Marketing Audit Report of Yoplait Yoghurt - Case Study Example

Introduction Marketing is the proactive complex process by which business companies expresses customer's interest and values. Thus, the process generates the strategies and approaches that explore the sales techniques, business communication pattern as well as business developments. As the best alternative, the process initiates a strong customer relationship to meet the market target (Allen & Robert, 2010). Conversely, the concept provides a fundamental idea that meets the customer's needs and wants. On similar perspective, marketing concept signifies the Company's capability while the market mix concept signifies all the essential components of the marketing process. However, imperative decisions are required to design an overall marketing strategy, marketing process need to match with a suitable marketing environment (Jobber & David, 2013). In simple explanation, marketing mix identifies the four P's from product, price, and place to promotion. For services, marketing mix adds value to the four P's provides physical evidence of business transaction as well as improving marketing process. Analysis and assessment presented by this document is helpful in understanding the Australian target market, the marketing mix in Australia based on a detailed assessment of each component (the 4Ps) and Yoplait firm Competitive advantage. Further analysis and evaluation audit report is given on how effective marketing mix offers a solution to the target markets needs (Media, 2012). Australian target market Target market, is an identified group that contain specific business oriented features on which a business has to evaluate and maximize the opportunities to achieve its goals. Therefore, proper marketing mix evaluation as well as market needs is ought to be done using marketing strategies and marketing competitive advantage as a key market target concepts (Hooley & Graham, 2012). Conversely, the Australian target market for Yoplait yogurt Company as analyzed and evaluated is children, youths and adults of 25 to 40 years of age. Target market segmentation such as the customer's behavior, social aspects as well as their location and market features in the target market are listed. Therefore, the target audience for the yogurt products is a person who wants to take a moment of activity relaxation. On same perspective, the consumer's needs are the key principle for increased performance of the Australian yogurt Company (Mullins & John, 2013). In general, the target market in Australia looks on ways to reduce stress and tight schedule and a snack free from fat and rich in calcium and vitamin D. These ingredients or raw materials are necessary for growth and development in children. On similar approach, it also targets to provide natural drinks with no artificial flavors and preservatives as well as variety of yoghurt brands from which to choose depending on their current urge and use. The product and marketing needs Yoplait yogurt as the product under study and unique product in Australia has multiple reasons and features to be studied. A product is a product line since it has so many brands and flavors such as vanilla, passion fruits, and citrus, Yoplait light, blueberry, Yoplait original and Yoplait fruitful (Shurtleff & William, 2012). On further analysis, the product is found to be packaged in different sizes: single serve packets that are used as snacks at any time during the day. Double boxes provide the general use, and larger family size packs are used during the daytime activities to provide topping up varieties for fruit or cereal at breakfast. Conversely assessment and evaluation on the yogurts' products indicate that, the product meets the needs of the target market by offering a real substantial consumer appealing and nutritious brands of yoghurts. In addition, it provides a limitless variety of choices and preferences on consumption. Therefore, it has a wide range of fruity flavors with innovative packaging in user-friendly twin's packs. It is essential for healthy bones in children (Hood, 2013). Yoplait yoghurt is a convenience product. Therefore, this category of product is chosen under study since it has a large market which it serves. On the other hand, it has a wider range of users throughout the country and worldwide making the product convenient for study since conducting the field study on the product itself is easy. As a product of choice, the products provide numerous brands and flavors making it easy to compare and contrast the nutritional disparities on any market setup. Yoplait yogurt has many attributes that make the product valuable to the consumer demands. Thus, analysis and evaluation of the products indicate a 98% fat-free composition, no added sugar as well as the taste attributed to it. Thus, this important attribute enables customers who require a brand with little fat and sugar levels to have a product as their best choice. In addition, it has a pro-biotic culture advantage that adds value in the digestion process. Therefore, it means that it has no complications on the digestive system thereby more useful for consumption (Pearce & Mark, 2009). Another important attribute is the absence of the artificial colors or flavors which have a chemical composition which may be harmful to the consumer's health. This attributes gives the consumers a greater urge to use it more conveniently. On the other hand, no preservatives are used to store the yoghurt limiting the anticipated harm to the customer's health. Lastly Yoplait yoghurt is available in tubs or squeezed pouches making it easy to be used by children (Hooley & Graham, 2012). Yogurt benefits to customers Yoplait yoghurt's core product is to provide calcium and vitamin D for strong bones in children. It is easily digestible; no artificial colors and flavors attributed to it which can lead to ill health in children. On the other hand, it