Question
Discuss about the Analysis and evaluation of the key concepts and characteristics that are pertinent to the Boost Juice Marketing Strategy.
Introduction
The report would analyse the ways by which the organisation applies marketing tactics through analysis of 4Ps that are core to the marketing mix. Such analysis would breakdown further for scrutiny of marketing tactics of the Boost Juice through marketing mix including 4Ps and SWOT could assist for decoding strengths, opportunities, weaknesses and threats persisting in the organisation. The marketing condition could be interpreted through in-depth assessment of rivals and market; therefore, Boost Juice Marketing Strategy could be interpreted as well.
Background of company
In 2000, Janine Allis had established the organisation named Boost Juice that is an effective chain of retail outlets consisting of fresh juice made from fruits and vegetables. The brand’s goal was encouragement of people for leading healthier life through provision of beneficial and healthy food to them. The organisation covered a considerable portion of market in short period from its innovative services and products. In accordance with Boost Juice Marketing Strategy, the organisation developed wings over the globe with 350 outlets and is carrying out business within 17 nations. The teenagers have attained large piece of market and are very conscious related to their health. The organisation is putting effort for enhancing business operations to ensure consistent development of business.
Market Segment
Australia is facing a major issue named obesity and children are large influenced by it. Twenty five percent of children are suffering from obesity issues. Under Boost Juice Marketing Strategy, the organisation introduced the fresh juice for motivating towards living healthier lifestyle. About 50 percent of overall customers associated with the company tend be students. Retailers and parents occupy 40 percent and the office executives associated with market piece of the company occupy the rest. Because of development in obesity, people have started preferring and rising considerable demands for consumption of healthier food. A substantial amount of the individual selects fresh juice along with 60 percent of it consists of females, although the organisation is making maximum attempt for capturing men market through usage of 4Ps as well as through introduction of male products.
Product Brief
Boost Juice possesses various products for fulfilling the customers’ needs. The range of products of the organisation extent bars from smoothies. It possesses various fruit juices, newly made up of vegetables and fruits. Additionally, they possess boosters, snacks, protein drinks, energy drinks and others. The most selling and loved commodity of Boost Juice Company is the Boost Juice bar, which has lead to generation of large revenue for business made up freshly of vegetables and fruits. Furthermore, it provides an exclusive experience to customers. The flavours involve mint condition, immunity juice, wild berry juice, and others. Due to the nutritional value, the products magnetise people preferring healthy food.
Rivals
The organisation established personal brand by provision of exquisite services to the customers and offer innovative commodities in market. Although, the organisation faces tough competition, prime competitors are Pulp Juice and Starbucks that are associated with Boost Juice. Boost Juice acquired Viva Juice in 2004 for curbing rivalry from firm. Starbucks Co. of coffee maintain series and carries out business globally. It is considered as a US based organisation. Starbucks represents or offers shakes, snacks, and coffee blends and further merchandise. It has established a brand through provision of tactics of premium pricing along with outstanding experience to customers. It attempted of conquering Australian marketing through gaining great success; however, it failed in its approach due to brand perception as well as partly because of Boost Juice Marketing Strategy. It was regarded as haughty due to its high prices.
The other brand named as Pulp Juice tends to be known for offer of fresh juice that comprises of excessively low calories and fats. This product is unable to make its position in competition because of shortage of appropriate marketing tactics. The other competitor of the organisation is Easy Way possessing distinct tea beverages.
Distribution
In mere 7 years, Boost Juice established greater that two hundred retail outlets across Australia. It provides different kinds of natural commodities in the nation. They have designed a distinct method of offering natural and fresh vegetable and fruit juice in its stores. The brand, in accordance with Boost Juice Marketing Strategy, ensures that shoppers are receiving sound experience at every visit, through provision of fresh juice’s blends and with excellent services.
The retail stores of the company are spread across multiple nations such as South Africa, United Kingdom, Portugal, Hong Kong, Germany and other nations for stretching its operations.
