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Kraft Singles: Targeting the Millennials
Strengths will help attract Kraft Singles to its target audience: millennials and millennial moms. The strengths of Kraft Singles include financial investments and statements. Kraft Singles is a very wealthy company with many years of experience. They have had plenty of time to accumulate capital, and now it is easier for them to decide to experiment in sales to increase their profitability. The second strength is experienced in experiments since they became the first during the existence of Kraft Singles in many segments. Innovations in sales, branding, advertising should not be complex, and it is easy to reach new audiences in innovative ways. The third strength is the high quality of the product and an already stable group of loyal customers. The fourth strength is the high adaptation in innovation under pressure from the state and lobbyists. Kraft Singles are good at building relationships with government agencies and promoting their innovations without compromising the regulations they make.
Weaknesses can become an obstacle for Craft Single on the way to gaining a new audience. Due to faults, Kraft Singles will not compete and gain advantages in a new market. The most significant disadvantage for Craft Singles is the environmental damage the company is causing. For millennials, ecological issues take on a special meaning instead of baby boomers. If a company wants to enter the market and provide a product to millennials, the environmental agenda must be consistent with their values. Millennials are a value-oriented stratum of the population. The second weakness is customer dissatisfaction, reflected in online platforms and forums on the Internet in social networks.
Millennials spend a lot of time watching the news on the Internet. They may see bad reviews and prefer a different brand and manufacturer in the store. The third weakness is that Kraft Singles cannot fully exploit intellectual property rights in the area of products it provides. Other brands and manufacturers can easily compete with Kraft Singles without intellectual property rights. The fourth weakness is the lack of diversity in the workforce, which significantly affects international sales.
Reference
Ivey Business School. (2016). Kraft foods Canada: Targeting the millennials. Ivey Publishing.
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