Posted at 10.29.2018
Tiger Biscuit-Milk that are had by Kraft Foods is the merchandise that we thought we would analyse on. It is because we find that, it interest us how a huge company like Kraft Foods actually plan their marketing ways of compete with many other of their rivals on one of their major business stock portfolio, which is the treats category and position them well on the market. Tiger Biscuit are first start in 1997 in India by the Britannia Establishments. It became the company's greatest brand among its portfolios in the first year of its launching until today.
Tiger Biscuit is a blood sugar biscuit that are mainly created from wheat and milk to enrich its nutrition and much healthier compare to other sugar biscuits on the market. The main marketplace of the biscuit is the kids. Therefore, they make improvement in their biscuits by offering various choice and flavour. It is appetizing and affordable to match the modern moms who would like the best for their kids and take the role to allow their kids to be competitive nowadays. Lately, Tiger Biscuit are enriching "Iron Zor" in their biscuit which try to address the situation of iron insufficiency among the contemporary society, either young or older people.
SWOT analysis can be an overall view of their advantages, weaknesses, opportunities and threats. Talents and weaknesses are the positive and negative trends in the internal environment of the business which are in order while opportunities and dangers are external factors that are not under a business's control. Kraft Tiger can use their talents to overcome their weaknesses, capturing the opportunities in the external environment to get advantages and reducing their threats. They can be reap the benefits of a SWOT analysis by knowing and understanding their current position before make any further decisions and programs. Therefore, SWOT examination performs an important concern for Kraft Tiger Biscuit. The following are the SWOT analysis of Kraft Tiger Biscuit-Milk.
One of the strength of Kraft Tiger is they may be well-known. The reason they became so well-known is because they already can be found in the market for a very long period of time and also through advertising in the television. Besides, it is used by McDonalds within the campaign as gimmick. This will make it even more well-known. On the other hand, Kraft Tiger provides public a wholesome idea and image. Once we can see on its presentation, it mentions six bits of Kraft Tiger equal to one glass of milk. It could help in bones progress and also build more robust teeth. It has lesser calorie consumption and fat in their bars too compare to others, yet it still flavor nice and suited to all level of age groups. Next, Kraft Tiger is easily and easy access. Customers can get it everywhere such as department stores, Seven Eleven franchises and marketplaces which are close to their place. The price is acceptable and affordable too compared to the nutrition value it contains. Lastly, the presentation for Kraft Tiger is practical. It is very consumer-friendly as it can be take along easily.
The weaknesses Tiger include its business liquidation. By facing this issue, Kraft Tiger would cut down the cost of production and thus this will have an effect on its business performance at the marketplace. Besides, Kraft Tiger has high sweets level. Nowadays the customers are matter about the meals ingredient, they always want for less glucose and less salt. They might go for much more organic biscuit alternatively than too great.
The opportunity of Kraft Tiger is the changing of consumers' lifestyle. Nowadays, part of the society are made up of working parents, this means they would not have enough time to get ready breakfast for their family. Thus, Kraft Tiger can help replace the parents' responsibility to get ready a nutritional treat for breakfast time. Besides, Kraft Tiger positions their milk-flavoured biscuit as healthy goodies. Parents would allow their children to buy somewhat than purchasing other harmful snacks. It is everybody favorite, for parents and children. Another opportunity of Kraft Tiger includes the growing demand in the appetizers and savoury market in these few years. Women always look for better body form and thus, some of them will skip meals for keeping or slimming down their physique. Therefore, they'll go for healthy goodies such as Kraft Tiger which can make them full, yet not fattening.
There are numerous rivals in the biscuit industry, such as immediate and indirect competition. Direct rivals are such as Soda Crackers and Chocolates Love Letter. They'll actually contend with Kraft Tiger in the biscuit field. While indirect competition will be the tit-bits, such as London Engagement ring Tomato, Happy Nut products, etc. Although they are in several categories with Kraft Tiger, they still can be labeled as "wanting a talk about of the same cake". All of these either direct or indirect competitors will somehow influence Kraft Tiger on the market. Beside, Kraft Tiger facing is the increasing of the source costs such as glucose. The bigger the creation cost will lead to the increase of the product price that will reduce the biscuit demand.
