Booster Juice Smoothies: A Marketing Mix Analysis for Enhanced Growth

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Desklib provides past papers and solved assignments for students. This report analyzes Booster Juice's marketing mix.
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MARKETING MIX ANALYSIS
Marketing Mix Analysis
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MARKETING MIX ANALYSIS
Contents
Introduction....................................................................................................................................3
Differentiation from Competitors and Brand Equity.....................................................................6
Pricing Strategy..............................................................................................................................7
Promotion Strategy........................................................................................................................9
Conclusion and Recommendation...............................................................................................12
References....................................................................................................................................14
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MARKETING MIX ANALYSIS
Introduction
Booster Juice is the largest Canadian chain for fresh juices and smoothies bars. The business
and franchises are owned by Dale Wishewan who is the current president and CEO for the
business. Booster Juice is one of the oldest juice chains providing services in different parts of
Canada. The organization is spectacularly popular in all the age sections of the market of
Canada. The fresh juice chain is popular to provide with smoothies made of pure juice, fruit
sorbet, vanilla frozen yogurt, frozen fruit, fresh yogurt and ice desserts (Booster Juice, 2019).
The organization set up a historical record of opening 50 stores in the first two operating years
of the business. The business has drastically gained popularity not only in regional areas but in
international markets. The business has franchised stores in India, Dubai, United States, and
Mexico.
The product line which has been chosen to analyze in this report is the Booster Smoothies. The
smoothies provided by Booster Juice are popular due to the exceptional mix of nutritional
values and taste provided in the smoothies. The smoothies are a well-developed mix of a
healthy alternative to snacks and fat adding quick bites (Booster Juice, 2019). The smoothies
are offered in nature of low fat and low sugar components. Booster Juice has a goal of
instilling healthy and fat-free eating habits within the consumers. The smoothies are provided
in different flavors such as Banana, Berries, Yogurt, Pineapples, and Chocolates etc.
Product: Booster Juice is dealing in different products and smoothies provided by the
business are extremely popular in the identified target market. Smoothies provided are a good
blend mixture of nutritional values and tastes for the consumers. The smoothies are developed
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as a healthy alternative to unhealthy and quick bites. Smoothies are naturally sourced and
crafted healthy drinks provided in the options of sugar-free and fat-free variants.
Price: The smoothies are priced as an active instrument to accomplish the marketing
objectives and aims of the business. The prices of smoothies are defined as pertaining to the
marketing objectives in the set time frame and according to the organizational aims and
objectives of the business ((Booster Juice, 2019). Booster Juice has applied this strategy in the
smoothies to accomplish the target levels of the market and undertake effective development
of the products.
Place: The smoothies and other products are providing at the stores established in the regional
and traditional stores of the company all over Canada. The stores are designed and established
in an attractive manner to support for attracting more consumers and potential markets. The
stores are also aligned in the regional, urban and central areas to support for a proper
distribution and supply channel of the products.
Promotion: The business applies for consumer product trials and consumer feedbacks as a
promotional and marketing strategy of the business. The stores are centrally and widely
located in different areas of Canada which supports for the promotional and marketing
purposes of the business (Laudon & Traver, 2016). The stores provide with trials of the
products to the consumers free of costs that have supported for word of mouth and popularity
of the products. The stores also function on the promotional strategies of digital marketing and
street marketing by holding up banners and hordes.
Product Strategy
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According to the Product Classification Theory, there are various segments on the basis of
which products developed by a business or a firm can be classified and identified. The Product
Classification Theory basically divides the products on four different such as Convenience
Products, Shopping Products, Specialty Products, and Consumer products. The convince
products are products are the consumer goods purchased as per convince of the purchasers.
These are the products purchased with little investment of time and money (Duchessi &
Lauría, 2013, para 3, pp.5822-5829). These are routine products and purchased to satisfy the
regular needs and demands of the consumers. The shopping products are products purchased
by consumers with a significant amount of time and money invested. Consumers often indulge
in the process of comparison for such products and regard towards identifying the differences
in two or more products.
Specialty Products are the prime choice and requirements of the consumers. These are the
product for which no substitute or alternative is not considered by the purchaser. The specialty
products are the preference of the consumers based on their choices and likeness towards the
products. Branding plays a major role in defining such specialty products. Consumer Products
are based on the type of the end user of the products. If the end user of the product is a
consumer and consumes the product to satisfy the personal needs and requirements then the
product is classified as a consumer product. If the product is used by a business for further
reselling then the product is classified as a business product.
The smoothies developed by Booster Juice are classified as Shopping Products. These are
classified as shopping products as the consumer invests some amount of time and money in
selecting the product and making a final purchase. As there is competition in the market the
consumers are provided with varieties of similar products to chose from different segments.
