Marketing Management Assignment help on : Heinz Wattie

MARKETING

EXECUTIVE SUMMARY

This paper contains and covers descriptive information about the organization “Heinz Wattie’s” that operates their business in the area of manufacturing of foods and provides its services in domestics and international market. This paper majorly focuses on the three key aspects of the organization market orientation and concept of value, macro environmental analysis and to identify the existing and potential target market and the list of approach that develop the brands and products to reach target market with the help of strategic plan that develop through the analyzing the capabilities of an organization and provides various key information that helps to move in the corporate. To discuss all the above three key aspects this paper presents all the information effectively the paper is divided in different sections that consists of all the required information that provides complete and clear visibility about the topics. The paper begins with small introduction about the paper that provides descriptive information about the paper and its key topics that needs to cover in the below sections in descriptive manner and about the company “Heinz Wattie’s” that focuses on its operation, area of business and current scenario in terms of use tactics and strategies that used Heinz Wattie’s to create, maintain and retain its market. In the further sections the paper covers and focuses on environmental analysis through presents SWOT and PEST analysis of the Heinz Wattie’s that provide information about scope of opportunity or improvement area that indicate about the area of expansion and approach and to sustain the business in the competitive market. In the further sections the paper consists of information about the all the defined three key aspects area that provides the entire required information. Apart from all discussion the further section focuses and addresses all the critical success factors, strategies and objectives and their action plan with implementation schedule. At the end the paper concludes all the discussed information in precise manner that create a summaries report of the paper.

Introduction

As in the executive summary in the paper provided the information about the structure of the paper that used to discuss entire required discussion about the topics. This part provides information about the key topics that are needed to be discussed in the below sections. This paper presents all the information about the company Heinz Wattie’s that operate its business in the manufacturing and services of quality food in the domestics and international markets. The paper discusses all the topics that contain key information in the following manner: section one contain about the society interference that provides information about the area of marketing that is concerned with create, maintain, communicate deliver and exchange offers and benefits that have values created by the Heinz Wattie’s for its customers through present the descriptive evaluation of the marketing. Section two: Environmental Analysis and Market research that consists of information about the customers’ needs and requirements on the basis of macro environmental (SOWT and PEST) analysis of the market and present the future scope of the market and area of opportunity for the business and the last section three discuss about the target customers and product strategies that Heinz Wattie’s is using in the current scenario to enhance their market share and serve the customers’ requirement in the better manner. Apart form this the last section describes the target market segment of the Heinz Wattie’s brand/product and provides information about the customers’ needs to design (use demographic, behavioral, psychographic and geographic variables) products to cater the actual requirement.  With the help of target market and total product concept this section provides key information about the competitors and market scenario to increase the market share and market capture by serving goods and services to the their customers.

The company Wattie’s founded by the James Wattie’s started with fruit pulping and canning businesses in the initial stage. Wattie’s has been manufacturing high quality food products in New Zealand Since 1934. In the present times the Heinz Wattie’s has become a major contributor in the New Zealand with supplying of high food quality to the supermarket and also created employment within the New Zealand and the company have annual turnover in excess of $650 million and workforce of more than 1,800 involves seasonal workers. The Heinz Wattie’s has two main production units hasting, that has two processing facilities and Christchurch. The Hastings has the largest cannery in the southern hemisphere that consists of world scale facilities. On the other hand the frozen products plant in Christchurch that produces 50,000 tonnes of frozen pea, carrots and beans a year. To establish their position in the market the Heinz Wattie’s used numerous key strategies and tactics that help to create a positive image and position in the consumer food market. Today the Heinz Wattie’s is the highly successful brand or company in the food sector in the New Zealand. Heinz Wattie’s conduct numerous marketing researches, understand the domestics and international market through skills, knowledge and abilities of its experts, focuses on their consumers and provides range of quality products to their customers, establish commitment to the consumers, and move towards to develop innovative products for the customers.

SECTION ONE – SOCIETY INTERFACE

 Marketing management philosophies

Heinz Wattie’s is centered with the global portfolio of the iconic brands. With the help of leadership skills and abilities, it has reshaped the business to focus on the leading brands and the market positions with the help of strong capabilities. This creates the importance to drive through consistent and the profitable growth. Heinz is known well for the good investment and it is committed to the industry leader. Thus it creates the importance of brand with respect to global sales and total sales of the company. Heinz also operates by the important philosophy of global coordination and local execution. This way, it creates huge benefits of multinational scale so as it creates the benefits of purchasing, finance and development so as marketing and other business conditions.

