This marketing plan is prepared for Mast-Jägermeister AG with the sole aim to increase their profit and market share in Monaco. A brief history of the company describes their success in the beverage industry, followed by the current market situation. The SWOT and Issue Analysis are showing the main markets and the major facts in detail. Afterwards the contents of the Marketing and Financial Objectives of Mast-Jägermeister AG will highlight the key issues. The Marketing Strategy along with recommended Action Programs will outline how to introduce and to begin with the Project. The explanatory statement of the project shows that this project can start as soon as desired. The last section is ‘Failure Strategy,’ it shows how the project can be controlled.
Table of Contents
1. Executive Summary
2. Current marketing situation
3. Opportunity and issue analysis
4. Objectives
5. Marketing Strategy and Action Programs
6. Financial Projections and Implementation Controls
Project Goals and Themes
This marketing plan aims to successfully introduce the Jägermeister brand into the Monaco market, focusing on increasing both market share and profitability by leveraging its established global cult status among a trendy, quality-conscious demographic.
- Strategic market entry and brand positioning in Monaco.
- Targeting of fashion-oriented consumers and nightlife venues.
- Implementation of innovative promotional tactics like the 'Jägerettes' and tap machines.
- Pricing strategies tailored for an exclusive, premium market segment.
- Risk management through adaptable communication and pricing controls.
Excerpt from the Book
Marketing Strategy and Action Programs
In the space of only 70 years, “Jägermeister” has taken the world by storm. From an obscure existence as a stomach remedy geared towards over 50s German males, “Jägermeister” has – through successful repositioning and advertising - become a liqueur with cult status in the party scene – globally!
“Jägermeister”, the world wide biggest herbal spirit is produced and distributed by Mast – Jägermeister AG. The company was founded in 1878 in Wolfenbüttel. With the liqueur "Jägermeister", the company is out on the market since 1935. The Jägermeister AG currently employs about 500 employers at different locations. Today, approximately 70 percent of the total sales world wide derives from export into over 60 countries world wide, made possible through the systematic expansion of the company in Europe and overseas starting in the 1960’s.
Thanks to an effective campaign, the traditional brand "Jägermeister" succeeded in the course of the last years to carry out a remarkable image change. During this period a lot of changes were made, but the bottle and the packaging is still the same. This results in the fact that also the old customers should keep Jägermeister in mind.
Summary of Chapters
1. Executive Summary: Provides an overview of the project's purpose, which is to launch Jägermeister in Monaco by outlining the market context, objectives, and control strategies.
2. Current marketing situation: Defines the target demographic as trend-oriented individuals frequenting premium venues and establishes the need for significant marketing investment to gain a foothold.
3. Opportunity and issue analysis: Evaluates the brand's strengths, weaknesses, opportunities, and threats to determine the key factors necessary for a successful market entry.
4. Objectives: Sets a clear quantitative goal of achieving at least 25% market share in relevant venues within 12 to 18 months based on local surveys.
5. Marketing Strategy and Action Programs: Details the operational plan, including product positioning, exclusive pricing, promotional tactics like club tours and tap installations, and strategic placement.
6. Financial Projections and Implementation Controls: Analyzes potential risks, such as mispositioning or incorrect pricing, and establishes contingency plans to adjust the strategy if necessary.
Keywords
Jägermeister, Monaco, Marketing Plan, Brand Positioning, Market Entry, Alcoholic Beverages, Nightlife Marketing, Target Market, SWOT Analysis, Promotional Tactics, Customer Loyalty, Sales Strategy.
Frequently Asked Questions
What is the primary purpose of this marketing document?
The document serves as a comprehensive marketing plan to introduce Jägermeister to the Monaco market, with the primary aim of gaining market share and increasing profitability.
Who is the target audience for the brand in Monaco?
The target audience consists of both men and women aged 20–55 who are trendsetters, fashion-oriented, and frequent upscale social venues such as bars, clubs, and restaurants.
What is the main objective of the proposed plan?
The plan targets a minimum market share of 25% within the alcoholic beverage and cocktail segment in specific high-end Monaco establishments over the next 12 to 18 months.
Which promotional methods are suggested?
Key tactics include TV commercials featuring the "Rudi and Ralph" campaign, the use of "Jägerettes" for club promotions, and the installation of special tap machines to serve the liqueur chilled at -20°C.
How is the brand positioned regarding price?
The pricing strategy follows an "exclusive, but not luxurious" approach, positioning the brand as a premium product where the price acts as an indicator of quality.
What measures are in place to handle potential failures?
The plan includes a "Failure Strategy" that allows for adjustments in communication, repositioning, or price reductions if the product fails to meet the expected performance benchmarks.
How does the plan address the brand's potential "medicine" taste?
The strategy focuses on repositioning the product as a trendy "cult" drink and using cooling technology (tap machines) to improve the taste experience for consumers.
Why are Formula 1 weekends specifically mentioned for promotion?
These events attract thousands of potential high-spending customers to Monaco, offering an ideal opportunity for brand exposure and the Jägerettes-Tour.
- Quote paper
- Alexander Wolters (Author), 2006, Marketingplan: Jägermeister for Monaco, Munich, GRIN Verlag, https://www.grin.com/document/57253
