Marketing on Vegemite

This essay will explain the target market and the 4P’s analysis for one of the Kraft product, Vegemite. Kraft Inc Company, which is the owner of Vegemite product in Australia, is the largest food and beverage company in The United States. Kraft has been a major player in the food and beverage industry for a long time ago. Kraft has broad range products of food and beverage that are available around the world. One of the Kraft products that are marketed in Australia is Vegemite. Vegemite is considered as much a part of Australia's heritage as kangaroos and the Holden cars. It is actually an Australian obsession that has become a unique and loved symbol of the Australian nation (Vegemite Australia, 2010). It is made from leftover brewers' yeast extract and various vegetable and spice additives (Vegemite Australia, 2010). Vegemite has been available in the Australia’s market since a long time ago; vegemite is defined by the Australian people as a jam that is healthy and rich of nutrition. Kraft has been the owner of the vegemite product since 1935.
First of all, marketing mix will be explained for the vegemite product. The first marketing mix is product. Vegemite has been a-long history product for Australia for the Jam market. From the marketing theory, vegemite can be classified as a consumer product, which is categorised as a convenience product, which has inexpensive price, 7.65$ and also it is available in almost all of the supermarkets in the Australia. Vegemite also can be concluded as a staple product, which is consumed regularly. From the product life cycle perspective it can be seen that vegemite is in the maturity stage and it is unlikely to move to the decline stage in the short time, because its popularity for the Jam product. Vegemite can be seen very different with other jam products, because of its unique and basic taste of Australian. With now vegemite is owned by Kraft Company, it has strong reputation from Kraft brand, which is internationally