Be entrepreneurial Innocent started their company by seeing an opportunity; they first sold their smoothies at a music festival in London where they initiated their entrepreneurial approach. Expending carton recycling, waste reduction efforts, bottle recycling, rainforest rescue, PepsiCo sustainability. We needed as many people as possible from the beginning of the night, so we starting offering free pizza for those who arrived early. Lastly, many companies such as Starbucks are also starting fruit bars and or juices which can ultimately become a threat to Innocent but in order to remain market leader in the smoothie industry Innocent should stick to their 100% natural policy and due to the current health trend the healthy consumer will prefer Innocent over the others. This will be supported by digital, in-store activation and sampling, running for the first two months of the year. This must be branded distinctively from existing Innocent products in order to retain existing customers.
Highlights the college president's role in the marketing process, indicating that, although the president is the chief marketer, all employees must be actively involved. This Water is trying to tap into the Dutch market which might be a bit hard for them to accomplish but through Coke a Cola having a 58% share with Innocent they allow this water to tap into extra resources focusing on positioning themselves to the most competitive level possible. Market segments allow companies to create product differentiation strategies to target them. The sales of smoothies is 86% of the times planned and 14% is being bought on impulse, when consumers buy on impulse shops are making the difference. This strategy would enable Innocent to drive sales of their exclusive product, but at the same time increase awareness of the innocent brand and existing products due to Innocent being prominently displayed throughout the store. If a company doesn't research the area in which they are going to market or they put a product.
Can be freshly made on premises, however deliveries of premade smoothie may warrant less risk in terms of quality. To get consumers on board, Pomphrey says taste is at the forefront of its innovations. The only question is, if the company wants to stay. Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. In case you are wondering, yes, they fought hard for Innocent Drinks.
Read carefully the case and make a list of the pros and cons of each segmentation scenario. . This is to appeal to the athletes and adrenalin junkies who want a drink that can match their lifestyle. The sales of smoothies is going up and the market grew by up to 38%. For this reason it requires an exceptionally slick system of distribution. Idea 4 would associate the brand with alcohol consumption, as Innocent is a health based products this would generate conflicting messages.
The recession is one of the main reasons why Innocent is losing sales and market share. Demographics, Market segmentation, Marketing 1473 Words 6 Pages must popular shoes on the market. It is also expected to have lots of innovation and communication developments regarding he technological macro environment. The report also includes a discussion of the key vendors operating in this market. Macro environment Porter 5 Forces Bargaining Power of Suppliers: Number of Suppliers: This Water is a potential brand extension of an already existing company named Innocent; Innocent has currently merged with Coke a Cola and is in partnership in creating the best cheapest most beneficial product to their customers, by aligning capitalize on the production costs of their products. These products are fairly similar and serve a purpose, which is why people are prepared to pay more. Place: Due to great logistical power and being aligned with PepsiCo have allowed Tropical world and offers direct competition to Innocent and This Water.
Place: As of yet Happy Monkey is solely based and operational within the I-J with their products being shipped throughout the larger supermarket chains. Being natural goes hand in hand with their mission statement where they aim to make society healthier. Market Segmentation Limitations 8 11. Less than 10% of respondents could be classified as innovative consumers of packed coffee drinks. I think these days you can bring what you stand for as a brand to life in many different ways and engaging ways and that is effectively what we use our brand properties for.
Forbes, 2013 Moreover, today their market value is 83. The group of first-time and potential users is therefore attractive for the business. Caffeine, Coca-Cola, Dr Pepper 1411 Words 6 Pages and the product of the other business should be mainly a service. If you visit this website you will see differences in food preferences around the world. It is advised that Innocent use this type of segmentation when planning sampling areas and assessing locations in which to sell the smoothies when moving from the niche to volume market. However, it is important to extend the demographic data beyond the prospective students to all people served by the university, such as alumni, employers of graduates, financial supporters, and for statesupported universities. Innocent has built a very successful business in the smoothie market by offering quality, fresh products and by behaving in an openly ethical manner, this has created a brand that from the point of view of customers it means quality and healthy products, its ethical strategy is using fresh and pure fruits and not use any preservatives, stabilizers or concentrates in its drink.
The expected market growth is an opportunity for Innocent to increase their sales and therefore revenue. The economic downturn has also hindered the sales in products like Smoothies, Bottled Water and premium Soft drinks. In addition to their power, the brand awareness and the brand image of Innocent is therefore very high. Demography, Market segmentation, Marketing 975 Words 4 Pages content 1. This campaign could coincide with the move that Ofcom have made to ban products like junk food and ones containing high suger levels being advertised to children. Innocent could do this by negotiating an exclusive contact with a restaurant e.
An effective social media campaign should involve regular updates throughout the day. For example, Southwest Airlines focuses on price sensitive. Innocent has also acquired customer loyalty; their customers are already paying the current price and will continue to do so. Innocent Drinks Smoothie Sales, Revenue and Gross Margin 2014-2019 11. Marketing strategies to reach young innovative consumers include emphasising uniqueness of the products, setting up high and distinguishable market prices, providing detailed information on the internet, and occasionally using television advertising to strengthen product images. The maturity phase is where a company is in consolidation it also shows a slowing in growth.
A wide range of comparative data will be used to ensure a balanced report. Businesses segments people so that they can target their products or service at the right customers. It was also found that more minorities wanted a formal education from a degree program. Innocent is currently seen as a premium brand, by lowering price consumers may not think of it as a premium brand any longer, or Innocent may only be able to sell at the reduced price. This could be a powerful technique as the consumer who orders a salad is also likely to be health conscious, and would therefore consider the smoothie, especially due to the price promotion, but more importantly may incorporate an Innocent smoothie into their weekly shopping list. Also a short survey on the segmentation discrete choice modeling is made to bring the theory to the practice.