Submission date: Essay Example

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    Business
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  • Level:
    High School
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Report 11

Establish and Adjust marketing Mix

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Submission date:

Establish and Adjust marketing Mix

Executive Summary

In the recent years, retailers have embarked on manufacturing and packaging their own brands. This is in a bid to diversify business in addition to maximization of profits. The following report will analyze products in the pineapple juice ranges. The report will use Woolworth’s pineapple juice as the case product. The report is divided into four stages. Stage 1 will analyze various aspects of the products. The second stage will discuss the highlighted products with respect to branding, price analysis, shelf position, product comparison and lastly the advantages and disadvantages experienced by Woolworth’s pineapple juices over the other products. The third stage will search whether the selected products use any other means of pricing, promotion and distribution so as to gain competitive advantage in the market. The last section will give recommendations of a possible marketing mix to Woolworths Pineapple juice.

Table of Contents

2Executive Summary

21.0 Introduction

32.0 Stage 1

53.0 Stage 2

64.0 Stage 3

75.0 Stage 4

86.0 Conclusion

8References

1.0 Introduction

In the recent years, many supermarkets and other retailers have turned to manufacturing, packaging and selling their own consumer products. This has led to the development of the so called generic or home products which are providing a substantial level of competition to the already established brands (Prendergast & Marr 1997, p. 95). Ideally, it is normal nowadays to see Woolworths or Coles branded products displayed alongside reputable brands such as Coca Cola and Pepsi. The following report will analyze Golden Circle Pineapple juices which are packaged by Golden Circle Company and pineapple juices packaged by Woolworth’s supermarkets.

2.0 Stage 1

Product/ Brand Name

Brief Description of the Product

Volume/content number

shelf price

cost per gram

Golden Circle Pineapple Juices (Golden Circle, 2013)

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$5.76 per 2 liters

$2.88 per 2 liters

Woolworths Pineapple Juice (Woolworths 2013, p.1)

Submission date: 1

$2.15/ liter

Speryton Fresh Apple Juice

Submission date: 2

4 and 2 liters

$ 5.0per 2 liters

$ 2.5 per liter

Woolworths Select Pineapple Juice (Woolworths 2013, p.1)

Submission date: 3

$ 4.29 per 2 liters

$1.79 per liter

Australian Grown

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$6.03 per liter

$ 4.3 per liter

Golden Circle Pineapple pieces in natural Juice (Woolworths 2013, p.1)

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2.25 grams

$ 1.72 per kilogram

$ 7.64 per kilogram

3.0 Stage 2

Branding

Looking at the products highlighted above, it can be acknowledged that they have a stronger brand name as compared to Woolworths Pineapple juice. On this point, it is important to note that the strength of a brand is one of the major selling points for any product (Vukasovic 2009, p. 165). For this reason, it can be appreciated that the other products have a better chance than Woolworths to succeed in the market.

Price analysis

Looking at the various products selected above, it can be noted that Woolworth’s products retail at a lower price as compared to others (Woolworths 2013, p.1). This has given the product an added competitive advantage over the others. This phenomenon is in line with many generic / home brands which offer their products at a lower price as compared to others Prendergast & Marr 1997, p. 95).

Shelf position

Just as many retailers, Woolworths has placed its pineapple juices at a better shelf position as compared to other products. This aspect has a substantial effect on the purchasing decision of a customer. The better the position of a product on a shelf, the higher the chances of a customer purchasing it.

Product comparison

Comparing the products listed above, it can be noted that have similar characteristics except for the Golden Circle Pineapple pieces in natural Juice which have pineapple fruit pieces. The origin of the concentrate and pineapple fruits which are used to manufacture the products provides the major variation. There are claims that Woolworths sources its pineapples from Asia at a cheaper price; hence being able to provide its product at a cheaper price (Woolworths 2013b., p.1).

Advantages and Disadvantages experienced by Woolworths Pineapple Juices over the other products

Advantages

Woolworth’s pineapple juices are sold at a cheaper price; hence has a competitive advantage over the other products.

Woolworth’s pineapple juices are placed at a better shelf position as compared to other products, hence having a competitive advantage over the rest.

Disadvantages

Other products such as Golden circle pineapple juice enjoy a better brand name as compared to other companies.

Criticism from the market for instance with respect to the source of the fruits gives the juices a bad image in the market.

4.0 Stage 3

Woolworth’s pineapple juices are distributed by Woolworth’s supermarkets only. The retailer has a great supply chain which ensures that the company is able to meet market demands. In addition to this, the company employs a pricing strategy which enables the organization to have a competitive advantage in the market. Generally, the product meets the market stands which assure the customer of good value. Ideally, a consumer will generally opt to for Woolworths pineapple juices if the current parameters are held constant; hence consumer shifting is uncertain.

5.0 Stage 4

It is recommended that Woolworth’s pineapple juice should employ a strategic marketing mix which would place it at a more competitive position as compared to other products. The 4Ps marketing mix is recommended to Woolworths.

The company should continue to offer the product at a competitive price hence being able to beat the other products price wise (Grönroos 1994, p.5). The company must acknowledge that price is one of its major selling points.

The company should manufacture a product which meets recommended market standards (Bert, Peter & Firooz 1995, p.22). In addition to this; the company should embrace the buy and sell Australia ideology which enables the product to have a better image in the market.

The company may also think of providing its product or a variation of it products in other locations so as to bring about place utility (Collier 1991, p.43). This will continuously enable the company to create brand loyalty.

Promotion

Lastly, the company should evaluate various product promotion strategies which enable the company to create brand awareness in the market.

6.0 Conclusion

In conclusion, this report has been able to give an insight into generic products. The report has analyzed Woolworth’s pineapple juices with respect to other pineapple juices in the market. The report has identified that generic products have an advantage over other products retailing in the same retail store.

References

Bert, K., Peter, G., & Firooz, H., 1995. Product and pricing courses are underrepresented in undergraduate marketing curricular, Journal of Product & Brand Management, Vol. 4, no. 1, pp.18 — 25

Collier, D., 1991. New Marketing Mix Stresses Service, Journal of Business Strategy, Vol. 12, no. 2, pp.42 — 45

Golden Circle, 2013. Golden Circle Retrieved on 20th September 2013 from <http://www.goldencircle.com.au/>

Grönroos, C., 1994. From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing, Management Decision, Vol. 32, no. 2, pp.4 — 20

Prendergast. G., & Marr, N., 1997. Generic products: who buys them and how do they perform relative to each other, European Journal of Marketing, Vol. 31, no. 2, pp.94 — 109

Vukasovic, T., 2009. Searching for competitive advantage with the aid of the brand potential index, Journal of Product & Brand Management, Vol. 18, no. 3, pp.165 — 176

Woolworths, 2013. Woolworths, Australia’s Fresh Food People, Retrieved on 20th September 2013 from <http://www2.woolworthsonline.com.au/shop/ProductDetails?Stockcode=733594&name=woolworths-select-pineapple-juice>

Woolworths 2013b. Woolworths Limited, Retrieved on 20th September 2013 from <http://www.pc.gov.au/__data/assets/pdf_file/0005/125069/sub031-fruit-safeguards.pdf#page=1&zoom=auto,0,405>