Mamas Meal Product Category Restaurant And Ready to Eat Meals - Free Essay Example

Sample details Pages: 5 Words: 1443 Downloads: 4 Date added: 2017/06/26 Category Marketing Essay Type Analytical essay Did you like this example? Product name: Mamaà ¢Ã¢â€š ¬Ã¢â€ž ¢s meal Product category: Restaurant And Ready to eat meals. Slogan: Yummy Food Mummy Food EXECUTIVE SUMMARY: The general image of Mamaà ¢Ã¢â€š ¬Ã¢â€ž ¢s Meals will be that it products are convenient, healthy and affordable. They are easy to use, saves time and can be used with a least effort. As defined in target market section that young males who are living far away from home canà ¢Ã¢â€š ¬Ã¢â€ž ¢t cook food and eating daily from restaurants is quite expensive, so our product is convenient to consume for these users. Similarly our product will also be convenient for working class because after working half the day they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t want to get engage in long cooking process, we are providing them with an alternative of home cooking. They can enjoy a delicious healthy meal which is made in no time. INTRODUCTION TO SITUATIONAL ANALYSIS The product we have chosen for our advertisement is ready made meal. This may sound confusing at first, but what ready made me is a perfectly cooked meal that has a shelf life, it is a readymade delicious meal that is already prepared for you, all you have to do is simply warm up the meal. Foreign products like Heinz has been able to do this, they have a readymade soup that is preserved in a can, all you have to do is open up the can and pour out the soup and warm it up. We have created a similar product. Just imagine if you could have Achari chicken or Briyani that is ready made, and all you have to do is warm it up, there is no involvement of preparing the food, you just have to heat it up. We want to cater those who do not have the ability and time to devote towards preparing meal , for example bachelors, student who live in hostel or those females who find it always a tedious job to cook a meal after work one just has to Simply heat up a delicious meal that they bought from their local grocery store. We chose the product because we found it to be somewhat unique then other easy to make foods, if we where to look at KnNs nuggets or Maggie noodles , these two foods involve the effort of preparing the meal, they may be simple and a 2 step process in preparing the meal but it still requires time and effort. We want our customers to feel that when they come home all they have to do is warm up a delicious meal, a meal that is so tasty and made with love it feels as if your own mother has made it for you. Our customers should feel that there is a food that will be provided to them instantly. It is a way to care for those who wish to be look after of. For bachelors it may be the nostalgic moment of having a good warm meal prepared for them and the meal tastes just as good as their mother used to prepare for them. By adding the touch of love and care of a good cooked warm meal, we have decided to name our product à ¢Ã¢â€š ¬Ã‹Å"Mamaà ¢Ã¢â€š ¬Ã¢â€ž ¢s Mealà ¢Ã¢â€š ¬Ã¢â€ž ¢, the meal is so good and feels as if it has the touch of love as if your own mother has prepared it for you. We are reaching out to our customers by the emotional appeal of their want and desires by satisfying it with our product. STRENGTHS: Don’t waste time! Our writers will create an original "Mamas Meal Product Category: Restaurant And Ready to Eat Meals" essay for you Create order There is scope for of growth of ready to eat meals as the demographics and trends are changing. New demographics like two- income households and single parent households. Wide varieties of dishes are going to be offered to cater to different taste buds. Hassle free and attractive packaging of our product will set us apart from our competition. WEAKNESS: Acceptability of this type of food by the potential customers. A general perception prevails that preserved food is unhealthy. Lack of awareness about the product. OPPORTUNITIES: Poor distribution of the competitorà ¢Ã¢â€š ¬Ã¢â€ž ¢s product can act as an opportunity for us. Out of 6 local supermarkets researched only 2 had the product available. Lack of advertising by the competitor can also act as an opportunity in order to attract customers. Diversify into other business lines like frozen foods and canned foods. Export our products to countries like U.K and U.S.A which has a large market for ready to eat meals. THREATS: Only one competitor present in the market and the moment namely freshmate. Other threats include frozen foods like k nà ¢Ã¢â€š ¬Ã¢â€ž ¢s, menus, low priced food restaurants like dogar, maggi noodles. THREAT OF NEW ENTRANTS: The market of our product is such that there is some threat of new entrants because the market seems very attractive due to only one direct competitor (Freashmate) in the local market. The other attractiveness for the new entrants is that the segmentation is also much defined. The product differentiation is also another important point because there is always a chance of a new entrant introducing something new in the ready to eat meals category. Then the product is not very expensive and it is a general routine product so the switching cost of the consumers is not high. One barrier to entry is the initial set up cost which is slightly high and so it can somehow reduce the threat of new entrants. Target Market and Consumer Profile For a company to accomplish success in its marketing efforts it is important for it to realize the need for segmentation. Segmentation can be defined as dividing a market into smaller groups with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes (kotler et al.13th edition). In todays world it would be wrong to assume that a company can cater to everyone in the market hence it is important for a company new or existing to segments its markets. Segmentation can be done based on several factors namely demographics, psycho graphics, geographic and behavioral. The market can be segmented in the following categories Target Market and Consumer Profile The market can be segmented in the following categories Demographic Age(18-24), (24-36) GenderMale, female Family size3 and more persons Family life cycleSingle, Married with children Income30,000 and plus EducationCollege, University LifestyleBusy, Social Psycho graphic Social Classmiddle class, upper middle class Socio economic ClassA1, A2,B* AttitudesQuality minded, looking for convenience Behavioral Occasionsregular BenefitsGood quality, good taste, Convenience User Status First time user PRICE AND DISTRIBUTION PRICING: Price plays a very important role in the success of any product. Our product Mamaà ¢Ã¢â€š ¬Ã¢â€ž ¢s meals which is a ready to eat meal has only one direct competitor in the market while there are many other close substitutes. We are going to use a competitive pricing strategy because the price of our competitor is reasonable enough and another point is that we have an edge on Freshmate due to better and more impressive packaging which will look more hygienic, so the customers can get a better product in same price as that of Freshmate. Our traditional line of Mamaà ¢Ã¢â€š ¬Ã¢â€ž ¢s meals will be available in two different SKUs, a serving for 2 and a serving for 4. Same goes for the Continental and Chinese cuisine line. The price of the traditional line SKU which will serve to 2 will be between Rs.225 to 250 and the SKU which will serve to 4 will be between Rs.300 to Rs.325. The Continental and Chinese line SKU serving to 2 will range between 300 to 350 and the SKU for 4 will be within Rs.400 to 450. DISTRIBUTION: The distribution of a product matters a lot because the more convenient it is for the consumers to buy your product from the market the higher the chances of success. In the case of our product, the distribution plays a very important role because the product of our direct competitor is hardly available in the market à ¢Ã¢â€š ¬Ã…“Mamaà ¢Ã¢â€š ¬Ã¢â€ž ¢s mealsà ¢Ã¢â€š ¬Ã‚  is the product used on daily basis so we decided that we will place our product in grocery stores and bakeries as well so that the product will be in the range on our potential customers. We will also place our product in big stores or malls like CITIC Plaza, Guangzhou SM City Chengdu, Chengdu SM City Jinjiang, Jinjiang SM Lifestyle Centre, Zibo Hundred Years City We are going to use the above distribution channel because distribution in our competitive edge so we want to make sure that the product is reached to our customers and is distributed in all the places we actually want to so for that reason we are going to distribute our product our self to the retailers.