Halo Foods' Successful Marketing Strategies

Halo Foods, a successful brand, requires the development of efficient processes to maintain its market position. Physical evidence, or how Halo Foods presents itself to customers, is crucial in distinguishing it from competitors. To become successful, businesses must focus on the 7Ps of marketing, including product, price, promotion, place, physical evidence, people, and process. Adopting low prices and high promotion strategies can help increase sales of new products.

Marketing principles
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TABLE OF CONTENTS
Introduction .....................................................................................................................................3
Task 1...............................................................................................................................................4
1.1 Various elements of marketing process of Halo Foods.........................................................4
1.2 Benefits and cost of marketing orientation for Halo Foods ..................................................4
Task 2 ..............................................................................................................................................5
2.1 Macro and micro environmental factors influencing marketing decision of Halo Foods ....5
2.2 Segmentation criteria of Halo Foods for its new products ...................................................6
2.3 Targeting strategy for energy drink of Halo Foods ..............................................................6
2.4 Buyer behaviour affecting marketing activities in different buying situations ....................7
2.5 Positioning strategy for Halo Foods......................................................................................7
Task 3...............................................................................................................................................8
3.1 New product development to gain sustainable competitive advantage.................................8
3.2 Distribution process for new product ....................................................................................8
3.3 Price of new product according organization objectives and market conditions .................9
3.4 Promotional activity integrated to achieve marketing objectives of new product.................9
3.5 Extended elements of marketing mix .................................................................................10
Conclusion ....................................................................................................................................10
References......................................................................................................................................11
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INTRODUCTION
In the present scenario, marketing has started to play very important role inn the success
of businesses. Furthermore, various tools and techniques of marketing supports organization to
increase sales and profits by creating more and more awareness about their products and services
in the market (Jobber and Ellis-Chadwick, 2012). The present report is based on Halo Foods
which is UK organization established 25 years ago. This study depicts elements of marketing
process of Halo Foods along with benefits and cost of its marketing orientation. Other than this,
it also highlights the impact of micro and macro environmental factors on marketing decision of
the organization. Furthermore, the present study also explain the process of new product
development in Halo Foods in order to gain sustainable competitive advantage.
TASK 1
1.1 Various elements of marketing process of Halo Foods
Marketing can be defined as the process in which a business enterprise make use of
various tools and techniques with an objective of increasing sales and profitability (Key elements
of a successful marketing strategy, 2015). The major element of marketing process of Halo
Foods are mentioned below as:
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 Defining aim and objective- The organization determines its aim and objectives of
marketing before developing its plan (Lees-Marshment, 2009). Further, it can be stated
that this is one of the most important elements because it provides direction to the
organization in implementing its plan in the best possible manner. Research- Halo Foods deals with cereal bars which contains low carbohydrates and low
glycaemic index. Before making use of any kind of marketing activities, the brand carry
out intense amount of market research. The benefit of this is that it supports the
organization in getting aware about the changing need and requirement of people in
market (Sheth and Sisodia, 2015). Strategy- Strategy can be defined as an action plan to achieve certain aim and objective
of business. Halo Foods starts developing its strategy on the basis of those identified
needs and demand of people in market. The main objective of behind developing strategy
is to determine what tools and techniques of marketing will be used to attract customers.
 Defining target market- It is another important element of marketing process where Halo
Foods defines its target market (Wang, 2007). This means that from overall population of
market, the organization determines a particular segment market which it is going to
target. For example the target customers for its products can be people from middle
income group which fall under age between the 25-50. On the basis of identified target
market, organization can develop effective strategies related to marketing and promotion.
1.2 Benefits and cost of marketing orientation for Halo Foods
Marketing orientation has emerged as a new and one of the most potential concept in the
21st century. It can be defined as the process in which the need and demand of people in market
become the primary driver for all decision of businesses (Dann, 2008). Halo Foods has adopted
the strategy of marketing orientation where all products and plans are developed on the basis of
customers need and demand. Furthermore, the organization makes frequent changes in its
products and marketing on the basis of changes in customer needs and preference. This results in
increasing overall cost of operations for Halo Foods. However, it can be argued that this cost can
be easily covered with the benefits associated with the process of marketing orientations. One of
the major advantage is that the organization is able to carry out more focused production as
consumer needs has become its prime preference. Along with this, another benefit of this is that
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Halo Foods is able to carry out effective marketing strategies with the help of such orientation.
Its other advantage includes high market share, profitability, customer base, competitive
advantage etc.
TASK 2
2.1 Macro and micro environmental factors influencing marketing decision of Halo Foods
The decision making of a business enterprise is directly affected by various kind of macro
and micro environmental factors. Macro environment includes factors such as political,
economic, legal, social, technological and environment factors (Ivy, 2008). On the other hand,
micro environment includes factors such as competitors, customers and suppliers. At the time of
making any decision, Halo Foods is required to take all the above stated factors into
consideration. For instance any kind of changes in political environment such as tax rates and
subsidies will have impact on decisions of the organization. Along with this, if the economic
environment is not stable then Halo Foods will require to change its prices to meet the customer
demand. Decision making of the brand also get affected by modifications in social factors such
as income level and customer demand. On the other hand, the organization is required to take
effective decision regarding the use of advanced technology at regular intervals in order to stay
competitive in market place (Goi, 2009). In addition to this, while making its decisions the brand
needs to consider all changes in legal environment such as changes in law and legislation. At the
time of making any kind of decision, Halo Foods need to take care of the fact that its operations
do not have any kind of negative impact on environment.
