Southern Rice Advertising Budget
In the case of Southern Rice, what particular type(s) of budgeting method would you consider? Why? When introducing a new product, it is imperative to have a marketing plan. The Southern Rice Company has well establish a recognizable brand and built a strong brand equity. “Good advertising can make a consumer want to try a product, but a repeat sale is typically influenced by the consumer’s product experiences.” (Arens, page 263) Customers are paying extra for the satisfying quality that Southern Rice provides in their products. Recently a new style of cooking rice, instant rice, has become a threat and opportunity for the company. Using our substantial advertising budget, our overall goal is to
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Another budgeting strategy is the objective/task method. Objective/task “considers advertising to be a marketing tool to help generate sales.” (Arens, page 294) I feel this method is a well planned out proposition. The steps include defining the objectives, determining strategy and estimating cost. The objective here is to increase the awareness of Southern Rice Company’s instant rice. Next, we will research and determine which ads, television or print, and media outlets to use. Measuring the results from these campaigns will determine whether or not they need to be revised. Based on this information, we can estimate the overall cost and then allocate the money in the marketing budget into each specially designed task. If we cannot afford some of the tasks, we can devote more of our budget to a task that will work in the most effective way. Objective/task is more accurate and flexible when it comes to budget allocation. 2) Do you agree with Southern Rice's "test market program?" How would you go about with the test market approach in determining advertising spending? I agree with the “test marketing program.” Southern Rice is introducing a new product in new unfamiliar locations. In the past, the company would market the territory south of the Mason-Dixon Line with some distribution in western states. Their new plan consist of expanding to untapped locations; Tampa/ St. Petterburg, Charlotte, and Washington
Shawn Buckley (founder) and Rudy Poe (partner) open JustFoodForDogs (JFFD) in January 2011 in the context of Newport Beach, California to facilitate production and selling of the human quality healthy food for the dogs. In 2013, the two partners sought to expand the operations of their business through opening a second location in West Hollywood, California. In the midst of the limited knowledge of the local market in the new location, the two business partners questioned the capability of the positioning, messaging strategy, and brand elements in the first location to resonate effectively and efficiently in the new market. The purpose of this analysis is to evaluate the problem or key issue in the case,
The common public goal of the marketing discourse is to attract attention from targeted audiences, in other words make the consumer buy, buy, and buy. In order to achieve these goals I have to execute different marketing strategies with the help of the staff and company executives. Together we brainstorm different marketing trends, design different kinds of ads; analyze social media for more effective ways of advertising and calculate risks based on customer insight. When all is done right the end goal will result an increase of sales revenue for the company, which will sharpen its image and name.
Before proceeding with the next section (objectives), it is recommended that you complete the Marketing Plan Worksheet. Ask the academic mentor in the learning community for this if you do not have it.
3. Repeat the Question 2 analysis, but now assume that the new marketing program is implemented.
This marketing plan will also engulf vision of the company, its mission statement, product and services, and underlying factor of the business. The plans will also contain a vivid description of the company in terms of its business product as well as SWOT analysis to demonstrate its strengths, weaknesses, opportunities, and threats. A market target segmentation of customers, strategic mission, and its foreign expansion
Perreault, William D., Joseph P. Cannon, and E. Jerome McCarthy. Basic Marketing: A Marketing Strategy Planning Approach. 19th ed. N.p.: McGraw Hill, n.d. Print.
Kudler Fine Foods is a gourmet food store which also offers in store parties in order to introduce customers to their products and also teach customers how to prepare their specialty foods. They have expanded to three stores and are continuing to see growth opportunities in their industry. Kudler Fine Foods has planned on contracting with local growers to obtain their produce and now they want to add a catering service. Before they can do so, they must run the possibility fully through a marketing standpoint in order to assure the success of this project. This study will comprise of the opportunities Kudler Fine Food has in its marketing mix that will help them operate a successful catering business.
Kudler Fine Foods has decided to launch a product in both domestic and international markets. Kudler Fine Foods has determined that expanding their markets will allow domestic and international market growth generating an increase in profits. Many factors need to be considered when launching new products into domestic markets as well as international markets. Establishing a strategic communication plan will help the success rate of the launched product.
Whilst making marketing decisions a business must decide their method of marketing. This will then be the way in which all future marketing activities will be planned. This is marketing planning. It has a huge number of benefits for any business. It’s influenced by the strategic plans of the business and its corporate objectives. Large public limited companies such as Nestle will usually have an overall plan for the business and has set objectives which they’re able to achieve. Smaller companies within the business will then create their own marketing plans which fit in with the overall strategic plan. The business has to consider several questions before coming up with the marketing plan:
Perreault, Jr., W.D., Cannon, J.P., & McCarthy, E.J. (2011). Basic Marketing: A Marketing Strategy Planning Approach [University of Phoenix Custom Edition eBook]. New York, NY: McGraw-Hill. Retrieved from University of Phoenix, MKT/421 website.
Healthy eating individuals that are intrigued with enjoying a diverse selection of healthy recipes consisting of low-crabs, low-fat and organic foods.
The case focuses on Kellogg’s Special K brand and considers how the marketing of this has changed over time. Marketing is not static – it must be developed as market conditions and customer expectations change.
“Setting objectives for a marketing plan is not simple and straightforward matter. It is an iterative process whereby objectives are set, strategies and action plans are developed, and then it is decided whether the planned objectives are impossible, achievable or easy. Marketing objectives should be difficult, but they must be achievable. The aim is to set objectives that a challenge, but can be achieved with effort. They must be motivating rather than discouraging.” (Westwood, 2002).
We will be marketing a food product, “Healthy Protein Snack Foods” that will be marketed to the athletic people, people playing soccer games, and people from ones who joined sports clubs in Dubai. The prime focus of the product is mainly on Dubai, that is u males between the ages of 20-35 years of age in order to get their attention to the efficacy of the product with to improving their health. From there we want to spread to other cities of UAE. The success of the “Healthy Protein Snack Foods” will be dependent on the way, we take the product to the people in our target market, describing its features and the aspects of health that it contributes, the replacement it can give for the fast foods, and the overall value it can add for the family health. we would like to marketing strategy that would enable us to reach the population of Dubai in a faster way, and in low cost method. The “Healthy Protein Snack Foods” is one of the kind of the products, created specifically for the sports people in Dubai, to help them upkeep their health.
NatuRi consiguió ubicarse al sur de Tamil Nadu, donde podría implementar su proceso sobre el salvado o RBO crudo mientras que al mismo tiempo se ejercía un completo control sobre las materias primas necesarias para la producción del Rice – Active. De este modo, el producto terminado tendría la calidad buscada por la empresa y así, se podrían conseguir buenos resultados al momento de entrar al mercado y enfrentar a la competencia.