BUS1200MarketingTurnitin

BUS1200MarketingTurnitin - Marketing Management Report...

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Marketing Management Report TOPPITS FOODS LTD. By: Shanni Deng Andrew Hines Business 1220 001, Monday Wednesday Friday 8:30am - 9:30am Executive Summary Sarah Gremont is employed at Toppits Foods Ltd. as the vice-president of Brand Strategy and Business Development. Gremont, who is responsible for promoting the company’s garlic and herb cubes business, has decided to alter her promotional method after witnessing only marginal returns on the product for the past few years. Gremont’s current challenges include: Maximizing sales at current locations to avoid being de-listed Promoting product awareness to secure new customers while ensuring returning customers
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Identifying the necessary changes that must be made to the previous marketing plan, specifically: o Distribution into new channels, o Changing suppliers, or o Changing focus of the present promotional campaign. Although many combinations of options are available, Gremont must work within her given marketing budget of $200,000. In order to best allocate the resource, however, Gremont must first review the strengths, weaknesses, opportunities, and threats faced by the company. A scan of Toppits’ past performances and its environment revealed the following: Promotional methods were costly, numerous, and lacked in focus The 2005 budget was not used entirely More popular segments of the grocery industry have emerged and are superseding traditional grocery stores The societal lean toward a healthier lifestyle compliments the cubes Competitors exist, but none offers the uniqueness of the cubes The biggest prospect remains women aged 25-54 From Toppits’ internal analysis, the connection between past inefficiency and current minimal sales is evident. Gremont should use all $200,000 in 2006 to maximize promotion and public knowledge of the product. She should also branch out to growing segments of the grocery industry such as warehouses and mass merchandisers, seeing as less and less consumers are making trips to traditional grocery stores. Given the societal attitude toward health, the quality of the cubes should not be compromised and Gremont should dismiss the idea of switching to a Chinese supplier. The competitive analysis revealed that Toppits has a competitive advantage in all areas except price, suggesting that a target market selection of working women between the ages of 25-54 is the best possible choice. Since busy women would like to save time shopping as well, the appearance of the cube trays should reflect their contents. In determining the price for the product, retail selling price perception must be taken into consideration. Varying the price between grocery stores, warehouses, and mass merchandisers can monitor consumer loyalty, as a lower bulk price will give first-time users from other outlets the incentive to purchase more. To accommodate the responsiveness of the new target market, costs of television advertisements and food festivals should be used toward collaborating with Wal-Mart. The new carriers, growing
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BUS1200MarketingTurnitin - Marketing Management Report...

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