Marketing Principles Assignment Sample
Introduction
Consideration of proper marketing strategies can provide an extended competitive advantage to an organisation by attracting increasing consumer base. The present assignment will pay attention to highlight consumer persona on behalf of expanding the services of Nanosalad in the UK market. The target customers will be defined in this case along with a pictorial representation of the consumer persona.
Target customers
According to the provided scenario, Nanosalad has been looking to enter into the UK market with the provision of organic fruits and vegetables shrunk into small flakes. However, this scenario highlights the consideration of attracting organic food consumers across the UK market. With regards to this concern, the organisational target audience will be the UK consumers who prefer eating healthy and nutrient intake.
Consumer persona and justification
Figure 1: Consumer persona for Nanosalad’s probable target customers in the UK
(Source: Created by the learner)
With regards to the aforementioned pictorial representation of consumer persona, the segmentation approach has been undertaken for justifying the market segment.
Segmentation theory
In accordance with the STP marketing model, segmentation refers to the identification of bases for segmenting a particular market or industry (Mavragani, Nikolaidou & Theodoraki, 2019). Significant characteristics are eventually considered and determined for each respective market segment according to which an organisation might be able to profoundly outline their probable marketing strategies.
In this present context, return focus has been kept upon evaluating the organic food and vegetables market segment throughout the UK for recommending suitable marketing strategy for Nanosalad. The consumers’ profile in this context highlights those UK consumers who usually prefer healthy lifestyle along with organic food and vegetables. The UK market has noticed and recorded extended growth for organic food products in recent times. In accordance with a market report, it has been noticed that the UK organic market is standing at worth £ 2.79 billion after recognising 12.6% growth in sales during the previous year (Minchin, 2021). The report also revealed that the UK organic food and vegetables market had reached its highest growth rate throughout the 15 years (Minchin, 2021). The mentioned statistical facts and current market evidence from the UK organic food and vegetable sector highlights distinct future growth that might be encouraging for Nanosalad to expand its services into the UK market. Moreover, the consumer preferences about organic products in the UK market eventually highlight significant opportunities for Nanosalad to innovate and continuously grow their business by efficiently mitigating consumer demands.
Apart from that, the consumer Persona has also disclosed to prefer the vegan consumers as another respective market segment. This attribute can be supported with the evidence of the UK vegan food market that has been growing steadily over the years. For evidence, the meat substitute market size across the UK has reached up to 502 million Euros (Wunsch, 2021). Around 2.67 % of the entire population in London has been following a vegan diet (Wunsch, 2021). These statistics and real market evidence highlights extended opportunities for Nanosalad in terms of enlarging their financial stability and feasibility by expanding their services in the UK. However, online shopping has been another increasing interest throughout the globe since the emergence of the covid-19 pandemic. Strong growth has been noticed across different industries with extended online purchasing intention of the consumers. For example, it can be stated that the UK consumers highly emphasised online platforms and channels for exploring and purchasing an incredible range of organic options. Around 36.2 % standard growth can be noticed for the organic consumers preferring online purchases (Minchin, 2021).
The growth of organic foods and vegetables through online and home delivery options has been another significant market trend. According to the reports of 2020, the online and home delivery channels across the UK organic food and vegetables had reached close to £ 500 million (Minchin, 2021).
With regards to the aforementioned statistical facts and market scenarios, Nanosalad can be suggested with a set of recommendations that might be supportive of their successful expansion in the UK market. The company will have to look at expanding the consequences of digital marketing strategy for starting their operations in the UK with regards to comply with the current market trends of increasing online shopping (Mavragani, Nikolaidou & Theodoraki, 2019). However, the company must focus on supporting the digital promotional campaigns under the shape of a celebrity endorsement in order to positively influence customer purchasing intention and their attraction. In this case, the consequences of suggested impulse purchase can be recognised from the consumers’ end where increasing online existence along with quality plant based nutrition food products could efficiently enhance the organisational accountability across the respective industry.
On the other hand, Nanosalad is eventually suggested to maintain profound focus upon consumer analytics as an integral part of being familiar with the current market and industrial trends along with consumer purchasing intentions that might change from time to time (Boone et al. 2019). This attribute can highly benefit the organisation with updated strategic interventions, which would be signified with increasing financial feasibility of Nanosalad in the UK market.
However, this segmentation approach could eventually be beneficial for Nanosalad with distinct brand reputation and awareness over the UK consumer market, which might also support their future market expansion in other respective countries and regions.
Conclusion
The overall assignment has focused on highlighting valuable consumer personas related to the UK oriented vegan and organic food consumers. With extended growth of the organic and vegan food market in the UK through online channels, Nanosalad is suggested to consider digital marketing through digital platforms for efficiently complying with the ongoing industrial trends.
References
Boone, T., Ganeshan, R., Jain, A., & Sanders, N. R. (2019). Forecasting sales in the supply chain: Consumer analytics in the big data era. International Journal of Forecasting, 35(1), 170-180. Retrieved on 10 November 2021 from <https://www.sciencedirect.com/science/article/pii/S0169207018301523>
Bozhuk, S., Maslova, T., Kozlova, N., & Krasnostavskaia, N. (2019, March). Transformation of mechanism of sales and services promotion in digital environment. In IOP Conference Series: Materials Science and Engineering (Vol. 497, No. 1, p. 012114). IOP Publishing. Retrieved on 10 November 2021 from <https://iopscience.iop.org/article/10.1088/1757-899X/497/1/012114/pdf>
Mavragani, E., Nikolaidou, P., & Theodoraki, E. (2019). Traveler segmentation through Social Media for intercultural marketing purposes: The case of Halkidiki. Journal of Tourism, Heritage & Services Marketing, 5(1), 15-23. Retrieved on 10 November 2021 from <https://www.ssoar.info/ssoar/bitstream/handle/document/66386/ssoar-jthsm-2019-1-mavragani_et_al-Traveler_segmentation_through_social_media.pdf?sequence=1&isAllowed=y>
Minchin, J., (2021). Organic sector booms in the UK as online sales increase by a third [Online]. Retrieved on 10 November 2021 from <https://www.newfoodmagazine.com/news/137823/uk-organic-market/
Wunsch, N. G., (2021). Veganism and vegetarianism in the United Kingdom – statistics & facts. [Online]. Retrieved on 10 November 2021 from <https://www.statista.com/topics/7297/veganism-in-the-united-kingdom/#dossierKeyfigures>
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