Answer to Question #318230 in Management for nick

Question

Britannia Marie Gold is facing severe competition in the markets where they were leaders. Due to entry of new players, the company has witnessed a decline in sales. The Marketing head has called for meeting along with the Brand Management team to discuss the way out to face the increasing competition. a. What Line extension strategies would you suggest to counter the competition? Justify your answer. (5 Marks) b. Suggest an appropriate promotion mix for Britannia Marie Gold. 

Answer 1

Answer.

a) The strategies that I'll use in countering the competition together with their explanations include :

- Finding a place in the market through specialization and story telling.

-Identifying and solving the customers issues and their point of views.

- Changing the business in a way that it stays ahead of the competition.

- Ensuring the customer service provided is nice and great together with setting prices that are competitive enough.

b) The most appropriate mix for Brita nnia Gold mix include the following :

 The portfolio of brands includes Tiger, Good Day, Marie Gold, and 50:50. It became the first company in the East to use imported gas ovens, and as a business, flourished and began to acquire its reputation for quality and value. Their main products include bread, biscuits, cakes, rusk, and dairy products. They have continued to release a steady flow of products over the years, for example, fruit bread, or the dairy product Half/Half. 90% of their revenue, however, comes from biscuit manufacturing.