Marketing Mix Elements of Boost Juice in Australia
The report helps in the entire analysis of different marketing techniques which are being used by Boost Juice Brand in Australia. The proper discussion of the marketing techniques used in Australia by Boost Juice will work in America as well. The cultural differences are required to be discussed which will help in influencing the marketing related decisions in both America and Australia as well.
Marketing techniques is the long term and forward-looking approach wherein the main approach is planning with the major fundamental goals of achieving the sustainable competitive advantage in the entire market. The marketing mix is required to be analysed in such a manner which has helped them in increasing their competitive advantage in the Australian market.
The marketing mix elements of Boost Juice are discussed as follows which are being followed in Australia:
Price is the first aspect in which brand Boost has recognized necessity of having the good pricy policy which helps in meeting the demands of the customers. The brand has several competitors in the market, however Boost Juice tried to capture the entire competitive market by maintaining the low prices and maintaining the quality of the product at the same time as well. The company has tried to offer the strong hold over the market by offering the economical kind of priced juices and this helps the brand in becoming effective (Demangeot, Broderick and Craig 2015).
Place is the other aspect in which this can be seen that Boost is the popular drink and they are the major kind of contributor towards the larger kind of figure of the sales. The distinct kind of policy of distribution has helped in providing the different products to the customers. The channel of supply is inclusive of sending products from the different manufacturers which will help in receiving in bulk kind of qualities. Furthermore, the Boost juice Brand is showing their presence in the different kinds of supermarkets, convenience stores along with department stores.
Promotion is the other aspect in which the brand has been able to gain huge popularity in the market which has helped them in becoming the most popular brands in the entire Australian market. Boost Juice has tried to develop promotion portfolio around the different sports and sports people as well. The company tries to promote the different products through different advertisements in social media and television as well.
Product is the last aspect wherein the product has positioned themselves as Vitaminized Energy-Fuel which has a unique kind of taste and preferences of malt with chocolate. There are different kinds of boost product ranges which helps the company in improving their overall effectiveness in the market of Australia.
Segmentation Strategies of Boost Juice
Segmentation is the aspect which helps the brand of Boost Juice to attract a specific group of customers. The company tries to segment along with choose the different age groups as their target market to achieve most effective kind of advertising technique and this helps in maximising the sales. This is a convenience kind of product and the company is currently in their maturity phase with the strong brand equity along with brand loyalty as well.
From the above section, this can be seen and analysed that there are different kinds of techniques of marketing which has been used in Australia and this will be working in America as well. From the above techniques, this can be analysed that the major techniques which can work in America are as follows:
Price is the first marketing mix aspect which can work in America as the company can enter into the American market by introducing the different economical pricing strategies which have helped them in becoming successful in the Australian market (Javalgi and La Toya 2015). While entering into the American market, this is essential for them to capture the market against the different other competitors in the market. Furthermore, the volume pricing policy which helped in penetrating the markets in Australian market effectively (Morschett, Schramm-Klein and Zentes, 2015).
Promotion is the other aspect in which this can be seen that the promotional activities wherein the advertising can be done through social media and television along with billboards in reaching the target customers. The promotional offers can do wonders for the brand while entering into the market of America and this will help them in surviving in the attracting a huge customer base. Apart from the different traditional promotional kind of activities, this will be beneficial for the success of the company in the overall market (Gomes, Sousa and Vendrell-Herrero 2017).
These are the different marketing techniques which can be used by the Boost Juice Brand in American Market which will be beneficial for them in gaining success in the overall market. The promotional and pricing techniques are mandatory which are required to be followed in order to become more famous in the market.
Figure 1: Hofstede’s Cultural Dimension
(Source: Stöttinger, Schlegelmilch and Zou 2015)
With the help of the Hofstede’s cultural dimension, this can be helpful in managing the different differences in an effective manner. There are different articles have helped in analysing that there are differences in the choice of the customers preferences in both the cultures.
Recommendations for Entering the American Market
Power Distance- This is the first aspect in which this can be seen that Australia scores low in the respective dimension wherein they have scored 36 and the communication is not powerful in the Australian society (Choi and Yeniyurt 2015). This creates a huge impact on the marketing decisions of the individuals in Australia as the customers preferences are different from one another and they are price conscious in nature (Papadopoulos and Heslop 2014).
On the other hand, the individuals in the American society are different and they have scored 40 in the respective perspective. This can be seen that the individuals are not price conscious and the preferences of the customers match with one another as well. This will be beneficial for Boost Juice in expanding their market effectively and gain more competitive advantage (Penz and Kirchler 2016).
Individualism is the other aspect in which Australia has scored 90 in the respective aspect and there are differences in the opinions of the individuals in the society. This affects the marketing related decisions which are being taken by individuals in Australia. Collectivism is essential in analysing the decisions related to marketing and this will be beneficial for the making the decisions related to marketing more effective. The individuals are highly individualistic in nature and this will be difficult for Boost Juice to receive success in the market (Samiee, Chabowski and Hult 2015).
