Marketing Mix Assignment Sample (Doc)

REPORT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Company summary.....................................................................................................................1
Industry overview........................................................................................................................1
Micro environment......................................................................................................................2
Macro environment.....................................................................................................................3
SWOT analysis............................................................................................................................4
Market STP.................................................................................................................................5
Marketing mix strategies.............................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing may be defined as the sum total of different types of activities which are
involved in the process of promoting the goods manufactured by the company or the services
rendered by it. It involves activities like sales promotion, pricing, distribution of products and
services, segmenting, targeting and positioning and all the other activities relating to the selling
of the product or the services. The present case study is performed on the Boost Juices which is
an Australian based company set up in the year 2000. The report will discuss about the company
and the industry in which that company exists in brief. Furthermore, it will outline all the micro
and the macro factors which affects the company. After that it will highlight the factors of the
SWOT analysis along with the market STP that is segmentation, targeting and positioning. At
last the report will demonstrate the revised marketing mix for the new product.
MAIN BODY
Company summary
The Boost Juice is a retail business outlet which is established in March 2000, by Janine
Allis. This company is an Australian based company which deals in the selling of specialised
juices of different fruits along with some variety of smoothies. With the help of the franchising
the company has expanded in many countries such as Europe, United Kingdom, India, South
Africa, Asia and many more countries.
Industry overview
For governing and controlling the Australia's non- alcoholic beverage industry a body is
established named The Australian Beverages Council Ltd (ABCL). All the beverage industries
employ around 46000 people in the whole industry and pays $1.2 billion in form of taxes to the
government of Australia along with contribution of around $7 billion to the economy of
Australia (Zeithaml, Bitner and Gremler, 2014). This industry is concerned with production of
regular carbonated soft drinks and juices along with a variety of drinks and juices like energy
drinks, diet drink, vegetable and fruit juices, cocktails and mock tails, flavoured milk, iced teas
and many more other varieties. Around US $1163 million revenue was generated from the food
and beverage industry in 2018 and the revenue is expected to grow annually around 15.9 %
which will result in the revenue of approx US $2605 million by 2023.
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(Source: Food & Beverages, 2019)
Micro environment
The micro environment refers to the types of environment which is internal to the
organization which means that all the factors which affects the operations and the workings of
the organization due to changes in the internal factors like the employees, suppliers, customers
and many more. The internal analysis can be assessed and studied properly to gain a competitive
advantage over the competitors and the rivals. This can be done with the help of Porters Five
Forces Model which is explained below- Bargaining power of customers- Here the power to rule is in hands of the customer. This
is because of the reason that the customer are he kings for the company and every
company works in order to make the customers happy. Before producing the product or
the services the company should keep in mind the preferences and the requirements of the
consumers and then accordingly make the products and the services. Bargaining power of suppliers- In this case the power is in the hands of the suppliers
because the suppliers are less in numbers so they have control over the companies. The
suppliers have the power because they are limited in number and threats the companies to
increase the cost of the raw materials (Schulze, Schöler and Skiera, 2014). Threats from the entry of new entrant-This is a major threat for the existing company.
Entry of new company or competitors will decrease the customer base and the market
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share of the existing companies. So the Boost juice must timely study the entry of new
entrants and must find ways to face the competition like merging with the new entrant or
acquiring it. Threat of the substitute products- It refers to the fact that every product or the service
has a substitute of the product that is the same product is produced by some other
countries as well (Feng, Morgan and Rego, 2015). For overcoming this problem Boost
juice should time- to- time study the market and the substitute goods producers and their
strategies and accordingly upgrade its strategies and develop new marketing strategies.
 Rivalry among the competitors- This refers to as cut throat competition among the
competitors. The rivalry can be based on many factors like advertising battles, price
competition and many other factors. With help of this factor the consumers are benefited.
It is because of the reason that the companies in order to face the competition all the
companies make superior quality products at cheaper rates.
Macro environment
The macro environment is the sum total of the different factors which are external to the
organization and affects the operations and the working of the whole company. The macro
environment is studied with the help of PESTLE analysis. The detailed PESTLE analysis of the
Boost Juices is as follows-
 Political- These are the factors which includes the government policies and rules and the
regulations which all the companies has to follow. This types of factor include all the
policies of government, foreign trade policies, tax policies, political instability and all the
factors relating to politics and government.
 Economical- These factors are the main deciding factor of the economic development of
the company. Factors like inflation rate, changes in interest rates, unemployment rate, and
related factors all consists of the economic factors.
 Social- These are the factors which depicts the status and the level of the society like the
culture of the society, demographics, population trends, age distribution, values followed
by society and many other factors. The Boost juices must before producing the products
consider the requirements of the society and produce accordingly (Leung, Bai and
Stahura, 2015).
