion

Publicity

Our product will be promoted through advertisements and sales promotion . We will be

using Television, Outdoor (Bill boards, posters), Print (newspapers and magazines) and so

on.

1. Advertising: We will mainly use different mediums like TV ad, newspaper ad, radio

ad, billboard, posters and so on. These IMC tools helps us to grape our target market

and make them aware of our product. TV ads are the most watched medium to

promote but billboards and poster can even have sheer impact.

2. Personal Selling : Our consumers are extended widely all over the country so it will

be very difficult to use personal selling as a medium of promotion.

3. Sales Promotion : We can offer different types of discount such as price discount or

quantity discount to the wholesaler and retailers. We can even conduct different

promotional campaigns by going to different universities or supermarkets.

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6.0 Brand Element: Mix and Match

6.1 Brand Element Choice Criteria

There are six choice criteria in choosing brand elements. For our product we have

considered these all following characteristics to select the brand name and mascot, as well

as other brand elements.

1. Memorability: Brain is a busy machine, constantly computing information. Therefore,

the easier to make it for people to memorize the brand name and mascot, the more

successful it will become. Let’s see what does our brain likes:

It likes short names: An ideal consumer brand name or a mascot name

should have two syllables. Example: Google, Wal-mart. Any name longer

than three syllables is considered as complicated to recognize and recall. So

we have chosen a three syllables brand name “24 Cold Coffee” for our brand

and “Bean Man” for our mascot.

It likes difference: As long as a name is different in its frame of reference,

our brain will go the extra mile to remember it. Example: Kodak, Exxon etc.

For our brand name, “24” and “Cold Coffee” both represent a unique

combination that differs from any other brands. For our mascot, the name

“Bean Man” is interesting and unique.

2. Meaningfulness:

Our brain likes meaning. When it can associate a mental image with a product/service, it

will remember it better. In case of our product’s brand name “24 Cold Coffee”, it bears

the meaning as well. “24” represents the assurance of availability of the product to our

consumers for 24 hours in a day. It will be available in disposable cans, so people will be

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able to carry it with them anywhere and anytime they want. “Cold Coffee” is the name of

the product offered to the consumers. For the mascot name “Bean Man” represents the

refreshing coffee bean from what the coffee has been produced. Our brain also likes

emotions. Scientists prove that emotions enhance memory. Therefore, any name that

can elicit emotions is easier to memorize. Our brand name and mascot name have a

persuasive effect on consumer’s mind to remember its meaningfulness.

3. Likability:

Likability comes from fun and interestingness of the object. People generally like something

that’s funny and interesting to them. Our brand name has those interesting characters that

make people more curious about the product. In case of our mascot, it’s so funny that

people will feel joy even once they see it. It also has the rich visual that makes it more

interesting.

4. Transferability:

Our product name and mascot have the flexibility in attributes that makes it suitable within

and across product categories. Even these elements are developed considering the different

cultural obligations, so that it could be transferred easily across geographical boundaries.

5. Adaptability:

Our brand name and mascot have that updatable quality so that we can change it over time

with the changing taste of consumers.

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6. Protectability:

Our brand name and mascot is not registered but still we can enjoy the rights of legal

protections in case of any competitive act. But overtime we will register our brand name

and mascot to enjoy most legitimate benefits.

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6.2 Brand Name

Brand name is one of the brand elements which help the customers to identify and

differentiate one product from another. It should be chosen very carefully as it captures the

key theme of a product in an efficient and economical manner. It can easily be noticed and

its meaning can be stored and triggered in the memory instantly. Choice of a brand name

requires a lot of research. For our cold coffee brand, we have selected the brand name “24

Cold Coffee”.

Features and choice criteria considered to select our Brand Name “24 Cold Coffee”

Easy to Say: Our brand name “24 Cold Coffee” has simplicity to say. It’s very easy for

anyone to remember it and pronounce it in only two words. Syllables are only two that also

makes it easy to say.

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Easy to Spell: The name must have the spelling easiness. “24 Cold Coffee” has that easiness

criterion to spell.

Easy to Recall: People can recall those names that have a short form and the simplicity to

spell and pronounce. Our brand name bears a specific meaning thet makes it recallable for

the people.

Communicates Product Uses & Benefits: The brand name “24 Cold Coffee”

communicates the product uses by the meaning of “CC” that’s “Cold Coffee” and the benefits

by the “24” that means 24 hours availability of the product, can be purchased anywhere

anytime.

Legal Protection & Consider Media Usage: Our brand name has the legal protection by

the state government of the country. It’s not registered but can enjoy some legal

protections that represents all rights are reserved by the owner.

Distinctiveness & No Negative Connotations: The name “24 Cold Coffee” is distinct in

meanings, and it does not represent any negative connotations in case of its meanings and

even in other languages.