According to typical of marketing, every product that is offer on the market has its phases of life pattern. Product life circuit stage is segregated in four stages, which will be the introduction stage, growing stage, maturity stage and decline stage.
Introduction stage is when a product is new in the market where folks have limited consciousness on the product. The company will take marketing effort to build a market for his or her new product. The usual marketing efforts considered are undertaking research on the similar product's prices among the competitors to create an average and affordable price for the new product. This is done to help the business to build their product talk about market one of the potential buyers to try on their new product which they have minimal knowledge about. Besides that, the company won't produce and distribute the product in a big scale just yet. This is because the company could not estimate the responds of consumer's demand throughout the market. Therefore, distribution is performed selectively. Campaigns are also done by aiming on the innovator and early on adopter of the merchandise to boost the potential buyer's interest in buying the product.
After taking necessary marketing work, company will analyse the responsiveness of consumer on the market towards the merchandise. If the reactions are reasonable, company will use marketing combination in their marketing strategies in order to extend their product's market share. Alternatively, company will also increase their production to meet up with the increasing demand in the market. New features are put into the existing product to enhance its quality and broaden up the choices for the client. At this time, company will maintain their price to encourage new customers to acquire their product at the same time help the company to stay competitive on the market. By now, the company would then broaden their network of marketing intermediaries such as retailers or wholesalers to make their product available in more areas. Special offers are directed on the prevailing customer to make a beneficial long-term romance and to influence more potential consumer to buy their products.
The third level of the product life cycle is the maturity stage where in fact the company's sales tend to be secure and competition will happen among the competitors. At this stage, the company's targets is simply guarding their market show and make income from it while it still find a way. In order to protect their market share, company will keep their products price less than before to remain competitive on the market. They'll also focus on their campaign on the variations between their products with the competitors. The business will also make improvement in their existing product to generate brand inclination in the consumers brain so the consumer will be able to distinguish their products from the competitor's. Circulation of product will be more intensive, where incentives are given to the distributor to encourage inclination from contending products.
The final level of the product life routine is the decrease stage where sales will drop dramatically. Usually the company will either continue producing, however in a limited quantity to satisfied the demand of the loyal customer or stop their production as it is no longer profitable to them. There are also company that will continue the creation but add a few new features in to the product.
Based on the merchandise life cycle phases, it is assume that Tiger Biscuit is in the growing stage. Based on Kraft's truth sheet, it is show that confectionary and treats have grown to be their major business collection which is 13. 7 billion (29%) and 10. 4 billion (22%) respectively. In such situation, when the company focused on the merchandise portfolio this will reveal that the collection is making earnings for the business. Therefore, when the portfolio is making income, the company will make improvement in their product to broaden the decision to create their market show and brand preference among the consumers. It really is clearly stated that snacks portion, which Tiger Biscuit-Milk is categorised, there are extensive flavours and alternatives make for the consumer to develop their brand choice compare with their opponents such as Nestle. Like a consumer, we can see that there is no major price change in the price of Tiger Biscuit-Milk because the launching of the biscuit. Tiger Biscuit-Milk is also easily within the market in any retailer, this would mean that the number of distribution of the biscuit is greatly encourage by the company.
Core product is defined as the satisfaction a person expects from a goods and services purchased. It can be discussed as the non-physical benefits associated with the merchandise that are sent to the customer.
