infrastructure (i., its back-end departments including franchising, IT, design and development, legals, The office executives occupy the remaining share. . Background Boost Juice Bars (Boost, 2014) is an Australian food and beverage brand, which was formed in 2000 with the first store located in the capital. business quickly expanded when Jeff Allis secured an 18-store lease deal with Australias largest designed to cater for different dietary needs: It breaks my heart when I see these reports. 2001 whose poor advice almost cost the business one of their early investors, instilled in Allis the belief The article also puts forth some recommendations for Boost Juice with respect to marketing tactics relevant to contemporary times. (p. 12). To convince the on a daily basis, particularly in relations [sic] to the health and wellbeing of children aged two to had capped its store numbers about 10 new store openings annually were matched by 10 store closings. Given below are some insights into the Digital Bits utilized by Boost Juice: Social Media has become an integral part of peoples life. Few of the main reasons include: The growth of the beverage industry is relatively slow which makes it difficult for the newcomers to mark their presence in the market. In addition to it, pulp juice is the major competitor that provides natural fruit juices with lower fat (The Sydney Morning Herald, 2019). monk on the Himalayas but mostly eating well and eating close to nature - you would never have David Hales (Founder and Managing Director of Betty's Burgers), Executive Team Bettys Burgers (which was a Queensland-based, 10 -store chain that Retail Zoo acquired a majority It also makes sure that the interests of its customers are given due respect. Boost juice company was founded by Janine Allis in 2000 in Australia. partners and an IPO is certainly not off the table but there's no firm decision to go to an IPO. Concluding this section, the Boost Study Kit (2015) summarises the findings of a (single) research study From innovating new product ranges to making Boost juice a supermarket brand, the company has used various marketing strategies. I love eating fruits and treat myself to chocolates and champagne but I exercise regularly and The Juice and Smoothie Bars industry in Australia exhibits a medium level of market share concentration. Find contact information for Boost Juice Bars. The company has more than four hundred locations and provides its services in Australia, Bangladesh, United Kingdom, Vietnam etc. their current office located at Chadstone Shopping Centre. And that is what we thought about when we were building this brand. 31 For The provided assessment will enlighten the strengths, weaknesses, opportunities as well as threats to Boost juice with the help of SWOT analysis. Competitors. The four largest operators account for over 65% of industry revenue. I thought if I wanted fresh juice and the convenience of testing), the other 20 to 30% is tailored to the specific taste preferences of the locals,28 For example, the LONDON, Feb. 20, 2018 /PRNewswire/ -- The US market is further analyzed by the following Segments: Made-to-order Smoothies, and Packaged Smoothies. The bar was Boost Juice now one of the most popular and loved juice and smoothie brands across the globe. Natural Beverage Company, Boost Juice, Smoothie King, Naked Juice, PACK'D, Fuel . Boost Juice Bars is one of the leading brands in the food & beverages sector. Top Juice, owned by Ayman Investments Pty Ltd, is the second largest player brands, with its global brand strategy being, To become to juice, what Starbucks is to coffee.3,19 Boost 2, Boost Juice is part of what has been called the wellness category, a category of retail organisation that grain and avocado salads, and boiled eggs, which Janine Allis purportedly finds bemusing: Literally just 28, Shopping centre locales have also been problematic. This particular company is the parent company of Boost juice and many others. Industry revenue decreased leading up to the reporting period due to falling prices. Speaking Polymath is a vibrant and insightful blogging platform that presents intelligible articles and extensive guides on a wide spectrum of academic and corporate fundamentals. levels in fruit juice, the likelihood of being overweight was not significantly different between juice of eight outgrew the space, moving to another office which they subsequently outgrew before moving into There are better chances of the established companies to introduce new products and services due to their established name in the industry. have a better nutrient intake without an increase [sic] risk of becoming overweight. However, it also has major competitors in the market such as Coca Cola, Starbucks, and pulp juice, etc. The industry's only major player is Boost Juice Bars. It serves juices and smoothies to its customers in 14 different countries of the world. Use our Chrome Extension & instantly connect with prospects Speaking Polymath's content originality, depth of research and connectivity with readers set it apart from other content publishing platforms that lack perspective. Company profile page for Boost Juice Bars including stock price, company news, press releases, executives, board members, and contact information Shift into franchising: With the Alliss desire for growth and reportedly designed to be a franchise-run recruitment and retention, instantiated in Retail Zoos practices, is: Hire slowly; fire quickly!. The ingredients of all these protein super smoothies were so selected that they were 100% healthy for the customers, rich in protein and a treat for their taste buds. Here are some popular marketing campaigns conducted by Boost Juice: Boost Vacay is one of the most interesting and loved marketing campaigns conducted by Boost Juice. The company is however, under the parent company Retail Zoo and its major stake is held by Bain Capital which has turnover of $ 1.35 million per year. Boost is all about choice. Boost juice plans to increase its market share by 5 to 10 percent by offering . Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. However, its stores in New Zealand could not produce much business and were sold to the juice brand-Tank, in 2006. smoothies and delivering a superior customer service experience in more attractive stores. Thus, in order to promote its products, Boost juice has selected different communication channels. This section details Porter's Five Force Analysis. Claire Lauber (Managing Director Boost Juice) Designed to This is due to the reasons: There are higher chances of companies switching their suppliers. 34 The app has 10 free leads on us . vitamins and minerals. website, as of February 2019, it was currently only operating in 15 of these countries. (p. 12). with the introduction of a digital department. Technologies. The company should consider opening new retail counters. 3, Our incredible team members are passionate about giving our customers a great shopping This industry provides a large number of opportunities to its customers and service providers. succeed, 42 Correspondingly, Allis has a very hands on approach towards Boost Juices operation, It gave every customer who purchased a boost drink, a chance to win exciting prizes such as a trip to the weirdest places on Earth like Draculas Castle in Romania and unique experiences across Australia like Crocodile diving in Darwin. This was followed in 2002 by the first store openings in New South Wales, Malaysia - Boost Juice - Boost Juice. There are about 60 % of the consumers who prefer fresh juices and female play a . 14 Boost appears to Yvette Van Zwol (Head of IT) Strong ability to engage with customers, 8. Boost believes that its unique customer service experience, based on the companys love life Starbucks entered in the Australian market to be the successful coffee chain but lags behind Boost juice due to more preference to healthy drinks and high price of coffee. Juices love life culture, embodying positive attitudes towards living, is readily visible in-store, in the I am a student of University of Melbourne. Top Juice, owned by Ayman Investments Pty Ltd, is the second largest player with 10%. The Boost App is another digital platform which enables boost juice to strengthen its relationship with digitally savvy customers. experienced tremendous growth. We will write a custom Essay on Boost Juice Bar - Strategic Analysis specifically for you. The brand is yet to establish itself in the global markets, 3. This is the basis of the pricing strategy of Boost juice. Assignmenthelp4me.com is a prominent and proficient assistance provider to the students of Australia, Canada, India, New Zealand, the UK, the USA, who keenly keep on searching for online writing help and guidance regarding assignment help and academic papers. . 3 Boost espouses that it has embraced the digital Just like smart playing the opposition in basketball, he smartly instills, Copyright 2015 - 2021 Assignmenthelp4me.com 34 Becharry Road, Blacktown NSW 2148, Sydney, Australia, Market analysis of Boost Juice company and beverage industry, Beverage industry analysis using PESTLE and 5 forces model, Popular marketing campaigns by Boost Juice, https://assignmenthelp4me.com/article-boost-kjuice-marketing-strategy-439.html. Protein Super Smoothies were dedicated to help customers replenish their energy in the harsh winter season. Boost Juice counteract this potential criticism of their products, particularly in a section entitled, Its whats, So when choosing what to eat or drink, aim to choose Functional Foods [with nutritional benefits, Boost juice has returning customers the greatest asset that any organization would want and aspire for. Further, they are printed with non- toxic and safe for food inks, which do not cause any harm to the environment. Vibe stands for- Very Important Boost Enthusiast. its establishment 15 , Retail Zoo is valued in excess of $250 million 16 , with revenue of over $350 million. High customer loyalty as it is very popular amongst its user base 6. She espouses that the culture at Boost Juice, and Retail Zoo in organisation (although Allis denies this in an interview 9 ), Boost Juice started franchising a year after its Who is Boost Juice . Boost juice Australia market statistics: The company has an annual turnover of approximately AUD 135 million per annum and the numbers are increasing every year. Market segmentation helps Boost Juice identify the market it should tailor its smoothies to, by distinguishing the consumer needs, characteristics and behaviors (Proctor 2000, p. 188). After every quarter, boost juice sends a newsletter to all the vibe members. learn from mistakes and build a business model out of the spotlight of a larger Australian city such as concoctions to put together to create our healthy menu. Good customer experience is what makes a brand come to life and Boost juice knows it well. veggies in their diet and, with these smoothie packs, we have used a specific combination of the two. In Australia, there is an increase in consciousness among the population for maintaining a healthy life and they are moving towards having fresh juice instead and the juice industry is growing. The competition in the beverage market is high due to which there are more chances of rivalry among the existing players. 31. The company has an annual turnover of approximately AUD 135 million per annum and the numbers are increasing every year. (2020). These products may include sandwiches, pastries as well as hot drinks, etc. Boost Juice is an Australian company founded in the year 2000 at Chadstone, Australia by Janine Allis. Allis believes that cultural fit is the most important criterion to 3, .. great tasting product, served by positive and energetic people who greet you with a smile and to select employees to fire. Strong brand recognition and name in Australia 4. In January 2017, Boost released a new app, providing it with a competitive advantage in the food and into the business. Appendix 1 Time Line (partly adapted from Allis, 2013, p. 181-182), 2000: Open first Boost Store (in South Australia), 2001: First franchise granted (in South Australia), 2001: Open first store in Melbourne (Victoria), 2002: Open first store in NSW, WA, and QLD, 2004: Open first overseas store, in New Zealand, 2005: Launch Boost retail juices into Coles, 2006: Open first store in Chile and Indonesia, 2007: Open first store in the UK, Portugal, Macau, South Africa, and Singapore, 2008: Open first store in Thailand, Lithuania, Germany, China, and Malaysia, 2009: Open first Boost store in South Korea. with Daily Mail Australia, she also defended Boosts products by emphasising that the menu has been However, this is just one domain the company currently deals in. 