Food Politics: How the Food Industry Influences Nutrition and Health - Essay Example

Marketing plan for Atlantic Quench Cranberries Increasing health concerns and the growing awareness regarding soft drinks are triggering anincreasing number of people towards consuming healthy beverages such as fruit juices (Corbett, 2013). The overall fruit juice segment of the beverage industry has grown considerable in the last few years. According to Mintel (2014), the value sales of fruit juice, juice drinks and smoothies market increased by about 5.6% from 2009 to 2014. However influenced by the negative press of high sugar content and leading to obesity, the market value of fruit juice is expected to decrease by 3% in 2014 (Mintel, 2014). Atlantic Quench operates in the fruit juice segment with the objective of maintain and attracting more consumers through offering them greater range of benefits present in their manufactured fruit juice products. The company has suffered from the decrease of market value and sales volume. The paper analyses the existing fruit juice markets of the US and the UK so as to conduct a marketing plan for growth for Atlantic Quench in next year. Table of Contents Chapter 1: Introduction 5 Chapter 2: Current market situation 5 2.1 Internal analysis 5 2.1.1 Market description 5 2.1.2 Product review 7 2.1.3 Competitive review 8 2.1.4 Distribution review 8 2.2 Macro Environment Analysis Porter’s Five Forces analysis 9 2.2.1 Bargaining power of buyers: High 9 2.2.2 Bargaining power of suppliers: Low 9 2.2.3 Rivalry: High 9 2.2.4 Threat of substitutes: High 10 2.2.5 Entry barriers: low 11 Chapter 3: SWOT analysis 11 3.1 Strengths 11 3.2 Weaknesses 12 3.3 Opportunities 12 3.4 Threats 12 Chapter 4: Objectives and issues 12 4.1 Objectives 12 4.2 Issues 13 Chapter 5: Marketing strategy 13 5.1 Segmentation 13 5.2 Positioning 13 5.3 Product strategy 14 5.4 Pricing strategy 15 5.5 Distribution strategy 15 5.6 Marketing Communication strategy 15 5.7 Marketing research 16 Chapter 8: Marketing Implementation 16 Chapter 7: Budget 17 Chapter 8: Control 19 Reference List 20 Bibliography 22 Chapter 1: Introduction Atlantic Quench Cranberries Incorporated (AQC) is one of the premier fruit juice manufacturing companies operating in the U.S. AQC has been established as an agricultural co-operative. The company was formed almost 80 years back by the cranberry farmers from New Jersey and Massachusetts. Farmers from Florida joined the co-operative in the year 1974. Currently AQC is owned by 46 grapefruit and 630 cranberry farmers. The company has achieved great success in the UK. However, the fast growing health concerns amongst consumers in the UK and the US has brought challenges for the company as the market value and sales volume (Mintel, 2014). However, the consistently rising demand for low sugar content fruit juice drinks is seen to be a good chance for the business of AQC and similar fruit juice manufacturing firms, in a highly positive manner (Corbett, 2013). The current paper focuses to analyze the existing conditions and the characteristics of the UK fruit juice market. Accordingly the paper aims to recognize the opportunities and challenges existing in the market for Atlantic Quench so that the company can develop strategic plans for marketing their products and recognise suitable positioning opportunities. After implementing these strategies of this marketing plan, the sales of the company is expected to increase by 4.5% and the profit margin will be maintain at 12% - 14%. Chapter 2: Current market situation 2.1 Internal analysis The company has remained successful at achieving 7% growth annually since the last four years. Almost 26% rise in the sales of Crantanas has been affected in the recent years and the credit mainly goes to the efficient internal management processes (excerpt from case study). The internal review of the company’s management has been done in the following section. 2.1.1 Market description Carbonated drinks, fruit drinks, tea and coffee and bottled mineral water are important segments of this industry (Nestle, 2013). On a global scale the beverage industry has been emerged as an important sector contributing significantly towards the GDP of most nations. The soft drinks industry had grown by 2.1% to reach a size of $531.3 billion dollars in the year 2014 (Reuters, 2014). The fruit juice segment was however not synonymous with this growth. The overall growth rate in the fruit juice segment had declined by almost 8%. The European and American nations account for the maximum revenues in the soft drinks market, as shown in the figure below (Mintel Store, 2013). Figure 1: Revenue from global soft drinks industry (Source: Mintel Store, 2013) The rapid rise in health concerns has enhanced the demand for healthy food habits. Increased consumer awareness regarding fast food and its negative implications upon the health has made many consumers shift to the healthy food segments. Even though the sugar content in fruit juice is high, compared to other soft drinks it is lower. The fruit juice segment began growing since the year 2000 and has now emerged as one of the important segments in the beverage industry. At present the fruit juice segment is adequately developed globally and is successful at generating high revenue. The rapid growth of the segment has increased the number of players in this segment as well. In fact many carbonated beverage producers such as PepsiCo and Coca-Cola have entered the fruit juice sector as manufacturers and distributors (Nestle, M., 2013). The low cost of soft drinks and carbonated drinks are a potential challenge for the fruit juice manufacturing firms. Manufactures in the fruit juice sector try to overcome this barrier by increasing the awareness and promoting the goodness of fruit based drinks. 