Brew & More, a popular beverage manufacturer, produces and sells a popular mint flavored drink called Mintz. A new competitor enters the market and offers a similar mint-based drink that's suited for consumers on diet. This company offers its products at a much lower price. Brew & More calls for a line extension to meet the encroachment of its new competitor in its annual marketing plan. Identify the stream of activity that feeds strategic planning for new products in this scenario.

Question

Quizplus · Accepted Answer

Ongoing marketing planning is crucial for identifying market trends, competitor activities, and consumer preferences, which in turn informs the strategic planning for new products. In this scenario, Brew & More's decision to extend its product line in response to a competitor's entry is a direct outcome of its marketing planning efforts to maintain competitiveness and market share.

Brew & More, a Popular Beverage Manufacturer, Produces and Sells