New Product Development, Marketing Project Of Ta'am
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- Pages: 13
Its not just food, its “Life”
Contents Idea Generation & Screening...............................................................................................2 Water Spraying Comb:.........................................................................................................2 Airy Helmet:........................................................................................................................2 TV with DVD Rom:............................................................................................................3 Car Casings:.........................................................................................................................3 Packed Salan (Food):...........................................................................................................3 Ta’am...................................................................................................................................4 Introduction:........................................................................................................................4 Perishability:........................................................................................................................5 AREAS OF WORK.............................................................................................................5 Why this name?...................................................................................................................6 Objectives:...........................................................................................................................6 SWOT Analysis...................................................................................................................7 Pest Analysis........................................................................................................................8 Segmentation:......................................................................................................................9 Target market:......................................................................................................................9 Positioning.........................................................................................................................10 Four P’s..............................................................................................................................10 Advertising Campaign.......................................................................................................12 LAUNCH:..........................................................................................................................12
1
Its not just food, its “Life”
Idea Generation & Screening When we were going to start business we have had many ideas regarding a new product. But we selected packed foods (salan) out of many because of its importance and need in the current market.
Water Spraying Comb: A comb that that can spray water whenever you press its button. That can make combing easier for you. Rejected: on the grounds that its market is very limited and most of the people prefer using hair tonics and gel instead of spraying water on their hair before combing
Airy Helmet: A helmet that has some stylish kinds of hole in it to make the helmet airy and keep the head cool under the helmet Rejected: On the grounds that only those people will buy who have bikes. And most of the people don’t want to wear helmet.
2
Its not just food, its “Life” TV with DVD Rom: A TV that has DVD Rom attached with it. There is no need to carry DVD Rom separately with TV. Rejected: On the ground that it involves too much technology and technology can get obsolete very soon
Car Casings: Customized body/casing of cars just like when you get bore of your cell phone casing you change it. Similarly you can get new casing for your car. Rejected: On the ground that its cost may be very high and Most of the people wouldn’t be able to buy it frequently. Only for those who have cars. And each car requires different type of casing and that would make it even more expensive.
Packed Salan (Food): Packed Traditional food like salan etc . That would be useful for people who have less time and mostly eat instant or fast food that has health hazardous effect on them. This packed food can provide them with nutrition they need and the traditional taste they want.
Accepted: On the ground that every one need food. And in todays modern world every one wants to eat quickly. So, ready to eat meal do have a potential market and it is really the need of the people. So, we named it “Ta’am” . So this project is about launching “Ta’am”
3
Its not just food, its “Life”
Ta’am Its not just food, its “Life” Introduction: Company will work in Food under brand name of “Ta’am”. Company also uses a statement, “Its not just food, its ‘Life’.” It shows how much conscious it is about quality and standards and assumes full responsibility about the products and its consumer’s health.
About Product: Company will produce ready made Traditional food (sabzi, biryani, pulses etc.) in specially vacuumed packing in which the product can survive for 20 days. The company will offer its products in3 categories. 1.
Ta’am sabzi:
1. Turnip salan 2. Lady finger salan 3. Pumpkin salan
2. Ta’am Gosht: 1. Mutton salan 2. Chicken salan
3. Bar B Q (containing seekh kabab and chicken tikka)
3. Ta’am Daal: 1. Raaj mash salan 2. Chanay ki daal 3. Mash ki daal
Ta’am Special: Chicken Biryani
4
Its not just food, its “Life” Perishability: • Required Temp: 0 C. • Life time (Out of freezer): 5 days.
PACKING Packaging: Multiple packaging Small packs: • Trays • Bowels • Plates
AREAS OF WORK Company is limited to Punjab’s market only but will expand its operations to other provinces as well in future. Its other markets other than Punjab would be “Sindh”
Mission statement: To preserve health and improve quality of life by providing nutritious, energetic and quality standardized food to the public through a highly capable and motivated human resource.
5
Its not just food, its “Life” Why this name? Here we have the name of our company “Ta’am” because: 1. This name relates to our products. Word Persian origin and it means Food.
