Consumer Marketing And Branding Strategies Essay

2147 words - 9 pages

Consumer Marketing and Branding Strategies:
Product Modification and Pricing Strategy

Product Modification and Pricing Strategy
Globalization of a product requires developing a strong marketing strategy that includes researching the product’s market position, the required product modifications if any, and the optimal pricing strategy for success in the new market. The following sections will detail the discoveries and recommendations for a successful product launch with regard to product modifications and pricing strategy.
Marketing Position Statement
Rice production yield from Stuttgart, Arkansas and other parts of the ...view middle of the document...

As a result, the Nigerian market needs long grain parboiled rice from the United States at a considerable price so as to outwit the locally produced and Asian imports. The rice is long, brownish, clean, well polished, and less starchy thereby making it non-sticky after cooking as well free from stones and foreign materials. The unique nature of rice from the United States is the reason that it is preferred over other imports, especially by the middle and upper class for home consumption, gifts, parties, and restaurants.
Industry and Product Assessment
Nigerian Market
According to Porter’s Five Forces, the state of competition and profit potential in industry depends on five basic competitive forces: new entrants, suppliers, buyers, substitutes, and market competitors (Hollensen, 2007). The five forces have interests in the industry and therefore determine the profitability of exporting the United States’ long grain parboiled rice to Nigeria. The Nigerian rice market is not easy to penetrate because of the availability of competitors such as the local producers and importation from Thailand and other Asian countries. The existence of substitutes, therefore gives the buyers (Nigerian consumers) a high bargaining power. Nonetheless, the buyers are interested in the product because of its exclusive high quality. The USDA/FAS Attaché reports in 2001 that, “Although American rice has not made major inroads into the Nigerian market to date, it does have a market potential based upon its high quality. Many Nigerians remain familiar with US rice from the oil boom era of the 1970’s and 1980’s when branded Uncle Ben’s rice was a household name.

United States
In applying Porter’s theory, the research will assess the domestic Rice industry through an analysis of the market competitors, suppliers, they buyers, substitutes, and new entrants into the industry.
Market Competitors
The six states that are major players in the U.S. Rice Industry are Arkansas, California, Louisiana, Texas, Missouri, and Mississippi. The industry operates as an oligopoly therefore lessening competition. Currently, Arkansas dominates the rice production industry in the United States. The industry dedicates a total of 2,748,000 acres to production. According to the U.S.A Rice Federation (2010) website, Arkansas claims 48.2% of acreage at 1,325 acres. California comes in a distant second claiming 19.3% at 533 acres, and Louisiana claims 13.8% at 378 acres. Mississippi claims 6.9% at 189 acres and Missouri comes close at 6.9% at 189 acres. Texas is the least by claiming 5.3% at 145 acres.
Rate of market Growth
The Domestic Usage Report released by the U.S.A Rice Federation reports that the rate of consumption rate is 26 pounds of rice per capita. That rate increased a pound from the previous year. The report is based on the shipments and consumption of United States milled rice from August 2008 to July 2009.
Based on the supplier listing for the...

Other Essays Like Consumer Marketing and Branding Strategies

Corporate Responsibility and Marketing Strategies Essay

1675 words - 7 pages company made a huge turnaround and went from just a computer-making company to the leader of the consumer mobile revolution (Akkad, 2011). When the iTunes store and iPhone came on the scene, consumers were able to use these two products to purchase apps and music instead of buying software to be put on computers. Apple takes pride in their ethical and social responsibility and the environment. Social responsibility is an act in doing something

Differentiate Among Public Purpose Partnerships, Strategic Philanthropy, and Cause-Related Marketing, and Cause Branding

773 words - 4 pages Organizations must scrutinize their philanthropic behaviours and as such need to ensure they manage the types, benefits and rationale. There are different motivations and types for philanthropy ranging from public purpose partnerships, strategic philanthropy, cause-related marketing, and cause branding. Public purpose partnerships are made in an effort to reconcile financial an social goals for an organization. This type of philanthropy

Kudler Fine Foods: Strategies and Tactics in Marketing

746 words - 3 pages its strategies and tactics marketing | |issues for Kudler Fine Foods. . | Marketing is important to all companies and industries and is essential to Kudler Fine Foods. Marketing is a multiple faceted issue for Kudler in it reflects the value delivered to customers and managing customer relations in a way that is beneficial to the

Marketing Strategies of an Organization and Its Effectiveness

660 words - 3 pages RESEARCH PROPOSAL Research Topic: Marketing Strategies of an Organization and Its Effectiveness. Using United Bank for Africa as a Case Study It’s been discovered that every type of organization both small and large need marketing to survive and continue in business into the foreseeable future. Even though marketing may not be the reason why an organization was established but it stands at the core of business activities. Every

Blimpies Vs Subway Who Is More Successful And Has Better Marketing Strategies

2226 words - 9 pages ; GreenYellow & Red S9. Edward Sabino27Brown & YellowGreen, Yellow & Red BS= SubwayB=Blimpie*Preference Subway over Blimpie 6-4Blimpie is not very far behind the success of Subway sandwiches. Each company is internationally known and respected by many people. Perhaps the marketing strategies recently used by Subway were more efficient than the Blimpie strategies. The campaign with Jared who lost all of that weight by eating Subway was

Marketing Communication and Promotion Strategies

1711 words - 7 pages Introduction To Computers Computer - is an electronic device, operating under the control of instruction stored in its own memory, that can accept data, process the data according to specified rules, produce result, and store the result for future use. Data & Information Data- is a collection of unprocessed items, which can include text, numbers, images, audio, and video. Information- conveys meaning and is useful to people. Computer

Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing...

2223 words - 9 pages Introduction Children form a significant consumer group in their own right and, in addition, influence the purchasing choices of their families and friends. They represent a huge market offering significant financial returns to companies. Children are also the adults of the future so building a strong bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children

Introduction to Marketing

1463 words - 6 pages techniques used by Oxfam Marketing techniques used by Oxfam * Growth strategies (Ansoff’s matrix) * Survival strategies (Brand extension) * Branding (image, slogan, positioning) * Relationship marketing (needs/wants/aspirations, buyer behaviour and loyalty) LIMITATIONS AND CONSTRAINTS LIMITATIONS AND CONSTRAINTS

The Importance of Brand Image in the Purchasing Field

1561 words - 7 pages marketing communication strategies permits to build a relationship with consumers that will influence the loyalty they will have towards a brand and also their perceptions and associations. Buyers in stores are responsible for the selection of brands and products that consumers will find on the shelves so they need to choose the ones that will meet their expectations and needs. Taking in consideration branding is then important to achieve store

Global Branding Strategy

5025 words - 21 pages gratification of image of self. The process of giving a name or brand affiliation to a product has developed rapidly this century. Brand marketing grew alongside the consumer society, supported by the surge in consumer durables and the expansion of commercial television. It is easy to see that for the business, branding is the most essential detail to reach the success. It is a way to create a communication between producers and consumers. It takes

Marketing Mix

1523 words - 7 pages over larger geographic demographics. Verizon has access to national and global entities. Branding extends to both services as well as to products and is integral and primary marketing strategy. Consumers may prefer one brand to another, sometimes because of price, name recognition or other factors. Verizon has worked hard to obtain and retain consumer allegiance and preference when consumers are looking for a telecommunication provider. The

Related Papers

Companies And Marketing Strategies Essay

1496 words - 6 pages El Omari Soukaina 03/09/2010 Companies and marketing strategies Companywide Strategic Planning: Defining Marketing’s Role To find the game plan of a company long run survival and growth according to the company’s objectives, situations, opportunities, resources.; we can use the process is called strategic planning. Strategic planning is the process in which we develop and maintain a strategy between the

Consumer Psychology And Marketing Communications Essay

806 words - 4 pages Consumer Psychology and Marketing Communications Article Analysis Colleen B. Hughes PSY/322 February 9, 2015 Donald Crabtree Consumer Psychology and Marketing Communications Article Analysis Consumers are the key to marketing communications for your products and services. Using psychology to understand the consumer behaviors, attitudes, and purchasing patterns. Getting your message to the consumer is done by communication. However

Corporate Responsibilty And Marketing Strategies Essay

2001 words - 9 pages Corporate Responsibility and Marketing Strategies Apple is a multinational corporation whose headquarters is in Cupertino, California. Apple, Inc. was formerly known as Apple Computer, but was changed in 2007. Apple was founded by Steve Jobs, Ronald Wayne, and Steve Wozniak in 1976. Jobs, Wayne, and Wozniak had a vision. Boone & Kurtz (2013) advised that a vision is an overall idea for how to make their business idea a success. Apple vision

Marketing Strategies And Thier Conceptions Essay

722 words - 3 pages marketing message to others, creating the potential for exponential growth in the message’s exposure and influence. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions. Off the Internet, viral marketing has been referred to as “word-of-mouth”, “creating a buzz”, “leveraging the media” and even “network marketing.” It’s a deceptively simple concept: Create a message, send it via e-mail