Reliance Baking Soda of Stewart Corporation Essay - 35

Reliance Baking Soda of Stewart Corporation - Essay Example Regnante has been promoted to a higher position that requires her managerial experience and decision-making skills to be put in practice, in addition, prove that she is worth the position of Domestic Brand Director. Moreover, the first task that has come with this position is very challenging. The task of increasing the Corporation’s profit by 10%, through developing a 2008 budget P& L, calls for strategic thinking. Regnant's plan aimed at achieving the goal of increasing profit by 10% starts by collecting information pertaining to past promotional strategies of RBS. RBS has a considerable market share since its competitors, private label brands, only enjoy 30% of the market share, and this is a good opportunity on the side of the corporation. Regnant's plan of achieving the stated goal has been fueled up by a 2006 consumer survey. The survey purports that RBS enjoys excellent brand awareness and loyalty, but on the flipside, it suffers from low advertisement. Regnante is aware that generating an additional profit of 10% through Marketing RBS, which is an old-fashioned and mainstay product will require a monitored expenditure. This means that whatever amount the Corporation spends on promotion should be worthwhile, and thus, she has embarked on scrutinizing past promotional strategies of RBS. The marketing mixes that Regnante has put into consideration are distribution, pricing, advertising, consumer promotion, and trade promotion (Ferrell & Hartline 15). In distribution, RBS has an opportunity since the highest percentage of grocery stores, mass merchandisers, warehouse clubs and drug stores stock the product. The distribution of RBS also has strength because the sales agents handling retail and wholesale of the product are paid through bonus on sales targets. When it comes to pricing, in the last five years the selling price of RBS was changed three times.RBS’s