S. And has a significant share globally as well. All of these competitors however have taken the traditional approach to frozen yogurt, offering only a very limited set of flavors, most often the most popular in their other products to save on costs. There is no product development occurring in any of these companies with regard to developing high energy frozen yogurt for customers to impulse purchase and take with them. Impulse purchasing accounts for 14% of total yearly sales in 2008 and is expected to increase in 2009 as companies seek to create greater levels of buyer activity based on price and availability, looking to overcome the perception of ice cream as a luxury (Gloria, 2008). The competitive landscape of frozen yogurt is highly fragmented with regional brands dominating sales only in local markets. There is not a single frozen yogurt brand dominating the U.S. Or global market today which further opens up the opportunity for a well-defined product with a strong distribution program to dominate the market.
Market Concept
Capitalizing on the high level of adoption for 5-Hour Energy and other energy supplements, the Energy Blast yogurt bar will be available in vanilla, french vanilla, chocolate, butter-pecan, strawberry, chocolate chip mint and Neapolitan, which are the top-selling flavors in the industry today (Gloria, 2008). Encased in frozen yogurt, the core of the yogurt bar will be a mixture of Niacin, Vitamin B6, B12, Folic Acid and Sodium, which will provide a high energy level of customers for several hours with no aftereffects as sugar can produce. The packaging will also be brightly colored with images connoting high energy and rapid motion, and also will have positive sayings and phrases on them. The use of social networking will be pervasive in the product concept, with Facebook and Twitter accounts created and entire social networking sites created for people to share their home-made videos of how they would promote the product as well. Companies including Heinz, Microsoft, Proctor & Gamble, and others have successfully used video contests to promote their brands and also generate greater awareness. The Doritos home-made...
The key to a successful market concept is getting the customer as integrated as possible into the product marketing, messaging and identity. Social networking provides this flexibility and potential.
Human Resources
From a staffing standpoint, the new business will have a new product development team comprised of chemical and food engineers, in addition to marketing, advertising, and customer research departments. The entire company will be approximately 20 people, with the new product development team having seven, marketing and advertising having six, and customer research having seven. The team will also manage the development of new flavors through relationships with suppliers and outsourcing partners globally. The organizational structure will be fat, with only two layers of management in the entire company.
Conclusion
The Energy Blast yogurt bar will be marketed to the 18- to 34-year-old sports enthusiasts, students, parents and processionals who have demanding schedules and lifestyles. The focus of the messaging will be on having enough energy to overcome the biggest challenges of each day -- and have a tasty and nutritious snack at the same time. Social networking will anchor marketing.
References
Carlin, Peter. (1995). Will rapid growth stunt corporate do-gooders? Business and Society Review,(93), 36.
Del Rey, J.. (2009, January). A Nice Consistency. Inc., 31(1), 94.
Gloria, L. (2008, September). Ice cream nostalgia sweetens the palate. Retail World, 61(18), 19.
Rodolfo M. Nayga Jr. (1999). Retail health marketing: Evaluating consumers' choice for healthier foods. Health Marketing Quarterly, 16(4), 53-65.
Jon D. Reast. (2005). Brand trust and brand extension acceptance: the relationship. The Journal of Product and Brand Management, 14(1), 4-13.
Shelke, K.. (2009, November). 1. Energy drink sales: anything but tired. Functional Ingredients,(92), 27.
Walker, A.. (2007, December). Berry, Berry Ambitious. Fast Company,(121), 50,52.
