vegemite overview for marketing
TRANSCRIPT
![Page 1: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/1.jpg)
Vegemite
A product of Kraft foods
![Page 2: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/2.jpg)
In 1922, a Melbourne man called Fred Walker (who started the Fred Walker Company which eventually became Kraft Foods Limited in Australia) had the bright idea of using yeast extract left over from the manufacture of beer to create a wonderful source of vitamin B and a tasty new spread that every Australian will grow up with.
![Page 3: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/3.jpg)
It is the registered brand name for a dark brown -- almost black -- salty food paste mainly used as a spread on sandwiches and toast, though occasionally used in cooking.
![Page 4: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/4.jpg)
Its taste and manufacture are similar to the British Marmite, and indeed the product was for a short time known as "Parwill" as a rather unfunny and unsuccessful pun on Marmite's name (as in the sentence: "Ma might not like the taste, but I'm sure Pa will"). Vegemite's current name was picked at random out of a hat of other possible choices by Fred Walker's daughter, Sheilah.
![Page 5: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/5.jpg)
The spread is extremely strongly flavored, and a little goes a long way - most people spreading vegemite as thickly as jam or butter will get a nasty surprise when they bite into the resulting product
![Page 6: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/6.jpg)
Nutrition
Yeast extract is four or five times more concentrated than yeast, making it one of the richest known sources of the vitamin B group.
In addition to being rich in vitamin B, yeast extract also contains other essential proteins and minerals
It is also fat free
![Page 7: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/7.jpg)
Prior to the outbreak of World War II in 1939, Vegemite gained official product endorsement from the British Medical Association. This endorsement coup allowed Vegemite to be advertised in the British Medical Journal and for medical professionals to be able to recommend Vegemite as a Vitamin B-rich, nutritionally balanced food for patients
![Page 8: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/8.jpg)
Vegemite's rise to popularity was helped by highly successful marketing campaigns in the 1940s, using groups of smiling, attractive healthy children singing a catchy jingle entitled "We're happy little vegemites". Indeed, many Australians still use the phrase "happy little vegemite" to describe such children.
![Page 9: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/9.jpg)
In April 1984, a 115g jar of Vegemite makes grocery store history by becoming the first product to be electronically scanned at the checkout in a supermarket in Australia. It was scanned in Woolworths at Chullora NSW and the price was 66 cents. The product is on display at Woolworths head office in NSW should anyone feel inclined to make a pilgrimage.
![Page 10: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/10.jpg)
Today Vegemite, which remains relatively unchanged in recipe and label, now sells over 22 million jars every year. Vegemite may have started on toast but it remains a vital ingredient in many contemporary recipes such as risotto.
![Page 11: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/11.jpg)
Did You Know?
22.7 million jars of Vegemite are manufactured in Australia every year - that's 235 jars per minute.
30 jars are sold in Australia for every one exported.
Vegemite is in nine out of ten pantries in Australia.
![Page 12: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/12.jpg)
Kraft launched Vegemite snack abouts in 1999"Snack abouts" was created for children and adults so that people could snack on Vegemite anywhere, anytime.
With four buttery crispbreads in every pack and a handy red stick for spreading, Vegemite snack abouts are a popular addition to Aussie kids’ lunchboxes.
![Page 13: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/13.jpg)
More information:http://www.vegemite.com.au/index.cfm?fuseaction=home.welcome
This includes old ads for the company in the Our Heritage section
![Page 14: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/14.jpg)
![Page 15: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/15.jpg)
For the first time in 85 years, Vegemite has now launched a new product.
http://www.youtube.com/watch?v=4wVmuUEOZe8
http://www.youtube.com/watch?v=7lK4ADMuj8k
![Page 16: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/16.jpg)
Issues for International Sales
What market entry method would you use?
Would you change the product or keep it the same?
Who would you market to? How would you promote the product? What would your promotional message
be? How and where would you sell it? What kind of a price would you attach to
it?
![Page 17: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/17.jpg)
4 P’s of Marketing
Product Promotion Place (Distribution) Price
![Page 18: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/18.jpg)
Adaptation vs. Standardization
Standardization: keep product the same across countries
Adaptation: change product to meet local needs
![Page 20: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/20.jpg)
Q. How many restaurants does McDonald's have and in how many countries?A. There are more than 30,000 McDonald's restaurants in 119 countries.
Menus vary around the world.
![Page 21: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/21.jpg)
Product Adaptation
Packaging Color Size Usage Labeling Features Technical issues
![Page 22: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/22.jpg)
Factors which drive standardization
Cost Brand Name Control of Image Economies of Scale Globalization of marketplace
![Page 23: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/23.jpg)
Factors which drive adaptation
Use of product Legal differences Buyer behavior patterns Cultural differences Economic factors
![Page 24: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/24.jpg)
Coca-Cola http://www2.coca-cola.com/
brands/brandlist.html Electricity http://www.voltagevalet.com/
country/all.html
![Page 25: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/25.jpg)
Global Segmentation
Identify a market segment that crosses country lines and sell a standardized product to it
![Page 26: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/26.jpg)
Barbie in Middle East http://news.bbc.co.uk/2/hi/
middle_east/4605334.stm
![Page 27: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/27.jpg)
Possible Segments
Global segment: MTV generation, global business travelers
Regional segments: Asian edition of Microsoft word
Unique segments: first-time parents, sophisticated photographers; working women
![Page 28: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/28.jpg)
India
http://www.mcdonaldsindia.com/ourfood/veg/mcaloo_tikki.html
![Page 29: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/29.jpg)
Malaysia i'm lovin' it! McDonald's® Malaysia
![Page 30: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/30.jpg)
Middle East http://www.mcdonaldsarabia.com/
english/uae/nutrition_inov.asp
![Page 31: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/31.jpg)
Uruguay
http://www.mcdonalds.com/countries/uruguay/food.html
![Page 32: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/32.jpg)
Greece
http://www.mcdonalds.com/content/countries/greece.html
![Page 33: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/33.jpg)
Signage
http://www.mcdonalds.com/corp/news/media/multi/Rest/signage.html
![Page 34: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/34.jpg)
Alternative International Product and Promotional Strategies
![Page 35: Vegemite overview for marketing](https://reader034.vdocuments.mx/reader034/viewer/2022050801/551f16224a795993108b4cc4/html5/thumbnails/35.jpg)
The World’s 10 Most Valuable Global Brands
Source: BusinessWeek 8/26/2007http://www.finfacts.ie/brands.htm