Marketing Plan for the Product
This report is based on the analysis of food marketing. The process of creation of the marketing mix and marketing strategies is discussed in detail. The industry taken into consideration for this analysis is the Australian beef industry.
Australia has a large beef industry. This industry comprises of about 150,000 people who are from the feedlots, processors, cattle properties and other supporting industries. These people collaborate efficiently to manufacture food which is high is nutritional value. The main aim towards building the whole framework for this industry is to fulfill the changing needs and demands of the customers (Baker 2014).
This analysis is mainly focused on the marketing strategy JBS Australia. JBS Australia is one of Australia’s largest meat producer and exporter as well. The main commitment of the organization is the assurance of quality of their products (Jbssa.com.au, 2017). The product of this company that is being promoted is Great Southern Beef. This brand is produced within the JBS Farm Assurance Program and it is produced from breeds of British origin namely, Hereford and Angus.
The detailed marketing plan for the beef industry includes the identification of the target market for the product. The segmentation of the target market is important. Following this the process of the decision making of the consumers needs to be discussed. The role of marketing in the decision making of the consumers is explained. The marketing mix of the product is explained (Armstrong et al. 2014).
Target market for a particular product mainly refers to the selection of the correct group of people or consumers for the product that is promoted. Target market for a product is decided based on the similarities of the needs or desires of the consumers with the product offerings (Fifield 2012). There are four ways or target market segmentation, these include,
- Demographic segmentation is the basic and most widely used process of market segmentation. This segmentation is done on the basis of the gender, family, income, occupation, size, race, religion and nationality of the people taken into consideration.
- Behavioral segmentation is the process by which the group of consumers are divided according to their behavior, pattern of decision making and the usage of particular brands or products.
- Psychographic segmentation is the process by which the group of consumers are divided based on their interests, activities and their opinions about the brand or the product.
- Geographic segmentation is the way by which the group of consumers are divided based on their location (Hanssens et al. 2014).
The target market for the beef product of JBS Australia namely, Great Southern is mainly the cold states of Australia where beef can be supplied from JBS Australia. These states are New South Wales and Tasmania. The citizens of these states are more likely to purchase beef and beef products, especially, superior quality tender beef. The climatic conditions of these two states also facilitates the purchase of this meat. The eating habits of the people of these two states is the most likely to facilitate the purchase of Great Southern Beef. Hence, it can be said that this is the target market for JBS Australia (Hollensen 2015).
Target Market of the Product
Effective market segmentation includes some parameters. These are,
- Substantial – The market segment taken into consideration should be of enough size, so that it is profitable for the company.
- Measurable – The market segment should be measurable with respect to the size of the market, the purchasing power and the demand for the product can be measured.
- Accessible – The market segment should be accessible with the help of the distribution channels of the organization. The promotional activities of the company must be able to reach the market segment with the help of any kind of marketing media.
- Differential – The market segments taken into consideration should be different from each other.
- Actionable – The market should be segmented in such a way that the marketing programs designed by the company can be easily implemented (Juster 2015).
The size of both the market segments that is, New South Wales and Adelaide, which is the capital of South Australia, are large. The company already has its operations in New South Wales, so it is a known area for the company. The other market segment is Adelaide which is accessible by the company in terms of its distribution channels and also the promotional activities. The market segments are both different from each as New South Wales is a known market and Adelaide is a total new area for the company (Kotler 2012). The promotional activities of the brand of JBS Australia can be easily implemented in both the countries.
The process of decision making of the consumers starts before the purchase is actually made. There are five stages of the consumer decision making process.
Customers are required to identify their needs and wants, then the customer decides the amount of information that is required, following this step the customers evaluates the alternatives available for the same product, then the purchase decision is taken by the consumer and finally the consumer does the evaluation of the purchase done. This evaluation is an important part of the consumer decision-making process as this decides the loyalty of the consumer towards the brand (McDonald and Wilson 2016).
In case of food products the decision-making process involves aspects like the quality of the food product, the price of the product and the nutritional value of the food product. In case of the product named Great Southern Beef manufactured by JBS Australia, the main factors that are considered by the consumers are the freshness of the product, the quality, the price effectiveness (Mullen and Johnson 2013). The needs of the consumers who will purchase this product should be addressed by the company. The information about the product should be readily available in the website or the advertisement designed by the company. JBS needs to place the advertisement in such a way so as to beat the competitors in the market selling the same brand. The purchase decision and the evaluation are the most important steps which will the loyalty of the consumers towards JBS Australia.
Consumer behavior or the decision making process of the consumer is closely linked with the marketing strategy of a company. The company decides about the marketing strategy of their products based on the behavior of the consumers towards the product or the brand. The marketing strategy of a product can influence the consumer decision-making process. Devising the correct marketing strategy for the correct group of target consumers ensures that the product is marketed properly (Niazi et al. 2012). Consumer behaviors are studied by the marketing managers of the organization to determine their marketing strategies to increase the future sales of the company.
Segmentation of Target Market
Each stage of the consumer decision making process is affected by the marketing strategy of the organization. The needs recognition of the consumers is the first step of the consumer decision making process. The organization has to align its offerings with the needs of the consumer. In this case the needs of the citizens of both the countries taken into consideration, that is, United States and United Kingdom are aligned with the offerings of JBS Australia. These are cold countries and beef is a part of their daily routine (Shaw 2012).
