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Marketing Plan Of Bega Cheese

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Question:

Discuss about the Marketing Plan of Bega Cheese ?
 
 

Answer :

Introduction

The Australian Dairy market consists of various food items and substitute products[1]. Bega Cheese Ltd. is one of the marker leaders in the Dairy industry in Australia having variety of cheeses and health supplements. Bega Cheese mainly concentrates to the variation of taste and texture of cheese focusing on the preferences of all age group[2].

This report assesses a marketing planning for achieving the objectives of Bega Cheese. The report discusses the present capabilities and resources support of the firm. The present marketing strategies are also a part of discussion in this report.

In the first part, the report discusses the marketing objectives of Bega Cheese and analysis the strength and opportunities of Bega with SWOT framework. Along with that, the report discusses the marketing opportunities in Australia for a dairy firm. In the last part, the report also assesses new marketing strategies along with a marketing planning.

Marketing Objectives of Bega Cheese

The marketing objectives of any company define its vision and corporate goals with respect to realistic timeframes along with the required process structure[3].

The corporate objectives of Bega Cheese Ltd. are as follows-

  • The business operations of Bega focus on strong business outcomes;
  • Bega always values the suppliers and corporate partners;
  • It always focuses on the customers’ benefits rather that own profits[4];
  • Bega thrives for betterment of each operations in business;
  • Perfection of every activity in first attempt is the main moto;
  • Increasing market share along with maintaining good brand image[5];

 The marketing objectives of Bega Cheese aligned with the corporate objectives are as follows-

  • Increase in market share & profit:

Increasing market share is always the major marketing objective for every organization. Though Bega Cheese thinks about the benefits of the customers along with the suppliers and distributors, but the effect of any marketing activity use to be measured in the monetary value.

  • Strong distribution network:

The business operations of Bega Cheese completely depend on the distribution network of Bega Cheese. The cooperation and effective communication among the suppliers distributors and the company need to be done in proper way to maintain the sustainability in the corporate relationships among them.

  • Bring a good brand image:

Another important marketing objective of a company is to bring and maintain a good image of their product and their company in front of their target customers. The brand image influences the loyalty of the customers towards the brand. Along with that, the brand image helps in expanding the business over new markets too.

  • Better customer relationship maintenance:

Customer relationship management is very important now days. There are various substitute products provided by many companies in a particular field. In Australia, there are many small and big companies producing variety of Cheese in similar ways as Bega Cheese. The customers can easily shift to other companies’ products to give it new try. This behavior of the consumers can ruin the market share of the company. Though Bega Cheese has a very good presence over the Australia dairy market and it is serving since 1899 [6]. Thus, the customers have faith on the company. Still, the company values its customers and the marketing communication always focuses on the benefit of the customers.

  • Loyalty statement in every communication:

Bega Cheese uses their marketing communication to express the loyalty of the company towards its customers. This objective plays a major role in new customer acquisition and better market penetration.

  • Increase in good will:

Another marketing objective of Bega Cheese is to increase good will and position the company in the top rated Dairy firm in Australia.

  • Better wealth management:

The purpose of marketing and other business operations indulged in wealth management in better ways. The wealth management lies in managing the Working Capital in right way along with specified goals.

 

SWOT Analysis of Bega Cheese

Strength

Weakness

·         Cost effective production strategies

·         Efficient sales & distribution network[7]

·         Best quality control Schemes

·         Skilled work force

·         Advanced water recycling process[8]

·         Variety of products

·         Scattered factory set up

·         Lack of product diversification

Opportunities

Threat

·         Increasing demand of dairy products in Australia

·         New product lines can be developed

·         Shifting climates

·         Increasing price of raw materials

·         Strong competitors in Dairy market[9]

(Source: Created by author)

Available opportunities in Australian Dairy Market

In Australia, Bega cheese is having a remarkable growth in their profitability and branding. According to the press release by Bega, the firm is performing very well from last 3 years as resulting EBITDA $29.7 million in 2014, $31.3 million in 2015, $32.9 million in 2016[10]. Apart from that, the product of Bega ranges in 23 varieties. The products are in categorized as Natural, Processed, Kid’s snacking and few bio-nutrients. However, Bega use to make contracts with few industrial firms who use Cheddar cheese as raw materials.

The pie chart shown above gives an idea about the presence of dairy firms in Australia which also evaluates the demand of dairy products in Australia. However, there is efficient demand; a proper strategic marketing plan can help Bega Cheese in achieving their business objectives in better way.

According to news published in The Sydney Morning Herald, there are opportunities for Bega to expand their milk supply procurement along with distribution channel[11].

Apart from that, Bega cheese has variety of cheese in their product range, but there are similar products of other rival companies in the dairy market. Thus change in packaging or addressing new flavors can Bega a new boost in their marketing. However, people of Australia use to consume various flavored cheese, the flavoring strategy can give Bega good opportunity in the Dairy market[12].

New Marketing Strategies to achieve marketing objectives

There are various opportunities for Bega Cheese in Australia to increase its market share and profit margins. Few marketing strategies will fill the gap between the expected growth of the company and the present growth of the company. However, the growth lies in achieving the objectives.

