Innocent Drinks in the UK - Research Proposal Example

Innocent Drinks in the UK Introduction Adam Balon, Richard Reed together with Jon Wright established the Innocent Drinks back in 1999. The company sells innocent smoothies that are made of 100% combined pure fruits with no sugar, additives nor concentrates. The owners of Innocent Drinks bought its first £500 worth of fruits, turned it into smoothies, and sold the smoothies at £1.80 each from a stall in a London festival. (Innocent, 2008a; Hickman, 2007; Money Week, 2006) Today, the company was able to capture roughly 72% of the market share of smoothies. At an average, the company is selling approximately £2 million worth of smoothies each week making Innocent Drinks earn as much as £96M as of 2007. (Innocent, 2008b; MySpace News, 2007; Hickman, 2007; Scott, 2007) For the purpose of this study, the researcher will apply some of the available strategic models in examining the internal and external factors that has contributed to he success of Innocent Drinks. First, the researcher will apply the PESTLE, Porter’s Five Forces, Opportunities and Threats model to critically analyze the external factors within the period of 1999 – 2007 that made Innocent Drinks able to grab the biggest market share from its competitors. Using the Strength model, the researcher will critically evaluate the effectiveness of the business strategies used by Innocent Drinks between the period of 2002 – 2007. Eventually, the researcher will assess and discuss the impact of Innocent Drinks’ stakeholder pressure on the organization in terms of how Adam Balon, Richard Reed and Jon Wright might have affected the strategies they have chosen followed by analysing the relative power and interest of the three business owners. Using the Options Matrix, the researcher will also evaluate and discuss whether the future strategies of Innocent Drinks should either be based on fit or stretch strategies. As part of discussion, the researcher will discuss the impact of external factors and its direct effects to the changes on the competitive behaviour within the same industry. External Factors that Affects the Success of Innocent Drinks within the Smoothies Industry during the Period 1999 – 2007 PESTLE PESTLE, which stands for ‘Political, Economic, Social, Technological, Legal, and Environmental analysis’ (TVU, 2007), will be used in illustrating the macro-environmental aspects of Innocent Drinks. Political Climate UK food and drink industries are highly regulated by several government agencies. In line with this matter, food and drink industry in the United Kingdom is highly regulated by Food Standard Agency in order to protect the health and consumers’ interests when it comes to food safety, nutrition, proper labelling and packaging of foods (FSA, 2008a) whereas the Department for Environment Food and Rural Affairs (Defra) ensures that there is a fair competition within the different companies under the food and drink industry by removing any potential obstacles in growth of business (Defra, 2008). Innocent Drinks implemented an e-petition to lower down the Value Added Taxes (VAT) on fruit juices and smoothies down from the usual 17.5% to 5% as a way of encouraging the people to enjoy healthy diets. (Fleming, 2008) Economic Factors UK economy has grown fast during the past three years. As of 2007, there has been a 3.1% growth rate in UK economy. (BBC News, 2008) Since January 2007 up to the March 2008, the employment rate has been increasing at 0.3% making the unemployment rate decrease down by 0.2%. (National Statistics, 2008) As of the end of first quarter 2008, UK employment rate has increased to 74.9%. Basically, the increase in UK employment rate shows that there is a growing demand for products and services within and outside the country. Even though UK’s exchange rate has declined a little, UK manages to maintain a high productivity and employment rate. (Williams, 2008) (See Figure I – UK Productivity is Recovering on page 22; Figure II – UK Employment Rate Increases on page 23) Social or Socio-demographic Trend With an average growth rate of 0.5% each year, the total population in the United Kingdom has reached approximately 60.587 million as of 2006. (National Statistics, 2007) Basically, UK population is already ageing. (Jeavans, 2004) With the growth rate of 1% each year, individuals who are 85 years old and above is composed on 6% of the total population (1,243,000) whereas individuals below 16 years of age decreased by 0.4% (11,537,000) during the same year. (National Statistics, 2007) (See Table I – Population Changes in UK on page 26) Due to tight competition in the market, most of the employed individuals in UK often have a very busy and fast-paced lifestyle. (Mobile Age, 2007) Despite the work-related stress, a big portion of the UK population are health conscious and concern with the main source of their food and drinks. (FDF, 2008) Technological Trend Majority of the local companies that manufacture fruit drinks or smoothies are highly dependent on technologies related to 100% recycled