The following report would outline the discussion on the marketing strategies adopted by the Boost company. The marketing strategies of the Boost company would be analyzed through its marketing mix strategies followed by the company. In addition to this competitor’s analysis would also be undertaken to identify various competitive strategies adopted by the Boost juice to attain a competitive edge over the competitors for the long run. With the help of these marketing tools, it would be easy to identify various marketing strategies currently adopted by the company or the strategies which the company is planning to achieve in future.
Boost Juice was established in the year 2000 by its founder Janine Allis. Boost juice has main business operations in selling and trading of the fruits and the vegetables. The main objective of the company is to offer healthier food to the consumers so that they can live a healthier life and enhance their standard of living. The Boost juice has major operations in Australia. However, the company has a total of 350 stores in approximately 17 countries. The company majorly targets teenagers who are more prone to health-conscious diet (Boost Juice, 2019).
Marketing Mix Strategies adopted by the Boost Juice
1. Product Strategy- Boost juice has effectively implemented the market research to find out the need and the demands of the consumers and then it has applied the same to its product strategy. The Australian market is currently facing issues regarding obesity rates and low nutrition health. The company researched this market condition of the target market and offers the products such as fresh juice, protein and the energy juices and the calorie counters, boost snacks etc. that is helpful for the consumers to solve their issues related to the health concerns and higher obesity rates. In addition to this, the company also offers a customized product to the consumers for increasing their customer base. So, the main strategy adopted by the Boost juice is the focus strategy as its products are focused only on the health-conscious consumers (Kim, Nam and Stimpert, 2004).
2. Price strategy- Boost juice is adopting a competitive pricing strategy to price its products. The company is facing huge competition from companies such as Pepsi, Coca-Cola and other non-alcoholic beverages. These companies are coming into the healthier soft drinks market and charging prices according to the customers’ needs and the requirements. Boost juice also follows the moves of its competitors in determining and fixing the pricing of its products.
3. Place strategy- For effectively distributing its products, the company has opened various retail outlets and it has formed partnerships with leading retail companies such as Woolworths and Coles to sell and distribute its products in the Australian market. In addition to this, the company has also formulated a business model on the franchisee basis and it has approximately 100 franchised stores across the globe which are effective in selling the products of the company to its targeted customers within a short period of time and in an effective and efficient manner.
4. Promotion strategy- Boost Juice adopts both above the line and below the line promotional strategies to promote its products to the targeted customers. In case of above the line, the company promotes its products through TV, radio etc. and in case of below the line promotional strategy, the company sells its products through the billboards, posters, discount offers etc. In addition to this, the company also promotes its products through the official website of the company which is customized according to the needs and the desires of the customers. The official website of the Boost juice provides every detail about the product, it's pricing, nutritional values etc. (KS, 2016)
Boost Juice faces major competition from the well-established brands such as Pepsi, Coca-Cola etc. In addition to this, company also faces competition from the pulp juice and Starbucks etc. Boost Juice has created a competitive advantage over its competitors by providing a better experience to the customers through continuous innovation and the better customer experience to the customers in an effective and efficient manner. The company adopts Porter’s Generic strategies that is focus strategy. Under this strategy, the company only focuses on producing the products for the health-conscious consumers and mainly the young generation (Kim, Nam and Stimpert, 2004).
So, in the nutshell, it can be concluded that the Boost juice is following various marketing strategies to attain a competitive advantage over its competitors in long run. The above report discusses the marketing mix strategies followed by the Boost strategies that includes price strategy, product strategy, place strategy and the promotion strategy. In addition to this, the above report also discusses the strategy adopted by the Boost juice to achieve a competitive edge over the competitors such as Pepsi, Coca-Cola etc.
1. Boost Juice (2019). Boost Juice. [online] Boostjuicebars.com.my. Available at: https://www.boostjuicebars.com.my/ [Accessed 19 Feb. 2019].
2. Kim, E., Nam, D. and Stimpert, J. (2004). The Applicability of Porter’s Generic Strategies in the Digital Age: Assumptions, Conjectures, and Suggestions. Journal of Management, 30(5), pp.569-589.
3. KS, A. (2016). Brand and Marketing Mix-A Review. Journal of Global Economics, 04(03).