Discuss about the Analysis and evaluation of the key concepts and characteristics that are pertinent to the Boost Juice Marketing Strategy.
This report will evaluate how the company uses marketing tactics by analysing the 4Ps which are central to marketing mix. This evaluation will further breakdown to scrutinize the marketing tactics of Boost juice by 4Ps of marketing mix such as SWOT can help to decode its strength, faults, opportunities and risk of the company. The market situation can be understood by detailed examination of a competitor and the market and thus the Boost Juice Marketing Strategy can be understood as well.
Background Of The Company
Janine Allis established Boost Juice company in the year 2000, it is a retail chain of fresh juices from vegetables and fruits. The goal of the brand was to encourage people to lead a healthier lifestyle by providing healthy and beneficial foods to them. The company has grabbed a major part of the market in a short span of time with its creative products and services. As per the Boost Juice Marketing Strategy, Boost juice has entrenched its wings across the world with 350 stores and are operating in seventeen countries. Teenagers have taken most of the market piece and they are more conscious of their health. The company is trying to increase its operations and build its business consistently.
Obesity is a major problem in Australia and the children are mostly affected by it. 25% of the kids are fighting with obesity. Under the Boost Juice Marketing Strategy, Boost Juice has introduced fresh juice to motivate to lead a healthier life. Around 50% of the total customer of the company are those who are studying. 40% is occupied by parents and retailers and the rest is occupied by office executives of the company’s market piece. Due to the rise of obesity and being overweight people have also started to prefer healthier foods. A large amount of individual chooses fresh juices and 60% of it comprises of female, although Boost juice is trying to capture the men market by using 4Ps and also by introducing male products.
Boost juice has lot of products to fulfil the needs of its customers. The company’s products range from smoothies to bars. It has varied fruit juices, freshly made out of fruits and vegetables. They also have boosters, energy drink, protein drinks snacks etc. the most loved and selling product of the Boost Juice company is Boost juice bar and generated huge revenue for the company, freshly made from fruits and vegetables. And it provides a special experience to the customer. The flavours include mint condition, wild berry juice, immunity juice, veggie garden and a few more. Because of its nutritional value it attracts people who are looking for healthy foods.
The company has established own brand by providing exquisite customer service and offered creative products in the market. Although the company experiences competition, the main competitors of boost juice are Starbucks and Pulp juice. Viva juice has been aquired by Boost juice in the year 2004 in order to curb the competition from the firm. Starbucks company of coffee retain series and operates internationally around the globe. It is US company. Starbucks presents shakes, blends of coffee, snakes and other merchandise. It has developed a brand by providing premium pricing tactics and outstanding customer experience. It tried to conquer to Australian market by becoming successful but failed to do so because of its brand perception and partly also due to Boost Juice Marketing Strategy. It was considered haughty because of its high costs.
Another brand named Pulp juice is also known for offering fresh juice which consists very low fats and calories, could not make its stand in the competition due to lack of proper marketing tactics. Another rival of the company is Easy Way with its distinctive tea beverage.
Within just seven years of time Boost Juice has branched more than 200 retail stores in Australia. It offers various types of natural products throughout the country. They have developed a distinctive way to offer fresh and natural fruit and vegetable juices through its outlets. According to the Boost Juice Marketing Strategy, the brand make sure that the customer receives a wonderful experience on every time they pay visit to the stores by providing fresh blends of juice and with outstanding service.
The company’s retail outlets has been scattered across the countries like South Africa, Portugal, United kingdom, Germany, Hong Kong, and other countries to stretch its operations.
“Boost Mobile Van” has been introduced by Boost juice to more convenient and hence increasing its reach more customers.
Analysis by swot:
The study of Boost Juice through SWOT will help to understand robustness, faults and also will help us to evaluate market situation for more room for its growth under the Boost Juice Marketing Strategy.
Strength:The company has developed a way to offer natural and healthy juices with a distinctive customer service through its retail outlets. It has grabbed the market through its products and good services. And the brand is being recognised by the whole country. The products are 98% free from fat and promote a healthy lifestyle. It uses the marketing tactics in order to capture the attention of market. Furthermore, it has developed a good customer base through its good reputation.
The global markets of Hong Kong, Dubai, Germany and other foreign nations has been captured by Boost Juice by following the Boost Juice Marketing Strategy. It has developed a powerful way of engaging people by enquiring them through emails to know more in case of any inconvenience. The company has also developed a financial reliability with credible authorities. And company also developed licensing system to stretch the market worldwide and it has been done through good judgement.
Shortcomings: Owing to the Boost Juice Marketing Strategy, Boost juice spends large amount of sums to market itself. The company also has to maintain rules and regulation to function smoothly in global market to provide good quality products to the consumers. The products such as juices and smoothies have to be regulated safely as they prone to decay quickly. By broadening its product range from juices to smoothies it can increase the target customer and can attract more. Majority of the boost juice market comprises of teenagers and other customers of the company is adults. Office executives and professionals market are yet to explore. People tend to have juices on summer which effects the sales of the company in winter season. Lack of good management of its employees is another turn off for the company which ultimately effects the production. The making of the product needs time but customers don’t like to wait. There needs to be a little tweaking in the Boost Juice Marketing Strategy in order to facilitate the new challenges.
