Gabriel Valadez Jr.
The purpose of this report is to analyze the four components of the marketing mix of the Goya Foods. It will also show their product, pricing, placement and promotion marketing strategy.
Goya Foods is one of the largest Hispanic food companies owned in the United States. Goya started in the lower Manhattan, New York catering to Hispanic families Spanish foods such as olives, olive oil and sardines (Goya, 2012). Goya also has distribution centers throughout the United States, Puerto Rico, Dominican Republic and Spain.These are top of the line manufacturing facilities also in 2005 they added 400 extra products so now they count with over 1500 different products for their customers. In 1963 Don Prudencio Unanue and his wife Carolina which are from Spain started this company not only to capture the American dream but to also make a better life for their family (Goya,2012). This is a global company and targets everyone who loves the great taste of a good whole some Hispanic meal. From beverages to low sodium products there is a wide variety of choices for the customer to buy.
Product usage: A Goya manager once said, “In Latin America we are united by the language and separated by the bean” (lucas, 2009). Implying that customers can be effectively segmented by what they buy. Segmenting via purchase behavior, however, presents an incomplete picture and produces a segmentation solution that is not stable over time. Think about segmenting customers in the cell phone category based on what product they currently use. This segmentation solution would change every six months and thus hinder the creation of strategies that work over time. Marketers need to understand the motivation for why customers choose the model they do.
“We’ve built our company on maximizing our sales by neighborhood, and that approach has worked very well since 1936,”...