2.1.2 Product review The overall products of the company can be classified into two categories, namely; juice products and non juice products. Cranberry is the core flavour for most of the juice products of the company which many other companies of the same industry do not manufacture, therefore providing AQC with distinctive market advantages. AQC has a number of chilled juice drinks in suitable packaging which aims to target the market of chilled beverages which is considered to be a growing market segment. The dried fruit snack of the company Crantanas and chocolate covered Crantanas are also seen to gain immense popularity in the market due to their uniqueness (excerpt from case study). In the recent years the sales of the brands light fruit drinks is seen to pick up its pace in the market, although the rate of growth is not quite satisfactory. Going by the current trend the global soft drinks are expected to fall by 3% in the coming years (Mintel, 2014). The significant advantage of ACQ manufactured drinks is that their sugar content is low compared to general fruit juices. The drinks are largely seen to be based on fruit pulp and fruit sweeteners. Therefore the health implications of the drinks are essentially positive. 2.1.3 Competitive review The prime competitors of the company in the fruit juice segment are PepsiCo, Coca-Cola, Suntory, Britvic and AG Barr. Their market shares in the U.K fruit juice industry has been shown below. Figure 2: Market share of fruit juice manufacturing companies in the U.K market (Source: Mintel, 2014) Most of the competitors of AQC such as PepsiCo and Coca-Cola are seen to distribute their products through hypermarkets and supermarkets and follow open marketing strategies. Pricing strategies followed by most firms are competitive. In such a technique the prices are established on the basis of industry average. Promotional tactics of these firms are essentially advertising, television and event sponsorships and online promotions. Print advertising are also largely undertaken for promoting special offers and discounts. 2.1.4 Distribution review The brand sells its products directly to consumers through retail shopping centres and hypermarkets. The company also has installed a number of mini stores across the U.K and the U.S which sell of the products of AQC. Since AQC is seen to follow an open distribution system, it has developed ties with a number beverage groups which has led to the development of a number of for distributing the company’s products across the U.K and te U.S. Such strategy helps the company not only to develop business relations with other firms but also make use of their resources and strengths. The company has been successful in achieving contracts with three large super market groups in the U.K for distributing its products. In the U.S the company partners with Coca-Cola for meeting distribution related needs (excerpt from case study). 2.2 Macro Environment Analysis Porter’s Five Forces analysis 2.2.1 Bargaining power of buyers: High Consumer trends and preferences influence the different strategic polices adopted by companies operating in the fruit juice market. In the recent years the rising demand of fruit juices and the availability of a number of brand options in the market, has reduced the price for juice products in the market. It is essential that AQC develops strategies for reducing costs so that the reduction in market prices charged from consumers can be compensated accordingly. The high bargaining power of consumers has caused a decline in major juice products of the company so that consumer base can be maintained (excerpt from case study). 2.2.2 Bargaining power of suppliers: Low Suppliers of AQC are mainly farmers, who are also the shareholders of the company. It is essential that the management of the company maintains good relations with the suppliers so that agricultural produce required for making juice are provided to the organization on a timely and productive basis. Since suppliers are the shareholders of the firm, it is becomes easier to negotiate prices. AQC follows the policy of paying suppliers on the basis of the prices charged from consumers. If sufficient prices cannot be charged from consumers, suppliers cannot be provided with adequate returns. The low bargaining power of suppliers is evident from the fact that the company’s farmers were provided with low returns in the year 2000 (excerpt from case study). 2.2.3 Rivalry: High The juice market is seen to be getting highly competitive with frequent entry of firms. Moreover the existence of a number of brands, increases consumer options. Firms are required to device strategies by which they are able to achieve higher competitive advantages in the market. The existence of strong rivalry amongst firms increases the requirement of firms to remain innovative and frequently develop new products. The figure 2 above some of the leading fruit juice manufacturers in the U.K and who act as potential rivals for AQC has been shown (Mintel, 2014). 