Marketing Plan for
Single Serve Blender
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Table of Contents
1.0 Situational Analysis ……………………………………………………………………………………………… 3
1.1 The Internal Environment ………………………………………………………………………………….. 3
1.2 The Customer Environment ……………………………………………………………………………….. 5
1.3 The External Environment ………………………………………………………………………………………. 7
2.0 SWOT Analysis …………………………………………………………………………………………………… 8
2.1 Strengths …………………………………………………………………………………………………………. 8
2.2 Weaknesses ……………………………………………………………………………………………………… 8
2.3 Opportunities……………………………………………………………………………………………………. 8
2.4 Threats…………………………………………………………………………………………………………….. 8
2.5 Figure 1: The SWOT Matrix………………………………………………………………………………. 9
2.6 Developing Competitive Advantages ……………………………………………………………………. 9
2.7 Developing Strategic Advantages ………………………………………………………………………… 9
3.0 References ………………………………………………………………………………………………………………. 11
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1.0 Situational Analysis
Within the situational analysis, the internal, customer, and external environment will be discussed in-depth, and these factors are fundamental concepts of a situational analysis. These concepts will be assessed intermittently to guarantee that it is current while making recommendations to improve company’s performance.
1.1 The Internal Environment
Review of current marketing goals and objectives
NutriBullet is a well-known retail brand that established a long presence amongst large retailers that sell various kitchen appliances such as single-serve blenders and other products. Its mission is to be the leading innovator of a single-serve blender that will inspire individuals worldwide to prepare and consume nutritional meals with no hassle (NutriBullet, 2020).
In the coming year, NutriBullet seeks to achieve the following goals:
1. Increase the health and wellbeing of consumers
2. Offer convenient on the go products to accommodate fast-paced lifestyles
3. Offer competitively priced products to increase accessibility to a broad demographic of consumers
Nutribullets single-serve blender makes it easy for consumers to increase their intake of whole foods such as fruits and vegetables that are necessary for a balanced, healthy diet. The blades on their blender have patented technology for nutrient extraction to pull more nutrients out of the ingredients added to the blender. The blender is designed to blend a smoothie in under thirty seconds that’s ready to sip, and it is dishwasher safe, so cleaning is also easy and fast. While Nutribullet’s blender is competitively priced, there are many cheaper options on the market that offer a similar product, so pricing is the one goal that needs further evaluation in order to be met.
Review of current marketing strategy and performance
NutriBullet has built its company with no real marketing strategy other than selling through retailers like Target and Walmart. The company itself offers a product named Nutribullet. This product has been in existence for various measure of years and is still in demand. They
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are not limited to just single-served blenders. They also sell food processors and juicers, and accessories. Their products have a patent and a 1-year warranty. Typically, they do obtain an online presence on social networks and maintain it. They also have global presence, for example NutriBullet UK Instagram. To generate more interaction between the consumers and users of this product, they have moved toward sportspeople, models, and celebrities interested in a healthy lifestyle. The pricing of their products varies within different single-serve blender models, but altogether, it is inexpensive compared to competitors. Distribution is significant in marketing, and there are two specific ways that the Nutribullet is reached from the producer. They distribute their products using other big retailers such as Target or Walmart as well as utilizing e-commerce through companies like Amazon or from the warehouse itself. When promoting their single-served blender, they heavily rely on advertising on television through different tv providers and social media platforms like YouTube, Facebook, and Instagram. To ensure that the Nutribullet is everything as stated, the company offers live demonstrations on their website that shows the consumers how to use the blender and different recipes they can make with the blender. This assist consumers that need easy on the go recipes that help them achieve a healthy lifestyle.
NutriBullet remains strong in their current performance. Though they are a private company, they have shown to sustain high performance amongst competitors. This is apparent by their largely sustained presence in mainstream retailers, along with a high volume of targeted advertising campaigns through various media channels, as discussed previously. They are a leading blender service provider compared to competitors. One of their leading initiatives on their website is to encourage their customers to partake in composting which demonstrates their commitment to being an environmentally friendly company. Plans like this underline that this company is committed to being socially responsible. After researching their competitors, it is clear to see that they are utilizing membership programs as a marketing tool. These programs are beneficial because they offer a reliable cash flow.
