Gourmet Foods Company is the strong merchant of Pakistan. Their products is Retail, Bakers, Sweets, Beverages and Dairy. To fulfil their aim to be the best company of the Pakistan they want professional marketing plan which can only help the company to accomplish its objectives more effectively and resourcefully, and getting a strong position on the market. When creating a proficient marketing plan every period of the marketing plan must be significantly analyzed and comprehensively investigated. This contains examining
market research and check-up current situation. Once we have carefully measure the internal and external business environment and take notice of the business in extensive the most appropriate marketing strategies will be chosen and these strategies will be been able by effectively monitoring outdoors problem and opportunities and changing internal competence techniques.
The Challenge
Introducing a new product in the market. The product will be low priced drink "gourmet mix fruits" providing the very best quality with a satisfaction of customer. The product will be from major stock and it'll be no doubt a customer-centred product. Gourmet introduces its new product premium combination fruits with 1 billion of marketing support.
Situation analysis
Company Evaluation:
Goals:
The main goal of the company is to get the strong and secure position in the market.
Focus:
The concentrate of gourmet is introducing new products in the market as premium cola, premium lemon UP, Malta, soda pop ice cream, gourmet apple, and other products of bakers and sweets.
Environment:
The environment is nice and clean and well organised. However many people have some affair regarding their quality but it is normally accepted that their environment is healthy and their products without doubt are quality products.
Strengths:
Gourmet has a solid position in Pakistan's market. And it includes covered Lahore's market as they have 90 outlet stores only in 1 city.
Weakness:
There are some health issues regarding Gourmet's drinks like pearly whites problem, throat problems. Moreover insufficient retailers in other metropolitan areas of Pakistan.
The Market Analysis
Check up both outside and inside business environment. It is very important that Premium carefully analyse both internal and external aspects regarding its business as both outside and inside environment and their specific effects will make a difference qualities in relation to Gourmet's success and strength in the food industry.
Internal Business Environment:
The inside business environment and its own impact is whatever is at the control of business. The main part in the inner environment is performance in the production, through management skills and effectual stations. To proficiently control and screen the inside business environment, premium should have an eyes on its businesses and really should take activities on factors which may impact it.
External Business Environment:
The outside business environment is also strong aspect that that make a difference a complete business and, a complete market indeed, whatever it do not have an impact on the company straight.
There is without doubt that changes in the exterior environment can possibly provide the chances or can create hazards for Gourmet Foods and it should be well aware of it. A continuous change in the market, changes customer behaviour and ideals, and demographic example reliably impact the success of Premium food's production the marketplace and
the reaction they get from their consumers. Another aspect which has a great impact on its development is technical atmosphere so Premium should have met the latest technical standards.
SWOT Analysis
SWOT is an abbreviation of Talents Weakness Opportunities and Risks. SWOT evaluation is a structured and proper method much used generally management as well as marketing
circumstances. SWOT analysis involves exploratory today's activities of the company to evaluate its Strengths and discover its Weakness and then by using this and external
research data to put out the Opportunities and Risks that exist in the market.
Strengths:
Gourmet has been a main part of Pakistan's market for a long period. The product's position is packed with sloppiness, and this can be an position many folks have taken it deeply as they have covered the market of Lahore which is considered a most dominant city of Pakistan due which it's becoming familiar. It has almost 90 retailers in Lahore so folks have to travel just a little to get gourmet beverages. This familiar branding is one of gourmet's best strengths. It is providing the very best quality and enjoyment with their customers and its own supply is continuously increasing day by day due to its wide selection of likes. Furthermore, Gourmet's bottling system is one of their extreme talents. It allows them conduct business in all over the Pakistan; bottling companies are locally measured and managed by independent business people who are allowed to sell products of the Premium food company. It is just because the Premium Company doesn't have absolute ownership of its bottling network.
Weaknesses:
It is normally accepted that the weaknesses for any company require to be both minimised and scrutinized in order to effectively attain effectually and efficiency in their
business's performance, gourmet is not a exemption. Although domestic business
as well as much others markets of Pakistan are flourishing. Gourmet didn't open its outlet stores in others major cities like Gujarat, Jhelum, is merely because they have got low consumer ability. Moreover major part of its customers are the universities and schools which shows that everyone customers are less in number this is because other brands are also available with an increase of market talk about and goodwill than gourmet.
Additionally, Gourmet has an issue of getting a tooth problem which cause health problems. It also offers sugar where constant drinking of Gourmet could also cause health trouble. Being addicted to Premium is a medical condition, because drinking alcohol of Premium daily has an effect on the body as well.
Opportunities:
Product recognition is the significant factor impacting Gourmet's competitive
position. Gourmet's brand name is known well throughout Pakistan today. The most important concern is the fact above recent years has been to get this name product to be even better standard. Packaging changes have also afflicted determinant of productivity. In other markets the merchandise life series is within more of a improvement trend Gourmet's edge in this field is mainly because of its business powerful branding and it is able to utilize this area of constant effectiveness to financing the domestic warfare.
Threats:
Currently, there a wide range of threats the Gourmet foods is facing. One of the major risks is the threat of new businesses and companies in competition that the management of gourmet is pondering more on protecting their market position. In addition to it rivalry is among challenging organizations in industry. Its direct opponents Marat Cola (in drink) nestle have strong impact on its market show because these are also good reputed businesses. Another and incredibly familiar danger which almost every business encounters is the risk of alternative product. The systems in which Premium deals are incredibly common as a consequence which it's nearly every product have its substitutes like Pepsi, Coca Cola, united ruler sweets etc are also interacting in the same products. The market share to your competition is low.
Objectives and issues
Gourmet's objectives are:
Its goal is to attain 15% market share in one yr Jan, 2011 to Dec, 2011
To achieve almost 30% results in starting 1 or 2 2 calendar months.
