A.1 Steak Sauce Defense

1853 Words8 Pages
Situation Analysis Customers: Our customers are those who like to cook or grill meat outside. Competitors: Our primary competitor is Heinz 57. They have a market share of 16%. The secondary competitors of our business are private labels. They have a market share of 14%. The rest of the competitors towards our company make up the 16% of the market share. A new rising competitor is Lawry’s with new product, steak sauce. Collaborators: Our collaborators consist of virtually every grocery store, merchandiser, and club store. They all carry our product which is mostly located in the condiment isle. Company: A.1 steak sauce started in England in the 1830s by Henderson William Brand, the chef King George. He was so delighted with the…show more content…
This strategy does not have any impact on locking-in retailers. Also, this could be easily duplicated by another competitor for the second major holiday, which is 4th of July. For example, another competitor would copy the idea of using coupons to sell their product and use it for the upcoming holiday. Contest/ Prize: The second strategy will be to create a contest or prize with our product. The idea of this strategy will be if the customer purchases our A.1 steak sauce; there will be a code under the cap. When they are at their homes, they can go on to our website and type in the promotional code. The prizes would range from winning a free bottle of A.1 steak sauce to winning $100. The positive outcome with this strategy is that it would create excitement with customers to buy our product compared to the competitors. It would create awareness about our product to our customers and possibly new customers. By implementing this strategy, it could strengthen our market share. The negative outcome with this strategy would be that it may not lock-in retailers. More research and negotiation with retailers will be needed. Another negative affect would be that this strategy would be costly. We would have to see if we are financially stable to invest. More shelf and trade promotion: The third strategy would be to spend more money on shelf
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