Introduction

The Australian dairy market is made up of a variety of food goods and substitutes. Bega Cheese Ltd. is a market leader in the Australian dairy sector. It offers a wide range of cheeses and health supplements. Bega Cheese focuses on the variety of tastes and texture of cheese, catering to the tastes of people of all ages (Bega Cheese Limited, 2021). This study evaluates a marketing strategy for attaining Bega Cheese’s goals. The report outlines the company’s current competencies and resources. In this study, the current marketing techniques are also discussed. In addition, this report’s last section analyses the new marketing strategy as well as marketing plans for the company to gain new customers and increase sales.

Marketing Objectives of Bega Cheese

Any company’s marketing objectives describe its vision and business goals in terms of realistic timescales and the necessary process structure. In this regard, the objectives of Bega Cheese Ltd.’s corporate are as follows:
• Bega’s business operations consider the business outcomes during the implementation of each business strategy;
• The Bega always give value to its corporate partners and suppliers (Bega Cheese Limited, 2021);
• The Bega always prioritizes customer benefits over own profits;
• The company thrives for the improvement of each business operation;
• Complete each activity on the first attempt (Bega Cheese Limited, 2021);
• Maintain a positive brand image while increasing market share

Align between Corporate Objectives and Marketing Objectives

Every organization’s primary marketing aim is to increase market share. Though Bega Cheese considers the advantages of consumers, suppliers, and distributors, the impact of any marketing action has always been assessed in monetary terms. Through this, the company increases its profits and revenues. A strong network for distribution has also helped the company to align between corporate objectives and marketing objectives. This is because that Bega Cheese’s business operations are dependent on its distribution network (Atradius N.V., 2021). To preserve the sustainability of the business ties between them, collaboration and efficient communication between distributors, suppliers and the firm must be done properly. Another essential marketing goal for a business is to establish and maintain a positive image of their product and organization among their target clients (Atradius N.V., 2021). The loyalty of the customers to its brand is influenced by the brand’s image. Furthermore, the brand image aids in the expansion of the firm into new markets. The maintenance of better customer relationships is also an aim of corporate objectives. In this regard, customer relationship management is very important nowadays (Atradius N.V., 2021). Bega Cheese maintains a stronghold on the Australian dairy sector, having been in operation since 1899. Customers trust the firm as a result. Nonetheless, the firm cherishes its consumers, and marketing communications are always geared toward their advantage.

Opportunities in the Dairy Market of Australia

As per a report, 67% of Australians are overweight or obese in 2017-18 (Australian Institute of Health and Welfare, 2021). After the rising health issues such as early childhood obesity due to the use of junk food, the demand for healthy dairy products has been increased. This is because dairy products give complete nutrition to the users that help them to fit the body as per the requirements. In this context, it can be stated that the company has a long range of healthy dairy products but needs to improve its taste and attractiveness to reduce the adverse impacts of competition on the sales of the company.

New Marketing Strategies for Company

Newly available opportunities cannot be achieved by the company until the new marketing strategy will not be implemented (Hall, 2020). In this regard, below are some new strategies that will help the company to present the products more competitively to get competitive advantages in the target market.

Introducing new product lines

Bega cheese focuses solely on cheese snacking, cheese bars, and bio-nutrients. To get a larger part of the dairy industry, a new product division comprising food goods such as full-grain cheese ice cream, grain-cheese chocolate bars, and similar things might be created to give the new state to the customer with the grains.

New packaging and labeling

The most essential aspect of any product’s marketing in front of its target client is its packaging and labeling (Plimmer, 2016). Bega Cheese’s packaging and labeling haven’t been altered in a long time. In contrast, Bega Cheese’s Australian rivals are always improving the appearance of their product to meet the expectations of their target clients. As a result, clever eye-catching packaging might have a larger impact on the target buyers’ attention.

Introducing New Flavors

Bega cheese offers 23 different types of dairy goods, but new flavors may be introduced to the cheese as well as other dairy products to attract new target customers (Bega Cheese Limited, 2021).

New Advertise Campaign

Bega Cheese’s advertising campaigns are used to emphasize the goods’ delicious factor. These advertisements are based on the idea that communicating the flavor of a food product may pique the curiosity of potential buyers. Bega Cheese may take advantage of a new marketing strategy by sponsoring an internal employee because this campaign will reflect the social concerns of the organization towards the society member.

Justification of New marketing strategies

The stated marketing strategies are essential for Bega Cheese since the company’s skills and aims are incompatible.
• Bega Cheese may benefit from the first method since it mitigates the vulnerability of a lack of product variety. The Bega will benefit from the plan by attracting the attention of more Australians. According to numerous studies, people’s tastes and preferences fluctuate at different times, necessitating product diversity, particularly in the food industry.
• The strategy related to labeling and packaging is the main tool in attracting customers towards a dairy product.
• The strategy related to flavoring products will boost the market share of the company as well as the penetration rate.
• The new campaign strategy will help the company increases brand awareness and acquiring more customers.

Risk and Return

Every decision related to a marketing campaign brings some risks but also gives some returns to the organization (Plimmer, 2016). In regard of the marketing campaign, the following are the possible risks and returns to the organization.

Schedule for Marketing Campaign

Strategy for Monitoring Performance

The achievement of the available strategies cannot be possible for the companies until the management will not monitors the performance (Plimmer, 2016). In this regard, the following table will be useful for the management of the company to ensure the implementation of each marketing strategy successfully.

Total Cost of New Campaign

Conclusion

As per the above discussion, it concluded that an advertisement campaign under marketing strategy goes through several stages. The steps of Bega Cheese’s in the concern of marketing ad campaign were addressed in the report. The audit discovered several discrepancies between the company’s performance and its goals. The approach is adequate for closing such gaps and gaining a larger market share as well as more consumers. A marketing campaign with the help of celebrity endorsement will improve the image of the company in the eyes of the target market and increase sales. The research examines different aspects of Bega Cheese as well as prospects in the Australian dairy market. The research also covers three other initiatives that have the potential to affect Bega’s present market position in Australia as well as in the future.

References

Atradius N.V. (2021). Case study – Bega Cheese Ltd: Case study – Bega Cheese Ltd. Retrieved from https://group.atradius.com/products/case-studies/belga-cheese-credit-insurance-for-the-dairy-industry.html
Australian Institute of Health and Welfare (2021). How common is overweight and obesity? Retrieved from https://www.aihw.gov.au/reports/australias-health/overweight-and-obesity
Bega Cheese Limited. (2021). Bionutrients. Retrieved from https://www.begacheese.com.au/products/bionutrients/
Bega Cheese Limited. (2021). Happi. Retrieved from https://www.begacheese.com.au/product/happi/
Hall, S. (2020). B2B Digital Marketing Strategy: How to Use New Frameworks and Models to Achieve Growth. Kogan Page Publishers.
Plimmer, J. (2016). Brand Protection, Security Labeling and Packaging: Technologies and Strategies for Optimum Product Protection. Tarsus Exhibitions & Publishing Limited.