Innovation in this company is driven through new product development and marketing that is based on the consumer tastes so as other business conditions. Innovation is the goal of new product development and the consumers increasingly creates the great tastes of food that fits the healthier and the most active lifestyles. Heinz is positioned well with the market in terms of products such as beans, potatoes, tomatoes and other healthy and good foods. The company also followed the approach of well positioning statement and they developed the scientific advances with respect to enhancement of child as well as baby development. Heinz also created the approach of emerging market conditions. They focused on the millions of consumers classes every day. They also increased the investment in terms of marketing to attract more number of customers with respect to increase in the TV, radio, print ads and other online medium and support. Thus they also believe in expanding the market with the target groups as well as they are known well as the supplier globally of micronutrient products.

They accelerated through the guide development for satisfying their consumers with respect to its tastes and other preferences. Heinz is now committed to the world’ trusted and the most important good tasting with the help of nutritious foods every day. (Heinz.com 2012)

The company also established the strong reputation with respect to the effective responses and better tastes. Heinz Wattie’s also created the market opportunities to the growth and the development. So, they took the step of in-depth market research for better dynamics and product innovation with the help of marketing research. This way, they also encouraged the market for increasing the interest of the consumer. This also improved the sales and remains sustainable. The target market for this product and company was designed as the young people. They covered the broad age group and ensured the increase in the product sales. The use of traditional advertising conventions also created the new media strategy and the use of television proved the better growth, thus it inspired the household segments with the support of TV, news and media etc.

The value can be created through the products, services and brand with better strategies and concepts such as:-

Heinz Wattie’s products are not only popular at home but it is easily found in the hospitals, aged care facilities and caterers, cafes, restaurants and schools etc. They are also very much passionate about the needs of the customers and this way, they meet the customer needs and

solutions with respect to all the expectations as well as with the greater approach of high and superior quality suppliers to the hospitality sector in New Zealand. (Heinzwatties.co.nz 2012)

They also created high values with the help of supply chain efficiency and other improvements. They also increased the efficiency of the transport. They also respected the trusted employer and they were engaged in the sustainability initiatives. (Heinz.com 2012)

The company also creates high values with the help of sharing the information and they also believes in the team work, collaboration, and results so as innovation and high integrity for better success. Thus the company also embraces with greater ideas; respect every individuals so as to meet with the simple and the creative solutions. They also define the sustainable future to create the path of achievements. This way, they deliver the high amount of success and integrity with highest level of ethics and trust so as also it ensures the better quality products. They are the oldest and the most trusted consumer brands and also delivered the wide range of foods with the best taste and value as well as convenience. This created the better environment and inspired people within and outside the organization. The organization also contributed the success as well as satisfaction for high success. (Heinzwatties.co.nz 2012)

SECTION 2

ENVIRONMENTAL ANALYSIS & MARKET RESEARCH

Macro environment analysis of Heinz Wattie’s

To understand the effective analysis of the organization, there needs to be discussed about two important analyses such as the SWOT analysis and the PEST analysis which is as discussed below:-

SWOT Analysis:

This analysis mainly focuses on the strengths, weaknesses, opportunities and threats such as:-

 It really has a very good reputation and a strong image in the minds of the consumer.

It brings with high quality and better consistency of products to the consumers

Thus it continuously focuses on high quality

It has the strong global brand image

This company operates in not less than 200 countries

They have more than 5500 products variety all over the world.

Thus it is famous for advertising and other tools of promotion and marketing facilities.

They also focus on best slogans for advertising that creates the consumer awareness and high level of attraction among the people.

WEAKNESS 

Decline in sales is the major weakness of this brand.

This product life cycle might be declined.

The prices are really high OPPORTUNITIES

Market growth creates new opportunities in the minds of the consumers

Thus they make best needs and opportunities in the market for the strong presence and new opportunities.

The opportunities could be increased with respect to traditional products and the modern companies so as the modern FMCG companies.

