This report discusses Boost Juice's marketing strategies in Australia and the United States, including market segmentation theory, marketing mix strategies, and cultural differences. Recommendations are provided for Boost Juice to expand its business in the US market.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running head: INTERNATIONAL MARKETING INTERNATIONAL MARKETING Name of the student Name of the university Author’s note
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
1INTERNATIONAL MARKETING Executive summary Boost Juice is one of the popular juice manufacturer brand in Australia. In fact, the company has a great market capitalisation in the country. Recently, the company intends to expand its business in overseas market and United States is identified as the best option for them. As far as the Australian non-alcoholic beverages market is concerned it can be argued that there large number of giant beverages companies in the market that can give enormous competition to Boost Juice. Therefore, the report rightly mentions the existing market segmentation of Boost Juice. Besides this, business tools like marketing mix and the Hofstede model are also implementinordertogetin-depthperception.Inaconclusion,therearesome recommendations that can help Boost Juice to establish a better market orientation in US.
2INTERNATIONAL MARKETING Table of Contents Introduction....................................................................................................................3 Discussion......................................................................................................................3 Marketing techniques in Australia.............................................................................3 Market segmentation theory...................................................................................4 Segmenting.............................................................................................................4 Targeting................................................................................................................4 Positioning..............................................................................................................4 Relevance in United States.........................................................................................5 Product...................................................................................................................5 Price........................................................................................................................5 Place.......................................................................................................................5 Promotion...............................................................................................................6 Cultural difference.....................................................................................................6 Hofstede’s communication theory.........................................................................6 Recommendation............................................................................................................8 Conclusion......................................................................................................................8 Reference........................................................................................................................9
3INTERNATIONAL MARKETING Introduction Boost Juice is considered to be one of the major beverages company in Australia. The company was founded in 2000 by an enthusiastic entrepreneur Janine Allis in Adelaide, South Australia. Recently, Boost Juice has more than 500 stores surrounded in 13 countries (Boostjuice.com.au 2018). The best part of the Boost Juice is its healthy living beverages and taste. Based on this understanding, this report is going to discuss the marketing possibilities for the Boost Juice in both Australia and Untied States. There are cultural differences and differentmarketingstrategiesthatareresponsibletofacilitateabetterframeworkof understanding. In fact, the report also encapsulates various theories and models in order to create a better understanding. Discussion Marketing techniques in Australia A different type of marketing techniques can be identified regarding the marketing techniques and segmentation of Boost Juice in Australia. As far as the product specification is concerned, Boost Juice provides health drinks and juices made of fruits and vegetables. As a matter of fact, the purpose of the Boost Juice is to provide healthy food products to the Australian people and encourage them to maintain a better and healthier lifestyle (Adner, Ruiz-Aliseda and Zemsky 2016). This can be identified as a strategic measure for the organisation to maximise its customers as far as possible. In this context, the sustainable missions and vision of providing healthy foods and encouraging healthier lifestyle facilitates the strategic advantages of the organisation and provokes it to expand its market.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4INTERNATIONAL MARKETING Market segmentation theory Segmenting The Boost Juice is generally focused on the figure conscious people. Moreover, the issues of obesity are also contributed to take effective market segmentation strategy for Boost Juice. In this context, it can be argued that the Australia ranked second in number of obesity patients and this issue becomes an open threat for the Australian society (Adner Ruiz-Aliseda and Zemsky 2016). In response to this, the Boost Juice products are committed to deal with this ever-escalating issue and foster a healthier lifestyle for the Australian youths as well as the older generation. Targeting Naturally, the target customers of Boost Juice are the health conscious people of the age from 21 to 35. This target strategy is considered to be quite effective in case of the Boost Juice because both the young and adult generations are identified as the target customers of the product. Besides this, the company also keeps focus on the older people and prepared juices that are purely quality product and health conscious (Gengler and Mulvey 2017). Moreover, it can be stated that the around 50% of the customers of Boost Juice are students. Positioning However, it can be opined that the Australian juice makers are faced severe market competitions due to huge market demands and lucrative market to do business. Therefore, there areGoulburn Valley,Homebrand,Mojo Kombucha,EssentialsandGolden Circle who dominate the Australian market robustly. In this context, it is too tough for Boost Juice to maintain its market sustainability so intense (Lei and Moon 2015). Despite of having a number of threat in the Australian market the Boost Juice successfully establish its market here due to quality of products and understanding the consumer behaviour extremely. In fact, manufacturing unique products is also contributed to the organisational strategy.
