Yeti Coolers Marketing

Scott Raymond

One of the main things that I learned about this company is that it is not a publicly traded company. I initially thought that Yeti Coolers was publicly traded and that information would be easy to come by. I could not have been farther from the truth. We searched online, in print, and even called the corporate headquarters to try to find any more information that could be useful in our research. Most of the information we were able to collect came from sources outside of the Yeti company.

Looking into the outdoor recreation industry I found that consumers spend substantially more on outdoor recreation than many other things, including: vehicles, medical, and utilities. With almost $650 billion in consumer spending and over 6 million jobs the outdoor recreation industry is a leader in consumer spending and job opportunities. Yeti is one of the leading companies in the industry and their superior quality justifies their high asking price for their products.

I have mixed feelings with regards to the marketing plan. I thought it would be easy to come up with information for all the topics of the marketing plan. I was severely off the mark. The only portion of the marketing plan that I was able to get through with any amount of ease was the SWOT analysis. I do not know if this is because I have done a few SWOT analysis’ before or if it was easy to see this company’s strengths, weaknesses, opportunities and threats. It was extremely harder to come up with a marketing strategy, action programs, and budgets.

The biggest thing that stood out to me throughout this project was, just because you have an idea for a product does not mean your job is over. You can have the best idea in the world but if you do not have a solid marketing plan and know your industry and how your company fits into that industry your product idea will not get passed the infancy of its life cycle. If you are missing out on even one aspect of the marketing plan your product will suffer and as a result your company will suffer.

Product, price, promotion and place are essential to the life of a company. Without each one of those aspects working together you are hurting your product and company. As a result, you are doing a disservice to your potential and current customers. Having a strong and effective marketing plan will ensure your products success.