The Marketing mix of Slice analyses the 4Ps of Slice, including the Product, Price, Place, and Promotions. Slice is a soft drink and is associated with the beverage industry. It is of American origin and was introduced in the consumer market in 1984. Slice is a subsidiary brand of its world-renowned parent company PepsiCo. It has a refreshing taste with a 10% juice content. Slice has been able to make a distinctive mark of its own in the fruit-flavor drink market, but it faces competition from several brands and their products, such as the following.
- Dabur Real Juice
- Tropicana
- Maaza
- Frooti
- Minute Maid Orange Soda
About Target
- Type: Fruit-flavored soft drink
- Industry: Beverages
- Founded: 1984
- Founders: PepsiCo
- Headquarters: Purchase, New York, United States
- Area served: Worldwide
- Current CEO: Ramon Laguarta
- Number of employees: Over 262,000
- Major products: Slice fruit-flavored soft drinks
Table of Contents
Slice Product Strategy
Slice is a fruit-flavored line of soft drinks. With time, the company has introduced many variants to increase its market share and attract new customers.
Slice is available in several pack sizes and bottles, like pet bottles and small cartoon packs, to meet the varying needs of consumers. In India, it has become synonymous with the most popular and famous fruit, mango, and is made from Alphonso and Ratnagiri variants.
The new Product Mix of Slice in 2023 is as follows (Source).
- Flavored Soft Drinks: Slice primarily offers flavored soft drinks, focusing on fruit-flavored beverages.
- Variety of Flavors: They typically provide a range of flavors, often fruit-based, to cater to diverse consumer preferences.
- Different Packaging Options: Slice products are likely available in various packaging options, including cans and bottles of different sizes.
- Diet and Low-Calorie Options: Slice might offer diet or low-calorie versions of their main products to cater to health-conscious consumers.
- Limited Edition Flavors or Collaborations: Like many beverage companies, Slice may occasionally introduce limited edition flavors or engage in collaborative products.
Slice Place Strategy
Slice was first introduced to the market in the United States and, with time, spread its product presence to several countries worldwide. It has gained worldwide acceptance because of its unique and refreshing taste. Slice was launched in India in 1993 and has become one of the most popular soft drinks available in the consumer market. It is also available in Pakistan, Bangladesh, and Canada markets.
Slice has a widespread and good distribution policy makes its availability very easy because of its parent company, which has powerful channels in most countries. It has adopted VPS or Vertical marketing System of distribution, and its channel includes services of distributors, small retailers, and bulk buyers to reach end customers via supermarkets, hypermarkets, food stores, discount stores, corner shops, café, restaurants, hotels, airports, railway stations, school and college canteens and bus depot.
Slice’s place strategy, based on standard practices in the beverage industry, likely includes the following elements:
- Wide Retail Distribution: Slice products are typically available in a wide range of retail outlets, including supermarkets, convenience stores, and grocery stores, ensuring easy accessibility for consumers.
- Online Presence: The brand is likely to have a solid online presence, with products available on e-commerce platforms and possibly through a direct-to-consumer website, catering to the growing trend of online shopping.
- International Market Penetration: Slice may target international markets, adapting its distribution strategy to local preferences and regulations in various countries.
- Strategic Placement in Food and Beverage Outlets: The products are likely placed in restaurants, cafes, and fast-food chains, expanding their visibility and availability to a broader audience.
- Collaborations and Partnerships: Engaging in strategic partnerships and collaborations can help Slice expand its distribution network and reach, such as partnering with event organizers or other beverage and food brands.
Slice Pricing Strategy
Slice has projected itself as a fun drink. It has targeted every section of society belonging to an all-age group as its potential customer. Slice faces stiff competition from several similar products. It has implemented a competitive pricing policy and has kept its product prices at par with competitors’ prices. Moreover, it wanted to penetrate further markets and increase its market share. Hence, Slice has adopted a penetration pricing policy so that its products are readily available in every nook and corner of the country. Reasonable and affordable rates have helped the brand gain a greater consumer base and more significant profit margins.
Slice’s pricing strategy can be conceptualized with the following key elements:
- Competitive Pricing: To remain competitive in the beverage market, Slice likely sets prices comparable to other soft drink brands, ensuring they are affordable and attractive to their target consumers.
- Volume-Based Pricing: Offering various sizes and multipacks, Slice may use volume-based pricing to encourage larger purchases. Larger packs or bottles are often priced more economically than smaller ones, offering better value to consumers.
- Promotional Pricing: Engaging in promotional pricing strategies such as discounts, sales, and limited-time offers can be a crucial part of their approach, especially during new product launches or seasonal marketing campaigns.
- Psychological Pricing: Employing psychological pricing tactics, like setting prices slightly below a round number (e.g., $1.99 instead of $2.00) to make the price seem significantly lower, can be an effective strategy to increase sales.
- Dynamic Pricing in Different Markets: Prices may vary based on geographic location, considering local market conditions, competition, and purchasing power. This ensures that the pricing is aligned with the economic realities of different regions.
Slice Promotion Strategy
Slice is an international brand that has adopted ATL and BTL marketing strategies to create and maintain brand awareness in the consumer market. It has launched several memorable advertisements with the help of electronic and print media in popular television channels, radio, newspapers, magazines, hoardings at popular places, and sides and backs of trucks, tempo, buses, and trams.
With its pure mango pleasure, Slice has strategically positioned itself in the marketing mix, capturing bulk buyers globally. The brand’s marketing strategy has gained worldwide acceptance, making it synonymous with exotic destinations. Slice has also taken the help of social media platforms and launched campaigns via Twitter, Facebook, and YouTube. It realizes the positive impact of star power on the mindset of the common masses. It has roped in famous Indian actor Katrina Kaif to act in its commercials and become its brand ambassador in India. Through savvy marketing strategies, Slice has garnered more significant profit margins and gained a more excellent consumer base. The brand’s several memorable advertisements, featured on popular television channels, have resonated with audiences, securing its presence in Pakistan, Bangladesh, and Canada markets and among small retailers.
Slice has several famous taglines associated with its brand, like Ab ras bar Saga, Aamsutra, Taste the Biggest Orange, and Pure Mango Pleasure. In 2009, the company launched Slice Pure Pleasure Holidays as part of its promotional policy. It offers its consumers a chance to win all-expense-paid luxurious holidays to exotic destinations like Venice, Greece, Vienna, and Paris.
Some Recent Video ads and Print ads for Slice are:
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