Market Plan for YoGreek Yogurt
Company Purpose: YoGreek yogurt was established to provide a quality family friendly product, while at the same time promoting an active and healthy lifestyle through the use of all natural ingredients. YoGreek yogurt will establish a reputation as an innovative leader in the produce industry.
The Need: In today’s fast moving, yet increasingly health conscious society, the need for a healthy and convenient product without sacrificing taste is becoming greater than ever.
Mission: YoGreek yogurt was developed to satisfy this need in the best possible way. The product targets individuals and families working towards living a healthy lifestyle. This is especially towards mothers and expecting mothers with small children that are constantly on the go in need of a healthy alternative. YoGreek provides its customers with a thick and creamy, nutritious experience without additives. The added crunch compliments the creamy texture of the yogurt and gives it a nearly unlimited combination of flavors by changing either the crunch or the yogurt flavor. It also has twice the amount of protein compared to the leading yogurt.
Market Potential: In the U.S., the greek yogurt market has an estimated $ 30 million annual sales. The annual U.S. yogurt consumption, not the greek yogurt consumption, is 11-1/2 pounds per capita. In ounces it is 176, and the most common yogurt serving is 6 ounces. This shows that the amount purchased per capita annually is 29.33, which shows that the frequency of purchase is one yogurt every 12.14 days. This is relative to the annual sales for the yogurt market, so the amount purchased per capita of greek yogurt is 1,16 ounces annually.
| Indirect Competition
Yoplait Greek Yogurt
Greek Gods Yogurt
| Nancy’s organic, non-fat yogurt
Oikos Greek Yogurt
| Mountain High Yogurt
Chobani Greek Yogurt
| Nature Valley Yogurt Bars
Trader Joe’s Greek Yogurt
| Starbucks Strawberry and Blueberry Yogurt Parfait
| Brown Cow
| Stoneyfield yogurt
| Kellog Nutri Grain Yogurt Bars
Expected Penetration: YoGreek expects to penetrate the market by taking 0.6% of the market potential in one year. During the second year YoGreek would expand and penetrate %1.2 of the market. YoGreek would then sell approximately 955,000 units the first year and 1,910,000 the second year.
Marketing Strategies: In order to achieve the expected penetration, YoGreek will employ the following strategies:
Corporate Image: Sun Valley Dairy will create and maintain a healthy and innovative corporate image by creating a variety of health conscious products that are unique to the market. They will create a slogan and use it continuously to further this as a corporate identity tool and create a memorable position in the consumers mind. Press releases will be sent to the media when Sun Valley Dairy launches a new product in order to create positive publicity. If rumors or problems were to arise during the introduction and further sale, the rumor and fact procedure will be employed. Whatever negatives that may arise with the company publics; Sun Valley Dairy will take this opportunity and go to lengths to turn these into positives to create a stronger and lasting relationship. Research shows that if this is done, 94% will come back and keep buying according to the Marriott Studies.
Positioning: YoGreek is currently on level one positioning. The corporate image should be separated because it is not well known and as it is now, will most likely help boost sales. This may change over time if work is put into making Sun Valley Dairy a well-known and respectable corporate image, but for now, the separation strategy will be used. Voskos could on the other hand be used, for instance by saying: “From the makers of Voskos” etc. YoGreek will continue with their name, logo and slogan in order to not confuse...
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