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Developing marketing strategies and implementation
Developing marketing strategies and implementation
Developing marketing strategies and implementation
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Kraft Foods is the largest confectionery, food, and beverage corporation headquartered in the United States and the second largest in the world, marketing a vast number of brands in over 155 countries (NYSE, 2010). A big reason Kraft Foods has been so successful over the years is that they are always trying to remain current and creative when they market their products, and really have developed a firm grasp on their target markets. In 2008 Kraft changed the way companies will market their products, when they introduced their new Brand of instant coffee, and created a platform to connect themselves with their consumer at the point of purchase, all the while showing the world the future of marketing by taking both promotional ideas mobile (Wirelessfederation, 2010).
When Kraft Foods, launched Jacobs 3in1/2in1 instant coffee, they were introducing a product into an already very competitive and dense instant coffee market. Therefore, Kraft had to find a cheep and affective way to get their product samples out to the current market and a target market that would be open to change and innovation and act as catalysts to promote their new product (primarily young coffee drinkers). Kraft put it’s money into the hands of an up and coming marketing group called YOC, who were convinced that mobile marketing was the way of the future and would work perfectly for their sampling campaign. YOC’s idea was to use traditional media to advertise the product, and placed control directly in the hands of the consumer by letting them order samples of the product for free using SMS from their mobile phones (Wirelessfederation, 2010) Kraft would use Short codes and key words promoted across traditional print and TV ads, inviting consumers to send an S...
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Works Cited
http://www.emarketer.com/Article.aspx?R=1007561
http://wirelessfederation.com/news/14221-krafts-successful-mobile-sampling-campaign-a-case-study/
http://www.mobilemarketingmagazine.co.uk/2009/01/mma-case-study-kraft-foodsyoc-sampling-campaign-.html
http://smsisthenewblack.wordpress.com/2009/01/27/kraft-mobile-marketing-case-study/
http://blog.converget.com/2009/12/01/krafts-successful-mobile-sampling-campaign/
http://www.isignmedia.com/media/newsletters_41_0_1.pdf
http://daveibsen.typepad.com/5_blogs_before_lunch/2009/12/kraft-foods-ifood-assistant-is-a-mobile-success.html
http://www.iphonelife.com/issues/Fall2009/KraftingACorporate
http://www.femtocellnews.net/2009/01/29/kraft’s-successful-mobile-sampling-campaign-a-case-study/
http://smsisthenewblack.co.uk/tag/mobile-marketing/
Marketing is not just about selling and advertising products and services. In general, marketing is associated with identifying the particular wants and needs of a target market of customers, and then working to satisfy those customers better than the competition. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution or place (Bethel, 2007). Understanding ways to identify the target market is crucial in developing market strategy. This paper is intended to define target marketing and examine a market analysis of Stacy's Pita Chip Company.
This diversity will make for a powerful word of mouth marketing campaign using social media to spread the word and the television and online advertising efforts offering a money-back guarantee, free samples and community website links. We will focus on both the “Bohemian Mix” from this geographic area that includes people from these ethnic backgrounds in households made up of a mixture of different family members from different age groups, but under age 55, many with pets, who like to try the “newest coffee brew” or product. Their median income is over $56,000 a year and they are upwardly mobile. We also chose the “Young Digeratis” who are made up of the wealthier and younger family mix ages 25 to 44. They like to stand out above others and only accept the highest quality of food and drinks. They drive the most expensive autos and spare no expense on their clothes and
In September 2009, Kraft, American company, represented by Irene Rosenfeld (CEO) made an offer to Roger Carr (Chairman of Cadbury) in order to acquire the English company, Cadbury. Carr did not even consider the offer once they heard the amount. It took almost two years to finish the acquisition and several modifications were made to the offer.
Coffee, one of the world’s most known beverages. Seen being drinking at work places, colleges, or in the convenience of your own home. There are a variety of companies that provide us the people with coffee. It can be your local market, bakeries, or even fast food places. 3 places that stand out and our known very well for supplying Americans with coffee is Starbucks, Dunkin Donuts, and McDonald’s. From their strategic advertising, deals, and even straight down to the design of their cups, they meet the definition of marketing. We will be examining these 3 companies using the marketing mix which consist of product, price, place, promotion and also cover value based marketing and see how these companies meet these definitions and how they satisfy their customers as well.
United Cereal was established more than one hundred years ago in United States and it entered the European market in 1952. Through decades, the company grew with a strong commitment to “The UC Way”. “Listen to the customers”, “spot the trend make the market”, and “honoring the past while embracing the future” are the mottos, which the company strives to achieve with its every product and brand. Despite being well established for a long time, the company is still struggling in a highly competitive industry.