 

Introducing new product lines

Bega cheese only concentrates in producing cheese bars, cheese snacking and bio-nutrients. A new product division with food products like ice-creams made with cheese, cheese chocolate bars and similar products can be introduced to penetrate with more share of dairy market.

New packaging and labeling

The packaging and labeling of any product is the most important as for its marketing in front of its target customer. The packaging and labeling of Bega Cheese are not changed for a long time. Whereas, the competitors of Bega Cheese in Australia is regularly maintaining the presentation of their product up to the expectation level of their target customers. Therefore, a tricky eye catchy packaging can influence the attention of the target customers in broader way. Here the marketing theory of AIDA model should be focused in designing the new appearance of all the products.

Introducing new flavors

Bega cheese has 23 varieties of dairy products, but some new flavors can be added on the cheese and other dairy products to make more people interested in their product.

New advertise campaign

The advertising campaigns of Bega Cheese use to focus on the yum factor of the products. These ads are made on the basis of the theory that, an ad of food product can drag the interest of the target customers by expressing the taste[13]. Bega Cheese can use a new marketing campaign by endorsing a celebrity face.

Justification of New marketing strategies

The discussed marketing strategies are necessary for Bega Cheese since there are various gaps found in the capabilities the company addressing and the objectives of the organization.

The first strategy has a potential opportunity for Bega Cheese since; it will minimize the weakness as lack of Product diversification. The strategy will help Bega in grabbing interest of more people in Australia. In various researches it is found that, people used to swing their taste and preferences in certain periods, thus diversification in products is needed especially for food items.

The second strategy is also justified since packaging and labeling are the main tools of attractions for a product.

The third strategy is needed since flavoring products in new ways always gives a boost to the market share and penetration rate of food products.

The fourth strategy is justified since, new marketing campaigns helps in acquiring more customers and increases brand awareness over the mass of country.

 

Risk and Return

Risk: The risk lies in the new marketing strategies are –

  • Less effectiveness on the target audience
  • Less sales generation
  • Excess use of money due to change in prices and rates of necessary objects

Return: The return lies in the new strategies are as follows –

  • Increasing brand awareness
  • Increase in product demand
  • Increase in Sales revenue

Performance reviewing strategy

The performance of a new marketing campaign can be reviewed by a strategic framework such as follows-

Activities

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Total increase

Increase in Sales

 

 

 

 

 

 

 

Response to surveys

 

 

 

 

 

 

 

Opinion of the Stakeholders

 

 

 

 

 

 

 

Increase in the price of shares of the company

 

 

 

 

 

 

 

 

(Source: Created by author)

 

Marketing Planning for new campaign

The strategy of new advertisement campaign is the most suitable among the 4 strategies with the cost of operations limited in the budget.

Scheduling

The scheduling of the new advertisement campaign with a celebrity endorsement needs to work with a Gantt chart to ease the process of performing every activity in fruitful manner.

Gantt chart

                       Activities

Week 1

Week 2

Week 3

Week 4

Week 5

Week 6

Decide the purpose behind the Ad

·          

 

 

 

 

 

Choose the theme of the Ad

·          

 

 

 

 

 

Selection of the Celebrity

·          

 

 

 

 

 

Selection of the Ad agency

·          

·          

 

 

 

 

Contract of the Ad campaign

 

·          

 

 

 

 

Shooting of the Ad

 

·          

·          

 

 

 

Selection of the media platform to run the Ad

 

·          

·          

 

 

 

Selection the Ad slots in media

 

 

·          

 

 

 

Running the ad for specified period

 

 

·          

·          

·          

 

Feedback Survey after run period

 

 

 

 

·          

·          

Feedback Analysis

 

 

 

 

 

·          

(Source: Created by author)

Total cost of the Marketing campaign

Particulars

Cost assigned

Celebrity Endorsement

$80000

Ad agency cost

$20000

Ad Media cost

$30000

Ad shoot cost

$5000

Feedback Survey

$3000

Miscellaneous Operational costs

$2000

TOTAL COST

$140000

(Source: Created by author)

 Personnel responsible

The people responsible for the success of this marketing campaign are –

  • Marketing manager of Bega Cheese
  • Operations manager of the Ad agency
  • Marketing officer of Bega Cheese
  • Survey Inspector of Bega Cheese
  • Survey analyst of Bega Cheese
 

Conclusion

The marketing planning of an advertisement campaign goes through various stages. The report has discussed the stages of the Marketing ad campaign for Bega Cheese. The report has found that, there are various gaps in the performance of the company and its objectives. The strategy is sufficient to overcome those gaps and help in acquiring better market share along with more customers. An ad campaign with celebrity endorsement will enhance the image of the company in front of the target customers and result in better sales turnover.

The report goes through various analysis of the company Bega Cheese along with the opportunities in Australian Dairy Market. The report also discusses 3 more strategies which have potential to influence the current market position of Bega in Australia. The three strategies also can be considered in later future.

