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Analysis and Evaluation: Boost Juice Marketing Strategy

Discuss, analyze and evaluate the key concepts and characteristics that are pertinent to the Boost Juice Marketing Strategy.

Answer

BOOST JUICE MARKETING STRATEGY


Introduction

The management of an organisation adopts several business strategies that is fundamentally relied over the market strategies. Therefore, marketing is regarded as a fundamental function, which is carried out within business management. Implementation of latest technologies or the infrastructure does not create an abrupt or a direct influence over the company’s revenue. For creation of instant effect over revenue, the companies’ management used to implement strategies for enhancing the base of buyers in market targeted. Marketing procedure primarily emphasises over transformation of a company in an organisation that mainly emphasises over customers’ satisfaction. In comparison to previous decades, competition level amongst the business enterprises has enhanced significantly due to globalisation. It such situation of tough rivalry, marketing strategies’ relevance has developed as they plays vital role towards development of share of organisation in the competitive market as well as holding targeted consumers. The prime objective associated with marketing strategies tends to be raising revenue through development of sales along with augmentation of reputation and goodwill of brand for the organisation’s product (Ferrell & Hartline, 2013). Both the short-term and long-term strategies are implemented for improvement of present condition along with the revenue of an organisation. The tools that the organisations use for influencing consumers’ behaviour to gain marketing objective are most important aspects for marketing strategy. The tools that are too considered as market mix could be defined in 8 aspects. The aspects involve physical evidence, promotion, processes, prices, partnership, people, product and distribution. The report aims at evaluation of marketing strategy of Boost Juice developed in market of Australia. The report begins with brief discussion over background and history of Boost Juice. Then, the marketing strategy of Boot Juice is analysed through evaluation of marketing mix. Eventually, valid recommendations along short conclusion are provided that is expected while taking MBA help and would help in development of the organisation’s market performance.                            

Boost Juice being a retail organisation based in Australia, supplies beverages for example energy drinks, smoothies, juice and others. Janine Allis in the year 2000 that presently provides with beverages products across the entire world founded boost Juice. Boost achieved $2b on sales revenue previous year. It is presently very popular for fresh and healthy diet products sold by it. Janine Allis developed an idea of development of healthy diet organisation in American trip. She examined that market for the fresh juice in not effectively developed in Australia, though it is developed in many other nations. She devised a plan for ethics, business and structure as well as founded “Boost Juice Bars”. The initial branch of Boost was developed in Adeliade where she personally tackled with the activities such as serving customers and making drinks. Through working in firm, Janine was capable of identifying preferences and taste of customers. Due to direct contact of business with customer, she could acquire wide logistics’ and market awareness. Boost Juice developed rapidly and employed more employees as it tend to be very helpful for meeting the enhancing pressure over business operations.               

Eight Ps of Marketing Mix of the organisation

Marketing mix is being implemented by marketing strategy’s core concept for development of present sales of products. Investors are required for organising detailed analysis related to market features for conducting marketing procedure. Subsequent to that, an effective marketing strategy is required to be developed for targeted audience. Marketing mix defines certain variables induced by demand that are applied for amplification of the company’s sales. Usually, There exist solely four variables within marketing mix that are price, product, promotion and place. The parameters are enhanced to eight variables through changing the business environment. A detailed analysis of Boost Juice’s marketing is made as under:

The organisation supplies a broad range of healthy products associated to food such as smoothies and fruit juice. The product quality always was being the main emphasis of the organisation and eventually they coordinated fruit juice with yogurt in the list of their products. For effective attraction of customers that are health conscious in nature, Boost launched latest food commodities such as high protein, super-food spirit and tropical. The policy associated with production of food commodities from low fat and natural materials is completely complied with in Boost Juice. Therefore, the organisation avoids application of artificial sweeteners, added flavours and preservatives. The organisation has so far succeeded in drawing the attention of customers through implementation of the strategy. Super Smoothies as the most famous product, is developed for provision of maximum benefits to buyers in comparison to daily smoothies that are made with the natural nutrients. In addition to provision of exclusive commodities for targeted customers, the organisation has introduced exclusive product for the customers possessing different taste such as tea lovers. Boost Juice created certain products that are tailor-made for the customers for sufficing local market’s demand (Boost, 2017).            

The organisation implemented the marketing strategy of Boost Juice for keeping low price of unanimous product in menu. The organisation implemented the strategy for drawing more customers as compared to giant companies engaged in food and beverage industry such as Pepsi and Coke. However, implementation of the strategy has resulted in reduction of the organisation’s profit margin (Prowd, 2013).  

Boost Juice identified that various people from different geographical areas, within different nations possess various palate, customs, purchasing power and habits. Boost ensured that advertising and promotion strategies in remote nations must be developed in accordance with the local market’s requirements. Management of the organisation evaluated habits of media, customer interest and purchasing power of region as well as implied the strategies of promotion accordingly. The organisation primarily empathises over franchising strategy through selection of well known along with prominent market leaders carrying out business operations at specified region that possessed sound knowledge related to market (Boost, 2017). 