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The product is at the growth stage where the business is observing significant growth and
development in sales. In the growth stage, the product identifies with maintaining the quality
of products and adding invariants or differences in features to boost up with the demands of
the products (Abratt & Kleyn, 2012, para 5, pp.1048-1063). The branding strategy used by
Booster juice is indulging in digital marketing and developing a digital brand that supports
cost-effective and multiplied sources of marketing. The business has strategically aligned with
digital forms of marketing and branding to support increased sales and identified target
market. Digital branding is a 21st-century form of marketing which supports for high
penetration in the market through an aggressive online presence. The company is also
implying sources of digital branding through generating online profiles and pages for the
company to mark a greater online presence. The company is highly active in different portals
and social media handles. Another branding strategy that is used by Booster Juice to develop
the products is Attitude Branding. In this strategy, the business customizes and personalizes
the products and services to satisfy the diversified needs and requirements of consumers.
Differentiation from Competitors and Brand Equity
The products and smoothies provided at Booster Juice is different from the competitors. The
company has the aim of instilling healthy eating practices in the population of Canada. The
company, therefore, develops products that are healthy alternative from unhealthy snacks and
drinks. The smoothies are a perfect blend of nutritional ingredients and tasty combination of
fruits. The ingredients of smoothies include fresh fruits, yogurt, and ice. The smoothies are
developed form fresh and ingrown local farms of the suppliers. The products are developed to
develop an active lifestyle in consumers by supporting a healthy mix of fruits and food items.
The competitors in the market often lack the ability to provide with customizable dink packs
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or family packs to support personalized choices and preferences of the consumers (Govers &
Go, 2016). Booster Juice has developed a market reputation as a consumer-friendly
organization that is able to develop different products as per the needs and requirements of the
consumers. The company has developed different family packs and value packs along with
personalized options for smoothies to support for different choices and preferences of the
consumers. Booster Juice also specializes in providing sugar-free and fat-free healthy
alternatives to the consumers.
Brand Equity
The business and operations of Booster Juice have developed an image of consumer-friendly
and environment-friendly organization. The business has a reputation for environment-friendly
work operations that support for developing brand equity. The mission of Booster Juice is to
provide with such products and services that establish for long-lasting customer relationships
in a healthy and safe environment (Londhe, 2014, para 2, pp.335-340). The business has also
received different awards and recognition for developing customer relations and business
progress in a sustainable manner. The brand equity provided by the company has supported for
successive development of the firm and its operations. Consumers have developed loyalty over
the brand provided with the features of great consumer experience and satisfaction.
Pricing Strategy
Pricing strategy
The term pricing strategy entails with the method that use to price their products or services. It
takes into account segments, ability to pay, trade margins, competitors’ actions, market
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conditions etc. Companies set their pricing strategies with an aim to enhance sales and
profitability via selling their goods or services in the target market. Hence, while deciding
pricing strategy, it is essential for organizations to conduct market research and analyze certain
trends which may affect profits in a direct and indirect manner. Booster Juice is the largest
chain of golden and fresh juice as well as smoothies’ bars. With an aim to ensure its current
market presence, it is essential for companies to maintain their prices; it leads to attaining and
retaining customers for long-run.
Hence, there are several pricing strategies acquired by Booster Juice such as –
Penetration pricing strategy – Under this pricing strategy, firms' typically sets low prices of its
goods and services with the aim of enhancing market share that would be the percentage of its
total sales. Usually, penetration pricing is acquired by the organization in order to attain and
retain customers (Zhang, et al., 2014, Pp –5299, Para - 3).
Price Skimming strategy – In this pricing strategy, a firm sets higher prices so as to cover up
all expenditures involved in manufacturing and advertising rapidly. The main aim of price
skimming strategy is to obtain higher profitability in a certain period.
Premium pricing – Usually, this pricing strategy is acquired while firms want to charge higher
prices rather than its competitors. Premium pricing develops perception as the product has a
higher value than its competing products.
Competitive based pricing – Organizations usually adopt this pricing strategy in order to meet
competitors’ prices. A competitive-based pricing strategy is employed while there is little
difference in products of industry.
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For example – Smoothies is one of the popular products of Booster Juice; it is loved by so
many people in Canada. Hence, as per the country's values, the organization keeps in mind that
the customers of the nation are ready to pay the higher cost of a product as they are more
concern about eating and healthy habits. In this sense, the prices of smoothies offered by the
company start from $49.50 and get higher by the number of ingredients involved it in.
Manager of Booster Juice states that we believe in providing products at lowest possible to our
customers by putting good quality it in; as the raw materials are used in product manufacturing
enables to attain and retain people for the long run. After getting know the prices of given
product of Booster Juice, it is overviewed that the pricing policy of the company is much
effective than its competitors; prices of its all of products are reasonable and affordable by all
types of people especially for those are health conscious (Jiang, et. al., 2014, Pp – 28, Para -
5). In addition to this, pricing of Booster Juice is equal to market competition; it means this
helps the organization to acquire a highly competitive edge in a certain period.