Since Nutribullet has been on the market for such a long time, they benefit significantly from brand recognition alone. Consumers do not worry about quality when considering purchasing a Nutribullet because the company and its products are so well known and respected. However, with many other companies entering the single-serve blender market in recent
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years, such as Ninja, Cuisinart, Hamilton Beach, and Bella, to name a few, competition has increased, so positioning has become even more vital for profits.
Review of current and anticipated organizational resources
The firm has an ability to effectively turn inputs into outputs and add value to products by utilizing research and development and innovation to diversify its range of products. By having a large variety of products, it is able to keep up with trends and meet new demand, it also makes the firm more capable and better prepared to deal with change. The main customers of the business are retail customers who purchase the blenders from stores across the United States. Strategic partnerships are an effective tool for firms to use for product and customer-oriented businesses, for example NutriBullet have partnered with Affirm, who are a credit company, to allow consumers to finance their purchases over time. This approach makes their products more affordable and accessible, and also underlines the importance of partnerships as a key resource.
Review of current and anticipated cultural and structural issues
Currently, there are very few if any cultural issues surrounding the company. Structural problems, however, may concern the market as a whole given the positive growth rate, around 8.1%, and anticipated continued growth of the market (Grand View Research, 2021). As more firms enter the market, companies are forced to compete more on price, so price lowers and profits decrease. As this continues, firms with higher marginal costs will be forced out of the market. Nutribullet has an advantage here as it has been in the market for a longer time than most other firms. However, Nutribullet will still be faced with the challenge of minimizing costs to remain profitable, especially if they are forced to lower their product price in the coming years.
1.2 The Customer Environment
Who are the firm’s current and potential customers?
NutriBullet’s current customers consist of a variety of people ranging from health-conscious people, working adults with busy schedules, college students, and those looking to introduce healthier options into their diet. Smoothies are a trending health food and are particularly
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popular among younger to middle-aged people. However, NutriBullet prides itself in being an extremely user-friendly product, so that anyone can use it with ease. Given this, a potential customer base that may not have been previously captured includes elderly individuals who may have trouble chewing hard foods or struggle to digest necessary nutrients from the foods they consume. If NutriBullet can market toward this older demographic before competitors by demonstrating the simplicity of their product, they may increase their market share. NutriBullet puts a lot of focus on their customer orientation. As previously mentioned, the company targets specific demographics that they know are interested in their products because they are conscious about their well-being and maintain a healthy lifestyle. They offer a 21 percent student discount to their consumers which appeals to students that have a lower amount of disposable income. Although this can be perceived as a detrimental strategy to their bottom line, they make up for it by gaining and retaining their target market. They are also willing to adapt with the market as trends change, and the company’s ability to do so is demonstrated through the number of new products that suggests a willingness to identify and follow new trends. The primary purpose of using a single-serve blender is to make smoothies or protein shakes. In addition, the blender can also be used to make sauces, dips, and various drinks or snacks. It is also used to prepare baby food that c
Where do customers purchase the firm’s products?
Nutribullet can be purchased at various retailers such as Bed Bath & Beyond, Kohl’s, Macy’s, Home Depot, and online via Amazon or Nutribullet’s website. E-commerce has become one of the major ways of selling their products because of the ease of access it offers and the convivence factors. This also suits the buying habits of their target demographic. Young individuals from 18-30 are more inclined to buy online and use e-commerce as their primary source of shopping. Nutribullet’s ability to adapt to this change, shows that they are able to retain their largest customer base.
When do customers purchase the firm’s products?
Nutribullet is a product that customers do not have to purchase due to the product’s nature repeatedly. People don’t need multiple blenders, so once a customer has purchased one, they use it until it no longer works. Customer loyalty does still come into play when considering that people who are happy with their purchase are more likely to recommend the product to
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others, purchase it as a gift for someone else, and buy another one if something does happen to their Nutribullet.
Why (and how) do customers select the firm’s products?
Compared to alternatives offered by competitors, Nutribullet offers more affordable products while maintaining the same level of quality that the brand is known for. The company has great confidence in the quality of their products that they offer a comprehensive warranty which assures customers that this is the best option for a single-served blender. They utilize word of mouth marketing by creating a product that leaves a striking impression on customers which encourages them to recommend the product. Another factors it that their product is designed for every day consumers compared to competition which is aimed towards professionals. Other competitors such as Vitamix offer items that are costly which does not allow them to sell high volumes when compared to that of NutriBullet which targets the masses at a lower price point. Currently, due to the COVID-19 pandemic, more consumers are using more traditional advertising methods like television and growing techniques like the internet which are both beneficial to the company because that suits their advertising strategy which includes captivating advertisements.
