Tuesday, July 23, 2019
Marketing Term Paper Example | Topics and Well Written Essays - 500 words
Marketing - Term Paper Example This is supposed to give women that watch their weight an opportunity not to eat more than they need to stay fit and easily control their weight. In addition, while previously sold 100-calorie packages will continue being present in the market, the newer option is 130- and 150-calorie portions. The decision to increase the number of calories in a portion is, according to the author, based on a number of studies that reported that a 100-calorie pack was usually not enough for one snack. At the same time, it is worth noting that the brand has 85 percent brand recognition. Since it is a great competitive advantage of the brand, the owner company is using it again to raise sales of newly developed products. Furthermore, good brand awareness will be of a great help to SnackWell in the process of product repositioning. The decision to go with the relatively old but well-established brand will help to company to reach its target audience faster. Though pretty much of resources will be spent on product repositioning, the business will save on building brand recognition, since it already exists. In general, it can be said that these actions are based on the concepts of market segmentation, targeting and positioning, all of which are some of the most important elements of effective marketing. Market segmentation, in this case, serves as a basis for targeting a specific group of existing and potential customers.