“Ta’am”
has
2. Moreover, when our target customers would hear this name it will create perception of delicious food in their mind. 3. This name implies a traditional and cultural food that attracts customers.
Objectives:
“Ta’am” will establish a reputation for quality products and to continue to enhance its image in the industry. The company seeks to become a wellknown and respected provider of food (salan) products by: • Increasing quality of the products. • Increasing availability and accessibility to current and future
customers. • Creating innovative, unique, and cost-effective products to attract customers. • To revolutionize the way, the food industry is perceived • To become well known and acclaimed company for packed foods. • To deliver most delicious and affordable products to our customers, while meeting the international standards. 6
Its not just food, its “Life”
SWOT Analysis
Strengths: 1. Its one of the main strength is that its taste and ingredients used in th products according to region and culture. 2. It has a good brand name. 3. Quality of the products is exceptionally well. 4. It is ready to use. You can just open it and can eat it without further processing it. 5. It has good print media advertising campaign. 6. Don’t have the health hazard affects like most of the fast food has. 7. For all times all ages everyone. It is not for specific age group. Because taste is for every one. 8. Participation in social development by donation 5% profit to social sector 9. Most of the people now have less time and want to eat quick meal and lunch.
Opportunities: 1. New dishes can be incepted. They can also enter into the beverage market. 2. Can target students by making modern and cheap meals. Like vegetable sandwiches etc.
Weaknesses: 1. Its biggest weakness is that it is a new product. And most people resist change. So, in initial stages people would be reluctant to buy this product. 2. Its menu is limited and customers can get bore of them soon. 7
Its not just food, its “Life” Threats: 1. People have some reservations about packed food products. 2. Govt. can impose some strict rules and regulations.
Pest Analysis
Political Factors: Political factors play a vital role for the business prevailing in the country. Its business operation is in Punjab so it would not affected by political factors.
Economical Factors: Economics factors can affect them in the long run. But at present economic factors don have a big influence on it. Food inflation in future can affect it.
Socio-cultural factors: The main forces affecting decisions about our product are the social and cultural factors. As, “Ta’am” Gosht product range should be Halal. And it is necessary to make people believe that it contains halal ingredients and animals are being slaughtered by Islamic way.
Technological factors: Technology is a factor whose value cannot be ignored. Technologies vary with the passage of time in all industries. “Ta’am” has to make its techniques and methodologies up to date for keeping the product preferable in the market.
8
Its not just food, its “Life” Segmentation: Segmentation is the process of dividing the whole market in different segments which are homogenous within the segment and heterogeneous outside. “Ta’am” has segmented its market on the basis of:
Geographic Segmentation: Geographically we will first cover the whole market of Gujranwala, Gujrat, Sialkot and then move to the market of Lahore, Multan etc.
Demographic Segmentation: On the basis of demographic we first segmented our office going people in the core segment and then students on the secondary segment. There will be another segment of the home users.
Psychographic segmentation: Psychographic segmentation has been done on the basis of social class. Middle class and High class will be targeted because our product will not be within the means of middle class society.
Target market: After segmentation the second thing is to serve the target customers so “Ta’am” targeted the:
Primary Target Market Our primary target market is the Office going people who need quick and ready made food which is also good for health.
9
Its not just food, its “Life”
Secondary Target Market Our secondary target market is the Students, home users and: The people from Upper classes The people from middle classes
Positioning The core strategy is the matching of company strengths and market opportunities and has two components: 1. Identification of group of customers to whom the company can clearly show it has a differential advantage. 2. The firm needs to position its offerings in the customer’s mind. Our first priority is to maintain the good image of our brand in the mind of our customers by introducing a new product of good quality. We have to position our product in market in a way that can attract more loyal customers.
Four P’s
Product: Parents and wives are very conscious about the quality of the food that their children/husbands are suppose to use, keeping in view the requirements of them we have to retain the competence of quality meanwhile making the product colorful, flavored and eye catching.
