The following paper discusses the role of the different elements of the marketing mix separately and independently and how they have brought about Kraft’s success in present times.
Considering the number of brands and products our supermarkets are flooded with, one must ponder over how all of them manage to get there and sell substantially enough for them to remain there. It’s quite mind-boggling to think about the constant marketing battle marketers have to fight to keep their brand there and at the top. The race to the top is not an easy one and even more difficult than that is keeping that position along with leaving an imprint on your consumers’ minds.
There’s one brand that has managed to do that and quite well. Kraft products are as naturally found in kitchens as it is for a key to fit into its specific lock and why wouldn’t it be considering the number of products it has under its name. Kraft started as off as a sole proprietorship run by James L. Kraft in 1903 when he was a door-to-door cheese salesperson, much perseverance leads it to become Kraft Foods Company as it had expanded its product line by then. Now over a century, later the little door-to-door business started off by James L. Kraft has grown into a huge household name. (Kraft Company, 2009).
One must contemplate though how it got there, clearly, all the hard work was there but there was another factor that needed to be put in motion for that to happen. That would be the marketing factor, which has created the place of Kraft products today in peoples’ minds. The marketing mix had to be crafted and implemented in the right way for it to have achieved these results. The marketing team worked on the four elements of the marketing mix and achieved this.
What is a marketing mix you may ask? The Marketing mix is known popularly as the 4P’s of marketing that defines the products and their positioning in the marketplace. describing the strategic position of a product in the marketplace (Net MBA, 2009). The “four P’s” would be product, price, promotion and place. Each of the four is as important as the other and interrelated to the other.
That was easy enough but we still need to go a little more in-depth to learn what the “four P’s” actually are. The first P, product, is any product or service that is available in the market physical or unphysical which provides the consumer with their needs or desires. The next P on the list is the price, that’s a very crucial decision as the price has to be just right. The price should be one that the consumer will willingly pay for and there should be enough profit coming in at the same time. It would be useless for the product to be on the market if there were no buyers or if all it brought about to the producers was a loss. Promotion consists of four elements that include – word of mouth, advertising, public relations (PR), and point of sale (POS). It is extremely crucial to use these four elements as effectively as possible to build a positive image of the product and brand in the target market’s minds ensuring sales and then loyalty to the product and then moving the loyalty up a notch to the brand. Once the consumers’ loyalty becomes defined, it’s easier to innovate and bring new things into the market as you have already grasped the consumers. Last but not least is the place, this could represent whether the brand is available on the internet or at an old-fashioned brick and mortar store. It can also imply the placement of the brand geographically. Traditionally brands were introduced at the brick and mortar store moving to new geographic locations. It still happens but usually, there comes an online outlet as well and at times there are only just online outlets. That would depend on the brand and products being offered. (Net MBA, 2009).
Kraft took its products and designed them in such a way to fulfill people’s needs as well as wants to keep things such as quality, packaging and durability in mind while designing and creating the products. The pricing probably one of the most important factors that a consumer considers at the time of purchase has been kept nominal so that the products are not overpriced and easily available which too is beneficial for them as it increases sales and profits in turn. Though James Kraft started off in a small town we can see the existence of Kraft all across the globe, all the way from Australia to Spain and the UK to the USA (Largest Brands). The most important factor though of these four elements has been the last one which is promoted as it has helped things escalate and in a humongous way all over the world bringing Kraft the recognition it does today. If not for the marketers’ terrific strategies, Kraft wouldn’t be where it is today. (Hoovers, 2009).
By now it should be clear that it’s not just one thing that makes or breaks a brand, it’s the whole marketing mix that leads up to it but the most important of which probably at the producers’ end is the marketing strategies and the development of the product itself and how to place it in the consumer’s mind.
- Hoovers (2009). Kraft Company Factsheet.
- Kraft Foods (2009). Brands.
- Net MBA (2009). Marketing Mix. Web.