marketing strategies evaluation
Marketing can be defined as identifying needs, producing products and services to meet those needs and then pricing, distributing and promoting those product and services to produce a profit.
Firstly, the brand Vitasoy is an international, well-known brand which bean over 65 years ago, which shows that the marketing of the Soy Milky range is successful as the brand is well-known and trusted by consumer.
Manufacturer's develop marketing plans for their food products which consider four main factors; the 'marketing mix of the four Ps':
Firstly, the brand Vitasoy is an international, well-known brand which bean over 65 years ago, which shows that the marketing of the Soy Milky range is successful as the brand is well-known and trusted by consumer.
Manufacturer's develop marketing plans for their food products which consider four main factors; the 'marketing mix of the four Ps':
Product
The Soy Milky product was needed by the population, due to an increase in the intolerances of dairy, lactose and gluten. With Soy Milky soy milk, people with allergies to cow milk are able to get required nutrients. Furthermore, the increased calcium content was an effective decision, as according to the most recent Australian Nutrition Survey data published in 1995, about 90% of women and 70% of children do not achieve the recommended dietary intake (RDI) for calcium.
The aseptic packaging of the product was a successful decision; with the introduction of Tetra-Brik packaging Vitasoy experienced another boom. Together with the long life (UHT) processing, it allowed the products to be kept for months, without losing nutritional or sensory content. From the late 70s to 80s, Vitasoy soymilk found a foothold in over 30 markets. Clearly, the product and its packaging were and are successful for the demographics of the population.
The Soy Milky product was needed by the population, due to an increase in the intolerances of dairy, lactose and gluten. With Soy Milky soy milk, people with allergies to cow milk are able to get required nutrients. Furthermore, the increased calcium content was an effective decision, as according to the most recent Australian Nutrition Survey data published in 1995, about 90% of women and 70% of children do not achieve the recommended dietary intake (RDI) for calcium.
The aseptic packaging of the product was a successful decision; with the introduction of Tetra-Brik packaging Vitasoy experienced another boom. Together with the long life (UHT) processing, it allowed the products to be kept for months, without losing nutritional or sensory content. From the late 70s to 80s, Vitasoy soymilk found a foothold in over 30 markets. Clearly, the product and its packaging were and are successful for the demographics of the population.
Price
Looking at the different soy milks (on the right) we can see that 1L of soy milk prices range from $2.00-$5.00 (according to Woolworths). However, we can see that Vitasoy's soy milk is one of the cheaper options, and therefore will be more popular for consumers. In comparison to Bonsoy Organic Soy Long Life Milk, it is clear that the marketing strategies in pric for the VItasoy Soy Milky soy milk is reasonable and successful.
Place
The Vitasoy Soy Milky range is sold in almost of grocery and major food retail stores, as well as milk bars, petrol stations and even online distribution. With a large range of options to buy the soy milk from, Vitasoy is certainly successful as it can sell a number of products to all kinds of consumers. In addition, Vitasoy International Holdings has production facilities in Hong Kong, mainland China, Australia and the US, and is listed in the Hong Kong Stock Exchange.
Promotional Strategies
The target market of the Vitasoy Soy Milky soy milk range can be for a wider range of consumers, but is mainly aimed at people who have lactose, dairy and/or gluten intolerances, and require increased calcium.
Some successful and effective promotional strategies Vitasoy have used are:
The target market of the Vitasoy Soy Milky soy milk range can be for a wider range of consumers, but is mainly aimed at people who have lactose, dairy and/or gluten intolerances, and require increased calcium.
Some successful and effective promotional strategies Vitasoy have used are:
- TV advertising: Vitasoy has released short, but effective advertisements in China and Australia, showing the benefits and healthiness of their soy milk ranges.
- Social media: Vitasoy has its own Facebook pages, where consumers can research and interact with Vitasoy online.
- Posters: Vitasoy has had posters and pictures put around cities and towns for to advertise to a wider range of consumers.
- Point-of-sale displays: Vitasoy has constantly been sold with sales and deals, encouraging impulse purchases
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