2.2.4 Threat of substitutes: High Fruit juice market faces a strong threat from the soft drinks industry. Moreover a number of soft drinks companies are seen to enter into the fruit juice market as well through the development of new products. Additionally fruit juices served by restaurants and fast food chains provide significant competition AQC. Fruit juices can also be substituted by fruit based smoothies. From a macro environment perspective, the substitutes of fruit juice are considered to be flavoured carbonated drinks, which taste similar to fruit juices. AQC should consider manufacturing smoothies which include fruits, yoghurt and even oats which facilitates converting the drink into almost a healthy and filling snack. This can also be considered as an apt market diversification strategy and reduce the threat of substitutes at least to a certain extend. Substitute threats are seen to diminish as the brand in able to offer greater range of products (Mintel, 2014). The following figure depicts that smoothies occupy a significant position in the market and act as a potential threat for fruit juice segment. Figure 3: Market share of substitutes of the fruit juice (Source: Mintel, 2014) 2.2.5 Entry barriers: low The fruit juice market of the U.S and U.K are characterized with frequent entry. This increases the level of competition existing in the market and is also seen to impact the manner in which AQC formulates different types of market strategies. When there are frequent new market entrants, existing firms are required to adopt effective advertising techniques. This increases the amount of investments required to be made in marketing related activities. In order to sustain in the market, the management of AQC is required to formulate better and more effective policies of marketing (Westwood, 2013). The following figure shows the fruit juice category holds a significantly strong position in comparison with the other beverages. The growth is primarily caused due to increase in the number of players in this segment. Chapter 3: SWOT analysis 3.1 Strengths Strong managerial abilities. The administration of the company is seen to be deal with adverse market conditions in a simple manner. Suppliers and shareholders of the company are the same. This enables greater understanding, partnership and ease of approach. The company also gives sufficient importance to its innovative abilities and strategically develops new products for maintaining strategic advantage position in the market (Zeithaml, 1988). 3.2 Weaknesses Since suppliers are the shareholders of the organization, obtaining raw materials from external sources may hamper the relationship which the management shares with the suppliers. Climatic factors may also lead to over production of agricultural produce causing the firm to produce in larger quantities and supply the same to consumers at lower costs. 3.3 Opportunities Greater acceptance of fruit juice products as compared with the carbonated drinks products. AQC has received good acceptance both in the markets of the U.K and the U.S. The dried fruit market is also seen to grow significantly which provides scope for AQC’s Crantanas to achieve greater sales (Blanchette and Brug, 2005). 3.4 Threats The increasing number of firms in the fruit juice industry poses as a massive threat for the company. Due to the existence of strong competition the company is required to invest heavily in advertising and promoting, eventually impacting the costs of production. Chapter 4: Objectives and issues 4.1 Objectives In order to maintain a competitive and strong position in the market, it is essential for Atlantic Quench to launch new and more acceptable products in the market. The fruit juice sector is seen to be highly attractive for many investors due to its rapid growth abilities. As a result it is observed that many carbonated drinks producers are penetrating into the fruits juice market for increasing the consumer base (Mintel, 2014). This necessitates increasing advertising and marketing related activities and increasing new product development capabilities. From the forthcoming year 2015, the company expects to increase, its sales by 10% and profits by 8%. It also plans to raise its market share considerably on an annual basis. Due such strategic policies, the company expects to increase excess revenuer and achieve two important organizational motives which are to provide greater returns to shareholders and secondly to expand the activities of the company into other markets. 