market+strategy+plan

=Market strategy plan=

The following marketing plan involves the market objective and the basic market background  of an innovative new product, also the market analysis that allows us to outline the basic strategies for the achievement of the company’s strategic goals, and an implementation plan for this marketing programme.
 * Excusive Summary **

The objective contain both long and short term. Long term objective indicates the future overall destination of the company. To achieve the long term goal, it is necessary to translate it into shorter term objectives. So we sets our marketing objectives as: Short term: to sell 20,000 packages in the first season, and increase the sales by 10% every month afterwards. Long term: to achieve a market share of 2% in the UK market in the first year.
 * Market Objective **

The idea behind the generation of developing the new samosas was based on the team’s belief that it is time to provide to the UK consumers healthier food without compromising the taste and quality. As mentioned in Unit 2, Indian cuisine is one of the leaders of ethnic cuisine in UK market. In 2008 yielded profits of £1.3 billion and the prices of Indian food showed a 15% increase. The main demand of consumers, as far as the Indian cuisine is concerned, is more authentic flavors and healthier products. Furthermore, the number of people who prefer buying frozen Indian appetizers such as samosas increases. The people who enjoy consuming samosas the most are men of higher socio-economic groups between 35 to 44 years old.
 * Market background **

The main strengths of “Super Samosa” are the healthier nutritional profile of the ingredients, the low fat content, the high protein content, the increased fiber content, the high vitamin C content, the high b-carotene content and the medium spice level. Furthermore, “Super Samosa” contains soya chunks which are meat analogs and in that way it can be also consumed by vegetarians. That fact will be a great opportunity of the new product to be incorporated in the UK vegetarian market. Moreover, “Super Samosa” will bring a new opportunity for the UK market, because they have easy cooking instructions. In that way, the only thing that the consumer has to do is to put them on a baking tray and bake them for 15min at 180°C. In that way, the consumer will prefer buying “Super Samosa” instead of other non-ethnic products, such as Italian which are easier in preparation and the company will be able to win the competition between ethnic and non-ethnic products. On the contrary, the main weakness of “Super Samosa” is the fact that due to the healthier procedure which was used for its production and the use of whole meal flour in the base, they are not so crispy in comparison to other market samosas. The main threaten that “Super Samosa” has to confront is the other types of ethnic snacks which are on the market, such as spring rolls, bhajis and pakoras. The company believes that “Super Samosa” is able to be easily incorporated to the UK market and confront the competition of dominating international food manufacturers such as the Icelandic Bakkavor group, the S&A Foods and the Sharwood’s.
 * Market analysis (SWOT) **

The market strategy is a statement of our target market, competitive advantages and the core strategies we will use to achieve the market objectives. In terms of major customer that the organization seeks to serve, the group has clearly focused on the needs of a well-defined target market. The target market for our product is between the ages of 35 and 45, who are most likely to do the daily shopping and concern about the health of their family members. The geographical location of the market will initially be Britain. <span style="font-family: "Times New Roman","serif"; font-size: 16px;">The company’s competitive advantage(core competencies) include innovative recipe, partnered with improved producing process, which will provide consumers with a product that provides higher nutritional value (high protein, high fiber)and better health advantage (low fat) <span style="font-family: "Times New Roman","serif"; font-size: 16px;">The core strategy is a statement of how we intends to achieve our objectives. The basic way includes to increase sales and to improve productivity. <span style="font-family: "Times New Roman","serif"; font-size: 16px;">To increase sales, we will take two ways: <span style="font-family: "Times New Roman","serif"; font-size: 16px;">One way is to expand the total market by attracting new customers, or developing new product. For example, we launch the frozen samosa product at first, and we may also produce ready-to-eat samosa if there is proper marketing opportunity. <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Another way is to increase the market share, which means to win the consumers, so the company needs to serve better than the competitors. <span style="font-family: "Times New Roman","serif"; font-size: 16px;">We will improve productivity either by increasing margins or reduce costs <span style="font-family: "Times New Roman","serif"; font-size: 16px;"> To increase margins can be approached by increasing price or change product mix (products, price, promotion and place ) <span style="font-family: "Times New Roman","serif"; font-size: 16px;">By Weeding of the product line or removing of poorly performing product lines, we will be able to reduce costs.
 * <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Market strategy **

