Marketing and Entrepreneurship- Case Study
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Added on 2020-02-23
Marketing and Entrepreneurship- Case Study
Added on 2020-02-23
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Running head: MARKETING AND ENTREPRENERUSHIPMarketing and EntrepreneurshipName of the studentName of the universityAuthor’s Note
1MARKETING AND ENTREPRENERUSHIPActivity 2Peter’s the frozen desserts giant, with its expertise in Ice Cream is in the limelight forintroducing new range of products. Peter’s to roll out a new range of frozen desserts have joinedforces with Arnott’s to provide Australia’s favorite and most recognized flavor that taste like oldschool biscuits. Arnott’s reputation of being the best baker of inquisitive biscuit, have workedhard to replicate the mouthwatering taste of Ice Vovo, Wagon Wheel Original, Caramel Clownand Mint Slice biscuits as frozen treat (Clarke 2015). Peter’s and Arnott’s both have posted theirnew launch of the product on Facebook, both have received an appalling response of praise fromthe crowed, supporting the new innovation. Peter’s head of the marketing stated that, the newproduct would bring the taste of nostalgia among customers (Kilara and Chandan 2013). Thenew range of product and the flavor will compete with other flavors; thus, will bring a healthycompetition among different flavors of the world. Every Australian will enjoy the new product,as the traditional flavor of Arnott’s biscuit in new form and in new style will raise the curiosityof many (Powell, Harris and Fox 2013). However the company is segmenting the market for theage group of 18-30 thus, targeting the market that is already familiar with the taste of Arnott’sbiscuits. The innovation will be much appreciated by the people who are already fan of Arnottbiscuits, as it will bring out the nostalgia of childhood. The widely anticipated glories of Arnott’sbiscuit in form of Ice cream will create a huge market for the brand (Goff and Hartel 2013). Boththe companies aimed to bring the on demand flavor in a new form to surprise it customer base.The success of the product will be immense in the current market, as Arontt’s biscuits arelegendary which holds the legacy to appease the Australian taste buds (Kilara and Chandan2013). Moreover, every segment of the population loves a scoop of Ice Cream and bringing newflavor in the market will bring the glory days back for both the companies (Powell, Harris and
2MARKETING AND ENTREPRENERUSHIPFox 2013). It will also give the Australians something to cherish upon. The four unique flavorsresurrected to please the taste bud, will definitely attract new crowd. On popular demand thisflavors are brought in the form of ice cream and thus, will create necessary buzz for marketing ofthe product. The new product will be available in the frozen aisle section of every store (Clarke2015). The prices of the new launches are at a reasonable rate to encourage the buyers form thetarget market. Frozen desserts competitors will now have to be quite innovative to stay in therace; it can be done either by reducing the existing price or introduction of new flavors. Flavorslike Wagon wheels, Iced vovo, Mint slice and Caramal Crown definitely have the edge to dowell in the market. In addition, being available in all major retail store will make sure that everyAustralian gets a piece of this delightful treat (Goff and Hartel 2013).
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