In relation to the study the company which has been selected is ABC Foods Pvt. Ltd., a 10 years young US based food processing company which has been continuous supplying processed food to the major supermarkets and community based departmental stores and grocery shops in Unite States. The company was established and incorporated in 2001. The company has decided to make forward diversification into the Indian food market with the launch of a new category of product line i.e. “Ready-To-Eat” (RTE) food. This ready to eat food is very much popular in the developed countries and it has a saturated market in US. So the company has decided to make brand extension as well as diversification of business simultaneously. India has a very good potential market for ready to eat food and very few food companies are there who have this type of product differentiation in the market. Only the people of urban areas of the country have the food habit of processed food like ready to eat food and maximum family member in the urban areas are working people and they generally need a time consumed processing of the food for their breakfast and as well for making Tiffin for launch. These all are driving forces which influence the company to make the brand extension in a potential foreign country like India where the food habit of people is changing from home cooked food to ready to eat food. A SMAETER objectives need to follow for getting competitive advantage. Specific: The Company needs to reach in its break even in 2.5 year so that it can start brand extension i.e. it can invest some percentage of its profit in another brand or product diversification to expand the business in the form of higher market share. The company supply their products to supermarkets as well as the small and medium grocery shops in the in the community area for getting a final customer based apart from the third party retail clients. For this type of sales objectives, distributor acquisition and development is required who will be responsible for generating channel sales by supplying products to the small shops in semi urban or community based countryside areas. Measurable: Measurable objective is the result of quantitative analysis of pre-measured sales target for achieving the small steps in the away of break even. For growth measurement achieving sales growth of 5% over first five years is needed which will simultaneously expand the market beyond the targeted market. Achievable: A substantial market position is one of the important achievable marketing objectives. Exploitation of gap in demand for the product and efficient supply is major achievable objective. For this a effective distribution channel is needed so that product can reach in place where the other competitors didn’t think of ever and it will be beneficial for capturing the rural market which is a substantial part of Indian market and a possibility of available potential consumer may also there. And sometimes this presence of the product will influence their willingness to buy a new product. Realistic: A product sample testing from the final consumer is needed to understand the demand of the competitors’ existing customers and it will be clear that how much percentage of the total consumer of this category of product may shift to its brand. Like 30% of the potential consumer from the retail supermarket is needed for better confidence in the start up. Time bound and Extending: Initial time bound is one year and then if the strategies and the objectives
This article presents marketing plan for ABC Foods Pvt. Ltd. The company supply their products to supermarkets as well as the small and medium grocery shops in the in the community area for getting a final customer based apart from the third party retail clients…
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From an economic-point of view, they create a benefit, called utility such as form, time, place and ownership utilities (Boone and Kurtz, 2009, p. 5) and they are the want-satisfying power of the goods or service. But in today’s highly complex marketing contexts, no business would be able to survive unless it plans effectively for the future.
Factors for marketing communication plan.
Kudler Fine Foods needs to prepare a marketing communications plan to create awareness about the Too Fresh to Go product line. The product has the potential to be consumed by virtually any type of customer since the product can be consumed out of the comfort of your home without the hassle of cooking a meal.
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The current product range of ABC comprises severe pain medication market segment. Given its major share in the pharmaceuticals industry and considering the potential for introducing differentiated pain control products, ABC Pharmaceuticals is considering the option to venture into moderate pain control medication market segment.
This is the reason why a market research is needed. The management team needs to find out what would entice the target market into buying Jack’s products, and consequently, to bring in sales to the company.
1. Learn about the buying habits and
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7 pages (1750 words)Essay
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