Slim Fast Case
Identification of The Problem
* How can Slim Fast keep dieters satisfied in the current competitive health conscious environment?
* Company emphasis is away from evolving market trends
* Formation of competitor analysis teams to develop tactics of overcoming barriers for entry. * Tactical pricing strategies and crisis response that adapts to rapid change in industry * Response to security protocols for sales volume
Strategic issues as of 2003 * Increased competition from rivals * Kellogg * Kellogg’s ability to promote its preferred diet plan and a healthy lifestyle * Replacing two meals a day with Special K cereals or bars * Increased competition from low carb diets * Atkins and South Beach diet * Increased consumption of meal replacement products * 27% increase in this category * Needs to address consumer needs and wants * Despite consumer pleas on Slim Fast’s message boards they refuse to change * Technologically behind the times * Lacks Smartphone app capabilities * Negative publicity due to Consumer Reports Magazine * Survey showed that Slim Fast was last in overall satisfaction among do it yourself diet plans
Strategic issues as of 2013 * Consumers desire for natural and minimally processed foods with fewer ingredients. * Increase in commercial weight loss programs such as Jenny Craig and Weight Watchers. * Top three sources for nutrition advice will come from social media sites, Smartphone apps, and dieticians. * Rise in foodie population. * Foodies typically are passionate about food, eat out often, try new products, read articles about food, visit different bars and restaurant, watch food related programming, and are concerned with food authenticity and health.Slim Fast’s repositioning with the “Get What You Really Want” advertisement campaign to target women dieters.
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