Provide insight into the Boost Juice brand and evaluate the success of the brand in Australia.
The ever increasing health consciousness has improved the overall revenue of the Juice as well as smoothie bars since the past six years. Modern day consumers growing concern regarding their unhealthy diet and obesity have increased the demand vegetable and fruit products. Juice and smoothies industry have highlighted the healthy benefits regarding their products, which proved advantageous for them. The overall industry revenue is expected to grow in the upcoming years and reach 404.4 million dollars by the year 2018. This also includes the projected growth of around 1.8% in the recent years (Boostjuice.com.au 2018).
Boost Juice have dominated the Australian economic industry over the past years. The report consists of the overall marketing techniques used by the Boost Juice Company in Australia. Furthermore, it discusses about the marketing techniques which will be applicable for the American market. In addition to this, it throws light on some marketing theories and the cultural differences which influences the marketing decisions of both the countries.
Boost Juice Bars is one of the famous smoothie and juice brands loved by all. It was formed in the year 2000 and has expanded internationally with many stores operating in Europe, Asia, South Africa, United Kingdom, India and other countries. Recently, the company is planning to expand its market in the United States. However, some of the marketing techniques used by the brand in the Australian market are being discussed in this segment of the report. The company’s existing marketing plan heavily counts on the product innovation ideas and other marketing mix strategies for different target groups. In the modern day’s market, where the number of competitors is increasing day by day, the Boost Juice Company is using the product differentiation strategy in order to segregate their products from the existing competitors (Menzies and Orr 2014).
The Boost Juice Company’s key competence is their innovative ideas of making juice and the way they cater to their audiences. The company has created an image, healthy and fresh scheme, which is designed to attract the young Australian market. The company’s unique marketing strategy of delivering the message to the audience is even copied by its competitors, which is a plus point as brand loyalty plays a crucial factor in here. Boost Juice Company is happy with their unique marketing strategies and campaigns. The company even has some programs and offers for their regular customers. One such example is; The Vibe Club program ensures that the customers receive a free cup of drink on their birthdays and other special days. However, the company should also plan on improving their strategies in order to leave a mark on their consumers’ minds (Yee 2013).
Being a global brand, the Boost Juice Company understands what is actually required for entering the new international market segments successfully. The company has experienced and dedicated international staffs who works together in order to customize the marketing activities, store designs as well as product offerings for ensuring that the Boost Juice Company becomes the most loved brand in all the markets. Boost Juice Company can use its differentiation strategy in the American market as well, in order to attract the customers. Moreover, the company uses an innovative strategy of marketing their products, which is applicable for the American market also. The company since its inception has led a unique approach of marketing, which consists of above the line and below the line campaigns (Allis 2013).
Boost Juice Company has been quite successful in building a well recognized profile in the past fifteen years. Several methods have been utilized by the company in order to market its products in the international platforms. However, the company can adopt certain strategies for the American market segment. This includes above the line advertising like television and radio campaigns. In addition to this, social media platforms can be utilized for successful promotional activities. Moreover, below the line methods include electronic direct mail via database, smart phone applications, public relations, engaging websites as well as media coverage. The Boost brand can market their products via major and minor campaigns as well as local area marketing. Thus, the company, without any hesitation, can use these techniques for brand promotion (Wahl 2012).
The factors which are influencing the company’s marketing decisions in both America and Australia are discussed in this segment of the report, in the form of PESTLE and SWOT analysis.
Political Factors
The political factors include the agreements of closer economic relations; the company has to face in different countries. Boost Juice Company has various branches in different regions. It has accessibility to the tax free imports of the ingredients from other countries. The existing agreement benefitted the company with cheap fruits as well as milk products’ supplies. In addition to this, according to “Trade Practices Act 1974”, the company is under protection which ensures a free as well as competitive market. Boost Juice Company has equal opportunities, just like other companies of the country (Solomon 2014).
Economic Factors
The economic factors which influence the consumer behavior, economic policies of various countries, trade policies and the diplomatic events in the surrounding countries can affect the business environment.
Social Factors
This includes; consumers’ behavior, lifestyle, their diet and others.
Technological Factors
The company does not require any advanced technological support and therefore, the technological environment is quite friendly for the Boost Juice Company. In addition to this, the company has created a web page and designed it in a friendly and attractive way, in order to cater to the consumers.
Legal Factors
The legal factors of various countries differ from each other. However, the company has various agreements and policies, which allow them to compete with their competitors and provides them with equal opportunities (Mullins, Walker and Boyd Jr 2012).
