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

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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.

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.

Cold Coffee Consumption by Age

35%
30%
25%
20%
%
15%
Series1
10%
5%
0%
18-24 25-39 40-59 60+
Age

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%
Male
Female
59%

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

Other
1%
Travelling
Home 30% Travelling
36% Eating place
Work
Home
Other
Eating place
Work 15%
18%

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

5
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.
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

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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 Upper middle & middle class

Customer
Our Brand 24 Cold Coffee
IS Concept Cold coffee that is marketed in pre canned
packages within a reasonable price.
That Point of First time in Bangladesh, 24 Cold Coffee is
difference 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.

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Geographical Factors:

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.

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• 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

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 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 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

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ensure the quality of the product remains stable and is convenient for the
consumers to carry wherever they go. The 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.

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

• 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

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5.2.1 Selecting Pricing Objective

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

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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 :

24
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

26
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

28
 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 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

29
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.

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”

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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.
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.

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 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.

 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

35
 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.
• 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.

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“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 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

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

39
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

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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 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

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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 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.

smell
Taste

Touch

Sound

Sight

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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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.

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8.0 Leveraging through Secondary Brand Strategy

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.coffeeshopprofits.com

www.ineedcoffee.com/section/busi

www.coffeestrategies.com

www.espressobusiness.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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