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Think Gum - A Marketing Plan

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This is our marketing plan project for a gum. Although it is a gum, we marketed it as a study/memory aid with the dual benefits of energy boost and memory recall. We targeted college students for this totally unique product.

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Think Gum - A Marketing Plan

  1. 1. Think Gum Lakshman KV Shankar, Praharsh Khodanpur, Laura Hughes, Brent Eyler Marketing 5001 Dr. Neeraj Bharadwaj
  2. 2. Agenda <ul><li>What is Think Gum? </li></ul><ul><li>Target Market </li></ul><ul><li>Competitive Advantage </li></ul><ul><li>Marketing Channels </li></ul><ul><li>Marketing Communication </li></ul><ul><li>Pricing </li></ul><ul><li>Financial Projections </li></ul><ul><li>Recommendations </li></ul>
  3. 3. What is Think Gum! ? <ul><li>A new class of study aid </li></ul><ul><li>Dual Benefit/USP </li></ul><ul><ul><li>Energy Boost </li></ul></ul><ul><ul><ul><li>20 mg of natural caffeine </li></ul></ul></ul><ul><ul><li>Memory Recall </li></ul></ul><ul><ul><ul><li>Context dependency through unique taste </li></ul></ul></ul><ul><ul><ul><ul><li>Chew it while you study and during the exam to remember what you studied </li></ul></ul></ul></ul>
  4. 4. Target Market <ul><li>Potential Market Segments </li></ul><ul><ul><li>High school students </li></ul></ul><ul><ul><ul><li>Need memory recall (SATs, ACTs) </li></ul></ul></ul><ul><ul><li>Young professionals </li></ul></ul><ul><ul><ul><li>Need energy boost </li></ul></ul></ul><ul><ul><li>College students </li></ul></ul><ul><ul><ul><li>Need memory recall and an energy boost </li></ul></ul></ul>
  5. 5. Competitive Advantage <ul><li>Only product to satisfy need for both study aid & energy boost </li></ul><ul><li>Totally unique product </li></ul>
  6. 6. Marketing Channels <ul><li>Simplicity of marketing channel </li></ul><ul><ul><li>Barnes & Noble has 600 college bookstores that are company owned </li></ul></ul><ul><ul><li>Café present in the majority of bookstores </li></ul></ul>
  7. 7. Marketing Communication <ul><li>Coffee Sleeve </li></ul><ul><li>Think Gum Steps: </li></ul><ul><li>1. Chew it now while you study. </li></ul><ul><li>2. Chew it again during your test to remember what you studied. </li></ul><ul><li>Think Gum provides memory recall through its unique taste. </li></ul><ul><li>Want proof? Visit www.ThinkGum.com. </li></ul>
  8. 8. Marketing Communication <ul><li>Advertisement </li></ul>
  9. 9. Premium Pricing <ul><li>Value Added Pricing Model </li></ul><ul><ul><li>College Students Willingness To Pay </li></ul></ul><ul><ul><ul><li>Energy boost - $.25/ hour </li></ul></ul></ul><ul><ul><ul><li>Memory recall - $.20/ hour </li></ul></ul></ul><ul><ul><ul><li>Competitive edge - $.40/ hour </li></ul></ul></ul><ul><ul><li>Translates into $5.10 in value added per pack of Think Gum. </li></ul></ul><ul><ul><li>Price per pack - $2.50-$4 </li></ul></ul>
  10. 10. Projected Sales 2010* 2011* 2012* Total Students 9,247,679.55 9,386,394.74 9,527,190.66 Students w/ access Willing to Try 72.5% Best 6,701,217.06 6,801,735.32 6,903,761.35 55.1% Average 5,092,924.97 5,169,318.84 5,246,858.63 37.7% Worst 3,484,632.87 3,536,902.37 3,589,955.90 Given Best Converted to Frequent Customers 33% Best 2,233,739.02 2,267,245.11 2,301,253.78 20% Average 1,340,243.41 1,360,347.06 1,380,752.27 10% Worst 670,121.71 680,173.53 690,376.13 Given Average 33% Best 1,697,641.66 1,723,106.28 1,748,952.88 20% Average 1,018,584.99 1,033,863.77 1,049,371.73 10% Worst 509,292.50 516,931.88 524,685.86 Given Worst 33% Best 1,161,544.29 1,178,967.46 1,196,651.97 20% Average 696,926.57 707,380.47 717,991.18 10% Worst 348,463.29 353,690.24 358,995.59       Projected Frequent Customers 1,075,173.05 1,091,300.64 1,107,670.15 Projected Packs Sold 36,985,952.88 37,540,742.18 38,103,853.31
  11. 11. Recommendations <ul><li>Rebrand Think Gum as a study aid. </li></ul><ul><ul><li>Premium Pricing </li></ul></ul><ul><li>Sell Think Gum through Barnes & Noble campus book store cafes. </li></ul><ul><li>Promote awareness of Think Gum through coffee sleeve advertising campaign. </li></ul>
  12. 12. Thank You

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