Triarc Beverages Strategy
With the acquisition of beverage giant Snapple, Triarc Beverages has to bring its newest and largest acquisition back to prominence, and also deal with the positioning of its other major brand and direct competitor to Snapple, Mistic beverages. Snapple maintains 24% market share in the premium alternative beverage segment, yet its sales have declined dramatically in the past three years, nearly being cut in third. After purchasing the offbeat brand, Quaker attempted to make Snapple more mainstream by removing some its edginess, however such strategies had deep repercussions as Snapple alienated much of its fan base and in the process managed to lose sight of what it represented causing its eventual sale to Triarc.
According to consumers, the biggest crime by Snapple was “selling out,” on its previous values. Triarc should reposition Snapple by stressing not only it’s 100% naturalness and the quality of its ingredients but also by the plethora of occasions that popping open a Snapple is ideal. Snapple is a lifestyle brand catering towards a very open minded, spur of the moment, and casual type of individual. Rather than have a function, Snapple’s appeal rests in the fact that any time is an ideal Snapple time. Though part of Snapple’s value proposition is catering to everyone by offering a vast array of flavors, Snapple should cut its production by ten to fifteen flavors. This is because these flavors would account for only 10~15% of all of Snapple’s total sales (Ex. 1). Snapple must also revamp it’s packaging and design, emphasizing the bright sophistication of its customers, and it’s 100% all-naturalness, as well as a new offbeat bottle design that customers would identify with Snapple. Because Snapple is often looked upon as a individual bottle buy rather than a bulk purchase, Snapple should aim to receive significant exposure in the “cold channel” by distributing heavily to deli’s, street vendors, and gas stations. This high exposure setting would lead to a sizable amount of impulse buys from customers, playing into overall company strategy to make Snapple the drink thats perfect for all times in life. Snapple would have to rebuild its image by launching a highly personalized yet unconventional promotions campaign to win back its consumers. Firstly, a Snapple convention or creating a “snap those caps” program in which frequent Snapple drinkers could send in caps in exchange for Snapple paraphernalia would create a sense of connection with the public. Secondly, launching a mass media television campaign with the theme revolving around “My Snapple” or “Snap-in-Time” (Ex. 2) would emphasize the traits about Snapple’s value proposition. Finally, a significant step to promote Snapple would be to place Snapple vending machines in elementary and middle schools. These vending machines would hold only the 100% all natural fruit drink flavors of Snapple, appeasing to both kids with the exotic taste and to adults with the health benefits.
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