MARKETING STRATEGY

Nuts for you has a marketing team that will help to boost our business’s revenue and income. Apart from the distribution by using wholesale method, nuts for you do sell ready-made packs that weighs 100g each to conquer the market of college students and staffs in International University of Malaya-Wales.

One of the most crucial strategies that Nuts For You apply is we use SWOT analysis to better understand our company’s strength, weaknesses, opportunities and threats.

 The strengths that Nuts For You has is definitely on the benefits of our peanuts. It is made of a premium quality and were carefully chosen by financial manager, Nabil. Our team is provided with sufficient information on our product’s speciality, and the benefits that our peanuts has to offer. In addition, teamwork is the biggest strength of our business as each of us has our own styles of marketing and selling the products. Nuts For You implement a very friendly and efficient customer service to our customers to provide satisfaction and increase the value of our product.

All in all, the most important factor for a business to bloom is the presence of value. If value isn’t portrayed well and high enough for the consumers, the purchase decision will be on pause. According to Insights (2014), value is interrelated with market penetration. Though value is perceived highly, brands penetration is more significant than loyalty of consumers. Shopper confusion often happens due to advertising ineffectivity, thus resulting in low product portfolio and low value.

Secondly, the weaknesses that our company faces is definitely the limited financial resources. Each of us were instructed to invest RM15 for the whole business operation’s which is restricting our option of which product to be sold. Next, since our business is a new brand, we are lacking of established reputation by the public.

The opportunities area is the interest and students’ preference on having peanuts as a snack. Peanuts are not for everybody as some people might be allergic, but those who favour peanuts, that is the opportunity that helps us increase our sales. Furthermore, in this technological era, a properly curated packaging of peanuts could charm our potential buyer as he/she would want to post it on their Instagram page.

On the contrary, the biggest threat is the competitors in our operating location. These competitors may have a more sophisticated and cheaper versions of our product, peanuts. Another factor is money, as students have their own daily budget to survive living in Kuala Lumpur.

The strategies that were used is based on:

1.     The demographics that make up our team’s customer base

2.     Their location

3.     What is the best way of distributing and selling my products?

4.     Where do they hang out in campus?

5.     The group influence by applying The Consumer Purchase Decision Process

Firstly, our team will carefully list out the potential buyers within the students of International University of Malaya-Wales, then we would select active Whatsapp groups for the community in the University. This is known as one of the strategies of advertising through social media. Nuts for you will forward and market our poster that includes the details of our business which are the type of peanuts, the price, the time availability (peak hours in campus) and sell our packaged peanuts in different areas such as in front of Seminar Rooms, Library, the smoking areas and around the Café. This step will lead to higher sales turnover and ease the students’ convenience to get our peanuts.

Group influence is the type of influence emerges when an individual or the member uses the behaviors and beliefs of the reference group as dependable sources. This influence is based either on the similarity of the buyer’s desires with the ones of the group members. For example, when a customer decided to buy our packaged peanuts, his/her peers will indirectly be interested to get one too. This is the reason why suitable location could help boost our sales.

For example, as mentioned in the wholesale distribution sector, restaurant’s customers will automatically reach for our peanuts as their appetiser while waiting for the main meal. By doing this, our team applies demographic in choosing a restaurant that is in the center of a town. When customers enjoy our peanuts, word of mouth will be spread and people would be interested in getting the peanuts for themselves.

 On social media, Nuts For You actively forward our posters through whatsapp to different types of community group in International University of Malaya-Wales. This is partially known as an organic social media. Statistics show that 67% of consumers use social media for customer support, and 33% prefer using social media instead of the telephone. If people can’t find your business via social media, they will look for your competitors who ARE present on preferred social channels. Nuts For You has fulfilled the loopholes when it comes to reaching our customers.

As mentioned in our company’s introduction, our profit will be donated to HOUSE OF JOY where it is a non-profit charitable home that cares for orphans, children, teens who are underprivileged and neglected. Our team chose to contribute back to the children community as children are the future generations.

The 4Ps consist of: