MKT600 Marketing Plan Report: Boost Juice Case Study Analysis

This report presents a comprehensive marketing plan for Boost Juice, analyzing its strategies within the competitive fruit juice market. It begins with an introduction emphasizing the importance of marketing in a globalized economy and highlights the company's business-to-consumer approach. The report delves into Boost Juice's marketing strategy, including target market determination, market segmentation (demographic, geographic, psychographic, and behavioral), and product positioning, particularly focusing on product characteristics and pricing. The report also examines the marketing mix variables, including product and services, place, price, promotion, physical evidence, process, and people, emphasizing the significance of relationship marketing and the extended marketing mix for customer satisfaction and loyalty. The analysis provides insights into how Boost Juice aims to expand its market reach and maintain its brand image through various marketing efforts.

Running Head: Marketing plan for Boost Juice
Market Strategy Report
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Running Head: Marketing plan for Boost Juice
Table of Contents
Introduction...........................................................................................................................................3
1. Marketing strategy.........................................................................................................................4
2. Marketing mix variables................................................................................................................8
Conclusion...........................................................................................................................................12
References...........................................................................................................................................13
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Running Head: Marketing plan for Boost Juice
Introduction
Managing a business is no more an easy task in the era of globalised markets in the world
economy. Moreover, with the progress of time, this has become highly complicated and
difficult as competition in the industry remains as a risk factor in the path of stability.
Importance of marketing in this context renders the highest value to a company which can
turn out to be the most successful organisation in the given sector. Marketing strategies are
inseparable elements of marketing and based on effective strategies the possibility of
products’ acceptance in markets become high (Fahy & Jobber, 2015). This report highlights
the marketing strategies of Boost Juice that is known for selling fruit juices for its customers.
Based in Adelaide of South Australia the brand is known for its wonderful flavours and tastes
of fruit juices. The core component of the marketing plan of the company is to undertake
activities based on the pattern of business to consumer basis of marketing. In case the
business plans an expansion there are some aspects that need to be considered and these are
competition, loyal consumers in markets and favourable and unfavourable marketing
environment (Baker, 2014). In this report, the marketing plan of Boost Juice has been
discussed which will shed knowledge on business positioning and marketing mix strategies of
the company in the competitive industry.
1. Marketing strategy
Boost Juice is set to take a big leap for promoting its product not only to the brand loyalists
but also the new set of customers. In this search of fulfilment of the aim, the company is all
set to follow the business to consumer based marketing policy. The congenial setting of this
planning would be to consider the preferred elements of product popularity and customer
loyalty within its marketing ambit. Based on its marketing vision, both the aspects of
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Running Head: Marketing plan for Boost Juice
products advertising for capturing wider markets and relationship marketing are significant
grounds of marketing strategies of the firm. Therefore determination of target market and
market segmentation, relevant positioning strategy of the company can achieve a
commendable performance of marketing (Peck et al, 2013). Price and products variants and
qualities play important roles for any business in a given competitive industry. This requires
the firm to adopt marketing mix strategies for ensuring that the final goal of business is worth
accomplishing (Morgan, Katsikeas & Vorhies, 2012, pp. 271-289). The proposed marketing
strategy of Boost Juice to achieve growth and more expansion in markets is given hereunder:
Target market and market segmentation
Target market and segmentation although different are connected internally and create an
effective marketing mix. For Boost Juice, target market determination depends on market
segmentation which is helpful for understanding the existing and potential customers in
markets. This makes the following task relatively easy for Boost Juice and products offering
could be aimed to new as well as potential customers.
The target market of Boost Juice is of two types - the existing customers who are loyal to the
brand and the new or potential consumers of competitors in the industry. For ensuring wider
acceptance and selling of products the company must look for an enhanced proposition of
quality in its products for every customer regardless of their ages. Moreover, the making of
dietary and low sugar juices followed by proper levels of advertisements can earn the firm the
expected volume of sales (Chaffey & Smith, 2013). This keeps attention on growing and
changing lifestyles of many Australians who are fond of dietary juices. The company
considers the overall demand of the juice among the high-income segment consumers.
