12 May WHAT MARKETING APPROACHES MIGHT BE EMPLOYED BY PATAK’S WHEN EXAMINING A FUTURE GROWTH STRATEGY?
The new range will help to add value to the existing pastes and sauces market by introducing new users to the category. Many purchasers of the new range are likely to make repeat purchases and to extend their horizons into making other purchases from across the range of other Patak’s products. For many of the targeted customers, making an 89p purchase of a Korma paste will be a low risk meal solution. If the solution proves to be successful they will want to buy again and they will want to try out other new alternatives confident that Patak’s is able to meet their needs.
The product launch will witness distribution throughout major supermarkets, cash and carrys, as well as independent grocers, thereby ensuring its target consumers are reached regardless of income or shopping habits. Promotional activity will encourage the trial of the smaller curry paste packs, emphasising its convenience. PR programmes will communicate the benefits in a variety of trade and consumer press titles and bring to attention a tastings programme. All this activity will be consistently backed up with Patak’s TV advertising campaign.
Conclusion
AC Neilsen’s research has shown that Patak’s is “the most authentic brand of Indian food in the United Kingdom” and the success of the company goes well beyond our own shores. Patak’s is the market leader in over 40 countries worldwide, as shown in the statistics for brand share in selected markets. By effectively building new brands and ideas designed around recognised consumer needs and requirements, Patak’s is able to experience continuous growth based on confidence in its products and a sound marketing philosophy.
Questions
• Patak’s is a company that has been successful through organic growth. Might acquisition be a better approach to adopt now that the company has established itself as the premier company in this market? Justify your answer as to whether or not you agree with this proposition.
• What marketing approaches might be employed by Patak’s when examining a future growth strategy?
• Do you feel that the company has been product led or market led in terms of its successful establishment and growth since the late 1950s?
• Suggest strategies by which Patak’s can expand its business beyond that of being principally linked with curry paste type products.
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