Promoting the merchandise and increasing the acknowledgement.
Compete for the success.
Marketing Strategy
Gourmet will compete on the market where it offers many immediate and indirect rivals who have large number of customers. Customer-Driven Marketing Strategy is strategy.
Market segmentation
Dividing the marketplace into minor groups with split needs, features, or actions who might want split products or marketing mixes. The division is on the basis of geographic, demographic, psychographic and behavioural methods.
Targeting market:
The product we will offer is well suited for which market. After analysis Gourmet found that the town of Punjab (Gujarat) is the marketplace where there tend to be more chances of growth of gourmet's new product. As the marketplace is big and curently have other brands but the chance is that the targeted customers tend to be more interested in their local brands than international or other brands.
As this is actually the targeted market so a major part of sales of gourmet mix fruits will be sent out to the market which will be around 60% and other 40% of sales will be distributed in other metropolitan areas of Pakistan. The purchase price would be fair as compare to its competitors and easily affordable. There is no authorized wall socket of Premium in Gujarat so this product will be easily available at nearly every retailing shop.
Positioning
When the process of market segmentation is done which is decided which segment of the marketplace Gourmet will remain competitive in developed a picture of its targeted section and described its product, Gourmet can develop the positioning strategy. Gourmet would arrange a perfect, unique, and suitable place relative to challenging product in the heads of directed consumers. Company will differentiate it's product (Gourmet mix fruits) by adding some specific features like a divers and quality preference in the same cost range.
The company are certain to get the competitive benefit.
Marketing Mix
After choosing its overall strategy Premium is preparing to create planning the components of marketing combine, one of the major ideas in modern marketing. The marketing combination is made for manageable, strategical tools that a firm mergers to create response it would like in the target market. The marketing combine consists of everything a company can do to influence the demand of its products.
The tools are divided into 4 wide categories that are:
Product
Price
Place
promotion
Product:
Gourmet Foods is adding a new product in the market which is a soda of combination fruits. It'll be a new flavour than other soft drinks available for sale. The soft drink is going to launch with the brand name "gourmet combine fruits". The packaging would same as before it has launched its existing carbonated drinks because it protects the merchandise during
shipping, so when it assemble in the shelf and when the client is using it, it
endorse the product and differentiate it from its swap products made available from other companies. In addition, it allows the business enterprise to plan promotional method, which can produce additional results and adverts.
The drink could have a wide range from 240ml, 1 litter, 1. 5 litters and 2 litters, it will also available in 5 litter family pack. No doubt the drink would have the very best quality with lovely, nice and satisfying preference. After sales services would b given when there is almost any problem regarding its quality like unpleasant flavour or smell than it probably will be taken back and consumer ought to have his full payment back again. However their is a warranty three months within that your product should be used.
Price:
Marketing penetration means to sets a minimal primary price in order to breach the market quickly and deeply to draw in a large volume of consumers quickly to increase market share
Price very sensitive market
Inverse marriage of development and distribution cost to sales growth
Low prices must keep competition from the market
Pricing strategies are essential to Gourmet because the purchase price decides the
total of sales and cash flow per unit sold. Businesses must have to set a cost that is more
attractive and smart to their patrons and provide the business enterprise with a fantastic level of
profit.
The product will be sold on ideal selling price which will be easily affordable. The expense of the product offered will be based upon cost of development, cost of syndication and plus a fair rate of go back. There will be no discount.
Evaluating the cost
Quantity
Fixed cost
(PKR)
Variable cost
(PKR)
Total cost
240ml
8
7
15rs
1 litters
8
27
35rs
1. 5 litters
8
37
45rs
2 litters
10
50
60rs
5 litters
20
85
110rs
Place:
The product would be distributed in the targeted market Gujarat, as it is manufacturing in Lahore so there would be a need of transport and other market intermediaries like resellers and marketing services businesses. A vehicle will be allocated distributing the stock to the targeted market well in time to save the customers from any hassle. Wholesalers will further spread it to the resellers and lastly the consumer will buy it. Company will retain the services of the physical syndication companies that will also help it to move their stock from their point of source to their final destination.
The orders would be taken on internet or by the financial intermediaries like banking companies, credit companies, insurance companies, and other related products that help fund orders or insure resistant to the threats associated with investing of product.
Promotion:
It includes all the means and ways by which something can be marketed. Among the strongest way of promoting its product is product's advertising. You can find market intermediary that are the research organizations, advertising companies, advertising companies, and market accessing organizations that help the company goal and its products promotion to the prospective market.
The advertisements will get on famous Pakistani Television set channels like Ptv, Ptv 2. It will be publicized on news stations because this multimedia have grown to be so familiar and extensive which can only help the business in their product campaign. Moreover Premium also use another route of advertising which is print media however it is not well toned but nonetheless is a useful mean of communication and retailing activities.
Conclusion:
In the nutshell I'd like to state that the Gourmet foods is flourishing company of Pakistan which bargains in Retail, Bakers, Sweets, Drinks and Milk. No doubt that the business have secured good position in the market of Punjab (province of Pakistan). Premium is going well and since their concentrate is on producing new and new products in the market, therefore the management of Premium decided to present a new product of beverages "Gourmet blend fruits" on the market giving a quality flavour of different fruits in signal container. The targeted segment is another city of Punjab province named Gujarat which seems the most suitable market because of this function. The segmentation is based on geographic, demographic, psychographic and behavioural solutions.
Hopefully it'll be appreciated in every get older levels and mainly in youngster. The look of the container is identical to it curently have for their drink products. Gourmet will launch the product with the investment of 5 million of market support which includes all the aspects about the production, product packaging and promotion of the product.
