Part-A Case Study
Read the Chapter Case Study entitled Yogurt Lovers say, “It’s All Greek to Me” from Chapter- 11 “Product, Branding and Packaging decisions” Page: – 381 given in your textbook – “Marketing” (8th Edition) by Dhruv. Grewal and Michael. Levy (2022) and answer the following Questions:
Assignment Question(s):
Generally speaking, what type of product is yogurt? Does your answer change for the different product categories that ‘Chobani’ has defined for its offerings? (2 Marks)
Is ‘Chobani’s’ introduction of yogurt for children a brand extension or line extension? Explain. (2 Marks)
How is ‘Chobani’ positioning its various product categories currently? How is it communicating its current positioning strategy? (2 Marks)
Part-A
Yogurt, like other fermented milk products, is produced by adding yogurt culture to milk and allowing it to culture. Chobani has maintained its position as a popular favorite for many years. Despite the fact that their brand is worth $2 billion, they have retained their position as market and industry leader in the United States. Competition in the market has increased rapidly, prompting the corporation to develop new product lines over time. Chobani’s rebranding needed some minor adjustments, but the company is still very much rooted in the yogurt market. Chobani’s new Gimmies collection, which includes milkshakes as well as yogurt tubes and mix-in containers with crunchy add-in possibilities, isn’t strictly in the Greek yogurt market. Furthermore, the introduction of coconut-based yogurts as a dairy-free alternative was an effort to broaden their brand’s appeal.
Gimmies, a children’s yogurt, is an example of a successful brand expansion. There are several key distinctions between a brand expansion and a line extension, despite their similarities. In the business world, a line extension occurs when a company with an established brand introduces a new set of products that fall under the same general category. A brand extension, on the other hand, occurs when a company that is well-known for selling one product begins selling another. Chobani has created a new product line that does not come under the categorization of Greek yogurt, and Gimmies does so by offering milkshakes and mix-in containers with crunchy add-in possibilities.
3.Chobani’s success in the market for Greek yogurt is largely responsible for the company’s current position as market leader. The firm has thus opted to expand into additional product lines in order to compete with the increasing and diverse market. Gimmies is a kid-friendly yogurt that just came out. Its target market encompasses a wide range of people. Their packaging and advertising clearly reflect this goal, since they were clearly made with kids in mind. Chobani has been working to disassociate their brand from the perception that they exclusively sell yogurt made from milk. Thus, the introduction of their new coconut-based non-dairy yogurt is a major step forward that might significantly help to their rebranding efforts. Chobani’s current positioning approach is well-suited to the company’s goals, as seen by the company’s recent successes in expanding its market share and brand value and establishing lasting, mutually beneficial connections with its consumers.
Part-B Critical Thinking
Answer the following questions based on the concepts discussed in Chapter- 13, 15 and 18
Assume you were hired by the local grocery store to help in assessing its service quality based on the five service dimensions to determine the overall service quality: reliability, responsiveness, assurance, empathy, and tangibles. How would you go about undertaking this project?
Price skimming and market penetration pricing are the two important pricing strategies used by Marketers. Ahmad wants to launch his new backpack in the local market. Being a marketer which pricing strategy you will suggest him to use and why?
Do you find any difference between advertising and public relations? How can public relations contribute to a firm’s IMC? Explain with the help of a suitable example.
Note:
Answer all the questions based on your understanding from the concepts discussed in the class, PPTs and Text book.
Justify your answers with at least two references for each question.
If plagiarism is more than 25% you will get 0 marks for the questions concerned.
Part-B
My initial step in assisting the local grocery shop with their service quality assessment would be to examine the business’s present situation and the level of service provided. To achieve this, I would have to investigate both the strengths and weaknesses of the current setup. I would survey clients to learn their pain points and get their suggestions for addressing them. Finally, in this day and age of constant connectivity, I would contact the company via its social media channels to learn more about customer experiences.
After giving this some thought, I’d form my own assumptions and then implement my best guess as to what is in everyone’s best interests.
Penetration pricing, which aims to completely submerge a product or service into a market, is one of the best options here. As the product’s brand name becomes more well-known, prices rise from their initial cheap introductory levels. It will be crucial for Ahmad to join the market at a reduced price and develop the total brand value to boost the price at a later point, since the backpack sector is incredibly competitive. It will give him a leg up in the marketplace and allow him to better compete with other businesses by giving him the necessary tools to establish his brand as unique. Overall, a company’s ability to reach out to low-income clients, a key demographic in such situations, may be improved via the use of Market penetration pricing. There is little doubt that it will raise the company’s price, as the increased brand value and acceptable level of assistance it provides will attract more potential buyers.
Public relations and advertising provide complementary functions in reaching and engaging with consumers. Public relations outcomes are gained by giving the media with information in the form of press releases and pitches, whereas advertising space is purchased outright. It’s not free to submit a story to a newspaper, but you can certainly purchase online banner ad space. “Owned” media refers to the written and visual materials you develop and distribute yourself, such as on your website or in your social media profiles. Business-to-business (B2B) and business-to-consumer (B2C) marketplaces both need enterprises to inform existing and future clients of the value and advantages of the goods and services they provide. The goal of integrated marketing communications (IMC) is to ensure that a company’s many promotional efforts across various channels (e.g., broadcast, print, online, mobile, direct, and social) all communicate the same message to consumers. Advertisements for Campbell’s Soup, for instance, often include the tagline “Mm, mm good” in various media including newspapers, magazines, websites, and radio and television broadcasts. Consistency in the delivery of brand or company information is an important factor in building recognition and trust among consumers and prospective customers in all of a company’s target areas. Campbell’s utilizes two advertisements with largely identical themes but distinct audiences.
