Innocent Smoothies is a British company that produces and sells a range of fruit smoothies, juices, and food products. The company was founded in 1998 and has since become a household name in the United Kingdom and beyond, thanks to its innovative and ethical approach to business. One key aspect of Innocent Smoothies' success has been its pricing strategy, which has allowed the company to maintain a strong and loyal customer base while also remaining competitive in the market.
One of the main elements of Innocent Smoothies' pricing strategy is its commitment to transparency. The company clearly displays the price of its products on its website and in stores, and it also provides detailed information about the ingredients and sourcing of its products. This transparency helps to build trust with customers and allows them to feel confident that they are paying a fair price for high-quality products.
Innocent Smoothies also uses a value-based pricing strategy, which means that it sets its prices based on the perceived value of its products to customers. This approach takes into account factors such as the quality of the ingredients, the convenience of the packaging, and the overall appeal of the brand. By focusing on value rather than simply trying to compete on price, Innocent Smoothies has been able to differentiate itself from its competitors and appeal to a wide range of customers.
In addition to its value-based pricing, Innocent Smoothies also uses promotions and discounts to drive sales and attract new customers. For example, the company regularly runs special offers on its website and in stores, such as buy-one-get-one-free deals or discounts for bulk purchases. These promotions can be an effective way to increase sales and bring in new customers, while also helping to maintain the company's competitive position in the market.
Overall, Innocent Smoothies' pricing strategy has been instrumental in the company's success. By focusing on transparency, value, and promotions, the company has been able to build a strong and loyal customer base while also remaining competitive in the market. This approach has allowed Innocent Smoothies to continue to grow and expand, and it is likely to be a key factor in the company's future success as well.
Marketing Strategy of Innocent Drinks, Sample of Business plans
In summary, IMC involves a couple of processes. Various library websites such as proquest and Ebscohost and internet articles have been reviewed to get adequate information with regards to the Innocent Smoothies, consumption patterns and in planning the media vehicles and communication strategies to support it. The major benefit will be to capture the market segment which comprises of non-alcohol consumers. It also incorporates sponsorship marketing, internet marketing, database marketing and direct marketing. People do want to engage with the brands they love. Shut down production of products in the UK November 26, 2017 Jason Bourne says: Interesting read.
The bargaining power of clients of the overall indoor home entertainment market appears to be high as there are lots of gamers in the international home entertainment market therefore, the switching expense for clients will be lower. However, commercial avoidance by viewers diminishes specificity benefits. Innocent neonate 10% of our profits each year to charity, primarily to the innocent foundation, which funds rural development projects in the countries where our fruit comes from. In addition to the above, Innocent company exhibit a low customer base. Chan Kim and Renée Mauborgne 2017 Blue Ocean Shift: Beyond Competing - Proven Steps to Inspire Confidence and Seize New Growth, Sep 26, 2017 W.
In addition to that, the company ensures that its fruits are grown ethically in work conditions that are acceptable Health: Awareness on health has continuously grown tremendously in the United Kingdom via NPO advertisements. This is one of the reason why Apple stopped selling its plastic phones as it negatively impacted the image of the company as a deliverer of superior hardware products. The website will promote various initiatives undertaken to reach out to millions of children in planting and harvesting their own farms of fruits. The functional job includes performing core operations, the social job includes providing augmented services to promote family and social gatherings, and emotional job includes showing concern and commitment to take care of customers. To satisfy the specific needs of school children, Innocent Drinks developed new packaging designs which contains less than 200 ml Real Business. Marketing mix: Building a marketing mix based on the marketing plan objectives and limitations imposed upon it by the financial resources. Thus, the organization must venture heavily in the level of technology to attain satisfaction of customers Weisten, 2004; p.
The only thing to remember is that you should consistently measure the performance of your social media activities and adjust accordingly. We believe that food companies should do everything they can to get food to people in its natural state. Innocent Company currently does not have a market segment that is specific. Regulatory Framework — It not only impacts the type of the advertising and marketing campaign a company can run but also the type of products Innocent Smoothie can sell. Do you have any drinks that don't contain banana? Place: In the beginning, Innocent used the local shop for its products but as the popularity of products multiplied, the company gradually gained a great market share. In addition to that, the company can make use of the consumers in product positioning.
This reduces the cost of having different brand policies for different products. The three years have been extremely tough for the Innocent brand whose value has been decreased by one third. In this scenario, the firm must pool its nutritional characteristics of smoothies in order to make a rational decision to sell or not educate its customers on the benefits and health hence using this as a platform to position its products. Source: United Kingdom Bureau of statistics, 2009. They announced, for example, the deal with Coca Cola and the launch of their new coconut water.
Marketing Strategy of Innocent Drinks Essay Example
Their price sensitivity, changing tastes and preferences and high health consciousness requires Innocent Drinks to invest in customer research activities and closely monitor their attitude and consumption behavior. Segmentation strategy is the main issue affecting the Innocent Company. It can be through opening its own stores or just selling all the products online. Innocent has used different approach for its marketing by Argentina consumers of different products with different advertisements and campaigns. In addition, political instability in the nations where Innocent Smoothies runs will impact its business and development significantly. Therefore, the product is more appropriate for the old aged consumers.
With the global economic crisis threatening the entire world, people have cut back on spending tremendously. The company uses different methods of promotion from advertisement to personnel selling. Here are the best social media practices that Establish your brand Differentiating your company from business rivals in a crowded market place starts with your brand. Most companies are judged by consumers based on the physical evidence. As for the addition of new products such as soups and ice cream, this option seems to be too risky as well. This would be a clear negative for the company as they look to scale up their operations and increase market share across Europe. Employment not only impacts the purchasing power of the customer but also impacts the self esteem and brands she can associate with.
This is as a result of the 30% downturn of the UK economic environment. Source: United Kingdom Bureau of statistics, 2009. A back to top Are your products organic? In that case, the company needs to analyze its legal, economic and political environment. Assembling the startup team, 1-5. What is a small to medium-sized enterprise? It is evident that all three CEOs realize that each of the options may be accepted.
The company has achieved a sale of over mm pounds within a span often years and it has now around 250 employees. How to Conduct a 5C Marketing Analysis of Innocent Drinks Case Study The 5Cs of Marketing Analysis are - 1 - Company, 2 - Customers, 3 - Competitors, 4 - Collaborators, and 5 - Context. Environmental management and manufacturing performance: The role of collaboration in the supply chain. Designing Channels of Distribution for Innocent Smoothie There are two major Channel of Distribution related decision criteria — 1. If I was Coca-Cola I would consider moving all of my production not consumed in the UK out of the country.
. That Innocent leads the market although their products are higher-priced may imply that the prince range is justifiable. The two members of the company are doing greatly in this area to enhance positive public opinion of the company. Step 2- Selecting Target Customer Segment The second step of Marketing Process after completing the 5C analysis is — Selecting the Target Market. We've got a whole section on our website dedicated to this. Of the test results with anything being detected at all, these detections fall well within the Maximum Residue Limit MRL that you are allowed.