Based on Tiger Biscuit, the mass market brand, the key product is the nutrition content in the biscuit. Besides that, customers experience the convenience that the product provides for the client. For example, parents who buy this biscuit for his or her children can ensure that their children are consuming healthy food that have less chemical substance content and at exactly the same time having sufficient nutrition and be slumber assure that their children will not be malnutrition. Other than that, for busy individuals who are always in a rush can have this biscuit while exploring in order to keep themselves from hunger. Apart from that, folks who are on diet can load their hunger by eating the biscuit and gain from its diet.
Actual product is thought as a tangible product which is consumable such as the brand name, quality, style or idea which customers are buying. Our choice of product which is Kraft Tiger Biscuit-Milk is one of the primary biscuit consumer choose because of the guaranteed and guarantee of its quality. Kraft created its own brand name which is Tiger biscuit among other rivals such as Parle-G, Danone, etc. For instance in Malaysia, whenever we see a product packaging which includes this animated tiger onto it, with out a second thought i would identify it as Tiger biscuit. The design of its presentation created a graphic for the merchandise itself.
Quality wise, Tiger Biscuit-Milk offers a healthy nutritional ingredient such as glucose, milk, wheat and 'flat iron zor. There are various minerals and vitamins in the biscuit that are sufficient for a human daily nutrition need. This will help to prevent malnutrition in any individual especially children in the 3rd world country that are most susceptible to malnutrition because of the overpopulation concern in the united states. This biscuit can also be used by children that are growing because of the high content of calcium which will help expansion and healthy bone.
The packaging of Tiger biscuit changes every once in awhile to enhance a new degree of product. For example, considering one product packaging for a long time period would bore the buyer. To be able to get new and existing consumer's attention, producer's would create a complete new look for its product.
The third level of something would be augmented product. Augmented product is defined as the non-physical part of the product or value-added services like a warrantee is given when you get a car or maybe electronic appliances. As for Kraft's tiger biscuit, its not just a biscuit like any other in the market but a biscuit that places healthy lifestyle as their main top priority. Besides that, Kraft's Tiger Biscuit also provide customer service online whereby individuals are in a position to contact them if there's any enquiry. This service provide customer with more info on the product.
Segmentation and Placement Strategy
Nowadays, consumers in any market have different in their wants, resources, location, buying attitudes, and buying methods. Companies recognized that they can not satisfy to all or any consumers in the market because they're too many, too widely scattered, and too mixed in their needs and buying practiced. For this reason, the firms themselves will make changes extensively in their abilities to serve different segment of the market. Through market segmentation strategy, companies identify the top, heterogeneous markets evidently and then split them into smaller segments that may be reached more effectively and successfully with products and services that matching with their unique needs. What customers will we provide? There is 3 ways segmentation that used in the product; it is Era and life-cycle segmentation, Occupation segmentation and Flavour segmentation.
Different folks have different behavior, need, and personality. By this segmentation, different people have different flavour on their food. Some individuals like the chocolates flavour, some people like vanilla flavour and etc. Maybe a few of them like two or more of the flavour such as someone like chocolates and also strawberry flavour. Our product acquired chosen the dairy flavour biscuit. Clearly, it was only ideal for those individuals who like the dairy flavour.
Age and life-cycle segmentation
This segmentation separates the consumer according to the consumer's age and offer different product to the related consumer. In this product, it could be divided into years below 18, 19 - 45, and 46 and above. Inside the category time between 19 and 45, it was produced by adults. Many of them are occupied now, or beginning to develop their own job. All of them are occupied to do they work and no such time to having a packet of biscuit. Besides that, the majority of them like to have an effective meal rather than the biscuit because they consider the biscuits cannot make the belly full. For the category time 46 and above, most of them are senior. The body useful decline also occurred at this stage. Biscuit which contain high sugar are not suitable for them because it raise the risk for you to get diabetes. In this below 18, the majority of people in this category are young adults. It could be say is the developmental level of man. Puberty also happened at this between 12 until 18. They used the energy more than the other categories. So, the biscuits that high sweets, high diet and tasty are perfectly for them. Definitely, the category that most preferable for this segmentation are the category era below 18.
