Selected FMCG Product Overview
The FMCG products are one of the very important and essential items that the consumers need in their day to day loves. It is for this reason that all the industries working in and around the worlds are trying their level best to apply the best and the advanced kinds of technologies for giving a boost to these products. One such product is the milk and the milk –products. In this modern day scenario people all over the world are highly alert about health conditions. Thus, they are trying their level best to make sure that the consumers are getting a proper quality and the quantity of food products. The FMCG products are the fast moving consumer goods that can be used by the people in a very easy to access way. The FMCG product that has been dealt with in the last assignment is the packaged milk product called the Devondale milk. As far as the research that has been conducted it is seen that the customer were mainly fond of this product because they got a very good taste from the same.
However some of the customers might also be interested in purchasing the product as they are attracted towards the packaging, price, and creative nature of the advertisements’. As far as been seen from the last and the previous assignments the 40 percent of customers like the Denoivale milk over the other products like the Tatura Milk as they feel that the taste of this brand is much better. However it is being seen that over the last few years the customers have not been able to repeat their purchases because of the fact that the number of customers have reduced in general. In particular there have not been any kinds of repeat purchases as well.
Company’s current marketing
As per the opinion of Fan, Lau and Zhao (2015), the consumers are influenced by many parameters before they actually want to purchase a product. Same is the case with the company called Devondale Australian Dairy. Some of the important parameters that mainly influence the customers in making their buying behaviors are as Brand name • Quality • Price • Easy Availability • Quantity • Package • Trade Name • Date of manufacturing • Transparent • Affordability. Arnold and Boggs (2015) is of the opinion that this company actually pays a huge importance to all these fields. Waisbord (2018) is of the opinion of threat this company has paid huge importance to the quality of the products. This is the first basic thing that they have undertaken. They have made an in depth research and development method in order to make sure that they are being able to cope up with the consumption pattern and the demands of the modern group of the customers.
Company’s current marketing strategy
The current marketing strategy that is being used by the company is as follows-
The company makes sure that they are being able to provide a wide variety of products to their customers. As per the opinion of Ziliani et al. (2019), they have been able to provide a wide range of products like the cheese, cream skim, butter and many other products. Fan, Lau and Zhao (2015) had also supported saying that the first and the basic parameter that the company has emphasized upon is to provide a purely healthy and tasty product. The fact must be noted here that only 55 percent of the consumers say that they are inclined towards the taste of the product. However it is just one half. The rest half of the customers do not say that they are making purchases of this brand because of the taste. Thus the taste needs improvement. However this might affect the Attitude of the customer in a negative way. Bahl and Chandra (2018) is of the opinion that some customers might like to get boost on the quantity and not only on the quality of the products. Thus the company has to make sure that they are paying proper importance to the attitude of the customers so that they can actually make a huge appeal to all the customers belonging to all the different groups of the society.
This company mainly makes sure that they are making their products available to all the people living in the different parts of the world. Massingham and Pomering (2017) is of the opinion that there are some kinds of premium products that might be available only in some kinds of selected stores. This will naturally be easier and also tough for the customers living in regions that are near to the stores where the company is selling their products. The culture and the social class of the customers can also be harmed in this manner. However, this must be noted that the stores of the products and the online availability of products are not properly developed. It is for this reason that the customers located in the remote areas are not able to value their products. This is affecting the customer loyalty is a very negative way. This is mainly because of the fact that some consumers might not be able to travel to some of the places where the stores are located. Ziliani et al. (2019) is of the opinion that there might be some products like the premium cheese, cream items and others that are most liked by the people. It is for this reason that they might get some hurdles in buying the products from the different places. Thus the company must start setting up their stores at places that are convenient for all.
As has been seen from the last assignments they have been seen that a large portion if the consumers do not really prefer the Devondale brand of milk over the other brands for the taste The difference is mainly because of the fact that they are attracted towards the consumption of this particular brand because of the taste. The consumers are of the opinion that they are mainly fond of this brand of milk due to the taste over the other brands like the Tatura Milk, Bega, a2. However a much lesser percentage like 20 percent are of the opinion that they are fond of this brand of milk due to the flexibility that they are getting on terms of the price. Thus it can be said that the personal buying decision-making processes. The price is not evenly distributes., In other words, some products are available at an affordable price whereas the other products (particularly the premium products) are placed at a high price. It is for this reason that the customers from the medium or the low income groups are not able to make their purchases.
As the competition is increasing very rapidly there is a chance that the other competitors might, make an entry into the market and attracts the attention of the customers by providing huge discounts and offers. This will make the customers feel that they will be at a profit of they can make their purchases from the rest of the other firms that are coming into the market. It is for this reason that the company must start working over the price that they are setting for their products. Apart from this they will also have to set many discounts and offers so that they can keep their customers interested. It is a known fact that in this modern scenario the customers will naturally look for some advantages and some discounts. Thus they will naturally get inclined towards products that will give them some added additional advantages.
