Brand Extension Marketing Plan
KAPLAN UNIVERSITY
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BRAND EXTENSION MARKETING PLAN
Jennifer L. Scott GB 530: Marketing Management
December 4, 2012
Brand Extension Marketing Plan for Snyder’s-Lance Inc.
1. Executive Summary
The following marketing plan forms the basis for the introduction of an innovative new product by Snyder’s-Lance Inc. This analysis allows me to outline the best strategies to follow for the achievement of the company’s strategic goals. “Pretzel Abobodas” will be marketed as a unique flavored pretzel that targets the Hispanic consumer, while striving to reinforce the company’s focus on wanting to penetrate the Hispanic market. The marketing strategies will hopefully enable our company to reach a market size of an estimated 2,000,000 Hispanic Consumers (targeted) with forecasted sales growth prospects of 5% over the next 3 years ($450,000 profits), while satisfying the needs if the unserved market of consumers. Success will be reflected by a sizeable capture of market shares within this market, while strategically positioning the company as a market leader in the salty snacks segments of the industry.
Company Description
Snyder 's-Lance manufactures and markets snack foods throughout the United States and internationally. The Company 's products include pretzels, sandwich crackers, potato chips, cookies, tortilla chips, restaurant style crackers, nuts and other snacks. Snyder 's-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Texas, Florida, Ohio, and Ontario, Canada. Products are sold under the Snyder 's of Hanover, Lance, Krunchers!, Cape Cod, Jays, Grande, Tom 's, EatSmart Naturals, Archway, O-Ke-Doke, Padrinos, and Stella D 'oro brand names along with a number of private label and third party brands. Products are distributed widely through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other
-------------------------------------------------
BRAND EXTENSION MARKETING PLAN
Jennifer L. Scott GB 530: Marketing Management
December 4, 2012
Brand Extension Marketing Plan for Snyder’s-Lance Inc.
1. Executive Summary
The following marketing plan forms the basis for the introduction of an innovative new product by Snyder’s-Lance Inc. This analysis allows me to outline the best strategies to follow for the achievement of the company’s strategic goals. “Pretzel Abobodas” will be marketed as a unique flavored pretzel that targets the Hispanic consumer, while striving to reinforce the company’s focus on wanting to penetrate the Hispanic market. The marketing strategies will hopefully enable our company to reach a market size of an estimated 2,000,000 Hispanic Consumers (targeted) with forecasted sales growth prospects of 5% over the next 3 years ($450,000 profits), while satisfying the needs if the unserved market of consumers. Success will be reflected by a sizeable capture of market shares within this market, while strategically positioning the company as a market leader in the salty snacks segments of the industry.
Company Description
Snyder 's-Lance manufactures and markets snack foods throughout the United States and internationally. The Company 's products include pretzels, sandwich crackers, potato chips, cookies, tortilla chips, restaurant style crackers, nuts and other snacks. Snyder 's-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Texas, Florida, Ohio, and Ontario, Canada. Products are sold under the Snyder 's of Hanover, Lance, Krunchers!, Cape Cod, Jays, Grande, Tom 's, EatSmart Naturals, Archway, O-Ke-Doke, Padrinos, and Stella D 'oro brand names along with a number of private label and third party brands. Products are distributed widely through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other
References: Kahn, B.E. and T.A. Louie, “Effects of Retraction of Price Promotion on Brand Choice Behavior for Variety Seeking and Last-purchase-loyal Consumers,”Journal of Marketing Research, Vol. 27, August, pp. 279-289, 1990. Minor, Micheal, “Comparing the Hispanic and Non-Hispanic Markets: How Different Are They?” Journal of Services Marketing, Vol. 6, No. 2, pp. 29-32 1992. U.S Census Bureau, Census 2000. Retrieved December 4, 2012. Webster, Cynthia, “Attitudes towards Marketing Practices: The Effects of Ethnic Identification,” Journal of Applied Business Research, Vol. 7, No. 2, pp. 107-116, 1991.