McDonald’s is always looking for new ways to branch out their business to regular consumers. Currently, McDonald’s is testing out an all-day breakfast menu for customers eat from to give more of a variety. From a report on the Chicago Tribune, Samantha Bomkamp reported that McDonald’s is having a tough time working things out in the kitchen, but the sales of breakfast items has helped bring in more revenue to McDonald’s. Bomkamp reported that Egg McMuffins have seen a double digit increase among the new change up at McDonald’s. The increase with Egg McMuffins has made the prediction that on average, “All-day breakfast will drive established-store sales by about 1.5 percent in the current quarter, and add about 1 percent in sales over the next 12 months” (Bomkamp). The sales of food have seen an up-down view for revenue, during the first and second quarter McDonald’s has seen a narrow decline among sales. With the new idea of breakfast in place, McDonald’s is expected to have a better quarter for this upcoming record among sales. As far as selling their products, McDonald’s has used the idea to attract the correct media outlets. For example, Nickelodeon and other children’s television channels are highly influenced by McDonald’s and their happy meals. Happy meals and happy meal toys have made McDonald’s an attracting site for many children because of what they bring to the
M&M's candies has a broad target market, everyone can enjoy eating M&M's. M&M's cartoon characters are colorful, friendly, and funny. The same cartoon commercials that allure kids contain adult humor and sexual innuendos. M&M's are sold in every grocery store, and gas station so that they cover middle class and lower class. Specialty M&M's are sold over the Internet, which are aimed at the higher class. M&M/Mars doesn't have a specific target market. The company markets to all sectors of the market through distinctive marketing schemes they utilize mass marketing to target a large market at once. Some major markets are: children, Latino's, middle-aged women, people on the run, etc.
In 2002, unexpected findings of a market research showed problems regarding customer satisfaction and brand meaning for Starbucks customers. The situation was unacceptable for a company whose overall objective is to build the most recognized and respected brand in the world. Starbucks was supposed to represent a new and different place where any man would relax and enjoy quality time, alone or with others. But the market research showed that in the mind of the consumers, Starbucks brand is viewed as corporative, trying to expand endlessly and looking to make lots of money. This huge gap between customers' perception and Starbucks' values and goals called for immediate action.
Starbucks is the world’s largest coffee roaster and retailer of specialty coffee in the world. We have enjoyed great dividend returns over the past 5 years, and our growth has been on the rise. We are currently saturating the US market, while the emerging markets of developing countries offer many possibilities for growth and increased revenues. In our US market we should look at offering more items on the menu that complement our long-standing tradition of pleasing our customers. Exotic Juices, and snacks served with the same service could add a nice margin to the bottom line. In addition, the ability to offer a drive through service for the consumer that loves fine coffee but does not have the time to stop and visit should be on our “trial” market plan for the next few years.
Over the last decade, product marketing and ways through which communication takes place between manufacturers and consumers has changed tremendously (Belch & Belch 2004). Due to the technological revolutions and the rise of innovations such as the mobile phones and the internet, control over information has shifted apparently from the manufacturer's hands to the hands of consumers (Belch & Belch 2004). The market environment has also changed due to globalization of marketing strategies, loss of confidence in media advertising, increased reliance on targeted communication methods, and media fragmentation and so on (Belch & Belch 2004).
Several facts are changing in today’s marketing communications. More companies adopt the new concept of integrated marketing communications (IMC) to convey a consistent message about their brand and products. Hence, IMC has played a powerful role and developed into a useful strategy for company to reach more customers and build good customer relationships. According to Herstein et al. (2008), IMC is one of a successful strategy that coordinates and integrates all of marketing communication tools to efficiently and economically influence between an organization and its existing and potential customers. Moreover, marketers can combine IMC tools (advertising, sale promotion, personal selling, direct marketing and public relations) rather than separate practices to create values and avoid potential conflicts (Duncan & Everett, 1993). In fast food industry, fast food chains integrate advertising, sale promotion, sponsorship, packaging and Internet to promote their products as well as build brand image (Sperber, 2003; Story & French, 2004; Morrison, 2010). Advertising is most used form of communication and the most frequently utilized medium due to it easily contact the target market, especially on television advertising (Story & French, 2004; Case, 2007). In addition, simple toys and products are typically used by fast food chains in children’s meal to attract children and adolescents.
Boost Juice used different strategy which include targeted exposure when spreading their brand awareness, one of the strategy is supermarket shelf placement. Boost Juice understand that their target customer which is a health conscious person both teen and adult usually buy their fruits and vegetables at supermarket like Coles, Boost Juice then place their product at Coles for a more affordable price and a health conscious customer that doesn’t know about Boost Juice will be exposed to the brand. Their product is usually located near other supermarket juice drinks. Moreover, the mere exposure effect when targeted customer keep seeing the brand in the supermarket and on the way home will increase the liking to the brand. The weakness for this strategy is that the mere exposure effect act as an “inverted U” which mean when some factor unrelated to the stimuli such as boredom or fatigue started the repetition will decrease the liking to Boost Juice brand (Pliner, 1982).
Coca-Cola could use its social media network to introduce its products. This could be beneficial to the company, increase awareness of other products and increase revenue. Threats – The ever changing health-consciousness attitudes of the market could have a serious impact on Coca-Cola. This is a dominant threat because people are constantly trying to change their eating and drinking habits. Social media could exploit the unhealthy side of Coca-Cola’s products and could potentially threaten the status and success of sales (Tanner, 2013).
In this world, creating a new product, as good as it may be, is not enough. The success of any product, in this day and age, depends grandly on the way it is presented to the market. Marketing is responsible in assuring a successful launch of a product, new or reinvented, and to assure its sustainability in this competitive world. For those reasons, billions of dollars are spent each year on tools and strategies to improve marketing research and predict the success of a product: many marketing firms form focus groups, do trials and conduct many tests just to end up with a fairly high percentage of failures.
According to the Handbook of Media Management and Economics, marketing is “the art and science of satisfying consumer needs.” Marketing campaigns are strategic plans that will allow a company to push their consumer into buying their product. A good campaign will identify the consumer, their consumer’s needs and desires, and what the consumer needs to experience to convince them the product will fulfill that need or desire. T...