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Developing marketing strategies and planning
Developing marketing strategies and planning
Developing and implementing marketing plans
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Situation and SWOT Analysis
YETI coolers are built with a purpose and are designed to withstand abuse from the outdoor elements. The entire reason the founders designed YETI coolers was to aid outdoorsman in their everyday lives. From fly fishing in Belize to elk hunting in Colorado, the YETI was made to store perishables for an extended amount of time and endure the abuse of the miles traveled. YETI’s mission statement is interrelated with their founder’s needs’, “Build the cooler we’d use everyday.” The cooler is made for outdoorsmen/women, commercial fishing, hunting, and outdoor activities that can keep game, food, drinks, beer, wildly longer and colder. Our marketing plan is directed to a niche market which is beneficial for our company
The popularity of YETI is increasing, which results in a constant increase in demand for our products. YETI can be viewed as a necessity, meaning that the more disposable income an individual has results in an increase to YETI product purchases. Consumers that normally would never spend as much as $400 on a cooler are now also purchasing YETI coolers due to constant exposure to YETI products and the perceived benefits of owning our products. YETI also has the ability and opportunity to reach untapped markets overseas as our products can be used by anyone that has a need to keep perishables cold for an extended period of
The advantages of adding a fully sealable lid to our cups includes minimizing the risk of spilling the cup’s contents, as well as this lid has the potential to keep liquids at their desired temperature for longer due to the absence of outside elements constantly entering the cup. One disadvantage to making this fully sealable lid is that some of YETI’s main competitors already have this option available to our customers, so YETI would not be a first mover for this niche market as we have been in the past. But since this product already exists in competitor product lines, the introduction of a fully sealable lid to YETI products is sure to help YETI become more competitive, which results in higher sales and profit. A potential threat to this new product is that YETI will almost certainly charge more for their product, even though the product already exists on the
An Investigation Into How the Thickness of Insulation Affects the Time a Drink Takes to Cool Down
In particular, promotions should target consumer who use paper-products and foams. Leveraging the company's highly trained sales personnel, relative benefits and long-term cost savings afforded by superior bubble product should be stressed. Additional promotional efforts should include direct mailings to potential clients in the US and Europe. Importantly, all promotional efforts must target packaging engineers.
As a sub-claim, Barnett and Gleick illustrate how marketing and false advertising play a major role in the creation of the grandiose image of bottled water. As a ground Barnett states, how “Aquafina” gets their water from the Detroit River”, however places “snow-capped mountain peaks” on its labels, while “Everest Water” comes from “Corpus Christi, not Mt. Everest”, and “Glacier Clear Water” is actually “tap water from Greeneville, Tennessee” (Barnett 34). Barnett states the actual sources of well-known bottling companies, which are consumed by many people on a daily basis. Reading this information allows the audience to reconsider their previous beliefs on bottled water and not base all their judgment on labels. Another ground used by Barnett, is how a beverage analyst, Hemphill, believes “consumers base their bottles-water decisions on three things: convenience, the packaging, and the price as more important than whether its drinking water or spring water” (Barnett 35). This ground illustrates the superficiality of water bottles, where the image of the bottle is more important than the actual content. Barnett uses the analyst to convince her audience of the business in water bottles; not a necessity anymore, but a
As stated in the case, “the market for energy drinks was growing; between 2010 and 2012, the market for energy drinks had grown by 40%. It was estimated to be $8.5 billion in the United States in 2013 [and] forecasts projected that figure to reach $13.5 billion by 2018” (pg 5). However, much of this market’s revenue -- 85% in fact -- is dominated by five major brands, while the remaining 15% is split between approximately 30 regional and national companies. (pg. 5). With this saturated market, it might not be best for Crescent Pure to enter as a completely new product to the industry, as there is the possibility that it will be squeezed out of the profit shares by more established brands -- especially if it is not properly secure in its identity. In addition, while the market for energy drinks appeared to be growing at an exponential rate compared to the market for sports drinks -- which increased only 9% in five years and would be at approximately 60% of the rate for energy drinks in 2017 (pg 6) -- the consumers appeared to be wary of partaking in the market for several reasons, which would potentially harm the reach of Crescent Pure. These concerns included rising news reports discussing the safety of energy drinks (pg. 5). Taking into consideration the data provided in the case that concerns reasonings of why consumers choose specific drinks over others, there
In strategic planning, strength, weakness, opportunity and threat (SWOT) analysis is a tool used to identify those issues most likely to have an impact on a planned change now and in the future (Laureate Education, 2013f; Marquis & Huston, 2015). A SWOT analysis helps an organization further its mission, vision, and values by ensuring the planned change remains true to these statements.
At one point, Joseph Biedenharn, an every-day salesman, invented bottled machinery for his soda fountain. Five years af...
Great post Pamela. I would agree that Yeti has taken a generic functional product and transformed it into an innovative product. Yeti has definitely made a brand image for itself. Even with their competitor’s cheaper products, Yeti is still dominating the market in this area. Back in December 2015, when I used to work at a sporting goods store, I remember the craze for Yeti cups. They were always on backorder and were always getting sold out. I remember when I used to get shipments of Yeti cups in, as soon as I pull them out the box to restock, customers would by multiple cups at one time. The need for a Yeti cups for a holiday gift during that time was so much in demand, that I had customers trying to bribe me and other coworkers with money
Wella is to sponsor Red Nose Day in March this year, introducing a limited edition red hairspray to coincide with the event, which takes place in the UK on March 11. With each sale of the spray, Wella will donate 50p to Comic Relief, which raises money for projects in both the UK and Africa.
“Harley Davidson motorcycle was established in 1903” in Milwaukee, Wisconsin by William S. Harley and the Davidson brothers. Within a few years both the demand and growth kept increasing in 1907 they begun to advertise. A couple of years later Harley Davidson came out with the V-twin engine that could reach speeds of up to 60 miles per hour (Peter & Donnelly Jr, 2013, p. 629).
Aim: To find out what type of insulation holds the most heat for a can
The yeti is a mysterious beast that lives in the himalayan mountains.the himalayan monster was first spotted in the 1900 . the only evidence of the monster was huge footprints 21,000 feet above sea level.he is said to be tall than the average man and attacks by throwing huge rocks at his prey.”when the abominable snowman is angry or started, it makes frightening sound. it cries a high pitch whistling sound that can be heard for miles. The belief is that the yeti could be true and can be supported by the huge footprints found in the Himalayas.
C1 Marketing Strategy requires Research to find out. Customer Requirements – Is there a market for liqueur ice creams? The Right Products to Develop to Meet Customer Needs – Which? liqueurs would the consumer’s prefer/buy the most? Which product variation is preferred to be used?
about how energy and resources are used to produce the "soon to be wasteful" bottles. According
...ors to read temperatures. These sensor-enabled tags have proven very useful for tracking in the cold chain/food chain industry. The food product is tracked from the point of origin to the point of sale to monitor its environment. With the recent produce issues that have arisen, this technology can provide consumers with peace of mind about the safety of what they're eating. Further, the monitoring reduces shrink that may occur with produce being transported in too hot or too cold of a truck.
Nowadays, refrigeration and freezing had become the most popular method for food preservation. It is a desirable way to preserve food because at low temperatures which around –10°C to –25°C, chemical reactions very slowly thus it will make the bacteria in food hard to survive.