 

References:

" Victoria Department of Primary Industries Report to Bega Cheese. Ellinbank, Department of Primary Industries (2007).

(2017) <https://www.bordbia.ie/industry/manufacturers/insight/alerts/Pages/Flavouredcheeseinnovationgrowinginpopularity.aspx?year=2013&wk=29>

'Bega Cheese | Bega. Real Town. Real Cheese.' (Begacheese.com.au, 2017) https://www.begacheese.com.au

'Bega Cheese | Bega. Real Town. Real Cheese.' (Begacheese.com.au, 2017) <https://www.begacheese.com.au>

Bega Ltd, 'Bega Cheese Ltd | Business Review Australia' (Businessreviewaustralia.com, 2017) <https://www.businessreviewaustralia.com/company/29/Bega-Cheese-Ltd>

'Community' (Begacheese.com.au, 2017) <https://www.begacheese.com.au/community/>

Cummings, Thomas G., and Christopher G. Worley. Organization development and change. Cengage learning, 2014.

'Dairy Farmers Australia | Dairy Advocacy Group | Australian Dairy Farmers' (Australiandairyfarmers.com.au, 2017) https://www.australiandairyfarmers.com.au

Gourley, C., I. Awty, and J. Collins. "Waste water applications by Bega Cheese and assessment of impacts on soil characteristics." Victoria Department of Primary Industries Report to Bega Cheese. Ellinbank, Department of Primary Industries (2007).

Gourley, C., I. Awty, and J. Collins. "Waste water applications by Bega Cheese and assessment of impacts on soil characteristics.

Hill, Charles WL, Gareth R. Jones, and Melissa A. Schilling. Strategic management: theory: an integrated approach. Cengage Learning, 2014.

McDONALD, M. A. L. C. O. L. M., and L. Brown. "5 Strategic marketing planning." The marketing book (2016): 86.

Rossiter, John R., and Larry Percy. "Methodological Guidelines for Advertising Research." Journal of Advertising (2017): 1-12.

Schiffman, Leon, et al. Consumer behaviour. Pearson Higher Education AU, 2013

Sheehan, Kim Bartel. Controversies in contemporary advertising. Sage Publications, 2013.

Song, Eun-Jee, and Min-Shik Kang. "A Study on Customer Satisfaction Survey System for Effective Customer Feedback Analysis." International Information Institute (Tokyo). Information 17.8 (2014): 3637.

West, Darrell M. Air Wars: Television Advertising and Social Media in Election Campaigns, 1952-2016. CQ Press, 2017.

Zhang, Weinan, et al. "Feedback control of real-time display advertising." Proceedings of the Ninth ACM International Conference on Web Search and Data Mining. ACM, 2016.

 

[1] 'Dairy Farmers Australia | Dairy Advocacy Group | Australian Dairy Farmers' (Australiandairyfarmers.com.au, 2017) <https://www.australiandairyfarmers.com.au>

[2] 'Bega Cheese | Bega. Real Town. Real Cheese.' (Begacheese.com.au, 2017) <https://www.begacheese.com.au>

[3] Cummings, Thomas G., and Christopher G. Worley. Organization development and change. Cengage learning, 2014.

[4] Bega Ltd, 'Bega Cheese Ltd | Business Review Australia' (Businessreviewaustralia.com, 2017) <https://www.businessreviewaustralia.com/company/29/Bega-Cheese-Ltd>

[5] Bega Ltd, 'Bega Cheese Ltd | Business Review Australia' (Businessreviewaustralia.com, 2017) <https://www.businessreviewaustralia.com/company/29/Bega-Cheese-Ltd>

[6] 'Community' (Begacheese.com.au, 2017) <https://www.begacheese.com.au/community/>

[7] 'Community' (Begacheese.com.au, 2017) <https://www.begacheese.com.au/community/>

[8] Gourley, C., I. Awty, and J. Collins. "Waste water applications by Bega Cheese and assessment of impacts on soil characteristics." Victoria Department of Primary Industries Report to Bega Cheese. Ellinbank, Department of Primary Industries (2007).

[9] Tim Binsted, 'Dairy Wars' Not Over As Bega Cheese Positions For Battle' (The Sydney Morning Herald, 2017) <https://www.smh.com.au/business/dairy-wars-not-over-as-bega-cheese-positions-for-battle-20140218-32zk5.html>

[10] 'Bega Cheese | Bega. Real Town. Real Cheese.' (Begacheese.com.au, 2017) <https://www.begacheese.com.au>

[11] Tim Binsted, 'Dairy Wars' Not Over As Bega Cheese Positions For Battle' (The Sydney Morning Herald, 2017) <https://www.smh.com.au/business/dairy-wars-not-over-as-bega-cheese-positions-for-battle-20140218-32zk5.html> accessed 23 March 2017.

[12] (2017) <https://www.bordbia.ie/industry/manufacturers/insight/alerts/Pages/Flavouredcheeseinnovationgrowinginpopularity.aspx?year=2013&wk=29>

[13] Schiffman, Leon, et al. Consumer behaviour. Pearson Higher Education AU, 2013.

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