Hence, at last, the pricing strategy of Booster Juice entails targeting audiences offering good
quality food items at affordable prices. As the costs of the product get raised by ingredients
and quantity; due to their psychographic nature customers are also ready to pay higher rates of
healthy products or services. Furthermore, several costs are involved in the pricing strategy of
a company, i.e. fixed and direct costs which assist in setting the right price of products and
increase the chance of being successful in the target market. The pricing strategy of Booster
Juice also communicates to customers' that product contains healthy and fresh raw material as
well as also deliver health outcomes to customers if they consume it. The business
organization has adopted a competitive-based pricing strategy which also appeals to
customers' that all products of the company are much effective than market rivals. Therefore,
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having an imperative pricing strategy would be supportive of the organization to achieve its
desired goals and objectives as well as enhance sales in the required manner.
Promotion Strategy
The promotion strategy currently used by Booster Juice is a mix of traditional and digital
marketing communication. The traditional marketing communication strategy uses traditional
methods and approaches to promote and communicate the products of the company towards
the consumers and identified target market. The company uses traditional approaches and
strategies of advertisement and sales promotion to communicate and market with the
consumers in the market. The marketing communication of traditional approach provides for
cost saving and increased returns on the cost investments (Singh, 2012, para 4, pp. 40-45). The
marketing communication strategy which is also applied by Booster Juice is communicating
and exchanging information with the consumers and the external shareholders through the
development of a website. The company is currently communicating with the channels of a
website on which the menu of the company is displayed. The business is not currently
providing online delivery services and home delivery service of the products. The website is
used to display new additions to the menu and displays any upcoming events or collaborations
that the business will undertake in the future. The business also applies the strategies of social
media through which it communicates about the feedback of the products and services. The
company undertakes communication with the consumers through the social media pages and
rolls out emails and memo towards the consumers to information about the products and
significant company activity. The company supports for grab and go business concept which
provides for ordering the products online and picking up the products hours later or at a
specific time duration as per the convince of the consumers.
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The company also offers gift cards and vouchers to the consumers to support promotional
activities and promotional cards. The company undertakes promotion by collaborating in
different events and programs and distributes the gift cards and promotional vouchers towards
the public. The online channels of communication are also applied by Booster Juice to support
effective communication and marketing with the consumers (Gordon, 2012, para 3, pp.122-
126). The company indulges in the activities of tweeting, video sharing and blogging to
establish an online presence and connection with the consumers. The company is currently
using a traditional approach of advertisement in print and digital media. The company is
undertaking an advertisement on television, websites and YouTube videos. The airing of
commercial advertisement has aided to develop a mark in the industry and awareness in the
consumers. The company indulges in developing product camp gains and company programs
to launch new products in the market. The marketing and communication strategy of Booster
Juice is effective to mix of traditional and digital portals of communication.
The company depicts its products as a healthy and nutritious alternative to unhealthy snacking
and munching of unnecessary products to suffice the hunger. The online website and pages of
the company often post video and pictures that depict the nutritional values of the products and
smoothies offered by the company. The website posts about the nutritional values of the
products and educates the consumers about the intake of calories and fats with the
consumption of each product. These online channels and mediums have aided the business to
develop a healthy and strategic reputation of the product. The company has been aided to
position the products as not just healthy but tasty alternatives to snacks and unhealthy snacking
(Gordon, 2012, para 3, pp.122-126). As the product line not only provides for smoothies and
drinks. The product line of Booster Juice includes for juices, yogurt desserts, fresh pulps, and
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eats. The products lines have also developed in the segment of diet special smoothies and diet
specific fresh juices.
The marketing and communication strategies and approaches used by Booster Juice are highly
effective as they have developed for stronger consumer relations and connections. The
company has developed an effective communication system with the consumers through the
application of online channels and website of the company (Gordon, 2012, para 3, pp.122-
126). The consumers have depicted Booster Juice as a consumer-friendly organist ion which
often indulges in fetching the feedback of consumers form the products and company
experience.
Conclusion and Recommendation
It is concluded from the above observations and discussions that the services and products of
Booster Juice should develop services of online ordering and delivery to doorsteps of the
consumers. The company is required to develop effective supply chain channels and systems
to ensure a higher quality of delivery for the products. The recommendations for the marketing
mix for Booster Juice are as follows:
Product: The smoothies must be developed in different other flavors that attracts the
consumers from different age sections. The company must focus to develop attractive and
delicious smoothies that attract kids in specific to the smoothies. This will develop for
increased consumer base for the company. In the current scenarios, it is witnessed that the
company has a large consumer base from the age group of 15 and above. Introducing flavors
more popular in children will attract an increased consumer base (Huang & Sarigöllü, 2014).
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