The primary motive of this paper is to discuss and outline marketing strategies that are adopted by Boost Juice in Australia. The company has decided to launch its juices in America. For this purpose, the company has to make innovative and dynamic strategies in America to stay in the international market. Boost Juice is am retail Australian company that deals with enormous health products like protein, smoothies, energy drinks and juices. The three theories including segmentation, marketing mix and hofstede communication theory have been explained in the task widely.
Boost Juice is an Australian retail outlet that mainly specializes in selling ample of smoothies and fruit juice. Boost Juice was incorporated in 2000 with its headquartered is located in Melbourne, Australia (Boostjuice, 2018). The company has expanded and explored its business internationally with stores in South Africa, Europe, Asia, United Kingdom and India. The main mission of Boost Juice is to provide healthy and tasty juices and smoothies to the customers across the globe (Boostjuice, 2018).
It is analyzed after the various studies that Boost juice uses innovative and unique market techniques to compete with rivalries globally. Boost Juice has been able to uplift its profitability and outcomes in Australia by using innovative marketing techniques. The company uses marketing mix strategy that covers 4Ps such as product, price, promotion and place. Product strategy is essential to manufacture and introduce new and healthy products globally. In pricing, the firm uses low cost pricing strategy to earn maximum profit margin. Aside this, place strategy is initiated by the corporation to provide fresh and tasty juice to the customers. Besides this, Boost Juice invest huge amount into the advertising and marketing strategy to encourage its products and services. This strategy helps in making a dynamic and unique brand position in the minds of the key target audience. Along with this, the firm also uses porter business level strategies to compete and strive with rivalries internationally. It is reported that Boost juice also uses diversification strategy in Australia to build and improve the quality of the products. With diversification strategy, Boost Juice could able to differentiate its juices over the rivalries in the competitive market (Daneshi et al, 2013).
It states that America is well known as the United States, is a nation comprised of 50 states, five unique self governing territories, a federal district and several possessions. The U.S is a short term oriented culture that helps in attaining competitive benefits over the rivalries. It is elucidated that various marketing techniques or methods can be used by Boot Juice in America for flourishing the business functions and activities. Firstly, the company would pestle analysis to understand and evaluate the market scenario of Juice in America. It is one of the fundamental strategies that could be used to eliminate and minimize the risks and challenges of the foreign market. Along with this, it is reported that the company can use SWOT analysis to identify and measure the opportunities and threats of competitive market. The company’s strengths and weaknesses further would be evaluated with SWOT analysis. Boost Juice would further use corporate diversification strategy to improve and enhance opportunities for profitability and growth in America. An effective and successful business strategy will help maximize revenue and sales as well as market share globally. Apart from this, market penetration strategy helps in capturing entire key target audience in America. Thus, Boost Juice will use market penetration strategy to attain growth and progress with existing products in their current market segments, aiming to maximize and enhance its market share. One of the vital strategies that might be used by the firm is product development strategy, Boost Juice can able to develop and enhance various types of juices in the United States. All these strategies would become a good option while exploring and initiating business in America (Khan et al, 2013).
Various studies reported that Australian and American culture is scarce and limited therefore, ample of culture differences issues are faced by Boost Juice in both the countries. The culture of Australia is more unique and powerful than America that helps in boosting market share and profitability. The Australians are more water conscious rather than Americans are. It is measured that Australians utilize their cutlery quite differently from United States (Crichlow, 2013). The retail sector is more strong and effective in Australia than America. It is measured that Aussies entrusted in the rules and principles of a welfare state where it is not done by United States. Unions and labor unions are stronger and dynamic in Australia than America. It has been found that politics is more effective and diverse in Australia as compared to America. Thus, Boost Juice is able to meet the long term needs and requirements of the business. Australia has a very high minimum wage which is highest across the globe. On the other hand, Land is not too much expensive in the United States. It is noted that Australia was strongly and politically tied to the United Kingdom but could not break the politically such as USA. The culture of U.S. is highly influenced or affected by the politics of Australia. The community in Australia is more egalitarian and equal than U.S. Thus, various challenges can be faced by Boost Juice while exploring business in America (Parry and Urwin, 2011).
It is stated that the company may apply three theories while conducting business in America that have been discussed below.
Hofstede’s communication theory: It shall be evaluated that Hofstede’s cultural dimensions theory is a structure and tool for cross cultural communication that is built or propounded by Geert Hofstede. The six dimensions theories for Australia and US have been discussed below.
Power distance: Australian has low ranked 36 in this dimension while America has 40 ranked in this dimension (Hofstedeinsights, 2018). It means Americans are more equal and unique. It will help Boost Juice to gain rivalries benefits.
Individualism vs. collectivism: Australia has got 90th ranked on this dimension that means it is a highly and effectively individualistic culture and society where as America has tanked 91 in this dimension. It means also follows individualistic society as compared to Australia (Hofstedeinsights, 2018).