However, considering the growing level of competition in the market Boost Juice looks to
understand the perception of customers regarding the types of juices and other related
products offered by the brand. Although price as a factor does not play as a catalyst for the
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Running Head: Marketing plan for Boost Juice
firm it seems important to attract more customers by offering products at competitive prices
to defend competition in the industry (Argenti, 2018). If the brand can realize that the low-
priced product offering does not adversely affect the consumer perception then for long term
success in the market competitive pricing strategies can be adopted. Therefore, Boost Juice
for achieving a marked shift in its success plan needs to understand several aspects before
determining the target consumers of its products. Target customers of Boost Juice thus are
characterized with some qualities. They are less price sensitive, educated and health
conscious, they are children and adults, attached to competitors’ brands as well as existing
loyal customers. Boost Juice puts stress on relationship marketing and this can be achieved
by developing cordial rapport with existing customers in the markets. This is helpful to
spread product awareness among many others and the firm can achieve word of mouth
publicity and expedite product sales (Dibrell, Craig & Neubaum, 2014, pp.2000-2007).
This is fairly understandable that knowledge about the target market for Boost Juice is
complemented by market segmentation which includes some strategies which are mentioned
below:
Demographic segmentation - based on this parameter the firm determines its target
customers according to age, socio-economic status, education and awareness. All these
factors have an effect on the success of marketing and products acceptance. Thus their
analysis supported by better knowledge would always be of great help for Boost Juice in the
industry. Moreover, pricing and advertisement strategies are also influenced by these factors
of demographic segmentation (Ferrell & Hartline, 2012).
Geographic segmentation - Being a simple form of segmentation, this can help the firm to
achieve knowledge about the geographic location of customers and their specific needs and
demands supported by ethnicity of the particular locality wherein target customers are
located.
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Running Head: Marketing plan for Boost Juice
Psychographic segmentation - this could be beneficial for understanding the particular
personalities of customers and their interests and values. These features influence buying
behaviours and lifestyles of consumers and as a result, the firm can understand them better
and can reach out to them with suitable product offerings along with pricing strategy that is
suitable and helpful for achieving the expected volume of sales (Johnston & Bate, 2013).
Behavioural segmentation - for understanding the specific pattern of behaviour of
consumers Boost Juice can adopt this segmentation strategy as well. If the firm understands
the corresponding purchase decisions out of the particular behavioural pattern then better
results in terms of sales can be achieved. This additionally helps the firm for incorporating
new strategies related to products for ensuring more credibility and achievement of expected
sales volume (Mullins et al,2013).
Positioning theory
Positioning theory is a social constructionist approach which started to get developed in 1980
in the discipline of gender study. This embraces the idea that not each individual in a social
format similarly accesses to duties and privilege for performing relevant duties with those
individuals at a particular period. Knowledge of constructing social authenticity enables
individuals to construct more deliberately to maintain standards for ensuring that expectations
are built and met with (Jain et al, 2012).
With regard to marketing, positioning is a process of ensuring brand acceptance among
customers. There are several strategies of positioning and these are product characteristics
utilisation, pricing as a strategy, positioning strategy on basis of product process, positioning
based on cultural significance, positioning strategy based on existing competitors in markets,
positioning with help of advertisements (DONNELLY & Peter, 2012).
Recommended positioning approach of the business
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Running Head: Marketing plan for Boost Juice
For Boost Juice, the better and suitable approach of positions is likely to be the positioning as
per product characteristics and pricing. However, positioning approach on the basis of
existing competitors may not result in the achievement of additional market share. Instead, if
people or customers are convinced of the product usefulness e.g. the nutritional value, less
detrimental effect on health etc then maximum brand acceptability would be possible by the
company. The company is already aware of the less price sensitivity of its customers.