contains different brand names such as Yoplait original, Yoplait light and Yoplait fruitful. It is packaged into a single, twin and quad packets for efficiency (Media, 2012). On a different point of view, It poses a non-physical aspect such as financing features. Therefore, it requires approximately small amounts of capital to buy single products. On the same note, the yogurt products are Stored in a cool and dry environment to avoid spoilage. Special offers are given in outlet retailers such as bags where you can carry it from the market to your home place (Lawrence & Anne, 2013). For consumers who buy it in large quantities, transportation and discount facilities are provided. However, Yoplait yoghurt has no effective brand; most brands have the same ingredients thus plays the same role despite the little difference in composition and packaging. Product packaging The product is packed in containers that have a metallic seal and opened by pulling off the metallic seal which have no tabs on them. Part of it is packed in containers which are tapered on the top unlike other companies whose tapering is at the bottom (Mullins & John, 2013). The packaging has a marketing function on this product since for containers that have tapered bottoms can easily be used by the users. Conversely, the availability of tabs on the metallic seal makes it easy to open the containers thus consumers will opt for such a brand. The writings on the containers indicate how significant the contents are, and the means of disposing of the container also play a very critical role in attracting the customers. Packaging delivers product differentiation from other similar products, and each container of the yoghurt products has a fruit flavor of the yogurt that distinguishes one flavor from the others (Kotler & Philip, 2012). packages The product life cycle Yoplait yogurt in Australia is at the saturation stage. This PLC classification is achieved because there is reduced advertising and sales are leveling off. There is also a period of stability and the sales have reached the peak. Thus, No possibility for further growth is being observed. On the other hand, other competitors are very accessible in the market leading to the emergence of other brands (Chitty, 211). Products promotion Yogurt products total consumption is estimated to at 13% in the year 2013, therefore, a landscape completion is realized between the two main competitors are the Pty Ltd‘s Ski brand and Lion Pty Ltd's Dairy Farmers. Yoplait company as a firm of high competition as indicated by the finding, it explores eroded market share consistently over years multiple product promotions over its competitors (Mullins & John, 2013). Firstly, the company concentrates mainly on dynamic yogurt formats of less value. In addition, it limits itself from high growth arrangements, for example, that from Greek yogurt and probiotic yogurt. Yoplait uses impersonal and personal communication system to reach their customers. Impersonal forms from the textbook definition point of view provide paid persuasive programs and services that promote the yogurt products. Personal services are also available to make direct customers contact or sales to increase through persuasion, communication and product demonstration as well as briefing on the products information (Lilien & Gary, 2012). Yoplait use Paid Impersonal and unpaid personal Communications forms of advertisement such as advertisement of the yogurt products. Retail communication mix, sales promotional as well as store atmosphere and websites products links are also available. Form of social media used Form of media used to provides local T.V channel, facebook links, magazines, articles, web link and newspapers. The social media are correctly name Mandarin T.V programs on yogurt consumption and digestion; Yoghurtland termed as a facebook link, frozen yogurt magazines, standard newspapers, flash, and Reuter reports respectively (Lawrence & Anne, 2013). Internet links such as yogurlandaustralia links, Courier mail websites and external social media such as Idaho Statesman achieve the promotional goal. Yoplait Company chose this social media because they provide a comprehensive coverage, the most used links in Australia as well as provides unique services that attractive most of the Australian citizens. These forms of communication are used to capture the market target in all segmentation form. Therefore, as the Yoplait Company targets the young children and young adults, Internet and facebook links captures their attention on the use of their products. Conversely, adult and other individuals concerned with their health status get the information on newspapers and T.V channels such as ADAD performance commercial television programs and Tasmanian Digital television. These types of communication channels chosen are sufficient enough to be implemented. Thus, the communication cover all market targets as intend by the Company objectives, goals, social media and other various communication channels are used by youths and young adults. The Yoplait firm uses both direct and indirect communication as well as on-line communications to provide all the information about the uses and importance of yogurt in health. It uses these services to increase personal relationship as well as explaining all contradicting information about the products such as pricing, packages and new brands. New media used include www.facebook.com/YogurtlandAustralia and https://twitter.com/NoosaYoghurt. Different product communication messages ensure the new product data are available to customers; sale information is clearly and accurately recorded and labeled in the products. On similar accounts, product sponsorships information mainly from the United States and United Kingdom are also given (Kotler & Philip, 2012). Last but not least, the marketing mix that covers other three P's for example product pricing, product and place is also