Barney Butter Company

Barney Butter Company 

The company was founded in 2008 in Fresno, California (Dormedy & Blanco, 2018). It is Family-owned and the third-largest producer of Almond butter. The company's products are non-GMO. It uses organic fair-trade ingredients whenever possible. The company applies blanched almonds to achieve the smooth texture of their butter (Bird et al., 2020). Blanching is taking off the almond skin before making the almond butter. It is done to set the company apart from its competitors, achieving a competitive advantage. Its top competitor is Volac Company. Other competitors include Peanut Butter & Co, NuttZo, and Nutella. The company's CEO is Dawn Kelly. 

Alternative Marketing Strategies 

There are several factors that the company can use to change its marketing strategies. One of the tactics is through the 4ps of marketing. The study will present the alternatives that can be employed in product and promotion strategies to enhance the company's revenue. 

Product

 The company should carry out innovation strategies for its products to attract a new target audience. The products can be innovated to be Allergen free and Low in Carbohydrates like 5 seed butter. It will help the company target consumers who love Vegan-friendly brownies, consumers on a ketogenic diet, and Low carbs. Products like 5 seed oil have lower carbohydrates, hence preferred over almond products. The products can work best as substitutes for almond butter because they are delicious, allergy-friendly, and have low carbohydrate contents (Jeske et al., 2018). Almond butter is a tree nut and is a source of tree-nut allergies. Therefore, posing a risk of many users developing allergies while using them. In addition to this, almond butter is richer in carbohydrates than products like 5-seed butter. People on a Ketogenic diet need to consume fewer carbohydrates, making alternatives like 5 seed butter appropriate. Coming up with alternative products that are allergen-free and have low cabs will help the company attract a new target audience, increasing its market share. 

Promotion

 The company can use the following strategies to promote its products; 

1. Product giveaways and samples.

 The company should use product giveaways and samples to introduce new products in the market. Alternative like allergen-free products should be introduced through giveaways and samples to entice the public into buying their new products. It is also a strategy used to test the products if they will benefit the company by raising its market share. It will also help in targeting a new audience that prefers allergen-free products. 

1. Customer referral incentive program

 Customer incentive and referral programs encourage current customers to refer new consumers (Lobel et al., 2017). It is done through issuing big discounts, giving out cash rewards to consumers, and free products. It is a promotional strategy employed to leverage the company's customer base as a salesforce. 

1. Branded promotional gifts

The company can issue their consumers gifts such as t-shirts, notebooks, and business cards. It keeps the business in the limelight, i.e., when consumers put on the company's t-shirts or use its branded gifts like pens or notebooks in public, they indirectly promote the company's brands.

References

Bird, J. A., Leonard, S., Groetch, M., Assa'ad, A., Cianferoni, A., Clark, A., ... & Nowak-Wegrzyn, A. (2020). Conducting an oral food challenge: an update to the 2009 adverse reactions to foods committee work group report. The Journal of Allergy and Clinical Immunology: In Practice, 8(1), 75-90. 

Dormedy, E., & Blanco, B. (2018, July). Establishing the Microbial Profile of Retail “Raw” Almonds Purchased in the United States, 2013 to 2017. In IAFP 2018 Annual Meeting. IAFP. 

Jeske, S., Zannini, E., & Arendt, E. K. (2018). Past, present and future: The strength of plant-based dairy substitutes based on gluten-free raw materials. Food research international, 110, 42-51. 

Lobel, I., Sadler, E., & Varshney, L. R. (2017). Customer referral incentives and social media. Management Science, 63(10), 3514-3529.