Tastes of the World is a really simple way to prepare meals that you or others may be too hesitant to try. A new McCormick product, it’s a compacted spice and sauce pack to create meals from different cuisines around the world. And it’s healthy! No fillers or MSG that restaurant foods are filled with.
This product was part of a promotional marketing campaign that we as a group created for McCormick Canada.
In order to identify the best marketing strategy and objective for McCormick, a S.W.O.T analysis and analysis of the social, economic, technological, competitive and regulatory trends was undertaken.
ENVIRONMENTAL TRENDS ANALYSIS
WHAT DID WE LEARN?
Best market-product strategy for McCormick is product development - best opportunity for growth in McCormick is within their range of product offerings
McCormick products are already sold in 140 countries, making their market their strength by far
Product Goal and Target Market
The product goal for McCormick that we created was to develop a product of five variations that will satisfy consumers and encourage repurchase of McCormick products.
We chose to create a product that would integrate McCormick spice products into one package: Tastes of the World.
We decided to target the ultimate consumer, middle class homeowners aged 25 to 34 with children or families in North America. Our team put our marketing efforts toward this demographic as they are most likely to be interested in our product.
Promotional Marketing Strategy
The promotional marketing strategy our team chose is three pronged, with a social media strategy (Facebook), advertising (magazines), and sales promotion (coupons). I was responsible for handling the social media strategy.
SOCIAL MEDIA ADVERTISING
This will be conducted through promotional content on the official McCormick Facebook page
Ways to promote the Tastes of the World through this channel include: image posts with engagement prompts, a new product-focused cover photo, how-to video posts demonstrating use of the new product
These ads (to appear in home and lifestyle magazines) will help to reach the older end of our target market, as well as allow for a very direct and clear message to be sent out about the product.
In the introduction phase of our product, it is important to provide this incentive for new consumers to purchase Tastes of the World.