This paper deals with the company Natural Food Evolution, Australia along with its various marketing aspects. NFE is an organization, which is famous for producing the natural food products as well as beauty products. The quality of the products is very high and the customers are satisfied with the products. The founder of this organization is Rob Watkins. This company produces healthy foods but there is the company undertakes no wastage of the resources because of the recycling process. The paper focuses on the situation analysis as well as the marketing strategy of the company so that an effective marketing plan can be developed. The strategic decisions are very important to beat the competitors in the market. The other food manufacturers like Happy Tummy, The Deeks are the major rivals of NFE. To beat the competitor NFE should provide distinguishing features and uniqueness of their brand with significant value for the customers (Rodrigues et al., 2015). Effective marketing strategy is required for meeting the goal of the company. In this paper, the marketing and financial objectives of NFE have been explained properly and the analysis of customer segmentation and target marketing of the company has also been discussed. This paper also presents the Marketing Mix, budget allocation and other strategic plans of the organization along with the implementation concept of these strategies (Patino, Pitta, & Quinones, 2012).
NFE is a reputed food and beauty products manufacturer company, which has its satisfied target customers who are too rich and well off to compromise on the quality of the products. They like to prefer to buy the quality and reliable products rather than to but at a low price or on discounts. The people can see and buy the products online as the company uses the social networking sites to promote their products and through e-commerce. The products can be available remaining at home due to the online services. Hence, the marketing of the company has discovered a very positive and promising business approach through these necessary tools. The customers are being satisfied with the products of the company for years. The product reviews by existing buyers influence to grab more customers and the customers tend to rely on the products of NFE. The products also can be purchased via credit and debit cards (Kim, 2017).
It is necessary for any company to opt for the appropriate customer segmentation, target marketing for making an effective marketing strategy. The right decision of customer segmentation and target marketing can secure a strong position in the company in the market-beating all the competitors. These factors of market strategy are going to be discussed in this segment.
There are four types of customer segmentation such as demographic, geographic, behavioral and psychographic. The geographic segmentation refers the selection of the customers based on some places, demographic segmentation refers the segmentation of the customers based on age, behavioral segmentation refers to the segmentation of the customers depending on the behavioral pattern and taste, the psychographic segmentation depends on the lifestyle and the mentality of the customers. In this case, the company has chosen the psychographic segmentation. This is because it is the most valuable type of segmentation, which helps in focusing in individual purchase intent and styles of the target segment and thus can focus appropriately on production and marketing (Cross, Belich & Rudelius, 2015).
The Natural Food Evolution produces super healthy food products. The innovation and the farming techniques of the process of food production cost much. Hence, the cost of the products is also high. The people belonging to the rich and upper-middle class only can afford to buy these products. The customers are too much health conscious. The customers of the NFE believe in the healthy lifestyle. The company does customer segmentation according to the age. Some products are produced for the children, some of the products are meant for the age-old people, and some products are for the people who are in middle age. The age-old people are the more in numbers, as they require the healthy foods as their digestive system are not as strong as the young people.
Targeting
The super healthy products manufactured by the NFE are extremely expensive as the production costs are high for applying the innovations as well as the new farming techniques. The farmers who have the passion for growing the highly nutritious foods produce these food items. The target customers of this company are highly health conscious and believe in a healthy lifestyle and will involve a considerably big enough criteria size to justify the target segment. The company knows very well that their products will not be sold to the people of all economic classes and thus measurable differences exist between segments. The company has the very selective target class of people who come from rich and upper-middle class who are easily accessible. The doctors often prescribe the food products of NFE. The products should be with the health value to such an extent so that these health conscious people can be satisfied (Ruiz-Pava & Forero-Pineda, 2018).
Positioning
NFE holds a significant position in the market of the organic and healthy food products. The positioning statement of the company will involve “food for life.” The competitors can be beaten by an effective marketing strategy and proper promotion of the products. The products can be displayed on the social media and the description of it should be available on the social platforms. As the company provides the self-grown gluten free and dairy free products having the distinguished value, the people are generally attracted to them. The uniqueness of the brand lies in the fact that foods are processed at the self-harm of the company leads to secure a strong position in the market. The responses and the feedback from the customers are quite satisfactory and this helps to ensure the company to hold the top rank in the market for organic foods throughout the world. The strategic decision regarding the promotion and branding must be effective to compete for the other rivals and for securing a high position in the market. Following is the positioning map for the company (Liu, Liao, Huang & Liao, 2018).
Every organization should have the particular marketing and financial objectives as the part of the marketing strategy to make the business more profitable. NFE also has some particular marketing goals and objectives for the growth of the business. The goals and targets should be fixed deliberately and they must be implemented properly to be achieved. The marketing, as well as the financial objectives, are being discussed below: (Saleh, 2015).
These objectives and goals should be achieved for the growth of the business. The fulfilment of the objectives will lead the company to build its stronger brand value and make a more positive image of the organization. The customer base can be increased if these objectives can be implemented properly (Terkan, 2014).
