Table of Contents
1. Executive Summary 4
2. Introduction 5
3. Relevant Environments 5
4. Competitive Situation Analysis 7
5. SWOT Analysis 8
6. Position on the GE (General Electric) Grid 9
7. Market Research Needs 10
8. Consumer Behaviour Issues Relevant To The Purchase And Consumption Of Product 12 9. Target Segments and Core Benefits 14
10. Positioning Strategy 16
11. Product and Branding Strategy 18
12. Pricing Strategy 20
13. Distribution Strategy 21
14. Promotion Strategy 22
15. Customer service and relationship activities 24
16. Implementation Issues 25
17. Conclusion 29
18. Bibliography 30
A. Interest rate table
B. Petrol and crude oil prices
C. Malow’s hierarchy of needs
D. Porter’s 5 forces model
E. Competitive situation analysis
F. SWOT analysis
G. GE (General Electric) Grid
I. Perception map
J. Advertisement focuses on young mother
K. Advertisement focuses on middle-age couple
L. Lite n’ Easy logo
M. Top and tail advertising
1. Executive Summary
The audit is a comprehensive analyse of the marketing strategy of Lite n’ Easy. The purpose of this report is to provide clarity on the successful marketing strategies of Lite n’ Easy and also assess the aspects in which their marketing strategy is deficient. The market strategy itself is a focus on product, place, promotion and price. Other aspects such as market research, segmentation of the market, analysing of buyers’ behaviour, and the market trends have been analysed through market environment, competitor and company analysis. From these assessments, detailed recommendations have been made as a means to improving Lite n’ Easy’s overall market strategy. Included in this report are explanations as to why a broader advertising campaign would increase product recognition and why further market research would assist Lite n’ Easy to better aim its focus in its target market. The implementation of these and other recommendations are further detailed in the audit.
Lite n’ Easy is a 100% Australian owned weight-loss company that prides itself with the high quality of convenient services. Graham Mitchell, the founder of Lite n’ Easy set out overseas in 1986 to try and develop a weight loss program. His vision was to make weight loss fun and easy due to his own disappointments in fad diets and mediocre tasting food. Graham Mitchell worked with dieticians and experienced chefs in creating a weight loss program that gave the right amount of nutrients, whilst endorsing long term weight loss. This scientific method has been the reason why many people have been coming back. The food on their menu is cooked by professional chefs and delivered straight to the homes of their customers. The company, now 15 years since its first operation now deliver to thousands of customers.
The purpose of this report is to analyse the marketing strengths and weaknesses of Lite n’ Easy and proposing recommendations. This will be done by firstly, investigating relevant aspects of Lite n’ Easy’s task and external environments. Secondly, the target market and consumer behaviour aspects are highlighted, followed by the examination of the marketing mix. Thirdly, the customer service and relationship activities of Lite n’ Easy are explored. Finally, the implementation processes for the recommendations discussed in each section of this audit will be comprehensively detailed.
It is important to recognize the limitations of this audit. In cases where limited information is available, logical assumptions have been made and many recommendations have been made upon these assumptions.
3. Relevant Environments
3.1 Direct Marketing Environment
Analysis of the direct marketing environment necessitates an understanding of consumer market to identify growth opportunities from various surroundings in the environments (Quester, McGuiggan, Perreault, McCarthy, 2007).