Strategic Planning Process : Boost Juice Bars
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Added on 2021-04-24
Strategic Planning Process : Boost Juice Bars
Added on 2021-04-24
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Running head: PLANNING PROCESS OF BOOST JUICE BARSThe Planning Process of Boost Juice BarsName of the University:Name of the Student:Authors Note:
PLANNING PROCESS OF BOOST JUICE BARS1Table of Contents1. Introduction......................................................................................................................22. Analysis of Situational Factors........................................................................................22.1. Customer, Orientation, Market and Product Characteristics....................................22.2. PEST Analysis..........................................................................................................32.3. SWOT Analysis........................................................................................................43. Recommendations Based on Situational Factors.............................................................53.1. Target Market...........................................................................................................53.2. Location....................................................................................................................63.3. Customization of Total Products..............................................................................73.4. Launch Communications Plan..................................................................................84. Estimated Outcomes........................................................................................................95. Conclusion.....................................................................................................................10References..........................................................................................................................11
PLANNING PROCESS OF BOOST JUICE BARS21. IntroductionA new outlet is deemed to be risky in comparison to an existing outlet. However, it alsooffers an opportunity to attaining increased returns in case effective strategic decisions are made.It is also observed that as the selected client cannot change some of its product components ofthe franchisor they will be able to choose location for this new outlet (Aithal, 2016). Newadjustments are also to be made within “total product” so that it appeals more directly to thetarget market within the new location and consider their own store marketing communicationsplan. The objective of this report is to explain that as an owner of a boutique marketingconsultancy business specializing in financing and one of the company’s clients has expressedinterest of turning out to be an owner of the franchise. Boost juice bars is selected as thefranchise chain that is an Australian company and will be launched in global market. The reportwill also clarify whether this selected franchisor recently just operates in Australia or attainsglobal perspective. 2. Analysis of Situational Factors2.1. Customer, Orientation, Market and Product CharacteristicsBoost juice company is oriented in Australia and distributes its products within thesupermarkets along with other stores. For the reason that the company exist in a maturity phasethat has selected a stability pricing objective. The company offers healthy and fast drinks all overAustralia and was established in the year 2000 (Barrow, Barrow & Brown, 2015). It is positionedas the fastest growing fruit juice bar within the southern hemisphere. The company is orientedwithin all over Australia and is observed to have around 200 stores in most parts of the world.Boost juice company offers a wide range of great tasting juices or smoothies that are sold bythem that offers convenience along with argumentation of several products. This also deems toimprove the needs and changing desires of different consumer groups from all over the world(Barucic & Umihanic, 2016). As the company is focused on the franchise system, it will buildshop in busy business area for focusing on international expansion. The consumers of Boost juice company are the ones those desire to consume fresh, quickalong with nutritious juices that is of superior quality and does not come with artificially addedflavors. However, in the upcoming years the company is deemed to expand its business throughfranchising within the Asian markets. The company has a broad range of consumers for thebrand is renowned all through the world. Moreover, in while entering a new market or forproduct modification, the company attains clear understanding regarding the desires and wants ofits consumers (Beiko et al., 2017). This also consider effectiveness of its product distributionchannel along with attaining their interest and attention. For the reason that Boost juice companyis attaining a dominant position within the market in the juice market, it has attained a huge loyalconsumer base. All its existing consumers are willing to pay more prices for its customized
PLANNING PROCESS OF BOOST JUICE BARS3products for the reason that their needs are addressed properly. Boost juice company alwaysfocuses on the objective of generating an effective co-production process in order to develop atailored product based on consumer needs. Based on the preferences of its consumers, thecompany made sure that all its product must add an increased value in which the price turns outto be a less vital factor. Products of Boost juice company are greatly focused on its consumers’ health andnutrition and their products are segmented into various categories such as smoothies, juices,crushers, complementary products and supermarket product ranges (Boyd et al., 2017).Smoothies offered by the company includes low fat smoothies, super smoothies, skinnysmoothies, sporty smoothies along with lite smoothies. In addition, juice ranges of the companyinclude “made to order” juices made from fresh fruits. Crushed product segment of the companyincludes berry crush, mango tango crush, tropical crush, watermelon crush and lemon crush. Thecomplementary products of the company include brinks, a range of healthy snack encompassingfresh yogurt, muesli bars, fruits and wraps (Burns, 2016). Supermarket product range includesfrozen yogurt, bottle juice along with healthy snacks already present within the market. 2.2. PEST AnalysisPEST Analysis of the Boost Juice Company is observed to offer a comprehensive insightwithin the environment of the organization. This is for the reason that it will cover analysis ofeconomic, political, social, technological, legal and environmental factors that impacts thebusiness of the company (Craft & Hassan, 2015). This analysis can facilitate the company inattaining competitive advantages within through its new franchising decision from the boutiquemarketing consultancy business. PEST Analysis for Boost Juice Company is conducted under:Political- The political factors that impacts the business of the Boost Juice Companyincudes largest democracies within the world, runs on the federal government and highlyimpacted by the policies set by the government. Another political factor that has an effecton the company’s business is that Boost Juice Company is impacted greatly by thepoliticians’ interest along with the ideologies of the political parties (Craft & Hassan,2015). The political factors that impact the business of the company incudes the rulingsand guidelines set by the health department, the advertising standards authority, tradingstandards along with office of fair trading. Boost Juice Company has to deal with thechallenges of these standards in selecting the ingredients for its products along with theimage these products are observed to depict. Economical- Economic factors that can be considered by the juice company in operatingits franchised business all through the world includes its increasingly growing middleclass and GDP is around 7.46 billion dollars (Cross, Belich & Rudelius, 2015). Theeconomic factor also considers that the company is situated to have the fourth largestbuying power and along with that it is anticipated to grow by 7.75 by the end of 2020.The purchasing of beverage product from Boost Juice Company is focused on particularcorner market or class. Moreover, the financial aspects that impacts the company’s
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