Published by MBA Skool Team, Last Updated: January 26, 2019
Marketing Strategy of Campbell Soup analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Campbell Soup marketing mix, help the brand succeed in the market.
Campbell Soup marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Campbell Soup Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Campbell Soup marketing strategy can be explained as follows:
Campbell soup is one of the largest soup and food products companies in the world. The company has a diverse offering as a part of its marketing mix product portfolio. The Campbell soup company product line is divided into 3 divisions, the "simple meals" division consisting soups that are either condensed or are ready to serve, the "baked snacks" division, which includes Pepperidge Farm and the "health beverage" division which includes the V8 Juices. The products offered by Campbell soup are ket fresh, healthy and exotic. The white and red cans mark the presence of the most famous brand of Tomato soups in the world.
Campbell Soup Price/Pricing Strategy:
Below is the pricing strategy in Campbell Soup marketing strategy:
Campbell soup focuses on prices which are competitive as a lot of other FMCG companies offers similar soups and food products.
The price was set for the Campbell's Go packet at 2.99 US Dollars. And for Royco Minute soup as 3.75 US Dollars for 4 single serving packets. This made Campbell soup one of the cheapest brands to be sold world-wide in any convenient store despite having a high product quality. The red and white tomato soup cans were available for an average of 90 cents per can.
Following is the distribution strategy in the Campbell Soup marketing mix:
Campbell soup is available at almost all grocery shops, departmental stores, convenient stores etc. It also promotes its placement in higher quality stores such as supermarkets. Apart from the stores, they can be found at all gas stations and vending machines. They can also be brought online from their official site such as Campbell's Tomato soup. In North America its business figures reveal a revenue of 5.2 billion Dollars and in Europe and Asia-Pacific, its business represents 1.5 billion US Dollars.
Campbell soup products are available worldwide in more than 120 counties.
Campbell Soup Promotion & Advertising Strategy:
The promotional and advertising strategy in the Campbell Soup marketing strategy is as follows:
Campbell soup uses different media channels to reach out to its customers. The target segment for the company is the millennials. It appeals a large segment by use of television ads. The company also uses print media and online ads to reach out to its relevant audience. Moreover, its presence at every store with a relatively larger volume marked its promotion itself. Its brand awareness as a cheap and healthy soup has made it famous within its customers. Its promotion can also be seen on several news articles and various magazines. Hence this completes the marketing mix of Campbell soup.
About Campbell soup:
The Campbell soup company is an American company which was started by Joseph A. Campbell, a fruit merchant from New Jersey and Abraham Anderson, from South Jersey in 1869. This company is a producer of Canned soups and related products. Its products are sold in over 120 countries across the world.
It has its headquarters in Camden, New Jersey. Campbell soup is known to be the world's largest soup manufacturing company.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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