Price: Price is one of the revenue generating elements of the traditional marketing mix, and price premiums are one of the most important equity benefits of creating brand awareness and strong, favorable and unique brand 10
Its not just food, its “Life” associations. To set the price consumer perception and value of the product should be kept in mind.
Ta’am sabzi:
Price in Rs.
1. Turnip salan 2. Lady finger salan 3. Pumpkin salan
40 40 40
Ta’am Gosht: 4. Mutton salan 5. Chicken salan 6. Bar B Q (containing seekh kabab and chicken tikka)
90 55 75
Ta’am Daal: 1. Raaj mash salan 2. Chanay ki daal 3. Mash ki daal
45 35 50
Ta’am Special: Chicken Biryani
125
Promotion: We will use print media and outdoor advertising for its promotion. However in spite of this we will also use many tools in its promotion like: 1. Publicity 2. Word of Mouth 3. Outdoor Media 4. Radio 5. Newspapers
11
Its not just food, its “Life” 6. Dlada and other magazines
Place: Placement plays a vital role in the life cycle of product so we will place our product at: 1. Departmental stores 2. Shopping malls 3. Target retailers As we have to develop a strong distribution network so we will use that distribution channel and network that is key factor in distribution procedures.
Advertising Campaign
PRE-LAUNCH: • Choice Of Brand name for the product • Design the Logo. • Preparation of Print Ads. • Outdoor site Selection (Billboards)
LAUNCH: • Ads in DAWN, BUSINESS RECORDER, JANG, AURORA • Opening Ceremony in Akbar’s Resort Gujrat
Post Launch 12
Its not just food, its “Life” • Placing of hoardings at main roads of Sialkot Gujrat and Gujranwala. • Run the add on Radio Fm 101 and FM 89. • A TVC for cable television
MEDIA The awareness campaign should be run on the Following media: • Newspapers • Food Magazines • Hoardings • Radio • Cable
Advertising:• A series of print ads should be developed for targeted placement • The ad size should range from full page to quarter page for different magazines, newspapers and trade publications. • Posters and brochures are developed for sending them to different outlets and corporate sectors.
13
Contents Idea Generation & Screening...............................................................................................2 Water Spraying Comb:.........................................................................................................2 Airy Helmet:........................................................................................................................2 TV with DVD Rom:............................................................................................................3 Car Casings:.........................................................................................................................3 Packed Salan (Food):...........................................................................................................3 Ta’am...................................................................................................................................4 Introduction:........................................................................................................................4 Perishability:........................................................................................................................5 AREAS OF WORK.............................................................................................................5 Why this name?...................................................................................................................6 Objectives:...........................................................................................................................6 SWOT Analysis...................................................................................................................7 Pest Analysis........................................................................................................................8 Segmentation:......................................................................................................................9 Target market:......................................................................................................................9 Positioning.........................................................................................................................10 Four P’s..............................................................................................................................10 Advertising Campaign.......................................................................................................12 LAUNCH:..........................................................................................................................12
1
Its not just food, its “Life”
Idea Generation & Screening When we were going to start business we have had many ideas regarding a new product. But we selected packed foods (salan) out of many because of its importance and need in the current market.
Water Spraying Comb: A comb that that can spray water whenever you press its button. That can make combing easier for you. Rejected: on the grounds that its market is very limited and most of the people prefer using hair tonics and gel instead of spraying water on their hair before combing
Airy Helmet: A helmet that has some stylish kinds of hole in it to make the helmet airy and keep the head cool under the helmet Rejected: On the grounds that only those people will buy who have bikes. And most of the people don’t want to wear helmet.
2
Its not just food, its “Life” TV with DVD Rom: A TV that has DVD Rom attached with it. There is no need to carry DVD Rom separately with TV. Rejected: On the ground that it involves too much technology and technology can get obsolete very soon
Car Casings: Customized body/casing of cars just like when you get bore of your cell phone casing you change it. Similarly you can get new casing for your car. Rejected: On the ground that its cost may be very high and Most of the people wouldn’t be able to buy it frequently. Only for those who have cars. And each car requires different type of casing and that would make it even more expensive.
Packed Salan (Food): Packed Traditional food like salan etc . That would be useful for people who have less time and mostly eat instant or fast food that has health hazardous effect on them. This packed food can provide them with nutrition they need and the traditional taste they want.
Accepted: On the ground that every one need food. And in todays modern world every one wants to eat quickly. So, ready to eat meal do have a potential market and it is really the need of the people. So, we named it “Ta’am” . So this project is about launching “Ta’am”
3
Its not just food, its “Life”
Ta’am Its not just food, its “Life” Introduction: Company will work in Food under brand name of “Ta’am”. Company also uses a statement, “Its not just food, its ‘Life’.” It shows how much conscious it is about quality and standards and assumes full responsibility about the products and its consumer’s health.
About Product: Company will produce ready made Traditional food (sabzi, biryani, pulses etc.) in specially vacuumed packing in which the product can survive for 20 days. The company will offer its products in3 categories. 1.
Ta’am sabzi:
1. Turnip salan 2. Lady finger salan 3. Pumpkin salan
2. Ta’am Gosht: 1. Mutton salan 2. Chicken salan
3. Bar B Q (containing seekh kabab and chicken tikka)
3. Ta’am Daal: 1. Raaj mash salan 2. Chanay ki daal 3. Mash ki daal
Ta’am Special: Chicken Biryani
4
Its not just food, its “Life” Perishability: • Required Temp: 0 C. • Life time (Out of freezer): 5 days.
PACKING Packaging: Multiple packaging Small packs: • Trays • Bowels • Plates
AREAS OF WORK Company is limited to Punjab’s market only but will expand its operations to other provinces as well in future. Its other markets other than Punjab would be “Sindh”
Mission statement: To preserve health and improve quality of life by providing nutritious, energetic and quality standardized food to the public through a highly capable and motivated human resource.
5
Its not just food, its “Life” Why this name? Here we have the name of our company “Ta’am” because: 1. This name relates to our products. Word Persian origin and it means Food.
“Ta’am”
has
2. Moreover, when our target customers would hear this name it will create perception of delicious food in their mind. 3. This name implies a traditional and cultural food that attracts customers.
Objectives:
“Ta’am” will establish a reputation for quality products and to continue to enhance its image in the industry. The company seeks to become a wellknown and respected provider of food (salan) products by: • Increasing quality of the products. • Increasing availability and accessibility to current and future
customers. • Creating innovative, unique, and cost-effective products to attract customers. • To revolutionize the way, the food industry is perceived • To become well known and acclaimed company for packed foods. • To deliver most delicious and affordable products to our customers, while meeting the international standards. 6
Its not just food, its “Life”
SWOT Analysis
Strengths: 1. Its one of the main strength is that its taste and ingredients used in th products according to region and culture. 2. It has a good brand name. 3. Quality of the products is exceptionally well. 4. It is ready to use. You can just open it and can eat it without further processing it. 5. It has good print media advertising campaign. 6. Don’t have the health hazard affects like most of the fast food has. 7. For all times all ages everyone. It is not for specific age group. Because taste is for every one. 8. Participation in social development by donation 5% profit to social sector 9. Most of the people now have less time and want to eat quick meal and lunch.
Opportunities: 1. New dishes can be incepted. They can also enter into the beverage market. 2. Can target students by making modern and cheap meals. Like vegetable sandwiches etc.
Weaknesses: 1. Its biggest weakness is that it is a new product. And most people resist change. So, in initial stages people would be reluctant to buy this product. 2. Its menu is limited and customers can get bore of them soon. 7
Its not just food, its “Life” Threats: 1. People have some reservations about packed food products. 2. Govt. can impose some strict rules and regulations.
Pest Analysis
Political Factors: Political factors play a vital role for the business prevailing in the country. Its business operation is in Punjab so it would not affected by political factors.
Economical Factors: Economics factors can affect them in the long run. But at present economic factors don have a big influence on it. Food inflation in future can affect it.