The decisions of Halo Foods is affected by the kind of policies and strategies adopted by
its competitors. For instance if its major rival has adopted for low price strategy, then the
organization is required to make changes in its prices. The decisions are required to be made by
keeping need and demand of customers in mind (Birnik and Bowman, 2007). Other than this, the
brand needs to ensure the fact that objectives of suppliers gets accomplished and they are not
negatively affected by all its decisions.
2.2 Segmentation criteria of Halo Foods for its new products
Segmentation can be defined as the process of dividing the entire market into different
subsets. Halo Foods new product is going to energy bars which will be highly nutritions and
provide people which are consuming it with instant energy. For the new product, target market
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segment will be people which have birth year from early 1980's to early 2000's. Furthermore,
gym members and working women will be targeted by the brand. One of the main reason behind
choosing this market segment is that it is the best and most suitable market for energy bars. Gym
member will require the product to gain energy before and after workout. On the other hand, new
energy bars will help women to overcome fatigue and stay healthy. It can be also stated that
working women do not have adequate time for health and fitness. Therefore, consumption of two
bars per day will help them to gain required calories and nutrients. The segmentation is done of
the basis of two factors which are age and occupation. All the marketing activities of Halo Foods
will be carried out to attract people from this particular target market segment. It can be also
stated that it will provide the brand with new and more potential opportunities for growth and
development (Luan and Sudhir, 2010). As per the provide case scenario, the objective of Halo
Foods is to attract individuals from millennial generations.
2.3 Targeting strategy for energy drink of Halo Foods
The targeting strategy which Halo Foods is going is of differentiated or multi segment
targeting. It can be stated that there are several segments in market and the brand is going to
serve different segments in market as per this strategy (Srinivasan and Hanssens, 2009). For its
new products, there will be different marketing mix. It can be asserted that rather than offering
its energy drink to single segment, the brand is going to satisfy the needs of two market segments
which are working women and gym member's. The product, price, place and promotion will also
differ from one segment to another. Along with this, messages and marketing campaign are
going to be different. This will help Halo Foods to earn higher sales, market share and profits
over other market players. It is also suggested that before adapting this strategy, the brand should
compare differentiation strategy with other strategies which are focus, undifferentiated and
customize strategy of targeting.
2.4 Buyer behaviour affecting marketing activities in different buying situations
In simpler terms buyer behaviour can be termed as the process of decision making and
actions which people make buy and use a particular product or service (Martin, 2009). Halo
Foods is required to take care of buyer behaviour before developing any product or strategy.
Furthermore, it can be also argued that behaviour people in market keeps on changing and the
organization is required to act accordingly. For example if individuals are seeking for bars which
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can provide energy and adequate amount of nutrients, then Halo Foods is required to market its
products according to the same. It can be also stated that the brand cannot advertise and promote
its products as quality one or at low prices. In order to survive in market, its marketing activities
needs to make people aware about the health benefits associated with Halo Foods.
On the other hand, if people in market are getting more attracted by internet marketing
then the organization is required to make use of the same. It can be stated that it cannot rely
heavily upon newspaper and television advertisement to promote its products. Furthermore, its
marketing activities should include the use of social media platforms such as Facebook and
Twitter to promote its products. Along with this, the brand can also make the use of internet and
mobile marketing. The brand can developed effective subject matter which can be forwarded via
emails or by text messages. This will make people in market aware about the new range of
energy bars which are introduced by Halo Foods.
2.5 Positioning strategy for Halo Foods
In the modern era, positioning has become very important task for businesses. Further, it
can be defined as the way in which a brand places its products and services in the market (Oly
Ndubisi, 2007). Halo Foods can position its bars as healthier and more nutritional for the people
which are consuming it. In the present era, diseases such as diabetes and obesity are increasing
with a very good pace. Nowadays, individuals has become more conscious towards their health
and well being. Therefore, Halo Foods can position itself as a brand which provides products that
contains low carbohydrates and fats. This means that families will be provided with healthier
choice related to consumption of energy bars. To a certain extent the success and failure of
businesses depends on the way it has positioned itself. The recommended positioning strategy
will help in attracting more and more people in the market. In addition to this, it will also support
in meet needs of people which are conscious towards their health. Individuals can gain instant
energy by eating the bars that are being offered by Halo Foods.
