Wednesday, September 21, 2011

Innovative marketing!

赤鱲角亞洲國際博覽館快餐店 Category:H. J. Heinz Company Cat...Image via WikipediaOne of the reasons that American corporations have dominated the consumer product industry across the globalized world is their innovative marketing strategies. The corporations are willing to invest money into research to find out what exactly the consumer wants and then modify existing products or launch new ones to fulfill these needs. A recent example is the new packaging of ketchup by Heinz. Hitherto the company marketed tomato ketchup in the form of large bottles and small single serve sachets. Both these products were squeezer products.

Sometime ago, probably after receiving consumer feedback, the company launched a research to find out how many are squeezers as against dippers. In the sense they wanted to find out how many ketchup eaters prefer to squeeze ketchup over their food such as hamburgers, french fries, hot dogs, etc and how many like to dip their food into the savory sauce. The results were skewed in favor of dippers and in order to satisfy the majority the company changed their packaging into a dual purpose one. If one likes to squeeze they can do so and those who like to dip can do so too. The new package can be used both ways.

I am pretty sure this will increase Heinz's market share in the ketchup market. I wonder how many Indian-owned companies employ these kind of strategies to enhance sales and get greater market share. I would be curious to know if there are any and what they do.

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