This segmentation is dividing the buyer based on the occupation. Occupation can be explained as the activity, profession that occupies a person's attention, or main activity in your daily life that you do to make money, continue the life span. In this segmentation, it can be segment to many kind of profession. After examined and categorized, it could be divide as specialists, employees and students. Professionals and workers largely is the complex, intense, and time-consuming job, the majority of them will occupied on their job. Same reason as the age segmentation on the above mentioned, they will favor having a proper food than the biscuit. So, students will be the most more suitable consumer in this segmentation. For the reason that almost of them are teenagers, they can have this kind of biscuit as their breakfast time or lunch time during college time. Furthermore, the levels of biscuit exactly fulfill the student's food intake and also convenient to carry to institution.
After the market segmentation process incurred, the next step is market targeting. Market focusing on is a process for a firm to estimates the many types of segments and choose which sections assume to be serve are the better to the company and consumers. For the segmentation above, flavour segmentation is a good marketplace for our product. For the reason that our product only has exactly one flavour, which is milk flavour. Once the product manufactured, the potential buyers of the product big probability are the dairy flavour potential buyers.
Market setting is when marketing expert uses some ways to impact the consumer's impression of the products or brand in accordance with the impression of competitor's brand or products. A company will show the product's advantages that can contend with their competition. Its main goal is to position the nice image of the merchandise or brand in the consumer's brain. For our product, its main target is to look after consumer's health. Besides that, it put a tiger as its logo to symbolize a powerful, energetic dog. Hereby, this creates consumer's assurance to acquire energy resources by consuming this product. Besides that, the element of the products show that contains eight kinds of supplements and six types of minerals. Among a special mineral that our product provided is calcium. Calcium can be an important component of a healthy diet plan and necessary mineral for life. Building stronger, denser bones and keeping bone strong are the key function of the calcium. Calcium are available in milk, cheese, and yogurt. Knowing that our product is dairy flavour biscuit that comprised calcium, it have satisfactory requirement to compete with another biscuit supplier.
In market, once a fresh product appears, it'll face competition with another product. Because of this product, it got faced a rival that is Jacob biscuit. Its rival, Jacob biscuit used the slogan ''Jacob's Walk of Life'' which imply it product can go with the consumer as long as the consumers lives. It includes strongly competitive with this product because their main objectives will be the same with our product that is to care for the consumers.
Consumer buying behavior is defined as the process of decision making and involvement of your consumer in buying a product. Every consumer has different buying behaviour towards investing in a product. The sort of buying behavior of a customer varies greatly between each consumer predicated on their level of involvement in purchasing the product and intensity of interest in purchasing the merchandise. The amount of involvement in purchasing a product varies predicated on price, income level, risks faced, and rate of recurrence of purchasing.
There are four categories of consumer buying behaviour which is sophisticated buying behaviour, dissonance-reducing behaviour, habitual behaviour and variety seeking buying behavior.
Complex buying behaviour is where the buyer has high engagement in purchasing the merchandise, for example, buying a residence. It is because the product that the buyer wants to purchase is expensive, risky and purchased infrequent. The buyer would also have the ability to see significance variations between the likened products and the products.
Dissonance-reducing buying behavior is when there exists high engagement in purchasing the product however the buyer recognizes few distinctions between products, such as buying a carpet for the living hall. This is because the merchandise could be expensive or purchase infrequently and there is a threat of buying the one which do not suit the environment of the hall but there are no significant or few dissimilarities between your carpets sold in the market.
Variety-seeking buying behaviour is where in fact the buyer has low participation in purchasing the merchandise but perceives significant differences between the products. For instance, when consumer desires lunch, he will do research on the food or to check out the food price around investing in a car because food is essential. However the consumer is very particular on the flavor of the food. Therefore, he will swap to other restaurant to seek for varieties.
