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Fictional Marketing Plan Essay

2681 words - 11 pages

V10 Noodles Marketing Plan

December 08, 2009

Table of Contents
Introduction 3
Environmental Scan 3
Market Description 4
Marketing Strategy 5
Product Decisions 5
Pricing 6
Distribution 7
IMC 7
CRM and Internet Marketing 9
Bibliography 10

Introduction
* Our product is designed to provide a balanced nutritional meal in a fast, convenient and inexpensive form.
Product Idea:
* V10 instant noodles provide the user a full serving of vitamins and minerals along with fiber and other essential nutrients that are required for good health. Our company intends to use wholesome organic ingredients and will be an environmentally friendly and socially responsible ...view middle of the document...

* The economy is progressively improving but discretionary income is still relatively low due to high unemployment. That means consumers are spending most of their money on necessities such as food.
* We don’t want to price ourselves out of the market so we will sell our product at a reasonable price that will allow consumers with even very little income to be able to afford V10 noodles.
Socio-cultural Factors:
* There is a sizable minority of South Asian and Chinese people in Canada and the bulk of that population falls into the age category of 15-44 years old.
* South Asian and Chinese Canadian communities account for one third – or $5.7 billion - of grocery spending in Toronto and Vancouver
* We will sell our product in ethnic grocery stores such as T&T Supermarket and Fruticana and concentrate a sizeable proportion of our advertising budget specifically towards that market.

Technology:
* Modern technology has allowed the opportunity for industries to develop sustainably. Many producers now offer biodegradable packaging that is both eco-friendly and nontoxic.
* Our company will utilize alternative forms of energy such as wind and solar to power our plant which will be cheaper in the long run and help us be environmentally friendly. Also we will use biodegradable packaging and use sustainable manufacturing processes.
Legal-Political:
* Labeling of food is regulated by Health Canada through the Food and Drugs Act; it is mandatory to have ingredients list, nutrient content claims, and diet related health claims on all labeling.
* Since we are claiming to be an organic health food we have to get “Organic Certification” from the Canadian Food Inspection Agency before we can sell our product.
Demographics:
* Although our product can be easily sold to all types of demographics we plan to segment our market by age and ethnic group. In the CMA of Vancouver both these markets represent a large proportion of the population.
Market Description
Major Segments:
* Asian & South-Asian, Single Parent Families, University & College Kids.
* Our main target market is going to be UCK’s.
* The market resides in Ontario, Quebec, and British Columbia in large metropolitan areas. (Appendix 4-5)
* Majority is unmarried between the ages 18-24. They live either on their own or with their parents.
* In 2007 44% of new students at UBC lived at home; the other 66% lived on their own either in campus or renting.
* Most of them hold part-time jobs while studying. They usually come from middle class to upper class families.
* The psychographic profile of this market show that they are divided between strivers and altruists but they are all fun seekers. The benefits they look for are quality, convenience, and speed.
* The most important aspect about UCK’s is that they are very well informed and are firm believers in loyalty.
* We plan to target this market because most...

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