Besides, the organisation implemented an exceptional marketing approach comprising of below-the-line and above-the-line marketing. Through implementation of marketing strategy of Boost Juice, the organisation succeeded in attainment of 94 percent market awareness in five years. The above-the-line method of marketing comprised of promotion of the organisation over radio campaigns, social media and television (Boost Study Kit, 2015).     

As stated earlier, the organisation has developed franchising as the distribution strategy. Out of overall stores possessed by Boost Juice about 70 percent is provided to various franchise distributors. The strategy of brand name leasing as well as business model has assisted the organisation in generation of broad reach amongst targeted audience (Switzer Daily, 2009).     

In the course of improvement, the organisation rapidly established a partnership along with Bain capital as private equity partner (Fitzsimmons, 2014). Jeff Allis, the organisation Chairperson, signed partnership with CEO of the AIA named as Bill Lisle Regional as a part of the programme of product enhancement (IFA, 2016).  

The founders, employees and culture of the organisation are referred usually as marketing mix. As the organisation complied with “love life” philosophy, the prime emphasis was made towards delivery of exceptional experience of purchase to the buyers. For the reason, the organisation developed sound appealing outlets through usage of exciting hues.   

The prime emphasis of the organisation was in service delivery procedure, time of response along with complaints for ensuring exception facilities to the shoppers. Therefore, the organisation made instant solution for the queries of the customers, improved time of response and provision of better quality of service in comparison to the rivals.

Improved experience of customers along with favourable reviews would assist in development of an organisations’ profit margin. Customer experiences’ physical evidences such as recommendations, user stories along with the general buzz are likely to create significant influence over the revenue of the organisation as well as it its goodwill. Observing this Boost Juice maintained its websites effectively and shared experiences along with reviews of buyers over social media. The organisation also followed that strategy for being in news through tapping recent trends within society. 

Encountering several issues along with competition

As the behaviour of customers varied with technology advancements, the organisation are required to make drastic innovation or change in marketing management in business. Due to science advancement, outreach and access of organisations raised drastically. Yet, certain problems take place due to high applicability of data and information. In developed situations, an organisation could not stay away from relevant social obligations and solely emphasise over profit making procedures. They are required to maintain and preserve brand image. Considering it, various organisations initiated participating as well as contributing towards social activities actively. Boost Company too complied with the trend along with adopt initiative in reduction of emission of pollution from business activities for preserving ecosystem for long-term. The company introduced different paper cups for containing their products. The cups were made up of sustainable resources and renewed materials ensuring no damage to ecosystem. Besides, the organisation practices usages of inks that are defined are safe and non-toxic, which tend to be much secured for ecosystem. Being part of marketing strategy of Boost Juice, it initiated participating in certain philanthropic activities along with charity programs (Boost Juice, 2017).          

Besides those aspects, the social media is considered to have provided major contribution towards variation in dynamics and business environment structure. By the online, media, business enterprises could connect easily with the customers targeted in market. The organisations create slight threat of the buyers sharing their reviews ad opinions associated with product in social media that would be read through broad audience. For avoidance of adverse feedback, it is essential for the organisations to emphasise over provision of improved quality facility as well as thereby provide exceptional experience along with satisfaction to customers. Further, it is simple to identify preferences and social trend of customers. Furthermore, social media facilitates instant advertisement of products along with exclusive offer or the any discount provided by Boost Juice. Apart from the social media, certain more technologies exist that assists towards development of operational efficiency and productivity of the organisation. For instance, organisations could introduce automation within procedures such as payroll, purchase procedure, cash payment procedure and others that would reduce ultimately manual error as well as decrease operational cost (Ferrell & Hartline, 2013). The organisation established “Matcha Chat Bot” for celebration of “Perfect Matcha Smoothie” introduction (Boost Juice, 2017).         

Due to a broad advancement of technology field, connectivity along with the approach of the customers has enhanced. Unlike before, the customers evaluate entire descript of products and make a comparison of it with alternative products through reading reviews of user prior to purchase of product. The latest power to the customers tends to have enhanced rivalry amongst competitors. Most organisations maintain ethical principles as well as apply online media for raising goodwill along with company’s brand worth (Fifield, 2012).     

How to devise Marketing Strategy

Certain Recommendations are made as under for improvement of marketing strategy as well as help the organisation to cover broad market share. 

The prime emphasis of the organisation is distribution of nourishing juices along with smoothies to customers. Boost juice is primarily focussing over exercising of significant control of health commodities’ market. However, products’ range that the organisation supplies is limited in nature. Therefore, it is essential for the organisation to expand and develop its products’ range. For introduction of certain diversity and range in product, the organisation could involve healthy sandwiches along with wholegrain bread within the menu (Hill, 2012).

Boost Juice offers its food products at relatively lower price in comparison to other organisations. Companies for attracting more buyers towards it do the strategy of provision of products at relatively lower price. However, through implementation of the policy, company’s profit margin has reduced. Boost Juice must offer broad range of commodities comprising with premium characteristics at high rate for dealing with the situation of low range of profits.      