The sales promotion must be taking place in totally ethical and sensitive manner that might attract all the people towards the products. This will mainly include the different tools and implements that will help the organization to make their products get properly promoted in the market. In order to do this, they have to make sure that they are using the right kinds of tools and implements for the promotion of their products in the market. There are many kinds of promotional methods like the advertising, personal selling and other such mediums. These will help in conveying the usefulness of their products to all their customers. The promotions of the company are not done properly. In other words, the advertisements are not properly well developed. Thus, the com any must make sure that they are developing some strategies for advertising their products properly.
Marketing communication mix
Advertising is one of the major tools through which the company can actually reach out to their customers. The advertising mainly includes a particular message that helps in the promotion of their products. In this modern scenario all the people are looking for the health benefits in the products before they are actually making their decisions to buy such products. The company has to make sure that they are making the proper kinds of advertisement for their targeted customers. They have to make sure that they are advertising their products in a proper way so that is doing not hurt the emotions or the sentiments of any of their customers.
Discounts and Promotions
This is one of the very essential aspects that the company has to focus upon. In order to make sure that they are being able to retain their customers they have to offer some kinds of additional advantages. The customers will naturally look for some added advantages like discounts, seasonal offers and other such methods. Thus, the company has to use many ads in order to show their customers that they are giving some kinds of coupons and deals so that the customers can buy the products at a much cheaper rate.
This will also help them to make many repeat purchases in order to get these coupons many times. This will also help the company to make sure that they are being able to get some kinds of repeat purchases or repeat customers.
This is also much similar to the kinds of advertising that the company is carrying on. They have to make their products known among all their customers by using the mass media methods. In this modern 1st century people all over the world are associated with the media on a much deeper way than any other means. It is for this reason that they have to make their PR tam very strong. They have to make sure that they are trying to build up a very good connection with their customers in order to make sure that the customers are being able to maintain a peaceful relationship with the organization.
Personal selling is one of the good methods for carrying on this business. There are many customers who want some kinds of flexibility in their shopping experience. As a result of this, the company has to make some kinds of personal selling methods. They must be able to appoint some selling persons or sales representatives who will be able to carry on the door to door selling methods. This will help them in inspiring their customers. The customers will be able carry on repeat purchases in order to make sure that they are getting the same kinds of perks and advantages. This will help the company in making sure that they are being able to make their customers have a good memory or experience while they are making their purchases.
The company is doing well in the current business. However they have to upgrade themselves in order to make sure that they are not falling back in anyway. They have to make an extensive use of the modern methods of marketing. This will help them to connect with their customers in a proper way.
- The organization will try their best to develop their presence on the online media sites. Online advertisement is one of the key methods that must be used by the people of the modern business organizations so that they can very easily connect with the customers of the different age groups. This must be kept in mind that the people of the modern age are very active on all the social media sites. It is for this reason that the company must make it a point to stay connoted with their customers via all the social media apps.
- The company must try to focus over their pricing strategies of they want to work over the repeat purchases. In order to do that they have to make sure that they are providing their customers with the discounts and the seasonal offers that will always help them to stay properly attached with this brands.
Arnold, E.C. and Boggs, K.U., 2015. Interpersonal Relationships-E-Book: Professional Communication Skills for Nurses. Elsevier Health Sciences.
Bahl, S. and Chandra, T., 2018. Impact of Marketing Mix on Consumer Attitude and Purchase intention towards' Green'Products. A Journal of research articles in management science and allied areas (refereed), 11(1), pp.1-11.
Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research, 2(1), pp.28-32.
Islam, M., 2018. ’Impact of Promotional Elements on Brand Repurchases: A Study on Walton Brand’.
Liu, Y., Li, K.J., Chen, H. and Balachander, S., 2017. The effects of products’ aesthetic design on demand and marketing-mix effectiveness: The role of segment prototypicality and brand consistency. Journal of Marketing, 81(1), pp.83-102.
Massingham, P.R. and Pomering, A.A., 2017. Introducing Knowledge Management to the Marketing Mix.
Polji?, M., Teši?, D. and Košuti?, N., 2018. Participation of digital promotion in the promotional mix of small enterprises. Strategic Management, 23(4), pp.32-39.
Subramanian, S. and Monisha, M.R., 2016. A study on E-promotional activities of online shoppers in Chennai. International Journal of Research in IT and Management, 6(11), pp.96-102.
Waisbord, S., 2018. Family tree of theories, methodologies, and strategies in development communication. Handbook of Communication for Development and Social Change, pp.1-40.
Ziliani, C., Ieva, M., Gázquez-Abad, J.C. and D’Attoma, I., 2019. Retail promotional communication: The comparative effectiveness of print versus online. In Exploring Omnichannel Retailing (pp. 225-249). Springer, Cham.