2015 2016 Sales growth @10% 10.00% 11.00% Market share 7.00% 7.69% Profit @ 8% growth 3515700 3796956 4.2 Issues A significant challenge for AQC is to reach out to a market where consumers are willing to spend less and emphasize more upon taste. Carbonated drinks are more cheaply available in the market than fruit drinks. Due the comparatively higher costs of production Atlantic Quench and none of the other fruit juice manufacturing companies are in a position to charge such low prices. Therefore the firms operating in this sector fail to target the price conscious consumers. AQC’s marketing tactics are therefore targeted towards the health conscious consumers (Reinartz and Kumar, 2000). Chapter 5: Marketing strategy 5.1 Segmentation The products of Atlantic Quench mainly targets the health conscious and those who individuals who frequently exercise. The product mainly aims to attract the consumers of the dry fruits segment as well as the consumers of the health drink segment. The concerns regarding health are mainly seen to exist amongst the working population, old aged and parents of young children. Therefore all promotional and marketing related activities will be carried out keeping in mind the needs of these groups (Menrad, 2003). 5.2 Positioning The company tries to position itself in the market through highlighting the positive impacts of health drinks. It tries to influence consumers by displaying to them the positive impacts of health drinks as compared with carbonated drinks. The prime competitors of AQC are not only the soft drinks manufacturers but also other firms who manufacture fruit drinks and operate in the same industry. The company is required to market its products in a manner such that consumers accept AQC as the premier fruit drinks manufacturers of the market. The prime positioning aspects of AQC are: 1) Less artificial sweeteners and more use of fruit pulp and fruit based sweeteners. 2) A value for money product. 3) Medical advantages of AQC drinks for patients suffering from obesity and diabetes. 5.3 Product strategy Since the products of Atlantic Quench are mainly targeted towards the health conscious consumers, the firm is required to ensure that the quality of the drinks remains superior in the industry. For meeting such needs special attention is required to be given to the production procedures. Since fruit juices may perish if not stored in the right manner, the company also requires focusing upon the manner in which products are transported to the markets and their packaging. If product packaging is not done in the right manner, they may perish sooner (Mintel, 2014). The company also requires meeting the health regulations imposed by the food regulatory authorities of the U.S and the U.K. In the recent times the company has decided to launch products keeping in mind the health requirements of children and athletes. For attracting such consumers, AQC gives special emphasis in increasing the nutritional value so that consumers gain extra stamina for remaining sporty and active. For meeting such requirements, the company has developed products by adding the ingredient omega three (Chang and Kang, 2004). (Source: Marketing Equity, 2011) On the basis of the Ansoff matrix, it can be clearly seen that AQC follows the diversification strategy whereby it tries to enter into market segment through developing new products and creating new marketing opportunities. Based on the Ansoff matrix the company establishes plans in respect of developing new products and penetrating into new markets. In order to enhance the market value, AQC understands that expansion and diversification are key elements. 5.4 Pricing strategy Fruit juices cannot generally be priced lower than carbonated drinks due to the use of actual fruits and cost inducing technology and packaging. However AQC‘s products are priced reasonably in the market and are at par with the manufacturers of other fruit juice providers. However, as the company uses less artificial sweeteners and relies on pure fruit sweeteners, manufacturing costs are seen to rise. 5.5 Distribution strategy The company has formed alliances with The Coca-Cola Company for distributing products in the U.S and Canada. The company has also developed strategic alliances with the Gerber for distribution of products in the U.K. The company maintains an open supply chain systems where it teams up with other firms for distribution. The supply chain tactics have been set up in a manner such that there are no shortages in supply and products reach the market on a timely basis. In future the company expects to partner with other firms as well to widen its operations into other European nations (excerpt from case study). 5.6 Marketing Communication strategy The firm mainly adopts different types of media advertising and event sponsorships for communicating with the markets. The company mainly targets consumers who are health conscious and this essentially forms a smaller segment of the market. Advertising efforts are also directed towards attracting youngsters. Hence extensive marketing strategies are an essential factor (Gordon, et al., 2006). The company is required to form its advertisement campaigns in a manner such that it attracts youngsters. The company plans to include influential messages using celebrities and role models to attract teenagers. The social media platform will also be used for providing greater information in respect of the benefits of healthy eating habits. The purposes of such strategies are to inform consumers that the company believes in promoting healthy lifestyle (Changchien and Lin, 2005). Innovative packing strategies have been adopted to attract more consumers. 