BSB 126 MARKETING PLAN - BSB 126 MARKETING PLAN Biscoff...

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BSB 126 MARKETING PLAN Biscoff European Cookie Spread NAME: Lina Dai STUDENT NUMBER: 9193995 Word Count: 1698 1
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CONTENTS PAGE I. SITUATION ANALYSIS ........................................................................................................................... 3 II. MARKETING GOAL ............................................................................................................................. 4 III. MARKETING STRATEGY ..................................................................................................................... 4 Target Customers ............................................................................................................................... 4 Value Proposition ............................................................................................................................... 5 IV. MARKETING TACTICS ......................................................................................................................... 5 Product .............................................................................................................................................. 5 Price ................................................................................................................................................... 6 Distribution ........................................................................................................................................ 6 Promotion .......................................................................................................................................... 7 V. REFERENCES ....................................................................................................................................... 9 VI. APPENDICES ................................................................................................................................... 11 Figure 1: ........................................................................................................................................... 11 Figure 2: ........................................................................................................................................... 11 Figure 3: ........................................................................................................................................... 12 Figure 4: ........................................................................................................................................... 12 2
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I. SITUATION ANALYSIS Biscoff European Cookie Spread is an irresistible, spreadable treat made from spice cookies also known as speculoos cookies in Belgium is trending at the moment as the must have spread. Just like the Biscoff Cookies, the Biscoff Spread is both produced in Lotus Bakeries Lembeke Plant in Belgium (Biscoff, 2015). This worldwide recognised brand name and exceptional public reception and awareness is moving this product to consumer’s number one preferred spread. Also in today’s fitness trends, many trainers and fitness bloggers has recommended cookie spread as an alternative to peanut butter and nutella (Fitness, Health and Everything Else, 2014). In a blind taste test against its strongest competitor brand, Biscoff Cookie spread achieved best-rated cookie spread (Miaminewtimes, 2013). Biscoff Cookie spread, is a decadent treat that has gained a cult following worldwide over the last few years (Goldberg, 2015). This peanut butter alternative spread has currently thousands of twitter posts (See figure 1) and Instagram posts (See figure 2) using the #biscoffcookiespread and the #biscofspread hash tag, with the vast majority being taken with the cookie spread in the frame or a completed baked good with the Biscoff Cookie Spread used as an ingredient. Most of the related comments are along the lines of, “absolute best” and “new addiction” (Twitter) (Instagram). The Biscoff Cookies was introduced in 2006 and was distributed to Kroger and Walgreens, the first two mainstream retailers in America and within a year the cookie spread or speculoos production distribution was increased from two retailers to multiple retailers in America such as Walmart, Safeway, Cost Plus World Market, CVS and Rite Aid (Biscoff, 2015). In 2011, The Biscoff Cookie Spread made its American debut and since 2013 the Lotus Biscoff continues to lead more than 1,200 acquaintances worldwide, including Australia (Biscoff, 2015). Through these facts, it is clear that the request for this product is growing worldwide. Some of the strong competitor brands of spreads include Trader Joes, Nutella, Kraft, Vegemite and Australian Coles and Woolworth Homebrand Spreads (Amazon, 2015) (Coles, 2015) (Woolworth, 2015). These products are all more frequently available throughout Australia. As of present Biscoff Cookie Spread is only accessible online with no product 3
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distribution to retail stores. The price gap between its competitors is somewhat similar or steep. Trader Joes Speculoos products has a very similar price range as Biscoff Cookie spread with both spread products average at around $14- $15/ 400g while other spreads like Nutella, Kraft and Vegemite spread products average at $3- $6/ 400g (Walmart, 2015). This
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