Importance of the Food Marketing Function
Outline the importance of the food marketing function to food firms in competitive markets. What trends will influence new products developed by food firms in the future?
The Importance of the Food Marketing Function:
The food marketing function refers to the process of identifying consumer food needs and producing products and services to satisfy these needs. The food marketing function is the connecting link between food producers and consumers.
Food is a basic human need therefore making the global food markets incredibly competitive. Food markets are saturated with millions of firms producing thousands of different products, each of these competing for a market share. This type of highly saturated and extremely competitive market makes it very difficult for many food firms to be hugely successful.
The Food Marketing Function therefore plays a huge role in the food industry. In a recent study conducted at University College Cork it was discovered that 53% of television advertisements were for food and beverage products. Therefore it is essential for food firms to market their products effectively. Successful marketing in this sector has a direct influence on business profitability.
Why is the food marketing function so important to food firms in today’s competitive market?
1. It creates product recognition and brand awareness:
In a highly competitive market place, product recognition is essential for food firms to survive. Food firms must make consumers aware of their products to generate sales. It’s important that food firms advertise and market their product through mediums such as television, internet and newspapers to enforce brand awareness among consumers e.g. Coca Colas Christmas advertising campaign “Holidays are coming, Always Coca Cola”
2. It is essential to compete against rival food firms marketing campaigns:
Every food firm in today’s market dedicates a lot of time to devising unique and creative marketing
The Importance of the Food Marketing Function:
The food marketing function refers to the process of identifying consumer food needs and producing products and services to satisfy these needs. The food marketing function is the connecting link between food producers and consumers.
Food is a basic human need therefore making the global food markets incredibly competitive. Food markets are saturated with millions of firms producing thousands of different products, each of these competing for a market share. This type of highly saturated and extremely competitive market makes it very difficult for many food firms to be hugely successful.
The Food Marketing Function therefore plays a huge role in the food industry. In a recent study conducted at University College Cork it was discovered that 53% of television advertisements were for food and beverage products. Therefore it is essential for food firms to market their products effectively. Successful marketing in this sector has a direct influence on business profitability.
Why is the food marketing function so important to food firms in today’s competitive market?
1. It creates product recognition and brand awareness:
In a highly competitive market place, product recognition is essential for food firms to survive. Food firms must make consumers aware of their products to generate sales. It’s important that food firms advertise and market their product through mediums such as television, internet and newspapers to enforce brand awareness among consumers e.g. Coca Colas Christmas advertising campaign “Holidays are coming, Always Coca Cola”
2. It is essential to compete against rival food firms marketing campaigns:
Every food firm in today’s market dedicates a lot of time to devising unique and creative marketing