PET or glass-made bottles as well as tetra pack. (Harpers, 2007) This technology contributes a lot to the products’ packaging. Aside from the packaging technology, companies that manufacture drinks are also dependent on the use of food nutrient data laboratory to determine the nutritional content of the drinks sold in UK market. (Mehrotra, 2008) Legal Aspects Given that Innocent Drinks fail to comply with the provisions of Regulation (EC) No. 178/2002 with regards to food safety requirements, food presentation, traceability of Innocent Smoothies based on its manufactured date and market distribution1 including other responsibilities related to proper handling of foods, Innocent Drinks and other food and drink manufacturers can be held liable on conviction to a fine of £20,000 or imprisonment for a maximum of two years or both depending on the degree of violation. (Johnson, 2004) Environmental Factors The proper management of food and drinks’ packaging waste in UK is enforced with EC directive 94/62/EC which aims to minimize the negative impact of packaging wastes on the environment by encouraging the local citizens including the food and beverage manufacturers to make an effort in recovering and recycling these waste materials including the use of only recyclable packaging meterials. (Defra, 2003) (See Appendix I – PESTLE Analysis: Innocent Drinks in UK on page 18) Porter’s Five Forces Upon using the Porter’s Five Forces Model, it is very clear that there is a high threat of new entrants within the smoothies industry in UK. This is because of the relatively low capital requirement needed in establishing a smoothie company. For this reason, it is very easy for any of the existing domestic and international food and beverages manufacturers or new business player to penetrate the industry. Among the well-known competitors of Innocent Drinks throughout the United Kingdom includes: (1) Pete & Johnny Smoothies; (2) The Feel Good Drinks Co., (3) Odwalla (owned by Coca-Cola); and (4) Naked Juice (owned by PepsiCo.). (Laurent, 2007; PR Newswire, 2004) As of 2004, the biggest competitor of Innocent Drinks is Pete & Johnny with 28% of the market share. (PR Newswire, 2004) In 2007, the market share of Pete & Johnny was down to 13%. (MySpace News, 2007) In general, having a lot of players within the same industry is not a good on the part of a company since it will create more business rivalry or competitor in the business. The bargaining power of buyers or consumers including the threat of substitutes for Innocent smoothies is also high. Given that there are a lot of other domestic and foreign food and beverages company that manufacturers of a significantly cheaper fruit juices and smoothies, the customers of Innocent Drinks could easily search for a similar product manufactured by other companies given that Innocent Drinks’ consumers becomes dissatisfied with the product and services offered by the company. The bargaining power of suppliers remains low due to the fact that Innocent Smoothies could easily find other sources of good quality and much cheaper fruits as a result of globalisation. Basically, the availability of e-commerce and the continuous promotion of World Trade Organization to lower down the import and export tariff rates make it easier for the Innocent Drink to have a ready access to cheaper and better quality varieties of fruits. (WTO, n.d.) (See Appendix II – Porter’s Five Forces Model: Innocent Drinks on page 19) Effectiveness of Innocent Drinks’ Business Strategies between 2002 – 2007 Using the strength model, the researcher will discuss the effectiveness of Innocent Drinks’ business strategies that made the company the number one manufacturer and seller of Smoothies throughout the United Kingdom. Strength of Innocent Drinks The Product Itself Sells Innocent Drinks was able to develop a product that is unique from the smoothies manufactured by other companies. Basically, Innocent Smoothies are made of 100% natural fruits without the use of sugar nor other additives. Aside from having a good tastes and nutrients that the product gives to its target consumers (Innocent, 2008j), Innocent Smoothies as a product sells itself to health conscious individuals all over the country (Michael on Speed Reading, 2007) including those young individuals with a mobile lifestyle (Mobile Age, 2007). For this reason, the buyers’ readiness to purchase the product significantly increases over time. Good Marketing Techniques Used in Positioning Innocent Smoothies in the Market The marketing techniques used by Innocent Drinks in terms of positioning the Innocent Smoothies as ‘healthier fruit drink designed for people with busy lifestyle’ as compared to the smoothies produced by other similar company has been very effective in convincing the local consumers to purchase Innocent Smoothies despite its higher market price per bottle. (Scott, 2007) Since Innocent Drinks’ selling products made of different kinds of fruits as its main ingredients, the company manages to effectively promote the consumption of their different product