This Marketing Opportunity Analysis provides an overview of Uncle Tobys, a food manufacturing company in Australia. It includes market analysis, competitor analysis, target market, and positioning strategies. The report also discusses the company's background, SWOT analysis, and objectives.
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MARKETING OPPORTUNITY ANALYSIS
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Table of Contents Introduction and Company Background..........................................................................................4 Introduction.................................................................................................................................4 Company Background.................................................................................................................4 Situation Analysis............................................................................................................................4 Market Analysis..........................................................................................................................4 Macro Environmental Analysis...................................................................................................5 Micro Environmental Analysis...................................................................................................6 Competitor Analysis........................................................................................................................6 Competitive Market Summary....................................................................................................7 Consumer Analysis.....................................................................................................................8 SWOT Analysis..........................................................................................................................8 Objectives....................................................................................................................................8 Target Market & Positioning...........................................................................................................9 Selection of Target Market..........................................................................................................9 Positioning Strategy....................................................................................................................9 Positioning Maps.........................................................................................................................9 Product Mix Strategies...................................................................................................................10 Product......................................................................................................................................10 Defining the product attributes..................................................................................................10 Recommendations/ Conclusion.....................................................................................................11 References......................................................................................................................................12
Introduction and Company Background Introduction Amarketingplanreferstoanoutlinethatdeterminesmarketingstrategyofan organisation for a fixed period of time. Usually huge organisations make a marketing plan for a year, quarter or even months(Byun and Ha, 2020). Various factors that are included in a marketing plan consists of a business overview, goals and objectives to be achieved, strategies to achieve it and so on. The following report consists of plan in order to make strategies for new products launched by company. Problems related to increasing competition in market and various measures to face competitions in market is also discussed. Company Background Uncle Tobys is a food manufacturing company which was established in Australia in 1861. The company specialises in production and sales of healthy oat products for breakfast. The company continuously focuses increasing its products range in order to increase the customer base. Uncle Tobys is now a subsidiary company of Nestle which is wholly owned by it. Nestle acquired it in 2006 (Uncle Toby: Greatness Never Ends, 2020). brothers George Parsons and Leonard came together to manufacture oats in Melbourne in 1861. they established the company as Parsons Bros. Which was later on changed to be Uncle Tobys. The products manufactured and sold by Uncle Tobys is divided into three large categories. These are Snacks, Oats and Cereals. There are a number of different oats manufactured by Uncle Tobys such as ancient grains, super blend, traditional oats and so on. Various other products of Uncle Tobys include Cheerio, snack bars, Roll ups and so on. Situation Analysis Market Analysis The current situation of COVID-19 have greatly impacted the economy of Australia affecting various industries. In food business there have been some huge variations as some companies are facing huge demands due to people's panic buying while others do not have any demand. The sea food companies who used to export their products to other countries are facing extreme losses due to closed trade with China.
A decrease in demand for Australian food products have also been seen as the restrictions on travelling is increased worldwide due to corona virus(D’Souza and et. al., 2019). Other major reasons for industry being affected due to this pandemic are the decrease in availability of labour in market. The lead time for production have also increased as the logistics requires a lot of time and travel restrictions are increasing everyday. The market complexity is very high as the costs are increasing and there is huge impact of it seen on company. In the post COVID situation the industries are recovering from the shock they took. The supermarkets and groceries are growing rapidly. The forecasted growth of these business opportunities is more than 75% in coming five years. Uncle Tobys should focus on partnering with all big supermarkets and grocery stores. This will effectively display Uncle Tobys in their stores. This will also create a memorizing value in minds of customers about the product which can be beneficial for company in long run. Macro Environmental Analysis Political AnalysisPolitical instability Carbon tax Economic AnalysisIncrease in production of cereal Australian food and grocery council Social AnalysisSlow growth Habits of skipping breakfast Technological AnalysisDevelopment in technologies Breakfast skippers on social media Legal AnalysisFoodStandardsAustraliaNew Zealand(Çalı and Balaman, 2019) Environmental AnalysisProduction of cereals
