University Goldfish Cracker: Marketing Plan and Strategy Report

This report presents a comprehensive marketing plan for Pepperidge Farm's Goldfish crackers. It begins with an overview of the current market strategy, focusing on maintaining market share and expanding the product line. The report analyzes the target audience, including mothers, teenagers, ...Read More

Running Head: Gold Fish Marketing Plan
GOLDFISH MARKETING PLAN
Name of the Student
Name of the University
Authors Note

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Gold Fish Marketing Plan
Marketing Strategy
Pepperidge Farm's Goldfish Cracker was initially manufactured in Switzerland and sold
nationwide with different flavors. The market strategy for Pepperidge Goldfish focuses on
selling the existing product into existing markets to gain a higher market share. It has loyal
customers and doesn't have to do a lot of marketing because people know and enjoy the product.
Goldfish do not require a considerable investment to keep the revenue high because it is a very
popular product and enjoys the highest peak of the crackers market. It generally targets mother's
teenagers and children (Heath & Mace, 2017). As the product emphasizes the competitive
pricing industry and competitors with similar products, the goldfish cracker needs to extend its
product line into the market. The company gains a strong sales and increased market share. It has
many competitors in the market, such as Cheez-it, which manufactures similar cheese flavored
products. Goldfish crackers enhance to expand its market segment by targeting middle-aged
people of 35-55 years. The main focus of the product is to produce low fat, low carb, and vegan
products to maintain the taste of the product without compromising the health. As goldfish
cracker is famous among its loyal customer but to attract more number of customers towards the
product and retain its position in the market goldfish requires social media exposure and engage
more on digital marketing (Buffington, Fasano & O'Rourke, 2016). In the last five years, the
total sale of goldfish crackers is up to 17.6%; in near future company enhance its sales and
targets to achieve nearly about 40% more of the total existing sale. The cracker continues to
drive snacks and baked food growth behind a dual aspect to sustain strong core businesses and
extend to higher growth.

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Gold Fish Marketing Plan
Performance Evaluation and Monitoring
Goldfish crackers from Pepperidge Farms were among the most popular snack crackers in the
world, consumers consuming more than 85 billion Goldfish crackers per year. Pepperidge Farm
announced sales of Goldfish crackers were more than 5% within six months of the campaign's
launch. The Goldfish brand repositioned itself more effectively as a snack item for children. The
company stresses selling the product online, and the evaluation will be enhanced by focusing
much more on digital marketing and widen up its product to middle age consumers. The range
expanded with a variety of products, including Flavor Blasted Goldfish, Giant Goldfish, Baby
Goldfish, and Goldfish Colors, and many more (Sparks, 2017). The Goldfish brand's sales had
doubled to 280 million dollars and Goldfish had become the second leading cracker brand in the
US and abroad. Pepperidge Farm's goldfish cracker developed its market from the niche market
to the second most popular crackers. It gained a reputation in the market for quality products. By
the early 2000s, the company was engrossed more into kids section moving beyond the realm of
happy hour snacks, which include peanuts, pork rinds, and many more. The flavor of the product
changes as per the festive seasons, considers adding new flavor every year. After thorough
market research, the company experimented with its product and innovations made like products
with different other flavors or multi-colored snacks adding variants on the flavors with a new
exciting name or can offer a cheese dip with a box of goldfish cracker, or a twister in flavor like
two-in-one, sugar-salty taste and so on. Now it aims to focus on middle-aged groups and health-
conscious people by including vegan twists, a cracker with low fat, and so on, keeping the
relishes of the delicacy without compromising health. Currently, it aims to launch around 30
varieties of goldfish products and made available in the market through online and offline via
retail and distribution channels (Stangis & Smith, 2017). The major reason for the growth of

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Gold Fish Marketing Plan
Goldfish is that customers like evolution to healthier snacks in compared to other processed
foods. As it is healthy snacks include veggies, fruits, and munchies containing real cheese, whole
grain, and other natural ingredients. The demand for goldfish crackers has increased over the last
years.
Financial Information
Pepperidge's goldfish crackers underline renovating the emotion and introducing new
goldfish products variant to stores. The company expects to broaden the brand footprint through
a wide strategy by driving the current snacking portfolio, developing promising emerging
markets, creating new brands, and leveraging new resources to develop sustainable business
models. The estimate for such evaluation and introducing the new variant to the product, and it
also includes digital marketing and online exposure to the product, incurs a considerable cost to
the company. The cost and expense can be up to 13 million dollars in all other stuff of
production, marketing, and making the product available to the customer, and these are
associated with mark-to-market changes. Net revenues enhance to raise 890 billion dollars,
primarily due to high volume and increased promotional outgoings (Vivek, Beatty & Hazod,
2018). The Gross income of the company tends to rise in the future as the percentage of revenue
will show the hike from 34.9% to 38.8 %. Comparatively, compensation by higher supply chain
the costs and cost increase due to higher spending on advertising and R&D of the product. In
2019, the company displayed revenues of 178 million dollar Profits and after-tax losses of $116
million or $.38 per share. Net revenues rose 23% in 2019 and sales up to 107 billion due to
benefits gained from Snyder's Lance and Pacific Foods acquisitions in Oregon. The percentage
of revenue of the gross profit, which dropped from 35.9% the previous year up to 33.2%

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Gold Fish Marketing Plan
(Blakeman, 2018). The sale drop was mainly due to cost inflation and the higher cost of the
supply chain, and the dilutive effect of acquisitions, partly balanced by increased productivity.
Fig2: A financial overview of the company
Source: (Blakeman, 2018).

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Gold Fish Marketing Plan
Reference
Blakeman, R. (2018). Integrated marketing communication: creative strategy from idea to
implementation. Rowman & Littlefield.
Buffington, G., Fasano, S., & O'Rourke, J. S. (2016). Campbell soup company: Support for
mandatory GMO labeling. The Eugene D. Fanning Center for Business Communication,
Mendoza College of Business, University of Notre Dame.
Heath, D., & Mace, C. (2017). What' sa brand worth? Trademark protection, profits and
product quality. Working Paper, University of Utah.
Sparks, E. (2017). Boss Lady: How Three Women Entrepreneurs Built Successful Big Businesses
in the Mid-twentieth Century. UNC Press Books.
Stangis, D., & Smith, K. V. (Eds.). (2017). 21st century corporate citizenship: A practical guide
to delivering value to society and your business. Emerald Group Publishing.
Vivek, S. D., Beatty, S. E., & Hazod, M. (2018). If you build it right, They will engage: a study
of antecedent conditions of customer engagement. In Customer Engagement
Marketing (pp. 31-51). Palgrave Macmillan, Cham.