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Pate_the market analysis report

The document provides a market analysis report for Doritos. It summarizes Doritos' financial success, with revenues increasing 6.8% in the past year. It also analyzes Doritos' marketing strategies, highlighting their "Another Level" campaign targeting Generation Z and partnerships increasing their presence on social media and YouTube. The document recommends Doritos prioritize increasing their social media presence, especially on YouTube, to attract younger consumers and boost brand exposure.

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Page 1 A Market Analysis for Doritos Alex Pate Full Sail University Project & Portfolio II: Business and Marketing 12/20/19
Page 2 EXECUTIVE SUMMARY The marketing analysis report is for the snack brand, Doritos, which has illustrated excellence in recent years. Financial profit, brand growth, and marketing strategy are all showcased in the report. The report will also highlight social media platforms that can benefit Doritos, and it recommends multiple practices to implement to increase consumer interest.
Page 3 OBJECTIVE The report’s goal is to aid Doritos in improving their stance in the snack industry. The research has been assembled to illustrate to Doritos how they can connect with their targeted audience with the assistance of media platforms surrounding them, but a key factor for implementing the connectivity is updating the marketing strategy currently utilized. RESEARCH METHODOLOGY The information acquired was predominantly found on the internet, and there was a blend between qualitative and quantitative research utilized for the report. All the research found and used was in the year range of 2016 to 2019. Specific consumer demographics were difficult to find; Dorito competitors not associated with the parent company were also challenging to examine. The information missing is descriptive entail on consumers’ interest or hobbies RESEARCH AND KEY FINDINGS The brand is excelling economically, for “Doritos took in $2.4 billion” this economic year. The revenue was an increase of 6.8 percent. (Parker, 2019). The tortilla chip industry in its entirety saw an increase of about 5 percent while the snack industry also grew by an estimated 5 percent. The statistics showcase the success Doritos currently has in the profiting snack market. Doritos launched an “Another Level” campaign to accommodate their targeted market. The campaign targets generation z by manipulating the branding identity of Doritos, for the brand released an advertisement showcasing a blank red and
Page 4 blue Dorito bag. The blandness represents the importance of change and the willingness to stand out. The brand also reaches their targeted audience by obliging their interest in ad free entertainment. “Doritos is targeting Gen Z with a digital media buy that includes skippable YouTube ads, placements on social media and out-of-home, and partnerships with Warner Music's entertainment and pop culture website Uproxx and video shopping app NTWRK.” (Williams, 2019). Doritos Blaze is a product associated with the brand that offers a spicy chip to consumers; Generation z is the chip’s best customer, and they utilize it for creative reasons. The chip has been used in many different challenges via YouTube. For example, youtuber, Zforthree, created a challenge video for the chip that acquired over 15,000 views. (Zforthree, 2018). He is a part of generation z, and the majority of his fanbase is a part of it as well. The commercial, Doritos Ultrasound, raised many eyebrows, for it was signaling a controversial subject, abortion. (Thomas, 2016). Although the commercial brought attention to the Dorito brand, it created unnecessary uneasiness with the brand. Consumers are split on the topic, so it can create a separation within the Dorito consumer market.
Page 5 CONCLUSIONS The financial success and brand growth the company has validates Doritos’ great position in the snack industry. The branding tactics exploited are intelligent, for the brand is doing their best to achieve long-lasting excellence. Doritos has done a superb job gathering their targeted market’s attention; The priority now should be maintaining their interest in the brand by updating marketing strategies. RECOMMENDATIONS The brand needs to prioritize social media content on platforms like YouTube. Doritos’ targeted market takes great interest in entertainment media, and the brand can take advantage of the media to enhance consumer fondness. Doritos should also implement advertisements on audio stream platforms. The cost of the potential collaborations is currently unknown, so additional research is required, but many young people utilize the platforms. Increasing consumer interest would not only benefit product sales but the brand’s exposure as well. Brand exposure can lead to multiple sponsorships/partnerships with prominent companies, and the deals could bring revenue to Doritos. An increase of revenue is always beneficial to the brand, for product push or equipment purchase is enabled as a result of the additional profit. A smart goal for Doritos is to reach 100k subscribers in the next six months on their YouTube channel. Creative content unrelated to the content already established on television broadcast is necessary to attract generation z and increase subscription. YouTube is a powerful tool for entertainment in the young generation, so Doritos should elevate their presence on the platform to expand their exposure and attractiveness.