The company could also use the information for full advantage and create the process of innovation with the help of new ideas and new product development. THREATS

There is always a threat in the company.

Company might cause the threat with new competitors and important famous companies. For example: HP sauces

There are also numerous brands in the same product line that produces high variety products within different price ranges in the market place.

PEST ANALYSIS

The PEST analysis is the external macro environmental factors such as the political, economical, social, technological and legal as well as environmental factors.

These factors need to be researched for preventing it from threats and control the firm’s position. This also helps to create new opportunities and also it takes the high advantages for the environmental perspectives.

Heinz Wattie’s is comprised of great laws, rules and regulations.

It is known as increased guidelines and relevant practices in terms of labeling and advertising.

It also complies with wage legislations and overtime facilities

There requires the necessary changes in terms of health and hygiene factors.

 ECONOMICAL FACTORS

The state describes about the sales of the products of Heinz.

There is high fluctuation depends on the fall and increase in the economy.

This also increases the money to spend on the luxury products and the less income to spend on the purchase of the necessary items such as vegetables and other ingredients. In this factor, it highly matters a lot.

There is also a strong labor market that increases the wages and other important parts.

SOCIAL FACTORS

Attitudes and health related consciousness is the major factor in this parameter.

The company focuses on certain parameters to meet with these changes

Changes in lifestyle causes high time to create the products.

In traditional markets, the company has different products and this is well known and available to older generation

The modern markets of this product attracted the young generation as well in the market.

Thus they also created new and unique flavored products.TECHNOLOGICAL FACTORS

New product development creates the process of innovation.

Information technology and its uses help to keep the fast moving technology.

This also transported through new generations and model.

PORTER’S FIVE FORCES

Force field analysis helps to understand the techniques between the forces of resistance. This helps in the key areas such as the threat of entry, the power of buyers and the suppliers, the threat of substitutes and rivalry.

Threat of entry: Entry barriers are low and exit barriers are also low.

Threat of buyers: Buyer powers are also low in this company.

Power of suppliers: It is also low as it does not depends on a particular supplier

Threat of substitutes: There is high threat of substitute as it is a more quality conscious product; it established the good and the strong image in the minds of the consumer.

Competitive rivalry: The rivalry is medium to high and the number of competitors is also high but the product differentiation is low between the competitors. (Wiig 2012)

SECTION 3

 TARGET MARKETING AND PRODUCT STRATEGIES

The target market of Heinz Wattie’s is especially the young segments and this is designed as follows:-

TARGET MARKET AND SEGMENTATION

Gender- Young market, families, households

Family Size- Large

Business class families/ College students/ Hospitality industry

Income- Good income & high income groupPsycho graphical Middle upper class, Behavioral Frequency of purchase- Regular basis in life time

PRODUCT LIFE CYCLE

The product life cycle concept describes about the encouragement of the stakeholders and this also creates the value to the innovation strategy. The life cycle describes about the evaluation of the product effects and this quantifies the impacts of the environment accordingly. This also helps to describe about the eco-friendly and eco-efficiently savings in the environment. Thus the packaging creates the importance of the role in terms of environment protection. This also increases the awareness and innovation. Thus it creates the innovation and produces the importance of companies. The new ways of producing products for continuous customers reduces the cost and also it increases the attention for rules and regulations. This creates the ability to contribute high success and also creates the innovation with technology. Thus it is sustainable and profitable in terms of outcomes. (Pagan 2012)

Conclusion

To conclude, the paper covers all the key information that focuses on the three aspects market orientation and concept of value, macro environmental analysis and identify and understanding the target market to develop and communicate the brand/ product in the market in effective manner. The Heinz Wattie’s that operates its business in the area of manufacture of high quality food products and cater these products in the market successfully.

Thus this paper also focused on the different segments with respect to the target group and also this focused on the segmentation part.

The paper evidently described about the company background in the first section with respect to the introduction as well as it focused on the importance of awareness of the customers so as it dealt with the different products, services and other brands.

In the next section, the paper focused on the environmental analysis and market research that helps to discuss the importance of household segments with the support of TV, news and media etc.

In the next section, the paper discussed the SWOT analysis, PEST analysis and porter’s forces and product life cycle etc.

Thus at the end, the paper also provided the important evidence to prove the right strategy at the right time successfully.

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