Introduction to Brand Value Reception
Organization’s brand value depends on its reputation. Brand value is referred to have brand reputation. A brand value reception is a process of receiving back the reputation of the brand in the market. The present report is developed on case study of Flourish cooking oil brand. This report will showcase the characteristics and benefits of internet marketing, environmental analysis of competitive brand, nature of competition and current strategies in target market with e-marketing communication mix. Being in the position of E-marketing manager, a virtual brand marketing campaign is being prepared for the cited firm with the use of social media platform. The campaign will be launched in the UK market. The detailed explanation about the same is given in the following
1. Introduce e-marketing
E-marketing is the practice of using different digital means with an aim to give information about the product to the respective customers. The given mean is effective as it enables the cited firm with regard to attract the large number of customer towards the corporation in an effective way. In this context, there are number of benefits identified which Flourish organic cooking oil can gain by using the given means of marketing. Placing ads in digital mean is cheaper than traditional mean of placing the advertisement. Furthermore, the e-marketing will also provide opportunity to the firm with respect to give information about the product among large number of buyers.
However, e-marketing represent several opportunities and challenges to the e-marketing director of cited firm.
- Here, firm has to the opportunity to give information about the presence of product in market among international buyers.
- Thus, it gives opportunity to the corporation with regard to perform significant improvements in the market share of enterprise.
- To target the major target market of the firm is being regarded as the major challenge which is being faced by the respective director. This is because, in e-marketing information about the product tend to be spread among the large group of buyers. Thus, here firm cannot assure that the buyers which it has selected is the major target market of corporation or not.
2. Environmental analysis of competitive brand
The environment analysis of the competitor of Flourish cooking oil is carried by analyzing Holland & Barrett's technological and socio-cultural factors which affect the brand value. These are as follows...
Holland & Barrett is a unit of health food shops with above 1000 stores in UK. Thereby, it has strong brand presence among consumers of UK. Moreover, Holland and Barrett is very old and trusted company for food products among the customers. Apart from this, Holland & Barrett utilizes various brand promotion activities by using developed technology. On the contrary, Flourish is a new brand and it is developing technologically. Thus, to attain the competitive advantage Flourish should also improve its brand image by applying various promotional activities by using technology.
The customers use internet for the different type of purpose. For example, some users uses the given means with an aim to get connected with their friends and family member. In addition to this, some customers uses this with an aim to get the information about the product which they will purchase. The different means of internet causes significant impact upon the purchasing behavior of customers. For example, in internet customers have the opportunity with regard to get the detailed information about the product. The given thing will lead to develop the positive feeling about the brand in the mind of buyers. As a result of it they will get influenced with regard to purchase the goods and services of the corporation in an effectual way.
3. Key competitors within the sector and nature of competition
The major competitor’s of Flourish cooking oil are Organic Valley, Holland & Barrett and Organic Amy's etc. The nature of competition within the given industry can be analyzed with the help of porters five forces analysis. In this context, it is assessed that the bargaining power of Flourish cooking oil buyers is high because of the availability of number of options in the given field. In addition to this, the rivalry among the competitors is also high as cited firm is facing the competition from the number of companies which are providing the similar type of goods and services. In the similar way, threat of product substitute is medium because buyers who are health conscious will prefer to purchase the organic oil irrespective of availability of varied oil options. Furthermore, threat of new entrant is also high for Flourish cooking oil as there are many firms are entering in the organic oil production industry.
1. Current strategy of company
Currently, Flourish cooking oil's strong competitors are Holland and Barrett, Organic Valley and Organic Amy's. As per the product quality and pricing strategy of the product Holland & Barrett is posing subsequent competition to the company. The well developed market and positioning strategy of the competitive company has weakened the growth prospects for Fortune. The brand have strong visibility and brand image. Thereby, it is giving the strong competition to flourish organic cooking oil. The cited firm is currently focusing on acquiring maximum market sales thus it has adopted effective measures and strategies to fight out the fierce market competition.
Above model helps in effectively analyzing and determining the strategies that H&B has adopted in order to create effective impact on the growth prospects of the current brand.
Holland & Barret have developed number of customers which enables the brand to occupy an effective brand positioning. On the contrary, Flourish is a new brand and has low visibility and slightly high prices which resist the brand to acquire an effective brand position. Holland & Barrett's target customers are end user and domestic consumers through its 1000 outlets in UK. However, it is important for Flourish cooking oil to improve its brand positioning by applying various promotional activities and also it can target home user consumers and large scale food restaurant.
The company has developed a well developed market prospects in developing and developed countries such as China, Spain, Cyprus, Singapore etc. this has helped the company in creating a wide impact in the growth and development of international sales and demand as well. The company's current financial position supports it to seek development opportunities in emerging market of Asia and Africa. Flourish on the other hand is the Indian company which has to develop the brand image in UK market in order to enhance sales.
H&B has developed wide range of products and services to provide effective value to its consumers, the company has developed a range of oils and variants in order to attract maximum consumers within the market. The company is continuously indulged in analyzing the needs and requirements of the buyers. Research and development process of the company has helped it in developing wide range of oil variants for the consumers. Flourish company in contrary specifically is focusing on developing organic oil segment within the market.
The diversified product range has helped H&B in developing strong business networks within the market. The company deals in medicines, vitamins, feed products and many more which has helped it in enhancing supply chain and business networks in UK and internationally as well.
