Market Analysis on Milka Krem's Customers and Marketing Strategies Development for Milka Krem

Date

7-2022

Degree

Bachelor of Science in Agribusiness Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Remund Jordan D. Labios

Committee Member

Cris Edwin B. Bonalos, Mar Cruz

Abstract

The study was conducted to assess the marketing strategies of Milka Krem, identify areas for improvement, and develop recommendations. This study specifically aimed to (1) describe and determine the market of Milka Krem, (2) identify the marketing strategies implemented by Milka Krem, (3) analyze and evaluate the marketing strategies concucted by Milka Krem, and (4) develop a long-term marketing strategy for Milka Krem.

A total of 190 respondents were collected to describe and determine the market of Milka Krem. The market study was conducted through online surveys, specifically Qualtrics. The online survey was composed of four parts which are the demographics, brand awareness, brand perception, and customer brand and product inclination. The questions were patterned to the Aaker model to determine the brand’s brand equity. A one-on-one and phone interview were conducted to the Milka Krem manager, staff, and resellers, to identify the marketing strategies of Milka Krem. The data collected through the online survey and interviews were used to determine the brand’s Aaker model, marketing mix, and SWOT analysis to assess the market and marketing strategies of Milka Krem.

Results of the market study showed that majority of the respondents were students and aging from 18 to 25 years old. The respondents were also mainly from the province of Laguna. They found out about Milka Krem through their physical store and purchase their products through walk-ins. The products that were familiar and purchased mostly were milk, yogurt, cheese, and pastillas. The respondents described the products of Milka Krem to be tasty, high quality, and nutritious. It was also found that the types of advertisement that the respondents would be attracted to buy more Milka Krem products were through online advertising and personal recommendation.

In the interview conducted with the Milka Krem manager, staff, and resellers, it was found that the main marketing strategy the Milka Krem have been implementing is the word of mouth. This is the marketing strategy they have been using since Milka Krem in UPLB was established. When the pandemic hit the country, Milka Krem was forced to close its physical store. With this, Milka Krem developed new marketing strategies which are the online advertising through social media, meet-ups, and the development of the resellers. The mentioned marketing strategies helped Milka Krem to acquire sales given that there were restrcitions due to pandemic lockdown where the customers cannot buy from the physical store of Milka Krem. However, online advertising were limited to posting of pre- order forms and store hours only. The meet-ups with customers were also stopped when the physical store reopened in August 2020. As for the resellers, it was found that their number decreased since the reopening of the physical store of Milka Krem. The marketing strategy of the resellers based in their interview was through online advertising through social media, specifically Facebook.

Through the Aaker model, marketing mix, and SWOT analysis, the data collected were assessed and were used to develop marketing strategies for Milka Krem and identify areas for improvement. The marketing strategies include boosting of marketing activities by hiring a marketing personnel, preparing of publication materials for offline and online use, conducting product free tastes, digitizing communication with customers, and inviting of sellers to be resellers of Milka Krem’s products.

The marketing strategies that were developed are strategies that would help improve the marketing of Milka Krem products. Implementing the identified improvements for Milka Krem can ensure that Milka Krem would be updated to the marketing strategies that would help them reach their customers, acquire sales, and continue to support the local farmers. With this, this study hopes to help Milka Krem to continue its success in the following years through its marketing strategies.

Language

English

LC Subject

Marketing--Decision making, Marketing Management, Milk trade

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993 2022 M17 R36

Notes

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Document Type

Thesis

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