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The Four P’s and Your Learning from the Tio case

This week Austin talked about what he learned from the stories of previous product launches that came from other cultures, such as hummus and Greek yogurt. In preparation for this week’s Discussion, think about the Tio Gazpacho story that you have been following throughout this course and what lessons you have learned from it.

Also, before writing your post this week, review The Four P’s of Marketing document in your Assignment 3 Resources. It defines the Four P’s as: (1) Product or Service, (2) Place, (3) Price, and (4) Promotion. Use the questions in the document to help you define the Four P’s for the product or service in your Business Plan.

For your initial post, answer the following questions:

Briefly describe and define the Four P’s of your Marketing Plan.

1. Product or Service

The product we will be providing is AmeriMite, which is an Americanized version of the popular products known as Vegemite and Marmite. This product, is a vitamin enriched yeast extract spread that provides an umami punch to most foods and is commonly used on toast, gravies, and sauces. The main point of this product is to capture the essence of its widely popular counterparts by tweaking the recipe to appeal to American palettes as similar products have not taken root here in the US.

1. Place

This product will be sold onsite at the brewery, local restaurants weve partnered with, and whole foods grocery stores. Moreover, we will attempt to sell this product on global chain grocery stores based on region after careful analysis.

1. Price

The price of AmeriMite is still undetermined but should be cheaper than the alternatives that are imported into the US. While price will vary on the size of the jar in which you buy, it will be similarly priced to Vegemite and Marmite before customs taxes.

1. Promotion

Ideally this product will be promoted through the use of social media and word of mouth by patrons who attend the brewery or affiliated restaurants. Moreover, partnerships will help build a larger following and increase the reach of our product to a national market. The goal is to have a “cult” following similar to vegemite being the first food people think of when it comes to Australia (1, 4 P’s)

What is the most important lesson that you learned from the Tio case study?

Honestly, this week’s video talking about big name competitors really hit the nail on the head for me regarding my idea for amermite. Similar to Tio, he would likely be competing to the Pepsi Co brand when it comes to gazpacho as I would be competing with Kraft foods who creates vegemite, which is the direct inspiration for my product idea. The parallels between my idea and Tio’s idea are uncanny for many reasons, which include why brands like Kraft and Pepsi Co haven’t launched their products in the US. This is highly important and was noticed in my brand analysis and I jotted it down as one of my big assumptions in previous assignments. There could be plenty of reasons why big brands haven’t decided to launch their cultural products here in America and we may never actually know since most forms of analysis are confidential. Moreover, the reason they haven’t launched the product could very well be they either don’t see the need to launch it or its just not viable product based on tastes here in America. Either way, this leaves me with a sense of doubt in my product idea, that either it wont be well received or if it is, the likes of Kraft of could easily swoop and steal customers with their more identifiable and ubiquitous brand (Tio, 2). That being said, last week we talked about partnerships and I mentioned the importance of getting in with Kraft early to avoid this competition or at least find a way to co-exist since they are a much more powerful brand than heckler could ever be, especially since we are still a small local brewery.

1. 4 Ps of marketing Week 9 Lecture Notes
2. Tio’s Gazapacho case study video week 9