Factor X - Soft Drink planning

Introduction

The product that I've invented is Factor X which is a soft drink. Factor X would mainly contribute in the carbonated soft drink industry. It would be a maroon colored drink with strong cherry flavor that gives it the adventurous sort of image. The X presenting the idea of “X mark the spot” which means it is based on the thought that “do what you want to” which is also the Brand mantra as well as the core brand promise. Brand Mantra is described as the tag line of the product. Factor X logo would contain maroon and black color that shows the sweet and strong cherry flavor. The logo would be designed in such a way that the Factor word would be of maroon color whereas, X would be designed in a thunder way and would contain the black color (Heaney, 2001).

Factor X would be available in 3 different Stock keeping units (SKU) that are of 250ml, 1 liter, and 1.5 liter. In order to give a very impactful image it would also be available in different packages such as with 1.5 liter one regular bottle would be free so as to gain the customers attention. Along with that different discount packages at the initial stage would be given to them so customer would get aware of entirely different and revitalizing taste that they have never tasted before (Raben, 2002).



Soft Drink Industry

Factor X's major strength would be its brand Equity that would be derived from the strong image with the word “X” and its unique bottling system. Factor X's bottling system purely differentiates it from others and allows it to take opportunity of serving Factor X across the market. Factor X would be the most recognizable brand and would make its presence on a large scale in the existing carbonated soft drink industry. The competitors of Factor X are very substantial and substitutes; however, is a very big threat for the company. Pepsi and Coca Cola would be the biggest competitor of Factor X holding a large amount of share in the carbonated soft drink industry. The prices of Factor X, Coca Cola and Pepsi drinks would be the same as Factor X would adopt the competition based pricing system. However in order to attract consumers it would keep the prices low initially to develop the market. As the early adopters would get hooked with the brand it would cater the market with the increased price (Gibson, 2008).

Target Market

The difference Factor X would create is that they would create a large and loyal group of customers because of their strong brand looks. Factor X would plan to capture at least 20 percent of the market shares in the carbonated soft drink industry as Pepsi and coca cola has a big presence in all over the market.

Factor X mainly puts its whole attention towards those areas where there is presence of potential customers. The target market for Factor X would include mainly the ...