Unlock Marmite's Potential: Analyzing the Market & Target Consumers - Essay Sample

Introduction

Before a marketing strategy can be developed. The analysis of the market and the potential buyers need to be established. The target consumers can be classified by age and other factors to determine their possible interests and the methods that can be used in the achievement of the campaign.

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Marmite is a food extent that is extracted from yeast and prepared. It was developed by Juston von Liebig who is a German scientist. The product was initiated in the United Kingdom. The Unilever Company is a company that produces the food spread because it is a by-product of a beer brewing. Marmite has also been manufactured in New Zealand since 1919. It is a sultry, dark brown spread that is characteristic and has a prevailing smell which is very salty. In the market, it is advertised by the saying 'love it or hate it. This saying has been used as a metaphor that means that the product taste will great a big concern and it will tend to split views. Marmite is a product that can also be used as a flavoring ingredient in foods because it rich in umami for glutamate is readily available at high levels. It is traditionally spread on bread, toast, savory biscuits, and eaten. A hot savory drink can be made out of marmite by adding one teaspoon of the marmite into a mug composed of hot. It is rich in vitamin B and vitamin B12. It comprises a high percentage of glutamic acid that is from the extract of the yeast. Precautions should be taken for persons that take MAOI antidepressant because the marmite from the yeast contains a tyramine content. The added vitamins in the marmite led to a temporary ban in Denmark, a country that has laws that curb the illegal business activities such as the fortified marmite not unless when they are tested.

ICM Campaign and Marketing Tools

Media Strategy

From the introduction above, a person can classify the market of the product as diverse as it can be used by all members of a family. The best methods that can be used include the active use of social media advertisements. Advertisements have been classified as the most powerful tools in the marketing world. The world is a global village and nearly everything has shifted from the analog world to the online communities. Marmite advertising started in the early 1930s with characters that their facial expression combined the word 'good'. Afterward, they got to add a few vitamins and provided the products to the market with a slogan that says "A small quantity added to the daily diet will ensure you and your family is taking sufficient vitamin B to keep nerves, brain, and digestion in proper working order." The slogan "My mate, Marmite," was got into the market from sales of the product in the 1980s, characterized by an army platoon. In the 1990s, Marmite gained fans and it became famous for starting a "love/hate" reaction among its consumers. Songs featured in the Marmite advertisements for many years such as the Low Rider. In 1996, Marmite started a campaign that led to the invention of the Marmite effect or the Marmite reaction for whatever that aggravated agreement. The British National Party was threatened by the Unilever for using a jar of Marmite and taking its slogan the "love it or hate it" from the television advertisements.

Products Budget and Goal

The most challenging part of every company is the creation of a budgeting plan that is effective. Some companies can consider the most expensive methods as a waste of funds hence settling for way unproductive methods. The budget allocated to the marketing of marmite can affect its performance in the international markets

In New Zealand marmite uses the name "Our Mate" in the market since Marmite is the local product. It was banned in Denmark because the legislation orders that foodstuffs that have the added vitamins are to be sold by licensed retailers. In Canada, the agency dictated that the product was not a health threat. The Canadian Food Inspection Agency found that the products were not framed for sale in Canada and which gratified all Canadian food regulations. In South Africa, it is manufactured by Pioneer Foods that produce it in traditional and cheese flavor.

Marmite is a business-oriented company under the Unilever that promotes consumers with the goods that marmite own. The company's claim has a few commitments that have to improve significantly to sustainability by the year 2025(Wang, Li & Wan,2019). Usage of the plastic packaging has helped to carry the Marmite commodities recording an increase in the use of plastic that is recyclable. The company's new environment-friendly goals are to add to the committee to make sure that the plastic packaging is recycled. For a good business to run or operate extensively into the market, it must ensure that its consumers are safe from its products. Unilever has alerted the whole world that it will sell brands that will destroy society. Since the company is the most renown it points to the success of its trophy bearable brands. Unilever is looking for criteria in which it will help its consumer concerns about single-use plastic with the start of Cif refills.