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The above table helps in describing that how there are a number of different external factors which are affecting business of Uncle Tobys. If the country is facing political instability it might affect business as well. Also there is no change in price due to Carbon tax as there are no affects on agricultural produces. Increase in production of cereal is a benefit for company also Australian Food and Grocery council is spreading awareness for healthy breakfast which will help company in future. In society the growth of cereals is however slow and the trend which is common in society of skipping breakfast is also resulting in providing negativity to organisation. The production of cereals is helping environment. Also development of technologies helps Uncle Tobys to produce healthier breakfast. On the other hand use of social media increases the breakfast skippers(Sharma Pandit and et. al., 2020). There are also a number of laws that are affecting Uncle Tobys working which include Food Standards Australia New Zealand etc. Micro Environmental Analysis The product range of company is its strengths as they sell snacks and a number of cereals. There are a number of products brought out by Uncle Tobys that help them to constantly gain more customers. The loyal customers of company are also its strength. While studying competition in Australia Uncle Tobys is a weak competitor. There are a number of competitors present in market including Kellogg's and Sanitarium.The brand Uncle Tobys is famous in Australia but it is not recognized worldwide. Summary of Company: The company was established in year 1860 by two brothers. It was emerged as Parsons Bros., and is now known asUncle Tobys. There first product was oats after which they started development and production of other products as well. They have introduced yogurt wraps, Oats Bran, roll ups and so on. In 2006 Nestle took over Uncle Tobys. After which they launched snack bars, oats quick cups which soon became famous in market. Competitor Analysis The competition of Uncle Toby's is from 4 brands which are Kellogg's , Sanitarium, Be natural as well as Woolworth. The point of similarity between all of these brands is that they are very similar as they are in same industry but however they are differentiating by providing
various products. Uncle Tobys is differentiated by its focus on products of Oats and Wheat. Kellogg's have brand recognition which provides it with a point of differentiation. Whereas, Sanitarium focuses on providing customers with various healthy cereals as well as vegetarian food(Ben Youssef, Leicht and Marongiu, 2019). Be natural is focusing on providing gluten free products and breakfast which provides it with benefits while facing competition. The prices at which Woolworths provide products to its customer is acting as a point of differentiation for company.Itisnecessarythatorganisationsareeffectivelyworkingontheirpointof differentiation. It is due to that point of differentiation that organisations can effectively set up their business and influence consumers. Competitive Market Summary CompetitorTarget Market ProductPric e Promotion al Distributio n Strength/ Weakness Kellogg'sChildren, health conscious youngster s Products buildon emotional attachment here $4-8Theyuse cartoon characters intheir advertisem ents Theyuse major supermark etsand convenien cestores for distributio nand online High market sharesas wellas various optionsof product available. Sanitarium Health Food Comapny Children above7. teenagers and adults Positioning of product is doneto establishas market leader $4-8Theyhost various programs in order to involve consumers intotheir products Available in supermark etsand other stores Bestseller andstill have favourite products of customers. Top company selling breakfast inNew Zealand and Australia
Woolworths Home Brand Similar products for parents and children(y oung) Positioned to bea substituteto other brands. $4-8They provide products incheap pricesand focuson the similarity it has with products on different brands. Foundin supermark ets, stores Itcanbe usedasa substitute brand as it ischeaper inprice but quality of product is weak. Be NaturalAdults and Youngster s Productsare organicand gluten free $5- 10 Theytake useof brown and green colourto promote productin ahealthy and natural way. In supermark ets such as Coles& Woolwort hs Starteda newtrend ofgluten free products andit takes every opportunit yto promote it. Consumer Analysis The major range of consumer for Uncle Tobys is formed by children due to which their parents are major buyer of products. There are a number of supermarkets which sell the products of company including Aldi, Coles, Woolworths etc. Major requirement of customers is for healthy food which is attracting them towards Uncle Tobys(Calderon-Monge, Pastor-Sanz and Garcia, 2020). There are various factors which are effecting buying decisions of consumers such as the requirement to feed their children, the social trend of having healthy breakfast. There are also different psycho graphic factors such as interests of consumers, different interests of consumers, opinions and lifestyle. The children are hugely influencing there parents to buy products. There are also group influences seen as a number of times Uncle Tobys is effectively promoted by positive word of mouth. The consumers buying behaviour is also a number of times influenced by media strategy used by organisation.
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SWOT Analysis StrengthsWeaknesses Brand name and huge customer base Promotionthroughpositivewordof mouth Famous only amongst children. Promotional strategy is old OpportunitiesThreats Inclination of people towards healthy living and eating Various gluten free and organic options A number of competitors in market. Substitutesforhealthybreakfast introduced. The brand have established its name due to which a number of customers are attracted towards it. Parents of similar group often spread awareness about product with the help of positive word of mouth. However the company still needs to be famous amongst adults as the children products are sold the most(Aliyev, Urkmez and Wagner, 2019). Company have great opportunities to venture into gluten free and organic products as people are favouring healthy eating. However there are a number of competitors which are proving to be a threat for company. Also other than oats there are a number of products such as juices etc. being made to provide substitute. Objectives To increase brand image and awareness of product. Increase sales of company along with revenue in units up to 8%. Next objective or organisation is to increase market share in 12 months up to 10%. The objectives of Uncle Tobys are divided into three major sectionswhich are market objectives, sales objectives as well as communication objectives. All the areas including image of brand, revenue and the presence in market is effectively addressed in objectives. With the help of these objectives an organisation can easily develop the future of the organisation and ways in which the strategies of organisation will be set up in coming time in order to achieve all these objectives.
