The stores: The Boost Juice operates through Franchise stores which is a very successful marked ploy because the owners realized that unless people are involved in the product stores with their ownership and shared similar ideas like the menders, the formula will not be a success and so to share the energy, enthusiasm success and rewards ,people had to passionate about this. This is reason why Boost juice operates as franchise stores. “The brand: Boost juice has been ranked as the 20th most powerful brand in Australia.
This is the only franchise brand to be listed -the response for the popularity of the brand was the sense of fun that the well trained staff always exhibited. The image and logo of Boost juice is very colorful and invokes a sense of well being. “Brand power is the ability to produce irrational, loyal and passionate behavior. Consumers are looking for brands they can emotively believe in. They want to know what a company stands for and judge them accordingly. This isn’t just about the environment or whales; its a passion of purpose. She further adds that the brand equity has been established as rightly the aim of the marketing channel is to showcase Boost Juice not only as a mature brand but also the relevancy Of the marketing campaign to the product. Customer profile; Boost juice customers are not limited to any age group of demography. The product is projected as being healthy with the vigor of real fruit that it is attracted by all. In fact even patients in hospitals endorse the healthy juice bars. The customer profile has been so targeted that this product is universally liked by all.
The product comes with the taste of fresh fruits and has no chemical mixes and so is liked by all. Marketing and branding program of Boost juice: The franchise stores are the main marketing partner of Boost juice. Every franchise store is a part of the marketing channel. The branding exercise has been continuously done through brand recall and brand recognition. Consumer immediate recalls the brand boost juice the moment they see any rut. This is the great asset that boost juice was able to create the brand equity. People, especially kids recognize the brand so well that it remains a important purchase item in weekly shopping lists.
It has been said that boost juice sticks are found in almost school kids hands every time of the day. It has been certified as being perfectly healthy for consumption, age wise and quantity wise too. Sources of brand equity; The premium product comes with a marginal premium price and is recognized for this aspect. This brings in the brand recognition for boost juice. Boost juice has used this brand to launch into related health products in the juice bar format. This has also helped boost juice to expand into other countries adopting the domestic leaders to launch a domestic version of Boost juice.
The partnering with Nestle in India in the form of Smoothies is a brand equity measure for Boost juice. The consumer based brand equity sources comes from the attitude the consumer exhibit about Boost juice. The consumer perception has allowed Boost juice to leverage its product to price and expansion. The brand projection is so strong that the name sells and creates a stir in the consumers. This has been carefully built by consistent product quality and intangible benefits in the form of heath and superior quality.
The superior brand value created so carefully with the image of healthy consumption and living has created such a positive image that it has been able to leverage this position to expand globally with only product base that is the juice bars. Though the founders are not looking for adding further product lines, it has been suggested by a study of competitive industry functions that it would add value to boost juice if it adds a slightly deviated product line from juice bars. Boost juice brand audit: The current marketing profile of Boost juice is to manage the brand so effectively created.
The image of boost juice in the market is very high. The impact it has created in the minds of consumers and competitors is so clearly marked that it has been able to rise itself above the marketplace and position itself in the minds of the customers. The brand communications have also been promising and have fulfilled all those messages which it has committed itself to. This has been the greatest source of equity. The awareness that boost juice has created has put Off all other competitors far Enid and hence it is the industry leader. The brand is instantly recognizable by its distinct packaging, flavor and inimitable appeal.
It is relevant as a healthy juice bar while competitors have not been able to carve that niche. People prefer this to other juice sticks. Boost juice has returning customers the greatest asset that any organization would want and aspire for. It enjoys a lion’s share of market for juice bars and though sold at price premium it commands the respect due to it. The Brand structure of Boost juice is the entire family of products sold by it. The word Boost juice is enough for people o recall the products associated with this name. The style and flavors are peculiar to it.
It is a standalone brand and hence it becomes easy to audit the brand based on brand structure. Brand management: the most important aspect of brand. It means how Boost juice is able to bring together the product, the technology, the market, the customer, the price, the budgets and the brand education together to bring about the detailed marketing efforts in marketing Boost juice. Recommendation Although Boost juice has get great customer loyalty, they still need to development the product. It will be better if brand extensions can also be introduced due to many competitions in the market.
Based on assumption of Buddy (1989) and Kane (1 987), consumers prefer brand extensions over new brands, managers often use an existing brand to enter new product categories in hopes of leveraging trust in the brand to reduce introduction costs. Boost Juice can try on new extensions like Ice cream made from Juice and bubble drinks. Also, they can try to create new product that suitable for people who start their diet by reduce the total of calories on the juice and the total of sugar. Consequently, most of people can consume the juice even people who get an ill such as diabetes, cholesterol and so on.
However, brand extensions can also damage brand equity (Liken and John 1993), Thus boost Juice should consider the possibility that extensions may harm their original brand (Millers, park, and McCarthy 1997). Conclusion: It cannot be doubted that Boost juice, which enjoys tremendous brand value for its fruit bar product is by no means an easy competitor. The introduction of fruit bars by other established players in the market have only met with reasonable success because of the benchmarking standards set by Boost juice.