Communication Goals Integration and Benefits

Three Ps Concepts

Communication is a great way for business owners to develop their connections. Communication helps in offering the potential to meet new associates and grow the business. Apart from online communication, the marmite company should use face-to-face networking to give rise to the opportunity for an extensive circle that will reach out to the people. The building of relationships under this face-to-face communication is more genuine that the online communication that probably may seem illegitimate and the consumers get not get satisfied as compared to personal communication. There are several methods of integrated communication. The three Ps method is an acronym for the pull, push, and profile, the planning of the communication, procedure, and the execution.

The pull method of communication is ideally the best method that can be applied by the company; the method is efficient as the clients are attracted by the qualities of the products that are displayed in the advertisement. An example of the pull method of communication would be the education of the user on the nutritional qualities that the product possesses and cannot be found in the other similar products. The push method is the opposite of the pull method which rather gets its motivation from the long term desires of the customer and leverages the weaknesses of the opponent (Wang, Li & Wan,2019).The more the business is connected to its customers the more it gains positive people that understand and shares the ambition of the business and will help in the growth and development of the business. Networking events are growth grounds of sharing business ideas and knowledge, where positive feedback after a discussion help in expanding business minds and helps one to have a different perception concerning the business. Recognition is still another factor that one will get in attending the events and probably extend hands with other associates and start a friendship that is reliable and supportive. There are some of the tips that need to be taken into a close look at before attending any business event, they include; researching the organization and their methodology to determine whether they are friendly or collaborative, researching the structure of the event, making progress contacts, planning to agree on what to gain after the event, and getting prepared. Five things make one prolific based on communication; speaking and relating with people who are on an individual level, not being too helpful, providing simple questions to ask, being selective and following up with people, and later planning in having a coffee together.

Importance of Integrated Communication

An integrated communication entails a plan, that is crafted to make the client accept the product being offered with the least resistance. It involves the company creating a sense of admiration in the product presented in the market. The integrated business marketing communications has several benefits; it is cost-effective since there is no duplication of the assets such as creating content, images, and graphics that consume time and money, helps in building trust with the audience by integrating the brand's messages and keeping them consistent that will attract the audience trust, eradicates confusion- some brands post different information to different online platforms that when the consumers look and compare the two conveyed messages they get confused, puts one on top-of-mind and builds inner drive. A non-integrated campaign is an operation that does not associate several channels such as content, email, display advertising, and social media in promoting a steady message to a certain targeted audience. Integrated campaigns are used to change audiences into customers.

An organization has an advertising area, direct marketing area, call center, product development, and media relations that are arranged individually. In this organization, integration is very little and goals and objectives are attained by discussing. An illustration is from the two videos; one it an organization that is advertisement driven from the 1970s(Wang, Li & Wan,2019). In the video, an advertisement agency is put together in a campaign and placed on concentration. The campaign is successful and "we've only just begun" a famous song is noticeable for it is classic and was written purposely for the television commercial. The Crocker bank ad was built to help youths to start and get success in life. Banks today are flexible and open but at the time the bank was not but they were oriented in marketing. The Crocker bank had no advertising integration. Their marketing was just independent of the firm's policies leading to a complete policy that is built for television commercials only. Another example is integrated marketing communications; the example is from the National Australia Bank. Its strategy is corporate and is supported powerfully by marketing mix elements and internal marketing programs(Fill&Turbul, 2016). This campaign is driven by strong consumers that have understood it and clearly, the goals and results are expected. Appropriate products had been set and re-set the price. Comprehensive communication implements have been used. The list of marketing metrics put as the video ends proves the use of integrated marketing communication from the NAB. It is a signal that shows goals, controls, and utilization of data is used to trajectory their business performance and future planning of its policies.

Recommendations

(i)The company should focus on the extensive use of social media to advertise the product .the most common online method they can use is the playing of advertisements on Televisions at appropriate times to capture the attention of their potential clients. They should consider running advertisements on social media pages to attract any customers.

(ii)The offline methods that the company can use for the campaign are the erection of billboards along with strategic places such as on busy highways and even big towns.The billboards can be viewed by many people especially when the contents are colored and attractive.

(iii)The consideration of a budget is important for the company. Some methods are very costly but have greater results, while some methods of product campaign require little funding for better results. The company can consider running advertisements at more affordable websites and social media platforms.

(iii)The company should use the integrated communication approach which focuses on educating the clients on the importa...