lines as 24-hour food and drinks for breakfast, lunch, snacks and dinner. The company also manages to promote some of their product lines as ‘superfoods’ which has the capacity to act as: (1) a natural detox for the human body (Innocent, 2008h), a natural vitamin C supplement (Innocent, 2008h); and as a natural slow-releasing energy drink (Innocent, 2008i). Outstanding Product-Life-Cycle Strategy Innocent Drinks makes it a practice to continuously produce different new smoothie recipe in order to attract new consumers to patronage its product. Back in 1999, Innocent Drinks started with only 3 different smoothie recipe. Eight years after, the company has introduced a total of 30 smoothie recipe in the market. (Innocent, 2008b) The common smoothie flavours offered by Innocent Drinks include: the combination of: (1) cranberries & raspberries; (2) strawberries & bananas; (3) blackberries, raspberries & boysenberries; (4) oranges, bananas & pineapples; (5) mangoes & passion fruit; and (6) pineapples, bananas & coconuts. (Innocent, 2008c) As soon as a product reaches the maturity stage, the profitability of the company also declines. (Kotler, 2000: 303 - 313) Aiming to maintain the product-life-cycle of Innocent Smoothies, the company has been promoting ‘Our Smoothie of the Month’ or ‘Seasonal Smootie’. (Innocent, 2008c, 2008e) Effective Advertisement Using Innocent Drinks Packaging, Extra-Ordinary Vehicle, and Special Annual Events The packaging used for Innocent Smoothies are made of different attractive recyclable packaging materials designed for each target consumer. (YouthXchange, 2008; Reed, 2007) For individual consumer, Innocent Smoothies are made available in 250ml PET bottles perfect for one-time consumption. (Innocent, 2008d) These recyclable bottles are designed for easy carrying to school, offices, and other recreational areas. For the family purposes, Innocent Drinks managed to design and develop a big 1 litre and 1.5 litre cartons that could make the smoothies last longer than in bottles. (Innocent, 2008e) To satisfy the specific needs of school children, Innocent Drinks developed new packaging designs exclusively for kids. (Innocent, 2008f) (See Figure III – Photos of Innocent Drinks Packaging on page 24) The modified vehicles they called ‘Cow Vans’ (CV); ‘Dancing Grass Vans’ (DGV); and ‘Tiny Grass Vans’ (TGV) were designed with horns, udders, tail and eyelashes to effectively call on the attention of its potential consumers. (Stallard, 2004) TGV are used only when there is a need for Innocent Drinks to make an emergency deliveries within the area. The driver of DGV would drive the vehicle around its target geographic market each day to sell Innocent Smoothies to its avid consumers. For this purpose, the side of each DGV were made of two large ‘side-windows’ to enable the driver to sell Innocent Smoothies from the inside of the van. (See Figure IV – Photos of ‘Cow Vans’ and ‘Dancing Grass Vans’ on page 25) The company is also implementing several yearly events to promote Innocent Smoothies to the public. Recently, Innocent Drinks announced the schedule for ‘Our London Fete’ which will be held at the Regent’s Park in London on August 2 & 3, 2008. (The Innocent Village Fete, 2008) This event is designed to promote the importance of family life. Therefore, some games, musical entertainment, food and drinks will be made available for the needs of the family members who will attend the special occasion. (You Tube, 2007) Being Honest with the Consumers with Regards to the Quality of Innocent Smoothies Most of Innocent Drinks’ competitors promised to give their consumers natural, pure and fresh fruit ingredients. (Stallard, 2004) However, most of Innocent’s competitors do not produce a 100% quality smoothies or fruit juices which they claim to deliver. In line with this matter, Dan Germain – the head of creative at Innocent stated that “Innocent’s competitors are selling something that doesn’t derive from nature.” (Computer Arts, n.d.) This is one of the main reasons why Innocent Drinks is using a clear bottle for its packaging. The clear bottle allows the consumers see through the contents of the drinks. (Computer Arts, n.d.) Innocent Drinks’ simplicity, honesty, and the freshness of smoothies the company is offering to its consumers that adds up to its’ increasing success. The fact that the company was able to make a unique personality of its brand makes more consumers attracted to its product. (Stallard, 2004) Weaknesses of Innocent Drinks The three young founders of Innocent Drinks does not have a real business experience with regards to going global or developing a brand. (Design Council, 2008) Basically, founders of Innocent Drinks were “young, had no experience running a business, no experience of the food & drinks industry” at the time these young entrepreneurs started the business. (Woolfrey, 2005) Opportunities of Innocent Drinks Even though the company has already planned to go global, the major countries that Innocent Drinks is serving as of 2008 includes the urban and suburban regions of