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Chobani Continues With Market Penetration After Recent Product Expansion

What new products could come from yogurt?

Chobani has recently expanded their product lines into the oat milk, creamer, and coffee industries. Now, Chobani states they want to continue working on their packaging formats, new flavors, and any additional usage occasions. The company states they don’t want to expand into too many new product categories right away, but want to focus on a few at a time. Even though Chobani controls more than a fifth of the yogurt market, the company wants to continue growing their brand and change their growth strategy. In order to continue to grow their yogurt products and generate new growth for the brand, they’ve decided to use a combination of product expansion and market penetration strategies. 

According to the article, Chobani’s oat milk’s dollar sales was 41%, creamer was 81%, and yogurt rose was 17% for the 52-weeks ending on March 23. Chobani controls 17% of the oat milk market and about 3% of the creamer market already. It seems the new product expansion strategy is working out for the brand.

https://www.fooddive.com/news/chobani-taking-cautious-approach-to-entering-new-categories-as-it-prioritiz/646802/

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Kraft Heinz Releases Vodka Pasta Sauce

How different can a pasta sauce get from its competitors?

Kraft Heinz announced their new partnership with Absolut Vodka on their limited-edition vodka pasta sauce the week of March 24, 2023. Kraft Heinz’s tomato condiment and sauces products have reached the maturing stage of the Product Life Cycle due to the the emergence of new substitutes. In order to give their products a new life and generate new growth for the brand, they’ve decided to dip further into the pasta sauce industry with their new vodka pasta sauce innovation. The brand has decided to use a product expansion strategy to generate growth with their taste Elevation platform. 

Partnering with the loved Absolut Vodka brand, Kraft Heinz is able to market to more consumers and create a new product line that is different from its competitors. The marketing is expected to mirror Absolut Vodka’s iconic 80′s advertising with a simple bottle silhouette for their product. This brings nostalgia and fun to the product line. 

https://www.marketingdive.com/news/heinz-absolut-vodka-tomato-pasta-sauce-cpg-marketing/645862/

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Kraft Heinz Launches New Spicy Ketchup

How do you make new products from such a classic recipe?

Kraft Heinz announced April 4, 2023 their new product line adding different peppers to their classic ketchup sauces. Kraft Heinz developed a product line with three levels of spicy ketchup including medium, hot spice, and extra hot spice. 

With the emergence of new substitutes in the condiment and ketchup markets, it is clear the brand’s classic ketchups are in the maturing stage of the Product Life Cycle. In order to generate more growth for the company, they need to change their strategy. The brand decided to use the product expansion strategy. The company has centered their growth strategy around new innovations. According to the article, Kraft Heinz plans on delivering 80% more innovations between 2022 and 2023. As a top selling brand with over $1 billion in sales each year, the company believes their new product line will change the hot sauce industry. 

https://www.fooddive.com/news/kraft-heinz-spicy-ketchup-hot-57-sauce/646585/

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Ugg Boots are Back!

The last time I put on my Ugg boots, I was in Middle School. I was 14 years old. Now, almost 7 years later, I’ve pulled them out from the back of my closet. Celebrities like Selena Gomez, Jennifer Lopez, Gigi Hadid, etc. are all bringing the boots back and they are trending on social media.

Ugg has recently paired with a number of other designers and brands to stay relevant. A-list models and famous designer brands have supported Ugg and have single handedly brought back Ugg’s current most popular shoe right now: The Classic Ultra Mini Boot.

This shoe sells at around $150 and is a popular holiday wish list item this year. People are taking these boots out of their closet, cutting old Ugg boots, and buying them like crazy.

Whether or not this trend will last, I’m not sure, but I do know that these boots always come back. Ugg has made quite a name for itself and has become a classic, higher-end, comfy brand since its founding. They will always come back in style, so don’t get rid of those boots just yet!

https://graziadaily.co.uk/fashion/trends/ugg-boots-return/

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Black Friday - What to Expect This Year

With the rise in Covid-19 vaccination rates and the drop in cases, many people are feeling more comfortable returning to pre-pandemic holiday traditions. The large shift in online shopping we saw last Christmas is likely to not change, but many people are ready to go back to in-store shopping.

Malls are expecting a large turnout this Black Friday. According to an article by CNBC, it is estimated that nearly 2 million more people will shop Thanksgiving Day through Cyber Monday. It was also stated that 64% of people said they were expecting to shop in-person on black Friday compared to 51% last year.

https://www.cnbc.com/2021/11/21/holiday-shopping-2021-4-ways-shoppers-have-changed-since-the-pandemic-began.html

Due to recent supply chain issues, however, selection of gifts could be very limited this year. This could lead to the rise of more experience-centered gifts instead. Gift cards to fancy restaurants, spa days, concert tickets, plane tickets, etc. seem to be the best bet this year. People want to catch up on the experiences they have missed pre-quarantine and are craving the human interaction they’ve missed out on during quarantine.

The Covid-19 vaccine has given people the ability to finally see friends and family and leave the house. Although this holiday season is still not 100% back to normal, we are finally starting to see that shift back to normalcy we’ve been waiting for.

https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/us-holiday-shopping-2021-strong-demand-meets-big-challenges?cid=soc-web

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How Letting Student Athletes Promote Brands Has Changed The Business

As of June 30, 2021, all NCAA athletes were officially allowed to make money off of their name, image, and likeness (NIL) and profit from endorsement deals. This has given many athletes the chance to make money off of their athletic accomplishments and many brands the chance to use them in their marketing strategies. Small companies like Liquid IV, local sportswear companies, local gyms, etc. have all taken advantage of the new rule and brought in many student athletes to support their brands.

Many athletes have already signed endorsement deals, but many are hesitant. Everything is still pretty new and not much awareness and knowledge of safe business contracting has been talked about enough. Online platforms like Dreamfield and INFLCR are trying to change this. They work as platforms that pair student athletes with safe endorsement deals. This new market of endorsement pairing for student athletes is likely to boom. These new platforms and opportunities for athletes to sponsor brands is about to change retail marketing for the better.

With a large shift in social media-centered retail marketing, this new NCAA rule is likely to impact its growth even more. Personal marketing on social media has become an important way for athletes to get their names out there. With an already large following, many student athletes are set up to reach a wide variety of people with brand marketing and could be great assets to companies.

Generation Z has been a very important and influential generation in the retailing world. Brands are scrambling to figure out how to appeal to them. Influencers and professional athletes have become so important when it comes to brand marketing for this generation; why can’t their favorite college athletes help too?

https://www.insider.com/business-is-open-for-nil-agencies-2021-7