Habitual buying behaviour is when you can find low engagement in purchasing a product and perceives no significant variations between products. For instance, when purchasing home necessity such as sweets and salt. Consumer does not start to see the brand differences because it is something that they purchase often.
Based on studies of Tiger Biscuit-Milk, it is clear that the buyer buying behaviour upon this product is the variety-seeking buying behaviour. Generally, no individuals are highly involved with purchasing a biscuit. All of that the clients require is the distinctions of Tiger Milk Biscuit compare to other sugar biscuits on the market. What differentiate Tiger Dairy Biscuit to the other glucose biscuits in the market are the social obligations that Tiger Biscuit have after the customers by providing nourishment in their biscuit to prevent food cravings and malnutrition to occur.
Almost all the consumers will go through five decision making process before, during and after they buy a product. The five decision making process is the situation popularity, information search, evaluation of alternatives, purchase decision and post-purchase decision respectively.
At the beginning, the buyer must identify what is the problem that they are facing and think of a remedy to solve the problem. An example predicated on Tiger Biscuit-Milk, whenever a consumer is starving but at exactly the same time, he is in a hurry to work. He does not have sufficient time to have a proper table-top breakfast, so, he is able to choose to stay hungry or to buy something light to fill his hunger. It can be bakery, biscuit or etc.
The second level is the information search where the consumer can get information by either doing research, friends and family (guide group) or advertisements. He goes into a store and enquires the store assistant (research of information) for recommendation of snacks he can have for breakfast time. The store assistant advised Tiger Biscuit-Milk, Oreo, Gardenia -tuna bakery and etc. (gain of information).
Third level is when the consumer evaluates the info that he benefits from the info search and evaluate which is the foremost after comparing the information. He'll compare all the information provided by the store helper to identify the best option. Usually when there are minimal brand variances, consumer will make decision based on their brand desire.
After analysis the suggested ideas, consumer will make a decision which is the best option for these people and which brand that they favor if there are few differences in the economic factor such as price and number. If there are significant variations between your products, consumer will know which exactly is better. He decided to buy Tiger Biscuit-Milk as it is healthy and dietary. This is the purchase decision that the consumer made.
Lastly, post-purchase decision is the stage where the consumer had already try the product and identify whether are they satisfied or unsatisfied with the merchandise. In cases like this, he will try the biscuit and identify whether he like the flavor of the biscuit or not. If he is unsatisfied with the biscuit, he will not buy that biscuit again. On the other hand, if he is satisfied, he'll notify his network (friends & family) how good is the merchandise. If this is actually the case, he's indirectly promoting the product with respect to Tiger Biscuit.
In realization, Kraft Tiger biscuit became a brand name itself on the market and is accepted worldwide. Predicated on reports, this product is at a growing level which experience well-defined increase in earnings and building up of customer romantic relationships. Besides that, the three degree of a product like core, actual and augmented product points out the benefit for the biscuit to consumers. This section would partially determine the post-purchase decision on a customer. Segmentation is another section whereby it occurs 3 ways which is flavour, job, and era/life cycle segmentation. Company will aim for the segemented market and position it. This process enables the product to squeeze in a certain segment in the market that will lead to maximum income. A factor that could effect the Kraft Tiger biscuit sales would be their competitors mainly Jacob's and Parle-G. Competitive market means Kraft need to focus on producing a better biscuit compare to its challengers. Hence, consumer would benefit from its increased biscuit every once in awhile. Moreover, consumer behaviours would determine Krafts marriage with its customers. There are four categories which is intricate buying behavior, dissonance-reducing behavior, habitual behaviour and variety seeking buying behaviour. Studies show that variety-seeking behavior is involved in purchasing Kraft Tiger biscuit because of its low participation and brand variations. Finally, consumers will proceed through five decision making process before, during and after they purchase a product which is problem identification, information search, analysis of alternatives, purchase decision and post-purchase decision. Consumers will go through the first four level before purchasing the biscuit and the last stage after using the biscuit.