Belgium, Denmark, France, Germany, Netherlands and Sweden. In line with this matter, the company still has a huge global market to penetrate. To easily penetrate the global market, Innocent Drinks has recently expanded its market by signing a partnership contract with Mc Donald’s. (Reed, 2007) Even though the said marketing strategy resulted to a debate in terms of the appropriateness of selling a Innocent nutritious drink in Mc Donald’s fast food restaurants, the research findings of the company shows that 72% of its regular drinkers are stronly supportive and 17% do not mind making the drinks readily available in Mc Donald’s fast food restaurant outlets as compared to 9% who are against such arrangements. Threats of Innocent Drinks A bad publicity on Innocent Smoothies is a threat to the company’s position as the top producers of smoothies throughout the United Kingdom. Since Innocent Drinks was able to rise up to be the leading producers of smoothies, it is unavoidable for some of its competitors to try to make an issue that could negatively affect the public brand awareness that the company was able to successfully establish over time. Bowman’s Strategy Clock Based on Bowman’s Strategy Clock, the product lines of Innocent Smoothies does not focus much on low price but on ‘focused differentiation’. Innocent Smoothies has the differentiation advantages of being the only Smoothies available in the market that is made of 100% pure combination of fruits. This allows the company to set its premium price as compared to its competitors’ price. (See Appendix IV – Bowman’s Strategy Clock on page 20) Impact of Innocent Drinks’ Stakeholder Pressure on the Organization Innocent Drinks’ stakeholders includes the busienss owners known as Adam Balon, Richard Reed, & Jon Wright; the customers, and employees. Among the three group of people, the business owners have the highest interests and power in making business strategic decisions. The good thing about the busienss owners is their ability to listen to the specific needs and wants of their target consumers. By doing so, the business owners are able to win the consumers’ long-term loyalty. In order to run the business properly, Innocent Drinks’ employees are given with lesser power in terms of making strategic business decision but are kept informed with the business owners’ business strategies to enable employees support the strategic plan. (See Appendix III – Power/Interest Grid for Innocent Drinks’ Stakeholders on page 20) Future Strategies of Innocent Drinks A strategically fit option to increase sales from its existing market and penetrate deeply into existing markets, Innocent Drinks enters into partnership with Mc Donald’s and maintain its existing retail outlets in groceries, offices, schools, etc. To sell Innocent Smoothies in new markets, Innocent Drinks’ strategic decision with regards to entering into partnership with Mc Donald’s is strategically ‘fit’ in the sense that the company could easily penetrate the global market at a much lower costs since there will be no need for the company to hire additional manpower which may require some trainings related to customer-orientation. This strategic move will save a lot of unnecessary long-term operational expenses aside from the fact that this strategy is the easiest and fastest way to deliver Innocent Smoothies in global markets. Partnership with Mc Donald’s also contributes in the diversification strategy of Innocent Drinks when it comes to selling new products in new markets. To sell new product developed for existing markets, Innocent Drinks introduced ‘Our Smoothie of the Month’ and ‘Seasonal Smoothie’ in the market. (Innocent, 2008c, 2008e) (See Appendix V – Ansoff’s Matrix on page 21) A more promising long-term strategic move is to continuously encourage people to support the company’s e-petition to lower down the value added taxes (VAT) rate on fruit juices and smoothies. This is a good strategic ‘stretch’ since lowering down the VAT rate from 17.5% to 5% could enable the consumers to purchase more Innocent Smoothies in the future. This will provide the company a bigger opportunity to earn more profit from its annual sales. (See Table II – Analytical Options Matrix on page 27) Discussion External factors could either make or break a company’s brand equity. In line with this matter, the management behind Innocent Drinks make sure that the company immediately act on any negative external issues that could either directly or indirectly harm the company’s profitability or brand equity. Aside from the strong marketing strategy that Innocent Drinks have been using in the past nine years, the company’s social commitment such as the massive campaign in order to provide the older generation with financial support, the family outings annual event, including other charity works (YouthXchange, 2008) enables the company to surpass all forms of external factors that could make the consumers boycott Innocent Smoothies. For instance, PepsiCo and Smoothie Revolution Ltd. recently made a public criticism with regards to the nutritional