<span style="font-family: "Times New Roman","serif"; font-size: 16px;">The samosa product which characteristics have been developed will be called “Super Samosa” and is a vegetarian frozen product. The name choice was based on the marketing strategy of the NPD team. It is original, distinctive, easily pronounced and it describes the healthy nutritional profile of the product. The manufacturer brand name is “Eatwell”. So, the branding type of the new product will be family branding in order to have the product a brand’s support. Due to its healthy nutritional profile and the medium spice level, the marketing strategy can target all consumer groups of every age, men, women, and children. The main goal of the new product development department is to promote new healthier foods to consumers. <span style="font-family: "Times New Roman","serif"; font-size: 16px;">The marketing channel which will be used for placing the new product in the market will be a conventional channel. Moreover, the manufacturer will design the product, define the brand and the price of the product and promote and sell it to big retailers such as Morrisons and Tesco and also to small Indian groceries. The retailers will stock the product, promote it and sell t to the consumers. <span style="font-family: "Times New Roman","serif"; font-size: 16px;">The pricing of the new product will be based on the competitive situation and on the cost of samosa production. Furthermore, the prices of frozen samosas that already exist on the market (e.g Shazans Chicken Samosas Halal and Maysum Samosas) range from £2.00 to £4.00 (depending on the retailer) per pack of 700gr. “Super Samosa” will have a weight of 340gr per pack (15 samosas). Their price will be decided in order to be affordable for most consumers. It is very important for the company that its consumers will have the benefit of “value for money”. In that way, they will appreciate that the product quality is equivalent to its price. Furthermore, due to the fact that the company aims at promoting a new healthy product, the initial price of the “Super Samosa” will be lower than its future price. In that way, the company will not only gain large market share very quickly, but it will also promote a high quality product to consumer’s advantage. A part of the pricing policy will be the use of vouchers so as to gain a bigger part of the consumers group. The company wants the consumers to embrace the product and appreciate its healthy characteristics. The samosa price will be raised once it has gained consumer’s acceptance. The raw material cost for producing 340gr of samosas accedes to 1.031p. Additionally the whole production cost for 340gr of samosas is £1.40. The market samosas that we used in the market comparison test cost £1.55 per 340gr. In that way, the company decided that the price of “Super Samosa” will be £1.40, which will yield profit of £0.15-£0.20 per package. Moreover, “Super Samosa” will gain consumer’s acceptance because it is £0.15 cheaper than then the market, Maysum chicken and Maysum vegetable samosas. <span style="font-family: "Times New Roman","serif"; font-size: 16px;"> The promotional campaign of the new product will begin with the product launch event. In that way, the consumers will come into contact with the “Super Samosa” and will be aware of the healthy characteristics of the new samosas. They will have the opportunity to taste the product and also the NPD team will present questionnaires in order to find out if the product will be accepted by the potential consumers. The consumers also will have the opportunity to be informed by a poster about the product’s nutritional value. The team will be ready to answer all the consumer’s questions about the processing of the product and the consumers will also have the opportunity to see the packaged product. Furthermore, the company will conduct direct sells in the supermarkets in order to promote the new product in a “face to face” way. The company will also design a web site in order to make known the product in the UK market. The potential consumers will be able to order the “Super Samosa” online. The product’s delivery, after online ordering, will be free in order to attract a bigger part of the UK market. Finally, the company will advertise the “Super Samosa” with the aid of the media such as radio and TV.
 * <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Market programme for implementation (market mixes) **
 * <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Product **
 * <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Place **
 * <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Price **
 * <span style="font-family: "Times New Roman","serif"; font-size: 16px;">Promotion **

<span style="font-family: "Times New Roman","serif"; font-size: 16px;">back to homepage