Masculinity: Australian country scores 61 in this dimension (Hofstedeinsights, 2018) and it is considered a masculine community which help in attaining rivalries benefits. On the other hand, U.S. also pays much and high attention on achievement, growth and competition.
Uncertainty avoidance: Australia got 51 scored on this dimension whereas America scores 46 in this dimension (WordPress, 2013). It means American culture and values are not open to accept new situation or circumstances.
Long term orientation vs. short term orientation: Australia has a normative and unique culture thus the country has scored 21 in this dimension (Bartleby, 2013). In the contrary, American has 29 scored in this dimension that means America and Australia both are not much better than other countries (WordPress, 2013).
Indulgence: In this dimension, Australia has scored 71 that means people in communities categorized by a high and excellent score in indulgence that America (Hofstedeinsights, 2018).
Market segmentation theories: It is one of the significant theories that can be applied by Boots Juice in America to attract wide range of customers across the globe. Segmentation is a process or tool to divided entire target audience into the different units (Furnham and Gunter, 2008). The segmentation is done by Boost Juice after considering the four areas such as geographic, demographic, behavioral and psychographic areas. Under geographic segmentation, the company would focus on the preferences, choices, and needs of the youngsters and kids in America. The demographic segmentation includes nationality, age, gender, occupation and race. Behavioral factors such as lifestyle, consumption and usage are included in the behavioral segmentation which help in targeting ample of customers in the international market. The psychographic segmentation entails personality traits, opinions and values which help in maximizing returns and revenue in America. The company can use this strategy to promote a healthier lifestyle in the country. The majority of key target audience prefers fresh juices and further 60% of the consumers are females (Baker and Saren, 2016).
Marketing mix strategy: The marketing mix helps in building and improving marketing strategies through the 4Ps: product, price, place and promotion. The marketing mix strategy for Boost Juice has been discussed below.
Product: It is stated that the company has introduced new and innovative products such as protein juices, fruit juice bars and energy boosters to satisfy and measure the needs and desires of the customers. This strategy is essential to stand out against the competitors internationally (Morgan, 2012).
Price: It is noted that the company can use low cost pricing strategy to increase and enhance the sale of fruit juices in America.
Place: In order to render fresh and healthy products, the company needs to open its stores across the nation. The firm further operates and manages on a franchising model system.
Promotion: It is reported that the company has invested huge money on the promotional and advertising strategies to promote and improve its products and services globally (Aaker and Biel, 2013).
It is recommended that Boost Juice should focus on the quality and quantity of the products that have been offered by them. The company must tie up with other sports companies or adventure organizations to encourage its juices and other products. To expand business in America, the company must implement partnerships with other health products organizations. The firm further should focus on developing and improving its human resources to compete with other companies and to launch Juices in America smoothly and effectively. In this way, the organization can easily flourish and explore its business actions in America.
Conclusion
To conclude, it is elucidated that Boost Juice focuses on the marketing strategies and niche market in America to capture health conscious customers. Here is the discussion about the marketing techniques that can be applied by the company in America in order to initiate business in such country. The above analysis indicates that how the firm uses communication strategies, marketing mix and segmentation strategies to implement new business functions in America.
References
Aaker, D.A. and Biel, A.L., 2013. Brand equity & advertising: advertising’s role in building strong brands. Psychology Press.
Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Bartleby.2013. Hofstede’s cultural dimensions US vs. India essay [Online]. Available from https://www.bartleby.com/essay/Hofstedes-Cultural-Dimensions-Us-vs-India-FKCRW8EKVJ [Accessed as on 2nd October 2018].
Boostjuice.2018. About us[Online]. Available from https://www.boostjuice.com.au/about-boost-juice/ [Accessed as on 2nd October 2018].
Crichlow, W. ed., 2013. Race, identity, and representation in education. Routledge.
Daneshi, M., Ehsani, M.R., Razavi, S.H. and Labbafi, M., 2013. Effect of refrigerated storage on the probiotic survival and sensory properties of milk/carrot juice mix drink. Electronic Journal of Biotechnology, 16(5), pp.5-5.
Furnham, A. and Gunter, B., 2008. Children as consumers: A psychological analysis of the young people’s market. Routledge.
Hofstedeinsights.2018. Country Comparison [Online]. Available from https://www.hofstede-insights.com/country-comparison/australia,the-usa/ [Accessed as on 2nd October 2018].
Khan, R.S., Grigor, J., Winger, R. and Win, A., 2013. Functional food product development–Opportunities and challenges for food manufacturers. Trends in food science & technology, 30(1), pp.27-37.
Morgan, N.A., 2012. Marketing and business performance. Journal of the Academy of Marketing Science, 40(1), pp.102-119.
Parry, E. and Urwin, P., 2011. Generational differences in work values: A review of theory and evidence. International journal of management reviews, 13(1), pp.79-96.
WordPress.2013, Hofstede’s five cultural dimensions between China and the USA[Online]. Available from https://zhel2013.wordpress.com/2013/03/25/hofstedes-five-cultural-dimensions-between-china-and-the-usa/ [Accessed as on 2nd October 2018].
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