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 Technological- These are the factors related to the developments and innovations in the
field of the technology. For the expansion of Boost Juices it is very necessary for the
company to study the technological aspect of the area where it wants to invest or open
new branches (Parente and Strausbaugh - Hutchinson, 2014).
 Environmental- These are the sources from where the company can generate or use the
raw materials which are needed for the manufacturing of the products or the services. For
Boost Juices this is the most important factor to be considered because for drinks and
juices all the raw materials are taken from the environment only.
 Legal- This is also a major factor which cannot be ignored because of the reason that the
company works in many countries and all the countries have their own separate set of
laws and regulations. So the company has to follow different set of laws regarding the
nutrients level in the juices, content of alcohol if it is there, the quality level and many
other factors.
(Source: Introduction to PESTLE analysis)
SWOT analysis
The SWOT analysis is an analytical tool or framework which help the companies in
analysing and evaluating the internal strengths and the weaknesses and also helps in assessing
the external threats and the opportunities which are present in the external environment.
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Strengths- These are referred to as those characteristics of the which helps the company in
standing out differently and at superior position as compared to the competitors. The strengths of
the Boost Juices are as follows-
 With the regular drinks and juices the company also provides some special drinks for
obesity and drinks for removing the unhealthy lifestyle. This company has a very strong base and a wide channel of distribution which helps the
company in efficiently supplying the healthy products to a variety of distant consumers
spread all over the globe (Xu, Frankwick and Ramirez, 2016).
Weaknesses- These are the weak points of the which hampers the growth of the company. Some
weaknesses of the Boost Juices are as follows-
 The company mainly focuses on the teenage group and because of that it has lost the rest
of the market segment. Recently the company has also started dealing in the eatables which are perishable goods
in nature and they get wasted and damaged and because of this the cost for the company
increases (Homburg, Jozić and Kuehnl, 2017).
Opportunities- These are the options which are available for the company to grow in the market.
Some opportunities present in the market for the Boost juices are as follows-
 The major opportunity for the company is to tap the Asian market as the Asian market is
the most growing market in the world. Another opportunity is to develop and diversify in more type of product range and
variety.
Threats- These are the negative points which stops and poses problems for the company in
growing to its maximum capacity. The threats posed by the external environment are as follows-
 There is high level of competition in the market and because of this high competition the
company tends to lose its market share.
 In order to face this intense competition the company has to go for high advertising and
promotion of its products and services which involves a large cost for the company.
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(Source: Youthinc, 2016)
Market STP
The STP model stands for Segmentation, Targeting and Positioning. It is a model of
marketing consisting of three steps which starts from dividing the customers into different
segments then targeting that segment and at last position the products to fulfil the needs of the
target population.
 Segmenting- This refers to dividing the group of customers into different segments on
the basis of some common characteristics and features (Kotler, Kartajaya and Setiawan,
2016). The segments within which the customers can be divided by the Boost juices are
like based on the geographic areas or based on the requirement of packaging like metal
can, tetra pack or plastic bottles or on basis of distribution channels like online
distribution with help of online shopping sites or offline in stores and supermarkets.
 Targeting- After identifying the customer group the next step is to target the customer
that is what or who will be the target consumers. For the Boost juices the main target
group is people belonging to the age group of between 20- 35 between this also the main
target is the people of around 20- 25 age group. This is because of the reason that the
person coming in this age group is very adventurous and health conscious and tries to
experiment with new flavours
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 Positioning- This is the last step of the STP model. This is the step where the company
has to make a place for its product or the service in the eyes of its consumers (Lee,
Kozlenkova and Palmatier, 2015). The Boost juice tries to promote its drinks and juices
in front of the consumers and tries to build a positive image for the so that the consumers
tries to buy the products.
Marketing mix strategies
The marketing mix are the different combination or set of actions which the company
uses in order to promote the products or the services in the market among the consumers in order
to increase the sales and revenue of the company. The elements of the marketing mix used by the
Boost Juices is as follows-
 Product- The product refers to the good or the substance which the company deals with.
A product is an item which the company puts forward for selling it in the market. If the
company deals in providing the services then the services is the product. The Boost
Juices provides a variety of products like smoothies like super smoothie, low fat
smoothie, lite smoothie, juices made from fresh fruits, crushed fruits like lemon crush,
mango crush, berry crush, bottle juices, flavoured milk muesli bars and a more variety of
products. The products produced by the Boost juices are prepared by using high quality
raw materials and because of this the consumers enjoy the drinks of the Boost juices.