On the other hand, the Americans are similar in nature like Australians wherein the score is 91 and they are similar in this respective approach. The collectivism plays a major role in the marketing related decisions in which this will benefit the market in managing the different decisions in an effective manner (Hult et al. 2018).
Masculinity is the aspect in which Australia has scored 61 and this indicates that it is inclined towards the masculine kind of individuals. The main concern in these countries are towards the savings along with the rate of spending in the society and this will help in managing the decisions related to marketing (Hakansson 2015).
Similarly, the same case is in America wherein they have scored 62 in the same approach in which the main concern of the society is towards the different kinds of savings which can be done by the individuals towards purchasing of different products and services (Vellas 2016).
Uncertainty Avoidance is the other aspect in which Australia has scored an intermediate score of 51. The individuals in the Australian society are less threatened towards the unknown kind of situations and this will help them in making the different decisions related to marketing. The Boost Juice Brand will be successful in their approach as the customers are not too threatened to take the different decisions related to the purchase of the juice.
Cultural Differences between Australia and America
On the other hand, America is very less threatened as the score is 46 and they are approachable in trying the different kinds of new dishes or products in the market without much issues.
Long term Orientation is the aspect in which Australia has scored 21 and this is a normative kind of culture. They are normative in thinking and they are able to take up different challenges which helped them in becoming more normative in the approach.
On the other hand, America has scored 26 and they are normative in nature as well wherein the decisions related to marketing are taken by them without much issues.
Indulgence is the last aspect in which Australia scored 71 and these kinds of individuals have the desire to purchase the different kinds of goods and services without much issues (Demangeot, Broderick and Craig 2015).
On the other hand, this can be seen that America has scored 68 and they have less desire in managing the different kinds of aspects related to marketing in the market.
There are different recommendations which can be provided to the Boost Juice Brand in order to launch their presence in the American market as well. With the implementation of the marketing mix and segmentation theories, this can be analysed that there are few strategies which is essential in nature in managing their presence in the American market. The different aspects which are required to be taken into considerations are as follows:
- Firstly, Boost Juice Brand needs to expand their business operations in America wherein they need to concentrate more on place and product range which will be beneficial for them to expand their presence The central location is required to be acquired by Boost Juice Brand which will be beneficial for them to become more successful in the market
- Secondly, segmentation is required to be ascertainedin an effective manner in which this can be seen that cultural barriers are required to be analysed in which this will be helpful in becoming more effective in meeting the demands of the different expectations effectively
- Lastly, the product range is required to be analysed in an efficient manner wherein Boost Juicer Brand needs to understand the purchasing power of the customersin the market and gain competitive advantage in the market as well.
References
Choi, J. and Yeniyurt, S., 2015. Contingency distance factors and international research and development (R&D), marketing, and manufacturing alliance formations. International Business Review, 24(6), pp.1061-1071.
Demangeot, C., Broderick, A.J. and Craig, C.S., 2015. Multicultural marketplaces: New territory for international marketing and consumer research. International Marketing Review, 32(2), pp.118-140.
Gomes, E., Sousa, C. and Vendrell-Herrero, F., 2017. International marketing agility. International Marketing Review.
Hakansson, H., 2015. Industrial Technological Development (Routledge Revivals): A Network Approach. Routledge.
Hult, G.T.M., Hair Jr, J.F., Proksch, D., Sarstedt, M., Pinkwart, A. and Ringle, C.M., 2018. Addressing endogeneity in international marketing applications of partial least squares structural equation modeling. Journal of International Marketing, 26(3), pp.1-21.
Javalgi, R.G. and La Toya, M.R., 2015. International marketing ethics: A literature review and research agenda. Journal of Business Ethics, pp.1-18.
Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. Strategic international management (pp. 978-3658078836). Springer.
Papadopoulos, N. and Heslop, L.A., 2014. Product-country images: Impact and role in international marketing. Routledge.
Penz, E. and Kirchler, E., 2016. Households in international marketing research: Vienna Diary Technique (VDT) as a method to investigate decision dynamics. International Marketing Review, 33(3), pp.432-453.
Samiee, S., Chabowski, B.R. and Hult, G.T.M., 2015. International relationship marketing: Intellectual foundations and avenues for further research. Journal of International Marketing, 23(4), pp.1-21.
Stöttinger, B., Schlegelmilch, B.B. and Zou, S. eds., 2015. International Marketing in the Fast Changing World–Introduction to Volume 26. In International Marketing in the Fast Changing World (pp. xi-xvi). Emerald Group Publishing Limited.
Vellas, F., 2016. The international marketing of travel and tourism: A strategic approach. Macmillan International Higher Education.
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