The next step of the consumer decision-making process is the search of information regarding the product. This step relates to the search for all the relevant information regarding the product. The product reviews and the experience of previous consumers related to the product helps in the consumer decision making process. This step is influenced by the marketing strategy of the organization (Sheth and Sisodia 2015). The reviews, the previous experience and all the other information about the product should be readily available in the company website and the advertisement provided by the company. The advertisement designed by JBS Australia should provide all the relevant information of the product. The nutritional value of the product, the quality of the product can be determined by the information in the website (Singh 2012).
Following this, the alternatives of the product from other companies or brands are evaluated by the consumers. This step is influenced by the marketing strategy of the company. The strategy should be devised in such a manner that the product manufactured by the company comes as the best alternative for the consumer. In this case, JBS Australia has to devise a fruitful marketing campaign for its brand so that the search for alternatives ends at the product which is marketed by JBS Australia (Solomon 2014).
The most important step is the purchase decision of the consumer. This step relates to the sale of the product which in turn generates profits for the company. The advertisement campaign designed by JBS Australia should be attractive enough so that the product is saleable and can generate profits for the company (Todor 2014).
The post purchase evaluation of the product determines the loyalty of the consumers. JBS Australia must ensure that they can provide a pleasant experience to the consumers after the sale of the product in terms of its quality.
In this manner, marketing strategy of the organization has an impact on every step of consumer decision making process.
Process of Consumer Decision Making
The marketing mix of a product is the process of placing the suitable product at the suitable time, at a suitable place and at the suitable price. This is mainly a combination of many plans and ideas that are used by a marketing professional to publicize a particular product. The 4 Ps of the marketing mix of the product are the elements of marketing mix. These are, the product which is being promoted, the price of the product which is an essential component of the marketing mix, the place where the product is being promoted (Hanssens et al. 2014). This is another important component of marketing mix, because choice of the right place for the promotion of the product is essential and finally the Promotion of the product. The right promotional strategy for the product is important for the success of the product in the market.
The product in this case is beef manufactured by JBS Australia. The places decided for the marketing of this product are New South Wales and Adelaide. The company already has its operations in New South Wales, so it will be easier to promote this product here. On the other hand, the market in Adelaide is comparatively new. The company can plan for expansion in this area if the product is successful in this market (Juster 2015).
The price of Great Southern Beef in New South Wales should be kept at 4 dollars for a kilogram. The price for the same product in Adelaide can be kept at 3 dollars for a kilogram.
The promotional strategies for both these places will be different. The product is already known in New South Wales. The market in Adelaide is new for the company as they do not have their operations in this area (Fifield 2012).
Branding strategy for a product mainly refers to the development of long-term plan for the successful branding of a product. This strategy helps in the enhancement of the brand in the market scenario. It is developed based on the needs and emotions of the consumers (Baker 2014).
JBS Australia is one of Australia’s most respected and largest meat exporter, marketer and packer. The products include lamb, beef and mutton. The product which is promoted in this case is Great Southern Beef. The main target customers of this product are meat lovers of New South Wales and Adelaide. This meat is processed in hygienic process. The price of the product is low as compared to other beef producing companies (McDonald and Wilson 2016).
The packaging and labeling of the products are done in such a way so that the products are distinguishable from the products of any other brand.
The packaging and labeling of the beef products of JBS Australia is also done in such a manner so that it looks completely different from the products of any other brand (Todor 2014).
Conclusion
From the above discussion, it can be concluded that the marketing strategy of a product is important for the sales of the product and profit generation for the company. Further, the decision-making of the consumer is also affected by the marketing of the particular product. Hence, it can be said that all aspects of marketing are connected with each other.
References
Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Fifield, P., 2012. Marketing strategy. Routledge.
Hanssens, D.M., Pauwels, K.H., Srinivasan, S., Vanhuele, M. and Yildirim, G., 2014. Consumer attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), pp.534-550.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Jbssa.com.au (2017). JBS Australia | Our Products. [online] Jbssa.com.au. Available at: https://www.jbssa.com.au/OurProducts/default.aspx [Accessed 21 Oct. 2017].
Juster, F.T., 2015. Anticipations and purchases: An analysis of consumer behavior. Princeton University Press.
Kotler, P., 2012. Kotler on marketing. Simon and Schuster.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.
Mullen, B. and Johnson, C., 2013. The psychology of consumer behavior. Psychology Press.
Niazi, G.S.K., Siddiqui, J., Alishah, B. and Hunjra, A.I., 2012. Effective advertising and its influence on consumer buying behavior.
Shaw, E.H., 2012. Marketing strategy: From the origin of the concept to the development of a conceptual framework. Journal of Historical Research in Marketing, 4(1), pp.30-55.
Sheth, J.N. and Sisodia, R.S., 2015. Does marketing need reform?: Fresh perspectives on the future. Routledge.
Singh, M., 2012. Marketing mix of 4P’s for competitive advantage. Journal of Business and Management, 3(6), pp.40-45.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Upper Saddle River, NJ: Prentice Hall.
Todor, R.D., 2014. The importance of branding and rebranding for strategic marketing. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(2), p.59.
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