Marketing Mix

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University of the Fraser Valley *

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1199

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Marketing

Date

Feb 20, 2024

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docx

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2

Uploaded by mytidima

The 3 C’s of Booster Juice: Convenience: Booster Juice seeks to bridge the gap between healthy and fast food. The forefront of this goal is dependent on quick and convenient ways to obtain the food or drinks. Booster juice targets high traffic areas with its locations such as malls or airports in order to achieve maximum efficiency of convenience as well as online ordering applications. Consistency: In order to have a cohesive and remove all inconsistencies in service maintaining a strong consistency is important. The way they do this is by having a very specific layout, using the same fresh ingredients and following established and standardized recipes. This ensures customers get the same experience no matter what store they visit. Customization: While being a fast food on paper Booster Juice takes the extra step in allowing orders to be customized. This greatly increase the range of their products and enables customers to tailor their order to a specific preference. The options include different fruits, vegetables, and even supplements to create a smoothie or juice that is personal. Booster Juice is a chain of smoothie and juice bars. They operate in the food and beverage industry and can be classified as a fast-food restaurant. Booster Juice falls under the growth stage of the product life cycle. They have been expanding rapidly in recent years, developing both domestically and internationally. As of 2021 they have over 400 locations spanning 15 different countries as they continue to grow at a steady pace. The smoothie and juice market are competitive, and Booster Juice does lag behind competitors such as Smoothie King. The strategies Booster Juice focuses on is creating a custom health focused image. This can be seen in it’s use of images, they brightly portray their fresh fruits and their logo as well as store colors are bright and vibrant making it very recognisable. The customization option allows customers to create a personalized smoothie. They also make sure to use social media and influencer marketing where they have a strong presence on platforms such as Instagram and Twitter. They share their visually appealing images and videos and engage with their followers in effort to reach a younger client demographic and expanding their reach. Booster Juice’s pricing strategy revolves around their offer of high-quality products. This means they take on a value-based approach. When a product is marketing as healthier or high quality the perceived value of the product goes up. This perception paired with competitor pricing determines their prices and strategy.
A specific product that is sold is called “Classic Mango Hurricane” smoothie. Priced at 5.29 CAD for snack size. Assuming this product follows the overall price strategy of Booster Juice some assumptions can be made about how the company decided the selling price for the product. Demand: The pricing strategy would have to take demand into consideration. Since this smoothie is a popular menu item its demand would be high. This in therefore would affect Booster Juice setting the price when they consider demand. Costs: Every pricing strategy must include cost of production. These costs might include ingredients, labour or overhead. This smoothie is made with mango, banana, orange juice, and vanilla frozen yogurt, we can deduce that relative cost of production is low. But when you factor in store rent, salaries, marketing expenses could be a factor in price. Objectives: This is where perceived value is aligned with pricing strategy. The high-quality products that are perceived to be good value for price. This makes the price of the Classic Mango Hurricane to be competitive but still provide margins that are needed for the company to profit. In summary, the selling price of the Classic Mango Hurricane smoothie is likely set based on demand, costs, and objectives. By using the value-based pricing approach and factoring all these elements, Booster Juice can offer a product that is perceived to be high quality and good value for the price, while still being competitive, fast and convenient.
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