Therefore customers cannot be lured only by low pricing strategies. They would show
willingness only to accept the products such as drinks or smoothies if are compared with
other competitors. Not every form of advertisement can be beneficial for the company (Grant,
2016). Therefore the approach of positioning needs to be cost-effective and time-saving. The
strategy of social media advertisement is most suitable for the firm to achieve wider
awareness of the fruit juices and its nutritional value which could get the firm much expected
sales volume and growth in the competitive market. Social media advertisement could be
most helpful and cost-effective outreach tool as positioning approach for Boost Juice.
High quality
Fruit juices of Boost Juice Good packaged nutritional juices of the firm
Ice cream and others
Low price High price
Competitor brands
Low
Quality
Figure 01Positioning Map of Boost Juice
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Running Head: Marketing plan for Boost Juice
2. Marketing mix variables
Marketing mix always holds a significant position in the pack of relevant marketing
strategies. This strategy becomes most effective for a firm when the preceding tactics such as
targeting and market segmentation are flawless. For the firm like Boost Juice, the marketing
mix is a most significant component of a marketing plan for ensuring that product positioning
aim, needs of high brand perception, brand acceptance and objective of growth and sales
achievement are addressed (Morrison, 2013). A product like fruit juice and other associated
offerings such as smoothies are the important variants and accordingly, the firm expects to
roll on depending upon its product strengths in the industry. Extended marketing mix appears
to be most feasible for the company. Boost Juice is not only focused on its products and
quality maintenance but service quotient is also equally highlighted by the company to
establish and maintain market dominion. Nonetheless, the services are not on direct offer for
customers and this is quite implied in nature thus additionally helping the brand to achieve
customers’ satisfaction also referred to as customer services. This is proverbially the effective
relationship build-up process initiated by a company. For Boost Juice this helps the business
achieve the purpose of relationship marketing which results in long term development of
bonding between business and loyal customers. Thus in this context, the firm can implement
extended marketing mix elements also to justify its nature of products and business mission
for the long run (Terpstra, Foley & Sarathy, 2012). The additional elements like physical
evidence, people and process appear to be indistinguishable from the nature of process and
operation coupled with business mission that has been adopted by the company in the
competitive business. The important components of the marketing mix of the company must
be product and services, place, price, promotion, physical evidence, process and people.
These all are discussed below:
Products and services
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Running Head: Marketing plan for Boost Juice
Products and services play an immensely important role to enhance the success of brand
positioning. Additionally, overall brand perception and reliability improves. When usefulness
and distinct features are common with particular products and services then chances are high
for the customers to get increasingly attracted and display a marked willingness to try the
services and products. Boost Juice carries its fruit juices and other products in the smoothies
range with the help of service offering to customers during both the purchase and post-
purchase phase (Hübner, Kuhn & Sternbeck, 2013, pp.512-530). This is a fruitful step of the
firm to consolidate the activity of relationship marketing for addressing the aim of long term
relationship and loyalty development for the brand which in turn would ensure that the
buying process of the products is unhampered. This effort could be beneficial for the firm to
ensure a better position in the minds of customers who are not only existing and loyal but are
also consuming products of competitor brands.
Pricing
This is the most crucial element of the marketing mix. For Boost Juice pricing strategy does
not involve any concerns since customers or target customers of the firm are not much
sensitive to price. But the company needs to consider that when many contemporaries offer
close or similar types of products then pricing technique could become a major catalyst factor
for the firm (Weinstein, 2013). Customers can feel more motivated if the products cost less
than that of other brands. This achieves the possibility of positive responses of customers and
this reflects in their buying behaviour and the business stays benefitted. Keeping in mind the
importance of pricing as a factor of marketing mix the firm always keep the focus on keeping
the prices moderate without compromising the quality of fruit juices and the smoothies.
Distribution
The effort of making maximum availability of products such as fruit juices determines the
success of distribution. This positively shapes the perception of customers about the brand.