5INTERNATIONAL MARKETING Relevance in United States In case of United States, the segmentationtechniqueswill be remained same. However, for a better understanding, Boost Juice must focus on the marketing mix strategies. Marketing Mix Product The healthy Boost Juice products are expected to have a large customer market in United States. In this regard, it can be argued that there are a number of healthy juice products existed in America (Datta, Ailawadi and van Heerde 2017). Therefore, it is important for Boost Juice to ensure product diversification in US. There are wide range of products that Boost Juice can provide in the American market in the form offruit juice bars, protein and energy juices,energy boosters,caloriecountersandboost snacksso that it will generate customer maximisation for the organisation in Untied States. Moreover, it can be argued that the product will be 98% fat free. Price There are a number of big beverages organisations already exist in the US market such as Coca cola and Pepsi. Therefore, it will be evident that the Boost Juice will face a huge market competition in the market. In this context, effective pricing strategy is very important for the organisation to sustain a better market expansion. Low cost strategy will be considered to be an important aspect in this regard. According toBahadir, Bharadwaj and Srivastava(2015) it can be argued that the low pricing provides strategic advantages to the companies because the consumers are very much fond of fond of the low price and high quality of the products. Place As per the research carried out byRallapalli and Montgomery(2015), it is seen that place or location is one of the major factors that can contribute strategic advantages for the
6INTERNATIONAL MARKETING customer maximisation of the organisation. In this regard, the Boost Juice Company has to put more emphasis on choosing the perfect location for doing business effectively. The densely populated localities and tourist places can be identified as important business location for Boost Juice in United States. However, there are already a number of non-alcoholic beveragescompaniesinUnitedStatesthataresucceededtoexpandtheirbusiness extensively. Therefore, choosing locations carefully is an essential requirement for Boost Juice in US. Promotion Simultaneously, the promotional strategies are also identified as essential factors regarding the new market entry for Boost Juice in United States. In his studyBahadir, Bharadwaj and Srivastava(2015) stated that the promotional strategies are the ultimate one thatdifferentiatebetweentwoorganisations.Therefore,traditionaladvertisementslike television, billboards and the social media advertisements can also serve the purpose of Boost Juice. Cultural difference Hofstede’s communication theory The Hofstede model of cultural dimension theory is also known as the cross-cultural communication framework that puts emphasis on the cultural values and diversification in a society. ElementsDescription Individualistic/ CollectivisticThe Australian customers are relied on their domestic products and companies where as the US consumers are more receptive to the multinational companies. Masculine/ FeminineIn case of the gender differences both the countries put less importance to the gender differences. It means both
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
7INTERNATIONAL MARKETING themenandwomenareeligibletobuyproducts according to their needs and they show respect to opposite gender. Uncertainty AvoidanceIncaseoftheAustralianpeople,theyaremore orthodox and try to resemble with the traditional norms. It means the customers are not prone to buy a product thatnewlyenteredintothemarket(Rallapalliand Montgomery2015). On the contrary, the American people maintains a more relax behaviour and attitude in order to adapt new things. It can be seen in case of the US customers this practice is seen and as a low UA. Power DistanceIncaseoftheAustraliancustomers,inequalityin society influence them to identify the product and buy in accordance with the customs and social hierarchy whereas in United States there was no such inequality exists and as a result of that customer maximisation process becomes easier. Time PerspectiveIn both the countries the consumers have both the long term and short terms interests in products. Therefore, it isnot possiblefor theorganisationto differentiate between the long term and short term goals of the consumers. However, the private companies tries to segregate the customers on the basis of their behaviour and attitude (Manssonet al.2016). Indulgence/ RestraintAs far as indulgence or restraint is concerned, the
8INTERNATIONAL MARKETING Australianconsumersaremoreleanedtowardsthe traditional approaches and these can be seen in their choice and product specifications as well. On the other hand, the US customers are more fun loving and enjoy their life. Therefore, more relaxation and indulging towards new products is an essential feature of the US consumers. Recommendation The recommendations are as follows, The Boost Juice Company should focus on the product diversification in order to introduce more unique products in the US market. Moreover, it is important for the Boost Juice to open outlets in strategic location where renowned companies are not located. In fact, the Boost Juice should fix its pricing strategy to a moderate one because of the intense competition. Conclusion In a conclusion, it can be argued that there are high opportunities for the Boost Juice to expand its business in America. However, for this expansion the organisation must imply some measures like the product diversification, effective pricing strategy and the location are the important factors that can bring strategic advantage for Boost Juice. Moreover, the market segmentation in Australian market helps to understand the different customer behaviour in both the countries. Henceforth, the above mentioned recommendations are very helpful for Boost Juice to make a sustainable business environment in US.
9INTERNATIONAL MARKETING
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
10INTERNATIONAL MARKETING Reference Adner, R., Ruiz-Aliseda, F. and Zemsky, P., 2016. Specialist versus generalist positioning: Demandheterogeneity,technologyscalabilityandendogenousmarket segmentation.Strategy Science,1(3), pp.184-206. Bahadir, S.C., Bharadwaj, S.G. and Srivastava, R.K., 2015. Marketing mix and brand sales in global markets: Examining the contingent role of country-market characteristics.Journal of International Business Studies,46(5), pp.596-619. Boostjuice.com.au2018.AboutBoostJuice-BoostJuice.[online]Boostjuice.com.au. Available at: https://www.boostjuice.com.au/about-boost-juice/ [Accessed 6 Oct. 2018]. Datta, H., Ailawadi, K.L. and van Heerde, H.J., 2017. How well does consumer-based brand equityalignwithsales-basedbrandequityandmarketing-mixresponse?.Journalof Marketing,81(3), pp.1-20. Gengler, C.E. and Mulvey, M.S., 2017. Planning pre-launch positioning: Segmentation via willingness-to-payandmeans-endbranddifferentiators.JournalofBrand Management,24(3), pp.230-249. Lei, N. and Moon, S.K., 2015. A Decision Support System for market-driven product positioning and design.Decision Support Systems,69, pp.82-91. Mansson, D.H., Marko, F., Bachratá, K., Danišková, Z., Gajdošíková Zeleiová, J., Janiš, V. and Sharov, A.S., 2016. Young adults’ trait affection given and received as functions of Hofstede’sdimensionsofculturesandnationalorigin.JournalofIntercultural Communication Research,45(5), pp.404-418. Rallapalli, K.C. and Montgomery, C.D., 2015. Marketing strategies for Asian-Americans: guidelinesbasedonHofstede'sCulturalDimensions.InMinoritymarketing:Research perspectives for the 1990s(pp. 73-77). Springer, Cham.