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6.3 Descriptive Names

Our product’s brand name falls into the criteria of descriptive brand name, where the

product name is describing some facts related to the product.

24 Hours Availability Represents the core product

Of The Product Cold Coffee

6.4 Logo

A logo is a symbol, mark or even a sign designed that represent a specific product or

service and also a company. The organization’s personality also expressed by a logo. It’s a

combination of different colors, shapes, fonts and images that bears a specific meaning and

differentiates the product or service from others in similar market.

For our product that is “24 Cold Coffee”, we have selected the logo by analyzing various

aspects and benefits that it can bring. The guideline we have followed to select our logo is

briefly mentioned below:

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(Text & Symbol Logo)

Uniqueness and recall: The logo should be unique and recognizable for the

viewers. It should get the eye catching power and the unique quality that makes it

recallable for the viewers.

Logo-image similarity: The logo should be compatible with the image. It should

reflect the company and the product. The meaning of the colors used in the logo

should suit the personality at a whole.

Simple Design: The logo design should be simple and communicable. People should

understand the meaning that it’s bearing at the firs glance. Our logo has such

simplicity in choosing colors and designs.

Transferable across cultures: The logo should have the attributes that can be used

in multi-culture and easy to change over time with the change of people taste.

Using letters & font style: Typography is a vital point considered in a logo design.

The attractiveness of the font, letters, style etc. is essential for making the logo

remarkable.

Black & White contrast: Does the logo design works in Black & White or not. So

that in case of different color situations it will still have the visual and will

communicate the meaning well.

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Color combinations: The number of colors used in the logo is important. Also the

meanings bearing by those colors are crucial in case of logo design. Colors should be

compatible with the theme and meaning.

6.5 Slogan

A slogan is a memorable motto or phrase used in advertising campaigns and other

context as a repetitive expression of an idea or purpose. It’s a phrase expressing the

aims or nature of an enterprise or an organization. It’s used repeatedly, as in

advertising or promotions. Our slogan for the product “24 Cold Coffee” is:

“Bean Me Up … Wherever, Whenever!!!”

The selected slogan for 24 Cold Coffee is “Bean me up… Wherever, Whenever”. It is

viewed as a great innovative slogan that can catch the imagination of every curious

mind. “Drink me up” is a common term that is been used on most of the soft drinks that

goes around. Substituting the word Drink to Bean has preserved the original rhyming

state of the line and implied more originality.

As we know coffee is made by the coffee beans the therefore it gives the consumers an

idea that it is coffee that the slogan is talking about.

Analyzing the slogan through the elements,

It’s to the Point

A total number of five words have comprised the slogan of 24 cold coffee. It is to the

point and it expresses the consumer that this product can be consumed at anytime,

anyplace, anywhere which is the main concept of the product that is been developed.

It’s memorable

It is something different from the average slogans that consumers here about day in and

day out. It has the potential to catch the imagination and to be permanently written in

the mind of its consumers which means that its memorable.

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It shares your vision

The company is targeting the product, 24 cold coffee to be competitive when it comes to

availability, uniqueness and cost effectiveness. “Wherever” gives an idea to the

consumers that it is available throughout the country and “Whenever” expresses that it

is a product that can be purchased any time of day.

It’s believable

Once the product is made available nationwide as planned, consumers of 24 Cold Coffee

will not find discrepancies with the slogan.

6.6 Jingle

A jingle is a short tune used in advertising and for other commercial uses. The jingle

contains one or more hooks and lyrics that explicitly promote the product being advertised,

usually through the use of one or more advertising slogans. Ad buyers’ use jingles in radio

and television commercials; they can also be used in non-advertising contexts to establish

or maintain a brand image.

“Bean me up before you go-go

Kept me hanging on like a yo-yo

Bean me up before you go-go

I need groove, I need more 24”

The Jingle of 24 cold coffee is built and constructed on "Wake Me Up Before You Go-Go" is

a song by English pop duo Wham! which was released in 1984 and became their first UK

number one hit. It was written and produced by George Michael, one half of the duo. This

song also appeared in soundtrack for the movie Zoolander. The reason for selecting this

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song is because it rhymes well with the product slogan “Bean me up… Wherever,

Whenever”.

It is a song that is widely famous among the world population and the decision is justified

by the fact that it has been number one song on many charts all around the world.

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6.7 Color

Red- Red is an extreme and emotionally intense color. 24 cold coffee has used red to evokes

aggressiveness, passion, strength and vitality. It also grabs attention of the viewers.

Caffeine keeps a person live and kicking and it will keep a person on the edge. This

hyperactive state is represented in this color.