Boost juice introduced “Boost Mobile Van” for ensuring convenience and therefore enhancing customers’ reach
SWOT analysis
The analysis of Boost Juice by SWOT would assist in understanding faults, robustness and would assist us in evaluation o market condition for fostering developments under Boost Juice Marketing Strategy
Strengths
The organisation has established a method for offering healthy and natural juices along with distinct customer service by the retail outlets. It captured market by its sound services and products. Additionally, the entire nation is identifying the brand. The commodities are 98 percent fat free and make promotion of healthy life. It applies marketing tactics for capturing market attention. Additionally, it developed sound base of customers by its good repute.
Boost Juice has captured the global market including Germany, Dubai, Hong Kong and other internal nations through compliance of Boost Juice Marketing Strategy. It has established an effective technique for engaging people through enquiry of their feedback over emails for knowing more regarding any convenience. Furthermore, the organisation has established financial stability with the credible authorities. Additionally, the organisation created licensing system for stretching market globally and it is done by good judgement
Weaknesses
Considering Boost Juice Marketing Strategy, the organisation inverts substantial money for marketing itself. The organisation is required of maintaining regulations and rules for functioning in internal market smoothly for provision of sound quality commodities to customers. The commodities like smoothies and juices are required to be managed safely because they are prone to be damaged quickly. By widening the range of its products to smoothies from juices, it could increase the base of audience targeted. Most of market of boost Juice consists of the teenagers along with other consumers of the organisations are adults. Professionals and office executives are yet to explore market. Customers tend to consume juices during summer that influences company’s sales during winter. Shortage of sound management of people associated with company is another weakness of the organisation that ultimately influences production. The product preparation requires time; however, customers dislike waiting. There require quite tweaking in Boost Juice Marketing Strategy for facilitating latest challenges.
Opportunities
The organisation Boost Juice possesses the ability of attracting Asian market. The markets are contributing towards significant growth in economies. Applying the merits, which Boost Juice Marketing Strategy has presented, it could improve its functions through growth of marketing tactics and usage of advertisements entirely. However, there has been an introduction of broad variety of merchandise for enlarging sales during winter. Food such as pastries and sandwiches along with beverage such as hot drinks for getting more customers during winter and thereby enhance the sales.
Boost Juice could apply various sources for reducing manufacturing and marketing costs. It could implement various techniques for enhancing sales through usage of mobile apps to enable people order products via online platform. The organisation possesses great opportunities of enhancing market in geographic manner as well as enhances sales volume through controlling distribution system effectively.
Threats
Boost Juice Marketing Strategy possess certain shortcoming ad drawbacks. Organisations such as Starbucks, Easy way and Pulp juice are prime rivals, which enhances intensity of competition for Boost Juice. Sale of products of the organisation is negatively affected due to existence of the packaged fruit juice as well as by the situation of market such as increase in rate of fuel and interests. With the increase in costs and price, customers’ earning is reducing which is negatively affecting sales. Due to reduction in use of products, Boost Juice is facing challenges in global production and sale of the products.
Objectives and goals
Boost Juice Co.’s goal is becoming one of most loved and famous brands across the globe”. For capturing customers’ interest, the organisation follows the love life philosophy through combination of drinks and juices. Marketing instructions are aimed at objectives that are mentioned below:
The organisation primarily aims at serving large market piece through stretching reach as well as enhancing customers’ age groups. The organisation is preparing for expansion of market shares by five percent to ten percent through introduction of latest services and merchandise along with plans for searching fresh channels for the customers for buying their product.
4Ps of the marketing mix
4Ps of Boost Juice Marketing Strategy is considered as very crucial that are price, product promotion and place. The product’s strategy is aimed at satisfactory merchandise development for customers by market division and disparity. Price strategy is developed for targeting a specified share of market. Promotion is undertaken for creation of long-term relationship with customers. Furthermore, place is concerned with site having immense significance for a retail business.