Socio-cultural factors: The main forces affecting decisions about our product are the social and cultural factors. As, “Ta’am” Gosht product range should be Halal. And it is necessary to make people believe that it contains halal ingredients and animals are being slaughtered by Islamic way.
Technological factors: Technology is a factor whose value cannot be ignored. Technologies vary with the passage of time in all industries. “Ta’am” has to make its techniques and methodologies up to date for keeping the product preferable in the market.
8
Its not just food, its “Life” Segmentation: Segmentation is the process of dividing the whole market in different segments which are homogenous within the segment and heterogeneous outside. “Ta’am” has segmented its market on the basis of:
Geographic Segmentation: Geographically we will first cover the whole market of Gujranwala, Gujrat, Sialkot and then move to the market of Lahore, Multan etc.
Demographic Segmentation: On the basis of demographic we first segmented our office going people in the core segment and then students on the secondary segment. There will be another segment of the home users.
Psychographic segmentation: Psychographic segmentation has been done on the basis of social class. Middle class and High class will be targeted because our product will not be within the means of middle class society.
Target market: After segmentation the second thing is to serve the target customers so “Ta’am” targeted the:
Primary Target Market Our primary target market is the Office going people who need quick and ready made food which is also good for health.
9
Its not just food, its “Life”
Secondary Target Market Our secondary target market is the Students, home users and: The people from Upper classes The people from middle classes
Positioning The core strategy is the matching of company strengths and market opportunities and has two components: 1. Identification of group of customers to whom the company can clearly show it has a differential advantage. 2. The firm needs to position its offerings in the customer’s mind. Our first priority is to maintain the good image of our brand in the mind of our customers by introducing a new product of good quality. We have to position our product in market in a way that can attract more loyal customers.
Four P’s
Product: Parents and wives are very conscious about the quality of the food that their children/husbands are suppose to use, keeping in view the requirements of them we have to retain the competence of quality meanwhile making the product colorful, flavored and eye catching.
Price: Price is one of the revenue generating elements of the traditional marketing mix, and price premiums are one of the most important equity benefits of creating brand awareness and strong, favorable and unique brand 10
Its not just food, its “Life” associations. To set the price consumer perception and value of the product should be kept in mind.
Ta’am sabzi:
Price in Rs.
1. Turnip salan 2. Lady finger salan 3. Pumpkin salan
40 40 40
Ta’am Gosht: 4. Mutton salan 5. Chicken salan 6. Bar B Q (containing seekh kabab and chicken tikka)
90 55 75
Ta’am Daal: 1. Raaj mash salan 2. Chanay ki daal 3. Mash ki daal
45 35 50
Ta’am Special: Chicken Biryani
125
Promotion: We will use print media and outdoor advertising for its promotion. However in spite of this we will also use many tools in its promotion like: 1. Publicity 2. Word of Mouth 3. Outdoor Media 4. Radio 5. Newspapers
11
Its not just food, its “Life” 6. Dlada and other magazines
Place: Placement plays a vital role in the life cycle of product so we will place our product at: 1. Departmental stores 2. Shopping malls 3. Target retailers As we have to develop a strong distribution network so we will use that distribution channel and network that is key factor in distribution procedures.
Advertising Campaign
PRE-LAUNCH: • Choice Of Brand name for the product • Design the Logo. • Preparation of Print Ads. • Outdoor site Selection (Billboards)
LAUNCH: • Ads in DAWN, BUSINESS RECORDER, JANG, AURORA • Opening Ceremony in Akbar’s Resort Gujrat
Post Launch 12
Its not just food, its “Life” • Placing of hoardings at main roads of Sialkot Gujrat and Gujranwala. • Run the add on Radio Fm 101 and FM 89. • A TVC for cable television
MEDIA The awareness campaign should be run on the Following media: • Newspapers • Food Magazines • Hoardings • Radio • Cable
Advertising:• A series of print ads should be developed for targeted placement • The ad size should range from full page to quarter page for different magazines, newspapers and trade publications. • Posters and brochures are developed for sending them to different outlets and corporate sectors.
13
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