Target Market & Positioning Selection of Target Market When trying to reposition the brand that is Uncle Tobys it is necessary to first determine a target market for the organisation. In the following new product that is brought in by Uncle Tobys consists of various audiences. They have basically divided their audience into two different demographic groups. They have chosen women from age 18-25. They have studied that almost 80% of people in Australia are skipping their breakfast in morning who are falling into this category. That is often due to lack of time as they need to go to colleges or offices. The product will target this market and provide them with a breakfast that is healthy and ready-made. They do not need to spend time in cooking this(Juaneda-Ayensa and et. al., 2019). Positioning Strategy Positioning strategy The products of Uncle Tobys are already positioned in market as healthy food. It is necessary for the organisation to take care of fact that they are effectively going for expansions with the help of new product. Therefore, it is positioned in market as being a product for those who are of age 18-24 and are usually skipping their breakfast. The earlier positioning of the product as a healthy product will not be changed only expansion to it will be brought. Positioning attributes There are some opportunities that have been identified earlier in SWOT analysis those will be used in order to introduce new product of Uncle Tobys in the market. They are coming up with gluten free products also in order to give competition to the rising competitors in market. Also they are taking advantage of people's inclination towards healthy living and eating. All this is positively affecting company as they can make sure that they are positioning their product in market in such a way that target consumers are attracted towards the new launch. Positioning Maps In today's world people have been looking for healthy breakfast which will bring various benefits related to health to the consumers. Along with this learning a perceptual map for positioning products of Uncle Tobys is shown below:
Product Mix Strategies Product There are a number of different products that are provided by Uncle Tobys in the market. This include Breakfast Cereals, snacks, bars, oats and so on. They are providing various edibles such as oats that are minimally processed. This is helping in providing various benefits from all the natural minerals as well as vitamins that are present in food. There is high fibre and high protein present in oats that is helping organisation to give different benefits to its consumers. The change that is to be brought in the product range of the company includes change in packaging of various products that are meant for children from age 3-12. they are provided with various toys of attractive colours that will grab their attention(Mogaji and Yoon,2019). There is also new range launched for women and those who are skipping breakfast in order to provide them with something healthy that is not time consuming as well. Defining the product attributes
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CurrentProduct Attributes NewProduct Attributes ResultingConsumer Benefit Healthyandtasty foods. Wellmarketedto brandloyal consumers. Establishedwithin themarketof Australia. Improvementin packagingwillbe done tremendously. The use of toys in the cerealstargetedto kidsalongwith various characters of animated cartons. Newappreciation alongwithnew consumersfor product. Increase in consumer satisfactionasthe expectationsof consumersare effectively fulfilled. Recommendations/ Conclusion There are a number of changes concluded in Uncle Tobys from time to time in order to set up business successfully. The changes which are brought in the organisation are majorly focused on the objectives that have been created.It will be effectively recommended that company must focus on target market and do extensive promotion in order to attain its objectives. There are a number of different promotional tools present in market which can help organisation to effectively set up their business in the new target market along with it achieving their goals and objectives. References Mogaji, E., & Yoon, H. (2019). Thematic analysis of marketing messages in UK universities’ prospectuses.International Journal of Educational Management. Juaneda-Ayensa, E. & et. al (2019). Developing new “Professionals”: Service learning in marketing as an opportunity to innovate in higher education.Studies in Educational Evaluation,60, 163-169. Aliyev, F., Urkmez, T., & Wagner, R. (2019). A comprehensive look at luxury brand marketing research from 2000 to 2016: a bibliometric study and content analysis.Management Review Quarterly,69(3), 233-264.
Calderon-Monge, E., Pastor-Sanz, I., & Garcia, F. J. S. (2020). Analysis of sustainable consumer behavior as a business opportunity.Journal of Business Research,120, 74- 81. Ben Youssef, K., Leicht, T., & Marongiu, L. (2019). Storytelling in the context of destination marketing: an analysis of conceptualisationsand impact measurement.Journal of Strategic Marketing,27(8), 696-713. SharmaPandit,S.&et.al(2020).Analysisofmarketinginformationsourcesamong smallholder vegetable farmers.International Journal of Vegetable Science,26(1), 96- 105. Çalı, S., & Balaman, Ş. Y. (2019). Improved decisions for marketing, supply and purchasing: Mining big data through an integration of sentiment analysis and intuitionistic fuzzy multi criteria assessment.Computers & Industrial Engineering,129, 315-332. D’Souza, C. & et. al.,(2019). Environmental management systems: an alternative marketing strategy for sustainability.Journal of Strategic Marketing,27(5), 417-434. Byun,C.G.,&Ha,H.H.(2020).AnExploratoryStudyonSuccessfulFactorsof Entrepreneurial Marketing in Start-up.Asia-Pacific Journal of Business Venturing and Entrepreneurship,15(2), 183-192. UncleToby:GreatnessNeverEnds,2020[Availablethrough], <https://www.uncletobys.com.au/>