5.7 Marketing research The company estimates an average of £ 81,710.00 to be spending on market research related activities on an annual basis for the forthcoming years until 2017. The company will conduct both primary and secondary research for obtaining data in respect of estimated market demand and consumers preferences. Primary research would be mainly carried out through different surveys. Secondary research would be carried by obtaining information through various publications (Kerin, Hartley and Rudelius, 2007). Marketing research would provide the management with suitable information in respect of the external market conditions. Consumer preferences can be better understood due to which enables the preparation of better marketing plans and product positioning. Chapter 8: Marketing Implementation On the basis of the budgets and the objectives set by the management of the company, an estimated amount of £ 1,155,300 has been kept aside for marketing related activities for the forthcoming year. In order to maximize the revenue the company is seen to follow the strategy of reduced expenses and incurring controlled costs of production. Care is also taken by the management so that the projected output does not exceed the demand existing for the product in the market. Since the company is already counted amongst the best fruit juice companies in the U.K and the U.S., consumers are much aware of the quality of the product. Hence adequate popularity and brand image already exists in the market for the product. To further gain the attention of the consumers, the company plans to promote its products in a more innovative manner, using tactics which attracts youngsters largely. Such advertising and promotional strategies include advertising using famous role models and unique marketing messages. Action plans in respect of marketing also includes rapid online promotions using social media platforms to attract teenagers and promote a healthy lifestyle. The company also plans to organize and sponsor a number of health shows and seminars in colleges, universities and schools for making consumers aware regarding the benefits of a healthy eating and drinking habits. The company plans to rely mainly upon media advertisements and event sponsorships for maintaining customer attention upon the brand. Print advertisements, social networking and distribution of free samples are also additional marketing tactics adopted by the company (Holbrook, 2002). The marketing goals would be achieved by employing efficient personnel having adequate knowledge of the brand and the existing conditions in the market. Chapter 7: Budget A projected marketing budget for the forthcoming year has been prepared by the management of the company. The figure below shows the marketing estimates of the company for the year 2015. The expenses have been allocated for different marketing related activities on the basis of the projected aims and objectives of the administration. The prime goal of the management is to maximize revenues so that maximum possible returns can be provided to the farmers who the shareholders of the organization (Bech-Larsen and Scholderer, 2007). Table 1: Marketing budget Marketing budget (£) 1st quarter 2nd quarter 3rd quarter 4th quarter Total Salaries for marketing employees £ 30,300.00 £ 32,400.00 £ 55,000.00 £ 65,800.00 £ 1,83,500.00 Allowances £ 15,000.00 £ 18,000.00 £ 25,500.00 £ 10,500.00 £ 69,000.00 Marketing research £ 17,500.00 £ 15,500.00 £ 22,000.00 £ 20,000.00 £ 75,000.00 Media promotions and advertising £ 80,000.00 £ 97,500.00 £ 75,000.00 £ 35,000.00 £ 2,87,500.00 Events sponsorship £ 67,000.00 £ 54,000.00 £ 39,500.00 £ 44,300.00 £ 2,04,800.00 Print advertisements £ 46,000.00 £ 49,000.00 £ 56,000.00 £ 52,000.00 £ 2,03,000.00 Social networking £ 12,500.00 £ 11,500.00 £ 10,700.00 £ 15,500.00 £ 50,200.00 Fee gifts and samples £ 23,600.00 £ 21,000.00 £ 20,700.00 £ 17,000.00 £ 82,300.00 Total marketing expenditure £ 2,91,900.00 £ 2,98,900.00 £ 3,04,400.00 £ 2,60,100.00 £ 11,55,300.00 Table 2: Income statement 2015 1st quarter 2nd quarter 3rd quarter 4th quarter Total Sales £ 22,50,000.00 £ 20,89,000.00 £ 21,65,000.00 £ 24,60,000.00 £ 89,64,000.00 Cost of sales £ 8,07,600.00 £ 7,56,000.00 £ 6,59,000.00 £ 7,84,000.00 £ 30,06,600.00 Gross profit £ 14,42,400.00 £ 13,33,000.00 £ 15,06,000.00 £ 16,76,000.00 £ 59,57,400.00 Less- operating expenses Salaries £ 75,000.00 £ 75,000.00 £ 75,000.00 £ 75,000.00 £ 3,00,000.00 Rent £ 23,000.00 £ 23,000.00 £ 23,000.00 £ 23,000.00 £ 92,000.00 Administrative expenses £ 89,000.00 £ 45,000.00 £ 34,200.00 £ 43,000.00 £ 2,11,200.00 marketing expenditure £ 2,91,900.00 £ 2,98,900.00 £ 3,04,400.00 £ 2,60,100.00 £ 11,55,300.00 Distribution expenses £ 1,51,000.00 £ 1,55,000.00 £ 1,61,000.00 £ 1,81,500.00 £ 6,48,500.00 Repairs and services £ 15,400.00 £ 10,700.00 £ 5,400.00 £ 3,200.00 £ 34,700.00 Total operating expenses £ 6,45,300.00 £ 6,07,600.00 £ 6,03,000.00 £ 5,85,800.00 £ 24,41,700.00 Net profit £ 7,97,100.00 £ 7,25,400.00 £ 9,03,000.00 £ 10,90,200.00 £ 35,15,700.00 Net profit margin 35.43% 34.72% 41.71% 44.32% 39.22% Chapter 8: Control The strategy of Chuck Berrie from the very beginning of his joining the firm is to maintain low costs of production, so that shareholders revenues are maximized. 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