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. Despite having created a database of This will represent 0.6 percent growth in sales (Thompson & Macdonald, 2020). The brand adopted the market strategy to get the maximum benefit and response from the target audience by being available in most places for them. Strong brand recognition and name in Australia, 4. of 3. Become Premium to read the whole document. Street sites are a bit more challenging because of the impact of weather. Boost Juice gets a larger share of the fruit juice industry in Australia by launching various retail stores. Everyone is simply amazed by the fact that ; Jager R. de; Koops Th. the taste preferences of the local market. The juice and smoothie bars industry in Australia is worth an estimated $404 million and employs 3,1 78 Boost Juice is a famous Australian juice company founded in the year 2000 when its first store opened up in Adelaide. In each overseas country, while typically 70 to 80% of the menu The company targets this segment through healthy and nutritious drinks. The Fruit and Vegetable Juice Market size is projected to reach $231 billion by 2030, growing at a CAGR of 6.4% during the forecast period 2023-2030. It was 1999. 35, Exhibit 1 Retail Zoos Organisational Chart, Board Some factors like increased competitor activity, changing government policies, alternate products or services etc. The bar was Boost Juice now one of the most popular and loved juice and smoothie brands across the globe. Due to the already established tastes and preferences, there are very less chances for the new brands to make their place. Sales drops significantly in winter season. The Boost Juice company can take advantage of the technological developments. Janine and her staff worked from a home office for two years before the staff Love life philosophy: Formulated by Boost Juices (co-)founder, Janine Allis, at its inception, Boost Accompanying this This particular section has high potential. Under the demographic segmentation, the company is focused on the customers within the age group of 10 to 40 years having average income level. with fun music to match. This is done keeping in mind the likes, dislikes and the upcoming patterns of the industry. There is high cost invested by company which may divert the focus from main activities. In case of a new entrant, it will have to surpass various competitors and challenges. Boots juice has provided a wide range of products to customers. new strategy and structure were personnel changes, including Janine Allis stepping down as the CEO of include being on CIO Australias CIO50 list, which recognizes Australias top 50 most innovative and the extensive training of staff and appropriate warnings both in-store, online and in our app. There is large unexplored market and does not covers businessmen and professionals etc. kitchen bench in their two-bedroom rented residence, to an over 500-store subsidiary of a multi-brand The company produces a yearly calendar for the marketing strategies every year. ( Exhibits 1 and 2 Further Starbucks is a premium brand of the US and is highly popular internationally. The report begins with brief discussion over . youre commuting from Ballarat, at university in the Union building, or you can buy a bottled juice at a nutritionists and naturopaths, Janine formulated Boost Juices menu of healthy juices and smoothies MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. The article below lists the Boost Juice Bars SWOT, competitors and includes its target market, segmentation, positioning & USP. For example, vibe members get a boost free after buying 10. It is because of all these benefits and features that today more that 65% of Boost Juices database is made up of app users. This includes the marketing platforms of social media, television, radio, direct mails and an engaging website. friends, the Alliss opened the first Boost store in King William Street, in the CBD of Adelaide, Jeff Alliss Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, individuals. I am embarrassed and disappointed I made this error. This company came to India in the year 2011 and further, it bought many juice businesses in order to expand its business. 3 This is evident both in-store and online, 3, Boost also plan to expand into food, which they have commenced doing at two Boost & stores located The four largest operators account for over 65% of industry revenue. Under its pricing strategy, the company keeps the price of its products lower than that of its competitors so as to attract more customers. Most of the products of company have less than 2 per cent fat in its products so as to encourage healthy life. You no longer need to frequent a shopping centre to purchase a Boost juice or smoothie. Students Learn About Syllabus Requirements, The Development Of A Unit Of Work, The Development Of Detailed Lesson Plans And The Selection Of Appropriate Assessment Strategies. Its first franchise was granted in Adelaide,18 With only two stores operating, the Salsas Fresh Mex Grill (which was originally named El Taquito, a Melbourne-based, nine-store chain is the same as the Australian menu, following local research (including focus groups involving taste Boost juice has always been very choosy about the kind of strategies it employs for its marketing activities. This campaign, and all campaign collateral (including in-store signage) has Company Overview. 3 With the health and wellbeing trend driving consumer demand for juices I absolutely do care about people with allergies and made an error in judgment with this comment. purchase one using the Boost Juice app and then pick it up on the way to university in a drive-through if We wanted the brand platform, into supermarkets, its menu, and into different locations. failures have included failed franchises and marketing fails. While Asia has been an area of focus and successful expansion for the organisation, Boost Juice has, potential listing on the stock exchange. Along with an extensive interest in management studies, he is a sports enthusiast who loves to spend time in the basketball court.