Marketing for Campbell Soup- myassignmenthelp.com

Question: Discuss about theMarketing for Campbell Soup. Answer: Introduction: Headquartered in Camden of New Jersey, and founded back in the year of 1869, Campbells Soup has come a long way in establishing itself as a recognized American company offering a wide variety of canned soups beverages, snacks and packaged fresh foods (Campbell Soup Company 2017). Campbells Soup is no longer an American company, but has emerged to be a recognized brand operating in more than 120 countries across the globe (Campbell Soup Company 2017). Undoubtedly, much of the companys success is credited to how its managers have successfully have transformed the global leadership team, besides revolutionizing workplace culture as well as making integral strategic investments. However, what has actually rendered the ultimate success to the company is its brand image as developed in the market, visual design, and efficient product development process. Hence, it is important to critically analyze the product branding and product development strategy of the company. Discussion: Product Development in Campbells Soup: Product development is an effective strategy undertaken by companies to attract a defined customer base through the modification of existent products, in terms of content or its presentation. A few years back, the popularity of Campbells products started witnessing as a downturn as more people wished to move from processed cereals and canned goods to more natural, healthy and organic food. This was indeed a challenge to Campbells, and soon the company made an effort to develop its existent products, in an effort to retain its clients by offering greater variety and richness in taste. For making the bun, the company decided to no longer use the traditional old, potato roll anymore, and instead chose to use the pretzel roll, that adds variety in taste (Eastlack and Rao 1989). The company has also added coffee and wine flavor as well as fish sauce flavor to its food that can also add to its variety. The companys decision to sell the same, processed food with a little twist of flavor has helped in retaining clients, who would have chosen the healthy option instead. Product Packaging Strategy in Campbells Soup: Packaging also plays an integral role in developing a product, and attracting new consumer base. In todays world, the companies selling canned food are experiencing a loss of consumers as more and more consumers are becoming health-conscious. Hence, in order to retain the consumers, the company also revised its product packaging strategy. The companys decision to introduce the flavor color coding system helps the consumers tastefully identify the type of soup they wish to purchase, while allowing Campbells to easily broaden the product line. Since the launch of the brand new Onion Soup with Chicken Broth, the company has expanded to include Chicken Noodle, Creamy Chicken, Double Noodle, Vegetable and Regular Onion (Wilkins 2014). By offering a greater choice to the consumers, and adding variety to its packets, the company has managed to attract the attention of greater number of consumers, and remain relevant in a competitive market. 4 Ps of Marketing: Campbells: For any company, in order to achieve profitable customer relationship, it is important to ensure that the price, product, promotion, and place it is launched at, must be aligned with the specific customer needs or expectations. As far as Campbells is concerned, the company is offering comfy food, one can have on the go, while also managing the busy professional life of todays world. Hence, the consumer segment of the company is comprising of the busy millennial, who would not only be attracted to the variety of tasty, proceeded food, but would also opt for the time-consuming way of having food. However, the company is an old and classic one, and hence to appeal to the new customer base, Campbells needed to re-define its product image. Consequently, the company not only needed to add a few new tastes derived from the taste of the food specialty of different nations like Brazil and India, but it also introduced its new clunky cans for sleek, microwaveable pouches that fit Millennials n eed for convenience, portability, and fast preparation (Phillips et al. 2014).The company understood that the Gen Y consumers would not get attracted to the traditional Italian and Japanese ingredients, and hence it rightly decided to introduce new recipes inspired by the Caribbean, Middle East and African nations. Since the company targets millennial, the company no longer requires to stick to a high-price strategy expected to result in product differentiation of the classy brand. The company has developed its brand image as one which goes with the active, on the go lifestyle and thus the price has been kept low, so that the millennial can keep on consuming more and more of the products. Since the target audience of the company comprises of the millennial, the company decided not to promote its products via the traditional digital media tools. It does not advertise on television or radio, and has adopted the online marketing strategy. Campbells new line of soup, namely the Campbells Go, has Facebook as well as Tumblr pages, and also the company partnerships with BuzzFeed and Spotify whereby it hopes that this will convey the personality of the soup and appeal to its target audience. Campbells Brand Strategy: As the demand for fresh foods continue to threaten the market of processed and canned food products, Campbells has started branding its products as more original, fresh and healthier than before. This accounts for the companys efforts to remove the various artificial colors and flavors from its products, its acquisition of organic brands such as Bolthouse Farms and Plum, and its new tagline Made for Real, Real Life. Besides, in its advertisements, the company is also endorsing its products through a gay couple, thereby staying relevant amongst the millennial (Mohrman and Stuerke 2014). Product Life Phase: While discussing about Campbells, it should be noted that the US food industry has already reached its maturity phase, whereby it would b difficult for Campbells to generate substantial profit. Hence, the company should not confine itself to the markets it is already trading in, and rather start exploring the untapped markets in South America, where it can produce more innovative tastes and varieties through strategic alliances and joint ventures (Brownridge 2014). Conclusion: To conclude, it can be stated that Campbells Soup has indeed emerged to be one of the most recognized company in the industry of processed food. Although the company does encounter moderate competition from the substitutes, such as natural and organic food, it has still managed to remain relevant in the market through effective product development strategies. However, it can be recommended that through effective investment in research and development activities as well as by divesting unnecessary product lines, the company can further enhance its profitability in future. Reference List: Brownridge, S.W., 2014. Canning Plum Organics: The Avant-Garde Campbell Soup Company Acquisition and Delaware Public Benefit Corporations Wandering Revlon-Land.Del. J. Corp. L.,39, p.703. Campbell Soup Company. 2017.Home. [online] Available at: https://www.campbellsoupcompany.com/ [Accessed 2 Sep. 2017]. Eastlack Jr, J.O. and Rao, A.G., 1989. Advertising experiments at the campbell soup company.Marketing Science,8(1), pp.57-71. Mohrman, M.B. and Stuerke, P.S., 2014. Shareowners' Equity at Campbell Soup: How can Equity be Negative?.Accounting Education,23(4), pp.386-405. Phillips, B.J., McQuarrie, E.F. and Griffin, W.G., 2014. How visual brand identity shapes consumer response.Psychology Marketing,31(3), pp.225-236. Wilkins, M., 2014. When and why brand names in food and drink?.Adding Value: brands and marketing in food and drink, pp.15-40.