Question 1: How does Boost differentiate its products from those of its competitors?
Boost Juice Company has been sensitive on its products by ensuring that its products are outstanding in a competitive juice market. The first element that is evident in the company is brand equity. The company has selected an outstanding brand name that is attractive to consumers. The name boost may be used to define the role the juice would play in the body of the consumer. It shows that the juice has nutritional value to the consumer. Therefore, the name would play an extremely critical role in attracting consumers to the product (Buttinger & Vallaster, 2008). The name of the company suggests the mission of the company, which is to ensure the body of the consumer remains healthy.
In addition, the products of the company become famous following the sensitization of the consumers on the significance that the products would have to the body. There are numerous campaigns carried out by the company with the aim of making the public aware of the merits that the food would have to their body (Bennett, 2013).Sensitizing the public on the health concern posed by the food they eat would fetch a wide market for them. The company has let the consumers understand the need for healthy feeding habits. It has also been able to link its products to the benefits that they may bring to the consumer. In marketing, the main requirements are identifying the needs of the consumers and coming up with the necessary plans to satisfy the needs (Whittaker, 2014). Boost juice has developed an environment where customers understand the goods that it deals with and their significance to the body of the consumer (Seppa, 2013). This has made them commend a wide market of juices in Australia.
Question 2: Outline and discuss the macro-environmental forces that could potentially impact on the
- Demographic environment
- Economic structural environment
- Competition environment
- Technological environment
Demographic environment may be defined as the population that surrounds Boost business. The population may consist of people with exclusive traits that may define the business of company. In the population there are people suffering from exclusive lifestyle diseases, which must be solved (Bloom, Canning & Sevilla, 2003). The company has identified countering diseases as a marketing technique thus creating sales for the company.
Economic structural environment refers to the economic factors that may influence the performance of Boost business. The company operates in the health and food sectors, which are usually sensitive and have been governed with exclusive economic rules. Setting up premises for health products in Australia is extremely sensitive (Chopra, 2008). This means it is challenging, for Boost business to set up more stores for fruit juices.
Competition environment refers to the pool of producers in the market with the similar products. These people challenge the market making it hard to survive. For example, Berri Company is the main competitor to Boost business (Hooley & Saunders, 2004).Berri is the most famous juices company in Australia and has posed exclusive challenge to Boost business. The company has categorized its products into different classes, which has been extensively challenging for Boost business to gain entry to the market (Gerry, 2004).
Technological environment is the other element that would be extremely useful in defining the performance of Boost business in Australia. There are exclusive inventions that have come up to assist in juice extraction (Hutt, 2007). The company would take advantage of the new systems to develop an exclusively reliable juice producing system.
References
Bennett, C., 2013., From the Consumers Health Forum of Australia. The Medical Journal of Australia, 198(2), 74.
Bloom, D. E., Canning, D., & Sevilla, J.,2003., The demographic dividend a new perspective on the economic consequences of population change. Santa Monica, Calif.: Rand.
Buttinger ,C., & Vallaster, C.,2008.,Connective branding building brand equity in a demanding world. Chichester, England: Wiley.
Chopra, K., R., 2008., Growth, equity, environment, and population economic and sociological perspectives. New Delhi: Sage Publications.
Gerry, M., 2004., Competition. New York: United Nations.
Hooley, G. J., & Saunders, J., A., 2004.,Marketing strategy and competitive positioning (3rd ed.). Harlow: Financial Times/Prentice Hall.
Hutt, J., 2007., Technological Trajectories and the Human Environment.Environment International, 23(5), 745.
Seppa, N., 2013., Health & illness: Digestive juices blamed in shock: Enzymes leaking from gut may have deadly consequences. Science News,183(4), 10-10.
Whittaker, B., 2014., Transforming Australia. Sexual Health, 23, 12.
