Strategic Marketing: Adaption and Standardisation of Marketing Mix, Integrated Communication Mix and Methods, and Measurement of Success for Yumi Nutrition

This report discusses the strategic marketing approach for Yumi Nutrition, covering topics such as adaption and standardisation of marketing mix, integrated communication mix and methods, and measurement of success. The report includes an executive summary, introduction, and main body that covers the CBBE model, product, price, place, promotion, physical, people, and process. The report concludes with references.

MG624 Strategic
Marketing

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
ADAPTATION AND STANDARDISATION OF MARKETING MIX.......................................1
INTEGRATED COMMUNICATION MIX AND METHODS......................................................4
MEASUREMENT OF SUCCESS...................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

EXECUTIVE SUMMARY
Strategic marketing aids to fix the appropriate price for firm’s products or service depend upon
the information accumulated through market research. Moreover, marketing mix is also
performed to successfully promote their products and services. Additionally, Integrated
communication mix is helpful for Yumi nutrition as within assistance of this they may able to
deliver a unified message about their new products into new place to end users by several
channels and grabs the attention of huge customers.
INTRODUCTION
Strategic marketing is considered as the use of marketing disciplines to attain organisational
objectives through formulating as well as maintaining a sustainable competitive edge. Moreover,
these address higher level considerations like what markets to target, which facilities to provide
and how to price as well as promote them. This is helpful is identifying the areas which impacted
through organisational development and thereby assists in developing a business plan for
catering towards consumer requirements. Additionally, it aids to fix the appropriate price for
firm’s products or service depends upon the information accumulated through market research.
The company undertaken for this report is to Yumi nutrition which is a British supplement
facilitating brand that provides chewable supplements of different categories within United
Kingdom in year 2017. The topics which are going to be discussed in this report are Adaption
and standardisation of marketing mix, CBBE Model, integrated communication mix and
methods. Moreover, the measurement of success is also discussed in this report.
MAIN BODY
ADAPTATION AND STANDARDISATION OF MARKETING MIX
Yumi Nutrition is looking forward to make expansion of their business in other European
countries. In this the selected country is Estonia in which company will be introducing their the
immunity support vitamin C product. Respective organisation is a British supplement providing
brand which offer chewable supplement of different categories and operating the operations in
the provinces of United Kingdom. In order to enhance their growth and market share respective
organisation is looking forward to innovate their products in a well defined and effective manner.
The company is also significantly planning to expand their business in which they will provide
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their immunity support vitamin C product/ tablets. It has been identified that this country is
having free trade policy which will significantly help organisation to make successful expansion.
Furthermore, it has been identified that after the outbreak of covid-19 individual individuals in
respective country become more health conscious. This offer significant opportunity for
company to provide their immunity booster new product of Vitamin C supplement and assure
overall success. However in this company is required to make their entry by evaluating different
elements of marketing mix in order to successfully promote their products and services
mentioned below in-depth analysis of the marketing mix is given:
Product:
Yumi Nutrition, will offer their new product Vitamin C supplement. The specification of this
supplement is vegan and gluten-free products that eliminate the side effects on the fat generation
of the body. This supplement product is suitable for adults and children. Furthermore, This
company has targeted the interest of the customer regarding the preferences of the immunity
booster herbal products
Price:
Price plays important role for organisation who are making expansion of their business. In this
with the help of cost effective pricing techniques and evaluating competition market condition
Yumi Nutrition, focus on cost and quality of product. Company will generate revenue in this
respective organisation with the help of their financial goals and matching the reality of
marketplace and consumer buying trends will offer their products. In terms with Vitamin C
supplement company will offer a new product in affordable market segment. Organisation also
analyse external variable such as economic fluctuations, trade tariff and political fluctuation and
will offer their product in affordable pricing segment to overcome local competition.
Place:
Yumi Nutrition will offer their Vitamin C supplement in the market segment of Estonia. In
addition to this, it has been underlined that the 18 to 40 age group is identified as the
psychographic segmentation that facilitates Yumi Nutrition for increasing earning revenue of
20% along with establishing their business.
Promotion:
In order to successfully launch their new product Yumi Nutrition with the help of undertaking
use of promotional programs taking advantage of social media marketing on YouTube or
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Facebook. This will help them to attract wide range of audience. In this global market Yumi
Nutrition to place their product will undertake use of their marketing budget in which integrated
marketing communication will be utilised to enhance overall efficiency and reduce promotional
cost. Promotion plays important role for organisation and it is a significant elements of
marketing mix which enable company who is looking forward to expand globally to send
message in cost effective techniques.In this with the help of engaging in uniform marketing
practices and promoting brand with the help of social media marketing company will promote
their product.In addition to this organisation will also emphasize upon religious belief and local
language and will collaborate with local marketers in order to promote their products and
services.
Yumi Nutrition in order to promote their new product will target consumers and people in the
new market segment with the help of communication as a constant message technique in order to
promote their brand.Along with this with the help of having deep understanding of cultural
differences and help of web monitoring and tracking tools organisation will gain insight into
consumer behaviour in both offline and offline manner.Furthermore, with the help of social
networking site and personalization featuresYumi Nutrition will target interest of consumer.
Physical:
Due to the outbreak of covid-19 Yumi Nutrition will mainly emphasise upon offering their new
