In the report, I will talk about The Marketing Mix. This includes the Product itself, Vegemite, the Price, Promotion, and Place.
The marketing mix is the marketing decisions of the business for specific goods and services in a market. The marketing mix includes the four P’s: Product, Price, Promotion and Place. Making smart decisions in these four key areas, will ensure success in the marketing of your product.
The Vegemite brand has been a staple in every Australian’s household pantry for over 90 years now. Vegemite fits the needs of its targeted markets. The original Vegemite recipe contains Vitamin B and is suitable for vegetarians, kosher diets, and is halal certified. This means that Vegemite can be consumed by anyone, regardless is their beliefs and dietary needs. Vegemite has been promoted and recommended by Medical professionals and experts as a nutritious spread, especially for growing bodies and pregnant women. Vegemite has become an Australian icon and its name is widely well-known, not only in Australia and there is no other spread quite like it.
The packaging of Vegemite has changed during it’s 90years of business. Vegemite started out in glass and tin jars with metal lids but has evolved into the big plastic jars with a yellow label design and a big bright yellow screw cap that is easily identifiable. In the 1940’s, Vegemite was sold in reusable plastic beakers that featured famous Disney characters such as Pinocchio, Mickey Mouse and Donald Duck. This targeted the children to want Vegemite because of the familiar faces on the packaging. In the 70’s, government regulations required Vegemite to put the ingredients on the labels on each Vegemite jar. In the 90’s, Vegemite designed a handy little travel tube that allowed for ease when spreading without a knife, and didn’t easily break. The barcodes on each Vegemite jar have allowed for quick sales at the cash...
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