given clearly as indicated in each part. Communication provides how the yogurt products are introduced in the market grow to reach maturity and finally predicts the decline in the product's PLC. Place (Distribution) The Company uses direct and indirect distribution strategy as selected distribution channels. Thus, these signify a more than one distribution strategic method available in Yoplait firm. These strategic methods are preferred overweight other distribution strategies because it gives the Company complete control over their product as well as giving room for customers to choose a variety of their product. The two distribution strategy chosen, assists the clients in satisfying their needs in the target market by reduced product cost and product education. Other related information, as well as convenience for customer's consumption, are available 24 hours a day anywhere in the global market (Chitty, 211). Conversely, Yoplait firm distributes their yogurt products using online marketing available in the global market. Thus, this is because the Company intends to connect global consumers with their product. Web-based channel provides several benefits such as low overhead and global potential reach. The particular retailers used by the Yoplait Company are Colse and Woolworth retailers, these retailers serve as outlets for their yogurt products as well as services. On broad aspects, on evaluation of these retailers of choice, it was found that, these retailers rank high on serving the customers in terms of the 4Ps of the business mix. On the product distribution strategy, the retailers of choice are appropriate in the PLC stage of the product since the Company itself it’s in the saturation stage (Lawrence & Anne, 2013). Pricing strategies. Yoplait Company’s pricing strategy for its products range from quantities to brands. Large quantities sold in packets and grams units are sold at a relatively high prices compared to low quantities. Prices as per 26/8/2014 Colse retailers Woolworth retailers 1kg was $5.89 save $ 1.89 now $4 $0.40per 100g Yoplait 6*175g was $5.99 down $0.99 now $5 $0.48 per 100g Yoplait 12pk Dairy classic yogurt 1200gram $7.99 $0.67 per 100g Kids Dy yogurt blueberry 70gram any 4for $5 $1.79 per 100g 1 for $1.35 $1.93 per 100g 1kg $5.89 $0.59 per 100g 12*100g $8.30 $0.69 per 100g 6*175g $4.99 $0.48 per 100g Petit miam strawberry yoghurt's 100g $1.69per 100g $1.69 Comparing the Company pricing systems in terms of quantities and sizes with their competitors, their pricing systems are relatively affordable and client friendly. These reasons make the Yoplait company out-compete their main competitors. Competitors long chains of product distribution make their products expensive even though the have the same quality and quantity compared to the Yoplait yogurt firms. The prices relate to one another relatively to quantities and sizes. Thus, the prices strategies are consistent with the PLC stage of the yogurt products as well as the Company's strategy for the other 3 Ps market mix. Competitive advantage Marketing Mix as an auditing plan reviews a combination of four common elements, in simple words, the Product, Price, Promotion and the Place are the main factors studied. Thus, to create a trusted marketing strategy, business behavioral effects as well as the business resources. On the other hand, the marketing manager ought to evaluate yogurt market behavioral forces and the resources available to come up with a competitive advantage that meets the four elements (Hood, 2013). Further, analysis and assessment reveal theoretical approach on speculating percentage in relation to product planning that correlates effectively with pricing, physical distribution as well as promotional efforts. Variation of the Yogurt products, limits products uniformity, thereby providing an effective market composition that contains variable marketing mix. Estimations indicated that limited confusion and adequate understanding of the components of the four elements is well-understood. The charging environment with dynamic and flexible market concepts circulates around the customer's needs and preferences of the company's products. On the other hand, other forces such as market forces, market situation and government policies all favor the Company's existence (Bowman & Douglas, 2010). Yoplait yogurt Company identifies its target customers by carrying out a proper market research that provides customers expectation discoveries on products consumption and pricing changes. The Companies uses foresighted approach initiating the customer as the central point to reach a competitive advantage. Thus, their marketing management systems ensure the right product consumed features the good market price, bought at the right place and time. In addition, marketing mix strategies that follow the 4p's provide a competitive advantage over their opponents. The product mix competitive advantage As market starting point, the products and services have to be market competitive. Therefore, the Yoplait Company's products combine different qualities to make it competitive. These attributes give the Company an upper hand over it competitor as indicated by, the physical factors on their products (Mayer & Thierry, 2011). The physical features of their products such as color, product design, physical features, as well as their products performance, provide a competitive advantage. On further research, it was collectively noted that, non-physical factors such the product value and quality of the Company's products cannot be sidelined. Therefore, to maintain this high score, the Company reviews its Product planning strategies on the product market efficiently. Price mix competitive advantage. (Shurtleff& William, 2012) The customer payment for yogurt products provides a competitive advantage when comparing final price results. These are seen by the cost of material used for yogurt products, yogurt product