Innocent Smoothies Marketing Essay Example
Innocent Smoothies
Marketing
Contents Page
Page 2
• Introduction
• Chapter 1 Perceptual Map
Page 3
• 1.1 Axes of Perceptual Map
• 1.2 The Marketplace
Page 4
• Chapter 2 The Marketing Mix
• 2.1 Product
Page 5
• 2.2 Price
• 2.3 Promotion
• 2.4 Place
•
Page 6
• Chapter 3 Segmentation
• 3.1 Demographic Segmentation
Page 7
• 3.2 Geodemographic Segmentation
Page 8
• 3.3 Product Diversification
• 3.3.1 Families
• 3.3.2 Young Children
• Conclusion
Introduction
Innocent owns over 60% market share of the smoothie niche market (appendix 1), and are currently looking to expand into the volume juice market.
Objectives:
To show Innocent’s position in the market in relation to niche and volume competitors.
To use the marketing mix to assess the challenges faced when expanding into a new market.
To advise Innocent on how to segment their market.
1. Perceptual Mapping
Perceptual mapping is a strategic management tool used by companies to communicate the correlation between marketplace competitors and the criteria used by consumers when making purchase decisions. It looks at the current strengths and weaknesses of each company and is used to understand a company’s position in the marketplace.
Innocent is placed on the perceptual map along with three competitors of the beverage industry:
• PJ Smoothies
• Minute Maid Co
• Just Juice
1.1 Axes of the map
The vertical axis of the map represents the price that consumers pay for the product. This is an important aspect to consider when planning for product positioning. It is assumed by customers that a higher price equals better quality. In the smoothie market quality can be categorised in terms of the amount of fruit evident in the drink. This is not only because the smoothie is consumed as a drink but also as a healthy alternative to a light snack. The horizontal axis of the diagram illustrates the fruit content.
Marketing
Contents Page
Page 2
• Introduction
• Chapter 1 Perceptual Map
Page 3
• 1.1 Axes of Perceptual Map
• 1.2 The Marketplace
Page 4
• Chapter 2 The Marketing Mix
• 2.1 Product
Page 5
• 2.2 Price
• 2.3 Promotion
• 2.4 Place
•
Page 6
• Chapter 3 Segmentation
• 3.1 Demographic Segmentation
Page 7
• 3.2 Geodemographic Segmentation
Page 8
• 3.3 Product Diversification
• 3.3.1 Families
• 3.3.2 Young Children
• Conclusion
Introduction
Innocent owns over 60% market share of the smoothie niche market (appendix 1), and are currently looking to expand into the volume juice market.
Objectives:
To show Innocent’s position in the market in relation to niche and volume competitors.
To use the marketing mix to assess the challenges faced when expanding into a new market.
To advise Innocent on how to segment their market.
1. Perceptual Mapping
Perceptual mapping is a strategic management tool used by companies to communicate the correlation between marketplace competitors and the criteria used by consumers when making purchase decisions. It looks at the current strengths and weaknesses of each company and is used to understand a company’s position in the marketplace.
Innocent is placed on the perceptual map along with three competitors of the beverage industry:
• PJ Smoothies
• Minute Maid Co
• Just Juice
1.1 Axes of the map
The vertical axis of the map represents the price that consumers pay for the product. This is an important aspect to consider when planning for product positioning. It is assumed by customers that a higher price equals better quality. In the smoothie market quality can be categorised in terms of the amount of fruit evident in the drink. This is not only because the smoothie is consumed as a drink but also as a healthy alternative to a light snack. The horizontal axis of the diagram illustrates the fruit content.