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Running Head: Marketing plan for Boost Juice
Timely availability of fruit juices and others at the time of need may replace the acceptance
and popularity of other leading brands of competitors in the same markets. Among all
elements of the marketing mix, ‘place’ is signified with the efficiency of distribution strength
of the products by the company to ensure availability of required products in maximum
places for benefits and conveniences of customers (Hrebiniak, 2013). Online product selling
and delivery can address demands among customers who do not find it convenient to visit
physical stores for purchasing the products.
Promotion
This holds maximum importance in marketing strategy along with ensuring the maximum
utility of the marketing plan. Perception value of products brings about the maximum
possibility of sales and revenue. Therefore customers’ engagement with the brand and their
positive feedbacks are important which can be possible to achieve through advertisements.
This creates awareness among new customers and among existing loyal customers. Positive
feedbacks spread faster and help in the attainment of maximum interest among customers
regarding products (Halinen, 2012). This situation creates a maximum possibility of sales of
products. Boost Juice may better opt for social media marketing which can prove to be faster
and cost saving as well as time-saving effort for ensuring the highest possibility of acceptance
of the brand.
Extended marketing mix
Extended marketing mix has an additional three ‘P’s which are physical evidence, people and
process. These no doubt if are positively emphasised by the firm then better response from
customers in terms of sales of products can be achieved.
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Running Head: Marketing plan for Boost Juice
Physical evidence - the products and service of Boost Juice need to be presented in such a
manner so that customers can feel the physical elements and the brand perception remains
higher. The firm apart from products and quality must consider the most advanced and
innovative type of packaging of fruit juice so that overall appeal and perception always stay
higher from the viewpoints of customers. This additional effort and consideration by the
company can help in brand positioning and promotion coupled with better shopping
experiences (Yeshin, 2012).
People - human resources are most significant assets in any firm and Boost Juice also is not
an exception. People are the staffs who keep the operation moving to help the business meet
the demands and expectations of customers. The business of the firm is dependent on two
major resources in the form of employees and customers.
Process - business adopts operations that are dependent on certain processes for keeping
production, customers’ services and other associated functions dynamic and functional. The
dynamic operations of the firm are supported by a meaningful and effective process that
establishes a common synchronisation among all departments (Yeshin, 2012).
Conclusion
This report has presented comprehensive details of the marketing plan which could be
adopted by the firm Boost Juice to enhance its market shares and growth. Targeting, market
segmentation and the extended marketing mix are the important strategies of marketing for
the firm to achieve growth. Product promotion and relationship marketing are the basis of a
marketing plan with business to consumer marketing initiative considered by the company.
Product qualities and not so high prices along with effective promotional strategies could
earn the firm better growth and credibility among customers in the market. This may help the
firm sustain its business among existing and future competition in the industry.
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Running Head: Marketing plan for Boost Juice
References
Argenti, J. (2018). Practical corporate planning. Routledge.
Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher
Education.
Chaffey, D., & Smith, P. R. (2013). eMarketing eXcellence: Planning and optimizing your
digital marketing. Routledge.
Dibrell, C., Craig, J. B., & Neubaum, D. O. (2014). Linking the formal strategic planning
process, planning flexibility, and innovativeness to firm performance. Journal of
Business Research, 67(9), 2000-2007.
DONNELLY, J. J. H., & Peter, J. P. (2012). Preface to marketing management. Mcgraw hill
higher education.
Fahy, J., & Jobber, D. (2015). Foundations of marketing. Routledge.
Ferrell, O. C., & Hartline, M. (2012). Marketing strategy, text and cases. Nelson Education.
Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John
Wiley & Sons.
Halinen, A. (2012). Relationship marketing in professional services: a study of agency-client
dynamics in the advertising sector. Routledge.
Hrebiniak, L. G. (2013). Making strategy work: Leading effective execution and change. FT
Press.
Hübner, A. H., Kuhn, H., & Sternbeck, M. G. (2013). Demand and supply chain planning in
grocery retail: an operations planning framework. International Journal of Retail &
Distribution Management, 41(7), 512-530.
Jain, S., Haley, G., Voola, R., & Wickham, M. D. (2012). Marketing: Planning and strategy.
FT Press.
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