 Price- The price refers to the amount or the value of the product or the services which the
company charges from the customers against providing the products or rendering the
services. The Boost juices decides the price of its products by adding all the cost incurred
and also adding the profit margins together comprises the price. This price is then
charged to the consumers. Another pricing method used by the Boost juices is Price
Skimming method. Under this method the company first charges high prices and then
lowers the prices
 Place- This refers to the place where the products or the services are provided to the
potential and the end consumers (Balakrishnan, Dahnil and Yi, 2014). For the Boost
Juices there are two places for distributing the products or the services. The first one is on
trade system. Within this system the products that is the drinks and juices are sold in the
restaurants, hotels and the bars and similar places. The other distribution channel is off
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trade within which the company provides its products at the local shops and
supermarkets.
 Promotion- This is This the most important factor for the successfulness of the business.
The promotion refers to as the activity through which the products or the services is
advertised and promoted within the market in order to increase the sales and in turn
increase the revenue (Hillebrand, Driessen and Koll, 2015). There are many various kinds
of promotional techniques available for the companies in order to promote their products
like advertising, print media, sales promotion, free sampling, personal selling, gifts, free
coupons and many other options. The promotional technique used by Boost juices more
is the digital media. This is because of the reason that the major target customer of this
company is the youth and to attract more and more youth towards the products of the
Boost Juice is to advertise through digital media that is through internet, social media
advertising. It is so because now- a- days more of the youth population is engaged with
the internet and social media.
CONCLUSION
The marketing can be referred to as an action plan which is made to promote the product
or the services produced and rendered by the company to its potential and the target market and
consumers. With the in depth study of the above report it can be summarized that marketing is
very essential for the success of the business because it attracts the consumers' attention towards
the product or the services and this increases the sales and revenue of the company. The report
discussed about the company and the industry in which that company exists in brief.
Furthermore, it outlined all the different types of micro and the macro factors which affects the
company. After that it highlighted the factors of the SWOT analysis along with the market STP
that is segmentation, targeting and positioning. At last the report demonstrated the revised
marketing mix for the new product.
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REFERENCES
Books and Journals
Balakrishnan, B.K., Dahnil, M.I. and Yi, W.J., 2014. The impact of social media marketing
medium toward purchase intention and brand loyalty among generation Y. Procedia-
Social and Behavioral Sciences. 148. pp.177-185.
Feng, H., Morgan, N.A. and Rego, L.L., 2015. Marketing department power and firm
performance. Journal of Marketing. 79(5). pp.1-20.
Hillebrand, B., Driessen, P.H. and Koll, O., 2015. Stakeholder marketing: theoretical foundations
and required capabilities.Journal of the Academy of Marketing Science. 43(4). pp.411-
428.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science. 45(3). pp.377-401.
Kotler, P., Kartajaya, H. and Setiawan, I., 2016. Marketing 4.0: Moving from traditional to
digital. John Wiley & Sons.
Lee, J.Y., Kozlenkova, I.V. and Palmatier, R.W., 2015. Structural marketing: Using
organizational structure to achieve marketing objectives. Journal of the Academy of
Marketing Science. 43(1). pp.73-99.
Leung, X.Y., Bai, B. and Stahura, K.A., 2015. The marketing effectiveness of social media in the
hotel industry: A comparison of Facebook and Twitter. Journal of Hospitality &
Tourism Research. 39(2). pp.147-169.
Parente, D. and Strausbaugh - Hutchinson, K., 2014.Advertising campaign strategy: A guide to
marketing communication plans. Cengage Learning.
Risselada, H., Verhoef, P.C. and Bijmolt, T.H., 2014. Dynamic effects of social influence and
direct marketing on the adoption of high-technology products. Journal of
Marketing.78(2). pp.52-68.
Schulze, C., Schöler, L. and Skiera, B., 2014. Not all fun and games: Viral marketing for
utilitarian products. Journal of Marketing. 78(1). pp.1-19.
Xu, Z., Frankwick, G.L. and Ramirez, E., 2016. Effects of big data analytics and traditional
marketing analytics on new product success: A knowledge fusion perspective. Journal
of Business Research. 69(5). pp.1562-1566.
Zeithaml, V.A., Bitner, M.J. and Gremler, D.D., 2014.Marketing de Serviços-: A Empresa com
Foco no Cliente. AMGH Editora.
Online
Food & Beverages, 2019, [Online]. Available through:
<https://www.statista.com/outlook/253/107/food-beverages/australia#market-globalRevenue>
Introduction to PESTLE analysis [Online]. Available through: <http://www.free-management-
ebooks.com/faqst/pestle-01.htm>
Youthinc, 2016, [Online]. Available through: <https://youthincmag.com/swot-analysis>
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