Reference no: EM13220886
Management of Campbell's Soup Company is asking you for a marketing plan to launch a new product, but first some background. According to Campbell's, Soup lovers across America consume more than 10 billion bowls of soup each year- and, by a wide margin, their favorite soups are Campbell's condensed soups in the familiar red and white can. Our three most popular varieties are Chicken Noodle, Tomato and Cream of Mushroom, which are among the top 10 food items sold in grocery stores every week.
Campbell is also known for its popular, ready-to-serve varieties. Campbell's Chunky soup offers a nutritious way to satisfy hearty appetites. Campbell's-Select Harvest-soup features high-quality ingredients, proprietary stocks, no artificial flavors, and no MSG.
Other soup offerings include Campbell's-soup in microwavable bowls and Campbell's
Soup on the Go microwavable cups, good for eating at work and on the go. Our Campbell's-Slow Kettle- Style soups feature an extraordinary taste with a perfect combination of authentic ingredients you'll want to slow down for.
In 2012, the company had revenue of $7.7 billion and today offers products in a wide variety of
categories, including:
- Pace Southwestern style sauces
- Prego pasta sauce
- Swanson frozen foods
- V8 juices, and
- Pepperidge Farm breads and other baked goods.
It also has other brands for international markets.
Campbel's management has decided to diversify into a new product category, bottled salad dressings. The company believes that it can leverage its relationships with suppliers and supermarket chains to make this new product a success. It has decided to start with the most popular flavor in the USA, ranch,2 which is thick and creamy.
Campbell's has no idea about how to introduce this new product. That is where you come in. The company sees a big opportunity to increase revenue by entering a growing market, because of the relationships mentioned above, their food-marketing prowess and financial resources. They may have other pertinent strengths as well. Based on this information and what else you may know about Campbell's Soup Company, answer the questions beginning on the following page to start a promising marketing plan to introduce ranch dressing.
1. Identify two or three (no more!) strengths of Campbell's which will help the company succeed with the new ranch dressing.
2. Select one target market for the new ranch dressing, and answer the following about it:
a. What distinguishes those buyers from other customers?
b. How would you further describe them?
3. Describe the important aspects of the consumer behavior of your target market regarding the new ranch dressing. Use the following page if necessary.
4. Justify your answers to question.
5. Recommend how Campbell's should position the new ranch dressing
6. Justify your answer to the previous question.
7. Recommend four (no more!) product decisions for the new ranch dressing.
8. Justify your answers to the previous question.