differentiation and the market shares experienced (Pearce & Mark, 2009). Therefore, the decision related to the value seeks to out-compete the opponents effectively in products distribution, sale promotion and other factors. The company uses price skimming strategies to recover its cost expenditures efficiently by increasing its sales revenue. Penetrative pricing creates broad market allowing the yogurt company to raise the price of its product. On the other hand, relative high-charged create a psychological pricing that makes the product more appealing to the consumers than the products from the competitors. Place mix competitive advantage The yogurt Australian Company has an effective distribution channel of its products from the physical store to virtual stores. Thus, retail and the retailers of the Company have a closer relationship to customers than the opponents provided by the variety of different brands do. The wholesalers reduce the product prices to fit the customers. Direct sales and Internet services on the products improves the products consumption as well as the multichannel used to target the market demand (Kahraman, & Cengiz, 2012). Promotion Mix competitive advantage. The product promotion activities initiated by the Yoplait Company are unique compared by their competitor. Thus, the company meets it's identified needs of the target customers. The special offers, products endorsement, as well as its unique advertisement techniques, provide online provide a competitive advantage (Pearce & Mark, 2009). Conclusion The audit report presented in this document provide a review of the past marketing mix evaluation, the present assessment and future of all the Marketing Mix evaluated and audited. The 4p's approach and strategies are used for competitive advantage to be realized in the audit (O'Kane & Brian, 2011). Thus, report provides a wide range of consideration using the Marketing Mix of 4P's approach before evaluating and assessing all factors that impacts and affects the business success. To expose this as the biggest challenge, today's marketing experts and professionals need to design a competitive marketing mix that meets the customer's satisfaction as well as the business objectives. As a business turning point, all the elements and factors of marketing mix need to be creatively and critically be studied and analyzed as a single unit. Promotional tools and equipment designed for a particular business have to base on the type of product present in a competitive market and the price charged on that particular products (Shurtleff & William, 2012). The procedure followed to reach the regular and irregular customer should also feature in the quoted price of the product. Conversely, the manufacturing and the promotion cost should also be part of the cost incurred along the distribution channels. On broad aspects, the marketing manager and all business oriented personnel in high level should be included in determining the marketing mix strategy. Thus, the 4 P's approach incorporated in the marketing mix provides a critical role in attaining an appropriate competitive advantage for any business organization (Media, 2012). Therefore, the entire Yoplait Yoghurt marketing managers should use all the information provided in this report as a baseline towards meeting different markets demands as well as matching the present competition market trends to provide customer satisfaction (Mayer & Thierry, 2011). In long-run, this thought is only made possible if all the elements 4P's of the marketing mix are accurately blended to achieve the Yoplait Company's markets goals, maximum profits as well as higher market shares. References Lawrence, Anne T, and James Weber. Business and Society: Stakeholders, Ethics, Public Policy. , 2013. Print. Mullins, John W, and Orville C. Walker. Marketing Management: A Strategic Decision-Making Approach. New York: McGraw-Hill, 2013. Print Allen, D E, and Robert J. Powell. The Fluctuating Default Risk of Australian Banks. Joondalup, W.A: School of Accounting, Economics and Finance, Edith Cowan University, 2010. Jobber, David, and Chadwick F. Ellis-. Principles and Practice of Marketing. Maidenhead: McGraw-Hill Higher Education, 2013. Print Lilien, Gary L, and Rajdeep Grewal. Handbook of Business-to-Business Marketing. Cheltenham: Edward Elgar Pub, 2012 Hooley, Graham J, Nigel Piercy, and Brigitte Nicoulaud. Marketing Strategy & Competitive Positioning. Harlow, England: Pearson Financial Times/Prentice Hall, 2012. Print. Kotler, Philip, and Gary Armstrong. Principles of Marketing. Boston: Pearson Prentice Hall, 2012. Print. Hood, David J. Competitive Sme: Building Competitive Advantage Through Marketing Excellence for Small to Medium Sized Enterprises. London: Kogan Page, 2013 Bowman, Douglas, and Hubert Gatignon. Market Response and Marketing Mix Models: Trends and Research Opportunities. Boston: Now, 2010 Mayer, Thierry, Marc J. Melitz, and Gianmarco I. P. Ottaviano. Market Size, Competition, and the Product Mix of Exporters. Cambridge, Mass: National Bureau of Economic Research, 2011 Kahraman, Cengiz, Etienne E. Kerre, and Faik T. Bozbura. Uncertainty Modeling in Knowledge Engineering and Decision Making: Proceedings of the 10th International Flins Conference, Istanbul, Turkey, 26-29 August 2012. Singapore: World Scientific Pub. Co, 2012. Print. Pearce, Mark, and Louisa Dent. The Four P's Marketing Strategies. Bendigo, Vic: Video Education Australiasia, 2009 Media, BPP L. Cim 1 Marketing Essentials 2012: Study Text. London: BPP Learning Media, 2012. O'Kane, Brian. Marketing Basics. Cork: Oak Tree Press, 2011. Chitty, William. Integrated Marketing Communication. South Melbourne, Vic: Cengage Learning, 2011. Print. Shurtleff, William, and Akiko Aoyagi. History of Soy Yogurt, Soy Acidophilus Milk and Other Cultured Soymilks (1918 to 2012): Extensively Annotated Bibliography and Sourcebook. Lafayette, CA: Soyinfo Center, 2012 Read More