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Marketing Plan; Product Launch; Beverage Lid Industry
This case reviews the background of a new entrepreneurial firm, LidSuperior*on the launching of a new patented hot beverage cup lid in the United States for disposable hot beverage cups. The United States hot beverage cup lid industry is highly concentrated with a few major competitors who have dominated the market in sales volume over several years. One brand in particular, the Dart “Solo Traveler” lid has been the market share leader for several years. LidSuperior designed, after multiple preliminary design attempts, an innovative X lid that enhances aroma of hot beverages, reduces the possibility of spills, and increases safety in drinking and transporting a hot beverage cup. LidSuperior’s lid design also allows room on the side of the lid for advertising or shared lid-costs with co-marketing partners. The firm secured a patent on the design and functionality of the lid as claimed benefits were validated with independent marketing research sensory tests. LidSuperior is working on developing a marketing plan to introduce the hot beverage lid within the United States to be later followed by a cold beverage lid design and launch.