Marketing Mix
There are certain combinations of factors that can be controlled by the food organic company like NFE to influence the consumers so that they can purchase their products. The Marketing Mix is considered to be the foundation model in the marketing strategy. The set of marketing tools that are used by any company like NFE refer to the four factors of marketing decision namely product, price, place, and promotion (Baker, 2014).
Product
The products produced by NFE are the super healthy organic natural food products. The products are on high demands by the people who are health conscious. The foods are naturally grown at the own farms of the farmers who are passionate about growing the natural highly nutritious foods (Worsley et al., 2014, p.75). The quality of the products should be retained and controlled becausethe company itself supplies all the ingredients and the self-grown raw materials. The people who believe in a healthy lifestyle prefer the gluten free and dairy free natural food products. The doctors often prescribe the food items produced by NFE. Hence, the quality of the products must be more enhanced by applying the innovations and new farming techniques (Helms & Nixon, 2010).
Price
The value-basedmodel has to be chosen in pricing the food products by NFE. The customers are concerned about the quality of the product rather than the price of the products. The food items are produced by the company specifically for the rich and health conscious people who can afford the expensive price of the products. If the production cost increases, the company can also increase the prices of the products but can never drop the quality of the foods (Solomon et al.,2014).
Place/ Distribution
The food items produced by NFE cannot be sold at all the places. The company has to select the locations where the rich and well-off people reside. The outlets of the products can be situated beside the doctors’ chamber the products are prescribed by many doctors also. The online distribution can be most effective as the people can see the products and know about it thoroughly in the social media. People can also order the products via online. The products are mostly sold in the metropolitan cities and the posh areas of Australia and other countries (Resnick, Cheng, Simpson & Lourenço, 2016).
Promotion
Promoting the brand and the products are the most essential part of the marketing strategy. The food products naturally grown by NFE should be promoted along with the description of their nutritious value on the social media and official websites. The advertisements can be given in the newspapers as well as in medical journals and magazines. The doctors and the nutritionists can be involved in the process of advertisements and promotions (Adom, Nyarko, & Som, 2016).
To gain the profit in the business a proper marketing strategy should be fixed and implemented properly with insight. NFE has to build an effective marketing strategy so that the quality of the food products can be retained. The wastage of the resources can be avoided by recycling of them.The management of the company should set the right expectations. The factors of the marketing mix as well as the target marketing and the customer segmentation, positioning should be well conceived and formulated. Besides formulating, the strategies they should be implemented well (Ang, & Rusli, 2018, p.52). The contribution of the employees, teamwork and the proper leadership will lead the company NFE to implement the strategies properly. The implementation of the strategies must be monitored at regular interval. The market assessment is quite necessary for making and implementing the strategies. NFE should always take and evaluate the responses and feedback from their customers and it is the duty of the management of the company to satisfy all the needs of the customers. The quality control department of the company should assess and monitor the satisfaction of the clients. The efforts of the company should be overviewed by the managing board. The trust and reliability of the customers should be the ultimate concern of the business (Olson et al., 2018, p.65).
The detailed information of the budget of an organization is one of the most important factors of the marketing plan. The detailed estimate of the allocated expenses for all the required resources of the company is presented through a budget to achieve the goal of the business. A budget plan with the detail of the estimates of various required resources of NFE is being presented below
|
Resources and Marketing Activities |
Costs (AU$) |
|
Market research for identifying digital marketing media |
5000 |
|
Digital marketingContent development |
5,000 |
|
Paid Advertising expenses |
|
|
Television commercial advertising |
8000 |
|
Social media marketing · YouTube |
5000 |
|
Online advertising through website and popup webpages |
5000 |
|
Newspaper advertisements publishing |
2000 |
|
Billboards, and leaflets distribution |
6000 |
|
Branding |
3000 |
|
Other expenses |
1000 |
|
Total |
40,000 |
Above is the budget plan for the company NFE. The estimated budget is AU $40,000. This is a cost budget plan. For the market research and other marketing activities, the total allocated cost is AU $ 5,000. The total cost of the content development is AU $5000. The paid advertisingexpense is considered to be the highest cost in the whole budget. The cost for branding, promotion and production launching has been provided in the above detail (Datta, Ailawadi & van Heerde, 2017, p.15).
Conclusion
This paper has presented a satisfactory marketing plan for Natural Food Evolution, Australia. The effective marketing strategy and the marketing plan influences the development of the business and growth of the company. This paper has suggested the marketing objectives, goals, and the essential marketing factors, which can grab more customers leading to the make the business more profitable. The marketing strategy including the customer segmentation, targeting and the factors of marketing mix such as products, price, distribution and promotion of the company have been discussed in this paper along with the detailed information of a budget plan (Nagle & Müller, 2017, p. 62).
The management of the company NFE should be more thoughtful regarding the quality of their food products. The new innovations and farming techniques can be tried. The new scientific researches should be encouraged and invested by the company. The advertisements should be more attractive. The opinion of the doctors and the medical experts, as well as the nutritionists, can be taken for enhancing the quality of the products. They can be engaged in the promotional activities also (Hullavarad, O’Hare, & Roy, 2015, p. 262)
References
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