TASK 3
3.1 New product development to gain sustainable competitive advantage
The food and drink market in which Halo Foods operates is highly competitive as there
are many small and large market players. In order to sustain in situation of such an intense
competition, businesses are required to develop new products at regular intervals. The process of
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product development begins with market research where Halo Foods try to identify the changing
need and demand of people. On the basis of identified needs, products are being developed. For
example if individuals are looking forward for cereal bars which contain low fats and high
energy then the organization develop products which consist of the same. This supports in
maintaining adequate demand of Halo Foods products in market. In addition to this, it can be
stated that offering products on the basis of customer demand will help in getting competitive
advantage over other market players. Individuals will become eager to buy cereal bars of Halo
Foods as they are able to meet changing demand in the best possible manner. Competitive
advantage is defined as the situations in which people prefer to choose products of one particular
firm over other market players (Srinivasan and et.al., 2009). Thus, it can be stated that by making
changes in products as per customer needs, Halo Foods can easily gain advantage over its major
competitors.
3.2 Distribution process for new product
Distribution can be defined as the way in which products and services reaches customers
for final consumption (Luca and Suggs, 2010). Halo Foods can distribute its products with the
help of both online and offline sources. Its new products which is energy bars can be delivered to
people in market by its own physical outlets. Furthermore, the organization also have an option
to distribute these bars with the help of different supermarkets. In addition to this, it can be stated
that the supermarket stores can act as mediator from where people can easily buy energy bars
which are offered by Halo Foods. Other than this, it can also use strategy such as online where
Halo Foods can establish its own online store. This will make it very convenient for people to
buy new energy bars in different favours. Individuals will be required to order to the bars online
and the payment can be done at the time of delivery. Therefore, it can be stated that the proposed
distribution strategy will make it very convenient for people in target market segment to buy the
new product of Halo Foods. At the time of developing effective delivery system, the brand needs
to ensure the fact that all its new product is available to right people, at right place on right time
(Birnik and Bowman, 2007). If in case, the energy bars become successful, then its distribution is
required to be very effective as well as efficient.
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3.3 Price of new product according organization objectives and market conditions
The pricing strategy adopted by firms plays very crucial role in growth and success of
business (Oly Ndubisi, 2007). One of the major objective of Halo Foods is to attract new
millennial generations and command their loyalty. Further, the market in food industry can be
termed as highly competitive. Therefore, it can be stated that low price strategy will be more
suitable for the new product offered by Halo Foods. Energy bars which has been launched by the
organization are completely new in the market. People in may or may nor purchase the product
during initial stage. Halo Foods low price strategy will encourage individuals to try the product
at-least for once. Along with this, it can be also stated that high price strategy is not suitable in
situation where competition in market is highly intense. Halo Foods is required to opt for low
price strategy in initial stages. Furthermore, after the new products gets successful, the brand can
increase its prices. Therefore, it can be stated that according organization objectives and market
conditions low prices for energy bars is going to be appropriate.
3.4 Promotional activity integrated to achieve marketing objectives of new product
In order to make its new product successful, Halo Foods will be required to carry out
promotion activities at very large scale. The marketing objective of Halo Foods is to increase
more and more sales of its products. Energy bars can be marketed and promoted by with the help
of internet. Social media has emerged as one of the biggest and most potential platform to
promote products of business. Halo Foods can develop its official page on social networking
sites such Facebook. All the information and benefits associated with energy bars can be
provided to people in market through social media. Other than this, Halo Foods can also
advertise its new products on internet by using tools such as pop ups. When people will be
surfing on internet, ads of energy bars will be displayed. This will create awareness among
people and will encourage them to consume the bars at-least for once. One of the most important
thing which is required to be taken care of by organization is the content of its promotional
message(Sheth and Sisodia, 2015). Benefits and prices of energy bars are the two most important
things which should be included at the time of carrying out promotion. On the other hand, the
organization is also required to communicate customers the fact that the quality of its products is
not compromised.
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3.5 Extended elements of marketing mix
It can be stated that with the passage of time, elements of marketing mix has been
extended to additional three more P's. The extended elements of marketing mix are mentioned
below as: People- It is one of the most important extended element of market mix. Halo Foods is
required to invest large amount of financial resources and time in order to enhance
effectiveness of all its employees (Jobber and Ellis-Chadwick, 2012). Furthermore, it can
be also argued that in order to make a product successful, it is essential for businesses to
recruit and train right amount of personnels because they are the one whose efforts will
make the new product successful. Process- This is the element which deals with ability of organizations provide better
quality of products and services, deal with complains and take care of issues and
challenges faced by workers. In order to make the new product of Halo Foods successful,
the brand is required to develop efficient processes.
 Physical evidence/Layouts- This denotes that how the brand present itself to customers in
the marketplace (Dann, 2008). Halo Foods physical evidence can be its brand image,
logo, packaging etc. which can distinct it from other players in the market.
CONCLUSION
From the above report, it can be concluded that in order to become successful in market,
businesses need to focus on 7P's of marketing. Further, Halo Foods should adopt low prices and
high promotion strategies to increase sales of its new products. From the above study, it can be
concluded that effective strategies related to segmentation, targeting and positioning can take
businesses to new heights of success and growth.
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Online
Key elements of a successful marketing strategy. 2015.[Online]. Available through:
<https://www.nibusinessinfo.co.uk/content/key-elements-successful-marketing-
strategy>. [Accessed on 14th March 2016].
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