immunity boost product with the help of online stores with less physical stores. In this company
will focus upon clean and hygienic place to attract consumers.It is essential for organisation to
place their product successfully in a market segment to assure overall success.In order to expand
in a global market there are a number of challenges that company can face in this regardless of
all these challenges with the help of successful placement strategy company can place their
product.In this organisation will distribute their products while identifying the needs and
demands of target market.In this company with the help of customising their placement strategy
for local market of Estonia can gain competitive advantage.
People:
With the help of undertaking advantage of providing employment opportunity to people Yumi
Nutrition will undertake use of skilled and efficient employees and will also undertake use of
providing different benefits to workers in order to gain their loyalty.This will help organisation
to satisfy needs of consumers.
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Process:
In order to enhance successful expansion effectiveness Yumi Nutrition will and take advantage
of keeping their consumers happy.In this company will undertake use of speedy delivery services
and building services in their both offline and online stores.Company will employ competent
staff in order to address consumers at issues grievances and provide them advices and
satisfaction accordingly.
INTEGRATED COMMUNICATION MIX AND METHODS
Integrated communication mix is considered as an approach to plan communicate which
provides the business potential to obtain effective outcomes form its campaigns as well as
minimise the cost of marketing. Moreover, instead of relying upon individuals marketing efforts
such as print and campaigns, an integrated approach simultaneously develops the effectual
utilisation of various channels that are available to modern business. in addition to this, through
integrated tools like direct mail, social media, sales promotion and many others provides firm a
clarity, consistency and more communication affects. This is helpful for Yumi nutrition as within
assistance of this they may able to deliver a unified message about their new products into new
place to end users by several channels and grabs the attention of huge customers.
Importance of Integrated marketing mix
Creative consistency throughout channels: Within an integrated campaign, the various tools
feature likewise creative treatment. moreover, through the headline, the main phases and images
into every communications, the firm assure that aspects and clients receives consistent message
all time which is helpful in seeing one of the elements of the campaigns. So, this helps Yumi
Nutrition to create effective awareness about their newly introduce product such as Yumi
Immunity Support Vitamin C within Estonia. Through reinforcing the basic campaign themes of
new introducing products enhances various prospects of similar message. Also, through working
consistently with aids of different channels respective firm may effectively create awareness of
its business new launching products.
Overall cost savings: Creative consistency into firm’s integrated campaigns may also save costs.
Moreover, through utilising the similar images as well as adapting the similar copy for various
media, respective company can minimise the copy writing, photography, designs costs. Also,
expensive video production output, they may utilise into multiple media such as television, You
tube and facebooks etc.
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Methods:
Public Relation
Public relation is one of the essential marketing communication tool as it is the procedure to
maintain a favorable reputation as well as develop advantageous relations among firm as well as
public communities, groups and individuals they serves. With assistance of this tool, Yumi
Nutrition may develop their image of brand within marketplace. Additionally, the maintaining
public relation with influential individuals across the sector is effective tool for growing its
business. in addition to this, utilizing respective marketing communication tool at appropriate
time as well as in front of right person may aids them to enhance sales efficiently
Content Marketing
Content marketing is also considered to be the essential marketing communication tools which
are utilized to grab the attention, engage and retain customers through developing as well as
sharing effective article, podcast, video and many more. Respective methods assists Yumi
Nutrition to develop expertise, promote brand awareness, and keep their business on top of mind
when it is the time to purchase what they sell.
MEASUREMENT OF SUCCESS
For measuring the success of its new product Yumi Nutrition can consider following aspects
such as:
Sales target: Sales target is undertaken as the number of goods they required to sell and develop
an expected profitability. This is helpful in measuring current sales revenue and compares that
with past performance. The sales target may set whether monetary value, number of units sold
and others. So, respective organisation may measure their new products sales through monitoring
the performance against the targeted one.
Market share: Market share represents the percentage of a market’s overall sales which is gained
through specific firm over particular time duration. This is much essential metric that firms may
utilise for judging the effectiveness of any potential revenues that generates profitability. This
help Yumi nutrition to measure their success as it aids to judge the efficiency of potential
incomes which produce profits.
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CONCLUSION
As per the above report, it has been concluded that strategic marketing plays vital role in
organisation. It is so this is helpful is identifying the areas which impacted through
organisational development and thereby assists in developing a business plan for catering
towards consumer requirements.
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REFERENCES
Books & Journals
Alsem, K.J., 2019. Applied strategic marketing: a step by step approach. Routledge.
Beirman, D., 2020. Restoring tourism destinations in crisis: A strategic marketing approach.
Routledge.
Campbell, C. and Farrell, J.R., 2020. More than meets the eye: The functional components
underlying influencer marketing. Business Horizons, 63(4), pp.469-479.
Chernev, A., 2019. Strategic marketing management: Theory and practice. Cerebellum Press.
Sahaf, M.A., 2019. Strategic marketing: making decisions for strategic advantage. PHI Learning
Pvt. Ltd..
Schiavone, F. and Simoni, M., 2019. Strategic marketing approaches for the diffusion of
innovation in highly regulated industrial markets: the value of market access. Journal of
Business & Industrial Marketing.
Shukla, P.S., A Strategic Marketing Approach.
Stone, M., Aravopoulou, E., Ekinci, Y., Evans, G., Hobbs, M., Labib, A., Laughlin, P.,
Machtynger, J. and Machtynger, L., 2020. Artificial intelligence (AI) in strategic
marketing decision-making: a research agenda. The Bottom Line.
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