2. E-marketing mix analysis
Conventionally, the marketing mix includes four important elements like, product, price, promotion and place. The marketing strategies developed for products are purchase in shops by consumers. In today's technological developed environment, the trend for purchasing online from internet is increased in consumers. Thus, organizations develop online strategies to attract and retain the consumers. The e-marketing mixes are as follows...
In UK, e-commerce sales is increasing with extremely high rates. People order products online because consumers know about the product features and facts as well as reviews related to the particular product. With regards to the increasing trend of online product shopping in UK. Holland & Barrett have also developed their e-product strategies and sells high volume through this sales channel. However, Flourish cooking oil is not using such mediums currently which are affecting its performance.
With regards to marketing mix, pricing is always been difficult to determine for product as it requires lot of considerations. Selling a product through online channels provide an opportunity to people to compare the prices for the products with other brand as well. H&B has adopted and managed competitive pricing strategies to attract and retain consumers. this has helped the business ain enhancing its online sales and providing additional revenue to the business. However, Flourish is currently not active on the online channels but it can be developed in future for attaining more business.
Through online portals, consumers can directly purchase products from manufacturer without involving retailers. Thus, Holland & Barrett have increased its online sales. The companies have created websites and collaborated with globally established e commerce websites such as amazon in order to provide easy availability of products and services to its consumers. Consumers order online and these particular brands arrange the home delivery for these customers at required place.
H&B is using these channels effectively which is increasing their brand loyalty and brand image. Social media marketing,s, Search engine mechanism etc are the prominent measures that the company has adopted to enhance sales of the products. However, Flourish can also use these channels in order to improve the brand image and visibility. online advertisement and banners, collaboration with established sites, Google add-word
3. E-communication mix analysis
H&B is widely active on social media sites which helps the company in developing effective two way communication with its consumers. Social media sites such as Twitter, Facebook, Linked In, Quora, Instagram etc has gained wide publicity within the market. The company has developed pages in order to develop its digital presence. It uploads all authentic information on the sites in order to keep the buyers informed. These sites also help company in developing a direct communion with buyers through chatting as well. The option open group formation facilitates in communicating with large number people collectively at one point of time. This method facilitates effective communication and develops a time saving method. Moreover Opt in emails, emails and website chatting are yet other measures that the company has adopted in order to enhance communication measures with prospective buyers.
1. Characteristic of digital media and social media marketing
There are several features of digital and social media marketing is being identified.
- It is the type of marketing in which different digital means will be used by the firm such as computer, tablet and smart phone etc with an aim to give information about the product in an effectual way.
- Here, the ads can be formulate by the corporation in both audio and visual way. Thus, through this way major impact can be imposed upon the customers and thus firm can influence them with regard to purchase the goods and services of enterprise in an effective way.
2. Recommending e-marketing communication strategy
It is recommended to the firm that it must use the famous social media channel such as Facebook and Twitter. Flourish cooking oil can also convert the opportunities into sales by developing online sales portal. The online portals contain all the features and benefits of the product with price. Also, it provides the opportunity to consumers to compare its prices and benefits of using this product with other brands. By using social media marketing and online sales portal, flourish cooking oil can also gain competitive advantage and it can increase the sales and revenue of the company. Social media is an effective channel of distributing the brand content among internet users around the world. Thereby, it is recommended to flourish cooking oil to use social media marketing and other technologies to increase brand recognition and value to the product quality. Opt in emails, emails and website chatting are yet other measures that company should adopt in order to develop wide communication measures with all the prospective buyers.
3. Target Market
The company presently is focusing on developing effective brand image within the UK market. For this purpose the target market of the company will be segregated in various measures. The demographic segregation will focus on targeting the UK consumers within the market. The psycho-graphic basis will be considered by the company in order to target health conscious buyers and family people. The concept of organic oil will help in positioning the product as healthy within the prospective buyers. Moreover young and middle aged buyers will be targeted in order to enhance the healthy prospect of the product. This will help the company in enhancing sales within the market and develop effective competitive position as well.
4. Social Media Campaign
Social media marketing is currently a very popular in UK people. People spend most of the time on internet and social media sites. However, it will provide Flourish cooking oil a good exposure and cited brand will be able to compete with its competitors. Social media campaign will helps Flourish oil in developing wide market opportunities within the market. The campaign will focus on developing a digital brand of the company. It will target social sites such as Facebook, twitter, Instagram, Linked in order to develop high product recognition within the market. The company will post the message about Flourish organic cooking oil on social media site, it will spread into so many people. Posting message in group of friends will help in developing an effective communication measures within the market.
5. Justification of how the given campaign will communicate the brand value
The campaign which will be formulated in the different social media means will provide the detailed explanation about the product. Thus, here through brand recognition and information the brand value will be developed in the mind of respective buyers. Thus, the given thing will help in raising the sales of Flourish cooking oil in UK market in an effective way.
It has been concluded in this report that to create the brand value and increase the sales and revenue of the organization, communication and brand promotion is essential. In today's technologically developed and competitive business environment, organization can use several promotional mediums. In recent years, social media marketing is very effective to promote brand and increasing the brand value. In addition to this, for the firm it is very essential that it must select its marketing tactic on the basis of condition prevailing in the external business environment. However, with an aim to get the information about the external business environment tools such as PESTEL and Porters could be used. With the help of given means an appropriate decision can be taken by the cited firm director.
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