The company came up with a new product that suits the taste of its customer and made an innovation to attract more attention. Keto chips will make up of cheddar cheese, sea salt, onion powder garlic, and chilli powder, cumin and paprika, and Calamansi syrup. The most significant value proposition for combined marketing campaign will be directed to the nutritional value in each bottle. The name Keto chips give an impressive and highly distinguished brand name, permitting for incredible labeling abilities. Price-size distribution of Keto chips
|
200grams sachet |
$1.99 |
|
300grams sachet |
$2.99 |
|
500 grams sachet |
$4.49 |
|
1kilogram sachet |
$7.99 |
The threat of entry (low): in term of products differentiation, the existing firm has a good brand image and customer loyalty (Bunn and Ellis 2012, pp. 660). Therefore, it is going to be very difficult for any new entrant to have the capital required to contend with such firms (Cunningham and Harney 2012, pp. 57).
The threat of substitutes: there will be little threats to the KETO chips and people are preferring to eat healthy foods, easy and conveniences one. Influence of customers: the UK consumers negotiating power is high as there is low cost in switching to another product (Mosley and Barrow 2013, pp. 37).
Power of suppliers: there is a wide range of suppliers with direct competition and thus, the retailer can change suppliers with low cost.
Competitive rivalry: the competitions among the business will affect the industry’s profitability. (Felgate and Fearne 2015, pp. 471)
Cultural moves towards reducing anxiety and stress, and adopting a more mindful attitude, is seeing and focusing more on health and self-care (Alexander and Doherty 2009, pp. 6). The portability and ease of keto foods mean more brands are diversifying their products range including the health-boosting offerings. Personalisation is growing trends which are largely driven by a faster pace of life, an evolving need for conveniences and higher digital expectation from users (Aaker 2012, pp. 12).
Various supermarkets have differing strategies trying to appeal slightly diverse types of clients (Piercy, Cravens, and Lane 2010, pp. 5). The shops can be subdivided into higher status and price (Waitrose and M&S). By values, more ranges, and special offers (Safeway, ASDA, Morrison, and Tesco). Lower prices and bargain stores (Iceland, Lidl, Somerland, and Aldi) (ASDA 2017).
The objective of a company is to provide a quality product and avoid anything detrimental to the consumer’s health. The firm objectives are to increase the promotion and distribution and maintain price. The objectives are based on creating customer’s loyalty and good relationship while promoting the company’s sales and profits (Harrison 2013, pp. 41). .
From a broad perspective, the company campaign’s general target markets are college students. For effective marketing, it is vital to divide the market upon product, psychographics, demographics, and psychographics positioning (Krafft and Mantrala 2010, pp. 7).
The firm uses for four marketing operation (price, product, place, and promotion) and also intensive development. The objectives of each marketing mix are definite to make the company achieve its mission statement (McLoughlin and Aaker 2010, pp. 12).
The company offers a wide variety of Keto chips. A wide variety of company’s products complements each product and thus provides a customer with diversity. The company will have to increase the range and quality of the products to cover a large market segment (Morschett 2011, pp. 15).
The company intends to include more colleges and universities to its retail intermediate to boost Calamansi its Keto chips products. Additionally, the firm will start to offer the new product to grocery marts, college campus stores, and restaurant in streets.
The company will use event sponsorship, in-store sales promotions, interactive internet programs such as Facebook and press release (Hensmans, Johnson, and Yip 2013, pp. 22). The messages the company delivers to the customers will attract attention and address the users’ needs (Keller 2013, pp. 114).
The company’s valuation must reflect the expenses of the college’s students due to the targeted demographic. The best and appropriate method to access the market is to use price penetration strategy (Mosley and Barrow 2013, pp. 36).
Action plan: Actions plan will include also place and distribution plan. The locations of outlets could be available and within the reach of fragmented markets. With a view to reinforcing the brand recognition and awareness, there will be promotional mix including the television and online media.
Budgets: the company wills impellent 50% of its total return on investment to impellent the promotional mix (Hitt, Ireland, and Hoskisson 2008, pp. 8).
Mechanism and control mechanism: The Company will use benchmarking to display its huge expediency in monitoring progress and activities in a suitable method.
Product differentiation:
Supermarket, particularly the leading opponents are trying to create new ranges. The advantages are that the company gets the added value through the product differentiation either through premium price (Wood and Gibbs 2014). Other issues are the prices: supermarket is believed no longer contest on the issue of price but still needs much consideration.
References
Aaker, D.A., 2012. Building strong brands. Simon and Schuster, pp. 11-23.
Alexander, N., and Doherty, A. M. (2009). International retailing. Oxford: Oxford University Press, pp.5-9.
ASDA (2017) About us, available at <https://www.asdasupplier.com/about-us/aboutasda> [Accessed on 28 April 2018].
Bunn, P. and Ellis, C., 2012. Examining the behaviour of individual UK consumer prices. The Economic Journal, 122(558), pp. 660
Cunningham, J., and Harney, B. (2012). Strategy & strategists. Oxford: Oxford University Press, pp.56-61.
Felgate, M. and Fearne, A., 2015. Analyzing the impact of supermarket promotions: A case study using Tesco clubcard data in the UK. In The Sustainable Global Marketplace Springer, Cham, pp. 471-475.
Harrison, A. L. (2013). Business environment in a global context. Oxford: Oxford university press, pp. 40-44.
Hensmans, M., Johnson, G., and Yip, G. S. (2013). Strategic transformation: Changing while winning. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan, pp.21-26.
Hitt, M. A., Ireland, R. D., and Hoskisson, R. E. (2008). Strategic management: Competitiveness and globalization. Mason, Ohio: South-Western, pp.7-14.
Keller, K.L., 2013. Brand equity and integrated communication. In Integrated Communication, Psychology Press. pp. 113-142.
Krafft, M., and Mantrala, M. K. (2010). Retailing in the 21st century: Current and future trends. Heidelberg: Springer, pp. 5-15.
McLoughlin, D., and Aaker, D. A. (2010). Strategic market management: Global perspectives. Hoboken, N.J: Wiley, pp.10-19.
Morschett, D. (2011). European retail research: Volume 25, Issue I. Wiesbaden: Gabler Verlag ,pp. 14-18.
Mosley, R., and Barrow, S. (2013). The employer brand: Bringing the best of brand management to people at work. Hoboken, N.J: Wiley, pp.35-38.
Piercy, N.F., Cravens, D.W. and Lane, N., 2010. Marketing out of the recession: recovery is coming, but things will never be the same again. The Marketing Review, 10(1), pp.3-23.
Wood, Z. and Gibbs, S., 2014. Tesco to launch own brand smart phone. The Guardian, 7th May 2014. [Online]. Available at <https://www.theguardian.com/business/2014/may/07/tesco-to-launch-own-brand-smartphone> [accessed on 27 April 2018].
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