A Strategic Marketing Plan for Nabisco's Belvita Breakfast Biscuits
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This paper presents a strategic marketing plan for Belvita's breakfast biscuits acquiring demand in a new category with an additional opportunity to earn share from competitors. Mondelez is an international snacking powerhouse that has an opportunity to build on the already vast market share they have. The Nabisco snack categories that their brand is built around experience fast growth and generate a lot of revenue every year. With Belvita breakfast biscuits, Mondelez can create another brand name that will add to their wide product portfolio in Nabisco's snacks and cookies. Marketing tactics that are consistent with the core competencies of Mondelez will be implemented to transform Belvita into a strong brand name that is trusted by customers as the product they use for breakfast every morning. The paper begins with a literature review that discusses general marketing strategies for branding, customer loyalty, customer preference, and share acquisition. A strong brand name is created by gaining the loyalty of customers, and by making a product with characteristics that arc specific to customer preference. The studies discussed emphasize the importance of relationship marketing and gaining a competitive advantage by interacting with the customers to create trust. To create a new brand in a new category, customers need to use the product and become satisfied with the experience enough that they continue to use the brand. The literature review is followed by a strategic marketing plan that analyzes specific details of the market, consumer, and competitor with a situational analysis. Macroeconomic and microeconomic environmental factors that relate to the product arc examined and an ideal target audience is created looking at specific variables such as demographics, behaviors, attitudes, and aspirations. A detailed SWOT analysis gives aspects of company that help give direction for marketing strategies and objectives. The marketing strategies implemented are aimed at making customers aware of the dynamic benefits that the brand offers that make it different from competitors. The marketing plan spans one year and should be reevaluated when the year is complete. There are always opportunities for companies to obtain more profitable growth and build market share, regardless of how successful and big they currently are. This paper will show that through careful and driven marketing strategies, a large company can enter in a new category and build market share.