If one company wants to get benefit from customers, it must provide valuable products and services to them. Through product package, colour, taste, smell can convey information to related consumers. Such information can make closer relation with target customers. A wise marketer knows about the basic value of consumers expect and also understand how to add value that can please customers. Certainly, popular products and services can increase brand awareness and improve brand image. Meanwhile, valuable brand can support development of products and services. Thus, the brand and products (including services) exists in mutual effect. Marketers can be via shaping positive brand association to establish good impression in the minds of consumers, and further consolidate its market advantages. Since every product cannot avoid declining according to theory of the product life cycle, to launch new product can help company not only increase financial performance but also enhance its brand value in the long term.
Arnott’s Tim Tam is a famous Australian brand. This firm produces different flavours chocolate biscuits and sold to domestic and international market such as US, Europe, Indonesia and Israel. Tim Tam biscuit contains such ingredients, for example, the vanilla, butter and chocolate. As one kind of popular chocolate snack, the good taste is one big advantage for this company. Tastes including the original, dark chocolate, mint and white chocolate are very popular in the market. Besides, the firm use different colour to pack biscuits so that consumers can distinguish flavours. For example, my favourite flavour is the white chocolate, so every time I only need choose the white colour packaging and no need any hesitation.
Tim Tam not only provides delicious snack for consumers, but also wishes consumers can get special experience from feeling of chocolate biscuits. Tim Tam has selected target groups have different ages and lifestyles and especially, they are easily influenced by advertisements. Therefore, according to the AFN report in 2015, this company was via increasing media attention to open up US market. In addition, including Oreo and Kellogg are strong competitors in the biscuit market. How can Tim Tam survive under such fierce environment? Increase price or decrease supply volumes?
Obviously, consumers behaviour in the biscuit market are low involvement and price sensitive, so increase of price or decrease of supply volumes are not good for long-term development. Marketers in the Arnott’s Tim Tam wish to change current situation through launched new flavours products. Will stated that Arnott’s put four new tastes chocolate biscuits into the market in 2016. Those new flavours are enlightened by alcoholic drinks, and moreover new biscuits do not contain any alcoholic ingredients. This company wishes new products can increase own competitive advantages and raise the brand awareness. All along, this firm has been committed to produce wonderful tastes to please various kinds of consumers no matter are young or old, male or female. Hence, those new products are based on the company concept to develop. This video shows consumers have different opinions about various flavours.
Besides, the company is via social media such as Internet, TV, and radio to create positive brand association. For example, consumers can share their experiences and feelings via ‘#timtammoments’ in the Facebook. Such communication would not only can advertise new products but also improve brand image. Likewise, under such promotion can help company brand positioning and further increase customer loyalty. However, unfortunately, the Tim Tam has fallen into wars with supermarkets (Jason 2016). Possibly, this firm seek other channels to sell chocolate biscuits because it owns high brand value.
AFN, 2015, The global success of Arnott’s Tim Tams, retrieved 24th of April, < http://ausfoodnews.com.au/2015/11/02/the-global-success-of-arnotts-tim-tams.html>
Jason, M. 2016, Arnott’s should set up a huge Tim Tam middle of every big city, retrieved 23th of April, <http://www.news.com.au/finance/business/retail/arnotts-should-set-up-a-huge-tim-tam-store-in-the-middle-of-every-big-city/news-story/ed4b112a3bbe80a7467fac97eba2e659>
Will, 2016, News: Tim Tam Strawberry Champagne, Pina Colada and Espresso Martini, retrieved 24th of April <http://consumable.com.au/index.php/2016/02/09/news-tim-tam-strawberry-champagne-pina-colada-and-espresso-martini/>