Product
The health status has gained significant control over Australian people. Most of Australia’s overall population are suffering from acute obesity. The health situations are weakening people, develop diabetes, heart diseases, cancer and others. A study represented that prime cause behind weight gain is laid in diet plan followed people. Major portion of diet followed by Australian population comprises of sugar and fat. Australian government took relevant steps for creation of health awareness amongst the citizens. As an outcome, people initiated of being aware related to their health, which enhanced requirement of healthy products. Boost juice interpreted and identified varying trend and incorporated the factors in Boost Juice Marketing Strategy. It comprehended market needs and has taken advantage of persisting condition through introduction of juice made up of fresh veggies and fruits. The organisation has brought various products into market such as energy drinks, bars, fresh juice and others. They comprehended the market along with customers’ needs effectively. The fresh vegetables and fruits magnetise many people for the nutritional value as well as juices, which are 98 percent fats free. The organisation also provides customers with freedom of customising their own products.
Place
According to Boost Juice Marketing Strategy, the organisation focuses over offering fresh juice made up of fresh vegetable and fruits; therefore it established multiple retain stores across the country. The organisation functions over franchising model. Boost Juice established over hundred outlets across Australia in short period.
Price
For taking stand against organisations Pepsi, Coca cola and others, the organisation was established. Competition amongst the market of soft drinks was intense. As an outcome, health drinks possessed small size of market. People have already started consuming beverages along with sugary juices that were excessively injurious for consumption prior to establishment of Boost Juice. Nevertheless, Janine Allis introduced Boost Juice and aimed at people’s market that consumes soft milk. For grabbing market’s attention, the organisation designed Boost Juice Marketing Strategy. The strategy is considered also as cost leadership strategy that represented results in magnetising large base of customers towards the fresh juice. This strategy is considered with provision of information to customers that the company provides its products at least possible cost. Furthermore, it represented outcomes for grabbing people eyes within a short period. It is complex for any organisation to maintain low price of its products and is required to perform hard for running business as well without enhancing cost. Boost Juice maintains both product quality and price effectively. The company made fresh juice applicable at cheaper rate to encourage people to purchase it without looking at its price. It helped in quick attraction of market.
Promotion
Boost Juice makes all possible effort for its promotion. It invested large amount of money over advertising. Advertisements of Boost Juice’s products could be watched over posters, internet or television and could be heard over radio. It is the core idea of Boost Juice Marketing Strategy.
Company made certain promotional offers for boosting its sales. For instance, in case a consumer purchases a product then he/ she would get another product free of cost along with distinctive offers for kids for a specified event as well as other charming offers. Boost Juice possess its personal website with in-depth explanation of the organisation, the offers made by it, its products and others.
Boost Juice has taken advantage of digital age for connecting with the potential consumers. The organisation introduced face book for representing existing products and promote latest products. Australian residents like face book and spend around twelve hours each weekend over it. Social media contributes effectively towards development of base of customers for an organisation. The organisation managed one place with sound repute in market.
Conclusion
The report concludes with victorious application of marketing tactics through Boost Juice. The prime base of customers of the company is teenagers as well as adults. Although having intense competition with organisations such as Starbucks, Pulp Juice and others, Boost Juice has managed successfully for becoming largest retails series across southern portion of the world. It could improve its business operations in Asian market. In addition, SWOT evaluation has highlighted the company’s strengths that are its innovation products and strong brand reputation. The company uses 4Ps of marketing mix. It has successful adapted with market condition and manufactures fresh juice as per market’s needs. Boost Juice entered in the market as there existed high requirement of healthy juice. For competing with the soft drinks, the organisation applies strategy of cost leadership. The organisation makes use of different techniques for enhancing sales. Assignments of Boost Juice Marketing Strategy are made by our ABC assignment help belonging to topmost universities that helps us in provision of liable service assignment help through online sources.
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Pages: 4
Words: 890