Marketing strategies
Marketing Strategies and Product Recommendation
Margarine is a food product primarily made from one or multiple vegetables or either oils and fats from animals. It is usually dispersed in a soluble portion of milk products, either fluid or solid, salt, and other ingredients for flavouring purposes. Incorporation of emulsifiers, yellow food pigments, butter, vitamin A and D and preservatives add value to the product. Margarine is used as a spread or for cooking (Ajmal et al., 2018). Due to its flexibility, margarine can be utilized as an ingredient for other food-stuffs like cookies and cakes. Nutritionally, the consumption of margarine provides calories and vitamins to the body. Industrial margarine is widely used in the beverage and food industries due to the increased demand for the confectionary and bakery products. Due to the emulsification ability of margarine in food products, it provides an increased shelf life to the final product. As a result, it creates a high demand for the food and baking industries. Fair prices of industrial margarine and their low-fat content are key elements that fuel the need for the product in the market.
The baking industries prefer industrial margarine with low-fat content in targeting consumers with health problems. While focusing on the target market, manufacturers should consider consumers with heart problems and reduce the fat, sugar, and calorie content to include all consumers irrespective of their conditions. Based on age, the company should address the usage and the effects associated with much consumption of the product. To overcome the challenges related to marketing, manufacturers should understand the needs of their customers and solve their problems. A strategic positioning at the market is necessary for the competitiveness of the product .should locate a strategic place for the business. Positioning is achieved through placement and promotions of the (Hulland, Baumgartner, & Smith, 2018). In terms of publicity, companies require direct markets, advertisements, joint ventures, and special offers. Additionally, the positioning should be concerned with multi-channels, distribution channels, and web-based channels to increase the flow of the product. Based on product recommendation, the company should consider, value-based pricing, cost leadership pricing, penetration pricing, and cost-plus pricing. The company should evaluate consumer behaviours such as psychological, personal, cultural, and social behaviours affects the will of the customer in purchasing a product. Individual factors like occupation, age, and income influence consumer’s decisions on buying a product (Grebitus, Printezis, & Printezis, 2017). These are distinguishing factors that may vary with different people located in different markets. Cultural factors may influence an individual’s behaviour through the family. Values, ethics, perceptions, wants, and culture can be considered as characteristic features. Culture is a significant point in a consumer’s decision to buy a product. By understanding the consumer behaviour of specific individuals’, the company gets valuable clues for identifying the market segments.
Companies manufacturing margarine advertise their products online. Currently, customers prefer to visit retailers to confirm the product and eventually buy it online at reduced prices. For increased sales of margarine, retailers need more effort into online marketing. Age and income are variables that distinguish the target market. Customers with increased incomes are directly proportional to the strength, weakness, opportunities, and threat of margarine companies (Hulland, Baumgartner, & Smith, 2018). Strategic positioning of retailer shops on the target market allows for more sales of margarine as compared to poorly positioned retailers. More consumers will benefit from the availability of more retail shops. Increased production of quality margarine will lead to more consumption of the product by customers. Companies should consistently produce quality products to get loyalty from customers.
The number of retailers in a particular place can determine the consumption of margarine based on the accessibility of the product. Discounts on products encourage more purchases of margarine. Proper packaging of margarine motivates customers to buy the product. Companies should promote their products by offering special prices to their customers and provide lucrative adverts on margarine. More customers get aware of the product through product promotion.
References
Ajmal, M., Nadeem, M., Batool, M., & Khan, I. T. (2018). Review Probable Ingredients for Trans Free Margarine with Omega-3 Fatty Acids. Biological Sciences-PJSIR, 61(3), 182-186.
Grebitus, C., Printezis, I., & Printezis, A. (2017). Relationship between consumer behaviour and the success of urban agriculture. Ecological Economics, 136, 189-200.
Hulland, J., Baumgartner, H., & Smith, K. M. (2018). Marketing survey research best practices: evidence and recommendations from a review of JAMS articles. Journal of the Academy of Marketing Science, 46(1), 92-108.