Page 6 Regularly updating content on Instagram and twitter are also good ways to increase and uphold consumer connectivity to the Dorito brand. Also, it would be beneficial to interact with consumers via comment section on the social media platforms, for people like to see their voice being heard. The interaction would aid in consumer loyalty, and it would benefit Doritos’ perception in the public eye.
Page 7 REFERENCES Amadeo, K. (2019, November 24). Trump's Tax Plan and How It Affects You. Retrieved from https://www.thebalance.com/trump-s-tax-plan-how-it-affects-you-4113968 Day, B. (2019, October 11). Consumers search for new spins on tortilla chips. Retrieved from https://www.bakingbusiness.com/articles/49574-consumers-search-for-new-spins-on- tortilla-chips Doritos. (2019). About Us. Retrieved from https://www.doritos.com/about-us Doritos. (2019). Photo screenshot. Retrieved from https://www.doritos.com/videos Forbes. (2019). Employees list (Frito-Lay). Retrieved from https://www.forbes.com/companies/frito-lay/#6ac2c28930bf Forbes. (2019). Employees list (Kellogg’s). Retrieved from https://www.forbes.com/companies/kellogg/#fa5b6816de2e Forbes. (2019). Employees list (Snyder’s Lance). Retrieved from https://www.forbes.com/companies/snyders-lance/#2aba609e25de Forbes. (2019). How Important Is Frito-Lay For PepsiCo's Growth. Retrieved from https://www.forbes.com/sites/greatspeculations/2019/07/31/how-important-is-frito-lay- for-pepsicos-growth/#57c2cb291f63 Frito-Lay. (2019). Leadership. Retrieved from https://www.fritolay.com/about-frito-lay/our- people Frito-Lay. (2019). ROLD GOLD® Pretzels. Retrieved from https://www.fritolay.com/brands/rold-gold-pretzels Frito-Lay. (2019). SUNCHIPS® Whole Grain Snacks. Retrieved from https://www.fritolay.com/brands/sunchips-whole-grain-snacks
Page 8 Frito-Lay. (2019). Awards & Recognition. Retrieved from https://www.fritolay.com/about-frito- lay/awards Frito-Lay. (2019). Sustainability. Retrieved from https://www.fritolay.com/about-frito- lay/sustainability Hughes, C. (2019, October 10). Doritos, Snickers and Pizza Are Under Attack. Retrieved from https://www.washingtonpost.com/business/doritos-snickers-and-pizza-are-under- attack/2019/10/10/937f4bda-eb63-11e9-a329-7378fbfa1b63_story.html Millwood, A. (2019, February 3). Why Doritos’ Marketing Strategy Made Super Bowl History. Retrieved from https://www.yotpo.com/blog/how-doritos-wins-every-super-bowl-with- ugc/ Momo, M. (2017, September 12). Red arrow chart. Retrieved from https://pixabay.com/illustrations/chart-red-arrow-growth-arrow-red-2741952/ NumeratorInsights. (2019). Doritos. Retrieved from https://snapshot.numerator.com/brand/doritos Parker, L. (2019, July 25). State of the Industry 2019: Tortilla chips evolve to fit better-for-you needs. Retrieved from https://www.snackandbakery.com/articles/93256-state-of-the- industry-2019-tortilla-chips-evolve-to-fit-better-for-you-needs Thomas, C. (2016, February 11). That 'controversial' Doritos commercial. Retrieved from https://world.wng.org/2016/02/that_controversial_doritos_commercial Wiediger, C. (2018, March 17). YouTube application screengrab. Retrieved from https://unsplash.com/photos/NmGzVG5Wsg8 Williams, R. (2019, August 26). Doritos drops its logo to spark UGC from ad-adverse Gen Zers. Retrieved from https://www.mobilemarketer.com/news/doritos-drops-its-logo-to-spark- ugc-from-ad-adverse-gen-zers/561646/
Page 9 YahooFinance. (2019). Income Statement. Retrieved from https://finance.yahoo.com/quote/PEP/financials?p=PEP YahooFinance. (2019). Balance sheet. Retrieved from https://finance.yahoo.com/quote/PEP/balance-sheet?p=PEP Zforthree. (2018, February 26). *NEW* Spicy Doritos Blaze Challenge. [Video File]. Retrieved from https://www.youtube.com/watch?v=T8Ey90kzgnk