The paper "Marketing Plan for Weetbix" is a great example of a marketing case study. With an increase in globalization, information technology advancement, and growing pressure from external forces, it means that managers can no longer use old marketing strategies today in their operations. It is a culmination that marketing has changed from traditional ways to modern strategies. Whereas the organizations agree that they no longer assume loyalty, and call for adopting continuing marketing strategies so as to remain ahead of other market players, the content and design of the strategies keep on evolving.
RMIT University (2012) stated that in the last few years WEETBIX has not been able to hold its market share due to various competitive and market forces. Therefore, this market plan will advise Sanitarium Health & Wellbeing Company on ways it can improve its marketing activities through new strategies in New Zealand. Some of the factors that will be discussed include overall strategy, product strategy, pricing strategy, distribution strategy and promotional strategy. 2.0 Overall Strategy Weetbix overall strategy is geared towards its corporate objectives which are “ to offer healthy food which actively enhances the well-being and health of the community and to provide realistic health advice and clear nutrition information” in New Zealand (RMIT University, 2012).
Among the leading firm globally, Sanitarium Health & Wellbeing Company has set up an effective corporate strategy which is strongly rooted in its survival in the cereals food industry. From the marketing myopia school of thought by Theodore Levitt, Sanitarium Health & Wellbeing Company has emerged as a marketing cognizant company that concentrates its branding on the customer value by conducting widespread market research so as to match its customer-based culture. 2.1 Strategic Alternatives available (or Product Development, market development and Market Penetration) Sanitarium Health & Wellbeing Company aims at increasing its revenues by 3% by introducing new forms of WEETBIX, enhancing innovation and introducing new technology in the upcoming financial year (Campaignbrief. co. nz, 2015).
The research has shown that Sanitarium Health & Wellbeing Company must change its technology in order that it can raise its productivity and outdo its competitors. Introducing new products means the company is changing and ready to solve the new needs of the customers.
The company will use market development strategies in its market plan to increase its growth. WEETBIX market development strategies conducted to targets non-purchasing clients are presently targeted segments. In its market development strategies, WEETBIX target new markets in New Zealand. Such areas have high income and a large number can afford cereals. They also need cereals which are low in sugar. The research has shown that there will be a high scope in the cereal international market. Campaignbrief. co. nz (2015) claimed that WEETBIX will be aiming to capitalize and increase its market awareness, build its brand image and grow its profit.
WEETBIX market penetration strategies are aimed at gaining competitor’ s customers through effective advertising, low pricing and improved product features. With a large customer base in the market, WEETBIX is assured of increased revenue, large market share and strong brand image. In the face of competition, the company use a positioning strategy to create a perception among customers.
Adams, C. (2012). Lifting the lid on Sanitarium. NZ Herald. Retrieved Oct 26th 2015 from
Campaignbrief.co.nz. (2015). Weet-Bix target market Weet-Bix fuels the youth market in its
latest integrated campaign + app via BelowTheLine. Retrieved Oct 26th 2015 from http://www.campaignbrief.co.nz/2014/02/weet-bix-fuels-the-youth-marke.html
RMIT University. (2012). Marketing Plan Summary Sanitarium – Weet-Bix. Retrieved Oct 26th
2015 from https://www.dlsweb.rmit.edu.au/bus/public/mktg1329_managing_teamwork/resources/Mktg%20plan%20sample%20-%20Sanitarium%20Weet-Bix.pdf