Blue- Blue is a color that represents youth, spirituality, truth which are the same attributes

that 24 clod coffee is trying to express. When we thing about Ice and the clod glaziers, the

color blue is what’s coming to the mind. The main target of the product is the youth and

blue is the color that represents them.

Brown- The color of the actual product is brown, which is the coffee. It represents richness

and earthliness. Coffee is a product that has been provided by Mother Nature.

White- White is the color of snow. It represents ice and it represents purity, simplicity,

sterility and refinement the brand is trying to represent. The snowman in the picture is the

ultimate giveaway of the product being a cold drink.

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6.8 Mascot

The term mascot – defined as a term for any person, animal, or object thought to bring luck

– colloquially (informally) includes anything used to represent a group with a common

public identity, such as a school, professional sports team, society, military unit, or brand

name. Mascots are also used as fictional, representative spokespeople for consumer

products.

The Bean Man

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Bean man is a funky and bubbly and huge coffee bean that has come to life to be

represented as the mascot of 24 cold coffee. It has the comprises of the colors of the

company and in his hands are the two coffee products that are available in the market.

7.0 Value Innovation

7.1 Differentiation or Die

In today’s world the level of competition for any market has reached the summit. And the

only way to survive in the competition is to differentiate ourselves from the others. So, the

point of difference (USP) is the only key to make ourselves prosper which most of the

companies don’t understand how to utilize.

There are many strategies involved in differentiation. These are :

1. Differentiation via “attribute”

2. Differentiation via “how it’s made”.

3. Differentiation via “being first”.

4. Differentiation via “the latest.”

5. Differentiation via “leadership.”

6. Differentiation via “specialization”.

7. Differentiation via “Heritage”

8. Differecnation via “prefrecence”

For our product 24 Cold Coffee we can use the difference via first. Our product is seemingly

new in the country where there is no competitor that gives us the privilege of being the

“first” offering the product. For success, to position the product in the consumers mind as

BEING NO.1 has always been remarkable.

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7.2 Red Ocean and Blue Ocean Strategy:

You are on your way back home and waiting for a bus to come. The bus arrived and it is

extremely crowded and there is hardly any space for you. Well either you can jump into

that bus going your way back home, all the way standing on the doorsteps or you can find

an alternate safe way to reach your home.

Those packed people on the bus are the companies those who try “die hard” to keep their

existence in the competition referred to as “RED OCEAN”. So, the companies should try to

offer something distinct in nature than the others which no one already yet had delivered.

Those are the “BLUE OCEAN”. Developing an alternative way (i.e. the unique way) to offer

the product is definitely the easiest way to prosper and retain in the market. Blue Ocean

Strategy is a proven system for breaking out of fierce bloody competition and creating new

uncontested market spaces for achieving profitable growth. Though it is of great concern,

because as days are passing and it is becoming more and more difficult to be unique or

enable to create a new product. But in any industry, no matter how competitive it is, a

company can create a blue ocean of uncontested market space. It may not be a new

product, but it can be attribute or benefits or anything else that creates value in the mind of

the consumers.

Value Innovation:

Value Innovation is the cornerstone of blue ocean strategy. Value innovation is the

simultaneous pursuit of differentiation and low cost. Value innovation focuses on making

the competition irrelevant by creating a leap of value for buyers and for the company,

thereby opening up new and uncontested market space. Because value to buyers comes

from the offering’s utility minus its price, and because value to the company is generated

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from the offering’s price minus its cost, value innovation is achieved only when the whole

system of utility, price and cost is aligned. It can be explained by the following diagram.

We are offering an unique product by combining different elements and also eliminating

some. We are saving costs by eliminating and reducing different elements and adding value

to the consumers by creating and raising the industry standard. This can be explained by

the four actions framework.

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Fig : The Four actions framework for 24 cold coffee

7.3 Brand sense :

The trend in previous times was to attract more customers towards the brand by using

advertisements with repetition. For example : Do you hear me? Do you hear me ? Do you

hear me. In 1965 – Average consumer remembered 34% of the ads shown on TV and in

1990 – Average consumer remembered ONLY 8 % of the ads shown on TV. Within the

passage of time the demand for repetition was declining drastically and soon replaced by

sensory branding and sensory synergy. Taste + Touch + Sound + Vision + Smell+ Taste

2+2+2+2+2= 20

Brand Sense is a holistic way of understanding, deconstructing and building a brand by

taking into account how, and where, it impresses each of our five senses. Brand sense is a

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wakeup call for all marketers who still believe that strong brand and demand

communications only need appeal to what we see – and not what we hear, smell, taste and

touch.

The evolution of branding concept started from 50’s and since then it started to accomplish

new characteristics becoming more dynamic.

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The holistic selling proposition of our brand can be explained by the following diagram.