The company for promotion of its brand is implementing an exclusive market strategy. The organisation is using media alternatives such and social media, radio, along with television for maintenance of its relationship with the customers. Including principle and philosophy of an organisation would help in improvement of promotional strategy. Utilisation of charming hues along with sports in advertisements of the organisation would assist in marketing campaigns of the company. Instead of mere surviving in market, the organisation could cooperate with certain sports enterprises as well as adventure organisations for promoting its products (Hill & Jones, 2009).

Exclusive emphasis must be made over development of quantum and range of retail stores nearby premises of the sites such as sports clubs, beaches, where the outdoor games could be occurred. Certain retail stores must be organised also nearby colleges, offices, youth clubs for influencing a controlling youth targeted audience. 

Boost must cooperate and collaborate with other organisations engaged in same industry and try of creating sustainable partnership. As the organisation is remained as giant in healthy food field, it could acquire comparatively the small-scale organisations that operate in similar business. It must also improve its cooperation with the financial institutions and banks that would create financial backup whenever required.  

In the serious situation of intense rivalry, Human resource management plays crucial role in company existence. Company’s staffs develop and maintain direct relationship with shoppers. Staff possessing high spirit of working along with work ethics must be hired for getting an edge in rivalry with other enterprises engaged in similar business. Effective training must be provided to staff that interact directly with buyers such as people working at retail outlets. Retention of talented staff tends to be a challenging activity for the organisation. The organisation must take excessive endeavour in retention of employees’ quality through provision of attractive incentives along with salary (Partridge & Sinclair-Hunt, 2005).

The organisation is supposed to make substantial investments in installation of latest technical machines along with conducting analytical research for performance enhancement. An improved strategy must be planned for ensuring customers’ satisfaction through development of capability and efficiency of employees that work in department of customer provision through appropriate experience and training. 

For development of favourable reviews along with physical evidence related to product or service of the organisation, it could initiate online campaign over social media as well as create few online blogs. Additionally, promotional videos could be posted over media for getting viewed by large audience. 

Conclusion 

By the ends of the assignment, it is concluded that Boost Juice is giving its best for targeting Australian customers that are very conscious related to their health and fitness. Janine Allis laid foundation of organisation in the year 2000 subsequent to the examination of the fact of very less availability companies based in Australia that are dealing with healthy food. While that time, Janine achieved sound experience related to customers behaviour through conducting certain research activities and personally working in that organisation. Through implementation of franchising scheme, the organisation increased its branches across the nation unanimously. In the form of endeavour of sustaining in market, the company applied the strategy to keep lower price of products as compared to other organisations. Boost emphasised over product having best quality along with provision of exceptional experience to customer. For it, Boost’s retail stores were designed with radiant colours and staffs placed at front desks were specially trained. It is recommended in the report that the organisation must emphasise over development of outlets’ number and employment of youth for bringing innovation. The experts of marketing assignment help from the top universities have prepared the assignment of marketing strategy of Boost ensuring that you get the best assistance while availing our assignment help online services.                  



References

Belohlavek, P. (2008). Unicist Marketing Mix. Blue Eagle Group.

Boost Juice. (2017). The Boost Story. Retrieved 27 January 2017 from https://www.boostjuice.com.au/about

Boost Juice. (2017). The Boost Story. Retrieved 27 January 2017 from https://www.boostjuice.com.au/about

Boost Study Kit. (2015). Retrieved 27 January 2017 from https://www.boostjuice.com.au/wp-content/uploads/2015/02/Boost_Study_Kit_2015.pdf

Ferrell, O.C., & Hartline, M. (2013). Marketing Strategy, Text and Cases. Boston: Cengage Learning.

Ferrell, O.C., & Hartline, M. (2013). Marketing Strategy, Text and Cases. Cengage Learning.

Fifield, P. (2012). Marketing Strategy. Routledge.

Fitzsimmons, C. (2014). Boost Juice founder Janine Allis in partnership talks with Bain Capital. Retrieved 27 January 2017 from https://www.afr.com/leadership/entrepreneur/boost-juice-founder-janine-allis-in-partnership-talks-with-bain-capital-20140506-jya8p

Hill, C., & Jones, G. (2009). Strategic Management Theory: An Integrated Approach. Boston: Cengage Learning.

Hill, M. (2012). Marketing Strategy: The Thinking Involved. SAGE.

Partridge, L., & Sinclair-Hunt, M. (2005). Strategic Management. Hertfordshire: Select Knowledge Limited.

Prowd, J. (2013). Boost's pricing problem. Retrieved 27 January 2017 from https://www.intelligentinvestor.com.au/2013/07/boosts-pricing-problem

Shankar, V. et al. (2012). Handbook of Marketing Strategy. Edward Elgar Publishing.

Switzer Daily. (2009). Franchising as a Distribution Model. Retrieved 27 January 2017 from https://www.switzer.com.au/small-business/business-management/systems/franchising-as-a-distribution-method/

Switzer Daily. (2009). Franchising as a Distribution Model. Retrieved 27 January 2017 from https://www.switzer.com.au/small-business/business-management/systems/franchising-as-a-distribution-method/

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