Campbell’s Soup is one of the largest American food companies that dynamically manage its marketing tactics. The in depth analysis of its marketing mix reveals that it is following similar strategies to capture market share and consolidate its position in a market that is becoming fiercely competitive with every passing day. This paper sheds light on this and contains a brief SWOT Analysis.
The company is also focusing on three extended Ps of marketing unlike many small players in the market that only focus on first four Ps. Another giant in food industry Whole Foods Market has its core focus on first four Ps (“Whole Foods Market, America’s Healthiest Grocery Store,” 2017). The company has deployed specially trained staff in its store, and it is a common observation of customers that their people provide quality client services, it is in line with marketing plan of it (“Campbell’s Soup Home,” 2017). They have added new products recently, and the prices are not too high, they may be in better position to keep it further lower until they capture some more market share. They are using promotion channels according to specific needs of the particular product. It helps them to have a better place in term of positioning that is how the customer views a particular product.
The strengths of the company include its wide network, strong financial position, and quality HR. The weaknesses include the higher cost of new products, disruptions in supply chain and slower place of innovative product launches. The opportunities include expansion in unserved cities and towns, shifting of back offices to Asia to cut costs and take over weak players in the market. The threat is from a competitor like Whole Foods Market, from strict food regulation and growing concern on high-fat foods.
Works Cited Whole Foods Market | America’s Healthiest Grocery Store. (2017). Wholefoodsmarket.com. Retrieved 13 September 2017, from https://www.wholefoodsmarket.com/ Campbell’s® Soup Home. (2017). Campbell’s Soup. Retrieved 13 September 2017, from https://www.campbells.com/campbell-soup/