Fig : HSP OF 24 Cold Coffee

Taste :

The score on taste , results extremely high because of the appetizing scrumptious taste of

the chilling cold coffee during hot summer is more like sharing blissful experience . People

often describe cold coffee as “ like the sun melting a long winter's snow, cooling the heart”.

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Taste

smell

Touch

Sight

Sound

Sound:

Music often is one of the many things that people can remember and recall even after a long

time. Our advertisements will be presented with jingles so whenever people are going to

see our product they are going to recall our brand. A successful brand is the brand those

who can make the consumers sing their own song

Smell:

Wake up and smell the coffee...yes, it's the best way to cure tiredness. The aroma of the

COFFEE often awakens refreshment. A cup of freshly ground coffee is what it takes to get

some people moving in the morning. But, according to a study, it may be the aroma rather

than the coffee itself that does the trick.

Touch:

Humans have such a visual orientation that we often forget to write with our other senses

like taste, smell and touch. 24 cold coffee provides an unique service to the consumers by

providing them an attracting can or plastic bottle to help them take away the product

wherever they go.

Sight:

The attractive packaging provided with lustrous design and color of 24 Cold Coffee will

help the consumers to identify the product very easily and have a p .

8.0 Leveraging through Secondary Brand Strategy

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As we know by now Brands may be linked to other entities that have their own knowledge

structures in the minds of consumer. In effect, the brand “borrows” some brand knowledge

and, depending on the nature of those associations and responses, perhaps some brand

equity from other entities. This indirect approach to building brand equity is leveraging

secondary brand knowledge for the brand. Secondary brand knowledge may be quite

important to creating strong, favorable, and unique associations or positive responses if

existing brand associations or responses are deficient in some way. It can also be an

effective way to rein force existing associations and responses in a fresh and different way.

Leveraging through secondary brand associations becomes even more important when it

comes to a completely new product such as 24 cold coffee. The awareness regarding the

product, the brand and the company itself are unknown entities and building up awareness

for all parties will require all the leveraging needed.

1 Company

Branding strategies are an important determinant of the strength of association from the

brand to the company and any other existing brands. Unfortunately for 24 cold coffee, this

means of leveraging is not possible because the company itself is new to the market

without any known branded products in the market.

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2 Countries or other geographic areas

Besides the company that makes the product, the country or geographic location from

which it originates may also become linked to the brand and generate secondary

associations. 24 cold coffee is a product that is produced in Bangladesh and patriotic

factors of consuming products that are produced and sold within the country and how such

factors will contribute to the economy of the country will be emphasized in the minds of

the consumers.

3 Channel of distribution

As we know retail stores affect the products that they sell. 24 cold coffee is looking for an

intensive nationwide distribution which will require assistance form a wide span of

intermediaries. Main focus would be on the retail outlets, supermarkets, fast-food outlets

and restaurants. By getting the intermediaries involved by providing them a decent

percentage of the profits will enable improved point of sales. Steps will be taken towards

having displays and posters of the products in these outlets so that consumers will be able

to identify the product and look for an impulsive purchase. Having significant shelf space in

supermarkets and retail outlets are also in the mix of plans of 24 cold coffee. Providing the

retailers with refridgators and helping them with their marketing process will increase the

positive image in the mind of the retailers, thereafter making sure that they also contribute

a significant portion towards the sales of 24 cold coffee.

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4 Celebrity endorsements (spokesperson)

The target customers of 24 cold coffee are generally the youth population of Bangladesh.

During the advertising campaigns, it is important to select celebrities that can reach

towards the focused group of customers.

Sakib Al Hassan

James

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Sarika

Shokh

5 Sporting, cultural, or other events

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24 cold coffee is intending on sponsoring musical events that are near and dear to the

youth of Bangladesh. Underground concerts that constantly take place in places such as

Russian Cultural Center, Youth Club Banani etc. attracts youth form many areas. Such a

place gives an excellent base for leveraging cold coffee. Having stalls in cricket stadiums

during cricket matches will enable consumers to enjoy cold refreshing coffee that will

continue to give them the kick they need during hot and humid conditions. Besides the

spokesperson Shakib al Hasan also represents cricket, it will be fitting.

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9.0 References

Books:

Principles of Marketing 11th Edition by Philip Kotler & Gary Armstrong.

Philip Kotlet, Kevin Lane Keller (2006), “Marketing Management”, New Delhi, Prentice

Hall of India.

Websites

www. coffeebusiness .com/index.html

www. coffee shopprofits.com

www.ineed coffee .com/section/ busi

www. coffee strategies.com

www.espresso business .com

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10.0 Conclusion

It can be said that creating and establishing a brand requires some distinct criteria of knowledge.

Most importantly the setting of the strategy and implementing is so much important. All the

things can be assumed and calculated, the ultimately it is the customers, who are the decision

maker whether the brand is a success or failure in the market.

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