Tuesday, May 5, 2020
Perfetto Juice Company
Question: Describe about the Perfetto Juice Company?. Answer: Perfetto Juice Company is operating their business in non-carbonated drinks segment that are more focused on the healthier drinks for their customer. Therefore, the factors like customers choice, customer profile, product preference and product availability will come in consideration while targeting a market segment for the fruit juice. The target segment of the fruit juice will be kid first because they have more attraction towards the drink and their guardian will also prefer to provide a healthier drink every time (Ngo et al. 2013). The target segment will also focus on those customers who are highly concerned about their health and do not prefer carbonated drinks. The factors that are influencing the target segment is also the product availability because it will ensure that the target segment will get the product whenever they need. Global business is affected by the recession that has resulted in low volume of the business due to the lower buying capacity of the consumer. Roe of pricing strategy is very important in this situation because company has to sell their product to achieve the organizational objective. The role of pricing strategy in the time of recession is to minimize the profit margin to enhance the affordability to the consumer. The amount of discounts in the bulk purchase should increase, so that buyer consumes more number of drinks. The pricing strategy of the company will therefore play a big role to increase the overall sales (Foxall et al. 2013). The role of pricing strategy is also to increase the competitive advantage in the market as compared to the competitors by reducing the price so that customer prefers to buy it. Perfetto Juice Company has integrated their marketing activities with the corporate social responsibility to get the advantage of ethical consumerism. In their promotional activity, Perfetto Juice has initiated to promote their product in the summer Olympic game where many participants and tourist comes. It will be the biggest advantage for them to advertise the product in such platform that will get the international exposure. The company has also integrated the product quality and the ethical way of their business in their promotional activity. This type of strategy will help the organization to achieve the marketing objective because customers will attach emotionally with the company and their product (Darmon and Drewnowski 2015). The promotional activity of the company also integrates the change in the packaging that is also a scope to communicate to the customers. The change in the packaging provides the opportunity to attract customer every time with the same product. Considering the marketing mix of the product Perfetto Juice Company has implemented the 4Ps of marketing in a different way that is described below. Product The Company has chosen a different product that is produced in a ethical way for their business. The non-carbonated drinks are not getting the advantage therefore, they have chosen a unique fruit juice as their product that has high probability of getting popularity. Price The pricing strategy of the company also differs from the conventional products. The company is using discounts printed in their new packaging that last for three months. Therefore, they are able to sell their product in bulk. Particularly in time of recession, they provide more discounts on bulk purchase that increases the sales. Promotion The promotional activity of the company is associated with the customers emotion therefore attachments builds. The promotion also ensures to inform about the product quality and processing (Dang 2014). Place Products are highly available in 15 countries that help customers to get product whenever they need. Reference List Dang, T., 2014. The success of applying marketing mix 4Ps in Vietnamese dairy industry: Vinamilka typical case. Darmon, N. and Drewnowski, A., 2015. Contribution of food prices and diet cost to socioeconomic disparities in diet quality and health: a systematic review and analysis.Nutrition reviews, p.nuv027. Foxall, G.R., Yan, J., Oliveira-Castro, J.M. and Wells, V.K., 2013. Brand-related and situational influences on demand elasticity.Journal of Business Research,66(1), pp.73-81. Ngo, M.K., Velasco, C., Salgado, A., Boehm, E., ONeill, D. and Spence, C., 2013. Assessing crossmodal correspondences in exotic fruit juices: The case of shape and sound symbolism.Food quality and preference,28(1), pp.361-369.