claims of Innocent. (Sky News, 2008) In another occasion, Odwalla – a sister company of Coca-Cola and Naked Juice under PepsiCo. accused Innocent for not being honest with regards to Innocent’s superfoods for its ‘natural detox’ content. (Laurent, 2007) Conclusion The use of strategic models enables us to easily understand and analyze the internal and external forces that could directly or indirectly affect the business performance of Innocent Drinks. By using these strategic tools, business owners and managers could continuously make some actions that could promote the success of Innocent Drinks throughout the entire geographic markets within and outside the UK. *** End *** Appendix I - PESTLE Analysis: Innocent Drinks in UK Political Economic Social Food Standard Agency protects the public’s health and consumers’ interest when it comes to food safety, nutrition, proper labelling and packaging among others. (FSA, 2008a) 3.1% growth rate in UK economy as of 2007. (BBC News, 2008) Total population in the United Kingdom has reached approximately 60.587 million as of 2006. (National Statistics, 2007) Department for Environment Food and Rural Affairs (Defra) ensures that there is a fair competition within the different companies under the food and drink industry by removing any potential obstacles in growth of business (Defra, 2008) UK employment rate has been increasing at 0.3% making the unemployment rate decrease down by 0.2%. (National Statistics, 2008) Employed individuals have busy and fast-paced lifestyle. (Mobile Age, 2007) Fruit juice and smoothies manufacturers such as Innocent Drinks have been proposing a 17.5% down to 5% tax rate from the UK government. (Fleming, 2008) UK exchange rate declines. (Williams, 2008) Consumers in UK are health conscious and concerned with the main source of their food and drinks. (FDF, 2008) Technological Legal Environmental Technologies related to 100% recycled PET or glass-made bottles as well as tetra pack and laboratories to tests the nutrient content of the drinks. (Mehrotra, 2008) Food and drink manufacturers who fail to comply with the provition of Regulation (EC) No. 178/2002 can be held liable on conviction to a fine of £20,000 or imprisonment for a maximum of two years or both depending on the degree of violation. (Johnson, 2004) EC directive 94/62/EC which aims to minimize the negative impact of packaging wastes on the environment. (Defra, 2003) Appendix II - Porter’s Five Forces Model: Innocent Drinks Appendix III – Power/Interest Grid for Innocent Drinks’ Stakeholders Source: Mind Tools, 2008 Appendix IV – Bowman’s Strategy Clock Source: Marketing Teacher, 2000 Appendix VI – Ansoff’s Matrix: Innocent Drinks Existing Product New Product Existing Market Market Penetration To increase sales to its existing market and penetrate deeply into existing markets, Innocent Drink enters into partnership with Mc Donald’s, as well as maintain its existing retail outlets in groceries, offices, schools, etc. Product Development To sell new product developed for existing markets, Innocent Drinks introduced ‘Our Smoothie of the Month’ and ‘Seasonal Smoothie’ in the market. (Innocent, 2008c, 2008e) New Market Market Development To sell Innocent Smoothies in new markets, Innocent Drinks entered into partnership with Mc Donald’s. Diversification To sell ‘Our Smoothie of the Month’ and ‘Seasonal Smoothie’ in new markets, Innocent Drinks entered into partnership with Mc Donald’s. Source: Tutor2u, 2008 Figure I – UK Productivity is Recovering Source: FXStreet.com, 2008 Figure II – UK Employment Rate Increases Source: National Statistics, 2008 Figure III – Photos of Innocent Drinks Packaging Source: Innocent Drinks, 2008 Figure IV – Photos of ‘Cow Vans’ and ‘Dancing Grass Vans’ Source: Innocent Drinks, 2008 Table I – Population Changes in UK Source: National Statistics, 2007 Table II – Analytical Options Matrix Option 1 – Continuously Deal with Mc Donald’s to Market Innocent Smoothies Option 2 – Continuously Encourage People to Support the Company’s E-Petition to Lower Down VAT Rate on Fruit Juices and Smoothies Costs Lowest cost since Innocent Drinks and Mc Donald’s can just share the profits from the sales of Innocent Smoothies. This will save a lot of market distribution costs on the part of Innocent Drinks. Non-monetary costs will be the strong support of people in UK. This strategy can be costly on the part of Innocent Smoothies since there could be some legal matters that requires some money. Turn-Around Time Fastest strategic move in terms of being able to market Innocent Smoothies within the shortest period of time. This strategic move will take a longer time to materialize. ROI ROI will be much higher since Innocent Drinks could avoid hiring additional manpower and investing on more vehicles, training expenses, or putting up stalls to sell Innocent Smoothies. ROI on this strategic move is high since the company will be expecting a higher profit coming from the expected increase in sales. References: BBC News. (2008, January 23). 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