Why do potential customers not purchase the firm’s products?
There are many other options available for those looking to buy a single-serve blender, and there are many products that claim to do the same as Nutribullet but at a lower price. However, some of these cheaper products are known to have a shorter life than Nutribullet. Nutribullet should market their product’s durability and power to ensure customers that are considering competing products that Nutribullet is the better long-term investment to make.
1.3 The External Environment
NutriBullet faces external environment competition with any major companies that also sell single-serve blenders. Some of these companies include, Vitamix and Nutri Ninja. Comparatively, Nutribullet offers more affordable options but is lacking in membership or subscription options which have been identified as lucrative marketing techniques in recent years. In the past, most of the major competitors have NutriBullet has suffered from similar
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situation caused by lawsuits. This proves that this is an issue that the whole industry faces and remains an opportunity for companies to learn from. As technology evolves and money continues to be invested in to research and development, NutriBullet will continue to innovate and add new features to their products or introduce new ideas.
2.0 SWOT Analysis
2.1 Strengths
Strength 1: Nutribullet obtains customer loyalty by ensuring that their products are durable and last for a long time. They live up to the expectations of consumers and this retains customers.
Strength 2: They market to a big audience by attending large conventions which attracts a variety of consumers and can possibly introduce a new audience.
2.2 Weaknesses
Weakness 1: They acquire a heavy reliance on innovation and research and development can lead to stagnation.
Weakness 2: There has been a sudden increase in the number of new entrants in the market over the past couple years and as a result, competition has increased thus driving prices down. This can lead to reduced market share.
2.3 Opportunities
Opportunity 1: Continuing to diversify their product line, while opportunities for expansion still exist enables the company to follow trends and implement new features which are appealing to consumers.
Opportunity 2: Nutribullet has the opportunity to expand into a market that includes individuals that obtain a healthy lifestyle. These people are equipped with the internet and resources which makes this information regularly available.
2.4 Threats
Threat 1: Immerging technology can influence trends and can be disruptive which may cause customers to change their preferences in blenders and move on to other products.
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Threat 2: Blenders are naturally susceptible to legal disruption due to health and safety rules and regulations. This poses as a problem because they have already suffered from legal litigation in the past.
2.5 Figure 1: The SWOT Matrix
Strengths:
• Customer Loyalty
• Marketing to a big audience
Opportunities:
• Developing new features
• Social trends in health and fitness
Weaknesses:
• Saturated product line
• Fluctuations
Threats:
• Customers could change their preferences
• Legal disruption
2.6 Developing Competitive Advantages
As shown in Figure 1, the company benefits from a loyal customer base which they were able to establish as a result of a distinct set of values which derived from them being able to gain and sustain a competitive advantage. Nutribullet benefits from a well-established supply chain and production line, meaning they are able to maintain low costs. This sets them aside from new entrants who are unable to meet the prices which have been driven down to create barriers to entry. The product is fast and effective, designed to look aesthetically pleasing and be cleaned easily after use, which is something that is important to consumers. The ease of use and simplicity, along with the points described above sets the product apart from its competitors and creates competitive advantage.
2.7 Developing Strategic Advantages
In 2021 parents are increasingly conscious about what they feed their children, because of this trend, Nutribullet was able to identify and take advantage of a new opportunity. They diversified their product range to include a specialty blender which caters to the needs of parents who care about what goes into the food they provide for their children. An affordable blender made specifically for the creation of baby food removes the worry of what goes into
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store bought baby food. Parents can select their own ingredients and conveniently produce their own food. These customers will hopefully be impressed by the quality and value of their products, and as a result are more likely to become repeat buyers, which exemplifies the importance of diversity.
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3.0 References
NutriBullet. (2020). NutriBullet. https://www.nutribullet.com/
Portable Blenders Market Size | Industry Report, 2020–2027. (2020). Grand View Research. https://www.grandviewresearch.com/industry-analysis/portable-blenders-market
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