Opportunities: The company Boost juice has the ability to attract the Asian market. These markets are the booming economies. Using the advantages presented by the Boost Juice Marketing Strategy, the company can stretch its functions by growing its marketing tactics and using advertisements throughout. Moreover, Boost juice has introduced a wide range of merchandise to enlarge its sales in winter. Foods like sandwiches and pastries and beverage like hot drinks to get more and more consumer in winter and get its sales up.
Boost juice can use different sources to lower the marketing manufacturing costs. The company can use different methods to increase the sale by using mobile applications so that people can order online. The company has a great opportunity to increase its market geographically and produce more sales by having the control of distribution system.
Threats: The Boost Juice Marketing Strategy has certain drawbacks and shortcomings. Companies like Easy way, Starbucks, Pulp juice are the competitors that Boost juice faces competition with. The selling of the company products is harmed by the presence of packaged fruit juices and also by market situation like hiked interest rates fuel prices. As due to hike in rates and costs the earning of a consumer and ultimately affecting the sales. Because of the usage of products in the preparation of products Boost Juice faces difficulties globally.
Goals and objectives: “To become one of the world’s most famous and loved brands” has become the goal of Boost juice company. To capture interest of its consumers the company goes along with the philosophy of love life by combining juices and drinks. The marketing instructions aimed at are:
Main aim of the company is to serve a huge piece of the market by stretching its reach and increasing the age category of customers. The company is planning to expand its market share by 5% to 10% by introducing new merchandise and service and also plans to search new channels for customers to buy their product.
The 4ps: The 4Ps of the Boost Juice Marketing Strategy are of great importance which are product, place, promotion and price. The strategy of product aims to bring out the satisfactory merchandise for the consumer by disparity and market division. Price strategy is made to target a particular market share. Promotion is done to create a long-term connection with consumer. And place means site that is of immense importance for any retail business.
Product: The health condition has taken its toll over the Australian people. Most them fell prey of obesity. One -fourth of the affected population are children. The health conditions are deteriorating, giving rise to diabetes, cancer heart disease etc. A study showed that the main reason for weight gain lies in the diet plans of the people. Major part of the diet of Australian people consists of fat and sugar. The Australian government has taken necessary steps to create health awareness among its citizen. As a result people have started to get aware of their health that has increased the need of a healthy product. Boost juice understood and recognized the changing trend and assimilated these factors in the Boost Juice Marketing Strategy. Boost juice understood the need of the market and took advantage of the prevailing situation by introducing fresh juice made from fruits and veggies. The company brought many products into the market like fresh juice bars, energy drinks to name a few. They understood market very well and need of the customer. This fresh fruits and vegetable juices attracts a large number of people for its nutritional value and the juices are 98% free of fat. The company also gives the freedom to customer to customize their own product.
Price:To take stand against with the companies like Coca cola, Pepsi and many more the company Boost Juice was introduced. The rivalry among the soft drink market was immense as a result the health drinks had very small market size. The people were already devouring themselves with beverages and sugary juices which were very harmful for consumption before the company Boost juice came into existence. However, Janine Allis inaugurated Boost Juice and aimed for the market of people who drinks soft milk. To grab the attention of the market, the company developed the Boost Juice Marketing Strategy also known as the low cost leadership strategy which showed results in attracting large number of people towards fresh juice. The strategy is to provide the information to the consumer that Boost juice offers its product at lowest cost possible. And it showed remarkable results to grab the eyes of the people on a very short period. It’s difficult for any company to keep the prices low and also has to work hard to run the business without increasing its cost. Both the price and the product quality is being well maintained by the Boost juice company. Boost Juice has made the fresh juice available at such a cheap cost that people can buy it without having to look at the price. That helped to attract the market very quickly.
Place:In accordance to the Boost Juice Marketing Strategy, Boost juice company pays close attention to offer freshly made juices from fruits and vegetables so it has opened lots of retail outlets across the entire nation. The company functions on a franchising model. Boost Juice has branched out over 100 stores all over Australia within a very short period of time.
Promotion: Boost juice leaves no stone unturned in order to market or promote itself. They put large sums on advertising. Advertisements of products of boost Juice can be seen on t.v, internet, posters and can be heard on radio. This is the central idea of the Boost Juice Marketing Strategy.
Promotional offers are made by the company to boost its sales such as if a customer buys one product then they will get another one for free and unique offers for children for a particular event and other attractive offers. Boost juice has its own website with detailed explanation of about company, its products and its offers and lot more.
Boost Juice took the advantage of this digital age to connect with potential customers. The company has created a face book to showcase its products but also promotes newly introduced products. Australian people are fond of face book they spend most around 12 hours every weekend on it. Social media is of great help for any company to grow a customer base. The company has managed a place with good reputation in the market.
This report brings out the victorious implementation of the marketing tactics by Boost juice. Its main customer base is of teenagers and adults is its second. Although boost juice has rivalry with companies like pulp juice and Starbucks etc, it has managed to become the biggest retail series in the southern part of the globe. It can stretch itself operations and the Asian market. SWOT analysis threw light on its strength which it its brand reputation and creative products. 4Ps of marketing mix is used by the company. It has blended itself with the market and produces fresh juices according to the need of the market. Boost juice came into the market because there was a great need for healthy juice. In order to compete with soft drinks it use cost leadership strategy. The company uses various methods to increase its sales. Boost marketing strategy assignments are being prepared by our online marketing assignment help experts from top universities which let us to provide you a reliable assignment help online service.