Branding Makes Its Mark
Marketing Assessment 1 – Macro assignment
BRANDING MAKES ITS MARK
Executive Summary
Beef are now promoted with provenance. Meat shops and restaurants have the age, diet and marble score of the meat to be spelt out for the buyer. Take for an example, you can get a grass-fed King Island prime rib or a Riverine T-bone at a steak restaurant. About 20-25% of the beef in Australia are branded. Branding the meat maintain a competitive edge in the marketplace and consistency to the customers. Hence, Quality control plays an important factor. People nowadays care what they are eating specifically and where the beef comes from.
Background Check
The Coorong Angus Beef is a branded product originated from South Australia. The cows are raised on the coastal sand plain at Meningie, without hormones, steroids or non therapeutic antibiotics. It is the winner of 2 gold medals in the past 4 years at Sydney Royal Fine Food Show. Another example is the Cape Grim beef, produced on the green pastures of Cape Grim, Tasmania's northwestern point. It produces hormone free grass fed Angus and is served in many of Australia’s best restaurants.
The Macro Environment
Branding is vital in today’s competitive environment. It takes a lot more than a good product to ensure customer loyalty. Branding develop customer loyalty, hence creating a more inelastic demand as customers will consistently prefer that one brand over all others. It helps the customer to quickly identify the product and makes the product unique from the competition. Brands give the company something to advertise and something to talk about. Word of mouth is an important area of marketing, which is the passing of information from person to person that includes personal recommendation of the brand. Consumers today associate with a product or service through their connection with a company's brand. It gives the company advantage to increase the selling price and repetitive sales, hence increasing the revenue. Branding
BRANDING MAKES ITS MARK
Executive Summary
Beef are now promoted with provenance. Meat shops and restaurants have the age, diet and marble score of the meat to be spelt out for the buyer. Take for an example, you can get a grass-fed King Island prime rib or a Riverine T-bone at a steak restaurant. About 20-25% of the beef in Australia are branded. Branding the meat maintain a competitive edge in the marketplace and consistency to the customers. Hence, Quality control plays an important factor. People nowadays care what they are eating specifically and where the beef comes from.
Background Check
The Coorong Angus Beef is a branded product originated from South Australia. The cows are raised on the coastal sand plain at Meningie, without hormones, steroids or non therapeutic antibiotics. It is the winner of 2 gold medals in the past 4 years at Sydney Royal Fine Food Show. Another example is the Cape Grim beef, produced on the green pastures of Cape Grim, Tasmania's northwestern point. It produces hormone free grass fed Angus and is served in many of Australia’s best restaurants.
The Macro Environment
Branding is vital in today’s competitive environment. It takes a lot more than a good product to ensure customer loyalty. Branding develop customer loyalty, hence creating a more inelastic demand as customers will consistently prefer that one brand over all others. It helps the customer to quickly identify the product and makes the product unique from the competition. Brands give the company something to advertise and something to talk about. Word of mouth is an important area of marketing, which is the passing of information from person to person that includes personal recommendation of the brand. Consumers today associate with a product or service through their connection with a company's brand. It gives the company advantage to increase the selling price and repetitive sales, hence increasing the revenue. Branding