Environmental Factors
The environmental factors include; the company’s decision making strategies, marketing strategies and performance.
|
Strengths |
Weaknesses |
Opportunities |
Threats |
|
· Low cost production. · Production capability as well as flexibility. · Well known brand. · High profitability. · Lower requirement of staff skills. · Owning the cultural preferences. |
· The company highly relies on the apply chain. · No price advantage. |
· Healthier lifestyle trends in Australia. · Partnerships with other companies. · Successful overseas operations. |
· Relies heavily on the seasonal factors. · Open market scenario allows the entry of new competitors. · Hard to take the market share of other countries’ brands (Armstrong et al. 2015). |
The Hofstede’s cultural dimensions theory refers to the framework for the cross cultural communication. It describes several effects of the society’s culture on its members’ values. Those values are also relatable to the behavior of the consumers and the structures derived from the factor analysis. The company uses several factors from this theory like the international communication, international negotiation, international management, international marketing and others (Green, Whitten and Inman 2012). Other theories which the company takes under consideration are the market segmentation theories and the marketing mix theories. The company concentrates on their products that are mostly preferred by the teenagers, young adults and fitness freaks. The market segmentation theory includes the selection of the target markets. The company highly concentrates on the cultural influences and customer preferences. In addition to this, Boost Juice Company also lay emphasis on their positioning strategies (Cronin-Gilmore 2012).
The company concentrates on their products which are highly preferred by their target group of consumers. For instance; the main product of Boost Juice Company in New Zealand is their ice cream, which is basically a junk food for the youth and consumed especially during holidays and leisure time. The marketing mix strategies of the company include the segmentation of their products, place, price range and promotion. The company offers a wide range of products ranging from health and nutrition to low fat smoothies, sporty smoothies and others (Gabrielsson, Gabrielsson and Seppälä 2012). The company is located in various countries and regions, with variety of price range. Moreover, the company has decided to maintain a competitive policy of pricing in order to penetrate the market of both the rural and urban areas. In addition to this, the company promotes its products on various platforms, including the digital media as well (Sah and Fugh-Berman 2013).
Conclusion
To conclude, after a thorough analysis of the marketing strategies as well as approaches of the Boost Juice Company, it is clear that they are highly focusing on their market shares by enhancing the consumers’ satisfaction. It is recommended that the strategies can be used for contributing to the companies’ economic growth. Moreover, the company needs to reshuffle its strategies and ideas in order to compete with the new market entrants. In addition to this, the Boost Juice Company can also keep a track of their internal structures in order to maximize their resources as well as revenue. The food industry is a competitive and complex industry, therefore, Boost Juice Company should pay equal attention to improve its internal structure and reduce their weaknesses. This can also be done by motivating and encouraging their employees and staff members, recruiting experienced and skilled workers for the company’s betterment and also decentralizing the decision making strategies for embracing diversity as well as well analyzed concept and idea
References
Allis, J., 2013. The Secrets of My Success: The Story of Boost Juice, Juicy Bits and All. John Wiley & Sons.
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.
Boostjuice.com.au (2018). Cite a Website – Cite This For Me. [online] Boostjuice.com.au. Available at: https://www.boostjuice.com.au/downloads/Boost_Study_Kit.pdf [Accessed 1 Jan. 2018].
Cronin-Gilmore, J., 2012. Exploring marketing strategies in small businesses. Journal of Marketing Development and Competitiveness, 6(1), p.96.
Gabrielsson, P., Gabrielsson, M. and Seppälä, T., 2012. Marketing strategies for foreign expansion of companies originating in small and open economies: The consequences of strategic fit and performance. Journal of International Marketing, 20(2), pp.25-48.
Green, K.W., Whitten, D. and Inman, R.A., 2012. Aligning marketing strategies throughout the supply chain to enhance performance. Industrial Marketing Management, 41(6), pp.1008-1018.
Menzies, J.L. and Orr, S.C., 2014. Internationalization of boost juice to Malaysia. Asian Case Research Journal, 18(01), pp.175-197.
Mullins, J., Walker, O.C. and Boyd Jr, H.W., 2012. Marketing management: A strategic decision-making approach. McGraw-Hill Higher Education.
Sah, S. and Fugh-Berman, A., 2013. Physicians under the influence: social psychology and industry marketing strategies.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Upper Saddle River, NJ: Prentice Hall.
Wahl, D., 2012. A concentrated business plan. Boost Juice Company.
Yee, B., 2013. Boost juice bar: Case study. Publications Oboulo. co
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