Components
Sip, sip, puff: Will Mary Jones Tall Boy be the latest buzz?
Jones Soda Co. is a premium soda company known for its unique flavors with pure sugar ingredients and unique labels generated by its consumers. In October 2022, it launched the Mary Jones Tall Boy brand and became the first mainstream non-alcohol consumer brand to crossover into the cannabis market. It was the first brand to leverage 25 years of mass-market established equity across brands, flavors, and fans. The developing cannabis industry had significant growth potential. Still, the newness of the market caused many challenges. As the first mainstream non-alcohol consumer brand to crossover into the cannabis market, Jones Soda Co. had greater brand equity than its current competitors, which would help overcome some of the challenges, but would that be enough to succeed in this new market? Students are asked to evaluate the diversification strategy, synthesize the unique value proposition, and assess the potential for adoption of this new product.
In completing this assignment, students should be able to:
1. Identify the type of growth strategy and assess the risk level of the growth strategy.
2. Conduct a competitive analysis and synthesize the unique value proposition of the brand.
3. Assess the adopter category of a brand.
4. Appraise the rate of adoption of a brand.