Enterprise Innovation and Markets - Analysis of Marketing Mix Strategies of Norco Milk Corporation

The main purpose of this discussion will be to analyse the marketing mix strategies of the business entity Norco Milk Corporation. The innovative products manufactured in this firm are almond and camel milk, to reduce the gap of healthier and vegetarian options for the consumers.

Running head: ENTERPRISE INNOVATION AND MARKETS
ENTERPRISE INNOVATION AND MARKETS
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Author Note

1ENTERPRISE INNOVATION AND MARKETS
Introduction
The main purpose of this discussion will be to analyse the marketing mix strategies of
the business entity Norco Milk Corporation. Norco Co-operative Limited is the supplier of
agricultural products marketing co-operative based in Australia. The organization is based in
New South Wales, and was established in the year of 1895. They sell their products in local
as well as international markets, which are produced more than 200 farm members. The farm
also produces cheese, ice-cream and rural products apart from milk products. The innovative
products manufactured in this firm are almond and camel milk, to reduce the gap of healthier
and vegetarian options for the consumers.
Marketing Mix Strategies
Product
The farms of Norco are engaged in producing and supplying milk in each and every
day of the year from their 201 dairy farms located in the South East of Queensland region
along with the northern part of New South Wales. They are fully focused on delivering high
quality flavored milk to the entire region of Australia along with the region of Japan, the
United States and they are holding talks to export their product in China. They are sold as
plastic bottled as well as glass bottled milk, and there are two categories of milk produce by
them. They are white milk and flavored milk. The flavored milk consists of strawberry,
chocolate, natural malt, honey, coffee, caramel and mint flavors. Apart from all these, the
firm can also produce oat milk, coconut milk, goat milk and soy milk, almond and camel
milkto meet the demand gap in the regions where they are serving, to provide low-calorie
product required in the market. They have introduced camel and almond milk in the market
place to serve the needs of the consumers who are vegetarian and looking for healthier
lifestyles (Norco Foods 2019).

2ENTERPRISE INNOVATION AND MARKETS
Price
The price of the products of Norco farm varies from region to region, and according
to the requirements of the market where they sell their products. Recently, the owners have
increased the base price by 60 cents a liter, mainly for the newly introduced camel and
almond milk. It has made the price of the product 61.5 cents a liter. The production and
operation costs will be lowered when the unmet demands will be met successfully. The
organization will use the society to produce cow milk alternatives which will help the firm in
revenue generation as well as ensuring environmental sustainability. The pricing methods
need to be done in such a manner that it can be affordable for all the segment of people in the
market (Sinclair et al 2015).
Place
The milk products are sold in different stores or outlets of other reputed organizations
around the regions where they sell their product, and serves both local and international
people. The branded retailers have tie-ups with Norco and allow selling their product from
the reputed retail chain, for example, Coles Group in Australia. Norco Agri/Rural, owned by
Norco Co-operative Limited, operates thirty rural stores that provide a range of products for
the farmers, which also includes milk (Pathak et al 2015).
Promotion
In this modern tech-savvy world, it is very much necessary to have the presence in
multiple social media platforms. Norco is not out of it and they have their official social
media presence in the platforms of Facebook, Instagram and YouTube. This helps to attract
the attention of more number of people within a click. Promotion of camel and almond milk
would provide healthier options to the consumers for their choices of lifestyle or medical
reasons. The organization is well-positioned for trying something innovative (Wicks 2018).

3ENTERPRISE INNOVATION AND MARKETS
Conclusion
From the above discussion it can be concluded that Norco need to come up with
alternative options like almond and camel milk for meeting the needs of the people in the
regions were they are serving. Apart from this, Norco should consider producing other cow
milk alternatives such as camel oat milk, coconut milk, goat milk, soy milk and almond milk
to fill the market gap. Almond milk is known for its nutritious and low-calorie vale, which
possess the strengths and opportunities to capture the market share on behalf of Norco Milk
Corporation.

4ENTERPRISE INNOVATION AND MARKETS
References
Norco Foods. (2019). Norco Dairy Products. 120 years of passion. [online] Available at:
https://norcofoods.com.au/our-products/ [Accessed 13 Sep. 2019].
Pathak, N., Hagare, P., Guo, W. and Ngo, H.H., 2015. Australian food processing industry
and environmental aspect–a review. In International conference on biological civil and
engineering (BCEE-2015) Feb (pp. 3-4).
Sinclair, K., Curtis, A., Mendham, E. and Mitchell, M., 2015. Assessing the Efficacy of
Transition Theory to Identify Industry Transformation: a case study examining the
deregulation of Australia's dairy industry. Australian Geographer, 46(1), pp.113-129.
Wicks, D., 2018. Demystifying Dairy. Animal Studies Journal, 7(2), pp.45-75.